How much are you earning per annum? - Page 1132 - 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
  #11311 (permalink)  
Old 08-11-2017, 08:35 PM
Unregistered
Guest
 
Posts: n/a
Default

Stocks and a portfolio of relatively stable income investments

Quote:
Originally Posted by Unregistered View Post
Inspiring!!

May I know what do you invest to secure a passive income of $48K/yr?

On rental income, shares dividend, UT, bonds, SN, SD, annuity, insurance, etc?

I like to achieve the same amount of passive income. Currently vested on SN, UT and shares, annuity. My passive income is in the range of $32K.

I guess you need to have at least around $2M to achieve such passive income.

Thanks

Reply With Quote
  #11312 (permalink)  
Old 09-11-2017, 10:30 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
I will be retiring next year at 65. Prudent savings has build up a good nest egg. Based on conservative 3% returns I will be able to draw about 10k/month out of my funds over the next 30 years. 95 is a old age for planning but if I leave early the balance can be given to my kids.

Building nest egg is most important and many young people don't do this. I blame it on the new millenia "YOLO" culture, they only know to spend money when they get money and don't save for the future.

I am looking forward to enjoying my retirement with 10k/month. My monthly cash flow will be higher than 70% of Singaporeans, in fact it is even more than the monthly salary of my 2 kids who are only making 8k as professionals in their early 30s. I will not set aside any special money for them when I pass on as they are responsible for building up their own nest eggs.
This is exactly the type of prudent retirement planning that I aspire. Your income generating assets should be worth around S$4m, which is respectable. Enjoy your well deserved retirement!

Reply With Quote
  #11313 (permalink)  
Old 10-11-2017, 12:21 AM
Unregistered
Guest
 
Posts: n/a
Default

Actually if you are retiring at 65, you and wife can choose the CPF Life Enhanced which will give you and wife $4k pm in total. Assuming you are debt free and your home is paid up, $4k pm should suffice for food, utilities, public transport, medical, etc.

If you're retiring earlier at 55, you must be a high flyer who have assets that can produce at least $5k pm for you and wife. This also assumes you're debt free by 55.

Reply With Quote
  #11314 (permalink)  
Old 10-11-2017, 03:44 PM
Unregistered
Guest
 
Posts: n/a
Default

I agree. We can also monetize our HDB flats when we retire by renting out spare rooms to FTs. So we must attract more FTs to work here so that they can rent our spare rooms. Must also not have oversupply of properties. If we have oversupply of properties, property prices and rents will crash and our spare rooms will be empty. Many old people will worry as they cannot earn from renting their spare rooms. Our HDB flat is an important retirement asset.

Quote:
Originally Posted by Unregistered View Post
Actually if you are retiring at 65, you and wife can choose the CPF Life Enhanced which will give you and wife $4k pm in total. Assuming you are debt free and your home is paid up, $4k pm should suffice for food, utilities, public transport, medical, etc.

If you're retiring earlier at 55, you must be a high flyer who have assets that can produce at least $5k pm for you and wife. This also assumes you're debt free by 55.
Reply With Quote
  #11315 (permalink)  
Old 10-11-2017, 11:35 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Actually if you are retiring at 65, you and wife can choose the CPF Life Enhanced which will give you and wife $4k pm in total. Assuming you are debt free and your home is paid up, $4k pm should suffice for food, utilities, public transport, medical, etc.

If you're retiring earlier at 55, you must be a high flyer who have assets that can produce at least $5k pm for you and wife. This also assumes you're debt free by 55.
It's good to work if you can. Idle mind is the devil's workshop. One way is to take up flexi working schedule such as 1 3 5 only.
Reply With Quote
  #11316 (permalink)  
Old 11-11-2017, 08:03 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
It's good to work if you can. Idle mind is the devil's workshop. One way is to take up flexi working schedule such as 1 3 5 only.
Naive, foolish, sweeping comment. On the contrary, devils are actively working in the minds of lusty, greedy fools who lust for money, power, higher positions on the corporate ladder. Just look at their evil office politics, slandering, back stabbing, cheating, lying, etc just to move up.

You can retire from the corporate world and more into the world of volunteerism. You will be actively helping those in need. This is more meaningful than trying to earn more and more money. Don't be a lustful, greedy fool.
Reply With Quote

  #11317 (permalink)  
Old 11-11-2017, 10:39 PM
Unregistered
Guest
 
Posts: n/a
Default Time diminishes value of money

I remember quite clearly almost 35 years ago, when I was still an undergrad, people were aiming to save $1,000,000 and then they will retire. In 1982, $1,000,000 was a princely sum. Very few people had that kind of money. And why not, fresh graduates then were only earning $1,300 to $1,600 a month or thereabout.

Now, in 2017, when you tell people you aim to retire with $1,000,000 you risked being laughed at and ridiculed. And rightly so. Even with a very basic lifestyle of just $3,000 a month or $36,000 a year, with 3% inflation, your $1,000,000 will only last 25 years. And that $1,000,000 better not include the value of your property!

Nowadays, 35 years later, I am hearing more and more people aiming for above $3,000,000 (not including their property) before they are confident of a good and worry free retirement while living a $7,000 a month lifestyle.

With $3,000,000 invested at a conservative 4% return, that would provide $120,000 pa. And with 3% inflation, and a $7,000 a month lifestyle, the $3,000,000 will last about 35 years!

It is understandable why people want to build up more wealth before they consider retirement. Its about wanting a worry free retirement where you should living life and not having to count every cent you spent, and getting stressed and being jealous about others.
Reply With Quote
  #11318 (permalink)  
Old 11-11-2017, 11:21 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
I remember quite clearly almost 35 years ago, when I was still an undergrad, people were aiming to save $1,000,000 and then they will retire. In 1982, $1,000,000 was a princely sum. Very few people had that kind of money. And why not, fresh graduates then were only earning $1,300 to $1,600 a month or thereabout.

Now, in 2017, when you tell people you aim to retire with $1,000,000 you risked being laughed at and ridiculed. And rightly so. Even with a very basic lifestyle of just $3,000 a month or $36,000 a year, with 3% inflation, your $1,000,000 will only last 25 years. And that $1,000,000 better not include the value of your property!

Nowadays, 35 years later, I am hearing more and more people aiming for above $3,000,000 (not including their property) before they are confident of a good and worry free retirement while living a $7,000 a month lifestyle.

With $3,000,000 invested at a conservative 4% return, that would provide $120,000 pa. And with 3% inflation, and a $7,000 a month lifestyle, the $3,000,000 will last about 35 years!

It is understandable why people want to build up more wealth before they consider retirement. Its about wanting a worry free retirement where you should living life and not having to count every cent you spent, and getting stressed and being jealous about others.
But can you live that long after retirement? 3 mil?
Reply With Quote
  #11319 (permalink)  
Old 12-11-2017, 12:31 AM
Unregistered
Guest
 
Posts: n/a
Default That little extra $$ does not hurt

Its a fine line between greed and wanting a margin of safety.

I can understand people who want to have margin of safety in their lives, for eg. when they pick a stock, they would prefer to buy an undervalued stock as opposed to an overpriced one. For retirement planning, it is also prudent to plan with sufficient margin of safety. The variables that can affect your planning are:

1. Longevity- we really dont know how long we will live, so best to plan for worst case (100?)
2. Inflation - Singapore has ever experienced inflation at 6 to 8 % before, so it can happen again
3. Medical emergencies- this can happen anytime
4. Lifestyle inflation - sometimes we just have to keep up with the times. I used to use a 2G phone but now I cannot do without a smart phone. Correspondingly, my phone bill went up from $14 pm to $40 pm.
5. Unknown unknowns. Retirement is a long term affair. There is a lot of things that can crop up and screw up our best laid plans.

Many things in life we have no control over, but at the very least, we should prepare and build up sufficient funds and safety margins.

Dont be afraid of being accused of being greedy when you are just building a bigger safety margin for yourself and your family.

For eg, I estimated I will need $3,000,000 to sustain 35 years of retirement for two of us. When I plan, I will put in a 100% safety margin and aim for $6,000,000.

Too much!? If it can be done, and if it brings peace of mind for the rest of my life, why not. That little extra $$ wont hurt!
Reply With Quote
  #11320 (permalink)  
Old 12-11-2017, 02:30 PM
Unregistered
Guest
 
Posts: n/a
Default

Lust and greed knows no limit. Don't waste time arguing with such people.

If you need $6m to retire, then 99.9% of Singaporeans cannot retire. You fool.
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 25 23-04-2021 10:40 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
Career as Teacher ( 1 2 3... Last Page)
10,826 Replies, 6,664,100 Views
SIM-UOL fresh grad starting pay ( 1 2 3... Last Page)
6,922 Replies, 2,902,451 Views
UOB Management Associate Program ( 1 2 3... Last Page)
1,455 Replies, 784,254 Views
MAS for Mid Career Professionals ( 1 2 3... Last Page)
1,799 Replies, 1,043,521 Views
Nparks ( 1 2 3... Last Page)
39 Replies, 34,334 Views
MINDEF DXO (All FAQ on it) ( 1 2 3... Last Page)
5,828 Replies, 4,656,339 Views
ITE Polytechnic Scheme ( 1 2 3... Last Page)
309 Replies, 368,854 Views
Q: Big4 - Yearly salary increment ( 1 2 3... Last Page)
15,303 Replies, 4,982,403 Views
Civil Service Performance Bonus ( 1 2 3... Last Page)
5,338 Replies, 4,769,056 Views
Compare civil service salary ( 1 2 3... Last Page)
16,342 Replies, 12,453,800 Views
Civil Service Current Estimated... ( 1 2 3... Last Page)
169 Replies, 308,954 Views
LTA (Land Transport Authority) ( 1 2 3... Last Page)
678 Replies, 388,099 Views
Constituency Manager (People... ( 1 2 3... Last Page)
989 Replies, 813,805 Views
Julius Baer Graduate Program 2023 ( 1 2 3)
21 Replies, 14,771 Views
Roles in accenture singapore ( 1 2 3... Last Page)
7,385 Replies, 2,323,632 Views
Lawyer Salary ( 1 2 3... Last Page)
21,013 Replies, 10,328,301 Views
GovTech ( 1 2 3... Last Page)
5,159 Replies, 2,162,849 Views
HTX (Home Team Science and... ( 1 2 3... Last Page)
752 Replies, 358,200 Views
Shopee fresh grad pay ( 1 2 3... Last Page)
1,049 Replies, 440,451 Views
DSTA (under Mindef) ( 1 2 3... Last Page)
1,464 Replies, 1,375,024 Views
ST Electronics ( 1 2 3... Last Page)
3,767 Replies, 1,544,282 Views
IMDA (under MCI) ( 1 2 3... Last Page)
1,260 Replies, 613,443 Views
Civil Svc/ Statboard - Typical... ( 1 2 3... Last Page)
6,123 Replies, 3,738,295 Views
MX12 reappointed at MX11
8 Replies, 788 Views
Hospital (Private or Public)... ( 1 2 3... Last Page)
749 Replies, 405,303 Views
NCS (SingTel subsidiary) ( 1 2 3... Last Page)
1,329 Replies, 1,141,954 Views
MFA- Foreign Service... ( 1 2 3... Last Page)
54 Replies, 84,945 Views
Cybersecurity/Info security career ( 1 2 3... Last Page)
511 Replies, 268,496 Views
Visa Graduate Development Program ( 1 2 3... Last Page)
206 Replies, 134,471 Views
Singapore Airlines ( 1 2 3)
22 Replies, 11,272 Views
Powered by vBadvanced CMPS v3.2.2



All times are GMT +8. The time now is 11:07 PM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2024, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.3.2