How much are you earning per annum?

Household income, $162k pa. Expenditure, $120k pa. Savings, $42k pa.
Condo, worth $1.2m, with loan $250k left. Car, no loan.
Assets - condo, cash, stocks, CPF.
Combined net worth, $2.5m.
44, 42 years old.

We need to work harder to retire at 65, need to achieve a net worth of $4m by 65.
We will retire in a cheaper location such as Koh Samui, Chiang Mai or Krabi.

I'm 29 turning 30 this year. Recently married and had been working in an oil and gas firm for 4+ going to 5 years later this year. I made ~130k all in in 2013. I'm wondering how this stacks up against the sign on military regulars as I see most of them driving nice cars and such.

I'm 34 also in finance, I think pending on your department (i.e Operations, Finance, M&A etc) it will make a difference on how much a career impact it will be. Some will say CFA will trump a masters etc.

Also it depends which masters are your aiming to take, how do you expect that to help you? i.e move to a totally different department with more opportunities?

Also every company has its dynamics, sometimes playing politics gets you where you want to be quicker than actual hard work.

So go for it if you have the dedication and can spare the time, but have a hard think about how do you expect it to benefit your career wise. Part time is a good move though as you do not want to sacrifice your work commitments.

Finance industry is kind of in the rocky path at the moment.

Originally Posted by Unregistered

Hi guys,

Sorry to hijack this thread, as this seems to be the most active thread with many experienced professionals.

I'm 32 yrs old, worked for 7 yrs in the finance sector. Last year i made about $110k all in. Right now i'm getting into the phase of moving into my new house and family planning.

My question is for someone my age and salary level, is it too late for me to do a Masters degree? Im thinking of pursuing a part time Masters to further improve my financial knowledge. However im worried that I might not have enough time for my family if I have children as a part time Masters typically will require 2 years of commitment after work and weekends..

Is a Masters worth it?

Appreciate any thoughts/advice!

Originally Posted by dives

I'm 34 also in finance, I think pending on your department (i.e Operations, Finance, M&A etc) it will make a difference on how much a career impact it will be. Some will say CFA will trump a masters etc.

Also it depends which masters are your aiming to take, how do you expect that to help you? i.e move to a totally different department with more opportunities?

Also every company has its dynamics, sometimes playing politics gets you where you want to be quicker than actual hard work.

So go for it if you have the dedication and can spare the time, but have a hard think about how do you expect it to benefit your career wise. Part time is a good move though as you do not want to sacrifice your work commitments.

Finance industry is kind of in the rocky path at the moment.

Rocky path? Then you haven't experienced manufacturing and engineering.

Originally Posted by darkstar

Hello,

I am about 4 years younger than you but have spent 4 years in the private education industry, so i have seen a lot of cases like yours before.

of course, the advice I give might not necessarily be relevant to your situation, as each individual's circumstances are different.

In taking a masters, you can consider the following:

1) ROI
2) Commitment on time
3) commitment on money

if you take a masters, would it translate into higher pay/promotion prospects/career development for you? I am not sure what your job is but you can check your seniors to see what they think. If career development is important to you, choose a good uni.

early 30s to late 30s is actually the right time to do a masters but even a part-time degree will take a lot of time, so do be prepared to make that sacrifice.

Hi, thanks for taking the time to reply. Why do you say that early 30s to late 30s is the right time to do a masters? You see many people of that age range doing it?

Excluding executive MBA for senior managers

Originally Posted by dives

I'm 34 also in finance, I think pending on your department (i.e Operations, Finance, M&A etc) it will make a difference on how much a career impact it will be. Some will say CFA will trump a masters etc.

Also it depends which masters are your aiming to take, how do you expect that to help you? i.e move to a totally different department with more opportunities?

Also every company has its dynamics, sometimes playing politics gets you where you want to be quicker than actual hard work.

So go for it if you have the dedication and can spare the time, but have a hard think about how do you expect it to benefit your career wise. Part time is a good move though as you do not want to sacrifice your work commitments.

Finance industry is kind of in the rocky path at the moment.

Hi, thanks for sharing your perspective! Will think hard about it..

Originally Posted by Unregistered

Rocky path? Then you haven't experienced manufacturing and engineering.

I'm commenting directly to someone working in the same sector as myself, what relevance would bringing in other sectors to my comment be in relation to his question?

Hello, I am not in the finance line, but in engineering.

I went my for 2nd masters when I was 32. My 2 masters were in two different engineering fields. I did my first masters at 29. I was married for a year then with a baby coming along. We also just bought our home, a small private property emptying all our savings. The first masters was done part time at NUS at my own cost and time. It was quite stressful having to rush from work to attend lessons at night and burning weekends to finish off assignments. It went on for 2 years!

After I graduated, my company decided to sponsor me for another masters in a field they wanted me to specialize in. I was in two minds about studying some more with a baby, but I thought the company saw the potential in me, so I decided to take up the sponsorship. This second masters was done in the US full time. I completed it in 1 year. I had my wife and baby with me in the US. My wife had to quit her job. To make up the loss in her income, we rented out our home during that time. I was then one of the oldest student in the classes I took.

Those years were quite tough but exciting. Looking back, it is quite amazing what we achieved when we set our minds to it.

That was years ago, now my son has grown up and has just started working after completing his honours degree at NUS.

Those struggles, juggling work, studies, assignments, exams and family now appear very distant.

Originally Posted by Unregistered

Hi, thanks for taking the time to reply. Why do you say that early 30s to late 30s is the right time to do a masters? You see many people of that age range doing it?

Excluding executive MBA for senior managers

I did two masters during my 30s. Now at 45, I am retired. With the knowlodege I gained, I become very good at investments.

I am living with the passive income from my assets. I am also a millionaire and debt free.

My masters helped me to move up in my career and open new doors but my sheer hard work and intelligence and dedication are the more critical factors.

To the above 2 posters, thanks for sharing. I guess what I learned from your experiences is that career success truly comes from hard work, sacrifices and determination. Doesn't matter what's the age. Thanks for the inspiration!