How much are you earning per annum?

UOL 3rd class, driving Ferrari and owns multiple properties. Working as a Sales manager for big insurance company. Last year annual salary was $2m.

Originally Posted by Unregistered

UOL 3rd class, driving Ferrari and owns multiple properties. Working as a Sales manager for big insurance company. Last year annual salary was $2m.

wah, u are my idol.

Originally Posted by Unregistered

UOL 3rd class, driving Ferrari and owns multiple properties. Working as a Sales manager for big insurance company. Last year annual salary was $2m.

much wow very respek, you is my faborite idolt bro

Originally Posted by Unregistered

UOL 3rd class, driving Ferrari and owns multiple properties. Working as a Sales manager for big insurance company. Last year annual salary was $2m.

Still “salary”

No matter how big the pond, still just employee, fish stuck in pond.

Originally Posted by Unregistered

I have succeeded in life, have you?

You wrote a long ass post about your retirement on a anonymous forum.

Only thing you've succeeded in is being a retard.

We are both 53 yo, planning to retire at 55.
When we reach 55, we will get our CPF ($200k). We will also put money in CPF Life Enhanced Retirement Sum. We also have other sources of passive income. In total our passive income $70k pa from 65 yo onwards.

To fund our retirement from 55 yo to 65 yo, we need cash. We can sell our condo for $1.1 mil and buy a 4 room HDB flat ($500k), which will give us a net cash of $600k. Our CPF $200k. So we have cash $800k. We will need about $400k for the ten years ($40k pa).

Looking forward to retiring at 55. There is no need to work until 65 to 70 yo. Some people die in their 50s and 60s. There’s no guarantee we won’t be one of them. Work so hard and never get to enjoy retirement. So sad.

When we die we will leave behind for our children our HDB flat, cash, stocks and life insurance payout.

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

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.

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

When can a working married couple retire?

It depends on how much they need when they retire. If they eat at restaurants everyday, drive a luxury car, go expensive holidays, etc, they will need millions to sustain their retirement. However if they retire simply, they don’t need much.

Before they retire, they should clear their home mortgage. This is a big expense. Next, they need to get rid of their car.

Food and groceries for two persons costs $1000 pm
Utilities and wifi $300 pm
Medical insurance $1000 pm
Transport $200 pm
Holidays $200 pm
Miscellaneous $300 pm
Total $3000 pm

Total $36k per year

So if the couple has $400k cash, they can retire at 55 years old.

When they reach 65, their CPF Life will pay $4000 pm in total.

Originally Posted by Unregistered

We are both 53 yo, planning to retire at 55.
When we reach 55, we will get our CPF ($200k). We will also put money in CPF Life Enhanced Retirement Sum. We also have other sources of passive income. In total our passive income $70k pa from 65 yo onwards.

To fund our retirement from 55 yo to 65 yo, we need cash. We can sell our condo for $1.1 mil and buy a 4 room HDB flat ($500k), which will give us a net cash of $600k. Our CPF $200k. So we have cash $800k. We will need about $400k for the ten years ($40k pa).

Looking forward to retiring at 55. There is no need to work until 65 to 70 yo. Some people die in their 50s and 60s. There’s no guarantee we won’t be one of them. Work so hard and never get to enjoy retirement. So sad.

When we die we will leave behind for our children our HDB flat, cash, stocks and life insurance payout.

Excellent, well thought through retirement plan.
Your condo is a great asset which allow you to retire at 55.
Common for people to downgrade from condo and landed properties to HDB flat to retire.