Is your Net Wealth 300k?


The average household has a net wealth of $710,400, says an interesting article in New Paper on Sunday.

Total Assets: $859,970
Currency & Deposits $157,930
Shares & Securities $120,360
Life Insurance Equity $76,820
CPF/Pension Funds $119,930
Residential Property $384,920

Total Liabilities: $149,570
Mortgage Loans $110,390
Personal Loans $39,180

Net Wealth: $710,400

But that figure applies to the average household. What about the average person?

To keep things simple, let’s assume that each household has 2 breadwinners. So, roughly, each income-earning individual has an average net wealth of about $300k.

$300k wealth, on average.

Is your net wealth above average?

See this post on how to calculate your net wealth, or net worth, and compare it against a benchmarking formula based on your age.

Note: The TNP writer derived the $710,400 figure based on end-2006 data in the Yearbook of Statistics Singapore, 2008.


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  1. over 50% of Singaporeans earn less than $3000 per month..minus the daily and monthly neccessities and best u are left with $500.

    anyway the figures are wrongly skewed…but it does highlight one important fact..the income disparity or wealth distribution is badly skewed here in SG….

  2. Does it include Permanent Residents? Anyway Shares and Securities are not accurate. It could be more as singaporeans buy US shares and these US shares are not custodised with CDP(SGX) but in US custodians.

    Singaporeans are either filthy rich or super savers…!

  3. 100% agree with Charles. With “average”, 1 person with a net worth of 100 million can bring the average up even though the overwhelming majority earn way less than the resulting average.

    What we’re looking for is median, correct.

  4. 700K per household looks pretty high, probably skewed by the ultra wealthy. nonetheless, it does go to show how wealthy singaporeans are as a whole, due to super saving habits and rapid economic progress

  5. Thanks, and same to you. But I also think that although saving is a good habit, it will only get one so far. Most people really only become wealthy with by taking advantage of business or investment opportunities. For example, many investors realised capital gains of several hundred thousand dollars from the property boom last year. The current financial crisis also presents good investment opportunities to multiply one’s capital given a time-frame of at least 5 years.

  6. Many of us in Singapore are good savers but many people here also have bought so many things on credit and the total cost of those things should be deducted from our savings. I have friends who own things like cars, TVs, furniture, and so on that they are paying for on installment. When I bought my TV with cash the clerk at Harvey Norman was was surprised because he said usually people pay on installment. This is all debt. However one thing that helps us in Singapore (besides the government subsidized housing) is that most of us young people live at home, while in the west young people like to live on their own. So even though their salaries are much higher, they save less because they all have their own houses and apartments and party and travel so much.

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