Page 1 of 22 123611 ... LastLast
Results 1 to 20 of 440

Thread: 30k savings, 35 y-o

  1. #1

    Default 30k savings, 35 y-o

    need inputs from you guys.

    for a guy 35 years old, being in the workforce for 10 years, is 30k savings
    -too little
    -ok, acceptable
    -wah...alot already

    if too little, how much savings in your opinion should he have?

  2. #2
    Senior Member
    Join Date
    Sep 2005
    Location
    Raffles Place
    Posts
    1,812

    Default Re: 30k savings, 35 y-o

    does he drive ?

  3. #3
    Senior Member CS TAN's Avatar
    Join Date
    Sep 2007
    Location
    Hong Kong
    Posts
    3,663

    Default Re: 30k savings, 35 y-o

    what is his annual income (salary+bonus+benefits)?
    Does he own any other investment portfolio (stocks & shares, property)?

    EDIT:
    Add: got silver spoon inside his mouth?
    Last edited by CS TAN; 28th January 2010 at 01:10 PM.
    Canon 5D Mark II | 24-105L | 35L | 85L II | 135L | Samyang 14mm 2.8

  4. #4
    Senior Member
    Join Date
    Sep 2005
    Location
    Raffles Place
    Posts
    1,812

    Default Re: 30k savings, 35 y-o

    does he has a life insurance ? does he own a flat ? insurance is a sign of responsbility, flat means ability to provide shelter
    Last edited by raincool2005; 28th January 2010 at 01:11 PM.

  5. #5
    Moderator ortega's Avatar
    Join Date
    Nov 2004
    Location
    Singapore, Singapore, Singapor
    Posts
    24,053
    Blog Entries
    7

    Default Re: 30k savings, 35 y-o

    is he into photography?
    does he have a girlfriend?

    he must be a boring person to save all his money

  6. #6
    Senior Member
    Join Date
    Sep 2005
    Location
    Raffles Place
    Posts
    1,812

    Default Re: 30k savings, 35 y-o

    is a he a faithful man ? good to his parents ? is he a man of his words ? i think all these more important than his 30k savings

  7. #7
    Senior Member phoakm's Avatar
    Join Date
    Dec 2003
    Location
    Singapore, Singapore, Singapor
    Posts
    7,387

    Default Re: 30k savings, 35 y-o

    I am 35 years. My savings less than $30k. I am married to my equipments.
    I AM BORNFIRE!
    My Flickr/TFCD Service

  8. #8
    Senior Member CS TAN's Avatar
    Join Date
    Sep 2007
    Location
    Hong Kong
    Posts
    3,663

    Default Re: 30k savings, 35 y-o

    All the above questions sound like coming from the potential FIL /MIL
    Canon 5D Mark II | 24-105L | 35L | 85L II | 135L | Samyang 14mm 2.8

  9. #9
    Member Deyeno's Avatar
    Join Date
    Jan 2009
    Location
    Singapore
    Posts
    79

    Default Re: 30k savings, 35 y-o

    I think there is a lot to be taken into account, as others have stated above.

    As a foreigner here I see this, men are at a disadvantage when it comes to work and what others expect of them for a few reasons and many I feel seem to forget this:

    1: NS - 18 to 21 age
    2: Back to Uni finish studies - 25 - 25 age
    3: Join work force at say 25 onwards(depends) - so what is the starting salary

    So perhaps another way is to get the TS to answer her question, does she think 30,000 is enough after 10years of working, if No, why not?

    Cheers ....
    Last edited by Deyeno; 28th January 2010 at 01:13 PM.
    40D|BG-E2N|24-105L F4.0 IS USM |70-200L F2.8 IS USM

  10. #10

    Default Re: 30k savings, 35 y-o

    If you are referring to security like with 30k is this enough if he is out of job ? blah blah...

    I think i saw articles that says best to have savings that can last you for 6 months (minimum).


    35 yrs old working for 10yrs with 30k is alot or too little depends how much he earn ? What % of the earning he saves ?


    Quote Originally Posted by jeanie View Post
    need inputs from you guys.

    for a guy 35 years old, being in the workforce for 10 years, is 30k savings
    -too little
    -ok, acceptable
    -wah...alot already

    if too little, how much savings in your opinion should he have?

  11. #11

    Default Re: 30k savings, 35 y-o

    Like others have pointed out, what is their income versus their expenses. Are they living at home or paying rent/mortgage? Own a car?

  12. #12
    Member
    Join Date
    Feb 2005
    Location
    singapore
    Posts
    1,799

    Default Re: 30k savings, 35 y-o

    How is his spending will determine if that savings is enough.

    How much % wise is the saving based on his cash salary?
    How much is that real savings as in not savings towards next purchase?

    Is that 30K in CPF?

  13. #13
    Member
    Join Date
    Mar 2004
    Location
    bukit batok
    Posts
    1,478

    Default Re: 30k savings, 35 y-o

    i think is pretty ok, but 40k onwards would be a more decent figure.

  14. #14
    Senior Member
    Join Date
    Apr 2005
    Location
    270 degree of Singapore
    Posts
    6,746

    Default Re: 30k savings, 35 y-o

    It's really depend on what his earning like.
    If he earn a lot but also spend a lot, then it's too little.
    If he earn average but also spend average, then it's acceptable.
    If he earn a few but also spend not much, then it's a lot.

    But generally it's average and acceptable. Some may have spent their early saving for future improvement, cars, chasing girls etc. Or even loss in investment.

    But the important thing is future, what's the potential like, 35yr old is still got many years of working life.
    Sony Alpha 700 hobbyist

  15. #15
    Senior Member Numnumball's Avatar
    Join Date
    Mar 2009
    Location
    Central
    Posts
    13,917

    Default Re: 30k savings, 35 y-o

    Quote Originally Posted by jeanie View Post
    need inputs from you guys.

    for a guy 35 years old, being in the workforce for 10 years, is 30k savings
    -too little
    -ok, acceptable
    -wah...alot already

    if too little, how much savings in your opinion should he have?
    ok, acceptable.. i should have tat much by now if not for my investments in photography

    but i only 5 yrs into workforce and 4 more yrs to 35....hee
    Last edited by Numnumball; 28th January 2010 at 04:52 PM.
    I turned PRO in diaper chg!
    My Flickr|My Son

  16. #16
    Member
    Join Date
    Oct 2005
    Location
    Pacman's Corner
    Posts
    406

    Default Re: 30k savings, 35 y-o

    Quote Originally Posted by jeanie View Post
    need inputs from you guys.

    for a guy 35 years old, being in the workforce for 10 years, is 30k savings
    -too little
    -ok, acceptable
    -wah...alot already

    if too little, how much savings in your opinion should he have?
    acceptable. but i think he should have more savings considering he's already 35 yrs old. perhaps he has other assets?!

  17. #17
    Member iMac08's Avatar
    Join Date
    Sep 2008
    Location
    Tiong Bahru,Singapore
    Posts
    1,122

    Default Re: 30k savings, 35 y-o

    Too little.must know pay and spending pattern. Any other assets. Low cash but has other assets is a diff story. If all he has is 30k then I think is bad. Personal opinion .

  18. #18

    Default Re: 30k savings, 35 y-o

    You mean cash? or mixed in investments as well?

    Ok, based on my very basic economics FAIL calculation :

    Retire at 60 (anyway, despite what garmen say, employers will give you the boot at around 60).
    So 25yrs more to go to being jobless (or at least having a non dish/table cleaning job)
    Projected EOL (end of life), say its 85
    So from 60 to 85, need to tahan 25yrs.

    Don't even take into account inflation and what not.
    Daily makan : $6
    Odds and ends : $4

    Minimum $10/day

    365days x 10 x25 = $91250


    Never add coffin money. anyway, return to earth already, can't care less
    Last edited by pinholecam; 28th January 2010 at 05:13 PM.

  19. #19

    Default Re: 30k savings, 35 y-o

    Quote Originally Posted by jeanie View Post
    need inputs from you guys.

    for a guy 35 years old, being in the workforce for 10 years, is 30k savings
    -too little
    -ok, acceptable
    -wah...alot already

    if too little, how much savings in your opinion should he have?
    Sister, from my experience, do not judge a guy's worth with how much saving he has in his bank. Discreetly study his potential worth, both materials as well as his ability/potential.

    but generally speaking, at 35, most "successful" guys already should be worth a million .... but of course there are many people who start making BIG money only after 40!
    always the Light, .... always.

  20. #20

    Default Re: 30k savings, 35 y-o

    Quote Originally Posted by CS TAN View Post
    what is his annual income (salary+bonus+benefits)?
    Does he own any other investment portfolio (stocks & shares, property)?

    EDIT:
    Add: got silver spoon inside his mouth?
    more important question - does he have a GIRLFRIEND???

    to answer your question, i think you need more details of his saving habits. some people may lock their savings into long term investment plans.

    quick and crude calculation:

    age 25 26 27 28 29 30 31 32 33 34
    annual salary with 5% incr 36,000 37,800 39,690 41,675 43,758 45,946 48,243 50,656 53,188 55,848
    less CPF 20% 28,800 30,240 31,752 33,340 35,007 36,757 38,595 40,524 42,551 44,678
    tax less 10% 25,200 26,460 27,783 29,172 30,631 32,162 33,770 35,459 37,232 39,093
    less insurance savings 15% 3,780 3,969 4,167 4,376 4,595 4,824 5,066 5,319 5,585 5,864
    less car expenses 12000k 12,000 12,000 12,000 12,000 12,000 12,000 12,000 12,000 12,000 12,000
    less entertainment exp 20% 5,040 5,292 5,557 5,834 6,126 6,432 6,754 7,092 7,446 7,819
    savings 4,380 5,199 6,059 6,962 7,910 8,905 9,951 11,048 12,201 13,411

    total savings after 10 years 86,026

Page 1 of 22 123611 ... LastLast

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •