How much are you earning per annum?

jobhunter1234 · #**2171** (**permalink**) 16-03-2013, 01:14 PM

Quote:

Originally Posted by Unregistered

Calling the self-made high net worth readers, need your advice. How can I improve my financial situation above? Only have 20K ...

income 108k per annum consider quite high for your age...care to share which industry are you working in?

#**2172** (**permalink**) 16-03-2013, 02:14 PM

Quote:

Originally Posted by Unregistered

i've benefited from the salary information on this forum, so here's my contribution:

age: 29
industry: oil and gas
job: trading (5+ years of experience)
gross annual income: 95k fixed + 55k variable bonus + 2-3k various allowances

also earning side income from renting out an apartment i bought with my cpf+cash top up. rental of $3800/pm currently is enough to cover monthly mortagage, management fee, property tax etc.

would be interested to establish contact with others in the same industry, to compare salary packages across firms. just post a msg on this forum.

Hi, can i ask about your job? How do you get in the industry, or at least care to advice a young undergrad on how to get into the industry?

#**2173** (**permalink**) 17-03-2013, 10:19 AM

Quote:

Originally Posted by Unregistered

Appreciate the sharing, but honestly your net worth (i'm guessing $5M) at your age is rather average. i'm 36 and approaching $3M net worth which i feel is under achieving and my aim is for at least $10M by 45 and just earning a salary is not the way

Yes my total net is about $6-7 M at the age of 51 (if I sell off all my properties). My plan is to retire elsewhere other than Singapore. You have done very well at 36. The only way is to invest. Mind sharing how you achieved your current net worth, properties?

#**2174** (**permalink**) 17-03-2013, 10:31 AM

Quote:

Originally Posted by Unregistered

Yes my total net is about $6-7 M at the age of 51 (if I sell off all my properties). My plan is to retire elsewhere other than Singapore. You have done very well at 36. The only way is to invest. Mind sharing how you achieved your current net worth, properties?

Yes, mainly property. I moved in with my in laws to have the flexibility to buy and sell properties between 2006 to 2012 without the hassle of moving house. Took me 6 yrs to hit 1M, another 4 yrs to reach 2M, and another 2 yrs to hit 3M. Not invested now except for one landed in d15, but holding cash waiting for opportunities

#**2175** (**permalink**) 17-03-2013, 05:04 PM

Don't mistake luck for skill.

One must invest but that doesn't mean that your past successes will determine your future successes. Holding cash is a risk averse strategy and you may do well compared to the tons of people who don't invest but also don't have cash (yes, many of them exist). However if your strategy is compared to an aggressive one, then your future returns may not be as impressive.

In the end, it's mostly luck.

If not, GIC and Temasek would have been much more successful.

#**2176** (**permalink**) 17-03-2013, 10:58 PM

Quote:

Originally Posted by Unregistered

Yes my total net is about $6-7 M at the age of 51 (if I sell off all my properties). My plan is to retire elsewhere other than Singapore. You have done very well at 36. The only way is to invest. Mind sharing how you achieved your current net worth, properties?

Where do you plan to retire to?

#**2177** (**permalink**) 18-03-2013, 07:44 AM

Quote:

Originally Posted by Unregistered

Where do you plan to retire to?

Up North where I have built my dream home. I would not have made the decision 5 years ago but with the escalating cost and planning for a younger retirement, I've got better mileage retiring elsewhere.

Again, for the younger ones in this forum, my scenario may not be a good target for you. Mentioned in my initial post, I am just providing a bench mark for you. I enjoy my salaried life and need not worry about any monetary risk in investment through out.

Obviously, aggressive investment in property will give you very high return, I would say 1 in 10 will be successful and needs a lot of perseverance and discipline.