How much do you earn and save?

50 yo couple

filed income tax for 2020 = $650,000

paid up one condo, and awaiting BUC second condo.

hope to work for 5 more years to retire

46M

Income -- 28k/mth
20k day job, 5k side business, and 3k coupons/dividends/interest

Expenses -- 17k/mth
taxes 5k
cards 3k
mortgage 3k
parents 3k
car 1k
bills 0.5k
incidentals 1.5k

Savings -- 10k/mth

If I lose my job, I can cut my expenses down to 6k/mth.

27M, no gf
Have been working for about 2.5 years
$4200, take home approx $3350

Give parents $600
Gym $98
Occasional meals outside and transport $200
Taxes, insurance $100

Save about $2k per month

Feel like I’m earning really little at my age

Originally Posted by Unregistered

27M, no gf
Have been working for about 2.5 years
$4200, take home approx $3350

Give parents $600
Gym $98
Occasional meals outside and transport $200
Taxes, insurance $100

Save about $2k per month

Feel like I’m earning really little at my age

For a guy I think you're doing alright! Probably get ready to jump soon as you're near the 3 year mark.

Originally Posted by Unregistered

For a guy I think you're doing alright! Probably get ready to jump soon as you're near the 3 year mark.

Seems like you are on track to 200K savings by age 30. Well done.

Originally Posted by Unregistered

Seems like you are on track to 200K savings by age 30. Well done.

Your calculation is off.

I’m the original poster for post #113.
Still feel like I’m not earning enough and there’s no pay increment for everyone in my company this year due to the economic downturn. Else I would have been earning 4.8k now.
Can’t really find much jobs outside either due to the bad outlook. Anyone any tips on growing wealth?

Originally Posted by Unregistered

I’m the original poster for post #113.
Still feel like I’m not earning enough and there’s no pay increment for everyone in my company this year due to the economic downturn. Else I would have been earning 4.8k now.
Can’t really find much jobs outside either due to the bad outlook. Anyone any tips on growing wealth?

At your level of income, best way is to go BTO. Everything else is too risky.

Ure doing great. I’m 27M local uni grad in finance earning 5k/mth.

Parents-1k
Dating-400
Insurance-200
Public transport -60
Petrol-100
Food /drinks-800

Guess that leaves me ~1.5k in savings per month. And this year finance cutting bonus which is my main source of savings accumulation haha

Originally Posted by Unregistered

Ure doing great. I’m 27M local uni grad in finance earning 5k/mth.

Parents-1k
Dating-400
Insurance-200
Public transport -60
Petrol-100
Food /drinks-800

Guess that leaves me ~1.5k in savings per month. And this year finance cutting bonus which is my main source of savings accumulation haha

Out of curiousity, why are you giving your parents 1k / month? Does it cover utility bills / groceries etc? Seems like a lot since you are only earning 5k