What is the average net worth of a Singaporean?

Singapore has one of the highest wealth-per-capita figures globally. According to Credit Suisse Global Wealth Report (2023), the median wealth per adult in Singapore is approximately USD 108,000 (~SGD 145,000), while the mean (average) is USD 397,000 (~SGD 535,000). The large gap between median and mean reflects high wealth concentration among the top decile. These figures include CPF, property equity, financial assets, and subtract liabilities.

Does CPF count towards net worth in Singapore?

Yes — CPF (OA, SA, MA, RA) is part of your net worth. For most Singaporeans under 45, CPF makes up the largest single asset. However, it's 'locked' — you can't freely withdraw or invest it outside CPF rules. Many financial planners split net worth into 'total net worth' (including CPF and home equity) and 'liquid/investable net worth' (cash, stocks, bonds — accessible without restrictions).

Should I include my HDB flat in net worth calculations?

Yes, but with nuance. Include the current market value of your HDB (not purchase price) and subtract the outstanding loan balance to get net equity. However, your HDB is illiquid — you can't sell it without alternative housing. Many planners use 'home equity' as a separate category and focus on liquid net worth for retirement planning purposes.

What net worth should I aim for by 40 in Singapore?

A common rule of thumb: by age 40, aim for a net worth equal to 3–5× your household annual income. For a household earning S$10,000/month (S$120,000/year), that's S$360,000–600,000. Include CPF and property equity, but also ensure you have at least 1–2× annual income in liquid assets (not locked in CPF or property) for financial flexibility.

How do Singaporeans build wealth?

The primary wealth-building engines for Singaporeans are: (1) CPF compounding — OA/SA earn 2.5–4% with employer top-ups; (2) HDB appreciation — most Singaporeans' homes have appreciated significantly over the decades; (3) Investments — stocks, REITs, unit trusts via brokerage or CPF-IS; (4) SRS contributions — tax-deferred investment account. The most common mistake is keeping too much in savings accounts earning 0.05–1% instead of investing.

Singapore Net Worth by Age 2026

How does your net worth compare to other Singaporeans your age? Benchmarks by age group based on CPF data, SingStat household surveys, and wealth reports. See where you stand and what targets to aim for.

Net Worth Benchmarks by Age Group

Figures below are approximate Singapore median and average net worth by age group, inclusive of CPF, property equity, and financial assets (minus liabilities). Sources: MAS, CPF Board annual reports, SingStat, Credit Suisse Global Wealth Report (2023–2024 estimates).

Age	Median	Average	What it includes
25–29	S$45,000	S$72,000	Mostly CPF OA/SA + emergency savings. Property unlikely. Student loans may reduce.
30–34	S$130,000	S$220,000	CPF building up. HDB purchase likely (CPF used). Net worth dips if upgrading.
35–39	S$260,000	S$480,000	CPF growing rapidly. Property equity building. Investments hopefully started.
40–44	S$420,000	S$820,000	Peak earning years. Property equity significant. CPF OA/SA compounding strongly.
45–49	S$560,000	S$1,150,000	Mortgages closer to payoff. CPF SA reaching FRS range. Focus on retirement readiness.
50–54	S$680,000	S$1,400,000	CPF SA close to FRS. Peak net worth accumulation window. Children costs peaking.
55–59	S$750,000	S$1,600,000	CPF RA created at 55. Mortgage near payoff for most. Net worth often property-heavy.
60–65	S$820,000	S$1,750,000	Approaching retirement. CPF LIFE at 65. Many have fully paid HDB.

Estimates based on public data aggregation. Individual circumstances vary significantly. High-income earners and property owners skew averages upward.

What Counts as Net Worth?

Assets (Add)

✓ Cash & savings accounts
✓ CPF OA + SA/RA + MA
✓ Investments (stocks, ETFs, REITs)
✓ SRS account balance
✓ Property market value
✓ Vehicle resale value
✓ Whole life cash value
✓ Business ownership stake

Liabilities (Subtract)

✗ Outstanding home loan
✗ Car loan balance
✗ Personal / renovation loan
✗ Credit card outstanding
✗ Education loan (MOE/CPF)
✗ Business liabilities

Targets by Age — Singapore Rules of Thumb

25–29

≥ 3× annual salary saved/invested

30–34

≥ 0.5× home value in liquid assets

35–39

~1× household annual income in investable assets

40–44

~3–4× household annual income in total net worth

45–49

~5–6× annual income in net worth

50–54

~6–8× annual income; aim to have FRS in CPF by 55

55–59

CPF FRS set aside; ≥S$500K liquid/investable ex-property

60–65

CPF LIFE covers basic needs; supplementary savings for lifestyle

How to Grow Your Net Worth in Singapore

Maximise CPF — it's your best guaranteed return

SA earns 4% p.a. risk-free. Topping up SA voluntarily (up to FRS) gives tax relief and compounds tax-free. For most Singaporeans under 50, CPF top-ups are the highest-risk-adjusted return available.

Invest — don't save

Cash in a savings account at 0.05% loses to inflation. Even the best SG savings accounts (3–4%) barely keep pace. Long-term investing in diversified index funds (STI ETF, MSCI World) historically returns 6–8% p.a. Time in market beats timing the market.

Use SRS for tax-efficient investing

SRS contributions reduce taxable income (up to S$15,300 for SC/PR). The money can be invested in stocks, ETFs, or unit trusts within SRS. At retirement, only 50% of SRS withdrawals are taxable. Especially effective for those paying 11.5%+ marginal tax.

Control housing upgrade decisions

The single biggest wealth destroyer for Singaporeans is over-leveraging on property upgrades. Resale private property has not guaranteed better returns than investing the cost difference. Run the numbers before upgrading from HDB to condo.

Frequently Asked Questions

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Net worth benchmarks are estimates derived from publicly available data and should be treated as rough guides only. Individual circumstances vary. Data sources: MAS Financial Stability Review, CPF Board Annual Report, SingStat, Credit Suisse Global Wealth Report 2023. Last updated: 2026.