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How much are you earning per annum?

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  #11671 (permalink)  
Old 13-05-2019, 04:07 PM
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Five years should be enough to increase by $1M and retire

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I am envious. am 41 now and nowhere close to what you are doing.
savings, shares and cpf of 1.6m when combined with wife
no debts, has a hdb, car, 2 daughters
how many more years do u think i need to slog if my cash increases 200k per year?

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  #11672 (permalink)  
Old 16-05-2019, 02:13 PM
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Private equity

Current fiscal year: $110,000+0% bonus
Next fiscal year: $110,000 + 125% bonus

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  #11673 (permalink)  
Old 17-05-2019, 01:26 PM
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Private equity

Current fiscal year: $110,000+0% bonus
Next fiscal year: $110,000 + 125% bonus
Oh man, how are the work hours there?

SWE here working for a typical tech firm getting 9500/month with a modest small amount of bonus each year, but working ~30 hours a week after taking out all the random games and stuff we do, working out during office hours, and working from home, idk if i want to jump to the finance industry if that's what PE gets.

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  #11674 (permalink)  
Old 17-05-2019, 02:49 PM
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Private equity

Current fiscal year: $110,000+0% bonus
Next fiscal year: $110,000 + 125% bonus
which level? assoc? any carry?
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  #11675 (permalink)  
Old 18-05-2019, 08:48 PM
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My wife and I hope to retire when we reach 55 years old. We have been studying and working hard all our life and want to retire very soon to enjoy a more relaxed life. We have paid up our mortgage and we are debt free! We will retire in KL, where we can enjoy city living at a low cost. We have family ties and friends there. We will retire with the income we get from our property which we will rent out plus some dividend income from stocks. Our passive income will be about S$3,000 pm.

If we retire in Malaysia our passive income will be RM9,000 pm. This will enable us to rent a condo in KL for about RM1,500 pm. Our food, car and other expenses will be about RM5,000 pm. So, in total our expenses will be RM6,500 pm. We can still save RM2,500 pm. This is on top our cash savings of S$100,000.

When we reach 65, we will receive a payout of S$4,000 pm (RM12,000) from CPF Life which we will use to travel the world and rent a more expensive, upscale condo in KL. Our passive income at 65 will be S$7,000 pm (RM21,000 pm). We will be rich foreign retirees in KL, where we will live in a posh condo and drive a posh sports car. Life will be wonderful. Our children can visit us twice a year during the holidays.
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  #11676 (permalink)  
Old 20-05-2019, 01:20 AM
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I make about SGD 700K p.a. My wife works part time to pass her time now that all our kids are in Uni. She brings home around SGD 3-7k monthly.

While I would love to work as long as I can, the reality is that I will most likely be forced into early retirement soon. It gets lonely as most of my peers & friends have either already retired or have been made redundant. If I do get made redundant, my payout will be about SGD 900k net of tax. On top of this I get a pension for the years of service rendered. This would be about SGD 1.6 mln gross of tax. I will lose a substantial amount of the above should I resign instead. That being said, I would not be badly off as I still have about SGD 1.3-1.4 mln in cash, stocks and CPF. My portfolio would have been bigger but I made huge losses in the stock market before. I wasn't able monitor them closely as I should. I was always on the road for work.

Most of you in this forum will probaly be envious of my status but I don't find myself lucky at all. The truth is I am now living in an empty nest. I live in a big house but I normally only use the study room and the bedroom. Except for my maid, no one is in. My wife goes on holidays with her friends pretty often and she travels a fair bit for her new "part time" job. She gave up climbing the corporate ladder in banking to take care of my kids, while I chose to climb that ladder instead. As our kids are no longer teens, she sees this as her second chance at a professional career once more.

My kids are in top unis overseas and their future careers are more or less cast in stone. Through years of "hot housing" on my part, they have done very well academically and also excelled in both sports + arts (ie. they're not geeks). Unfortunately for me, they see themselves as "World Citizens" as they've lived a quasi "diplomat" type lifestyle in different countries growing up while I was born literally in a Malay kampung during the race riots and was raised in the HDB heartlands. Singapore will always be my hom but my kids will most likely hone their careers in London, Tokyo, HK, New York etc. Sigh!!!!

My advice to many of you here, don't get too hung up with how much you earn or how much you will have for retirement. Even if you have money and time, retirement will be a pain if....

a) You don't have your family or kids around.
(Having friends help but in the end family matters most)

b) You dont have your health
. (Many colleagues I know, actually pass away a few years into their retirement)

c) You've lost your purpose
(My kids were always my priority. I read to them, taught them maths, physics, anything I am familar with. We discussed politics, foreign affairs, religion and I even coached them in sports,..rugby, martial arts, shooting, running, climbing. My life really revolved around my kids afterwhich it will revolve around my job. So, I really dont know "What's next?")

In hindsight, as I read what I wrote above, I must admit that I have been the prodigal son. I left home straight after graduation, travelling all over, seduced with the thrill of cutting deals and managing huge capital investments. To Mom and Dad, should you stumble onto this forum, I am sorry. I should have returned home more often. I now know how you must have felt.
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  #11677 (permalink)  
Old 21-05-2019, 09:07 PM
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Quote:
Originally Posted by Unregistered View Post
My wife and I hope to retire when we reach 55 years old. We have been studying and working hard all our life and want to retire very soon to enjoy a more relaxed life. We have paid up our mortgage and we are debt free! We will retire in KL, where we can enjoy city living at a low cost. We have family ties and friends there. We will retire with the income we get from our property which we will rent out plus some dividend income from stocks. Our passive income will be about S$3,000 pm.

If we retire in Malaysia our passive income will be RM9,000 pm. This will enable us to rent a condo in KL for about RM1,500 pm. Our food, car and other expenses will be about RM5,000 pm. So, in total our expenses will be RM6,500 pm. We can still save RM2,500 pm. This is on top our cash savings of S$100,000.

When we reach 65, we will receive a payout of S$4,000 pm (RM12,000) from CPF Life which we will use to travel the world and rent a more expensive, upscale condo in KL. Our passive income at 65 will be S$7,000 pm (RM21,000 pm). We will be rich foreign retirees in KL, where we will live in a posh condo and drive a posh sports car. Life will be wonderful. Our children can visit us twice a year during the holidays.

RM9k pm in KL for a retired couple is more than enough. You are considered quite wealthy by local standards if you earn a passive income of that amount. You can rent a more luxurious condo. KL is quite popular for tourists. Friendly locals and good food. So, you don't need to have millions in the bank to retire well. Just need an open mind.
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  #11678 (permalink)  
Old 22-05-2019, 06:01 PM
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Quote:
Originally Posted by Unregistered View Post
Private equity

Current fiscal year: $110,000+0% bonus
Next fiscal year: $110,000 + 125% bonus
0 bonus...are you sure you're not about to get fired?
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  #11679 (permalink)  
Old 24-05-2019, 12:37 PM
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Smile

Quote:
Originally Posted by Unregistered View Post
I make about SGD 700K p.a. My wife works part time to pass her time now that all our kids are in Uni. She brings home around SGD 3-7k monthly.

While I would love to work as long as I can, the reality is that I will most likely be forced into early retirement soon. It gets lonely as most of my peers & friends have either already retired or have been made redundant. If I do get made redundant, my payout will be about SGD 900k net of tax. On top of this I get a pension for the years of service rendered. This would be about SGD 1.6 mln gross of tax. I will lose a substantial amount of the above should I resign instead. That being said, I would not be badly off as I still have about SGD 1.3-1.4 mln in cash, stocks and CPF. My portfolio would have been bigger but I made huge losses in the stock market before. I wasn't able monitor them closely as I should. I was always on the road for work.

Most of you in this forum will probaly be envious of my status but I don't find myself lucky at all. The truth is I am now living in an empty nest. I live in a big house but I normally only use the study room and the bedroom. Except for my maid, no one is in. My wife goes on holidays with her friends pretty often and she travels a fair bit for her new "part time" job. She gave up climbing the corporate ladder in banking to take care of my kids, while I chose to climb that ladder instead. As our kids are no longer teens, she sees this as her second chance at a professional career once more.

My kids are in top unis overseas and their future careers are more or less cast in stone. Through years of "hot housing" on my part, they have done very well academically and also excelled in both sports + arts (ie. they're not geeks). Unfortunately for me, they see themselves as "World Citizens" as they've lived a quasi "diplomat" type lifestyle in different countries growing up while I was born literally in a Malay kampung during the race riots and was raised in the HDB heartlands. Singapore will always be my hom but my kids will most likely hone their careers in London, Tokyo, HK, New York etc. Sigh!!!!

My advice to many of you here, don't get too hung up with how much you earn or how much you will have for retirement. Even if you have money and time, retirement will be a pain if....

a) You don't have your family or kids around.
(Having friends help but in the end family matters most)

b) You dont have your health
. (Many colleagues I know, actually pass away a few years into their retirement)

c) You've lost your purpose
(My kids were always my priority. I read to them, taught them maths, physics, anything I am familar with. We discussed politics, foreign affairs, religion and I even coached them in sports,..rugby, martial arts, shooting, running, climbing. My life really revolved around my kids afterwhich it will revolve around my job. So, I really dont know "What's next?")

In hindsight, as I read what I wrote above, I must admit that I have been the prodigal son. I left home straight after graduation, travelling all over, seduced with the thrill of cutting deals and managing huge capital investments. To Mom and Dad, should you stumble onto this forum, I am sorry. I should have returned home more often. I now know how you must have felt.
Wow well said. I totally feel you.
I grew up in that environment. My parents are always busy working, I spent my childhood with my sister, and my maid. It was very unfortunate.
Due to health issues, my mother passed away when I was 16. I've learnt the hard way that money isn't everything. In a glimpse, one can lose everything.

Actually you and your wife can retire and start travelling around the world together, and visit your children.
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  #11680 (permalink)  
Old 24-05-2019, 08:41 PM
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what grade do i need to be at in a ministry, to get 200k per annum? considering to see if i shd move from private to public. any hr folks?
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