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How much are you earning per annum?

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  #11271 (permalink)  
Old 16-10-2017, 09:05 AM
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Is yours a back office or middle office role?
Ours are non-front office roles.

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  #11272 (permalink)  
Old 16-10-2017, 11:38 AM
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Default Compare your salary

The salary.sg has updated data on annual salaries. You can now compare your salary here: .salary.sg/2017/compare-your-annual-income-2017/

Those earning $1M, is among the top 0.3%.
A salary of $500k puts you at the top 2.5%
A salary of $250k puts you at the top 5.5%

You will need to earn $270k to be among the top 5%.

Singapore has about 2.3M workers. Therefore there are about 115,000 people in Singapore earning $270k and above.

For a power professional couple, they can easily bring home half a million $ combined every year! If they are in their late 40s and 50s, with passive incomes of $100k and more, that income could be above $600k easily.

Even though we are not a power couple, we are already having $550k combined yearly income (including our passive income), from which we save $400k+ a year.

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  #11273 (permalink)  
Old 16-10-2017, 03:52 PM
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Originally Posted by Unregistered View Post
The salary.sg has updated data on annual salaries. You can now compare your salary here: .salary.sg/2017/compare-your-annual-income-2017/

Those earning $1M, is among the top 0.3%.
A salary of $500k puts you at the top 2.5%
A salary of $250k puts you at the top 5.5%

You will need to earn $270k to be among the top 5%.

Singapore has about 2.3M workers. Therefore there are about 115,000 people in Singapore earning $270k and above.

For a power professional couple, they can easily bring home half a million $ combined every year! If they are in their late 40s and 50s, with passive incomes of $100k and more, that income could be above $600k easily.

Even though we are not a power couple, we are already having $550k combined yearly income (including our passive income), from which we save $400k+ a year.
What's the median salary?

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  #11274 (permalink)  
Old 16-10-2017, 09:22 PM
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What's the median salary?
The 90th percentile HOUSEHOLD income is only $12,773 in 2016. Doesn't jive with top 5% earning $250k per annum. Couldn't get the 95th percentile data.
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  #11275 (permalink)  
Old 16-10-2017, 10:49 PM
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The household income data you're quoting, assuming accurate, will include unemployed and untaxed workers (i.e. make too little to be taxed on their income). I'm unsure what their numbers are really like; but theoretically it's possible then for top 5% of taxpayers to be earning a lot more than the household income data indicates.

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The 90th percentile HOUSEHOLD income is only $12,773 in 2016. Doesn't jive with top 5% earning $250k per annum. Couldn't get the 95th percentile data.
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  #11276 (permalink)  
Old 17-10-2017, 01:45 PM
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You have made the right choice. You have effectively mitigated the risk of early, sudden death. I guess you know your body best. We need to listen to our bodies. All the wealth the the world will not be able to bring you back to life if you suddenly die.

Hope you get well soon and enjoy your early retirement!


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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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  #11277 (permalink)  
Old 20-10-2017, 07:21 PM
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Thanks for the well wishes. I'm enjoying my new life. Should have done this a long time ago. I realized I don't need so much wealth to be happy. I'm slowly getting better. Health and happiness are priceless. Wealth doesn't buy health and happiness.


Quote:
Originally Posted by Unregistered View Post
You have made the right choice. You have effectively mitigated the risk of early, sudden death. I guess you know your body best. We need to listen to our bodies. All the wealth the the world will not be able to bring you back to life if you suddenly die.

Hope you get well soon and enjoy your early retirement!
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  #11278 (permalink)  
Old 20-10-2017, 11:23 PM
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Thanks for the well wishes. I'm enjoying my new life. Should have done this a long time ago. I realized I don't need so much wealth to be happy. I'm slowly getting better. Health and happiness are priceless. Wealth doesn't buy health and happiness.
Well said. If I may ask, what is the number of members in your household and what is your average household expenditure per month? Although our lifestyle and circumstances may differ, that would be useful reference for me to accelerate my decision to quit the rat race.
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  #11279 (permalink)  
Old 24-10-2017, 02:04 PM
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30 this year
Salary 5k per month basic (Comm basis)
Saving 45k cash
Cpf 18k oa
Low cpf due to recent purchase ec with Wife
Which used up almost 100kcpf
Ec loan 600k plus
Car - Altis on loan , outstanding 60k plus . Coe end 2025

Am I doing fine ? Working hard to save more
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  #11280 (permalink)  
Old 24-10-2017, 02:24 PM
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Originally Posted by Unregistered View Post
30 this year
Salary 5k per month basic (Comm basis)
Saving 45k cash
Cpf 18k oa
Low cpf due to recent purchase ec with Wife
Which used up almost 100kcpf
Ec loan 600k plus
Car - Altis on loan , outstanding 60k plus . Coe end 2025

Am I doing fine ? Working hard to save more
Add on annual income 110k
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