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Sharing my info here:

Wife (me): 38 yo, 500k, tech
Husband: 38 yo, 250k, tech

1 helper with 1 kid

Own stay property 1.6m
Investment property 2.1m
Savings 1m
CPF 300k

Target to retire at 50

Quote:

Originally Posted by Unregistered (Post 227930)

Sharing my info here:

Wife (me): 38 yo, 500k, tech
Husband: 38 yo, 250k, tech

1 helper with 1 kid

Own stay property 1.6m
Investment property 2.1m
Savings 1m
CPF 300k

Target to retire at 50

Good to see someone doing well. Keep it up

46 yo current career in banking, $400K basic plus variable.

My with is a SAHM.

Aside from work income, we have 2 freehold properties with gross value $5M which should have capital appreciation of 4% annually, plus another $1M in cash investments.

I plan to retire from full time employment at 55 yo.

Quant trading

25YO

A little over 450k for last year

25 yo

Software / Data Engineer

Total Comp ~80k+

0 YOE

40 (me) 180k pa
35 (spouse) 200k pa

1 5rm hdb, 1 4rm condo.
1 car
3 kids

Cpf max out SA already.
cash and investment > 300k

Not sure if can retire at 60..

According to PSD, ministers salary is pegged to the top 1000 earners in the private sectors :

Quote:

The top 1,000 Singapore citizen income earners would include the following:

Senior management positions including Chief Executive Officers, Chief Operating Officers, Chief Financial Officers, Chief Information Officers, Presidents, Chairmen, Directors, General Managers from a range of industries;
Representatives from the financial services including bankers, asset managers, traders, Managing Directors, Senior Vice Presidents; and
Professionals including lawyers, accountants, doctors, engineers

Quote:

A Minister may start at the lower end of the MR4 range with a monthly salary of $46,750. This works out to an annual salary of $935,000, of which $607,750 is fixed and the rest is variable.

Since MR4 payscale is pegged at 60% of the top 1000 earners, that means those folks are earning about $1.5M a year.

In Civil Service, the next level below the Minister, i.e. the Perm Sec usually holds the role equivalent to a CEO of a large corporation. I know for a fact that one MMC pays their C-suite about $350K per annum.

So I guess there are either lots of C-suite or o Big Cannon Fairies around.
[Quote]
Source:
s://.psd.gov.sg/faq#:~:text=The%20fixed%20salary%20is%20%24715%2C0 00,socio%2Deconomic%20outcomes%20of%20Singaporeans .
s://.nas.gov.sg/archivesonline/data/pdfdoc/2000062907.htm
[Quote]

Me & wife both age 51, with 2 children local uni
Last year filed income tax $700k

Owns 2 private property
Paid up $1.5mil
50% mortgaged $2.5mil

Total CPF $2mil
Total stocks- cash & SRS $1.3mil

Target to retire at 55

Quote:

Originally Posted by Unregistered (Post 228169)

I know for a fact that one MMC pays their C-suite about $350K per annum.

So I guess there are either lots of C-suite or o Big Cannon Fairies around.

$350K is lower than A LOT of individual contributors like lawyers, hedge fund traders, investment bankers and even software engineers (those in Meta and Google).

There was an eye surgeon MP who said:

"If the annual salary of the Minister of Information, Communication and Arts is only $500,000, it may pose some problems when he discuss policies with media CEOs who earn millions of dollars because they need not listen to the minister's ideas and proposals. Hence, a reasonable payout will help to maintain a bit of dignity."

So the CEO you cited doesn't have much dignity.

Glad that the top 5% income earners are always in this thread giving valuable advice