How much are you earning per annum?

Originally Posted by Unregistered

wow this is interesting indeed! thanks for sharing!

is this take home or gross pay? what are taxes like there? do surgical consultants get paid much more ?

Gross pay. Taxes very very high. Sorry not suitable to clarify here. s://.gov.uk/personal-tax/income-tax

Originally Posted by Unregistered

May I ask, in your opinion, what were the key ingredients/ lessons learnt in bringing up your children to be so successful and yet filial? I'm sure all of us with young children can learn something for you.

As caring parents. Teach them good values. Leadership by example. Don't ask from them, what ever amount they give, don't decline even if you do not require that extra pocket money.
I am not sure whether my wealth is also a contributing factor. I will leave everything to my wife. Should I KO first, I want to make sure my wife command due respect. There will be no problem if my wife to go first.
I have confident what my children do now is due to good up bringing, and deep from their own hearts. You should able to sense it.

Originally Posted by Unregistered

Why do you not want to retire now when your passive income already covers your expenses?

It's better for me to have a much higher passive income before I retire.

Originally Posted by Unregistered

Gross pay. Taxes very very high. Sorry not suitable to clarify here. s://.gov.uk/personal-tax/income-tax

thanks for the info! cheers

There are so many big shots in this forum. I think I am the poorest among the forumers here. I am already 50 years old. I live in an old condo which is worth only $800k and I am still paying the loan. My total income with my wife is only $70k pa. Anyone here earn less than me?

Originally Posted by Unregistered

There are so many big shots in this forum. I think I am the poorest among the forumers here. I am already 50 years old. I live in an old condo which is worth only $800k and I am still paying the loan. My total income with my wife is only $70k pa. Anyone here earn less than me?

Cool it man. Half of them could well be liars. Individuals making more than 100k pa are still few by and large, going by the official stats. For a couple, the average world be 150k pa thereabouts.

What is important is whether what you earn is sufficient for your expenses. If you can save some money at the end of each month/year, you would still be better off than those households which earn more but cannot save or save very little at the end of each year.

You can compare your household and individual income at salary.sg website. The median household income in Singapore is roughly $95k pa. That means your household income is below 50% of other Singapore households.

Other than retirees (with their fat savings or substantial passive incomes) I think you are one of the rare brave few who do not earn much yet chose to stay in a condo. Our gahmen has made cheaper housing available for everyone, so I wonder why you don't want to advantage of that.

Staying in a condo is really great, owning a nice car is also wonderful, traveling and seeing the world is nice -- only if you can afford them.

Originally Posted by Unregistered

There are so many big shots in this forum. I think I am the poorest among the forumers here. I am already 50 years old. I live in an old condo which is worth only $800k and I am still paying the loan. My total income with my wife is only $70k pa. Anyone here earn less than me?

Retired couple, 57 & 58 yo, passive income $80k pa. Children's contribution $12k pa. Household expenses $40k pa. Current savings $52k pa. Half of this annual savings will be reinvested to buy high dividend blue chips while the other half will be kept as cash.

Condo paid up and now worth $2m. We don't own a car as our condo is near an MRT station and near to amenities such as a mall, hawker centre etc. We don't need a maid as only two of us living in the condo. Anyway, we enjoy doing the household chores together as it makes us closer as a couple.

When we reach 65, we will start to receive payouts from our CPF Life and this will add more to our passive income. We are enjoying our retirement after working so hard and long hours for more than 30 years. We now enjoy going for short holidays, walking in a nearby park every evening, watching movies, help out at the community centre, reading, etc. We look forward to taking care of our grandchildren when our kids are married and have their own kids.

Originally Posted by Unregistered

Retired couple, 57 & 58 yo, passive income $80k pa. Children's contribution $12k pa. Household expenses $40k pa. Current savings $52k pa. Half of this annual savings will be reinvested to buy high dividend blue chips while the other half will be kept as cash.

Condo paid up and now worth $2m. We don't own a car as our condo is near an MRT station and near to amenities such as a mall, hawker centre etc. We don't need a maid as only two of us living in the condo. Anyway, we enjoy doing the household chores together as it makes us closer as a couple.

When we reach 65, we will start to receive payouts from our CPF Life and this will add more to our passive income. We are enjoying our retirement after working so hard and long hours for more than 30 years. We now enjoy going for short holidays, walking in a nearby park every evening, watching movies, help out at the community centre, reading, etc. We look forward to taking care of our grandchildren when our kids are married and have their own kids.

This is the quality of life retiree should enjoy. Carefree, no worry, still got balance every month, forward looking lifestyle.
Only comment is should spend a lit more on travelling while still have able body. Sight seeing need a lot of walking. Probably pamper you and your spouse occasionally with exotic food. Need not leave too much as your children will have at least a $2m condo.

We are in our early 50s and thinking of retiring too. Our passive income today is $90k pa while our household expenses is $70k pa. Our stocks investments is worth $2.2m today. Our terrace house, valued at $3m, is paid up. If we need to, we may sell our terrace and down grade to a $2m condo. The extra $1m can generate us another $40k pa in dividends.

Originally Posted by Unregistered

Retired couple, 57 & 58 yo, passive income $80k pa. Children's contribution $12k pa. Household expenses $40k pa. Current savings $52k pa. Half of this annual savings will be reinvested to buy high dividend blue chips while the other half will be kept as cash.

Condo paid up and now worth $2m. We don't own a car as our condo is near an MRT station and near to amenities such as a mall, hawker centre etc. We don't need a maid as only two of us living in the condo. Anyway, we enjoy doing the household chores together as it makes us closer as a couple.

When we reach 65, we will start to receive payouts from our CPF Life and this will add more to our passive income. We are enjoying our retirement after working so hard and long hours for more than 30 years. We now enjoy going for short holidays, walking in a nearby park every evening, watching movies, help out at the community centre, reading, etc. We look forward to taking care of our grandchildren when our kids are married and have their own kids.