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How much are you earning per annum?

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  #9471 (permalink)  
Old 14-02-2016, 09:30 AM
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You have done well as a couple. You're in the top 10% since you own both a condo and a car.
Your HH income is above average.


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This year we will both be 48. Even though we are not a high earning couple, we still manage to have a happy, comfortable life. We are average earners, with a modest total household income of $175k pa.

Despite our modest income, we are however lucky property buyers. We upgraded from a flat to a 3 bedroom private condominium unit a few years ago. We used the proceeds from the sale of our flat to pay for a big down payment for the condo. We took a small mortgage. The timing was perfect. We got it cheap, very cheap. Today, our condo has appreciated in value and we have managed to clear our condo mortgage. It feels great to own your home outright!

We also own a 2 year old car, not a glamorous one but one which brings us from one place to another. We are left with a very small car loan which we will pay off this year. We don't believe in splurging on depreciating assets.

We enjoy a good family life. We have work life balance and spend a lot of time together as a family. We are blessed with two well brought up beautiful children. We love going to nice year end overseas holidays which we will spend quite a bit to reward ourselves for the year's hard work.

In short, we are blessed with a good life and on track towards a good retirement. On top of our paid up condominium unit (now worth $1.2m), our other assets are CPF and cash savings ($500k). We are now saving $50k pa in cash. We hope to have $1m in cash savings by the time we reach retirement age at 65.

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  #9472 (permalink)  
Old 14-02-2016, 09:31 AM
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I do get the feeling that people here are generally supportive of the underdogs but are riled when they read posts by people they perceived to be more successful than themselves.

I had wanted to share more about the CPF but held back because of the strong negative reactions. Ok, granted that the post I put up earlier did appear to be boastful of the amount I accumulated in my CPF, but if you look at it objectively, it shows what one could achieve from diligent and persistent contribution to the CPF throughout your working life. In the blogosphere, there are articles written on how to grow your CPF money to $1m and more. My case serves to validate that.

From this year onwards, the government have raised the salary level that would attract CPF contribution. That level is now at $6k pm. Previously it was at $5k pm. This means more people should be able to grow their CPF savings faster and bigger.

There are some "tricks" that one could do (whic I used) to increase their CPF savings and they are all legal and encouraged by the government. I will just highlight one here (lest I get abusive response)

From this year (2016) the maximum amount that one can contribute to their CPF is $37,740 per year. Previously it was $31,450 per year. Every year I would check how much contributions I made to my CPF, and I would top it to the max of $31,450. And in the process getting tax relief. So for this year onwards, I would be able to top up even more.

When you have 2 jobs, say a full time job and part time one which also attracts CPF contributions, you can actually contribute beyond the yearly limit. The CPF allows that unless you tell that you don't wish to contribute more than the yearly limit. In which case you will have more take home pay.

That's all for now. :-)




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Omgosh many disgruntled folks in here. Cool man-just read n know lor.


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  #9473 (permalink)  
Old 14-02-2016, 10:40 AM
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The 5 Things People Regret Most On Their Deathbed

Susie Steiner, The Guardian
Dec. 5, 2013

There was no mention of more sex or bungee jumps.

A palliative nurse who has counselled the dying in their last days has revealed the most common regrets we have at the end of our lives. And among the top, from men in particular, is "I wish I hadn't worked so hard."

Bronnie Ware is an Australian nurse who spent several years working in palliative care, caring for patients in the last 12 weeks of their lives. She recorded their dying epiphanies in a blog called Inspiration and Chai, which gathered so much attention that she put her observations into a book called "The Top Five Regrets of the Dying."

Ware writes of the phenomenal clarity of vision that people gain at the end of their lives, and how we might learn from their wisdom. "When questioned about any regrets they had or anything they would do differently," she says, "common themes surfaced again and again."

Here are the top five regrets of the dying, as witnessed by Ware:

1. I wish I'd had the courage to live a life true to myself, not the life others expected of me.

"This was the most common regret of all. When people realise that their life is almost over and look back clearly on it, it is easy to see how many dreams have gone unfulfilled. Most people had not honoured even a half of their dreams and had to die knowing that it was due to choices they had made, or not made. Health brings a freedom very few realise, until they no longer have it."

2. I wish I hadn't worked so hard.

"This came from every male patient that I nursed. They missed their children's youth and their partner's companionship. Women also spoke of this regret, but as most were from an older generation, many of the female patients had not been breadwinners. All of the men I nursed deeply regretted spending so much of their lives on the treadmill of a work existence."

3. I wish I'd had the courage to express my feelings.

"Many people suppressed their feelings in order to keep peace with others. As a result, they settled for a mediocre existence and never became who they were truly capable of becoming. Many developed illnesses relating to the bitterness and resentment they carried as a result."

4. I wish I had stayed in touch with my friends.

"Often they would not truly realise the full benefits of old friends until their dying weeks and it was not always possible to track them down. Many had become so caught up in their own lives that they had let golden friendships slip by over the years. There were many deep regrets about not giving friendships the time and effort that they deserved. Everyone misses their friends when they are dying."

5. I wish that I had let myself be happier.

"This is a surprisingly common one. Many did not realise until the end that happiness is a choice. They had stayed stuck in old patterns and habits. The so-called 'comfort' of familiarity overflowed into their emotions, as well as their physical lives. Fear of change had them pretending to others, and to their selves, that they were content, when deep within, they longed to laugh properly and have silliness in their life again."



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  #9474 (permalink)  
Old 14-02-2016, 12:06 PM
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...and once in a while, you'd get a message like the above-simply "noise" distractor to real subject matter and healthy chain of discussion.😝
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  #9475 (permalink)  
Old 14-02-2016, 12:17 PM
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Quote:
Originally Posted by Unregistered View Post
I do get the feeling that people here are generally supportive of the underdogs but are riled when they read posts by people they perceived to be more successful than themselves.

I had wanted to share more about the CPF but held back because of the strong negative reactions. Ok, granted that the post I put up earlier did appear to be boastful of the amount I accumulated in my CPF, but if you look at it objectively, it shows what one could achieve from diligent and persistent contribution to the CPF throughout your working life. In the blogosphere, there are articles written on how to grow your CPF money to $1m and more. My case serves to validate that.

From this year onwards, the government have raised the salary level that would attract CPF contribution. That level is now at $6k pm. Previously it was at $5k pm. This means more people should be able to grow their CPF savings faster and bigger.

There are some "tricks" that one could do (whic I used) to increase their CPF savings and they are all legal and encouraged by the government. I will just highlight one here (lest I get abusive response)

From this year (2016) the maximum amount that one can contribute to their CPF is $37,740 per year. Previously it was $31,450 per year. Every year I would check how much contributions I made to my CPF, and I would top it to the max of $31,450. And in the process getting tax relief. So for this year onwards, I would be able to top up even more.

When you have 2 jobs, say a full time job and part time one which also attracts CPF contributions, you can actually contribute beyond the yearly limit. The CPF allows that unless you tell that you don't wish to contribute more than the yearly limit. In which case you will have more take home pay.
Well, those who are motivated will be driven, those who are not are just spoil spots who instead of being graciously happy for those who made it well, and gets motivated themselves to do better, will always give negative comments. Ignore them (mostly). They will not have the right attitude to go far at their work and do well for themselves & families.
That's all for now. :-)
Well those who are driven and positive will be happy graciously, for you. Those who are spoilsports-instead of being so, will just continue their negative attitude towards others who do well and in the process do not themselves bulk up in life for better life for themselves and families. So, ignore them. Ignore those who just must damper the positivity in us. Well done! Keep it up n save for your retirement. You're be the last ones laughing.
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  #9476 (permalink)  
Old 14-02-2016, 02:32 PM
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This is very true. Many dying people have lots of regrets especially those who did not spend much time with their family members. They were greedy. They thought money can buy the approval of their children. They only realise at their deathbed that their children hate them because they grew up neglected. They hate their greedy, materialistic parents. Many are fools, thinking their wealth will bring happiness.

You don't need much wealth to have a happy life and family. While you should not be in poverty (this of course will not make you happy), neither should you indulge in the pursuit of the material world at the expense of more meaningful things in life.

There are many fools in this forum.


Quote:
Originally Posted by Unregistered View Post
The 5 Things People Regret Most On Their Deathbed

Susie Steiner, The Guardian
Dec. 5, 2013

There was no mention of more sex or bungee jumps.

A palliative nurse who has counselled the dying in their last days has revealed the most common regrets we have at the end of our lives. And among the top, from men in particular, is "I wish I hadn't worked so hard."

Bronnie Ware is an Australian nurse who spent several years working in palliative care, caring for patients in the last 12 weeks of their lives. She recorded their dying epiphanies in a blog called Inspiration and Chai, which gathered so much attention that she put her observations into a book called "The Top Five Regrets of the Dying."

Ware writes of the phenomenal clarity of vision that people gain at the end of their lives, and how we might learn from their wisdom. "When questioned about any regrets they had or anything they would do differently," she says, "common themes surfaced again and again."

Here are the top five regrets of the dying, as witnessed by Ware:

1. I wish I'd had the courage to live a life true to myself, not the life others expected of me.

"This was the most common regret of all. When people realise that their life is almost over and look back clearly on it, it is easy to see how many dreams have gone unfulfilled. Most people had not honoured even a half of their dreams and had to die knowing that it was due to choices they had made, or not made. Health brings a freedom very few realise, until they no longer have it."

2. I wish I hadn't worked so hard.

"This came from every male patient that I nursed. They missed their children's youth and their partner's companionship. Women also spoke of this regret, but as most were from an older generation, many of the female patients had not been breadwinners. All of the men I nursed deeply regretted spending so much of their lives on the treadmill of a work existence."

3. I wish I'd had the courage to express my feelings.

"Many people suppressed their feelings in order to keep peace with others. As a result, they settled for a mediocre existence and never became who they were truly capable of becoming. Many developed illnesses relating to the bitterness and resentment they carried as a result."

4. I wish I had stayed in touch with my friends.

"Often they would not truly realise the full benefits of old friends until their dying weeks and it was not always possible to track them down. Many had become so caught up in their own lives that they had let golden friendships slip by over the years. There were many deep regrets about not giving friendships the time and effort that they deserved. Everyone misses their friends when they are dying."

5. I wish that I had let myself be happier.

"This is a surprisingly common one. Many did not realise until the end that happiness is a choice. They had stayed stuck in old patterns and habits. The so-called 'comfort' of familiarity overflowed into their emotions, as well as their physical lives. Fear of change had them pretending to others, and to their selves, that they were content, when deep within, they longed to laugh properly and have silliness in their life again."
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  #9477 (permalink)  
Old 14-02-2016, 03:11 PM
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From the tone of your message, you revealed yourself to be an angry, frustrated and unfulfilled person. Why? Don't get angry, get rich!

Many people chase wealth not because they are greedy, but because they want a good and comfortable life for themselves and their families. Why? Because they see it with their own eyes that wealthier people tend to be happier and have happy families. They live in comfort, they travel in comfort and they eat in comfort.

So far as I see, the posters here are not the filthy rich (>$10m), but are ordinary folks trying to make their lives better. Yes there are one or two posters who may have networth above $5m, bravo to them. Between a family with $5m net worth and one with $1m net worth you cannot really tell them apart. Meaning the $5m family is just as ordinary and happy as the other family.

While it is no good to chase wealth at the expense of family ties, health and friends, it is equally irresponsible to not work hard for yourself and your family just because of laziness. The last thing one should do is to propagate the poverty cycle. By not working hard to build up your retirement funds, you inevitably push the burden of sustaining your retirement to your children. Because they have to support you in retirement, they might not be able to save for own retirement and further passing on the burden to the next generation.

Isn't it clear that while you are still able, you should work hard and build up your wealth, take care of your own retirement, and at the same time, leave something for your children? They will love you deep, deep.




Quote:
Originally Posted by Unregistered View Post
This is very true. Many dying people have lots of regrets especially those who did not spend much time with their family members. They were greedy. They thought money can buy the approval of their children. They only realise at their deathbed that their children hate them because they grew up neglected. They hate their greedy, materialistic parents. Many are fools, thinking their wealth will bring happiness.

You don't need much wealth to have a happy life and family. While you should not be in poverty (this of course will not make you happy), neither should you indulge in the pursuit of the material world at the expense of more meaningful things in life.

There are many fools in this forum.
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  #9478 (permalink)  
Old 14-02-2016, 04:43 PM
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You are missing the point.


Quote:
Originally Posted by Unregistered View Post
From the tone of your message, you revealed yourself to be an angry, frustrated and unfulfilled person. Why? Don't get angry, get rich!

Many people chase wealth not because they are greedy, but because they want a good and comfortable life for themselves and their families. Why? Because they see it with their own eyes that wealthier people tend to be happier and have happy families. They live in comfort, they travel in comfort and they eat in comfort.

So far as I see, the posters here are not the filthy rich (>$10m), but are ordinary folks trying to make their lives better. Yes there are one or two posters who may have networth above $5m, bravo to them. Between a family with $5m net worth and one with $1m net worth you cannot really tell them apart. Meaning the $5m family is just as ordinary and happy as the other family.

While it is no good to chase wealth at the expense of family ties, health and friends, it is equally irresponsible to not work hard for yourself and your family just because of laziness. The last thing one should do is to propagate the poverty cycle. By not working hard to build up your retirement funds, you inevitably push the burden of sustaining your retirement to your children. Because they have to support you in retirement, they might not be able to save for own retirement and further passing on the burden to the next generation.

Isn't it clear that while you are still able, you should work hard and build up your wealth, take care of your own retirement, and at the same time, leave something for your children? They will love you deep, deep.
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  #9479 (permalink)  
Old 14-02-2016, 06:23 PM
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With the drastic unprecedented crash of Cat B COE price, now is the opportune time for you to buy a new Cat B car or cars.

If you have an old Cat B car, now is the time to change to a new car. The Cat B COE has crashed to $38k. This level is the lowest in recent times. It used to cost over $90k for the Cat B COE.

Your last chance to get a new Cat B car is now. This is the lowest level and price will only go higher from now on. Don't wait any longer.

Just visit the car showrooms and you will see so many families buying cheap Cat B cars.

My prediction is that Cat B COE will rebound next week.
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  #9480 (permalink)  
Old 14-02-2016, 06:32 PM
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With the drastic unprecedented crash of Cat B COE price, now is the opportune time for you to buy a new Cat B car or cars.

If you have an old Cat B car, now is the time to change to a new car. The Cat B COE has crashed to $38k. This level is the lowest in recent times. It used to cost over $90k for the Cat B COE.

Your last chance to get a new Cat B car is now. This is the lowest level and price will only go higher from now on. Don't wait any longer.

Just visit the car showrooms and you will see so many families buying cheap Cat B cars.

My prediction is that Cat B COE will rebound next week.
With the abundance of COE quota upcoming

I will try to time the market and buy at lowest COE. I think it will crash below $10k

Then I will buy 2 or 3 cars with cheap COE

And sell and make profit when the COE supply shrinks by 2019.

Huat ah..
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