Anonymous

26 Sep 2019

∙

How is my financial situation compared to my peers of a similar age?

Hi all, random question, I am just checking.

If my net worth is 1.4million (including 2 properties) and I am 35 yrs old in Singapore, where do I sit compared to my peers of a similar age? No family, or car( dun believe in unnecessary liabilities)

Net worth = Total assets - liabilities

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Elijah Lee

25 Sep 2019

Senior Financial Services Manager at Phillip Securities (Jurong East)

I would say you are ahead of most people who are at the age of 35. However, I am not sure how much your properties are worth, and I would also want to highlight that if most of your wealth is in properties, you would want to look at boosting your liquid assets.

To put things in perspective, if you had to choose between 2 options: A) $2m property and $500K cash vs B) $500K property and $2m cash, which would you choose?

Still, you are doing great! Definitely ahead of most peers of your age.

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