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How much are you earning per annum?

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  #1011 (permalink)  
Old 30-11-2011, 08:46 AM
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You are comparing now to 2009? Now is like 1H2007. Economic downturn looms in the background but the actual impact have yet to be imported into SG.

Wait for the "2009" moment to come again. Property prices have not fallen but the rate of increase is slowing down. Look at the FSSTI, it went from almost 3,000 at end of 2010 and now is 1,600.

If property prices fell in 2009, why won't it fall this time around? What's the difference?

There are only 2 groups of people in this world: those with guts (inside) and those with guts (spilling out). Your advice below is of no help to anyone either.

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There are only 2 groups of people in this world: those who have guts and those who do not. Unfortunately, your advice wouldn't be of help to either group.

Those young couples who have guts would have bought distressed properties as recently as 2009, which was not even one-tenth of a generation ago, and would have seen their investment quadrupled at least, assuming a 20% down payment for suburban condos which have generaly double in price since then.

On the other hand, those young couples who do not have guts will only tremble and urinate in their pants even if a distressed property is offered right in front of their eyes with the economy around them collapsing, their jobs at stake and bonuses cut. They will live through many property cycles without doing anything, anyway.

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  #1012 (permalink)  
Old 30-11-2011, 09:17 AM
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Quote:
Originally Posted by Unregistered View Post
You are comparing now to 2009? Now is like 1H2007. Economic downturn looms in the background but the actual impact have yet to be imported into SG.

Wait for the "2009" moment to come again. Property prices have not fallen but the rate of increase is slowing down. Look at the FSSTI, it went from almost 3,000 at end of 2010 and now is 1,600.

If property prices fell in 2009, why won't it fall this time around? What's the difference?

There are only 2 groups of people in this world: those with guts (inside) and those with guts (spilling out). Your advice below is of no help to anyone either.
Which FSSTI are you looking at? Is it this one:
FTSE Straits Times Index (FSSTI:IND) Index Performance - Bloomberg

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  #1013 (permalink)  
Old 30-11-2011, 09:31 AM
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Typo. 2,600 I meant.

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Which FSSTI are you looking at? Is it this one:
FTSE Straits Times Index (FSSTI:IND) Index Performance - Bloomberg

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  #1014 (permalink)  
Old 30-11-2011, 09:55 AM
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Quote:
Originally Posted by Unregistered View Post
There are only 2 groups of people in this world: those who have guts and those who do not. Unfortunately, your advice wouldn't be of help to either group.

Those young couples who have guts would have bought distressed properties as recently as 2009, which was not even one-tenth of a generation ago, and would have seen their investment quadrupled at least, assuming a 20% down payment for suburban condos which have generaly double in price since then.

On the other hand, those young couples who do not have guts will only tremble and urinate in their pants even if a distressed property is offered right in front of their eyes with the economy around them collapsing, their jobs at stake and bonuses cut. They will live through many property cycles without doing anything, anyway.
hehe, i was one of the those who bought one in 2003 and two after 2009. have made enough to own a freehold landed and 800K cash in the bank. now i don't really care if prices crash (can use my cash to buy a cheap one) or shoot up (my landed will increase in value).
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  #1015 (permalink)  
Old 30-11-2011, 10:54 AM
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hehe, i was one of the those who bought one in 2003 and two after 2009. have made enough to own a freehold landed and 800K cash in the bank. now i don't really care if prices crash (can use my cash to buy a cheap one) or shoot up (my landed will increase in value).
Congrats. You've succeeded in one of life's most important gambles.
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  #1016 (permalink)  
Old 30-11-2011, 06:15 PM
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Hello

I'm 45 years old and have been working in the financial services industry for the past 20 years. Because I did not job hop, my salary growth is not that great. My package fluctuated according to the performance of the market. On average over the past 5 years, my total earnings was S$110k. I'm a good and valuable worker and survived many retrenchment exercises. Do you think I'm paid enough? Or should I just quit without a job and take a 6-month break from the workforce and resume looking for a higher paying job after that? Many people advised me against doing this given the economic climate. Any advice anyone? Thanks.

Confused guy
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  #1017 (permalink)  
Old 30-11-2011, 06:28 PM
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Quote:
Originally Posted by Unregistered View Post
Hello

I'm 45 years old and have been working in the financial services industry for the past 20 years. Because I did not job hop, my salary growth is not that great. My package fluctuated according to the performance of the market. On average over the past 5 years, my total earnings was S$110k. I'm a good and valuable worker and survived many retrenchment exercises. Do you think I'm paid enough? Or should I just quit without a job and take a 6-month break from the workforce and resume looking for a higher paying job after that? Many people advised me against doing this given the economic climate. Any advice anyone? Thanks.

Confused guy
Only quit when you have secured a higher paying job. Simple common sense.
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  #1018 (permalink)  
Old 30-11-2011, 07:44 PM
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I used to be a high flying investment banker. Many of my colleagues were jealous of my success. Due to internal politics, I lost my $350k a year job. Have been searching for similar position but to no avail. Perhaps due to my age? I'm 38 years old. Now I am offered only $130k a year job in a research capacity. It is becoming very stressful for me to lower my profile among my friends. Should I take this lower profile job or wait for another ibanking job to come along?
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  #1019 (permalink)  
Old 30-11-2011, 08:29 PM
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Quote:
Originally Posted by Ex I banker View Post
I used to be a high flying investment banker. Many of my colleagues were jealous of my success. Due to internal politics, I lost my $350k a year job. Have been searching for similar position but to no avail. Perhaps due to my age? I'm 38 years old. Now I am offered only $130k a year job in a research capacity. It is becoming very stressful for me to lower my profile among my friends. Should I take this lower profile job or wait for another ibanking job to come along?
Have you tried to lower your pride and beg your ex-boss / ex-colleague to take you back?

For 200k a year, I think it's worth a try.

Otherwise, settle for the lousy research job to ride things over. You got no savings?
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  #1020 (permalink)  
Old 30-11-2011, 10:40 PM
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Quote:
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If property prices fell in 2009, why won't it fall this time around? What's the difference?
The difference is that nobody wants to end up the butt of jokes like the sellers who sold to the guy above in 2009.

Quote:
Originally Posted by Unregistered View Post
hehe, i was one of the those who bought one in 2003 and two after 2009. have made enough to own a freehold landed and 800K cash in the bank. now i don't really care if prices crash (can use my cash to buy a cheap one) or shoot up (my landed will increase in value).
2009 is still very fresh in everyone's mind, so these sellers are still the laughing stock of friends, colleagues and relatives during Christmas party.

Cousin: "What! You panicked after Lehman and sold your house for $1 million? It's worth $2.5 million now!"
Aunt: "What a pity! You gave away $1.5 million to this guy? You're generous!"
Wife: "He likes to play Santa Claus! If he does it one more time I'll file for divorce. I'm not joking OK!"
Uncle: "Ok! Ok! Don't quarrel! Come have a piece of turkey so you wouldn't chicken out so easily!"
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