[Sg] - S'poreans who have reached age 30 should have an average savings of $71K and $136K by 35; netizens not happy but some said they're quite close

[UltimaOnline]

• 
  New
• #1

Online users have cross-checked a financial website’s calculations after a netizen shared statistics on the alleged average savings Singaporeans of different ages have.

According to the calculator, Singaporeans who have reached 30 years of age should have an average of S$71,000 in savings.

The online user asked Singaporeans if they think these calculations are accurate, adding, "For me, I find it quite close".

Another netizen responded with "Don't create anxiety, please. I've only got two dollars in the bank".

“There’s an article that calculates savings one should have by age based on median salary,” a netizen wrote early in the week, “It says most people save around 30% of disposable income.”

The financial question was posted on an online forum called Ask Singapore.

https://dollarsandsense.sg/much-money-savings-andor-investments-according-age-singapore/

Age 30 - $71K
Age 35 - $136K
Age 40 - $213K
Age 45 - $299K
Age 50 - $374K

According to the financial website, there are several assumptions that were made when making the calculations, including that wages don’t increase over time, the personal savings rate remains constant, and the CPF is not included in savings.

“Even then,” the site wrote, “This feels like the estimate is going to be sketchy – so take the numbers with a pinch of salt.”

Netizens seemed to have mixed responses to the calculations. While some said that it was pretty accurate for them, a few others thought of bringing up certain factors such as family size and expenses such as vacations.

Still, another netizen wrote, “Don’t create anxiety, please. I’ve only got two dollars in the bank.”

Image: screengrab from Reddit Ask Singapore comments / @isthisreallyit1234

Image: screengrab from Reddit Ask Singapore comments / @isthisreallyit1234

Image: screengrab from Reddit Ask Singapore comments / @isthisreallyit1234

Image: screengrab from Reddit Ask Singapore comments / @isthisreallyit1234

Image: screengrab from Reddit Ask Singapore comments / @isthisreallyit1234

Image: screengrab from Reddit Ask Singapore comments / @isthisreallyit1234

Image: screengrab from Reddit Ask Singapore comments / @isthisreallyit1234

Image: screengrab from Reddit Ask Singapore comments / @isthisreallyit1234

Image: screengrab from Reddit Ask Singapore comments / @isthisreallyit1234

https://forums.fuckwarezone.com.sg/...ppy-but-some-said-theyre-quite-close.6829225/

 

[tobelightlight]

U can join OnlyFans and become a millionaire.

 

[Rogue Trader]

When I was 30 years old I was still living pay cheque to pay cheque

 

[disconsolate]

i am not even 30 and already about 1.5m olus minus. of course not i work and got one. my parents give me one.

 

[laksaboy]

'Should'... according to who?

 

[sweetiepie]

At age 30 My uncle also lived from paycheck to paycheck while earning more than now KNN at age 40 he has about 300k then by 50 he exceeded 1mil KNN

 

[Scrooball (clone)]

If u not in privilege banking by 40, you can consider making a trip to Bedok Reservoir