How much are you earning per annum?

EC or PC no difference after 5 yrs lah.

Should really take advantage of your income of $150k pa (or $10k pm) to buy EC.

By the way, with your income and staying in PC will make you the lowest income earners among PC dwellers.

This data from salary.sg:
The average monthly income of households*living in condos is $19,026. For those families living in landed properties, the figure is $25,419. This is according to the Key Household Income Trends 2012 report published by the Singapore Department of Statistics.

Originally Posted by Unregistered

My friends stay in PC, not EC. I want PC, not EC.

Originally Posted by Unregistered

My friends stay in PC, not EC. I want PC, not EC.

If my math is correct, 150k PA = 12.5k PM
Not sure you are eligible to buy EC.

Originally Posted by Unregistered

By the way, with your income and staying in PC will make you the lowest income earners among PC dwellers.

This data from salary.sg:
The average monthly income of households*living in condos is $19,026. For those families living in landed properties, the figure is $25,419. This is according to the Key Household Income Trends 2012 report published by the Singapore Department of Statistics.

its not just the income relative to able to stay in condos, its how must loan you are taking and able to service. having a 19k income with high debt is risky, high pay wont last. if this 12,5k income earner had saved enough and taking less loan for the condos, hemight be better off than the former.

generally speaking high income earner may spend more and save less

Originally Posted by Unregistered

its not just the income relative to able to stay in condos, its how must loan you are taking and able to service. having a 19k income with high debt is risky, high pay wont last. if this 12,5k income earner had saved enough and taking less loan for the condos, hemight be better off than the former.

generally speaking high income earner may spend more and save less

Though this is very subjective, I think he should accumulate more wealth for retirement rather than buying a more luxurious lifestyle.

From the way he replied, hope he is just another troll

The qualifying income is based on monthly income. Not annual income divided by 12.

Meaning it does count your bonus which is not regular.

Originally Posted by Unregistered

If my math is correct, 150k PA = 12.5k PM
Not sure you are eligible to buy EC.

Originally Posted by Unregistered

The qualifying income is based on monthly income. Not annual income divided by 12.

Meaning it does count your bonus which is not regular.

Originally Posted by http://www.mom.gov.sg/statistics-publications/national-labour-market-information/statistics/Pages/earnings-wages.aspx

Gross monthly income from work refers to income earned from employment. For employees, it refers to the gross monthly wages or salaries before deduction of employee CPF contributions and personal income tax. It comprises basic wages, overtime pay, commissions, tips, other allowances and one-twelfth of annual bonuses. For self-employed persons, gross monthly income refers to the average monthly profits from their business, trade or profession (i.e. total receipts less business expenses incurred) before deduction of income tax.

Paiseh, I got my definition from MOM, that's why I am not sure whether he is eligible to buy

Singapore's current population is 5.4 million including PR and transient workers.<source: http://www.singstat.gov.sg/>

Of these, 3.4 million are employed/working.

According to salary.sg: Salary.sg - Your Salary in Singapore

10,000 S'poreans earn $1m and above pa or
44,200 earn $500k and above pa or
190,400 earn $250k and above pa or
401,200 earn $150k and above pa or
741,200 earn $100k and above pa or
1,808,800 earn $50k and above pa.

So where do you stand?

Need advice. What should I do?

Hi, I used to be a corporate executive, earning $200k pa. But I was let go due to down sizing. I had a good severance package and with my savings all these years, I am able to invest, earning me a passive income of $40k pa. However I feel inadequate as my wife earns more at $120k pa. As a man, I felt that I should earn more or at least on par with my wife.

Should I liquidate my investment and set up a food business? I have no experience but my friend is willing to partner with me. This option potentially can give me an earning of $150k pa, but the risk is there. I could lose all my money if response for my products is not good.

As for searching for a job, I have done this for many months but not successful. I am either too old or overqualified. I thought of driving a taxi but my wife is against it as she feels embarrassed with our neighbors and relatives. My wife said that she is actually ok with me not working as I do still bring in income of $40k pa and I have paid off our condo mortgage and car loan. Also I have a $1m investment portfolio which will fund both our retirement. Her investment portfolio is only $100k. She said what I can do is to stop the maid's service and then I do most of the household chores and also ferry her and our kids around and coaching the kids. By not having a maid, our household expenses in total will drop to $100k pa. So as a couple, we can still save $60k pa.

What should I do? Follow my ego and do the food business - potential higher income for me but higher risk or follow my wife's idea - lower income for me but lower risk, become house husband (ego down the drain). What should I do? What would you do?

All I can say is you very cartoon. You want to check income eligibility for EC and you went to MOM website to check. You should check HDB website: HDB InfoWEB: Income Guidelines : Buying A New Flat

Aiyoh yoh...paiseh, paiseh for what!?

Originally Posted by Unregistered

Paiseh, I got my definition from MOM, that's why I am not sure whether he is eligible to buy

At your current situation as to you mentioned you find it hard to find similar job that pays well.

So you want to risk all you have (eggs nest) in a business you know nothing to triple your income? And if that doesn't work then what? I am not sure about you but if my business partner doesn't stump up at least 50% its a no go for me.

If you wanna play with say 200K I think that's reasonable, danger if the business flounders you might attached to pump in more cash.

My perspective is you do not do it, simply because if thats all you got failure is not an option. Sometimes when you're not working and you have money lying around its not easy to resist the temptation try something out, (I did that and lost a lot).

Think calmly about what your strengths are and how you can best capitalize on that, don't be rash and risk all your eggs on something you know jack about.

Originally Posted by Unregistered

Need advice. What should I do?

Hi, I used to be a corporate executive, earning $200k pa. But I was let go due to down sizing. I had a good severance package and with my savings all these years, I am able to invest, earning me a passive income of $40k pa. However I feel inadequate as my wife earns more at $120k pa. As a man, I felt that I should earn more or at least on par with my wife.

Should I liquidate my investment and set up a food business? I have no experience but my friend is willing to partner with me. This option potentially can give me an earning of $150k pa, but the risk is there. I could lose all my money if response for my products is not good.

As for searching for a job, I have done this for many months but not successful. I am either too old or overqualified. I thought of driving a taxi but my wife is against it as she feels embarrassed with our neighbors and relatives. My wife said that she is actually ok with me not working as I do still bring in income of $40k pa and I have paid off our condo mortgage and car loan. Also I have a $1m investment portfolio which will fund both our retirement. Her investment portfolio is only $100k. She said what I can do is to stop the maid's service and then I do most of the household chores and also ferry her and our kids around and coaching the kids. By not having a maid, our household expenses in total will drop to $100k pa. So as a couple, we can still save $60k pa.

What should I do? Follow my ego and do the food business - potential higher income for me but higher risk or follow my wife's idea - lower income for me but lower risk, become house husband (ego down the drain). What should I do? What would you do?