How much are you earning per annum?

I see from this thread there are many well-to-do (not rich, ONLY well-to-do) but self-absorbed people. Many speak as if they are sharing their stories out of kindness, but it is actually out of vanity and their need for constant validation. The posts are screaming: 'Look at me! I am smart! I am successful! Don't you all agree? Hmm?'

Nothing wrong with making loads of money or being rich, but some of you have to realise that nobody really gives a **** about your small condos and modest savings, except probably yourselves. The people I know who own GCBs and have trust funds don't talk about what they have the way you do.

Originally Posted by Unregistered

I see from this thread there are many well-to-do (not rich, ONLY well-to-do) but self-absorbed people. Many speak as if they are sharing their stories out of kindness, but it is actually out of vanity and their need for constant validation. The posts are screaming: 'Look at me! I am smart! I am successful! Don't you all agree? Hmm?'

Nothing wrong with making loads of money or being rich, but some of you have to realise that nobody really gives a **** about your small condos and modest savings, except probably yourselves. The people I know who own GCBs and have trust funds don't talk about what they have the way you do.

38 yr old. 2 kids.
engineer
56k

The following could be the reasons why the upper class (in terms of wealth) don't share their stories here :

1. This is a no name, anonymous forum, way beneath them to waste their time here
2. They are already in the news through their business, investment ventures (like that someone who wanted to buy Liverpool), social magazines etc. They dont lack publicity
3. They are elected figures and thus it will be in very bad taste if they boast about their high incomes. If they do that they know they will become private figures very soon.
4. They don't want to draw attention to themselves for privacy and security reasons like what happened to the supermarket chain owner's mother.

But I can tell you, they also want to tell the world their stories, but on their terms and in the "right" forum. To them, they crave a bigger audience. For eg. every sunday, the Sunday Times would feature some successful business person sharing their stories.

There is nothing wrong for people to want to share their journey to wealth stories here. In fact some are quite inspiring. What spoilt the sharing was the many false and outlandish posts from losers. I pity them because they will feel low about themselves as they realize what they earn and what they lied about are never going to match up.

Many can attain some level of wealth if they can remain in employment continuously, have disciplined saving, invest and have patience. I see many fresh graduates already starting with salary levels that I took 4 -5 years to reach when I graduated about 30 years ago. So if I could grow my wealth to more than $5m today, I don't see why many of them could not. In fact I expect most of them to exceed this level of wealth when they reached their 50s.

Originally Posted by Unregistered

I see from this thread there are many well-to-do (not rich, ONLY well-to-do) but self-absorbed people. Many speak as if they are sharing their stories out of kindness, but it is actually out of vanity and their need for constant validation. The posts are screaming: 'Look at me! I am smart! I am successful! Don't you all agree? Hmm?'

Nothing wrong with making loads of money or being rich, but some of you have to realise that nobody really gives a **** about your small condos and modest savings, except probably yourselves. The people I know who own GCBs and have trust funds don't talk about what they have the way you do.

Originally Posted by Unregistered

some are quite inspiring. What spoilt the sharing was the many false and outlandish posts from losers. I pity them because they will feel low about themselves as they realize what they earn and what they lied about are never going to match up.

if I could grow my wealth to more than $5m today, I don't see why many of them could not. In fact I expect most of them to exceed this level of wealth when they reached their 50s.

Show us your inspiring yet un-outlandish story. Don't just criticize, lead the way please.

Originally Posted by Unregistered

What's all these nonsense postings? Let me share with you the truth from my own experience. My wife and I only earn an annual income of $130k and we are now in our late 30s. We first got our HDB flat in Queenstown and after a few years of staying ther, we sold it off at $900k.

Since we bought it cheap, after paying off the outstanding mortgage, we had net cash of $700k. We then use the $700k plus our own $100k savings to pay for downpayment of a $1.1m condo in Upper Bukit Timah. So the mortgage for our current condo is only $300k. This is very much manageable for us.

So, you dont need a salary of $470k pa or $800k pa to buy a condo, unless you want to buy the $30m condos in Orchard Road.

There are many stupid forumers here who have no knowledge at all on private properties.

No need to say others are stupid. Sometimes, it's not that we are smart, just that we are lucky. Right place at the right time is all.

You just happened to buy a BTO at a good location (OK, maybe you chose the good location , so credit to you), but I doubt you foresaw the property boom that therefore let you cash out of the HDB.

Originally Posted by Unregistered

38 yr old. 2 kids.
engineer
56k

That's quite decent for a 38 year old. Have you finished paying your BTO mortgage? Is your wife is working and earning as much as you, your family income is more than $100k pa. You are in the middle income group.

Focus of paying off your BTO mortgage and start to save for your retirement, buy good blue chips for dividends. Do not buy a car as it is very expensive to own and maintain. You will be ok.

We are lucky that we get cheap BTO flats, no other country in the world will provide you with cheap BTO flats.

38, father of 4
IT Manager
117K

Originally Posted by Unregistered

Our income is $470k pa yet our two cars cost us $270k combined. Yes they are Jap cars, but they are reliable and comfortable for the city traffic here. By the way, we are not staying in a condo, but just an HDB exec flat. Our condo is for generating income.

We earned just short of 400k last year, and drive a 5-yr old 100k Family Saloon
We live in our 10 year old 600k landed property (now worth 1.7M) with 5 kids
We are comfortable, and hope to put aside enough to provide for ours kids when the time is right.

And no, we don't intend to spend on an overpriced MPV until the COEs return to a reasonable price.

Originally Posted by Unregistered

We earned just short of 400k last year, and drive a 5-yr old 100k Family Saloon
We live in our 10 year old 600k landed property (now worth 1.7M) with 5 kids
We are comfortable, and hope to put aside enough to provide for ours kids when the time is right.

And no, we don't intend to spend on an overpriced MPV until the COEs return to a reasonable price.

I'm the reverse of you. I earn 24k p.a. but drive a Mersarati after I'm off duty from taxi driving. Live in Sentosa Cove.

Was lucky as I won the $3.1 mil CNY Toto a few years back, and also received an inheritance of $5 mil when my previous employer, for whom I was a chauffeur, died. (The car was also bequeathed to me).

Originally Posted by Unregistered

38, father of 4
IT Manager
117K

Is your wife working? How much she earns?