If gauge with property I think you may be in trouble because from what I heard most sinkies living in Singapore are millionaireswith property. For me I don't live in Singapore that's why I'm a lousy quitter.
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What is your net worth per household ?
- Thread starter chootchiew
- Start date
If gauge with property I think you may be in trouble because from what I heard most sinkies living in Singapore are millionaireswith property. For me I don't live in Singapore that's why I'm a lousy quitter.
correction.
Sinkie are millionaires OWNING A RENTAL PROPERTY which they are merely TENANTS! LoL
Oh yeah...song now !
That would be ok for estimating your net assets. But strictly speaking, the term "net worth" usually excludes property for accommodation.
couple without kids at age early 30
net worth about 550k each
net worth about 550k each
Interesting notion you have there... I have a question: what is truly considered mine?
True. ts is like asking my kkj is 4 inch, how long is yours? rather than asking himself if he and his partner enjoyed the sex.
Ts is a true sinkie. Sinkies all have this bad habit. Like to compare this compare that, compare salary compare car compare wife compare kids psle results and you wonder why they are unhappy and making people around them unhappy. I suppose sinkies can only truly be happy when they are the envy of others.
That is why i stay away from sinkies.
That is why i stay away from sinkies.
Interesting notion you have there... I have a question: what is truly considered mine?
Simple, like your CPF la.
Bwahahahahahahaa... Bro, I want to up your points but just added to palden earlier. 24hrs later I'll add to you points
only in sg can a public housing lessee make so much in equity on his rental unit, and if he or she wishes to cash out and move to los or jb, the windfall is sizable. not bad for being a lessee-tenant. sinkies must thank their lucky stars for having the pap in charge.
Equity = Assets - Liabilities
You should take the market value of your total assets minus of all forms of debt you have - mortgage, car, credit card, etc. That would give you your net worth. Your house is also counted as an asset even if it is not for investment.
However, your CPF balance should NOT be counted as an asset. This is because you won't have guaranteed access to your CPF.
That is not logical. A company include ALL its property, plant and equipment under its asset column regardless of what they are used for - even if used as a temporary storage shelter. Your house which provides you shelter should also be under your asset column because by giving your shelter, it enables you to function as a going concern.
don't know about accounting rules in sg, but in u.s. you're correct. the house one lives in is considered part of assets and thus your net worth. and a multi-home owner can easily change residency from one to another. a person can anytime sell his house and turn that into cash. it's a form of liquidity. everything can be insured or sold if there's an underwriter or buyer respectively willing to do it, including virginity, voldemort poster, or one's voice box.
i thought primary residence cannot be counted since everybody needs at least one home to sleep in.and in singapore after u account for the primary residence,most sinkies are left penniless and destitute and requiring a job hustling trays at the hawker center for sustenance.
i don't know about sg accounting rules, but in u.s. your residence in a property you own is counted.
How can prepaid leases for HDB flats be counted as assets? Simply an accounting entry for a future benefit being paid for today. Can country club memberships be counted towards net worth?
On the other hand, land and property are more commonly owned by residents, so it makes sense they are accounted for under net worth.
More proof that sinkies are screwed without them realizing.
On the other hand, land and property are more commonly owned by residents, so it makes sense they are accounted for under net worth.
More proof that sinkies are screwed without them realizing.
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