How much are you earning per annum? - Page 455 - 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
  #4541 (permalink)  
Old 08-06-2014, 03:52 PM
Unregistered
Guest
 
Posts: n/a
Default

As a full time trader investor, I spend my time reading a lot about the economy, stock markets, policies, etc. I have been successful in earning $100k pa (trading profits plus dividends) based on a capital of $1m. My returns are high because I trade and the risk is high but I am able to do this consistently because I am a very experienced investor unlike most people who don't know how to invest. My spouse earns $70k pa and our family expenses is $110k pa, so we save $60k pa. We live in a condo worth $2m, paid up. We also own a car, paid up. I enjoy my work and have the flexibility to spend time with my family. Our net worth is about $3m plus. We are both 40.

Reply With Quote
  #4542 (permalink)  
Old 08-06-2014, 06:57 PM
Unregistered
Guest
 
Posts: n/a
Default

Your combine income level is modest. Given the lack of information on your cashflow anyone would be hard pressed to provide you some proper advice.

Just a general review of your situation, you are about 35 now, once you paid up your flat you be about 60 or so? Given the current rules and your income private property investments are outside of your immediate reach? I believe you need to either pay up your HDB first before you can buy another property.

Some on this forum will advise you to invest in stocks and what not, unless you're a guru or have a stable emotional mindset you have to decide if this is for you? One thing for sure many on this forum dish out advise on how to generate 5% or even 10% returns but no one can really provide in detail what is the right approach. Without this most of the information is garbage really.

If you're a hardworking and lead a simple lifestyle, my advice to you is to pay off your Mortgage loan sooner. 15 years if possible? This way you will be cleared by the time you hit 50 and perhaps can look to invest cash without risking you're home or maybe buy a 2nd home for investment. Or if (touch wood) you get retrenched you can at least drive a cab without stressing about lack of cash. You will be suprised how much you pay goes into interest just on that extra 10 years.

Alternatively you can retire in Malaysia which seems to be a popular subject, that's assuming Sharia law doesn't get imposed 20 years from now.

Get rich quick? Buy 4D, Toto very popular option too



Quote:
Originally Posted by Unregistered View Post
We are in our mid 30s, I earn $50k pa while spouse earns $60k pa. We live in a 5 room BTO HDB flat with mortgage of 25 years left. We don't own a car and take the bus to work. Need your advice on how to be rich. Thank you.




Primary School English Grammar and Vocabulary Drills
Primary School English Grammar and Vocabulary Drills


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
  #4543 (permalink)  
Old 08-06-2014, 07:25 PM
Unregistered
Guest
 
Posts: n/a
Default

appreciate the advice, i think paying down our mortgage is the best option. once we finish paying, it will be ours and it becomes an asset. we can then rent it out when we reach 65, by then hdb rental would be at least $6k per month (in 30 years time) and we can retire in malaysia. i don't want to drive a taxi as this is a big insult for a highly educated degree holder. i rather retire in malaysia, thailand or even indonesia than to be seen by my senior executive peers driving a taxi. i will die out of shame.


Quote:
Originally Posted by Unregistered View Post
Your combine income level is modest. Given the lack of information on your cashflow anyone would be hard pressed to provide you some proper advice.

Just a general review of your situation, you are about 35 now, once you paid up your flat you be about 60 or so? Given the current rules and your income private property investments are outside of your immediate reach? I believe you need to either pay up your HDB first before you can buy another property.

Some on this forum will advise you to invest in stocks and what not, unless you're a guru or have a stable emotional mindset you have to decide if this is for you? One thing for sure many on this forum dish out advise on how to generate 5% or even 10% returns but no one can really provide in detail what is the right approach. Without this most of the information is garbage really.

If you're a hardworking and lead a simple lifestyle, my advice to you is to pay off your Mortgage loan sooner. 15 years if possible? This way you will be cleared by the time you hit 50 and perhaps can look to invest cash without risking you're home or maybe buy a 2nd home for investment. Or if (touch wood) you get retrenched you can at least drive a cab without stressing about lack of cash. You will be suprised how much you pay goes into interest just on that extra 10 years.

Alternatively you can retire in Malaysia which seems to be a popular subject, that's assuming Sharia law doesn't get imposed 20 years from now.

Get rich quick? Buy 4D, Toto very popular option too

Reply With Quote
  #4544 (permalink)  
Old 08-06-2014, 08:00 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
appreciate the advice, i think paying down our mortgage is the best option. once we finish paying, it will be ours and it becomes an asset. we can then rent it out when we reach 65, by then hdb rental would be at least $6k per month (in 30 years time) and we can retire in malaysia. i don't want to drive a taxi as this is a big insult for a highly educated degree holder. i rather retire in malaysia, thailand or even indonesia than to be seen by my senior executive peers driving a taxi. i will die out of shame.
Are you really a "highly educated degree holder"? Pardon my frankness as your thoughts has cast serious doubts and is worrying.
Driving a taxi gives an honest income and the flexibility to manage your life better. Your current earnings of $50k pa is not outstanding and not far off from a cab driver's pay, yet I believe your working hours are tied down by your Company. I've known of some cabbies who are property or equity investors.
If you are indeed a degree holder with such shallow thinking, then I'm not surprised that in your mid 30s, your income is only $50k. It's time you do some serious thinking.
Reply With Quote
  #4545 (permalink)  
Old 08-06-2014, 09:07 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
As a full time trader investor, I spend my time reading a lot about the economy, stock markets, policies, etc. I have been successful in earning $100k pa (trading profits plus dividends) based on a capital of $1m. My returns are high because I trade and the risk is high but I am able to do this consistently because I am a very experienced investor unlike most people who don't know how to invest. My spouse earns $70k pa and our family expenses is $110k pa, so we save $60k pa. We live in a condo worth $2m, paid up. We also own a car, paid up. I enjoy my work and have the flexibility to spend time with my family. Our net worth is about $3m plus. We are both 40.
I aspire to be like you. Trading for a living is cool as it is like doing your own business without having to get clients. You are your own boss. This is the best job in the world. Of course it is not easy but for you, since you are experienced, piece of cake.
Reply With Quote
  #4546 (permalink)  
Old 08-06-2014, 10:41 PM
Unregistered
Guest
 
Posts: n/a
Default

You're welcome, yep paying off the mortgage should be a primary objective. Bonuses etc should go in immediately too which would stave off temptation to spend it.I would advise to keep your mortgage to 10 - 15 years timeframe and if anything were to happen least the roof over your head is secure.

With regard to taxi drivers don't be too quick to judge, driving a cab is a noble profession and in fact many down on their luck professionals do it. When life gives you lemons make lemonade as they say. There are also drivers who are retirees who just like to chat with many people and share their life stories (no different from the millionaires and billionaires who want to do the same). I know a guy who lives in a 10 M house and drives a taxi too so there are no one size fits all. Lets respect the taxi drivers and if we (touch wood) join their ranks we would want that respect too, if my seniors or peers snigger in my cab I would gladly drop them in the middle of the PIE and leave with a smile on my face.



Quote:
Originally Posted by Unregistered View Post
appreciate the advice, i think paying down our mortgage is the best option. once we finish paying, it will be ours and it becomes an asset. we can then rent it out when we reach 65, by then hdb rental would be at least $6k per month (in 30 years time) and we can retire in malaysia. i don't want to drive a taxi as this is a big insult for a highly educated degree holder. i rather retire in malaysia, thailand or even indonesia than to be seen by my senior executive peers driving a taxi. i will die out of shame.
Reply With Quote

  #4547 (permalink)  
Old 08-06-2014, 10:52 PM
Unregistered
Guest
 
Posts: n/a
Default

43/45 professional couple, middle income, $230k pa combined.
Home is a condo in D21, worth $1.6m, paid up.
Car is a 2L German marque, paid up.
Debt free.
Cash, CPF, stocks and other liquid investments, $900k.
Total net worth, $2.5m.
Reply With Quote
  #4548 (permalink)  
Old 09-06-2014, 01:28 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
appreciate the advice, i think paying down our mortgage is the best option. once we finish paying, it will be ours and it becomes an asset. we can then rent it out when we reach 65, by then hdb rental would be at least $6k per month (in 30 years time) and we can retire in malaysia. i don't want to drive a taxi as this is a big insult for a highly educated degree holder. i rather retire in malaysia, thailand or even indonesia than to be seen by my senior executive peers driving a taxi. i will die out of shame.
wtf ? I was just like you, afraid of shame. However, whe ni was retrenched when I was 40. I was lucky enough to inherit a landed pty from my parents. Life is good now. No more office politics. I drive cab from 7am till 2-3pm. Objective is to cover cab cost + $20-50 bucks a day for living expenses.

FYI, am a degree holder with honors. Nothing to be ashamed of. Life is great. Renting out my HDB flat for $3K/month.
Reply With Quote
  #4549 (permalink)  
Old 10-06-2014, 07:44 AM
Unregistered
Guest
 
Posts: n/a
Default

The advise of promptly paying down housing loans is not always good advise especially in today's low interest climate. There are such thing as good loans and bad loans. Housing loans are considered good loans and they are the only ones that come with the lowest interest rate. Banks give low interest rates because the collateral is the property the loan is taken for.

So let's say you have study loans, car loan, renovation loan and housing loan, your priority should be to pay off the ones with the highest interest rates. And after that, if you still have money left over, you should explore investing those money for higher returns than the housing loan rate.

In my case, I took a $1m loan for my condo and the interest was slightly above 1% pa. Instead of paring down the loan, I invested the money into blue chips and reits for 5% or more returns pa. Even my CPF OA gives 2.5%. Be nimble, not need to rush to pay off a good loan when you have one.

Quote:
Originally Posted by Unregistered View Post
You're welcome, yep paying off the mortgage should be a primary objective. Bonuses etc should go in immediately too which would stave off temptation to spend it.I would advise to keep your mortgage to 10 - 15 years timeframe and if anything were to happen least the roof over your head is secure.

With regard to taxi drivers don't be too quick to judge, driving a cab is a noble profession and in fact many down on their luck professionals do it. When life gives you lemons make lemonade as they say. There are also drivers who are retirees who just like to chat with many people and share their life stories (no different from the millionaires and billionaires who want to do the same). I know a guy who lives in a 10 M house and drives a taxi too so there are no one size fits all. Lets respect the taxi drivers and if we (touch wood) join their ranks we would want that respect too, if my seniors or peers snigger in my cab I would gladly drop them in the middle of the PIE and leave with a smile on my face.
Reply With Quote
  #4550 (permalink)  
Old 10-06-2014, 08:34 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
The advise of promptly paying down housing loans is not always good advise especially in today's low interest climate. There are such thing as good loans and bad loans. Housing loans are considered good loans and they are the only ones that come with the lowest interest rate. Banks give low interest rates because the collateral is the property the loan is taken for.

So let's say you have study loans, car loan, renovation loan and housing loan, your priority should be to pay off the ones with the highest interest rates. And after that, if you still have money left over, you should explore investing those money for higher returns than the housing loan rate.

In my case, I took a $1m loan for my condo and the interest was slightly above 1% pa. Instead of paring down the loan, I invested the money into blue chips and reits for 5% or more returns pa. Even my CPF OA gives 2.5%. Be nimble, not need to rush to pay off a good loan when you have one.
This is very good advice indeed.

It applies though to people who are 1. disciplined about not spending their excess cash and
2. investment savvy

Those who are prone to buying stuff to keep up with their friends / neighbours would be better off paying off their housing loan.
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 25 23-04-2021 10:40 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
Lawyer Salary ( 1 2 3... Last Page)
13,778 Replies, 4,638,208 Views
Roles in accenture singapore ( 1 2 3... Last Page)
2,026 Replies, 526,355 Views
How much are you earning per annum? ( 1 2 3... Last Page)
12,708 Replies, 4,363,531 Views
Compare civil service salary ( 1 2 3... Last Page)
12,644 Replies, 7,366,903 Views
MAS for Mid Career Professionals ( 1 2 3... Last Page)
484 Replies, 275,824 Views
MINDEF DXO (All FAQ on it) ( 1 2 3... Last Page)
4,086 Replies, 2,533,030 Views
If you can't find a company here... ( 1 2)
14 Replies, 1,668 Views
How is HTX Associate Programme... ( 1 2 3)
28 Replies, 7,363 Views
Starting Pay for CS/Ministries... ( 1 2 3... Last Page)
249 Replies, 111,648 Views
Career as Teacher ( 1 2 3... Last Page)
4,016 Replies, 2,512,031 Views
How is life as a doctor in... ( 1 2 3... Last Page)
2,787 Replies, 1,419,245 Views
Compilation of MAs/Analysts Gross... ( 1 2 3... Last Page)
737 Replies, 202,190 Views
Q: Big4 - Yearly salary increment ( 1 2 3... Last Page)
2,718 Replies, 1,293,846 Views
Breaking the Letter Of Commitment... ( 1 2 3)
29 Replies, 26,402 Views
Process Engineer Salary
3 Replies, 5,171 Views
Civil Svc/ Statboard - Typical... ( 1 2 3... Last Page)
3,914 Replies, 1,759,264 Views
Maybe it's rosy after all
1 Replies, 1,572 Views
Best-paying jobs in the US
1 Replies, 2,794 Views
Bad for dragon babies
1 Replies, 2,231 Views
NTU graduates starting pay
1 Replies, 5,441 Views
IT salary benchmark
1 Replies, 2,461 Views
Income tax child relief
1 Replies, 2,044 Views
Best paying jobs: Executive
2 Replies, 3,324 Views
Secret of Singapore's success
1 Replies, 1,843 Views
Get out of engineering
1 Replies, 2,535 Views
Top paying industry
1 Replies, 3,338 Views
Median income by age group
1 Replies, 8,099 Views
IT Salary Benchmarks
2 Replies, 1,605 Views
Salary Increment to be 5.2%
1 Replies, 3,679 Views
Millionaire Hawkers
3 Replies, 2,475 Views
Powered by vBadvanced CMPS v3.2.2



All times are GMT +8. The time now is 02:25 PM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2021, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.3.2