View Poll Results: How much savings you with have? (Relative to your monthly income)

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  • 1 month equivalent

    2 6.06%
  • 2 months equivalent

    5 15.15%
  • 3 months equivalent

    3 9.09%
  • 4 months equivalent

    1 3.03%
  • 5 months equivalent

    0 0%
  • 6 months equivalent

    4 12.12%
  • Never enough!

    15 45.45%
  • I can retire now!

    3 9.09%
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Thread: How much savings do you have?

  1. #21
    Senior Member Halfmoon's Avatar
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    Default Re: How much savings do you have?

    Quote Originally Posted by ahboy168 View Post
    More like how many months you can afford not to work. My longest one is 1.5 years !
    But now with 2 kids, there will be much much shorter ...
    With family, the amount need to save is much higher, and there no job security in SG anymore...
    Art is perception; Perception is art.

  2. #22
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    Quote Originally Posted by ahboy168 View Post
    More like how many months you can afford not to work. My longest one is 1.5 years !
    But now with 2 kids, there will be much much shorter ...
    With house and car loans, not a lot can afford not to work.

  3. #23

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    Quote Originally Posted by ManWearPants

    With house and car loans, not a lot can afford not to work.
    Young family today, both have to work till they die just to service their 1st house loan. And they have no choice not to own a house because their cpf money is already reserved for it. It is like you must make the purchase ! You can upgrade(add $) but cannot downgrade !
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  4. #24
    Senior Member albertri's Avatar
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    Default Re: How much savings do you have?

    After buying my 1st ever flat I am at the Negative *sob*
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  5. #25
    Senior Member Halfmoon's Avatar
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    Default Re: How much savings do you have?

    Quote Originally Posted by ahboy168 View Post
    Young family today, both have to work till they die just to service their 1st house loan. And they have no choice not to own a house because their cpf money is already reserved for it. It is like you must make the purchase ! You can upgrade(add $) but cannot downgrade !
    I believe that most of us will also be tight and broke after buying a house....
    Art is perception; Perception is art.

  6. #26
    Senior Member albertri's Avatar
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    Quote Originally Posted by Peegee View Post
    20% went to my parents not including medical fees.
    Model child keep it up I'm sure your parents are very happy this is our way to pay them back :-) to all the sacrifice they did for us.
    Last edited by albertri; 10th February 2013 at 03:26 PM.
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  7. #27
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    Default Re: How much savings do you have?

    Actually there are model parents who struggle to buy a house each for all their children.

  8. #28
    Senior Member Halfmoon's Avatar
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    Default Re: How much savings do you have?

    Quote Originally Posted by ricohflex View Post
    Actually there are model parents who struggle to buy a house each for all their children.
    What if they have 10 children???? Woow.... is it possible??? Well, if they are rich.... but I think in some ways..... children gotta grow up.... and learn to take their own responsibility...
    Art is perception; Perception is art.

  9. #29
    Senior Member albertri's Avatar
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    Default Re: How much savings do you have?

    Quote Originally Posted by ricohflex View Post
    Actually there are model parents who struggle to buy a house each for all their children.
    One of the main reason I bought a flat is for my kids I may not be able to afford buying them thier own house in the future at least I have something for them to start with..
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  10. #30
    Senior Member Halfmoon's Avatar
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    Default Re: How much savings do you have?

    Quote Originally Posted by albertri View Post
    One of the main reason I bought a flat is for my kids I may not be able to afford buying them thier own house in the future at least I have something for them to start with..
    How many kids do you have??? I do not know how old they are now, but I guess parents have to think a lot and worry alot.....
    Art is perception; Perception is art.

  11. #31
    Senior Member albertri's Avatar
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    Default Re: How much savings do you have?

    Quote Originally Posted by Halfmoon View Post
    How many kids do you have??? I do not know how old they are now, but I guess parents have to think a lot and worry alot.....
    I have three kids I marry a bit young my eldest now i Sec 4 and 2nd is sec 1 and youngest still long way to go for me :-( K2 only.... As a parent you always think how you can make thing better for your kids so that they wont experience what you have when you're young.... I think I can consider old already as I have three kids at these age hehe...

    Anyways being a parents has a lot of responsibilities on your shoulder the future of your kids are in your hands, you're moulding the next generation of citizen so it's up to you how you mould them...
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  12. #32

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    As a parent, I think we should send our children overseas to have more exposure. Here is not a place to live for the next generation.
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  13. #33

    Default Re: How much savings do you have?

    My reserves were wiped out when I bought our first home
    Still trying to rebuild; I stuff 50% of my monthly paycheck away
    But have had to dip in from time to time
    It's uncanny how electrical appliances break down once bonus time arrives...

    I was unemployed once, for a really long time, so I still/will always feel insecure
    Yet fbofw it changed my world view, how to pare things down to what’s a need and what’s a want
    No kids though, from the posts above, that's gonna be a killer!
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  14. #34
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    Default Re: How much savings do you have?

    oe just needs to have abt 3 to 6 months of savings willll do.... the rest of the money can be used to buy lenses... afterall we live to shoot, and afterall image quality is 100% determined by l lens
    09 Oct 09 officially marks the date I become a canon convert.

  15. #35
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    Default Re: How much savings do you have?

    Quote Originally Posted by ahboy168 View Post
    As a parent, I think we should send our children overseas to have more exposure. Here is not a place to live for the next generation.
    If teenage without supervision or guidance in US or UK, can be led astray into narcotics drug taking.

    If exposed to other less developed countries where there are many poor, they may appreciate Singapore more after the visit.

  16. #36

    Default Re: How much savings do you have?

    I think for a general rule of thumb, as long as you have enough to cover all the monthly expenses for a minimum of 6 months, it's adequate but risky as you need to bring money home by the 7th month. I've seen high flying couples unemployed for almost a year during bad times & some things are not as "liquid" as they are.

    A lot of us are paper rich only. Properties take 4-6months to unlock it's value IF you sold it. Cash will be best provided it holds it's value against other currencies. Still remember Asian crisis? Suddenly Rupiah, Baht etc became very little against USD within weeks. Spooky times
    Last edited by NineEleven; 18th February 2013 at 08:20 PM.
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  17. #37
    Senior Member Halfmoon's Avatar
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    Default Re: How much savings do you have?

    Quote Originally Posted by ricohflex View Post
    If teenage without supervision or guidance in US or UK, can be led astray into narcotics drug taking.

    If exposed to other less developed countries where there are many poor, they may appreciate Singapore more after the visit.
    Even in Singapore now, it is important to supervise and guide the kids......

    Casinos in SG.... and more people in SG... you really do not know what is going to happen next....
    Art is perception; Perception is art.

  18. #38
    Senior Member Halfmoon's Avatar
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    Default Re: How much savings do you have?

    Quote Originally Posted by ahboy168 View Post
    As a parent, I think we should send our children overseas to have more exposure. Here is not a place to live for the next generation.
    It is if you can afford... also, if your kids have a good job in overseas, they could also pull the family out in worst scenario from Singapore....
    Art is perception; Perception is art.

  19. #39
    Senior Member Halfmoon's Avatar
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    Default Re: How much savings do you have?

    Quote Originally Posted by albertri View Post
    I have three kids I marry a bit young my eldest now i Sec 4 and 2nd is sec 1 and youngest still long way to go for me :-( K2 only.... As a parent you always think how you can make thing better for your kids so that they wont experience what you have when you're young.... I think I can consider old already as I have three kids at these age hehe...

    Anyways being a parents has a lot of responsibilities on your shoulder the future of your kids are in your hands, you're moulding the next generation of citizen so it's up to you how you mould them...
    Well, at least your kid are 16, 13,..... only the youngest will be a challenge...... It must not be easy to have 3 kids in SG...

    It depend on your view on parenthood... some parent do not even bother to guide or teach the kids... and let them run around..... responsible parent will try to their guide their children more.....
    Art is perception; Perception is art.

  20. #40
    Senior Member albertri's Avatar
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    Default Re: How much savings do you have?

    Quote Originally Posted by Halfmoon View Post
    Well, at least your kid are 16, 13,..... only the youngest will be a challenge...... It must not be easy to have 3 kids in SG...

    It depend on your view on parenthood... some parent do not even bother to guide or teach the kids... and let them run around..... responsible parent will try to their guide their children more.....

    Oh man its very hard :-( specially if you want to provide them a comfy life here...
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