How much are you earning per annum? - Page 442 - 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?

 Citibank Cash Back Card - up to $350 cash back* - Click to Apply Now 
Reply
 
Thread Tools
  #4411 (permalink)  
Old 21-05-2014, 02:09 PM
Unregistered
Guest
 
Posts: n/a
Default

I cant believe you came back to this "crap" here. Did you get deported by them for graffiti or some other crime? You should be thankful you have a home to come back to.

I have lived and studied in US and Europe, and I know our HDB are up there with the best of their public housing any time. Same for the public transport.

At the end of the day, the government can provide a beautiful home and place to stay, but if you spit, urine and draw graffiti here and there -- it is your fault that you have a crappy place to stay. Not your government's fault, not your neighbours' fault but your own fault.

Please dont stay here if you are one of those inconsiderate, anti-social, self serving individual. We dont need people like you.

Quote:
Originally Posted by Unregistered View Post
You must be from a certain political party.

I have stayed overseas for many years, and experienced the type of basic housing that is a million times better than the crap in singapore. Big spaces, quality furnishing and a pool are considered basic there. Not cramped, poorly maintained HDB with yelling neighbours and rats running about below.

Reply With Quote
  #4412 (permalink)  
Old 21-05-2014, 07:43 PM
Unregistered
Guest
 
Posts: n/a
Default

47/49, $120k pa combined.
Condo, $1.1m, mortgage $300k.
No car. No maid.
Cash and CPF, $400k.
Combined net worth, $1.2m.

When we retire at 65, we will sell our condo, get cash of $1.1m and buy a HDB studio unit for the elderly for $100k. We will invest the $1m cash balance to get dividends of $50k pa. We will also get the CPF annuity payout of $28k pa. So our total monthly passive income is $78k pa or $6.5k pm. This is enough since we don't drive and we cook our own simple meals.

Do you think this is a good retirement plan?



SG Bus Timing App
SG Bus Timing App - the best bus app - available on iOS and Android


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
  #4413 (permalink)  
Old 21-05-2014, 11:10 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
47/49, $120k pa combined.
Condo, $1.1m, mortgage $300k.
No car. No maid.
Cash and CPF, $400k.
Combined net worth, $1.2m.

When we retire at 65, we will sell our condo, get cash of $1.1m and buy a HDB studio unit for the elderly for $100k. We will invest the $1m cash balance to get dividends of $50k pa. We will also get the CPF annuity payout of $28k pa. So our total monthly passive income is $78k pa or $6.5k pm. This is enough since we don't drive and we cook our own simple meals.

Do you think this is a good retirement plan?
Good plan. Provided the valuation of your property is $1.1m when you retire.

Reply With Quote
  #4414 (permalink)  
Old 22-05-2014, 05:35 PM
Unregistered
Guest
 
Posts: n/a
Default

Early 50s couple, living in a paid up 20 year old 5 room HDB flat, worth $700k. We earn $140k pa salaries combined. Planning to sell our flat and buy a brand new (just TOP, fresh 99 year lease) 2 bedroom condo in the West region, next to a MRT station. One room for us and another for our daughter. Budget $1m. Will use the proceeds from sale of flat ($700k) plus our CPF and cash savings ($300k) to pay in full. We look forward to a more luxurious lifestyle. We will also stop owning a car as we can travel easily with the MRT. We will save $2k pm by not having a car. This will help us with our retirement savings.
Reply With Quote
  #4415 (permalink)  
Old 23-05-2014, 12:15 AM
Unregistered
Guest
 
Posts: n/a
Default

After buying the condo, do you still have any cash or cpf?
Reply With Quote
  #4416 (permalink)  
Old 23-05-2014, 01:57 AM
Unregistered
Guest
 
Posts: n/a
Default

44 /39 yrs old, grad couple
220k pa combined income
Fully paid 4 room hdb valued at 400k
2 room ocr condo valued at 850k, o/s loan 500k, TOP Y2015
cpf + cash on hand 550k
cash locked in shares & endowment plans 45k (capital protection),
current cash out value 80k
jap car fully paid. No maid. Expenses approx 70k pa combined.

Are we faring ok as compared to our peers ?
Any opinions, advise on how we can generate passive income in our situation ?
Reply With Quote

  #4417 (permalink)  
Old 23-05-2014, 08:19 AM
Unregistered
Guest
 
Posts: n/a
Default

You have done well. Your net worth is $1.4m now. Since you save $150k pa, over 20 years your additional savings will be $3m. So at the age of 64, your total net worth will be about $5m since you would have cleared your loan. This is definitely more than enough to retire.
You will be a rich man.

Quote:
Originally Posted by Unregistered View Post
44 /39 yrs old, grad couple
220k pa combined income
Fully paid 4 room hdb valued at 400k
2 room ocr condo valued at 850k, o/s loan 500k, TOP Y2015
cpf + cash on hand 550k
cash locked in shares & endowment plans 45k (capital protection),
current cash out value 80k
jap car fully paid. No maid. Expenses approx 70k pa combined.

Are we faring ok as compared to our peers ?
Any opinions, advise on how we can generate passive income in our situation ?
Reply With Quote
  #4418 (permalink)  
Old 23-05-2014, 09:46 AM
Unregistered
Guest
 
Posts: n/a
Default

40/41 married couple with 2 kids. Combined salaries, $150k pa.

Sold our BTO flat, use profits to buy a brand new car (paid in full) and downpayment for a 5 year old condo in the East. Condo now worth $1m, loan $750k. CPF and cash, $400k. Our kids love the condo as they get to swim in the pool.

Are we doing ok financially? Are we doing the right thing?

Any advice from the gurus here?
Reply With Quote
  #4419 (permalink)  
Old 23-05-2014, 10:56 AM
Unregistered
Guest
 
Posts: n/a
Default

If I were in your shoes, I would have gone for an EC since your income is still within the $12k limit. ECs are there to help HDB upgraders aspiring to own condos.

Anyway, dont you think it is way too late to ask whether you are doing the right thing when you have already done it?

Weird way of thinking.

I am not so concern about the $750K loan for 2 reasons. 1) the collateral is the condo, and 2) the loan rate is very very low - less than 1.2% I suppose?

And you are both still young, so there's lots of upside in your pay.

Quote:
Originally Posted by Unregistered View Post
40/41 married couple with 2 kids. Combined salaries, $150k pa.

Sold our BTO flat, use profits to buy a brand new car (paid in full) and downpayment for a 5 year old condo in the East. Condo now worth $1m, loan $750k. CPF and cash, $400k. Our kids love the condo as they get to swim in the pool.

Are we doing ok financially? Are we doing the right thing?

Any advice from the gurus here?
Reply With Quote
  #4420 (permalink)  
Old 23-05-2014, 05:29 PM
Unregistered
Guest
 
Posts: n/a
Default

Thank you for the assurance. We didn't want to buy an EC as there are MOP restrictions, also don't want to wait for 3 years. We exited from our HDB flat at a good price so can afford the condo. Yes, we have no worries about the loan as we are able to finance it comfortably.


Quote:
Originally Posted by Unregistered View Post
If I were in your shoes, I would have gone for an EC since your income is still within the $12k limit. ECs are there to help HDB upgraders aspiring to own condos.

Anyway, dont you think it is way too late to ask whether you are doing the right thing when you have already done it?

Weird way of thinking.

I am not so concern about the $750K loan for 2 reasons. 1) the collateral is the condo, and 2) the loan rate is very very low - less than 1.2% I suppose?

And you are both still young, so there's lots of upside in your pay.
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
Compilation of MAs/Analysts Gross... ( 1 2 3... Last Page)
129 Replies, 31,237 Views
Nursing Home
0 Replies, 37 Views
Be a commodities trader ( 1 2 3... Last Page)
221 Replies, 167,159 Views
Lawyer Salary ( 1 2 3... Last Page)
9,078 Replies, 2,956,681 Views
Career as Teacher ( 1 2 3... Last Page)
2,847 Replies, 1,715,012 Views
Civil Svc/ Statboard - Typical... ( 1 2 3... Last Page)
2,544 Replies, 1,086,895 Views
How much do you need to retire...
9 Replies, 1,199 Views
Working in NEA ( 1 2 3... Last Page)
63 Replies, 73,314 Views
How is life as a doctor in... ( 1 2 3... Last Page)
1,400 Replies, 958,664 Views
SIM-UOL fresh grad starting pay ( 1 2 3... Last Page)
3,107 Replies, 1,318,612 Views
DBS Graduate Associate Program ( 1 2 3... Last Page)
735 Replies, 365,866 Views
Anyone jobless for a long time... ( 1 2 3... Last Page)
2,985 Replies, 1,130,250 Views
Commercial Affairs Officer ( 1 2 3... Last Page)
112 Replies, 87,748 Views
Internal auditor
7 Replies, 4,473 Views
How much to ask for starting pay... ( 1 2 3... Last Page)
108 Replies, 11,750 Views
Job Application with MOE... ( 1 2 3... Last Page)
224 Replies, 218,309 Views
Aircraft Maintenance License and... ( 1 2 3... Last Page)
643 Replies, 468,392 Views
MINDEF DXO (All FAQ on it) ( 1 2 3... Last Page)
3,378 Replies, 1,982,255 Views
Big Four Promotion/Bonus/Incr... ( 1 2 3... Last Page)
32 Replies, 7,470 Views
ITE lecturer ( 1 2 3... Last Page)
139 Replies, 130,042 Views
Constituency Manager (People... ( 1 2 3... Last Page)
882 Replies, 455,387 Views
How much are you earning per annum? ( 1 2 3... Last Page)
12,009 Replies, 3,815,965 Views
UOB Management Associate Program ( 1 2 3... Last Page)
267 Replies, 175,196 Views
UBS Financial Services Industry... ( 1 2 3... Last Page)
152 Replies, 20,169 Views
anyone working at NCS ? ( 1 2 3... Last Page)
419 Replies, 308,638 Views
UBS Graduate Talent Program ( 1 2 3)
28 Replies, 24,821 Views
Sharing my Passive and Active...
4 Replies, 1,272 Views
Compare civil service salary ( 1 2 3... Last Page)
10,592 Replies, 5,830,413 Views
Pay grade at CSA ( 1 2 3... Last Page)
112 Replies, 32,607 Views
Dsta ( 1 2 3... Last Page)
828 Replies, 562,459 Views
Powered by vBadvanced CMPS v3.2.2



All times are GMT +8. The time now is 09:28 AM.


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