How much are you earning per annum? - Page 1006 - 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




How much are you earning per annum?

Reply
 
Thread Tools
  #10051 (permalink)  
Old 31-05-2016, 02:13 PM
Unregistered
Guest
 
Posts: n/a
Default

anyone who says there will be no big market crash in SG in the near future is just plain delusional.

based on past evidence, years ending with the digits 6 / 7 / 8 are most susceptible to market crashes...

1986 - hotel new world crashed
1987 - black monday
1997 - asian financial crisis
2008 - lehman brothers crashed
2016 / 7 / 8 - ???

COE wont drop to past lows? lol pls think again...

Reply With Quote
  #10052 (permalink)  
Old 31-05-2016, 02:24 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
$10k a month in expenses is not excessive. This is about our household expense too.

What is networth now?

To achieve $15k per month (or $180K pa) in passive income, and with say 10% return on investment, you will need an investment capital of $1.8m.
At 5% ROI, you will need a capital of $3.2m.
At 3% ROI, you will need a capital of $6m.

All the above is not including your home!

What I advise people is - continue to use your human asset to earn money. That is, continue working. Together, (with work income and passive income) you will achieve your financial target much much faster.
Alternatively, if you own 5 fully paid up condos worth S$1m each, you can rent them out for $3500 a month, netting you $210k p.a. That's 4.2% ROI for a capital of S$5m.

Reply With Quote
  #10053 (permalink)  
Old 31-05-2016, 02:25 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
anyone who says there will be no big market crash in SG in the near future is just plain delusional.

based on past evidence, years ending with the digits 6 / 7 / 8 are most susceptible to market crashes...

1986 - hotel new world crashed
1987 - black monday
1997 - asian financial crisis
2008 - lehman brothers crashed
2016 / 7 / 8 - ???

COE wont drop to past lows? lol pls think again...
This is the dumbest post I've seen in recent times.

Reply With Quote
  #10054 (permalink)  
Old 31-05-2016, 03:04 PM
Unregistered
Guest
 
Posts: n/a
Default

This is an objective assessment

1. You own & live in a condo. This makes you among the top 20% of the population as 80% lives in public housing.
2. You own a car.
3. Your HH income is above the median HH income.
4. Your HH net worth is above the median HH net worth.

In conclusion, you are in the upper high class of society. Well done! Congratulations!

You can retire very comfortably.


Quote:
Originally Posted by Unregistered View Post
Middle class family, 48 & 49 year old.

Our expenses

Condo mortgage $2150 pm or $25,800 pa
Car loan $800 pm or $9,600 pa
Car petrol, road tax, car insurance, parking, etc $700 pm or $8,400 pa
Groceries, restaurants & utilities $2000 pm or $24,000 pa
Medical Insurance $1700 pm or $20,400 pa
Holiday travels $800 pm or $9,600 pa
Children $500 pm or $6,000 pa
Parents allowance & gifts $1600 pm or $19,200 pa
Others $500 pm or $6,000 pa
Total expenses $10,750 pm or $129,000 pa

Total income, including bonuses $164,000 pa
Total savings $35,000 pa

Net worth

Condo equity $800k
Cash & CPF $650k
Stocks $50k
Total net worth $1.5mil

How are we doing? How do we fare compared to our contemporaries?
Reply With Quote
  #10055 (permalink)  
Old 31-05-2016, 03:26 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
This is an objective assessment

1. You own & live in a condo. This makes you among the top 20% of the population as 80% lives in public housing.
2. You own a car.
3. Your HH income is above the median HH income.
4. Your HH net worth is above the median HH net worth.

In conclusion, you are in the upper high class of society. Well done! Congratulations!

You can retire very comfortably.
Your maths is very poor. I think you are the same person. Writing to ask how am I doing snd then relying to congratulate yourself just to boost your ego. This chap has very low cash position with the bulk of it stuck in CPF and the housing unit. One need to have minimally $0.7m cash (minus house) and setting aside $300k for RA and MA in CPF or thereabouts, at ard 55 yrs to insure a comfortable life after retirement (lets say he retire at 55yrs old). Please work back your plan using these numbers to see how you fare.


SG Bus Timing App
SG Bus Timing App - the best bus app - available on iOS and Android


SGX Stocks Android App - check share prices
SGX Stocks [Android] App - check latest share prices on the go


SGX Stocks for iPad - check latest Singapore share prices
SGX Stocks [iPad] app
| SGX Stocks [iPhone] app
Reply With Quote
  #10056 (permalink)  
Old 31-05-2016, 04:02 PM
Unregistered
Guest
 
Posts: n/a
Default

Latest report said 5000 Singapore families living in Johor. This is encouraging for those who wants to retire early at 55 (not so early actually). Besides JB, we can also retire in Penang.

We can all retire in luxury at 55 if we have no dependents at 55 and our HDB flat is paid up. Here's how.

Retire in Penang. Penang is a good place to retire. Many expats all over the world are flocking to Penang to retire. Penang has a lot of interesting places to visit and explore. Penang is a multi cultural place and we can fit in well. People are very friendly.

Penang has a low cost of living for a retired couple.

- Rental for a 3 bedroom condo, facing the ocean RM1500 pm
- Food and utilities RM1000 pm
- Transport RM300 pm (assume purchasing a RM50k car in cash)
- Medical RM200 pm
- Entertainment RM500 pm
- Misc RM500 pm
- Total spending RM4000 pm

How do you finance your retirement expenses in Penang?

- Rent out your paid up HDB flat S$2500 pm
- Convert to RM, get RM7450 pm
- Savings RM3450 pm (can spend a portion of this on holidays)

So, if you have an open mind, you can enjoy a luxurious retirement in Penang. You can live in a condo with an ocean view and own a car. Enjoy your retirement life!

No need to work so hard until you reach 70 years old to accumulate millions and only to die at 71. You don't want to be the richest man in the cemetery.
Reply With Quote

  #10057 (permalink)  
Old 31-05-2016, 05:07 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
This is the dumbest post I've seen in recent times.
u arent very smart either calling people dumb without giving any reasons...
Reply With Quote
  #10058 (permalink)  
Old 31-05-2016, 05:20 PM
Unregistered
Guest
 
Posts: n/a
Default

Yes, he is the same person- writing and replying to his own post.

While this is a harmless thing, it does show his deep sense of insecurity.

He doesnt realise that he is spreading his finances too thin by staying in a condo and owning a car. I would have advise him what to do except that he is not open to advise, but insist on congratulating his own posting.

Some people are just difficult to help....

Haiz

Quote:
Originally Posted by Unregistered View Post
Your maths is very poor. I think you are the same person. Writing to ask how am I doing snd then relying to congratulate yourself just to boost your ego. This chap has very low cash position with the bulk of it stuck in CPF and the housing unit. One need to have minimally $0.7m cash (minus house) and setting aside $300k for RA and MA in CPF or thereabouts, at ard 55 yrs to insure a comfortable life after retirement (lets say he retire at 55yrs old). Please work back your plan using these numbers to see how you fare.
Reply With Quote
  #10059 (permalink)  
Old 31-05-2016, 06:55 PM
Unregistered
Guest
 
Posts: n/a
Default

You're healthy financially. Quite underleveraged.

Your MSR (mortgage servicing ratio) is 16% (lower than the 30% guideline)
Your TDSR (total debt servicing ratio) is 22% (lower than the 60% guideline)

Assume you clear all your debt at your retirement age of 60.
Your savings will increase by $385k.

You can can sell your condo and buy a small one bedroom condo, paid in full.
Let's say your have cash of $1m to invest in a 5% dividend yield portfolio, you will earn $50k pa. in dividends. When you reach 65, your CPF Life will give you $43k. So your passive income will be $93k pa.


Quote:
Originally Posted by Unregistered View Post
Middle class family, 48 & 49 year old.

Our expenses

Condo mortgage $2150 pm or $25,800 pa
Car loan $800 pm or $9,600 pa
Car petrol, road tax, car insurance, parking, etc $700 pm or $8,400 pa
Groceries, restaurants & utilities $2000 pm or $24,000 pa
Medical Insurance $1700 pm or $20,400 pa
Holiday travels $800 pm or $9,600 pa
Children $500 pm or $6,000 pa
Parents allowance & gifts $1600 pm or $19,200 pa
Others $500 pm or $6,000 pa
Total expenses $10,750 pm or $129,000 pa

Total income, including bonuses $164,000 pa
Total savings $35,000 pa

Net worth

Condo equity $800k
Cash & CPF $650k
Stocks $50k
Total net worth $1.5mil

How are we doing? How do we fare compared to our contemporaries?


SG Bus Timing App
SG Bus Timing App - the best bus app - available on iOS and Android


SGX Stocks Android App - check share prices
SGX Stocks [Android] App - check latest share prices on the go


SGX Stocks for iPad - check latest Singapore share prices
SGX Stocks [iPad] app
| SGX Stocks [iPhone] app
Reply With Quote
  #10060 (permalink)  
Old 31-05-2016, 07:43 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
anyone who says there will be no big market crash in SG in the near future is just plain delusional.

based on past evidence, years ending with the digits 6 / 7 / 8 are most susceptible to market crashes...

1986 - hotel new world crashed
1987 - black monday
1997 - asian financial crisis
2008 - lehman brothers crashed
2016 / 7 / 8 - ???

COE wont drop to past lows? lol pls think again...
I agree with your assessment. What goes up must come down.

For me I am waiting for property market to crash and reset. Standing by with $1m in cash & CPF for the DP. Waiting patiently.
Reply With Quote
Reply

Bookmarks

Tags
bond, bond breaking, income pa, lawyer, saf

« 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
Industries with Highest Proportion Earning 5-Figure Monthly Income Salary.sg Income and Jobs 23 06-08-2017 05:46 PM
Lawyer earning $25k/mth forged $65k payslip to get job Salary.sg Income and Jobs 2 30-12-2011 02:42 PM

» 30 Recent Threads
How is life as a doctor in... ( 1 2 3... Last Page)
1,524 Replies, 1,005,523 Views
Singtel Management Associate... ( 1 2 3... Last Page)
129 Replies, 92,605 Views
DBS Graduate Associate Program ( 1 2 3... Last Page)
749 Replies, 383,429 Views
MINDEF DXO (All FAQ on it) ( 1 2 3... Last Page)
3,472 Replies, 2,053,149 Views
Civil Service Performance Bonus ( 1 2 3... Last Page)
1,675 Replies, 1,374,226 Views
UOB Management Associate Program ( 1 2 3... Last Page)
286 Replies, 186,872 Views
Dsta ( 1 2 3... Last Page)
846 Replies, 583,495 Views
ST Electronics ( 1 2 3... Last Page)
1,059 Replies, 283,530 Views
MasterCard Graduate Developement... ( 1 2 3)
24 Replies, 7,055 Views
AML/Compliance/KYC professionals... ( 1 2 3... Last Page)
1,407 Replies, 596,896 Views
How Much Do You Need to Earn... ( 1 2 3... Last Page)
41 Replies, 18,888 Views
How much are you earning per annum? ( 1 2 3... Last Page)
12,111 Replies, 3,890,149 Views
Career as Teacher ( 1 2 3... Last Page)
2,962 Replies, 1,817,880 Views
Software developers salary outlier ( 1 2)
13 Replies, 2,839 Views
Work culture in CPF board ( 1 2 3)
23 Replies, 35,082 Views
Civil Svc/ Statboard - Typical... ( 1 2 3... Last Page)
2,803 Replies, 1,183,120 Views
Singapore LNG Pay
4 Replies, 1,409 Views
Ex-MOE Teachers ( 1 2 3... Last Page)
85 Replies, 123,663 Views
Lawyer Salary ( 1 2 3... Last Page)
9,734 Replies, 3,180,583 Views
Compare civil service salary ( 1 2 3... Last Page)
10,916 Replies, 6,036,206 Views
Pay grade at CSA ( 1 2 3... Last Page)
150 Replies, 40,199 Views
Q: Big4 - Yearly salary increment ( 1 2 3... Last Page)
1,055 Replies, 836,015 Views
Any Kaplan students here can land... ( 1 2)
15 Replies, 2,319 Views
Part-time Higher NITEC in...
2 Replies, 1,975 Views
Allied educator scheme
2 Replies, 715 Views
Anyone jobless for a long time... ( 1 2 3... Last Page)
3,017 Replies, 1,161,209 Views
Advantages
3 Replies, 1,339 Views
DBS tech seed programme ( 1 2 3... Last Page)
168 Replies, 18,180 Views
Credit Suisse - IB Academy
0 Replies, 119 Views
Powered by vBadvanced CMPS v3.2.2



All times are GMT +8. The time now is 02:14 AM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2020, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.3.2