How much are you earning annually

[rj1915]

How much? Are you earning annually?

Banking, 40 yo

Basic $240K

Bonus $100K

Why would you start another new thread on this topic?

I see. But don't you have CPF, Saving, Insurance, etc?

Do you need a lot to enjoy? Like buying a one time big purchase private plane, luxury sport car, spending more sweet young thing?

How much is your expenses per year?

To most, your thread is a show-off asking how are you doing with high income and multi-properties at this age of 60yo which you would not require much.

Someone just commented that you should think about liquidate and consider helping those needy which is more meaningful and enjoyable.

Think about it!!

Dual income household with two children. Annual combined income is about $200k. We are staying in a 3 bedroom luxury condominium unit. Our condo has a large swimming pool, a gymnasium, a tennis court and beautiful landscaping. We are very fortunate to be able to afford such a luxurious home.

We are left with only $178k on our mortgage loan. We pay $1k pm or $12k pa for our mortgage. This is a MSR of only 6%. Actually we can pay off our remaining mortgage in full using our CPF balance if we want to but since our CPF interest rate is giving 2.5% and our mortgage rate is less than 2.5%, it doesn't make sense for us to pay off in full. If mortgage rates rise above 2.5%, we will just pay off our remaining mortgage in full.

We lead a middle class lifestyle. We do own a nice car which allows us to move around in comfort. We enjoy good food at restaurants at least once a week. Family bonding is important to us, hence we invest in year end holidays where we get to be closer as a family. Our holidays are full of sweet, happy memories.

To prepare for our retirement, we save about $35k pa in cash. We also build up our CPF savings for our future. We aim to retire in ten years time when we reach 57. We should have enough cash savings and CPF Life for us to spend during our retirement. We will need about $36k pa during our retirement. We will have enough cash savings to take care of inflation.

Our retirement expenses will include food and groceries, public transport fees, utilities, medical fees, insurance, broadband, mobile phone, entertainment, holidays, condo fees, etc.

Please post in existing thread. No need to create this thread. Thanks.

We are both mid 40s with 2 teenage kids
Annual income $350k with Dividend&Interest income $50k pa
Stay in a OCR condo worth $1.5mil paid up
Owns a luxury car 1 yo worth $200k paid up
Cash and CPF balance about $2mil
How are we doing? Can we both afford to retire?

Grad last year with ntu mba, in associate program of 2nd tier bank, base is 105k, bonus expected 80k.
Gf still in nie training to be music teacher, receving mininal allowance.
Current combined still qualify to buy bto as bonus are not factored in, but coming next year, gf is graduating to be fully qualified teacher with base 32k.

Should i buy BTO flat now with gf or buy private in 3 yrs while living with parents? Expected to reach vp in 3 year - base around 220k according to seniors
Age is 30. Gf 26. Looking to start family soon.

[rj1915]

Originally Posted by Unregistered

Banking, 40 yo

Basic $240K

Bonus $100K

Do you get bonus every year? Is your bonus always that of 100k or more?

We are mid-upper / middle management in the financial industry, nowhere near the CFO/CEO level. I'm quite sure there are a fairly large number of people (and I know quite a lot of them) that have the same wealth profile as me in the financial / legal / medical sectors.

Someone showed the no. of people for different assessable incomes, you can see there are almost 20K people with my profile or better, plus my wife's income is somewhat lower so there are even more people with her profile. All in all, easily 100K people similar to us. Of course 100K out of a population of around 5.3m (or maybe 2.6m population) is probably around the top 5% but in absolute terms, it's A LOT.