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How much are you earning per annum?

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  #1621 (permalink)  
Old 24-06-2012, 09:36 PM
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I understand how you feel. I was in a senior management before, earning $300K per annum but was asked to leave due to the venomous office politics. I dont want to get anymore involved in all the sh*t and resolved to lead a simpler life. Friends I used to have slowly stopped calling to join the high life style groups.

I am now doing my own full time investing, not earning much but enough. I too had the foresight to buy 2 investment properties which gives me a nice passive income to feed my family.

You are doing ok in my opinion. What matters is you. Be proud of who you are, no matter what your friends say. Those who stopped being your friends are not your true friends.

Life is short. Spend your time more with your family. They are your true friends.



Quote:
Originally Posted by why me? View Post
I used to be in the front office, earning $200K a year

Now, due to the bad market, I have moved into the back office, earning $100K a year

I am so sad, feeling depressed and ashamed of my foreinds who are still enjoying life in the front office

I feel bad, very bad. The only thing that gives me some cheer are my 3 private properties which I managed to accumulate during the good days

Life is tough

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  #1622 (permalink)  
Old 25-06-2012, 12:56 AM
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Quote:
Originally Posted by Unregistered View Post
I understand how you feel. I was in a senior management before, earning $300K per annum but was asked to leave due to the venomous office politics. I dont want to get anymore involved in all the sh*t and resolved to lead a simpler life. Friends I used to have slowly stopped calling to join the high life style groups.

I am now doing my own full time investing, not earning much but enough. I too had the foresight to buy 2 investment properties which gives me a nice passive income to feed my family.

You are doing ok in my opinion. What matters is you. Be proud of who you are, no matter what your friends say. Those who stopped being your friends are not your true friends.

Life is short. Spend your time more with your family. They are your true friends.
What are your high-lifestyle ex-friends working as?

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  #1623 (permalink)  
Old 25-06-2012, 08:28 PM
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Quote:
Originally Posted by Unregistered View Post
I understand how you feel. I was in a senior management before, earning $300K per annum but was asked to leave due to the venomous office politics. I dont want to get anymore involved in all the sh*t and resolved to lead a simpler life. Friends I used to have slowly stopped calling to join the high life style groups.

I am now doing my own full time investing, not earning much but enough. I too had the foresight to buy 2 investment properties which gives me a nice passive income to feed my family.

You are doing ok in my opinion. What matters is you. Be proud of who you are, no matter what your friends say. Those who stopped being your friends are not your true friends.

Life is short. Spend your time more with your family. They are your true friends.
How old are you when that happen? I guess that is the risk with being in senior management. You are dealing more with politics and people than the work itself.

I am climbing the career ladder to reach there and I am cautious about such risks.

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  #1624 (permalink)  
Old 26-06-2012, 07:21 PM
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Earning $100k a year is decent. Just read the news, many in the front office are getting retrenched. At least you still have a job, never mind if it is not in the front office.

Anyway, nothing great being in the front office, yes you earn a lot but also spend a lot on fast cars, girls, dining, wining .... Most don't save and when they get laid off, go into depression. Some simply cannot believe how a high flier from ivy league can't get a job. And they cannot bring themselves to work as lower paid jobs.

You are smart that you have invested. Keep these as your properties will give you good passive income and these will likely appreciate further.

Learn to be humble. I too have been there and done that, no big deal. Life goes on.
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  #1625 (permalink)  
Old 27-06-2012, 10:05 AM
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I read this thread with interest and would life to share my own story.
I was a high-flying investment hotshot until 2009 when I was retrenched in 2008 during the last crisis. Losing a $400k a year salary package and lifestyle is not easy. It was very painful for me and my family. I had to give up my 7 Series and downgrade to a Japanese 1.6. I sold my Bukit Timah landed and move to a cheaper landed, paying in full.

Today, I live simply. My children go to our top local schools, and I settled for a job paying me only $60k a year. We as a family are now closer and my children become nicer children and stopped being spoilt. I am saving the rental incomes from my fully paid investment properties (left only two today) to send my children overseas to further their education.

Humans have the ability to adjust, if I can still survive the fall from the top of the social ladder and still survive, so can you.
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  #1626 (permalink)  
Old 27-06-2012, 10:24 AM
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investment hotshot meaning PE, VC, AM, IM or HF?
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  #1627 (permalink)  
Old 27-06-2012, 11:03 AM
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I shall first answer the topic directly: My pay last year was $300k, excludes share of profit. I work in a family run business. I will hit 30 in a few months time.

What I really wanted to contribute to this forum:

Alot of us have a misconception of happiness being correlated to money. Not always true.

I started off very, very poor. My Dad was an aircon tech. First few years of my life (I can't remember but was told) we had to stay with my grandma. My primary school days was spent in a 3BR flat in Teban Gardens. I had no pocket money, I relied on friends to get by during recess.

Timing, right decisions and importantly luck, my family became rich very rapidly after my dad's business venture took off. By JC, we had gone from a 3RM flat in Teban Gardens to currently a landed property along Binjai Park.

Becoming rich didn't make my family happier though. On the contrary, though life was tough, my fondest memories are of my childhood. When our entire family of 5 (I have 3 siblings) squeezed into a tiny room, and when we children slept on matresses. Our family was very close knit. Dad will reward us by buying back charsiew meat every Friday. Those Friday dinners were just perfect, whole family getting excited, waiting for Dad to come home.

Becoming rich actually has made our family less happier. Dad has to travel. We rarely have dinner together as a family these days. My brothers are based overseas to manage operations. If we want to have dinner, we have to plan way in advance.

I won't say I miss being poor. But I would say I was happier back then.
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  #1628 (permalink)  
Old 27-06-2012, 12:43 PM
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Quote:
Originally Posted by Unregistered View Post
I shall first answer the topic directly: My pay last year was $300k, excludes share of profit. I work in a family run business. I will hit 30 in a few months time.

What I really wanted to contribute to this forum:

Alot of us have a misconception of happiness being correlated to money. Not always true.

I started off very, very poor. My Dad was an aircon tech. First few years of my life (I can't remember but was told) we had to stay with my grandma. My primary school days was spent in a 3BR flat in Teban Gardens. I had no pocket money, I relied on friends to get by during recess.

Timing, right decisions and importantly luck, my family became rich very rapidly after my dad's business venture took off. By JC, we had gone from a 3RM flat in Teban Gardens to currently a landed property along Binjai Park.

Becoming rich didn't make my family happier though. On the contrary, though life was tough, my fondest memories are of my childhood. When our entire family of 5 (I have 3 siblings) squeezed into a tiny room, and when we children slept on matresses. Our family was very close knit. Dad will reward us by buying back charsiew meat every Friday. Those Friday dinners were just perfect, whole family getting excited, waiting for Dad to come home.

Becoming rich actually has made our family less happier. Dad has to travel. We rarely have dinner together as a family these days. My brothers are based overseas to manage operations. If we want to have dinner, we have to plan way in advance.

I won't say I miss being poor. But I would say I was happier back then.
Great post. I agree with your sentiments. Above a certain amount, money yields a diminishing return.
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  #1629 (permalink)  
Old 27-06-2012, 03:46 PM
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Quote:
Originally Posted by Unregistered View Post
I shall first answer the topic directly: My pay last year was $300k, excludes share of profit. I work in a family run business. I will hit 30 in a few months time.

What I really wanted to contribute to this forum:

Alot of us have a misconception of happiness being correlated to money. Not always true.

I started off very, very poor. My Dad was an aircon tech. First few years of my life (I can't remember but was told) we had to stay with my grandma. My primary school days was spent in a 3BR flat in Teban Gardens. I had no pocket money, I relied on friends to get by during recess.

Timing, right decisions and importantly luck, my family became rich very rapidly after my dad's business venture took off. By JC, we had gone from a 3RM flat in Teban Gardens to currently a landed property along Binjai Park.

Becoming rich didn't make my family happier though. On the contrary, though life was tough, my fondest memories are of my childhood. When our entire family of 5 (I have 3 siblings) squeezed into a tiny room, and when we children slept on matresses. Our family was very close knit. Dad will reward us by buying back charsiew meat every Friday. Those Friday dinners were just perfect, whole family getting excited, waiting for Dad to come home.

Becoming rich actually has made our family less happier. Dad has to travel. We rarely have dinner together as a family these days. My brothers are based overseas to manage operations. If we want to have dinner, we have to plan way in advance.

I won't say I miss being poor. But I would say I was happier back then.

Good observation there.

That is why I do not allow my children luxuries and expensive toys even though our business is doing well. For the same reason, my wife and I agreed to stay on in our small apartment rather than move to a big landed house even though we can afford it.

We have only 1 small TV. After dinner, we and our children squeeze into my bedroom and we all watch TV together. That is happiness enough for me. And our kids grow up normal.

On the other hand, my friend bough a 6 bedroom house even though he earns less. Everyone has their own room and their own TV, computer, xbox etc. No one can find any one else in the family. They have to shout and then call one another on their mobile phones !

Of course no one wants to be poor. But when one becomes more comfortable, wisdom is needed to manage the extra money. It is not as simple as maximising one's pleasure and pent up desires. Money is a double-edged sword. It can be your tool and it can hurt if you use it mindlessly.
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  #1630 (permalink)  
Old 28-06-2012, 07:18 AM
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Quote:
Originally Posted by Unregistered View Post
I shall first answer the topic directly: My pay last year was $300k, excludes share of profit. I work in a family run business. I will hit 30 in a few months time.

What I really wanted to contribute to this forum:

Alot of us have a misconception of happiness being correlated to money. Not always true.

I started off very, very poor. My Dad was an aircon tech. First few years of my life (I can't remember but was told) we had to stay with my grandma. My primary school days was spent in a 3BR flat in Teban Gardens. I had no pocket money, I relied on friends to get by during recess.

Timing, right decisions and importantly luck, my family became rich very rapidly after my dad's business venture took off. By JC, we had gone from a 3RM flat in Teban Gardens to currently a landed property along Binjai Park.

Becoming rich didn't make my family happier though. On the contrary, though life was tough, my fondest memories are of my childhood. When our entire family of 5 (I have 3 siblings) squeezed into a tiny room, and when we children slept on matresses. Our family was very close knit. Dad will reward us by buying back charsiew meat every Friday. Those Friday dinners were just perfect, whole family getting excited, waiting for Dad to come home.

Becoming rich actually has made our family less happier. Dad has to travel. We rarely have dinner together as a family these days. My brothers are based overseas to manage operations. If we want to have dinner, we have to plan way in advance.

I won't say I miss being poor. But I would say I was happier back then.

Thanks for sharing. But I would argue that being less happy is the result of growing up.

It's the same for everyone. As one ages from a kid to an adult, one gets more responsibilities, stresses from family and society, and realizes that the world is a more evil place than one had assumed.

Imagine your family still had to cram into the same roo, all adults, no privacy. Would you be happier?

In fact, I would theorize that if you had stay poor, you would be much less happier than now.

But I appreciate your sharing of what you think. You are rich but you stay humble. Could you share more on how your dad moved from an Aircon technician to be a rich businessman with businessess beyond the shores of Singapore? It's quite an amazing achievement.
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