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How much are you earning per annum?

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  #11121 (permalink)  
Old 09-08-2017, 11:26 AM
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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.
That is very impressive. How old are you and your wife and which sectors are both of you working in? Please also share with us the market value of your investment property (after deducting mortgage if any). After your recent sale of some of your shareholding, what is the cash amount you are holding (war chest) versus the market value of your portfolio of shares.

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  #11122 (permalink)  
Old 21-08-2017, 07:32 AM
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Default The story of Joe

Wish to share a real story but names are fictitious for obvious reasons, in case people involved happen to visit this forum.

Joe is a typical Singaporean guy, good academically, graduated with 2.1 and entered the workforce immediately upon graduation. He was hardworking and dedicated to his work. By the age of 36, and still single, he saw that he has amassed a networth of $1M. He was obviously very pleased with himself.

He started to compare his networth among his peers and he found that he beat them all. Then one day, after a meeting he chatted with a senior colleague, 45 yo Henry. Henry told him that his family's networth was $4.5M. Henry's wife is also working and they have 2 kids and they stay in a condo.

Not only that, Henry also let on that a director in the company, 60 yo Mark, had hinted that he has $10M networth and has a passive income of $180k each year!

Joe did some quick calculations and concluded that to grow his networth from $1M to $4.5M in 9 years (to catch up with Henry) he will need to save/grow his assets by $388k each year. And to catch up with Mark's networth of $10M, he will need to save / grow his assets by $375k every year for 24 years!

This knowledge deeply saddens Joe and he became moody and dejected as he didnt see how he was ever going to earn and save that much.

Many morals and lessons here.

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  #11123 (permalink)  
Old 22-08-2017, 08:43 PM
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Originally Posted by Unregistered View Post
Wish to share a real story but names are fictitious for obvious reasons, in case people involved happen to visit this forum.

Joe is a typical Singaporean guy, good academically, graduated with 2.1 and entered the workforce immediately upon graduation. He was hardworking and dedicated to his work. By the age of 36, and still single, he saw that he has amassed a networth of $1M. He was obviously very pleased with himself.

He started to compare his networth among his peers and he found that he beat them all. Then one day, after a meeting he chatted with a senior colleague, 45 yo Henry. Henry told him that his family's networth was $4.5M. Henry's wife is also working and they have 2 kids and they stay in a condo.

Not only that, Henry also let on that a director in the company, 60 yo Mark, had hinted that he has $10M networth and has a passive income of $180k each year!

Joe did some quick calculations and concluded that to grow his networth from $1M to $4.5M in 9 years (to catch up with Henry) he will need to save/grow his assets by $388k each year. And to catch up with Mark's networth of $10M, he will need to save / grow his assets by $375k every year for 24 years!

This knowledge deeply saddens Joe and he became moody and dejected as he didnt see how he was ever going to earn and save that much.

Many morals and lessons here.
Moral of teh story:
Get married to an equally capable Wife and he only needs to grow his wealth by 195k per year (through savings and returns).

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  #11124 (permalink)  
Old 22-08-2017, 08:54 PM
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Quote:
Originally Posted by Unregistered View Post
Wish to share a real story but names are fictitious for obvious reasons, in case people involved happen to visit this forum.

Joe is a typical Singaporean guy, good academically, graduated with 2.1 and entered the workforce immediately upon graduation. He was hardworking and dedicated to his work. By the age of 36, and still single, he saw that he has amassed a networth of $1M. He was obviously very pleased with himself.

He started to compare his networth among his peers and he found that he beat them all. Then one day, after a meeting he chatted with a senior colleague, 45 yo Henry. Henry told him that his family's networth was $4.5M. Henry's wife is also working and they have 2 kids and they stay in a condo.

Not only that, Henry also let on that a director in the company, 60 yo Mark, had hinted that he has $10M networth and has a passive income of $180k each year!

Joe did some quick calculations and concluded that to grow his networth from $1M to $4.5M in 9 years (to catch up with Henry) he will need to save/grow his assets by $388k each year. And to catch up with Mark's networth of $10M, he will need to save / grow his assets by $375k every year for 24 years!

This knowledge deeply saddens Joe and he became moody and dejected as he didnt see how he was ever going to earn and save that much.

Many morals and lessons here.
You forgot to mention that I will be treating Henry and Joe tomorrow for beating their sales targets.
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  #11125 (permalink)  
Old 22-08-2017, 09:39 PM
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My age is around Joe's but my net worth exceeds Mark, so what is the moral of the story here? Please elaborate.

Also why should Joe feel dejected? he might as well compare himself to Mark Zuckerberg

Quote:
Originally Posted by Unregistered View Post
Wish to share a real story but names are fictitious for obvious reasons, in case people involved happen to visit this forum.

Joe is a typical Singaporean guy, good academically, graduated with 2.1 and entered the workforce immediately upon graduation. He was hardworking and dedicated to his work. By the age of 36, and still single, he saw that he has amassed a networth of $1M. He was obviously very pleased with himself.

He started to compare his networth among his peers and he found that he beat them all. Then one day, after a meeting he chatted with a senior colleague, 45 yo Henry. Henry told him that his family's networth was $4.5M. Henry's wife is also working and they have 2 kids and they stay in a condo.

Not only that, Henry also let on that a director in the company, 60 yo Mark, had hinted that he has $10M networth and has a passive income of $180k each year!

Joe did some quick calculations and concluded that to grow his networth from $1M to $4.5M in 9 years (to catch up with Henry) he will need to save/grow his assets by $388k each year. And to catch up with Mark's networth of $10M, he will need to save / grow his assets by $375k every year for 24 years!

This knowledge deeply saddens Joe and he became moody and dejected as he didnt see how he was ever going to earn and save that much.

Many morals and lessons here.
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  #11126 (permalink)  
Old 23-08-2017, 07:29 AM
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Quote:
Originally Posted by Unregistered_101 View Post
My age is around Joe's but my net worth exceeds Mark, so what is the moral of the story here? Please elaborate.

Also why should Joe feel dejected? he might as well compare himself to Mark Zuckerberg

Haha. I hope Joe doesnt find out about your networth (exceeds $10M?) while only at 36. Else he might go into depression. If not depression, he might become delusional and start thinking his $1M is $10M too!


I will list the possible morals of the story of Joe here:

1. When you achieved your target, say for Joe's case, it was $1M after 10 yrs of work, enjoy the moment and perhaps even treat yourself and parents (Joe still stay with his parents) to a good holiday. In fact, set many goals along your life's journey and savour and enjoy every target met - before you lose that winning feeling each time.

2. Dont rest on your laurels, after achieving a target, set the next higher target to be achieved - simply because there are higher targets to be achieved.

3. There is a big world out there, when comparing, dont just compare within your cohort (and feel smug), compare beyond your cohort, close friends and company.

4. It is very hard for a single person to beat / match the networth of a working couple (even with children). For a working couple, it is not 1 + 1 = 2. It is 1 + 1 > 2. If a single person can save 50% of his salary, a working couple can save one spouse's full salary plus half of the other spouse's salary. When the working couple reach their 50s (as in Mark's case), they could be saving their whole salary - each and every year. I can testify to this.

5. Instead of feeling dejected or defeated, try and learn from others how they achieved their networth.
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  #11127 (permalink)  
Old 23-08-2017, 10:17 AM
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Tony is on a distinguished road
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Financial Consultant 120k pa
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  #11128 (permalink)  
Old 23-08-2017, 11:17 AM
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Originally Posted by Tony View Post
Financial Consultant 120k pa
Is it the same as financial advisor, insurance agent? Got CPF? Leave / bonus?

How old and whats your net worth?
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  #11129 (permalink)  
Old 23-08-2017, 09:13 PM
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Nothing to be depressed about, I didn't earn most of my money and I work pretty high stressed job just like anyone else as any able bodied person should. I think if Joe knew he would feel quite the opposite.

Agree on the below points, but I'll add No.5 that you can only learn from the people you look up too. Many rich a-holes around its hard to learn if you don't respect the person.

Anyway times have change, using your example "Mark" at 60 would have multiple opportunities compared to "Joe" to make good money, for example Mark could have bought a bungalow or semi-D if he held a professional job 20 years ago something which Joe would struggle to do today assuming similiar pay scales. Other examples include stock investments etc. Any of these during "Mark's" time would have paid back in 100's of percent.

Anyway this day and age there are multiple avenues to make money, saw a video about some guy who make 10M a year just doing video's. If one lacks the ability in one area there are always others. If they feel dejected it's just because of laziness to learn.

Health, good family and a decent living make a man's true network, anything else is bonus.


Quote:
Originally Posted by Unregistered View Post
Haha. I hope Joe doesnt find out about your networth (exceeds $10M?) while only at 36. Else he might go into depression. If not depression, he might become delusional and start thinking his $1M is $10M too!


I will list the possible morals of the story of Joe here:

1. When you achieved your target, say for Joe's case, it was $1M after 10 yrs of work, enjoy the moment and perhaps even treat yourself and parents (Joe still stay with his parents) to a good holiday. In fact, set many goals along your life's journey and savour and enjoy every target met - before you lose that winning feeling each time.

2. Dont rest on your laurels, after achieving a target, set the next higher target to be achieved - simply because there are higher targets to be achieved.

3. There is a big world out there, when comparing, dont just compare within your cohort (and feel smug), compare beyond your cohort, close friends and company.

4. It is very hard for a single person to beat / match the networth of a working couple (even with children). For a working couple, it is not 1 + 1 = 2. It is 1 + 1 > 2. If a single person can save 50% of his salary, a working couple can save one spouse's full salary plus half of the other spouse's salary. When the working couple reach their 50s (as in Mark's case), they could be saving their whole salary - each and every year. I can testify to this.

5. Instead of feeling dejected or defeated, try and learn from others how they achieved their networth.
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  #11130 (permalink)  
Old 23-08-2017, 10:50 PM
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I'm a marketing manager in a MNC and have 6+ years of work experience in the same company. I started with a basic salary of 3k six years back when I graduated and I'm currently getting a basic of 5.2k monthly, annual with bonus around 80k+. As I've been working in the same company all these years, I'm not sure if this is considered alright or are people getting much more out there?
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