How Much is Your Net Worth?

(13-12-2014, 01:56 AM)specuvestor Wrote: ^^ agree... When young got time and energy, mid-age got energy and money, old-age got time and money. It is a trade off that we need to manage wisely else too late to rewind

If one is disciplined in saving (ie manage expense) and wise in investing then calculating net worth is not crucial... It is only important when one needs to remind oneself

Quote: In the 37th-floor lobby of GIC's headquarters at Capital Tower, an aphorism from its late deputy chairman Goh Keng Swee is inscribed on a wall. "The more you save and the more wisely you invest, the faster you get rich."

u worked there?

Net worth is ultimately just a number. I think it's more important when we can define what "enough" means. Otherwise, it becomes a hedonic treadmill where everyone keeps chasing a higher number.

Incidentally, I put forth this concept some younger colleagues and they look shocked and surprised by the concept of "enough". To them, net worth should always keep growing and people should always want "more".

But knowing our limits and being satisfied with what we have are more important for our psychological well-being than an endless chase for money.

Different people, different choices of life...
As long as happy, good enough leh!

In Singapore, we have a good life generally, hope it will get better!

I completely agree that net worth is just a number and it is more important to know when/what is enough. Those who don't will never be happy or their happiness may be just a temporary high.

However, an ever increasing net worth will give a person more options, more resources to do good for this world and society so I think an ever increasing net worth for someone who already knows what is enough to make him/her happy is a much better force than just knowing what and when is enough.

Having said that, glad to have you back!

(13-12-2014, 09:00 AM)Musicwhiz Wrote: Net worth is ultimately just a number. I think it's more important when we can define what "enough" means. Otherwise, it becomes a hedonic treadmill where everyone keeps chasing a higher number.

Incidentally, I put forth this concept some younger colleagues and they look shocked and surprised by the concept of "enough". To them, net worth should always keep growing and people should always want "more".

But knowing our limits and being satisfied with what we have are more important for our psychological well-being than an endless chase for money.

Quitting while you are ahead is different from quitting.

Even 'quitting' or 'enough already' is not an absolute or binary decision.

can semi-quit or semi-enough.

(13-12-2014, 11:32 AM)kazukirai Wrote: I completely agree that net worth is just a number and it is more important to know when/what is enough. Those who don't will never be happy or their happiness may be just a temporary high.

However, an ever increasing net worth will give a person more options, more resources to do good for this world and society so I think an ever increasing net worth for someone who already knows what is enough to make him/her happy is a much better force than just knowing what and when is enough.

Having said that, glad to have you back!

(13-12-2014, 09:00 AM)Musicwhiz Wrote: Net worth is ultimately just a number. I think it's more important when we can define what "enough" means. Otherwise, it becomes a hedonic treadmill where everyone keeps chasing a higher number.

Incidentally, I put forth this concept some younger colleagues and they look shocked and surprised by the concept of "enough". To them, net worth should always keep growing and people should always want "more".

But knowing our limits and being satisfied with what we have are more important for our psychological well-being than an endless chase for money.

(13-12-2014, 09:00 AM)Musicwhiz Wrote: Net worth is ultimately just a number. I think it's more important when we can define what "enough" means. Otherwise, it becomes a hedonic treadmill where everyone keeps chasing a higher number.

Incidentally, I put forth this concept some younger colleagues and they look shocked and surprised by the concept of "enough". To them, net worth should always keep growing and people should always want "more".

But knowing our limits and being satisfied with what we have are more important for our psychological well-being than an endless chase for money.

Hi Musicwhiz,

Good to see your post again. A timely reminder indeed for people like me still in hot pursuit to UP my networth.

Thanks and Welcome back bro.

Whether u have 1 million or 100 million, u cannot even carry with u when u leave this world . What is the point ? If u are a healthy person ( eg with no rheumatism even at an old ripe age of 70 years old ) u are already a millionaire by any account

What we really need is spiritual enlightenment rather than monetary enlightenment ....

(13-12-2014, 07:00 PM)Curiousparty Wrote: Whether u have 1 million or 100 million, u cannot even carry with u when u leave this world . What is the point ? If u are a healthy person ( eg with no rheumatism even at an old ripe age of 70 years old ) u are already a millionaire by any account

What we really need is spiritual enlightenment rather than monetary enlightenment ....

Well said. Money can only buy happiness temporary after a while you start to crave for more.

i hope more money can be deployed to help kids for schools and elderly aging..

I think that a number can mean different things to different people.
So long as the person need not worry about the basic essentials and able to lead a reasonably comfortable life, that's good enough.

Over stretching can be quite a problem for some people, spending beyond one's means. The TDSR is good in this respect, it helps people to buy a house they can comfortably afford. It's like driving a cheap 2nd hand car paid in full rather than a brand new luxury car but having a loan that eats up a significant portion of your income.

Also one's absolute net worth can be seen by what banking facilities he/she hold. Normal day to day/Priority/Private.
For high net worth private banking, the bank comes to you, you need not actually visit the bank. And that's why you dont see the ultra rich visiting banks.
Me, I visit the bank almost every other day and from what I know I can tell you the POSB at AMK central is probably the least crowded among all the POSB/DBS in sgp.
Probably due to the crowds drawn to nearby DBS at AMK hub.