How much are you earning per annum?

My career was really stagnant in my early 30s. I was in the public sector then but just a lowly division 1 officer. Left for private sector in the late 30s.

The junior guys (late 20s early 30s) that was grooming the last few years made more money at that age than me.

I am happy for them but felt that my early years was wasted. Sure, you can call that "gaining experience" and I was honestly glad to have the opportunities for interesting work from 34 onwards, but was really under paid.

Year Income (S$) Age
2007 $54,600.00 29
2008 $44,661.00 30
2009 $71,742.00 31
2010 $74,776.00 32
2011 $85,600.00 33
2012 $86,214.00 34
2013 $92,736.00 35
2014 $104,696.00 36
2015 $104,513.00 37
2016 $117,227.00 38
2017 $155,365.00 39
2018 $175,476.00 40
2019 $206,140.00 41

Originally Posted by Unregistered

My career was really stagnant in my early 30s. I was in the public sector then but just a lowly division 1 officer. Left for private sector in the late 30s.

The junior guys (late 20s early 30s) that was grooming the last few years made more money at that age than me.

I am happy for them but felt that my early years was wasted. Sure, you can call that "gaining experience" and I was honestly glad to have the opportunities for interesting work from 34 onwards, but was really under paid.

Year Income (S$) Age
2007 $54,600.00 29
2008 $44,661.00 30
2009 $71,742.00 31
2010 $74,776.00 32
2011 $85,600.00 33
2012 $86,214.00 34
2013 $92,736.00 35
2014 $104,696.00 36
2015 $104,513.00 37
2016 $117,227.00 38
2017 $155,365.00 39
2018 $175,476.00 40
2019 $206,140.00 41

Nice work doubling your salary between 2015 and 2019!

Originally Posted by Unregistered

25, just graduated from NUS comp sci. Software engineer, all in 48k per annum. Is my salary ok?

it's very bad for a CS grad...

what happened? what company? you didn't push for FT conversion during ur intern?

Even the worse students can get at least 58-60k annual.... one prime example is DBS seed program, no experience, nothing, even noobs who can't tell the difference between C and C++ can get in...

not trying to bring you down but definitely keep looking even if you have a job alr. just try from the list of tech MNCs.

Originally Posted by Unregistered

As an average guy in an average MNC, don’t think I will reach 100k by 30 and 240k by 35…
Have a decent degreee and all but I guess nowhere near to all the high flyers.

I mean if you are happy being average, there’s no need to compare already.

It’s okay to be unambitious.

I am retiring next year. Settled all my debt. Living in a small apartment. Getting rid of the car since I don’t need it during retirement. My annual retirement expenses will be about $20k pa. I’m in my mid fifties. My cash savings of $300k will fund my retirement until 65. At 65, my CPF Life will fund my retirement for the rest of my life.

Originally Posted by Unregistered

I am retiring next year. Settled all my debt. Living in a small apartment. Getting rid of the car since I don’t need it during retirement. My annual retirement expenses will be about $20k pa. I’m in my mid fifties. My cash savings of $300k will fund my retirement until 65. At 65, my CPF Life will fund my retirement for the rest of my life.

Single with no children?

Originally Posted by Unregistered

I am retiring next year. Settled all my debt. Living in a small apartment. Getting rid of the car since I don’t need it during retirement. My annual retirement expenses will be about $20k pa. I’m in my mid fifties. My cash savings of $300k will fund my retirement until 65. At 65, my CPF Life will fund my retirement for the rest of my life.

300K cash savings, 20K PA? You need average returns of ~7% to fund and that's excluding inflation.

That aside 20K PA seems low for retirement, especially if unexpected expense come up. Are you well insured? That is the biggest risk as you age. At 1.5k per month, how much are you setting aside for insurance? It will not leave much for daily expenses.

Originally Posted by Unregistered

300K cash savings, 20K PA? You need average returns of ~7% to fund and that's excluding inflation.

That aside 20K PA seems low for retirement, especially if unexpected expense come up. Are you well insured? That is the biggest risk as you age. At 1.5k per month, how much are you setting aside for insurance? It will not leave much for daily expenses.

I don’t eat much. I eat twice per day.
Food $10 per day ($300 pm), insurance $400 pm, utilities $150 pm. No mortgage, no debt.
The rest are for my other miscellaneous expenses. I’m a simple guy who loves to be alone. I like to spend my time reading. My CPF Life will give me $2k pm, this is a lot for my simple lifestyle. I don’t go out and spend unnecessarily. $300k is more than I need to last for 10 years. If I really need the money, I can downgrade further. Buy the HDB studio unit for seniors.

Originally Posted by Unregistered

I don’t eat much. I eat twice per day.
Food $10 per day ($300 pm), insurance $400 pm, utilities $150 pm. No mortgage, no debt.
The rest are for my other miscellaneous expenses. I’m a simple guy who loves to be alone. I like to spend my time reading. My CPF Life will give me $2k pm, this is a lot for my simple lifestyle. I don’t go out and spend unnecessarily. $300k is more than I need to last for 10 years. If I really need the money, I can downgrade further. Buy the HDB studio unit for seniors.

Ok I’m not judging you but are you ok maintaining this for the rest of your natural lifespan?

Originally Posted by Unregistered

I don’t eat much. I eat twice per day.
Food $10 per day ($300 pm), insurance $400 pm, utilities $150 pm. No mortgage, no debt.
The rest are for my other miscellaneous expenses. I’m a simple guy who loves to be alone. I like to spend my time reading. My CPF Life will give me $2k pm, this is a lot for my simple lifestyle. I don’t go out and spend unnecessarily. $300k is more than I need to last for 10 years. If I really need the money, I can downgrade further. Buy the HDB studio unit for seniors.

$10 a day is quite a lot already. I keep it to $3 per meal, including drinks. Breakfast eat at home. But have to splurge on public transport to work. Haiz