How much are you earning per annum?

I am 30 years old, local poly diploma holder only. Have been a freelance personal trainer since I came out from NS. Based off 2017-2020 data, I’m pulling in an average of $60k/annum. Net worth is about $400k of which 80% are in individual stocks. Considering to put most funds into an all-world index fund to reduce volatility, don’t know if that will be a better idea. Do not own car or HDB flat. Given the career lifespan of a personal trainer, I am worried about retirement. Hoping to achieve $1m by 45-50 years old with a fully paid off 3-4RM HDB flat not costing more than $300-350k after grants. Don’t intend to retire fully and shake leg at home as I enjoy what I do, so will continue to take on some clients or work part time at a gym as semi-retiree. Just feeling anxious if I’ll get there.

Also considering whether I should take a degree to increase my future earnings potential and extending my career runway. I’m not the best at academics, and might not do as well as if like. So I’m thinking if this opportunity cost is one which is worth taking, especially with a drop in current earnings + school fees + starting as a fresh grad at 34-35. Do employers even look at resumes of those older fresh grad who has only freelanced (a lot of them don’t consider it as work experience or even a proper job). Got rejected by SIT and NTU in 2020 intake.

Originally Posted by Unregistered

100 hour work week bro

Should have studied com sci bro. Me and my SWE homies at citadel and hrt make >20k excluding bonus. 55-60 hrs per week. But IB ez af la, excel only. At hedge fund technology, we de eith cutting edge tech to improve latency etc

Originally Posted by Unregistered

Should have studied com sci bro. Me and my SWE homies at citadel and hrt make >20k excluding bonus. 55-60 hrs per week. But IB ez af la, excel only. At hedge fund technology, we de eith cutting edge tech to improve latency etc

Csb bro. Then why u here?

Originally Posted by Unregistered

Just turned 55. Decided to retire. I have $200k cash to spend over the next 10 years. My small flat is paid up. I’m a simple guy who just need $1.5k pm. When I reach 65, my CPF Life will pay me $2k pm. I’m tired of working so I decided to retire early. Actually not so early. I know people who retired earlier. I think there are high flyers in this forum who retired at 45.

You made the decision to retire at 55. There are people who died at 60 or even in their 50s. Cannot enjoy a single day of retirement. Since you’re are financially free since you no longer need a job to sustain yourself, then it is wise to retire since you can.

There are those who already have a lot but greedy. They suddenly died before 65.

Originally Posted by Unregistered

You made the decision to retire at 55. There are people who died at 60 or even in their 50s. Cannot enjoy a single day of retirement. Since you’re are financially free since you no longer need a job to sustain yourself, then it is wise to retire since you can.

There are those who already have a lot but greedy. They suddenly died before 65.

You should enjoy life everyday throughout your life la.
It's such an odd concept that you can onlh enjoy life after you retired.

When you are young and able bodied, you should do things.
Not wait until 60s then only enjoy life.

Weird concept.

Enjoy life don't need money.
Best things in life are free.
Those that you have to pay. You're funding the other person retirement...

Originally Posted by Unregistered

Some of the salaries here are so high that it seems really unbelievable.

I’m 27, Male, with 3 years work experience and drawing an annual package of about S$79K. Is this considered too little?

It all depends on what you want out of your life. If you have zero expectations, then 79K pa is not bad for somone your age. But if you want lots of things... then that sum won't last...

In my industry, 41 yr old with 9.5 yr exp and getting 77k pa.

Originally Posted by Unregistered

Just turned 55. Decided to retire. I have $200k cash to spend over the next 10 years. My small flat is paid up. I’m a simple guy who just need $1.5k pm. When I reach 65, my CPF Life will pay me $2k pm. I’m tired of working so I decided to retire early. Actually not so early. I know people who retired earlier. I think there are high flyers in this forum who retired at 45.

I’m the high flyer you talked about. Retired in my 40s to focus on family, health and charity. I’m not a greedy person, happy with my achievements, beyond my wildest dreams. My apartment is debt free, I still drive a luxury car and I enjoy travelling. You don’t need so much to be financially free. You also don’t need to leave behind so much wealth to your children. Let them work hard to build their own wealth.

Originally Posted by Unregistered

I’m the high flyer you talked about. Retired in my 40s to focus on family, health and charity. I’m not a greedy person, happy with my achievements, beyond my wildest dreams. My apartment is debt free, I still drive a luxury car and I enjoy travelling. You don’t need so much to be financially free. You also don’t need to leave behind so much wealth to your children. Let them work hard to build their own wealth.

My dad and I just bought a whole block of condo.
Intend to give each unit to our children and relatives

Originally Posted by Unregistered

It all depends on what you want out of your life. If you have zero expectations, then 79K pa is not bad for somone your age. But if you want lots of things... then that sum won't last...

In my industry, 41 yr old with 9.5 yr exp and getting 77k pa.

Yes, 79k pa is not bad at your age. You can earn a lot more, probably more than your Director. Onlyfans can easily generate 200k pa for you.

great to see many sharing their experience.
im in my early 30s, still single and bought a hdb jointly with one of my sibling. parents staying with us and do not have a house under their name... prefer not to share too much about it...
i currently earn about base annual 145k before any bonuses. even if there are, probably just 1 to 2.5mths on average. i save about 50% of my take home pay on average... and at times when im really giam i can save up to 70% of it. majority of my expenses come from supporting my parents medical expenses/ daily neccessities/ paying my maid- all these are shared with my other sibling. most of my makan r just at kopitiam n hawker, and ocasional indulgence at mcdonalds lol.
have also bought a brand new japanese car to ferry my folks around. even after factor in car costs i can still save within the range of 50-60% ( i spent 80% of my free time at home).

i have a really low risk appetite for invmt... chugged away a small portion of my savings in roboadvisors and plan to DCA into it for at least the next 5-10yrs.
i believe there is still plenty of room to grow my earning capability (in finance; non-FO) and also have plans to settle down in the coming yrs (hopefully can find the right one).

maybe its part of getting old recently im getting more worried about my retirement... the average retirement age in my line of work is abt 57... how do u all 'ration' yr monies post retirement? esp if u got insurance prem that wld last till around 75-80