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How much are you earning per annum?

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  #11111 (permalink)  
Old 23-07-2017, 08:05 AM
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Thanks for sharing. Congratulations on your success, Sir. You're lucky to live in a luxury condo. Not many can afford to live in a luxury condo. 80% live in HDB flats. Not many drive a luxury car. You must be in your 50s. For successful top executives, to retire in their 50s is considered old. The most successful ones can retire in their 40s to enjoy life. Don't forget to donate to charities with your wealth. You don't want to be the richest man in the grave. Your true worth is not how much you have at your death bed but how much you have given away and contributed to the betterment of humanity. Don't let lust and greed control you. The more you give away, the happier you will be.

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Happily retired after 45 years of hard work. I've decided to quit the rat race. Enjoying every minute of my retired life.

Since primary school, I studied very hard and went to top schools. Total number of years of studying hard from primary one (6 years old) to university - 20 years.

Then I excelled in my career. Total number of years of salaried work - 25 years.

I now deserve a good rest. I plan to pursue many interests such as traveling the world, reading extensively, writing, mentoring, volunteering for worthy causes, etc.

I have accumulated enough wealth. I have been extremely successful in my investments. My luxury condo and luxury car are both fully paid up and I have good passive income. I don't need to earn more and more from salaried work.

I'm happy retiring in place in my modern luxury condo which has full facilities and a high level of security. It is located in a good district.

My family's quality of life is definitely much better now. That's what matters most.

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  #11112 (permalink)  
Old 23-07-2017, 09:44 PM
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How much do you need to invest to make $150k pa and what are you investing in?
Buy and hold Creative shares. Thank me 3 years later.

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  #11113 (permalink)  
Old 03-08-2017, 10:25 AM
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Age: Husband (34), Wife (32)
Combined Annual Salary: $420K



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  #11114 (permalink)  
Old 03-08-2017, 12:59 PM
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Age: Husband (34), Wife (32)
Combined Annual Salary: $420K
jin satki, millionaire in < 3 years time.
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  #11115 (permalink)  
Old 03-08-2017, 08:57 PM
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30 years old Bachelor degree in IT doing consultancy work in an IT company.

7 years of working experience and drawing 200k per annum.


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  #11116 (permalink)  
Old 04-08-2017, 05:24 PM
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Hi all, I am in the healthcare industry and recently offered the a job (it's my 2nd job after grad). Although I graduated from local Uni, the salary I am offered is only a 1.6% (yes, one point six percent) increment of my previous salary. Is this normal? Or am I getting shortchanged?
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  #11117 (permalink)  
Old 04-08-2017, 11:37 PM
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Default Mass market condos and luxury condos

Condo living are the aspiration of many Singaporeans. It is hard to earn and save up for a mass market condo, what with a typical 3 bedroom condo already costing well over $1M. Even tiny 2 bedroom condos outside the central region can set you back $1M, what more if you want a luxury condo.

Luxury condos usually have these 3 attributes that put their prices way out of reach of the average Singaporean. The 3 attributes are: Central location or in districts 9 and 10, bigger floor areas ranging from 2,200 sq ft to 7,000 sq ft, and freehold or 999 year leasehold status. Even the cheapest luxury condo at $2,500psf for a $2,000sq ft home will cost you $4.5M! It is not uncommon to find luxury condos in Singapore changing hands above $6M. The bigger and more exclusive ones can easily exceed $10M in price.

While its nice to stay in a bigger and spacious home and in an exclusive condo setting, my wife and I decided that at our current age, it is more important to make our money work hard for us. The cash flow they bring in will enable us to retire well, while living in an expensive condo will not add to our cash flow when we retire.

If you have $6M net-worth or more, instead of plonking all that money into a luxury condo or landed property, buy 2 to 3 mass market condos. You can stay in one, and rent out the two to generate passive income. Better still, like us, you can further take advantage of the prolonged low interest rate climate. Instead of paying in full for your investment condos, you could take bank loans to enjoy the low interest rates. The rest of the money you could leave it in your CPF and a guaranteed 2.5% pa with no risk, or invest them in shares or ETF.

In this way, you make your money work in 3 different ways simultaneously- rental income, interest income / dividends from shares and capital appreciation of your condos.

This is what we have been doing for a few years already. Our total passive income is around $150k pa. - not including capital appreciation in our properties / shares. This is enough to fund our yearly expenses. If we had used the money to buy a luxury condo, we dont think we will have little or no passive income! We will not be able to retire or we will have to downgrade.
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  #11118 (permalink)  
Old 06-08-2017, 09:00 PM
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Quote:
Originally Posted by Unregistered View Post
Condo living are the aspiration of many Singaporeans. It is hard to earn and save up for a mass market condo, what with a typical 3 bedroom condo already costing well over $1M. Even tiny 2 bedroom condos outside the central region can set you back $1M, what more if you want a luxury condo.

Luxury condos usually have these 3 attributes that put their prices way out of reach of the average Singaporean. The 3 attributes are: Central location or in districts 9 and 10, bigger floor areas ranging from 2,200 sq ft to 7,000 sq ft, and freehold or 999 year leasehold status. Even the cheapest luxury condo at $2,500psf for a $2,000sq ft home will cost you $4.5M! It is not uncommon to find luxury condos in Singapore changing hands above $6M. The bigger and more exclusive ones can easily exceed $10M in price.

While its nice to stay in a bigger and spacious home and in an exclusive condo setting, my wife and I decided that at our current age, it is more important to make our money work hard for us. The cash flow they bring in will enable us to retire well, while living in an expensive condo will not add to our cash flow when we retire.

If you have $6M net-worth or more, instead of plonking all that money into a luxury condo or landed property, buy 2 to 3 mass market condos. You can stay in one, and rent out the two to generate passive income. Better still, like us, you can further take advantage of the prolonged low interest rate climate. Instead of paying in full for your investment condos, you could take bank loans to enjoy the low interest rates. The rest of the money you could leave it in your CPF and a guaranteed 2.5% pa with no risk, or invest them in shares or ETF.

In this way, you make your money work in 3 different ways simultaneously- rental income, interest income / dividends from shares and capital appreciation of your condos.

This is what we have been doing for a few years already. Our total passive income is around $150k pa. - not including capital appreciation in our properties / shares. This is enough to fund our yearly expenses. If we had used the money to buy a luxury condo, we dont think we will have little or no passive income! We will not be able to retire or we will have to downgrade.
35 yo
Active income: 260K pa
Passive income: 180K pa
No car
Stay in 4r hdb flat
Eat in dtf once a month
Travel to Bangkok once a year for holidays
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  #11119 (permalink)  
Old 08-08-2017, 01:50 PM
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6 years of experience, earning 250k p.a. with short working hours. I'm genuinely curious on what you actually do.
Yeah. You actually believe him?

Finishing MBA soon? So he's doing a part time MBA while holding a 250k full time job?

Hmm.

Ok.

Take everything you read with a huge shovel full of salt
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  #11120 (permalink)  
Old 09-08-2017, 10:16 AM
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Default Growing your networth bit by bit

Happy National Day all!

As most of us take a break from work today, we must be thankful for the many others who go to work today to ensure our little city functions and is safe. If you are one of the essential personnel who works today - a big thank you!

Today I will be taking the time to do a quick review of my networth and investment. Our combined (wifey and I) networth is currently at $7M up from $6.45M at the beginning of the year. This $400k increase was due in large part to the steady climb of the stock markets, and the slight recovery of the property markets.

Each percentage rise in the STI will raise our shares value by about $15k. So in the first 6 months of this year, while doing nothing (in terms of share investment/trading), we saw our share value grew by $200k. The converse is also true and has happened. Meaning when the stock market tanked, we saw our share value and correspondingly, our networth dropped.

So this time, we decided to take profits off the market. We sold off some of our shares and took back $150k back in cash.

The value of our properties have also inched up. I believe this was due to the string of successful enblocs and the aggressive bids for land sales. Somehow, the demand is back. The combined increase of our property values is about $200k. Just like that.

This two investment sources increased our networth by $400k from Jan to Jul. The remaining contributor was our savings from salary. In that 7 months, we saved $150k.

So, this first 7 months of the year has been good.

If the stock markets continue to climb, we will do rebalancing of our shares investment, take more profits off the market and wait for the next cycle - who knows when.

And if the property market sizzles, we may also offload our investment property, take profit.
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