MAN EARNING $12,500 MONTHLY ASKS IF HE HAS ENOUGH SAVINGS

Hi,

I am 28 years old and I started working at 26 after getting qualified.

My starting pay check was 5.2k monthly for 1.5 years before I got headhunted and switched firm half a year ago. The new job started with 11.5k for the first 6 months. My salary just got reviewed and I am currently earning 12.5k this month.

This is my current savings portfolio:

Cash savings: approx 29k
CPF OA: approx 31k
CPF SA: approx 8.5k

Investment linked policy surrender value: approx 6.2k.

I have not started investing in stocks and am thinking of going into property after accumulating more savings for down payment. I target to get first property 1.5 to 2 years from now.

How am I doing? Is there a national savings guide on how much one should have saved by 28 (apart from the JP morgan survey). Just looking for mean values across age groups to compare how I fare.

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