How much are you earning per annum? - Page 1141 - Salary.sg Forums
Salary.sg Forums  

Go Back   Salary.sg Forums > The Salary.sg Discussion Forums: > Income and Jobs

Income and Jobs Discuss jobs, career options and of course salaries




How much are you earning per annum?

Reply
 
Thread Tools
  #11401 (permalink)  
Old 22-03-2018, 08:00 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered_101 View Post
Cause he made his initial pot from property, given today's market not possible to replicate. Anyway we treat him as our resident nut job, give it a few hours or a day or two and another post will come praising his accomplishments despite it being so mediocre lol

I am not the guy who posted about making his fortune and retired at 49. But I would like to say that many people are still striking their pot of gold through property - just have to look at the pace of enblocs going around you. After this round of enblocs, the next cycle could be a good 15 to 20 yrs later.

You also hit the nail right on the head about the poster being a nut case and praising his own posting. There is indeed an unmistakable pattern to it.

I am the guy (old man) who advocates working through your 50s and not to retire before that. This is because the period from 55 to 62 is the golden period for accumulating your nest egg. This is the period where your financial obligations taper off, your salary peaks and if you are invested - your passive income should be firing at full cylinders.

I am sharing from personal experience. Before 50, we were saving below $200k pa. After 50, our savings rate grew at a faster clip. Last year we were able to save $400k!

If we factor in our properties value appreciation because of the enbloc craze, our networth grew by more than $1m in just 2 years.

Reply With Quote
  #11402 (permalink)  
Old 22-03-2018, 10:58 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
I am not the guy who posted about making his fortune and retired at 49. But I would like to say that many people are still striking their pot of gold through property - just have to look at the pace of enblocs going around you. After this round of enblocs, the next cycle could be a good 15 to 20 yrs later.

You also hit the nail right on the head about the poster being a nut case and praising his own posting. There is indeed an unmistakable pattern to it.

I am the guy (old man) who advocates working through your 50s and not to retire before that. This is because the period from 55 to 62 is the golden period for accumulating your nest egg. This is the period where your financial obligations taper off, your salary peaks and if you are invested - your passive income should be firing at full cylinders.

I am sharing from personal experience. Before 50, we were saving below $200k pa. After 50, our savings rate grew at a faster clip. Last year we were able to save $400k!

If we factor in our properties value appreciation because of the enbloc craze, our networth grew by more than $1m in just 2 years.
You are the nut case. Repeated your story so many times.
Don't be envious of others.

Reply With Quote
  #11403 (permalink)  
Old 22-03-2018, 05:33 PM
Unregistered_101
Guest
 
Posts: n/a
Default

As you said there are many people making their first pot from property but that said I don't think that applies to most of the people asking advise on this forum. Most people who are fortunate enough to get en bloced (and not property investors) are probably in their late 40's (my assumption). Its akin to a the son of a rich man taunting those around him.

This chap likes to portray as if most of his "fortune" came from his work, but what is most incorrigible is his repeated egoistic post which obviously derives some pleasures in thinking he is above all forgetting everyone starts with differing circumstance and or commitments. (I agree there are some mental concerns to be had here)

Anyway enough about him

With regards to retirement I can't say when one should retire, if one has money but enjoy his job and gives good work/life balance once can literally never retire and that's perfect IMO.

Personally if the above suits where you are then congrats, unfortunately in my industry work life balance is not part of the corporate plan so unlikely I will see myself working till that stage in this arena. But like you I've made outside investments which permits me options to explore heng ah.

Quote:
Originally Posted by Unregistered View Post
I am not the guy who posted about making his fortune and retired at 49. But I would like to say that many people are still striking their pot of gold through property - just have to look at the pace of enblocs going around you. After this round of enblocs, the next cycle could be a good 15 to 20 yrs later.

You also hit the nail right on the head about the poster being a nut case and praising his own posting. There is indeed an unmistakable pattern to it.

I am the guy (old man) who advocates working through your 50s and not to retire before that. This is because the period from 55 to 62 is the golden period for accumulating your nest egg. This is the period where your financial obligations taper off, your salary peaks and if you are invested - your passive income should be firing at full cylinders.

I am sharing from personal experience. Before 50, we were saving below $200k pa. After 50, our savings rate grew at a faster clip. Last year we were able to save $400k!

If we factor in our properties value appreciation because of the enbloc craze, our networth grew by more than $1m in just 2 years.

Reply With Quote
  #11404 (permalink)  
Old 23-03-2018, 11:25 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered_101 View Post
As you said there are many people making their first pot from property but that said I don't think that applies to most of the people asking advise on this forum. Most people who are fortunate enough to get en bloced (and not property investors) are probably in their late 40's (my assumption). Its akin to a the son of a rich man taunting those around him.

This chap likes to portray as if most of his "fortune" came from his work, but what is most incorrigible is his repeated egoistic post which obviously derives some pleasures in thinking he is above all forgetting everyone starts with differing circumstance and or commitments. (I agree there are some mental concerns to be had here)

Anyway enough about him

With regards to retirement I can't say when one should retire, if one has money but enjoy his job and gives good work/life balance once can literally never retire and that's perfect IMO.

Personally if the above suits where you are then congrats, unfortunately in my industry work life balance is not part of the corporate plan so unlikely I will see myself working till that stage in this arena. But like you I've made outside investments which permits me options to explore heng ah.
Perhaps you missed my point about working during the golden period. During this period, you might or might not have achieved financial independence, but nevertheless as your financial obligations taper off, you start to have options open to you regarding the kind of job you wish to take on.

If your current job is giving you high level of stress, you can/should look for a less stressful job albeit with lower remuneration. The important thing is to keep working and earning a salary during this period as this is the "last mile" to really pad up your retirement nest egg.

For us, we achieved financial independence around 54/55. This was when our passive income exceeded our expenses. From that moment on, each year we worked, we saved the full salary, bonus and all including any left over from the yearly passive income.

We did think about changing jobs to those that would allow us more control of our time. Never in our mind did we think about giving up working altogether just because we achieved financial independence. It was important to us that we continue to be productive members of our society. Furthermore we have heard of people who retired early and gone into depression because they lost their purpose in life.

Astute people will continue to work during this period (55 to 62) as this period gives them the fastest growth to their nest egg. Beyond 62, some companies tend to pay less with reduced workload.
Reply With Quote
  #11405 (permalink)  
Old 30-03-2018, 11:54 AM
Unregistered
Guest
 
Posts: n/a
Default

We are the average 35 yo male and 33 yo female couple earning $180,000 p.a. We have a 3-room hdb fully paid. Resale value is around $350K. Our car is a Japanese sedan left with $20,000 outstanding loan and 2 years loan tenure. $250,000 in cash and $150,000 in Cpf OA. No investment portfolio beside endowment plans. No children. Any suggestion for passive income and wealth accumulation portfolio? Much appreciated.


SG BusLeh mobile app
SG BusLeh - the best bus app - available on iPhone and Android


SGX Stocks Android App - check share prices
SGX Stocks [Android] App - check latest share prices on the go


SGX Stocks for iPad - check latest Singapore share prices
SGX Stocks [iPad] app
| SGX Stocks [iPhone] app
Reply With Quote
  #11406 (permalink)  
Old 30-03-2018, 06:09 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
We are the average 35 yo male and 33 yo female couple earning $180,000 p.a. We have a 3-room hdb fully paid. Resale value is around $350K. Our car is a Japanese sedan left with $20,000 outstanding loan and 2 years loan tenure. $250,000 in cash and $150,000 in Cpf OA. No investment portfolio beside endowment plans. No children. Any suggestion for passive income and wealth accumulation portfolio? Much appreciated.
You asked the "million dollar" question.

Everyone wants to know how to get rich.

For the average Jane & Joe, there is no short cut. And there is also no secret formula.
These "tricks" or steps have worked for many who have walked the path and will continue to hold true for generations to come.

1. To build wealth, you need an income. Incomes come from having work. You need to be in employment to have a salary/income.

2. The next step after having an income is to save. If you spend all you earn, you know you cannot grow your wealth. How much you can save from your income will determine how fast your wealth will grow.

3. The next important factor to wealth building is time. If you faithfully perform steps 1 & 2 over many years (30 to 40 years), you will be able to build up substantial wealth. Saving $50k yearly will give you $2M over 40 years. Saving $100k pa will give you $4M, etc...

4. The next thing you need to do is to protect that wealth from being eroded by inflation. Here, the CPF SA gives 4% which is slightly above inflation rate, so dont touch that money. Over time it will compound to a nice amount. For the rest of the savings, you can buy blue chips or ETF funds if you are not into buying individual stocks. Dont trade in stock. If you have substantial savings, buying a property for rental income and capital protection is another option.

5. Finally, be aware that investments bring both returns and risks. Bad investment choices will erode your wealth rather than build it!

Of all the steps, steps 1 to 3 are the foundations for any average Jane and Joe looking to building up a comfortable retirement nest egg. Neglecting one of them and you will not be able to build up your wealth properly.
Reply With Quote

  #11407 (permalink)  
Old 31-03-2018, 08:53 PM
Unregistered
Guest
 
Posts: n/a
Default

We are the typical average local uncle and auntie who plan to retire at age 55. At 55, we will collect our CPF monies after setting aside monies for the CPF Life ERS.

As both of us have always been frugal, after taking into account an inflation rate of 3% pa, we will just need $500k (or lesser) to spend from age 55 to 65. This is mainly for our food, groceries, utilities, public transport, insurance, entertainment and holidays. Our retirement expenses from age 55 to 65 will be funded by our cash savings, CPF monies and dividends. We will retire in place in our current home. We have good, friendly neighbours.

From age 65 onwards, we will get $4k pm from CPF Life and $1k pm from our dividends. Total passive income $5k pm or $60k pa. This is more than what both of us need. Having adequate insurance (bought many years ago) and Medisave savings give us peace of mind.

We hope to remain healthy in old age by living a healthy lifestyle of regular exercising, eating healthy food, less sugar, less stress, enough rest, enough sleep, etc. We are looking forward to our retirement at 55.
Reply With Quote
  #11408 (permalink)  
Old 01-04-2018, 09:30 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
We are the average 35 yo male and 33 yo female couple earning $180,000 p.a. We have a 3-room hdb fully paid. Resale value is around $350K. Our car is a Japanese sedan left with $20,000 outstanding loan and 2 years loan tenure. $250,000 in cash and $150,000 in Cpf OA. No investment portfolio beside endowment plans. No children. Any suggestion for passive income and wealth accumulation portfolio? Much appreciated.
Your income is very high. You should upgrade to a condo.
Reply With Quote
  #11409 (permalink)  
Old 02-04-2018, 09:53 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
You asked the "million dollar" question.

Everyone wants to know how to get rich.

For the average Jane & Joe, there is no short cut. And there is also no secret formula.
These "tricks" or steps have worked for many who have walked the path and will continue to hold true for generations to come.

1. To build wealth, you need an income. Incomes come from having work. You need to be in employment to have a salary/income.

2. The next step after having an income is to save. If you spend all you earn, you know you cannot grow your wealth. How much you can save from your income will determine how fast your wealth will grow.

3. The next important factor to wealth building is time. If you faithfully perform steps 1 & 2 over many years (30 to 40 years), you will be able to build up substantial wealth. Saving $50k yearly will give you $2M over 40 years. Saving $100k pa will give you $4M, etc...

4. The next thing you need to do is to protect that wealth from being eroded by inflation. Here, the CPF SA gives 4% which is slightly above inflation rate, so dont touch that money. Over time it will compound to a nice amount. For the rest of the savings, you can buy blue chips or ETF funds if you are not into buying individual stocks. Dont trade in stock. If you have substantial savings, buying a property for rental income and capital protection is another option.

5. Finally, be aware that investments bring both returns and risks. Bad investment choices will erode your wealth rather than build it!

Of all the steps, steps 1 to 3 are the foundations for any average Jane and Joe looking to building up a comfortable retirement nest egg. Neglecting one of them and you will not be able to build up your wealth properly.
Thanks for taking the time to reply. We are lacking in step 4 and 5. Have to put in the hard work to research and find out more. It will be good to have some passive income during retirement and not depend solely on savings. We did think of investment in a second property but it doesn't seem like a good move with the oversupply of private properties in the market. Nonetheless, it's good to save more and have the option to enter the property market during the down trend.
Reply With Quote
  #11410 (permalink)  
Old 02-04-2018, 10:44 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Your income is very high. You should upgrade to a condo.
Our income is only average. It pales in comparison to many high achievers here.
Reply With Quote
Reply

Bookmarks

Tags
bond, bond breaking, income pa, lawyer, saf

« Previous Thread | Next Thread »

Thread Tools

Posting Rules
You may not post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are On
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Industries with Highest Proportion Earning 5-Figure Monthly Income Salary.sg Income and Jobs 23 06-08-2017 05:46 PM
Lawyer earning $25k/mth forged $65k payslip to get job Salary.sg Income and Jobs 2 30-12-2011 01:42 PM

» 30 Recent Threads
ST Electronics ( 1 2 3... Last Page)
175 Replies, 62,078 Views
Lawyer Salary ( 1 2 3... Last Page)
2,886 Replies, 916,642 Views
Career as Teacher ( 1 2 3... Last Page)
1,046 Replies, 747,365 Views
Whats your net worth ( 1 2 3... Last Page)
2,602 Replies, 600,910 Views
Exxon Mobil Equipment tech or... ( 1 2 3... Last Page)
1,299 Replies, 253,860 Views
MINDEF DXO (All FAQ on it) ( 1 2 3... Last Page)
1,878 Replies, 1,113,538 Views
Aircraft Maintenance License and... ( 1 2 3... Last Page)
555 Replies, 360,981 Views
MOH Job
2 Replies, 203 Views
SIM-RMIT fresh grad starting pay ( 1 2 3... Last Page)
192 Replies, 115,457 Views
Q: Big4 - Yearly salary increment ( 1 2 3... Last Page)
726 Replies, 432,837 Views
How long does SIA get back after... ( 1 2)
14 Replies, 5,397 Views
Mid-Year Civil Servant Bonus 2018
5 Replies, 2,101 Views
Credit Suisse - Compliance... ( 1 2 3... Last Page)
93 Replies, 39,883 Views
Working in a bank ( 1 2 3... Last Page)
512 Replies, 252,241 Views
Compare civil service salary ( 1 2 3... Last Page)
7,001 Replies, 3,712,806 Views
Civil Svc/ Statboard - Typical... ( 1 2 3... Last Page)
970 Replies, 410,674 Views
Shell TDP ( 1 2 3... Last Page)
83 Replies, 15,401 Views
Shell Graduate program ( 1 2 3... Last Page)
135 Replies, 78,029 Views
AML/Compliance/KYC professionals... ( 1 2 3... Last Page)
1,202 Replies, 324,925 Views
Top paying companies in SG for... ( 1 2 3... Last Page)
48 Replies, 27,036 Views
Should I pursue a Masters in...
0 Replies, 296 Views
Officer Role in Bank of Tokyo -... ( 1 2 3... Last Page)
162 Replies, 109,080 Views
Secondary School Ranking 2017
2 Replies, 5,106 Views
What makes Investment-Linked...
5 Replies, 5,745 Views
teaching English as a career
1 Replies, 427 Views
List of Management Associate... ( 1 2 3... Last Page)
174 Replies, 82,046 Views
Job Application with MOE... ( 1 2 3... Last Page)
159 Replies, 116,521 Views
How rich/poor am I compared to... ( 1 2 3... Last Page)
41 Replies, 21,739 Views
Civil Service Performance Bonus ( 1 2 3... Last Page)
928 Replies, 644,845 Views
Powered by vBadvanced CMPS v3.2.2



All times are GMT +8. The time now is 09:30 PM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2018, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.3.2