Quote:
Originally Posted by Unregistered
Why can't people earning 300k per annum read this forum?
There are people who are earning 300k in their mid 30s, won't say that there is alot but there is definitely a handful (I am not one of them but I do earn enough for a relatively good lifestyle). This group of people grew up during the internet bubble back in the early 2000s and are likely avid forum readers (I've friends who are partners of law firm, high flyers in civil service, scholarship holders doing very well in the military, top performers in MNC and even doctor friends who read this forum fyi).
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Earning a good salary is only half the story, sorry, make that 1/3 of the story. The other 2/3 are:
1. Job longevity
2. Networth
Job longevity - high salary jobs typically come with higher levels of stress. It is very common to see people working in high stress jobs burning out early and switching to much reduced pay, but less stressful jobs within a short time. There are of course cases where people were asked to leave because of non-performance, ie not being able to meet the bosses expectations for the remuneration they received.
Networth - Networth comes from how much you can save, not only how much you earn. Many young people who earns the big salaries ended up succumbing to lifestyle inflation early in their lives / careers. This resulted in their not being able to save and grow their networth much.
I am not a high flyer by any measure. As my salary was low at the early stages of my working life, I cultivated a very frugal and prudent lifestyle which stayed with me till this day. It was only in my (very) late forties onwards that I was able to smell $250,000 annual income. I have been earning $300,000 annually the last few years but my lifestyle didnt change much as they said - "old habits die hard".
Now, my frugal lifestyle and together with my wife's contributions, our networth has grown beyond $7M. Our passive income for last year was $180,000, which was more than enough to cover our annual expenses. You can imagine what this can do to our rate of savings - it just accelerates.
Moral of story - do not lose hope if your salary is not $300,000 a year. Steady, persistent, discipline earnings and savings can and will give you a comfortable lifestyle and secure future.