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Old 19-05-2014, 11:30 AM
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Lightbulb Why doubt?

I read the post about single personal income of $120K-$200K p.a. for age group in the 40's.

This is highly attainable for a graduate and that's definitely not BS.

I'm in early 40's, earning income of $120K (engineering) and has seen many younger generation that earn in the range of $120K-$160K.

It is not surprising at all which explain why many of this young generation live in condo and drive luxury cars (Myself drive a Jap car and stayed in a HDB).

For me, it is about long term income sustainability which is very unstable when you reach the age of 40's.

Therefore I am working toward to passive income and read with wide interest of poster who achieve high passive income.

Breakdown of my financial status:

Myself (early 40's)
Income: Avg $120K pa
Cash: $30K
Investment(comprises of SD, ELN, Annuity): $680K, Passive return est $42K
SRS: $25.5K
CPF OA: $44K
CPF SA: $137K (regulary top up to minimise tax)
CPF Medisave: $44K (don't include this as networth as considering it for Medical expenses and paying of Shield premium).
Life Insurance Value (Current): $11K
Shares (Current): $21K
Jap Car (fully paid up left 2yrs): $11K scrap value
HDB 5rm: market price $600K up
Outstanding Mortgage Loan: $117K


Wife(early 40's)
Income: Stop working 2yrs ago
Cash: $432K
CPF OA: $2K
CPF SA: $9K
CPF Medisave: $11K
Life Insurance Value (Current): $192K
Shares (Current): $4K

* Just in case someone who wonder why wife holding so much cash but low CPF, she is not a typical local employee, something like self-employed trust the reason why she consider to safeguard her retirement thru insurance as she has no CPF contribution.

Our networth include HDB (but exclude Medisave) is slightly above $2M.
Networth exclude Life Insurance, CPF & SRS (can see but can't touch) and HDB (prmary residence so can't sell) is $987K

* Have never invested in property (missed the boat and has given up then)

Considering myself as struggling as children are still very young.

I am reading the forum daily with open mind to learn from each others. Would not consider retirng in other countries and aiming fast to achieve FF from passive income because of unhappiness working in the company.

Salary would not always work for you as primary income when there is new policy, boss and business economy reason.

Hope to pick up how and what others invested in.
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