So explain to us how does the political party of Singapore prevent a mnc like Deutsche bank (to whom we all know is facing structural issues) from making people redundant?
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Exactly right on the spot!
Stupidity is is doing the same thing over and over again and expecting a different result. You like to blame the current political party on whatever issue over and over again. That reflect how stupid are you and expecting a different result if it is another political party. Do you mean another political party can prevent DB from restructuring? Quote:
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Lets get back to talking salary again
This forum was started in Feb 2010 by Avatar to share and discuss annual incomes. Lets see how our incomes have changed over the 9+ years.
In 2010, my annual income was $127,000. Last year (2018) it went up to $256,000. A combination of pay adjustments against inflation and promotions. New (good class honors) graduates joining my company used to get $3,000 per month, now new graduates are getting $5,000 per month. At the end of the day, how much you earn is only 1 aspect, another important aspect is how much you can save from what you earn. In 2010, I was saving about 25% of my annual salary, now with both my kids having completed their uni studies, home loan paid off, no car loan, no maid, I was able to save 75% of my 2018 income. If you are able to save 100% of your salary, you have reached financial independence! |
Well done!
I guess you are referring that you are able to save 75% income due to lower expenses and your passive income is covering 75% of your expenses. So if your passive income can cover the remaining 25%, you would be reaching FI! Quote:
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Banks and financial institutions like to benchmark retirement $ needs against our last drawn income. That's BS. Keep your expenses low and you will be financially independent. A consumption mindset and lifestyle doesn't givve ppl fulfillment, we are too influenced by marketing. "The way to be rich is not to spend money. Those who spend like they are rich are likely not rich at all" |
Suggestion
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On average, you would enjoy almost 10% salary increase compounded every year. That is very rare for most people. My average over 6 years was a meagre 2% increase to adjust for inflation. I have to move to another firm to get the jump I needed (not to expectation). You are a lucky man. |
quick summary of my background.
acct & finance grad from UK 10 years work exp. started in finance. then to consulting. currently in tech. base comp. 480k bonus. 100-200k equity options. 1.5m - 2m depending on share price. |
just crossed 2.5yrs in banking (risk function).
currently at base of 70k with avg bonus of 13-15k. trying to reach base of 96k (8k monthly) by 5yr mark...long ways to go! |
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