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01-09-2014, 06:32 AM
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im 26 this year, earning $5k+ pm.. about $70-80k per year including bonuses.
using the .salary.sg calculator, im in the top 6.9% of earners in the 25-29 age group.
sure or not?
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01-09-2014, 09:12 AM
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Quote:
Originally Posted by anon
im 26 this year, earning $5k+ pm.. about $70-80k per year including bonuses.
using the .salary.sg calculator, im in the top 6.9% of earners in the 25-29 age group.
sure or not?
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Which industry? Local grad or FT?
My annual package when I were your age is only around 35k.
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01-09-2014, 09:39 AM
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46 & 48, $230k pa in total. Saves $50k pa.
Living in a condo in the OCR, worth $1m. $250k loan left.
School going kids in primary school.
Drives a 2L European car, $80k loan left.
Current total net worth, including the condo, $1.3m.
We plan to clear the mortgage in 20 years time.
How are we doing? Any suggestions how do we plan for our retirement?
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01-09-2014, 11:24 AM
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29 yrs old. 48kpa.
am I too low?
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01-09-2014, 01:22 PM
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Quote:
Originally Posted by Unregistered
29 yrs old. 48kpa.
am I too low?
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actually, it is very high. there are people in their 40s earning $35k pa.
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01-09-2014, 01:54 PM
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Quote:
Originally Posted by Unregistered
46 & 48, $230k pa in total. Saves $50k pa.
Living in a condo in the OCR, worth $1m. $250k loan left.
School going kids in primary school.
Drives a 2L European car, $80k loan left.
Current total net worth, including the condo, $1.3m.
We plan to clear the mortgage in 20 years time.
How are we doing? Any suggestions how do we plan for our retirement?
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You are a high powered couple, earning a very high income and living in a condo. Only 15% of Singaporeans live in condo our landed. 85% of Singaporeans live in HDB flats.
In 20 years time, you would have saved $1m cash and your condo mortgage would be cleared. Assuming your condo value rise from $1m to $1.2m over the 20 years, your net worth as a couple would be around $2.75m.
You can then sell your condo. You then have about $2.2m cash in hand. With the $2.2m cash, you can convert to RM and get about RM6 mil. You can retire like a rich tycoon in Malaysia. If you convert to Thai baht, you can retire like a Thai billionaire.
Or you can retire humbly in Singapore by investing the $2.2m cash in 4% dividend yield stocks which will give you $88k pa. Plus your CPF Life you will get an extra $36k pa. In total, you will get $124k pa in dividends. You can retire modestly with this passive income. Just make sure you don't gamble, own a car, employ a maid, drink, party, smoke or womanise. These are money drainers.
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01-09-2014, 01:55 PM
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Quote:
Originally Posted by Unregistered
actually, it is very high. there are people in their 40s earning $35k pa.
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I see. coz I see the previous post all like earning a lot. and compare to peers, I am consider the lowest.
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01-09-2014, 02:47 PM
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Typical graduate is clocking $50kpa.
Considering some in the 25 and 26 years old are still schooling in the uni, it is no surprise that you are among the top 6.9%
Do not be complacent, even if you managed to clock $100k by the time you are 30, see where you rank.
Quote:
Originally Posted by anon
im 26 this year, earning $5k+ pm.. about $70-80k per year including bonuses.
using the .salary.sg calculator, im in the top 6.9% of earners in the 25-29 age group.
sure or not?
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01-09-2014, 05:25 PM
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43, non grad, $56k pa.
Wife, 38, grad, $80k pa.
Savings, $20k pa.
Home - resale EC.
Car - small 1L old car.
Combined net worth, $800k.
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01-09-2014, 06:35 PM
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Why is everyone building passive income by liquidating assets and running to Malaysia or Thailand.
U get a shitty standard of living and u wanna spend the rest of your life this way?
IMO just spend whatever u have after liquidating, you deserved it Afterall. Don't think about passive income. That's too late for retirement.
If u wanna leave for your offspring, I suggest u don't. Cos u grew up fine without it, so will they.
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