How much can you save if I make 108K per year

[kelvinfrog]

Yes, 108K is base salary plus bonuses

2500 rent - this is quite high an estimate, as single, I suggest you aim lower.
Go for a single room bedder 1st, when you get here, shop around for aprtments. I suggest google SPIO to rent apartments from SLA, you may be able to get apartments in a good part of town for less than 2k.

Also, you mention 108k is your gross and equivilant to USA? I tot usa pay is much higher.. may I ask what are you doing?
Position?

[kelvinfrog]

Thanks for your suggestion. I am a scientist. In US, your salary can vary a lot depending on where you live. I live in a small town and it only costs around 200K SDG to buy a 3-4 bedroom house and it costs 900-1100 SDG to rent a 1000ft two bedroom condo. But if I live in San Francisco or Washington DC, my salary would be considered as median or low median.

Originally Posted by kelvinfrog

Thanks, I am sure I will enjoy Singapore. I am in my late 30... I do plan to find a place near by my office and have a bus line go directly there. My office is not so near MRT; otherwise, I can live further and just travel by MRT. I might get a HUB instead since a two bedroom condo will cost about 3k and I am not sure I would want to pay that much. I know it is a pretty good salary and I think my saving will be similar to what I have been saving in the U.S since housing is much cheaper here despite the income tax is higher.

I think you mean a "HDB" flat. It's a buyer's market now so you may unearth a good deal for a condo rental. A number of white expats I know started off renting a HDB flat but most end up moving to condos in the end. It doesn't cost that much more and you are better off with 24/7 security, facilities, shuttle bus to the nearest MRT station etc... if you aren't comfortable then suggest you start with a short term HDB rental and take your time to look around.

[kelvinfrog]

Thanks for your correction. When I arrive, I will check both condo and HDB. Yes, I think real estate in Singapore is in correction, so good time to rent!

How much I can save depends on my salary & expenditure. What has it got to do with your salary?

[kelvinfrog]

yes, I understand that wisdom but how are you going to save if you do not have any salary or income?

Originally Posted by kelvinfrog

yes, I understand that wisdom but how are you going to save if you do not have any salary or income?

this poster is referring to the title of your thread, "How much can you save if I make 108K per year"

Originally Posted by kelvinfrog

yes, I understand that wisdom but how are you going to save if you do not have any salary or income?

Income wise is high but the expenses are not quite proportional. Uncle suggests you to cut down on overseas expenditure while renting 2 rooms from Dual-key condos. This should lower your spending and achieve higher savings.

Young Scientist, your remuneration package may increase over the years so don't worry too much on the living conditions.

$2500 for rental is rather much on the high end, considering that you can rent an entire 3 bedroom HDB in the district 10 areas for about $2700. If you don't have visitors often, you should consider renting a room somewhere in the bukit gombak/Chua chu kang area. It's near to jurong, but far enough away from the jurong "CBD" area such that rental prices for a room won't be beyond $800. Even $800 might be a high estimate for that.