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How much are you earning per annum?

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  #11261 (permalink)  
Old 12-10-2017, 06:33 PM
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Well done.. you and wifey have aged by 3yrs but your fantastic Red MPV has only grown by 1yr.. so did you pay 3X the COE then??
I switched from a red-plated Odyssey to an Estima in 2015. The Estima is 7 years old now. Btw, I only buy 2nd hand cars.

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  #11262 (permalink)  
Old 13-10-2017, 11:58 PM
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Looking back at what I wrote in 2014 brings back many memories.

Anyway, my updated info:

Age: 42, 40
Work: both still in financial industry, still in a support function (so not your banker, salesperson, trader etc)
Total income: $730K, $230K
Residence: moved to a terrace house in 2015, while still holding on to my hdb which I have lived for 15 years.
Car: 7-yr MPV (changed to normal plate, and driving to work now).
Income tax for FY2017: $101K, $3.6K cos of working mothers' tax relief, SRS, CPF top-up etc.
Savings: $3.2m
Networth: $6.7m currently

Made steady progress since 2014, but still some way to achieving financial independence and earning passive income to match my expenses.

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Interested to know what level of support can earn $60k per annum oh?

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  #11263 (permalink)  
Old 14-10-2017, 07:54 AM
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Interested to know what level of support can earn $60k per annum oh?
Suffice it to say we are both in risk management functions (which includes Legal, Risk, Operations, HR, Compliance, IT etc). Also note that the figures quoted are income subject to tax, my bonuses is in the 6-10 months range in the past few years, and a large part of the bonus is subject to 3-year deferrals. That's why the take home pay per month is much lesser than $60k per month, it's nearer to $33k per month. The rest are variable and may be cut to zero in a downturn.

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  #11264 (permalink)  
Old 14-10-2017, 09:09 AM
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Suffice it to say we are both in risk management functions (which includes Legal, Risk, Operations, HR, Compliance, IT etc). Also note that the figures quoted are income subject to tax, my bonuses is in the 6-10 months range in the past few years, and a large part of the bonus is subject to 3-year deferrals. That's why the take home pay per month is much lesser than $60k per month, it's nearer to $33k per month. The rest are variable and may be cut to zero in a downturn.
Ok thanks. You are 2 years older than your wife but your income is so much higher even though both are in risk management. Can I say that your wife's income is more representative of the average income and yours is an outlier? And, your wife's income of $230k per annum, does it also include few months of deferred bonus? Thanks.
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  #11265 (permalink)  
Old 14-10-2017, 09:15 AM
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I guess I'm more senior in title and responsibility, and prob also luckier in my career. We also made a conscious decision for her to have work-life balance so that she can tend to the 2 kids. That could have impacted her career advancement. The other thing to note is we are in different risk mgt functions so the demand/supply dynamics of our jobs are not the same. Her comp level is such that her bonus is all cash (around 2 mths).

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Ok thanks. You are 2 years older than your wife but your income is so much higher even though both are in risk management. Can I say that your wife's income is more representative of the average income and yours is an outlier? And, your wife's income of $230k per annum, does it also include few months of deferred bonus? Thanks.
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  #11266 (permalink)  
Old 14-10-2017, 11:14 AM
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Suffice it to say we are both in risk management functions (which includes Legal, Risk, Operations, HR, Compliance, IT etc). Also note that the figures quoted are income subject to tax, my bonuses is in the 6-10 months range in the past few years, and a large part of the bonus is subject to 3-year deferrals. That's why the take home pay per month is much lesser than $60k per month, it's nearer to $33k per month. The rest are variable and may be cut to zero in a downturn.
Is yours a back office or middle office role?
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  #11267 (permalink)  
Old 15-10-2017, 09:25 AM
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48, retired from the corporate sector. 3 bedroom luxury condo is paid up. Luxury continental car is paid up.

I've decided to retire from the finance sector (front office) to focus on my health. I'm not a healthy person. High stress, lack of rest and sleep and an unhealthy lifestyle can end my life early.

My health is priceless. No point having so much wealth but unhealthy and miserable. Worse, I may suddenly die due to poor health. I know many cases of early death - their profile similar to mine.

I'm fortunate that I didn't spend away my high income. Instead I've invested in stocks and properties and made lots of money. I'm now financially independent.

I now spend my time doing what I love most - investing, minus the high stress and deadlines. I am earning good income from stocks and investment properties. I keep myself busy by regular exercise at the condo gym, learning more about health matters, volunteering for worthy causes and looking for new investment opportunities to grow my portfolio.

My QUALITY of LIFE has improved significantly. I'm a lot happier too!
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  #11268 (permalink)  
Old 15-10-2017, 04:49 PM
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48, retired from the corporate sector. 3 bedroom luxury condo is paid up. Luxury continental car is paid up.

I've decided to retire from the finance sector (front office) to focus on my health. I'm not a healthy person. High stress, lack of rest and sleep and an unhealthy lifestyle can end my life early.

My health is priceless. No point having so much wealth but unhealthy and miserable. Worse, I may suddenly die due to poor health. I know many cases of early death - their profile similar to mine.

I'm fortunate that I didn't spend away my high income. Instead I've invested in stocks and properties and made lots of money. I'm now financially independent.

I now spend my time doing what I love most - investing, minus the high stress and deadlines. I am earning good income from stocks and investment properties. I keep myself busy by regular exercise at the condo gym, learning more about health matters, volunteering for worthy causes and looking for new investment opportunities to grow my portfolio.

My QUALITY of LIFE has improved significantly. I'm a lot happier too!
Aren't you leaving too much on the table by leaving when you are at the peak of earning capability??? Just a few years more would have added very significantly to your coffer. And, you dun really have to go all out.
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  #11269 (permalink)  
Old 15-10-2017, 06:53 PM
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Aren't you leaving too much on the table by leaving when you are at the peak of earning capability??? Just a few years more would have added very significantly to your coffer. And, you dun really have to go all out.
No regrets. I was at high risk of early death. Anyway, I own a lot already. What's the use of that extra money when you are extremely unhealthy and risk death any time? Worth it?


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  #11270 (permalink)  
Old 15-10-2017, 11:41 PM
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No regrets. I was at high risk of early death. Anyway, I own a lot already. What's the use of that extra money when you are extremely unhealthy and risk death any time? Worth it?
You think only. Happily retired also can die anytime. If you sleep well and dun go all out, it is better to stay active. Conserve energy. Anyway, just my opinion. No right or wrong.
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