How much are you earning per annum? - Page 413 - Salary.sg Forums
Salary.sg Forums  

Go Back   Salary.sg Forums > The Salary.sg Discussion Forums: > Income and Jobs

Income and Jobs Discuss jobs, career options and of course salaries




How much are you earning per annum?

Reply
 
Thread Tools
  #4121 (permalink)  
Old 20-04-2014, 10:31 PM
Unregistered
Guest
 
Posts: n/a
Default

Grad couple 41 & 43. Annual combined $200k. Not too little but far from those super-earners here...

Been lucky with properties in the last 7 years...
1997: Bought first resale HDB 4-room at $385k
2002: Sold at $260k coz relocated overseas for work but returned sgp in 2007
2007: Bought first condo from developer at $700k+
2008: Sold condo for $900k+ (before TOP)
2008: Bought first landed inter-terrace at $1.08m
2010: Sold at $1.48m
2010: Bought next inter-terrace at $1.5m
2014: Still staying in it; current valuation $2.4m

Plan to continue working as long as possible.

Any advice for retirement planning?

Reply With Quote
  #4122 (permalink)  
Old 21-04-2014, 12:05 AM
Unregistered
Guest
 
Posts: n/a
Unhappy Unfortunate Case

Quote:
Originally Posted by Unregistered View Post
Sorry to hear about your situation, but don't despair. Here are some suggestions for you.

1. Your house is your asset. Keep it.
2. You can sell your car, you will save $2k pm.
3. You can drive a taxi, if you are hardworking, you can earn $5k pm. The taxi can be used for your family too.
4. Your kids are clever, tell them to give tuition to earn pocket money. For their uni education, they can get local scholarships.
5. Stop any wasteful and sinful expenses such as drinking, smoking, gambling.
6. When you retire, you can rent out your flat at $3k pm and retire in Chiang Mai, you can retire comfortably for $1k pm. You can save $2k pm.

Hope these ideas are useful.
Hi,

Thanks for the suggestions. However, don't think they can work for us.
1. Will only sell house and downgrade to a smaller unit only as a last resort because price not attractive, no point.
2. Car left with less than a year's useful life, will use it. Will not be able to afford another one after scrapping current.
3. Driving taxi not an option due to various reasons including health.
4. Kids though in top school are among the lower rung due to those from better financial background having loads of paid outside coaching. Family background really plays a big part in the advantages better students enjoy. Eg. those who can afford to stay near school save on travelling time, apart from professional coaching. Giving tuition for income? They already have not enough sleep with the heavy workload and CCA commitments. As for Uni scholarship, we are keeping my fingers crossed, also our wish.
5. No money spent on smoking, drinking or gambling except on 4D, Toto and Big sweep. As we feel more desperate, we spent more on these, hoping for a windfall.
6. Never thought of retiring overseas. That means living apart from children and family members. Really don't wish to.



SG Bus Timing App
SG Bus Timing App - the best bus app - available on iPhone


SGX Stocks Android App - check share prices
SGX Stocks [Android] App - check latest share prices on the go


SGX Stocks for iPad - check latest Singapore share prices
SGX Stocks [iPad] app
| SGX Stocks [iPhone] app
Reply With Quote
  #4123 (permalink)  
Old 21-04-2014, 12:30 AM
Unregistered
Guest
 
Posts: n/a
Default

Are you a M'sian? If not, it may not be so simple to retire there. I am looking at this option too and was looking at the MM2H (M'sia My 2nd Home) program.

Firstly, now only can buy property costing minimum RM1m.

Secondly must show monthly income of RM10,000 per person or RM20,000 for a couple to qualify. That is S$8k pm.

Thirdly, the cost of living in M'sia though lower than S'pore, still requires about S$3000 pm for a comfortable level of living for a couple. See this blog here by a M'sian living in S'pore :
://earlyretirementdiary.com/how-much-money-to-retire-in-malaysia/

Then there is the crime and culture difference to think about.

Is my info correct? Can anyone help to verify? Thanks.


Quote:
Originally Posted by Unregistered View Post
Sole breadwinner, 50. Income, $210k pa. Condo, $1.75m, paid up. Car, paid up.
Annual expenditure, $145k pa. Savings, $65k pa. Cash and CPF savings, $300k.

My retirement strategy is to sell my condo and buy a 3 room HDB flat, say costing $400k in 15 years time. I will have about $2.6m cash by then. Will invest in some investment giving me 4% dividend pa or $105k pa. This should be more than enough.

Or I could sell everything and convert to RM, can get RM8m. I can retire in KL or Penang like a rich Malaysian multi millionaire. Will let my wife decide.

Reply With Quote
  #4124 (permalink)  
Old 21-04-2014, 09:26 AM
Unregistered
Guest
 
Posts: n/a
Default

Is your house paid up? What's your net worth?


Quote:
Originally Posted by Unregistered View Post
Grad couple 41 & 43. Annual combined $200k. Not too little but far from those super-earners here...

Been lucky with properties in the last 7 years...
1997: Bought first resale HDB 4-room at $385k
2002: Sold at $260k coz relocated overseas for work but returned sgp in 2007
2007: Bought first condo from developer at $700k+
2008: Sold condo for $900k+ (before TOP)
2008: Bought first landed inter-terrace at $1.08m
2010: Sold at $1.48m
2010: Bought next inter-terrace at $1.5m
2014: Still staying in it; current valuation $2.4m

Plan to continue working as long as possible.

Any advice for retirement planning?
Reply With Quote
  #4125 (permalink)  
Old 21-04-2014, 09:29 AM
Unregistered
Guest
 
Posts: n/a
Default

You have health issues which makes you unable to work? Can share? What do you do at home everyday while your wife goes to work?


Quote:
Originally Posted by Unregistered View Post
Hi,

Thanks for the suggestions. However, don't think they can work for us.
1. Will only sell house and downgrade to a smaller unit only as a last resort because price not attractive, no point.
2. Car left with less than a year's useful life, will use it. Will not be able to afford another one after scrapping current.
3. Driving taxi not an option due to various reasons including health.
4. Kids though in top school are among the lower rung due to those from better financial background having loads of paid outside coaching. Family background really plays a big part in the advantages better students enjoy. Eg. those who can afford to stay near school save on travelling time, apart from professional coaching. Giving tuition for income? They already have not enough sleep with the heavy workload and CCA commitments. As for Uni scholarship, we are keeping my fingers crossed, also our wish.
5. No money spent on smoking, drinking or gambling except on 4D, Toto and Big sweep. As we feel more desperate, we spent more on these, hoping for a windfall.
6. Never thought of retiring overseas. That means living apart from children and family members. Really don't wish to.
Reply With Quote
  #4126 (permalink)  
Old 21-04-2014, 12:12 PM
Unregistered
Guest
 
Posts: n/a
Default

47, 42, grad couple
Total income, $162k pa
Total expenses, $120k pa
Total savings, $42k pa

Assets:
1. Condo worth $1m, fully paid
2. Car, fully paid
3. Cash & CPF, $500k
Debt & liabilities: Nil

Goes for holidays twice a year.
Buy expensive gifts during special occasions.
Eat at restaurants once a week.

We are considered the average Singaporean family.
Are there any grad couples doing worse than us? Please share.
Reply With Quote

  #4127 (permalink)  
Old 21-04-2014, 09:02 PM
Unregistered
Guest
 
Posts: n/a
Default

$42k pa savings quite ok. Assuming you can minimally maintain this level of savings till you reach the retirement age of 65, you will accumulate another $756k. Take away $256k for 2 more cars (each for 10years), you will have a net savings of $500k to add to what you have currently.

With $1m at age 65(not counting your property), you will need to exercise great prudence to stretch that for at least 25 years ie a draw down rate of $40k pa or roughly $3.5k pm.

Can you survive on that as a couple? If not then downgrading from the condo is a given.


Quote:
Originally Posted by Unregistered View Post
47, 42, grad couple
Total income, $162k pa
Total expenses, $120k pa
Total savings, $42k pa

Assets:
1. Condo worth $1m, fully paid
2. Car, fully paid
3. Cash & CPF, $500k
Debt & liabilities: Nil

Goes for holidays twice a year.
Buy expensive gifts during special occasions.
Eat at restaurants once a week.

We are considered the average Singaporean family.
Are there any grad couples doing worse than us? Please share.
Reply With Quote
  #4128 (permalink)  
Old 21-04-2014, 09:35 PM
Unregistered
Guest
 
Posts: n/a
Default

how am I doing compared to my peers?

33 this year, grad from UOL. take home 97 grand, travel for biz 25-30% of the time, average 1-2 times per month. when not traveling can knock off on time 80% of the time
Reply With Quote
  #4129 (permalink)  
Old 21-04-2014, 10:11 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
47, 42, grad couple
Total income, $162k pa
Total expenses, $120k pa
Total savings, $42k pa

Assets:
1. Condo worth $1m, fully paid
2. Car, fully paid
3. Cash & CPF, $500k
Debt & liabilities: Nil

Goes for holidays twice a year.
Buy expensive gifts during special occasions.
Eat at restaurants once a week.

We are considered the average Singaporean family.
Are there any grad couples doing worse than us? Please share.
I would try to save more. I am 48, single income, earning 265k pa and my expenses is 96k pa. Holiday once a year, eat restaurant once a week. When I retire at 55, expenses of 66k pa will be sufficient.
Reply With Quote
  #4130 (permalink)  
Old 22-04-2014, 09:06 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
I would try to save more. I am 48, single income, earning 265k pa and my expenses is 96k pa. Holiday once a year, eat restaurant once a week. When I retire at 55, expenses of 66k pa will be sufficient.
Why are you not married and have children. Who is going to take care of you when you are old and senile? Have you got yourself registered in an old folks home?
Reply With Quote
Reply

Bookmarks

Tags
bond, bond breaking, income pa, lawyer, saf

« Previous Thread | Next Thread »
Thread Tools

Posting Rules
You may not post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are On
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Industries with Highest Proportion Earning 5-Figure Monthly Income Salary.sg Income and Jobs 23 06-08-2017 05:46 PM
Lawyer earning $25k/mth forged $65k payslip to get job Salary.sg Income and Jobs 2 30-12-2011 02:42 PM

» 30 Recent Threads
Anyone jobless for a long time... ( 1 2 3... Last Page)
2,815 Replies, 1,057,110 Views
SIM-UOL fresh grad starting pay ( 1 2 3... Last Page)
2,568 Replies, 1,250,743 Views
Cold calls/emails to HR ( 1 2)
10 Replies, 1,002 Views
DBS Management Associate Program... ( 1 2 3... Last Page)
1,294 Replies, 234,206 Views
Q: Big4 - Yearly salary increment ( 1 2 3... Last Page)
922 Replies, 739,038 Views
Compare civil service salary ( 1 2 3... Last Page)
9,656 Replies, 5,445,779 Views
Factual Local Bank Salaries - DBS... ( 1 2 3... Last Page)
79 Replies, 62,101 Views
Q: Management Associate at SGX ( 1 2 3... Last Page)
82 Replies, 11,723 Views
ITE lecturer ( 1 2 3... Last Page)
121 Replies, 113,624 Views
Insurance Management Associate... ( 1 2 3... Last Page)
60 Replies, 16,155 Views
Lawyer Salary ( 1 2 3... Last Page)
5,699 Replies, 2,380,005 Views
Diploma in Digital Marketing at...
2 Replies, 977 Views
Mask price discount in cb period
0 Replies, 26 Views
Marsh Graduate Development Program ( 1 2 3... Last Page)
43 Replies, 4,173 Views
Pay grade at CSA ( 1 2 3... Last Page)
102 Replies, 23,544 Views
Roles in accenture singapore ( 1 2 3... Last Page)
327 Replies, 240,207 Views
All about Home Affairs Senior... ( 1 2 3... Last Page)
168 Replies, 169,199 Views
Local Uni Class of 2020 - COVID19... ( 1 2 3... Last Page)
244 Replies, 45,907 Views
Whats your net worth ( 1 2 3... Last Page)
2,710 Replies, 779,721 Views
How is life as a doctor in... ( 1 2 3... Last Page)
1,156 Replies, 879,102 Views
MINDEF DXO (All FAQ on it) ( 1 2 3... Last Page)
3,207 Replies, 1,858,366 Views
Dentist Salary
7 Replies, 6,031 Views
Fresh Grad from local U cant find... ( 1 2 3... Last Page)
55 Replies, 10,332 Views
Our Poll Results: 45% Fresh... ( 1 2 3... Last Page)
47 Replies, 21,170 Views
Singtel Management Associate... ( 1 2 3... Last Page)
124 Replies, 81,589 Views
Dsta ( 1 2 3... Last Page)
803 Replies, 533,474 Views
Possible to earn passive income... ( 1 2)
12 Replies, 2,315 Views
Civil Svc/ Statboard - Typical... ( 1 2 3... Last Page)
1,974 Replies, 917,266 Views
High Finance Thread ( 1 2 3... Last Page)
79 Replies, 13,491 Views
Salary working for SEA FP&A... ( 1 2)
16 Replies, 1,492 Views
Powered by vBadvanced CMPS v3.2.2



All times are GMT +8. The time now is 10:22 PM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2020, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.3.2