Today is the second edition of our Net Worth Report. đĽ
In this post, Iâm thrilled to share a breakdown of $788M+ net worth aggregated from 1,613 professionals.
Today in 10 minutes or less, youâll learn:
đ¤ H1 2023 net worth and income highlights
đ§ How wealth breaks down by age
đ Top 7 countries by subscribers and wealth
đź Top 13 professions by subscribers and wealth
đ¸đŹ BONUS: Singapore expat asset allocation
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đ¸ Net Worth Report H1 2023
Every 3-6 months, I aim to publish a net worth snapshot of Money Abroad subscribers.
My goal is to provide subscribers with a transparent resource on net worth and income from professionals like you in the Money Abroad Community.
You wonât find this data anywhere else.
All numbers below are self-reported in USD
⥠Try the Net Worth Comparison Calculator
Want to know where you stand? Benchmark your net worth against overseas professionals working at top companies like Google, Amazon, and Stripe using this tool.
đŤ Quick bites
1,613 professionals completed the onboarding survey in H1 2023
~$788M aggregate net worth
~$20M aggregate annual gross income
đ¤ Net Worth
52% of professionals have accumulated wealth of $100k+
11% are millionaires (ka-ching!)
đź Income
45%+ of professionals are earning $10k+/month
15% are earning $50k+/month
đ§ Breakdowns by age, country, profession
Net worth by age
35% of 45-54 professionals were millionaires, compared to 5% of 25-34 professionals
Median professional saves $100k+ by the time theyâre 25 and $250K+ by the time theyâre 35
Net worth by residence countries
Top 7 residence countries by subscribers:
Singapore
United States
United Kingdom
Australia
Canada
India
Indonesia
Sorted by wealth:*
Australia, Singapore, and US have the highest proportion of millionaires
40-60% of overseas professionals in Indonesia & India have $100k+ in net worth. Non-Western countries also make a strong showing
*shows only ages 25-44 due to being the main demographic for Money Abroad
Net worth by role
This part was painfully manual to compile (I grouped liberally). But the insights are fascinating.
Top 13 roles by subscribers:
Product Manager
BD/Sales/Partnerships
VP/Director/GM/Sr Manager
Engineer/Data Science
Founder
Consultant/Freelancer
Marketing
Manager
Strategy/Operations
Analyst
CXO
Finance
Designer/Researcher
Sorted by wealth:*
CXO, VP/Director/GM/Sr Managers, and Founders possess the highest % of millionaires
BD/Sales, Managers, Consultants, and Product Managers are not far behind in millionaire representation
40% of Marketers, Engineers/Data Scientists, Consultant/Freelancer and Analysts had $0-$50k in wealth
*shows only ages 25-44 due to being the main demographic for Money Abroad
𤊠BONUS: Asset allocation of Singapore expats
Do you think expats own a 80% stock/20% bond portfolio? Think again.
Singapore expats allocate 10%+ towards real estate, company equity, crypto, and cash.
â Takeaways
Wealth accumulation happens progressively. Each age group shows a significant jump in net worth.
West is NOT the best. Geography is not a limit. Overseas professionals accumulate wealth in established Western markets and also emerging Eastern markets.
Wealth is consolidated in Executives and Founders. Other professionals like BD/Sales, Managers, Consultants, and Product Managers trail closely behind.
Singapore expats go beyond stocks. They allocate 10%+ towards real estate, company equity, crypto, and cash.
đ Beyond your borders
đ¸đŹ Singapore private home prices fall for first time in three years. Not enough to make much change, but letâs watch if this trend keeps going.
đ¨đł Chinese tech platforms Wechat and Alipay will allow users to link international credit cards. (I can FINALLY not feel like a pleb paying in cash in China)
đŹđ§ For the British passport holders reading, you are now eligible to apply for working holiday visa to Australia up until the age of 35. Time to relocate down under!
đŞ Looking to level up as an entrepreneur? Our friends at Day One publish a weekly newsletter, Future Founders. Every Tuesday they send tactical advice and real-world insights to help you launch, build, and grow your startup. Sign up here!*
*this is a sponsored link
đł Overseas ballot
Here are the results from last weekâs poll:
Several readers wanted recommendations for lawyers, accountants, and financing options. Weâll dive into this in the future.
Here is this weekâs poll:
Which of these would you most want to see in Money Abroad's premium membership?
đ How I can help
Thatâs all for today!
Whenever youâre ready, here are 2 ways for us to work together:
Promote your business to 3,600+ high-skilled professionals, C-level executives, and founders by sponsoring this newsletter.
Schedule a 1:1 coaching call with me on achieving your financial goal.
