How much are you earning per annum? - Page 1084 - 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
  #10831 (permalink)  
Old 16-02-2017, 02:21 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Couple, 53 & 50.
Home - 2 BR condo worth $900k, paid up.
Car - paid up.
Combined cash & CPF - $500k.
Combined net worth (excluding car) - $1.4m.
Combined income - $160k pa.
Combined cash savings - $25k pa.
How are we doing?
If you're in our age group, please share your situation.
When and how can we retire?
Since you own both a condo and a car, you are considered the top 5%.
To retire now is not easy if you maintain your current lifestyle of owning a condo and a car since you don't have any investments. However if you downgrade to a HDB flat, you can retire at 55 years old.

Reply With Quote
  #10832 (permalink)  
Old 18-02-2017, 01:20 PM
Unregistered
Guest
 
Posts: n/a
Default

What does a typical middle class Singapore family look like?

Assuming a married couple in their late 40s with two kids.

Family household income $108k pa. Husband and wife working.
Lives in a 4 room HDB flat, bought cheap during BTO. Now paid up and worth $400k.
Drives a small, normal car, maybe a 2nd hand car.
Holidays once a year to Malaysia or Thailand.
Eat at restaurants once a month.
Family net worth
- HDB flat $400k
- CPF $350k
- Cash and stocks $50k
Total net worth $800k

Do you agree?
What's your family financial profile?

Reply With Quote
  #10833 (permalink)  
Old 19-02-2017, 12:32 AM
Unregistered
Guest
 
Posts: n/a
Default

Couple, 33 and 32, uni graduated.
No kids
I'm in private sector while my wife is in public sector.
HDB worth 700k; left 300k loan.
Car worth 100k fully paid
Combined CPF 200k (OA,SA,M)
Combined Cash about 200k
Equity /stock 160k

looking to learn what might be the norm in our age bracket.

Reply With Quote
  #10834 (permalink)  
Old 19-02-2017, 12:34 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Couple, 33 and 32, uni graduated.
No kids
I'm in private sector while my wife is in public sector.
HDB worth 700k; left 300k loan.
Car worth 100k fully paid
Combined CPF 200k (OA,SA,M)
Combined Cash about 200k
Equity /stock 160k

looking to learn what might be the norm in our age bracket.
What's your household income ?
Reply With Quote
  #10835 (permalink)  
Old 19-02-2017, 12:39 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
What's your household income ?
last FY was about 240k combined from employment as couple; from dividend another 10k+.
Reply With Quote
  #10836 (permalink)  
Old 19-02-2017, 09:19 PM
Unregistered
Guest
 
Posts: n/a
Default

How much do you need when you retire at 65?

To determine the amount of money you need for your retirement expenses, you need to decide on your retirement lifestyle. Some couples say they just need $2k pm, some need $3k pm and there are those who want a lavish retirement lifestyle and they need $10k pm.

We will retire in 15 years time and I think we will need $5k pm or $60k pa. We will retire in place in our current condo. Our condo is paid up. We will have a modest retirement lifestyle.

I would like to have $1k pm extra to save. This can be used to take care of inflation.

How do I get $6k pm?

1. CPF Life Enhanced Retirement Sum (ERS) - ( $2k x 2 ) pm or $4k pm
2. Dividend income from a stocks portfolio worth $480k, which gives $2k pm (5% dividend yield).

To achieve this, we must

1. Build our CPF SA to $249k each by the time we reach 55.
2. Build our stocks portfolio to $480k by the time we reach 65.

How is your retirement plan? Are you retiring in place in your current home or are you planning to downgrade to a cheaper home?
Reply With Quote

  #10837 (permalink)  
Old 20-02-2017, 02:03 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Hi,

I'm heartened by your story. Being grateful with what we have is the way to happiness. You don't have to be rich to be happy.

Most of us are in the middle class group. 80% of us is in this group. Only the top 20% is in the high income group. These are those living in private properties and owning cars. They are the highly successful professionals and business owners.

As long as you have enough for your retirement, you should be ok.

Agree, maintaining inner peace and not affected by external factors is the key to happiness. As long as one can sustain the life with financial stability, it is not how much one possess that matters. Money is important, but there are many other things in life that need balance -harmonious family, friendly neighbours, good friends, contribution to charity and religion practice, remain healthy, etc.

While many people seems to earn good income here, I believe that majority of them have gain wealth through hard work and prudence. Some are just pure fortunate to be in good jobs or trades that generate good wealth. But it is important to teach our children - success and financial wealth does not come easily.


SG Bus Timing App
SG Bus Timing App - the best bus app - available on iPhone


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
  #10838 (permalink)  
Old 20-02-2017, 06:45 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
How much do you need when you retire at 65?

To determine the amount of money you need for your retirement expenses, you need to decide on your retirement lifestyle. Some couples say they just need $2k pm, some need $3k pm and there are those who want a lavish retirement lifestyle and they need $10k pm.

We will retire in 15 years time and I think we will need $5k pm or $60k pa. We will retire in place in our current condo. Our condo is paid up. We will have a modest retirement lifestyle.

I would like to have $1k pm extra to save. This can be used to take care of inflation.

How do I get $6k pm?

1. CPF Life Enhanced Retirement Sum (ERS) - ( $2k x 2 ) pm or $4k pm
2. Dividend income from a stocks portfolio worth $480k, which gives $2k pm (5% dividend yield).

To achieve this, we must

1. Build our CPF SA to $249k each by the time we reach 55.
2. Build our stocks portfolio to $480k by the time we reach 65.

How is your retirement plan? Are you retiring in place in your current home or are you planning to downgrade to a cheaper home?

both me and wife are currently 45 years of age. Debt free.

1. our CPF OA+SA account has $300 k each
2. we have stock portfolio of $800 k today generating $24k dividend p.a.

can we retire now at age 45?
Reply With Quote
  #10839 (permalink)  
Old 20-02-2017, 08:41 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
both me and wife are currently 45 years of age. Debt free.

1. our CPF OA+SA account has $300 k each
2. we have stock portfolio of $800 k today generating $24k dividend p.a.

can we retire now at age 45?
Need more info

1. Do you have school going children?
2. Where do you live? How much is your home valued?
3. What is you total passive income? $24k?
4. What is your total net worth (combined with spouse)?
5. What is your total monthly expenses?
Reply With Quote
  #10840 (permalink)  
Old 21-02-2017, 02:01 PM
Unregistered
Guest
 
Posts: n/a
Default Silliness

This thread is about earning per annum but I see a lot of posts asking about retirement (prolly posted by 1 person).

People who don't understand thread title cannot possibly retire.

Silliness has no limit.
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
Lawyer Salary ( 1 2 3... Last Page)
5,709 Replies, 2,387,323 Views
Whats your net worth ( 1 2 3... Last Page)
2,711 Replies, 780,471 Views
Mid-Year Civil Servant Bonus 2019 ( 1 2 3... Last Page)
1,451 Replies, 746,746 Views
Compare civil service salary ( 1 2 3... Last Page)
9,712 Replies, 5,453,922 Views
Civil Svc/ Statboard - Typical... ( 1 2 3... Last Page)
1,983 Replies, 919,459 Views
Anyone jobless for a long time... ( 1 2 3... Last Page)
2,828 Replies, 1,058,766 Views
MINDEF DXO (All FAQ on it) ( 1 2 3... Last Page)
3,215 Replies, 1,860,789 Views
Dsta ( 1 2 3... Last Page)
812 Replies, 534,369 Views
Marsh Graduate Development Program ( 1 2 3... Last Page)
46 Replies, 4,422 Views
Factual Local Bank Salaries - DBS... ( 1 2 3... Last Page)
96 Replies, 63,449 Views
Q: Big4 - Yearly salary increment ( 1 2 3... Last Page)
928 Replies, 740,254 Views
SIM-UOL fresh grad starting pay ( 1 2 3... Last Page)
2,664 Replies, 1,253,655 Views
anyone working at NCS ? ( 1 2 3... Last Page)
354 Replies, 274,920 Views
Ex-MOE Teachers ( 1 2 3... Last Page)
70 Replies, 110,179 Views
Local Uni Class of 2020 - COVID19... ( 1 2 3... Last Page)
248 Replies, 47,042 Views
Career as Teacher ( 1 2 3... Last Page)
2,570 Replies, 1,553,336 Views
DBS Management Associate Program... ( 1 2 3... Last Page)
1,308 Replies, 235,761 Views
Pay grade at CSA ( 1 2 3... Last Page)
104 Replies, 23,832 Views
Cold calls/emails to HR ( 1 2)
13 Replies, 1,249 Views
Q: Management Associate at SGX ( 1 2 3... Last Page)
84 Replies, 12,011 Views
Insurance Agent to Bancassurance...
7 Replies, 5,145 Views
Roles in accenture singapore ( 1 2 3... Last Page)
329 Replies, 240,690 Views
ITE lecturer ( 1 2 3... Last Page)
121 Replies, 113,961 Views
Insurance Management Associate... ( 1 2 3... Last Page)
60 Replies, 16,336 Views
Diploma in Digital Marketing at...
2 Replies, 1,018 Views
Mask price discount in cb period
0 Replies, 96 Views
All about Home Affairs Senior... ( 1 2 3... Last Page)
168 Replies, 169,361 Views
How is life as a doctor in... ( 1 2 3... Last Page)
1,156 Replies, 880,300 Views
Dentist Salary
7 Replies, 6,086 Views
Fresh Grad from local U cant find... ( 1 2 3... Last Page)
55 Replies, 10,528 Views
Powered by vBadvanced CMPS v3.2.2



All times are GMT +8. The time now is 09:47 PM.


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