30k savings, 35 y-o

[whizzard]

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?

If savings include investments, then $30k at 35 is way too low.

As the saying goes, "I would like to make my first million by the time I am 30". That was the aspiration of a lot of ambitious guys during their uni days.

My personal opinion (and there's no right or wrong)? $500k in savings and investments by 35 should be the minimum passing hurdle.

 

[9V-Orion Images]

Most Singaporeans are asset rich but cash poor like err.... me. :sweat:

 

[raincool2005]

bread and butter issue; it is not wrong for every woman who wants a man with strong financial abilities ... but good marriage takes more than $.

... and also beware when a man had too much $, he will also want more than just one woman (just like lenses) :sweat:

 

[Parka]

How about a person whose ability to earn $100K per month but save nothing? (i.e. splurge 100% of his income

Saving money just requires only discipline.
Earning money requires actual application of knowledge and discipline.

The latter is more difficult.

Your example is exactly what I'm doing with my online business right now: spending (which is actually called investing) every single cent I earn. That's why I have revenues but no profits (yet).

 

[Rashkae]

Is it *really* so important what his savings are? Is that really how you measure his real worth or his "eligibility"?

Tsk.

 

[jazggio]

well. 2 ways to look at it.

1) If he is still drawing an income; $30K is lots. Wedding dun need money becos angbao will cover.

2) 2nd question will be; what does he intend to do with the 30K. If he invest and gets a compounded annual interest of 9%. By the time he retires, he shiok shiok. Or if he trades with a leverage of 10x; he could well retire by 2012.

What u have now does not equate to what you have in the future. If the man is ambitious, bright and righteous be assured he will not be only worth 30K in the near future.

just my 2 pennies

 

[izerkudie]

life is complicated enough, nevermind about the numbers.. :sweat:

 

[Kongo]

Define "Savings"..

Savings as in liquidity? Cash on hand and Cash at banks only?

What about equity & investments? Fixed Assets?

I think it's probably quite common that a lot of Singapore men are still a few hundred thousand dollars in debt at the age of 35, if he own a house..

How much liquidity he is willing to hold can actually be dependent on interest rate level and investment opportuniy etc..

But if you are refering to some guy who is not married, didnt own any property, equity or investment and has only 30k savings in his bank, then I guess it's a bit on the low side..

 

[aryanto]

If he invest and gets a compounded annual interest of 9%. By the time he retires, he shiok shiok.

whoa where do this kind of thing consistently from age 35 till retirement :bigeyes:

 

[iMac08]

are we drifting further and further away from TS's original intention?

 

[aryanto]

are we drifting further and further away from TS's original intention?

the risk of putting it in kopitiam

@TS: if you want serious answer all round post it at sgfunds forum

 

[tikiman]

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?

30K is better than other... I know of a classmate of mine with 30K worth of debts few years after he worked... no control over credit cards. Frankly, It not how much he has in bank. it is how much he is saving. On the other hand, how much saving u have? it is proportional to him?

 

[scanner]

May I know what is your objective in asking this?

Frankly speaking, 30k saving for a 35 years is way too low.
In current corporate world, especially in private sector, when you reached the age of 40, you are in the danger of been booted out when the economy turn bad, because you are either "too old" or could be expensive to stay employ.

Just to advise those youngsters out there, start saving and use the saving wisely to invest and target to retire early.

 

[raincool2005]

May I know what is your objective in asking this?

Frankly speaking, 30k saving for a 35 years is way too low.
In current corporate world, especially in private sector, when you reached the age of 40, you are in the danger of been booted out when the economy turn bad, because you are either "too old" or could be expensive to stay employ.

Just to advise those youngsters out there, start saving and use the saving wisely to invest and target to retire early.

... just take a walk around cineleisure, plaza sing and powerhse... i guess life is gg to be hard for them even at late 20s.. not to mention 30s or 40s, these types grew up so comfortable lives... how to endure hardships ??

 

[kkvolution]

I used to save 8K in 10 months for being a Engineer Assistant. So I tink 30K is not really that alot.

 

[night86mare]

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?

my opinion is that

I HEAR WEDDING BELLS


恭喜恭喜！！！ :bsmilie::bsmilie:

 

[night86mare]

Is it *really* so important what his savings are? Is that really how you measure his real worth or his "eligibility"?

Tsk.

well, it is better than seeing how well his lens caps balance on her erm.... assets!

:angel:

ok jeanie zeh zeh going to kill me!!!!!!!!

 

[night86mare]

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?

NOT ENOUGH INFORMATION

the more important questions are:

1) is he yandao enough?
2) is he muscular enough?
3) is he charming enough?


anyways, jokes aside....... this kind of question so hard to answer, if he has 30k worth of cash, and 80 million tied up in illiquid assets............ that's very different from someone who just decided to sell everything he had, and then have 30k worth of cash in the bank and no house, no nothing, not even a single piece of underwear. :bsmilie:

 

[ed9119]

trust CS'ers to over analyze.....after 3 pages, the original question has not been answered

30k savings is respectable

But I always advise the young girls...... dont go looking for a rich guy...... you'll do better with a guy who has his head screwed on right side up , is capable, hardworking ...and loves you. The rest will fall into place

 

[kkvolution]

But I always advise the young girls...... dont go looking for a rich guy...... you'll do better with a guy who has his head screwed on right side up , is capable, hardworking ...and loves you. The rest will fall into place

:thumbsup::thumbsup::thumbsup: