How much are you earning per annum?

Originally Posted by Unregistered

Income here is calculated as including bonuses, commission, and employer CPF contribution?

Include Bonus and commission. Exclude CPF.

Property prices is now at record high. We can retire now at 55 if we sell our overvalued condominium unit (fully paid) at $1.3 mil and buy a 5 room HDB flat for $600k. Plus our CPF
we will have $800k cash to cover our retirement expenses from 55 to 65. At 65, we have our CPF Life and other sources of passive income.
We will have passive income of $5k pm ($60k pa) from age 65 till we pass away.

Originally Posted by Unregistered

You may get income statistics from the website below.

s://stats.mom.gov.sg/Pages/Labour-Force-In-Singapore-2022.aspx

Below is for residents only based on data 2022

> 270kpa - top 2.2%
240kpa to 270kpa - next 3.4%
180kpa to 240kpa - next 3.1%
168kpa to 180kpa - next 0.8%

10th percentile is between 156k per annum to 168k per annum
20th percentile is between 108k per annum to 120k per annum
30th percentile is between 72k per annum to 84k per annum
40th percentile is between 60k per annum to 72k per annum

With slightly over 10 years experience, earning 120k per annum puts you around 23rd percentile. (top 23%)

wa wtf 10 years 10k a month?

Originally Posted by Unregistered

Property prices is now at record high. We can retire now at 55 if we sell our overvalued condominium unit (fully paid) at $1.3 mil and buy a 5 room HDB flat for $600k. Plus our CPF
we will have $800k cash to cover our retirement expenses from 55 to 65. At 65, we have our CPF Life and other sources of passive income.
We will have passive income of $5k pm ($60k pa) from age 65 till we pass away.

Makes sense. Buy low Sell high. Now property and global stock prices are high, so good time to take profits. When global recession comes, property and stocks will crash. Many will lose their jobs and will need to fire sale their property. So good to sell before market crash.

Originally Posted by Unregistered

Property prices is now at record high. We can retire now at 55 if we sell our overvalued condominium unit (fully paid) at $1.3 mil and buy a 5 room HDB flat for $600k. Plus our CPF
we will have $800k cash to cover our retirement expenses from 55 to 65. At 65, we have our CPF Life and other sources of passive income.
We will have passive income of $5k pm ($60k pa) from age 65 till we pass away.

A retired couple needs about $3k pm ($36k pa). The $800k is too much.

Originally Posted by Unregistered

Property prices is now at record high. We can retire now at 55 if we sell our overvalued condominium unit (fully paid) at $1.3 mil and buy a 5 room HDB flat for $600k. Plus our CPF
we will have $800k cash to cover our retirement expenses from 55 to 65. At 65, we have our CPF Life and other sources of passive income.
We will have passive income of $5k pm ($60k pa) from age 65 till we pass away.

Downgrading is a good retirement strategy. You get to monetise your private property and get cash for your retirement expenses. Most Singaporeans live in HDB flats so it’s perfectly normal to retire in a HDB flat. You can travel the world with your cash. Enjoy your early retirement. No need to wait until 65 years old to retire. Our life on this earth is short. Retiring earlier by 10 years is a great idea. You are still not too old to travel. People start to get sick in their 60s, 70s and die in their 80s. Life is short.

Originally Posted by Unregistered

wa wtf 10 years 10k a month?

10 years of exp your basic should already be 8-10k. Adding bonus should be at least 160k pa. If you’re earning less than that you’re sh1t

1.2 milllion per year.

Make decent savings yearly.

Originally Posted by Unregistered

1.2 milllion per year.

Make decent savings yearly.

Bro you forgot change currency la here use SGD not rupiah 🤡

Originally Posted by Unregistered

1.2 milllion per year.

Make decent savings yearly.

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