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How much are you earning per annum?

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  #2481 (permalink)  
Old 09-06-2013, 10:33 PM
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I am 44 years old. After working in the corporate world for so long, I feel exhausted and tired of all the office politics. The long hours of work and entertaining has made me sickly. I had also neglected my teenage children all these years.

I have decided to quit the corporate world for good and now focusing on my health and children. I now feel more rested, healthier and happier. Spends a lot of my time teaching my children, helping their studies. Also have time to deepen my knowledge of my religion.

In the past, our household income was $300k pa but now it is halved. Now I contribute a passive income of $48k to the family, with the rest from my wife. However the bulk of our family's net worth of $2.25m still comes from me. Still managed to live in a condo. Our family expenses are manageable as we have always been prudent. We still manage to save about $20k a year now.

Even though our income is lesser, we are happier and closer as a family and I am healthier and more alive. Money is not everything it seems.

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  #2482 (permalink)  
Old 10-06-2013, 08:55 AM
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Bravo! Congratulations!

You did the right thing. As a social worker I have seen so many families who seems normal are actually dysfunctional. These families are not broken families in the low income group, but rather well to do families. However, due to neglect, the children in these families grew up spoilt and maladjusted. They are rude, vulgar and show total disrecpect for their parents.

Good that you have bit the bullet, so to speak, and amend your ways. it is good that you have taken care of your health, many people in highy stressed jobs kick the bucket in their 50's. Yes, money is not everything, happiness is and money does not necessarily bring happiness. Happiness is when you can sit at the dinner table as a family, seeing your wife and kids smiling and joking with you - priceless.

I was a senior guy in a company and decided to become a social worker. Had the same expereince as you before I quit 3 years ago. Now I am 53 and going strong.



Quote:
Originally Posted by Unregistered View Post
I am 44 years old. After working in the corporate world for so long, I feel exhausted and tired of all the office politics. The long hours of work and entertaining has made me sickly. I had also neglected my teenage children all these years.

I have decided to quit the corporate world for good and now focusing on my health and children. I now feel more rested, healthier and happier. Spends a lot of my time teaching my children, helping their studies. Also have time to deepen my knowledge of my religion.

In the past, our household income was $300k pa but now it is halved. Now I contribute a passive income of $48k to the family, with the rest from my wife. However the bulk of our family's net worth of $2.25m still comes from me. Still managed to live in a condo. Our family expenses are manageable as we have always been prudent. We still manage to save about $20k a year now.

Even though our income is lesser, we are happier and closer as a family and I am healthier and more alive. Money is not everything it seems.


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  #2483 (permalink)  
Old 10-06-2013, 07:34 PM
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What you described appear to be symptoms of burning out. I felt it twice in my 30 yrs of working life. First time was at 40. There was just too much work, too many meetings and I started to fall behind in my work commitments. I became forgetful, irritable, cannot sleep well at night and wasnt nice to be with. When I find myself quarrelling with my wife and scolding my children more, I thought enough is enough. I also kena high blood pressure. I was prepared to call it quits when luckily a vacancy became available within the company. I jumped at it.

For 2 weeks or so, it was good. Stress was off. But it soon came back because it was still the same company, same bosses and some more they expected me to hit the ground running. Very soon, the workload piled up and I had to travel more - sometimes up to 4 trips in a quarter to Europe. I stuck at it for 4 years until I felt the same level of stress again. Then at 44, I really considered quitting. Blood pressure dosage also increased. Seeing that there was nothing to lose, I asked for a transfer back to my old position and was surprised and grateful that they granted it. I have been at it till now, 11 yrs later.

Financially I am glad I held on. Health wise I am not sure. I try to keep healthy by eating healthy meals and exercising regularly. Financially, in the 11 yrs that I stuck it out, on the average, we could save 2 yrs expenses for every year we worked. Now at 55, we are financially more prepared for retirement. Maybe because we are more financially secure, coupled with the fact that the children are grown up, and we are not concerned about career progression anymore, the stress level seemed manageable. Looking back, our net worth grew the most in the last 11 years. The two near burnt out stages really woke us up to urgently save up and invest while cutting down unnecessary expenses. The returns from our investment also speeded up our savings

Age Net Worth
40 1.8
44 2.3
55 4.5


Quote:
Originally Posted by Unregistered View Post
I am 44 years old. After working in the corporate world for so long, I feel exhausted and tired of all the office politics. The long hours of work and entertaining has made me sickly. I had also neglected my teenage children all these years.

I have decided to quit the corporate world for good and now focusing on my health and children. I now feel more rested, healthier and happier. Spends a lot of my time teaching my children, helping their studies. Also have time to deepen my knowledge of my religion.

In the past, our household income was $300k pa but now it is halved. Now I contribute a passive income of $48k to the family, with the rest from my wife. However the bulk of our family's net worth of $2.25m still comes from me. Still managed to live in a condo. Our family expenses are manageable as we have always been prudent. We still manage to save about $20k a year now.

Even though our income is lesser, we are happier and closer as a family and I am healthier and more alive. Money is not everything it seems.

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  #2484 (permalink)  
Old 10-06-2013, 08:31 PM
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Quote:
Originally Posted by Unregistered View Post
What you described appear to be symptoms of burning out. I felt it twice in my 30 yrs of working life. First time was at 40. There was just too much work, too many meetings and I started to fall behind in my work commitments. I became forgetful, irritable, cannot sleep well at night and wasnt nice to be with. When I find myself quarrelling with my wife and scolding my children more, I thought enough is enough. I also kena high blood pressure. I was prepared to call it quits when luckily a vacancy became available within the company. I jumped at it.

For 2 weeks or so, it was good. Stress was off. But it soon came back because it was still the same company, same bosses and some more they expected me to hit the ground running. Very soon, the workload piled up and I had to travel more - sometimes up to 4 trips in a quarter to Europe. I stuck at it for 4 years until I felt the same level of stress again. Then at 44, I really considered quitting. Blood pressure dosage also increased. Seeing that there was nothing to lose, I asked for a transfer back to my old position and was surprised and grateful that they granted it. I have been at it till now, 11 yrs later.

Financially I am glad I held on. Health wise I am not sure. I try to keep healthy by eating healthy meals and exercising regularly. Financially, in the 11 yrs that I stuck it out, on the average, we could save 2 yrs expenses for every year we worked. Now at 55, we are financially more prepared for retirement. Maybe because we are more financially secure, coupled with the fact that the children are grown up, and we are not concerned about career progression anymore, the stress level seemed manageable. Looking back, our net worth grew the most in the last 11 years. The two near burnt out stages really woke us up to urgently save up and invest while cutting down unnecessary expenses. The returns from our investment also speeded up our savings

Age Net Worth
40 1.8
44 2.3
55 4.5
Thanks for sharing your story. It helps the younger people gain an additional perspective.

May I know how much of your 4.5m net worth is from investment gains? I'm guessing some of it is from property? If so, do you think the younger generation will have a chance at property now that prices seem very inflated?
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  #2485 (permalink)  
Old 11-06-2013, 07:26 AM
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You reminded my experience 5 years ago when I too had a burnout after 20 years of working. I was 45 then. I climbed the corporate ladder and had the high life. But the burnout was so bad that I decided to quit working. I sold my semi D, got $2m and downgraded to a 5 room flat which I bought for $500k. My balance $1.5m gives me an annual income of $70k per year. My wife earns $60k a year. So our combined income of $130k a year is sufficient for our small family of 4. My high blood pressure is gone, my cholesterol level is back to healthy levels, I quit drinking, smoking and I exercise 4 times a week. Life is more meaningful today.

Quote:
Originally Posted by Unregistered View Post
What you described appear to be symptoms of burning out. I felt it twice in my 30 yrs of working life. First time was at 40. There was just too much work, too many meetings and I started to fall behind in my work commitments. I became forgetful, irritable, cannot sleep well at night and wasnt nice to be with. When I find myself quarrelling with my wife and scolding my children more, I thought enough is enough. I also kena high blood pressure. I was prepared to call it quits when luckily a vacancy became available within the company. I jumped at it.

For 2 weeks or so, it was good. Stress was off. But it soon came back because it was still the same company, same bosses and some more they expected me to hit the ground running. Very soon, the workload piled up and I had to travel more - sometimes up to 4 trips in a quarter to Europe. I stuck at it for 4 years until I felt the same level of stress again. Then at 44, I really considered quitting. Blood pressure dosage also increased. Seeing that there was nothing to lose, I asked for a transfer back to my old position and was surprised and grateful that they granted it. I have been at it till now, 11 yrs later.

Financially I am glad I held on. Health wise I am not sure. I try to keep healthy by eating healthy meals and exercising regularly. Financially, in the 11 yrs that I stuck it out, on the average, we could save 2 yrs expenses for every year we worked. Now at 55, we are financially more prepared for retirement. Maybe because we are more financially secure, coupled with the fact that the children are grown up, and we are not concerned about career progression anymore, the stress level seemed manageable. Looking back, our net worth grew the most in the last 11 years. The two near burnt out stages really woke us up to urgently save up and invest while cutting down unnecessary expenses. The returns from our investment also speeded up our savings

Age Net Worth
40 1.8
44 2.3
55 4.5
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  #2486 (permalink)  
Old 13-06-2013, 06:26 PM
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Ex-banker, 46, retired.
Talented investor, made a couple of millions investing in stocks and properties.
Now owns 3 fully paid condos.
Current annual family income $160k and expenses $120k. Saves $40k.
Enjoying the luxurious condo facilities everyday. Nice pool, gym and garden.

It really pays off studying and working hard in Singapore. I used to live in a small 3 room HDB flat, sharing with many family members. Coming from a poor family background, I studied hard, got into good schools and Uni and then got good jobs. I climbed up the society ladder and now among the lucky few who can retire at such an early age.
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  #2487 (permalink)  
Old 13-06-2013, 09:58 PM
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Congratulations! Looks like early retirement is the new status symbol.

Quote:
Originally Posted by Unregistered View Post
Ex-banker, 46, retired.
Talented investor, made a couple of millions investing in stocks and properties.
Now owns 3 fully paid condos.
Current annual family income $160k and expenses $120k. Saves $40k.
Enjoying the luxurious condo facilities everyday. Nice pool, gym and garden.

It really pays off studying and working hard in Singapore. I used to live in a small 3 room HDB flat, sharing with many family members. Coming from a poor family background, I studied hard, got into good schools and Uni and then got good jobs. I climbed up the society ladder and now among the lucky few who can retire at such an early age.
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  #2488 (permalink)  
Old 13-06-2013, 11:03 PM
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Not just retire young, but retire young and still living the good life - condo, car, meals at restaurants, holidays and still can save money every month.

I know a few people who are living this lifestyle in their retirement, but they are in their 50s and 60s. So indeed, to be able to retire young is a status worthy of envy.

I am already 55, but still dare not retire. Just lost $65K (paper loss) from the stock market decline over the past 3 weeks.

Need to build up a little more buffer before I dare to call it a day.

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Congratulations! Looks like early retirement is the new status symbol.
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  #2489 (permalink)  
Old 16-06-2013, 02:05 AM
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Feel bad after scrolling through the posts.

Earning around $42k (including bonus) p.a. as finance exec. ($3k pm)

37 yrs old with about 7 FT working experience.

Dont mind me asking but was considering jumping to poly and feeling how much to ask for.

Should I use $3.5k (p.a. amount divide by 12) or use the $3k (pm) as a benchmark to decide how much to seek for in jump?

Thanks, everyone!!
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  #2490 (permalink)  
Old 16-06-2013, 02:35 AM
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Default Mmtoas between

Earn 4100 per month as poly lecturer.
34 year old.
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