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Being ruthless to be rich

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  #21 (permalink)  
Old 01-06-2017, 08:45 AM
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Hi TS,

Are you in finance/bank industry?

I am 35 and only getting 4.6k as an engineer only. I think I am a loser based on your standard.

Need your assistance on how to hit 9.8k per month. Please advise.

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  #22 (permalink)  
Old 01-06-2017, 09:34 AM
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Wait your husband can make 4-10 times more at a major law firm? Wow.
He was working in a magic circle law firm and would be made partner by now, if he had stayed. But, his life will be terrible. It is not always about the money, and not every lawyer enjoy the long hours, no weekends, and shitty attitude from clients.

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  #23 (permalink)  
Old 01-06-2017, 03:28 PM
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Sorry about your predicament.
Engineers have to work until their 60s before retirement.
Bankers and lawyers can retire in their 40s if they wish to.


Quote:
Originally Posted by Unregistered View Post
Hi TS,

Are you in finance/bank industry?

I am 35 and only getting 4.6k as an engineer only. I think I am a loser based on your standard.

Need your assistance on how to hit 9.8k per month. Please advise.

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  #24 (permalink)  
Old 03-06-2017, 11:33 AM
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Originally Posted by Unregistered View Post
Since you are now so rich, are you planning to buy a GCB?
A quick background of myself. 40 yrs old. Done my EMBA with the world's top 5 MBA School. Married with 2 kids. Earn about 24K per month. Mechanical Engineer from NTU.
My EMBA is not the main contributor to my monthly income. I started investing in real estate since I was 24 years old. My advise I would like to offer you is that your job and your monthly income from your employer is not permanent (unless you own the business or you are a civil servant). You will need to create a passive income that will sustain you and over the years, it will grow. Remember, investments grown at a compound rate. So, the initial start is slow but it picks up after some time.
So, my suggestion for you is to put aside about 60% of your monthly salary and invest it. You will see returns in 4 years and by the time you are in your 40s , I am confident to say that it will be about the same as you are earning in your regular job. But the time you reach 50, you don't need to work but still live the same lifestyle. Now, that is a successful person (in my opinion).
Good Luck !!
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  #25 (permalink)  
Old 03-06-2017, 01:46 PM
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Do you live in a GCB?

Quote:
Originally Posted by Unregistered (PERERA) View Post
A quick background of myself. 40 yrs old. Done my EMBA with the world's top 5 MBA School. Married with 2 kids. Earn about 24K per month. Mechanical Engineer from NTU.
My EMBA is not the main contributor to my monthly income. I started investing in real estate since I was 24 years old. My advise I would like to offer you is that your job and your monthly income from your employer is not permanent (unless you own the business or you are a civil servant). You will need to create a passive income that will sustain you and over the years, it will grow. Remember, investments grown at a compound rate. So, the initial start is slow but it picks up after some time.
So, my suggestion for you is to put aside about 60% of your monthly salary and invest it. You will see returns in 4 years and by the time you are in your 40s , I am confident to say that it will be about the same as you are earning in your regular job. But the time you reach 50, you don't need to work but still live the same lifestyle. Now, that is a successful person (in my opinion).
Good Luck !!
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  #26 (permalink)  
Old 03-06-2017, 10:44 PM
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Quote:
Originally Posted by Unregistered (PERERA) View Post
A quick background of myself. 40 yrs old. Done my EMBA with the world's top 5 MBA School. Married with 2 kids. Earn about 24K per month. Mechanical Engineer from NTU.
My EMBA is not the main contributor to my monthly income. I started investing in real estate since I was 24 years old. My advise I would like to offer you is that your job and your monthly income from your employer is not permanent (unless you own the business or you are a civil servant). You will need to create a passive income that will sustain you and over the years, it will grow. Remember, investments grown at a compound rate. So, the initial start is slow but it picks up after some time.
So, my suggestion for you is to put aside about 60% of your monthly salary and invest it. You will see returns in 4 years and by the time you are in your 40s , I am confident to say that it will be about the same as you are earning in your regular job. But the time you reach 50, you don't need to work but still live the same lifestyle. Now, that is a successful person (in my opinion).
Good Luck !!
For those who are curious, I've just did a quick calculation based on this advice.

Assumptions for a moderately-successful Singaporean:
1) Start work @ 25 years old, at 3k/mth with 2 months bonus every year
2) Salary growth @ 3% per year; for years with promotion, growth @ 10%
3) Promotion once every 4 years
4) Save 60% of total salary and invest all of them, at 6% annual gain

Results based on the above calculations:
1) Salary at: 25 (3k/mth), 30 (3.7k/mth), 35 (4.6k/mth), 40 (6.1k/mth), 45 (7.5k/mth), 50 (8.7k/mth)
2) Number of years for gains from investments to exceed salary from job: 24 years, at 48 years old. By this point of time, your annual package is $115k, while total invested amount if $2.1m

And that's saving 60% of total salary.. not many can do that, given housing mortgage, etc..
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  #27 (permalink)  
Old 09-06-2017, 03:48 PM
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this forum all the daydreamers gong gong talk talk so loud. black cat white cat who ish who. stop daydreaming la, rich or poor your pang sai and fart all same smell. try go India or Africa show off your money i see you get beaten up down right right not
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  #28 (permalink)  
Old 26-11-2017, 10:07 PM
iShai
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Unhappy I am in desperate need of help.

Hello people , I am no rich person but I am in need of financial help. Last week , I met with an accident in a rental car. It was my fault and I damaged a taxi. We had a private settlement of 2.4K for the taxi and 2.6K for the rental car. I have supporting documents for proof.
Total is 5K . The problem is , I just completed my National service and I do not have any income to take a loan.
I have payed 1K for assurance so I am left with 4K.
Any kind soul here , could provide me with 4K upfront , we could agree in a black & white paper that I will pay back the money in a period of 20 Months or LESS with $300 per month Or MORE. (I prioritise my debt if I am accepted in a full-time job.)
Upon signing black & white agreement , you may sue me in court of law IF I do not pay up..

I am desperate dear people. I am in need of help.
If I do not pay up after a certain deadline , my whole future will be gone to waste.

Please help.
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  #29 (permalink)  
Old 27-11-2017, 01:19 AM
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Quote:
Originally Posted by iShai View Post
Hello people , I am no rich person but I am in need of financial help. Last week , I met with an accident in a rental car. It was my fault and I damaged a taxi. We had a private settlement of 2.4K for the taxi and 2.6K for the rental car. I have supporting documents for proof.
Total is 5K . The problem is , I just completed my National service and I do not have any income to take a loan.
I have payed 1K for assurance so I am left with 4K.
Any kind soul here , could provide me with 4K upfront , we could agree in a black & white paper that I will pay back the money in a period of 20 Months or LESS with $300 per month Or MORE. (I prioritise my debt if I am accepted in a full-time job.)
Upon signing black & white agreement , you may sue me in court of law IF I do not pay up..

I am desperate dear people. I am in need of help.
If I do not pay up after a certain deadline , my whole future will be gone to waste.

Please help.
You should have no prb finding a kind donor from this thread if their previous convo is true.
What gcb, magic circle, half a million pay package, 9k per mth.
But people here all big cannon. So not to mention $4k, you prob cant even get $400.
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  #30 (permalink)  
Old 04-01-2018, 10:51 AM
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Quote:
Originally Posted by Unregistered View Post
Since you are now so rich, are you planning to buy a GCB?
do you even know how much a GCB costs?
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