How much are you earning per annum? - Page 1346 - Salary.sg Forums
Salary.sg Forums  

Go Back   Salary.sg Forums > The Salary.sg Discussion Forums: > Income and Jobs

Income and Jobs Discuss jobs, career options and of course salaries




How much are you earning per annum?

Reply
 
Thread Tools
  #13451 (permalink)  
Old 29-11-2022, 01:32 PM
Unregistered
Guest
 
Posts: n/a
Default

Hereís my retirement plan when I reach 55 in a couple of years. My net worth is tied to my condo (fully paid up) and CPF. No other investment.

First, I can sell my condo for $1.1 mil
Second, buy a 4 room HDB flat for $450k
Get cash $650k. Put in fixed deposits to get $20k pa in interest

I will spend $3k pm ($36k pa) in retirement from age 55 to 65, total $360k over 10 years. Income from interest and drawdown from fixed deposits account.

At 65, I will collect $2.5k pm ($30k pa) from my CPF Life. My CPF OA is about $200k, can generate cash of $5k pa. Fixed deposits $10k pa. Passive income $45k pa. This is more than enough for food, utilities, health care and public transport for one retired person.

Reply With Quote
  #13452 (permalink)  
Old 29-11-2022, 03:35 PM
Unregistered
Guest
 
Posts: n/a
Default

34M 230k pa double role in fintech

Reply With Quote
  #13453 (permalink)  
Old 29-11-2022, 05:14 PM
Unregistered
Guest
 
Posts: n/a
Default

32M...

Left my 7k/mth job at 28 to pursue private tuition. I was in STEM.


I teach primary , secondary , JC math/physics/chemistry in huge groups. ( I have over 200 students at the moment...) Free rental room from a friend staying in landed. (other than treating him good dinner)

I teach part time at poly, 2 times a week in the morning since all the kids in school.

Monthly ranging from 35k to 50k after CPF. CPF contribution little for me cos I collect hard cash or paylah/paynow from parents/kids.


Planning to hire some good part time tutors to conduct classes for me. I wrote my own notes, questions I modified from online/assessment books, and set my own papers. Very tiring for me. Every weekend sat/sun just burn like that. Teach from morning 8am to at night 10pm.

Reply With Quote
  #13454 (permalink)  
Old 30-11-2022, 09:43 AM
Unregistered
Guest
 
Posts: n/a
Default

Excellent retirement plan. This shows you donít need to have multi million dollars in the bank to retire. No need to work so hard until health is affected. High risk of dying early. So donít be stupid. Lead a simple, relaxed life. To retire well, we donít need a big expensive house or a million dollar sports car. Just need a small HDB flat and travel by bus. Not much worries. Men are addicted to riches. Only the wise knows when to stop.

Quote:
Originally Posted by Unregistered View Post
Hereís my retirement plan when I reach 55 in a couple of years. My net worth is tied to my condo (fully paid up) and CPF. No other investment.

First, I can sell my condo for $1.1 mil
Second, buy a 4 room HDB flat for $450k
Get cash $650k. Put in fixed deposits to get $20k pa in interest

I will spend $3k pm ($36k pa) in retirement from age 55 to 65, total $360k over 10 years. Income from interest and drawdown from fixed deposits account.

At 65, I will collect $2.5k pm ($30k pa) from my CPF Life. My CPF OA is about $200k, can generate cash of $5k pa. Fixed deposits $10k pa. Passive income $45k pa. This is more than enough for food, utilities, health care and public transport for one retired person.
Reply With Quote
  #13455 (permalink)  
Old 02-12-2022, 09:38 AM
Unregistered
Guest
 
Posts: n/a
Default

Thanks for sharing. You gave me a good idea to retire too.
I can sell my 5 room unit for $300k and then I can buy a 2 room unit for $200k.
I will then have $300k cash which I can spend for my retirement for 10 years. I also will get CPF Life about $1500 pm from 65 years onwards.


Quote:
Originally Posted by Unregistered View Post
Hereís my retirement plan when I reach 55 in a couple of years. My net worth is tied to my condo (fully paid up) and CPF. No other investment.

First, I can sell my condo for $1.1 mil
Second, buy a 4 room HDB flat for $450k
Get cash $650k. Put in fixed deposits to get $20k pa in interest

I will spend $3k pm ($36k pa) in retirement from age 55 to 65, total $360k over 10 years. Income from interest and drawdown from fixed deposits account.

At 65, I will collect $2.5k pm ($30k pa) from my CPF Life. My CPF OA is about $200k, can generate cash of $5k pa. Fixed deposits $10k pa. Passive income $45k pa. This is more than enough for food, utilities, health care and public transport for one retired person.
Reply With Quote
  #13456 (permalink)  
Old 02-12-2022, 06:36 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Hereís my retirement plan when I reach 55 in a couple of years. My net worth is tied to my condo (fully paid up) and CPF. No other investment.

First, I can sell my condo for $1.1 mil
Second, buy a 4 room HDB flat for $450k
Get cash $650k. Put in fixed deposits to get $20k pa in interest

I will spend $3k pm ($36k pa) in retirement from age 55 to 65, total $360k over 10 years. Income from interest and drawdown from fixed deposits account.

At 65, I will collect $2.5k pm ($30k pa) from my CPF Life. My CPF OA is about $200k, can generate cash of $5k pa. Fixed deposits $10k pa. Passive income $45k pa. This is more than enough for food, utilities, health care and public transport for one retired person.
2.5kpm? That's a peasant's life.
Reply With Quote

  #13457 (permalink)  
Old 02-12-2022, 06:40 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Hereís my retirement plan when I reach 55 in a couple of years. My net worth is tied to my condo (fully paid up) and CPF. No other investment.

First, I can sell my condo for $1.1 mil
Second, buy a 4 room HDB flat for $450k
Get cash $650k. Put in fixed deposits to get $20k pa in interest

I will spend $3k pm ($36k pa) in retirement from age 55 to 65, total $360k over 10 years. Income from interest and drawdown from fixed deposits account.

At 65, I will collect $2.5k pm ($30k pa) from my CPF Life. My CPF OA is about $200k, can generate cash of $5k pa. Fixed deposits $10k pa. Passive income $45k pa. This is more than enough for food, utilities, health care and public transport for one retired person.
Why did you tie up your capital in a 1.1mil condo when you could've bought a more modest HDB to begin with and invested your cash in equities? You would've had over $2mil in retirement funds by now.
Reply With Quote
  #13458 (permalink)  
Old 02-12-2022, 09:25 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Why did you tie up your capital in a 1.1mil condo when you could've bought a more modest HDB to begin with and invested your cash in equities? You would've had over $2mil in retirement funds by now.
Maybe he had kids earlier and theyíve moved out by now so can downsize?
Reply With Quote
  #13459 (permalink)  
Old 06-12-2022, 05:41 PM
Unregistered
Guest
 
Posts: n/a
Default

48 M
Iím thinking of retiring in JB next year.
Rent out my fully paid flat for S$3.5k pm.
This gives me passive income of RM11k pm.
Can live a comfortable life in JB for RM6k pm.
Can rent a condo there for RM2k pm.
Food and other expenses RM4k pm.
Save RM5k pm.
What do you think?
Reply With Quote
  #13460 (permalink)  
Old 06-12-2022, 06:46 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
48 M
Iím thinking of retiring in JB next year.
Rent out my fully paid flat for S$3.5k pm.
This gives me passive income of RM11k pm.
Can live a comfortable life in JB for RM6k pm.
Can rent a condo there for RM2k pm.
Food and other expenses RM4k pm.
Save RM5k pm.
What do you think?
Awesome plans. Great strategies. Looking good, solid and smart. Keep us all posted on your retirement progress with any new retirement plans or goals. Show us what you got man. Wanna see how freaking retired, happy and chill you can get. Thanks for the motivation.
Reply With Quote
Reply

Bookmarks

Tags
bond, bond breaking, income pa, lawyer, saf

« Previous Thread | Next Thread »
Thread Tools

Posting Rules
You may not post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are On
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Industries with Highest Proportion Earning 5-Figure Monthly Income Salary.sg Income and Jobs 25 23-04-2021 10:40 PM
Lawyer earning $25k/mth forged $65k payslip to get job Salary.sg Income and Jobs 2 30-12-2011 02:42 PM

» 30 Recent Threads
Working in NEA ( 1 2 3... Last Page)
94 Replies, 117,252 Views
Lawyer Salary ( 1 2 3... Last Page)
18,850 Replies, 7,982,870 Views
GovTech ( 1 2 3... Last Page)
3,522 Replies, 1,206,060 Views
Civil Svc/ Statboard - Typical... ( 1 2 3... Last Page)
5,032 Replies, 2,798,144 Views
How much are you earning per annum? ( 1 2 3... Last Page)
13,563 Replies, 5,661,001 Views
UOB Management Associate Program ( 1 2 3... Last Page)
1,055 Replies, 539,458 Views
ST Electronics ( 1 2 3... Last Page)
3,251 Replies, 1,063,348 Views
Career as Teacher ( 1 2 3... Last Page)
7,051 Replies, 4,472,829 Views
DBS tech seed programme ( 1 2 3... Last Page)
2,828 Replies, 923,721 Views
MOH Holdings ( 1 2)
13 Replies, 13,911 Views
Digital Academy Program at ST...
2 Replies, 149 Views
Roles in accenture singapore ( 1 2 3... Last Page)
5,672 Replies, 1,417,643 Views
ST engineering starting pay ( 1 2 3... Last Page)
118 Replies, 83,728 Views
Compare civil service salary ( 1 2 3... Last Page)
15,142 Replies, 10,306,741 Views
Compare Your Annual Income ( 1 2 3... Last Page)
35 Replies, 10,481 Views
DSTA (under Mindef) ( 1 2 3... Last Page)
1,264 Replies, 1,027,108 Views
SIA AO grades ( 1 2 3... Last Page)
111 Replies, 54,173 Views
MINDEF DXO (All FAQ on it) ( 1 2 3... Last Page)
5,038 Replies, 3,608,430 Views
DBS ACE Programme ( 1 2 3... Last Page)
79 Replies, 24,689 Views
Singtel Management Associate... ( 1 2 3... Last Page)
1,184 Replies, 409,760 Views
IMDA (under MCI) ( 1 2 3... Last Page)
475 Replies, 232,230 Views
BCA (Building and Construction...
1 Replies, 176 Views
MOH (Ministry of Health) ( 1 2 3... Last Page)
33 Replies, 43,863 Views
Micron starting pay ( 1 2 3... Last Page)
663 Replies, 272,855 Views
How much CPF do u have? ( 1 2 3... Last Page)
66 Replies, 37,777 Views
Singapore Power EDGE Program ( 1 2 3... Last Page)
30 Replies, 7,438 Views
NCS (SingTel subsidiary) ( 1 2 3... Last Page)
1,127 Replies, 802,499 Views
Shopee fresh grad pay ( 1 2 3... Last Page)
884 Replies, 272,184 Views
Singapore Examination and...
2 Replies, 4,214 Views
Powered by vBadvanced CMPS v3.2.2



All times are GMT +8. The time now is 09:22 PM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2023, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.3.2