How much are you earning per annum? - Page 1063 - 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
  #10621 (permalink)  
Old 31-10-2016, 03:11 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by lazyplane View Post
And here we go again....
Typical peasant mentality. Only know how to find the easy way out for a pathetic barely passable lifestyle.

Reply With Quote
  #10622 (permalink)  
Old 31-10-2016, 10:26 PM
Unregistered_101
Guest
 
Posts: n/a
Default

Very admirable trying to defend the engineering profession, What I do find funny lol is you trying to reason with certain loser mentality types. This forum has the good, the bad and the green eye losers. The fact they think only bankers make, and buying a condo means life achievement already indicates their loser mentality, don't bother lah

Ps I think I know roughly where your place is, should be near Ng mansion I'm guessing? If I remember that side used to flood before the canal was built hence the cheaper land prices.


Quote:
Originally Posted by Unregistered View Post
Lol I find it funny you're trying so hard to find holes in my simple post.

Okay we have a small terrace around the area which we've been trying hard to rent out, because of this we've switched many agents and the agents come to our house for discussions.

One of the agents we appointed to rent out the place (thru recommendation) was somewhat naive messaged my dad and asked if we were interested in selling our place instead and she has a ready buyer at 8M. Honestly 8M for our place is a super duper good deal. Of course we turned it down politely (when I knew of it I was like wtf is she inexperienced or what?)

anymore questions?


Reply With Quote
  #10623 (permalink)  
Old 04-11-2016, 11:43 AM
Unregistered
Guest
 
Posts: n/a
Default

My spouse and I will soon turn 55, an age we both look forward to as we had long planned for this wonderful age. We had started planning for our retirement years ago and we will soon enjoy the fruits of our labour.

We are ready for retirement as we no longer have any debt on our 3 bedroom condominium home. We have fully paid it up. We are fortunate that our home is near to an MRT station and a shopping mall. Our children have also grown up and will soon be independent as they will chart their own journey of life.

Once we reach 55, we will invest in assets that will generate passive income of $4,500 pm or $54,000 pa.

Here are our expected expenses (for 2 retired old people):

Groceries and food $800 pm
Utilities and condominium fees $600 pm
Public transport $200 pm
Medical and insurance $700 pm
Entertainment $200 pm
Holidays (pro rated) $300 pm
Miscellaneous items $200 pm
Total $3,000 pm or $36,000 pa

We can still save $1,500 pm or $18,000 pa.

Reply With Quote
  #10624 (permalink)  
Old 06-11-2016, 03:07 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
A husband & wife couple who are both engineers (they are not high income earners) can still retire at 55 if they are disciplined. They must not upgrade their lifestyle even though their income rises over the years.

Assuming they bought their BTO 4 room HDB flat at a very cheap price (at only $300k) and paid their mortgage off by 55 using their CPF. They also stay in their flat all their lives. Also they don't own a car and don't employ a maid (it costs $2k pm to own a car and $1k pm to employ a maid). They can easily save on average $30k pa over their 30 years of working. This means they can save $900k by the time they retire at 55.

With $900k, they can invest in a 5% dividend yield portfolio of good, blue chip stocks which give them $45k pa in dividends. They can also rent out two of their empty rooms since their children would have been married and staying in their own BTO flat. They can get $700 pm for each room.

In total, their passive income will be $5,150 pm. This is enough for them to buy food and pay utilities for two retired old persons. At 65, their passive income will rise by an additional $3,600 pm from their CPF Life. So it becomes $8,750 pm in passive income!

So, even an engineer married couple can retire at 55 if they don't overspend by upgrading to a condo, owning a car and employing a maid. These luxuries are just for those (eg bankers) who are high income earners.

We are very lucky to have the very cheap BTO HDB flat system, which allows those who are not high income earners to easily afford a home and retire comfortably.
Pathetic peasant mentality, if every singapore is so easily satisfied, no more nice condos and cars already.. Hawker will be full, restaurants empty ..
Reply With Quote
  #10625 (permalink)  
Old 07-11-2016, 12:44 PM
Unregistered
Guest
 
Posts: n/a
Default

Good advice. Those who are not high income people should spend wisely. Many people aspire to live in a private condo but they cannot afford. Better for them to be humble and lead a humble life.


Quote:
Originally Posted by Unregistered View Post
A husband & wife couple who are both engineers (they are not high income earners) can still retire at 55 if they are disciplined. They must not upgrade their lifestyle even though their income rises over the years.

Assuming they bought their BTO 4 room HDB flat at a very cheap price (at only $300k) and paid their mortgage off by 55 using their CPF. They also stay in their flat all their lives. Also they don't own a car and don't employ a maid (it costs $2k pm to own a car and $1k pm to employ a maid). They can easily save on average $30k pa over their 30 years of working. This means they can save $900k by the time they retire at 55.

With $900k, they can invest in a 5% dividend yield portfolio of good, blue chip stocks which give them $45k pa in dividends. They can also rent out two of their empty rooms since their children would have been married and staying in their own BTO flat. They can get $700 pm for each room.

In total, their passive income will be $5,150 pm. This is enough for them to buy food and pay utilities for two retired old persons. At 65, their passive income will rise by an additional $3,600 pm from their CPF Life. So it becomes $8,750 pm in passive income!

So, even an engineer married couple can retire at 55 if they don't overspend by upgrading to a condo, owning a car and employing a maid. These luxuries are just for those (eg bankers) who are high income earners.

We are very lucky to have the very cheap BTO HDB flat system, which allows those who are not high income earners to easily afford a home and retire comfortably.
Reply With Quote
  #10626 (permalink)  
Old 07-11-2016, 08:50 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Good advice. Those who are not high income people should spend wisely. Many people aspire to live in a private condo but they cannot afford. Better for them to be humble and lead a humble life.
We must be prudent financially so that we have enough for our retirement. Don't just spend as you wish, and then become a burden to others in your old age.

Don't listen to stupid fools in this forum who tell you to spend and spend, beyond your means. Be responsible.
Reply With Quote

  #10627 (permalink)  
Old 07-11-2016, 09:43 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
We must be prudent financially so that we have enough for our retirement. Don't just spend as you wish, and then become a burden to others in your old age.

Don't listen to stupid fools in this forum who tell you to spend and spend, beyond your means. Be responsible.
Need to strike a balance. Its not good to spend everything and end up no savings, however must also have good financial goals, not super low ones that result in lousy retirement then try to convince yourself that money doesnt matter as it cant buy everything.

I see some of my PME friends do their retirement planning by assuming they can survive on $3k every month per person. Survive is can survive, but already work so many years why live so pathetically when you can finally relax.
Reply With Quote
  #10628 (permalink)  
Old 07-11-2016, 11:36 PM
Unregistered
Guest
 
Posts: n/a
Default

And it's important not to squander your biggest asset (your human capital) by retiring young. Retiring young is already bad enough, and yet there are those who did it just to spend their time looking out of windows or because of the fear of getting stuck in a little bit of traffic jam. I was like "what kind of idiot would give up a high salary just to avoid a little traffic jam?"

The other problem of retiring young is that as time goes by, insecurity sets in when you see younger people start to earn more than you did, prices of things start to go beyond what you predicted/projected while your passive income remained constant and your savings get depleted.

For eg., one of the "retiree" from this forum boasted in the "compare your annual salary forum" that his passive income placed him above 70% of income earners here and that he was probably the richest retiree. At the top 30%, that translated to a passive income of about $80k pa. Not bad at this point in time. But remember, the passive income is not likely to grow and might even be reduced in bad economic condition, while those who are still in the workforce will see their income increase in time.

With just $80k pa of passive income, instead of enjoying your retirement, it is very likely you will be watching your every expense. That really takes away the joy.

Quote:
Originally Posted by Unregistered View Post
Need to strike a balance. Its not good to spend everything and end up no savings, however must also have good financial goals, not super low ones that result in lousy retirement then try to convince yourself that money doesnt matter as it cant buy everything.

I see some of my PME friends do their retirement planning by assuming they can survive on $3k every month per person. Survive is can survive, but already work so many years why live so pathetically when you can finally relax.
Reply With Quote
  #10629 (permalink)  
Old 08-11-2016, 11:03 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Pathetic peasant mentality, if every singapore is so easily satisfied, no more nice condos and cars already.. Hawker will be full, restaurants empty ..
Totally agree. We must not be easily satisfied. We must work harder and longer to achieve more.

Don't be like the guy who is satisfied with living in a cheap condo, costing less than $2m.

We should all work harder and longer to aspire to own a Good Class Bungalow (costing $20m at least) plus an investment portfolio worth $30m. Then we can retire. $50m should be enough for us to retire well, travelling first class, holidaying all over the world and eating at high class restaurants.
Reply With Quote
  #10630 (permalink)  
Old 08-11-2016, 04:57 PM
Unregistered
Guest
 
Posts: n/a
Default

All of you. Keep quiet and get back to work immediately. The day you can stop working is when you are in heaven or hell if you not lucky. Your children or dogs if you dont have children, will get to spend your monies because of your obsession with monies always not enough mentality. Ok enough......dont let me catch you here in this forum again.
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
Career as Teacher ( 1 2 3... Last Page)
2,447 Replies, 1,494,010 Views
Compare civil service salary ( 1 2 3... Last Page)
9,190 Replies, 5,304,741 Views
Lawyer Salary ( 1 2 3... Last Page)
5,041 Replies, 2,202,512 Views
DBS Graduate Associate Program ( 1 2 3... Last Page)
671 Replies, 327,674 Views
Big 4 firm rescind offers ( 1 2 3... Last Page)
64 Replies, 17,887 Views
Anyone jobless for a long time... ( 1 2 3... Last Page)
2,724 Replies, 1,020,184 Views
Job offer from Apple ( 1 2 3... Last Page)
433 Replies, 73,630 Views
Civil Svc/ Statboard - Typical... ( 1 2 3... Last Page)
1,857 Replies, 873,414 Views
Anybody starting/started new job... ( 1 2)
12 Replies, 1,700 Views
Marsh Graduate Development Program ( 1 2 3)
21 Replies, 1,929 Views
MINDEF DXO (All FAQ on it) ( 1 2 3... Last Page)
3,006 Replies, 1,807,357 Views
Civil Service Performance Bonus ( 1 2 3... Last Page)
1,585 Replies, 1,233,633 Views
Local Uni Class of 2020 - COVID19... ( 1 2 3... Last Page)
56 Replies, 10,507 Views
Insurance Management Associate... ( 1 2 3... Last Page)
32 Replies, 12,783 Views
Constituency Manager (People... ( 1 2 3... Last Page)
855 Replies, 430,825 Views
Career advice
3 Replies, 1,014 Views
career dilemma in 30s ( 1 2)
11 Replies, 2,717 Views
What course should I undertake?
9 Replies, 3,254 Views
All about Home Affairs Senior... ( 1 2 3... Last Page)
163 Replies, 166,021 Views
SPF (Direct-Entry Inspector) ( 1 2)
12 Replies, 2,283 Views
Please advise on my career path... ( 1 2)
15 Replies, 12,266 Views
How is life as a doctor in... ( 1 2 3... Last Page)
1,082 Replies, 847,515 Views
What are your Job benefits ( 1 2)
15 Replies, 7,382 Views
Casino Regulatory Authority
1 Replies, 4,431 Views
Relocating to Singapore, is... ( 1 2 3)
28 Replies, 29,548 Views
Summer Internships 2020 ( 1 2 3... Last Page)
39 Replies, 2,305 Views
Q: Big4 - Yearly salary increment ( 1 2 3... Last Page)
879 Replies, 719,674 Views
MAS : Mid Career Professionals ( 1 2 3... Last Page)
123 Replies, 96,395 Views
Life as a ICA Senior Officer ( 1 2 3... Last Page)
104 Replies, 121,979 Views
Chevron COBRA assesment, please... ( 1 2)
18 Replies, 49,012 Views
Powered by vBadvanced CMPS v3.2.2



All times are GMT +8. The time now is 01:36 PM.


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