Starting new family. Need minimum $150k?

In our chat, someone shared on his semi-retirement at age 32, married with 2 kids. He has some grandparents inheritance boost.  

So I free free make a guess.

How much does it cost to setup a new family.  With rising cost, young couple can be deterred to rush into marriage.

It is very costly to start a family, I think.  Imagine to get married, buy home & furnishing, wedding, honeymoon.  We put aside car ownership and then service the home loan.  

What is the minimum one needs at least $150k to start a family?  "Face" hoh.  Wedding is a woman's big day hoh.  

Maybe I make a guess how much is required to setup one new family in SG; assume:

- 4bedroom hdb: 4% BSD cash + 25% downpayment (5% cash, 20% cash/cpf) of say, $450k home (cash outlay: $18k + 20k = $38k); assume their cpf OA can cover the 20%.

- Basic home furnishing: $50k.  Maybe BTO saves on some renov cost but need to wait for TOP.

- Wedding reception: delta cost damage: $20k

- Wedding package: $20k

- honeymoon: $15k

Total: $38k + $50k + $20 + $20k + $15k = $143k.  (without car)

These days with no help, able to start a family is a super household powerhouse.  

Actually $143k seems do-able?  Maybe I underbudget!!

I salute you.


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