Being ruthless to be rich - Page 4 - 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




Being ruthless to be rich

Reply
 
Thread Tools
  #31 (permalink)  
Old 04-01-2018, 11:03 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
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..
all these are hypothetical... assuming you are a Singapore Citizen, you would have already be contributing 20% of your salary to CPF. unless you are talking about 60% of NETT wages? Still. provided you are not the only child in the family and your family doesn't need you to take care of them. utilities, telephone bills, groceries, insurance, etc.

provided you are not intending to settle down, not intending to go for some holidays from time to time, some occasional luxury splurges...

continue building the dream portfolio of S$2m.

Reply With Quote
  #32 (permalink)  
Old 05-01-2018, 03:11 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
all these are hypothetical... assuming you are a Singapore Citizen, you would have already be contributing 20% of your salary to CPF. unless you are talking about 60% of NETT wages? Still. provided you are not the only child in the family and your family doesn't need you to take care of them. utilities, telephone bills, groceries, insurance, etc.

provided you are not intending to settle down, not intending to go for some holidays from time to time, some occasional luxury splurges...

continue building the dream portfolio of S$2m.
Yup I don't get these people. Why suffer for 25 years just to build a portfolio of $2 million? What do you get in the end?

Reply With Quote
  #33 (permalink)  
Old 05-01-2018, 06:59 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Yup I don't get these people. Why suffer for 25 years just to build a portfolio of $2 million? What do you get in the end?
What is the alternative then?

My wife and I "suffered" over 32 years slogging at work and built up a networth close to $7M.

As we are very conservative in investment, we didnt touch our CPF monies and just let it grow. And we were pleasantly surprised when we saw that our combined total interest from our CPF for 2017 was a cool $70k. $40k was from my CPF and $30k from my wife's.

Our investment in only blue chip shares also netted us a dividend income of $53k last year (lower than the year before). We dont do trading, we just held the shares we bought and accumulate whenever we have spare cash.

The rental market has softened, but we were still able to secure a new tenant in 2017 netting us $37k in gross takings.

All in, a total of $160k in passive income for 2017. And this was only possible because we were prepared to "suffer" for years working our lives away. We are very old school, so we didnt know any other way than to "suffer" working to secure a better life for ourselves and our children's future.

We tried buying toto but that didnt work out for us.

Reply With Quote
  #34 (permalink)  
Old 05-01-2018, 08:27 AM
Junior Member
 
Join Date: Apr 2017
Posts: 5
vong is on a distinguished road
Default

Different strokes for different folks.

A stranger on the internet is happy for you.

Get rich quick stories make good click bait, but getting rich slowly is tough and admirable. It may not make for a fancy story, but that does not make it any less respectable.
Reply With Quote
  #35 (permalink)  
Old 10-02-2018, 08:52 AM
Unregistered
Guest
 
Posts: n/a
Default

There's no relationship being ruthless or not ruthless and earning a good income.

I'm 36 and have a PA of $550k last year. But that's because I run my own business.

I can be strict and firm with my staff but otherwise I reward and value them well too.

Whatever you believe to be true will become true.
Reply With Quote
  #36 (permalink)  
Old 10-02-2018, 10:54 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
There's no relationship being ruthless or not ruthless and earning a good income.

I'm 36 and have a PA of $550k last year. But that's because I run my own business.

I can be strict and firm with my staff but otherwise I reward and value them well too.

Whatever you believe to be true will become true.
alot of my bosses only interested in profits, and dun bother about quality of the product. When got profit, they meet their KPI and get bonus, and the employee bonus remain the same. But when there is customer complains on the quality issues, they penalize the employee......In this case. they are consider ruthless
Reply With Quote

Reply

Bookmarks

Tags
getting rich

« 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
On Get Rich Seminars Salary.sg Investments and Net Worth 36 22-11-2013 11:18 PM
How to be rich? Salary.sg Investments and Net Worth 160 23-10-2012 06:00 PM
How to be rich (part 2) Salary.sg Investments and Net Worth 5 08-09-2011 04:51 PM
The rich get richer Salary.sg Investments and Net Worth 6 09-02-2008 08:24 PM
Get lucky to be rich Salary.sg Investments and Net Worth 1 16-12-2007 11:56 AM

» 30 Recent Threads
Lawyer Salary ( 1 2 3... Last Page)
2,194 Replies, 748,496 Views
Rolls-Royce Graduate Development... ( 1 2 3... Last Page)
31 Replies, 5,708 Views
Civil Svc/ Statboard - Typical... ( 1 2 3... Last Page)
882 Replies, 349,934 Views
is smbc a pro family company to... ( 1 2)
18 Replies, 9,922 Views
Heineken APAC Graduate Programme ( 1 2 3... Last Page)
250 Replies, 65,717 Views
Career as Teacher ( 1 2 3... Last Page)
968 Replies, 648,951 Views
Queries about Cpib application ( 1 2 3... Last Page)
810 Replies, 273,765 Views
Anyone jobless for a long time... ( 1 2 3... Last Page)
1,705 Replies, 518,882 Views
DBS Graduate Associate Program ( 1 2 3... Last Page)
430 Replies, 160,749 Views
Compare civil service salary ( 1 2 3... Last Page)
6,895 Replies, 3,493,282 Views
Really that bad for engineers? ( 1 2 3... Last Page)
1,201 Replies, 709,470 Views
AML/Compliance/KYC professionals... ( 1 2 3... Last Page)
1,103 Replies, 277,561 Views
Process Technician/Operation... ( 1 2 3... Last Page)
166 Replies, 124,744 Views
Q: Big4 - Yearly salary increment ( 1 2 3... Last Page)
691 Replies, 388,718 Views
Queries about AIA graduate program
2 Replies, 172 Views
Contract job
9 Replies, 6,934 Views
Roles in accenture singapore ( 1 2 3... Last Page)
167 Replies, 80,601 Views
NCS System Specialist
0 Replies, 114 Views
OCBC Young Bankers Programme ( 1 2 3... Last Page)
75 Replies, 31,932 Views
Plant tour NEA TSIP
0 Replies, 101 Views
Compliance vs External Audit
9 Replies, 712 Views
Nervous during interview
6 Replies, 771 Views
Prospects of a Building and...
0 Replies, 106 Views
What to expect a career in... ( 1 2)
11 Replies, 5,186 Views
Working in HDB ( 1 2 3... Last Page)
229 Replies, 142,543 Views
Compare Your Household Income 2018
0 Replies, 327 Views
15% pay cut from private sector to... ( 1 2 3... Last Page)
1,425 Replies, 674,610 Views
possible for female in late-30s...
3 Replies, 596 Views
Ex-MOE Teachers ( 1 2 3... Last Page)
39 Replies, 68,900 Views
how much shall I expect for a vp... ( 1 2 3... Last Page)
40 Replies, 14,225 Views
Powered by vBadvanced CMPS v3.2.2



All times are GMT +8. The time now is 08:47 PM.


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