How much are you earning per annum? - Page 573 - 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
  #5721 (permalink)  
Old 23-10-2014, 06:54 PM
Unregistered
Guest
 
Posts: n/a
Talking

Quote:
Originally Posted by Unregistered View Post
Bonus month coming. Here's what I am going to do with my bonus.

1. Buy brand new car to replace my current old car.
2. Go one week holiday.
3. Buy some stocks.
4. Save for old age.
5. Donate.

What's your plans with your bonus?
You didn't plan to upgrade from your hdb to EC. Our resident agent is sorely dissapointed! Lol

Reply With Quote
  #5722 (permalink)  
Old 23-10-2014, 09:41 PM
Unregistered
Guest
 
Posts: n/a
Default

Looks like you are one of the many drivers who are buying a brand new car before the new year.

Quote:
Originally Posted by Unregistered View Post
Bonus month coming. Here's what I am going to do with my bonus.

1. Buy brand new car to replace my current old car.
2. Go one week holiday.
3. Buy some stocks.
4. Save for old age.
5. Donate.

What's your plans with your bonus?


Reply With Quote
  #5723 (permalink)  
Old 23-10-2014, 10:00 PM
Unregistered
Guest
 
Posts: n/a
Default

Demand for new cars are strong due to these factors:

1. Incomes are rising in general. Many families are dual income, so if husband and wife each earn $5k pm, their combined income will be $10k pm. So no problem buying a new car.

2. Fresh grads are earning higher starting salaries. So new demand from the younger crowd.

3. BTO flats are sold too cheaply, which means mortgage can be financed by CPF and no need to come out with cash. So many people have a lot of excess cash to buy new cars.

4. Many cars going to be scrapped so current car owners need to replace with brand new cars.

5. Property market has been good over the past few years. Many people make money after selling their HDB flat, they have lots of cash to buy new cars.



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


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


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
  #5724 (permalink)  
Old 23-10-2014, 11:54 PM
Unregistered
Guest
 
Posts: n/a
Default

31 year old female.
Earning 8K a month and about 1 months bonus.
However feel that the glass ceiling is coming soon.
Reply With Quote
  #5725 (permalink)  
Old 24-10-2014, 12:24 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Middle class couple in our mid 50s earning a combined salary of only $180k pa. Our home, a 3 bedroom condo, is paid up and now worth slightly more than $1.2m. We don't have any other investments (our condo is our best investment since we bought it at $600k in 2003), we only have cash and CPF savings. Our current net worth is about $1.8m. We hope to remain employed till 65. Upon 65, we hope to have a net worth of $2.5m. We will then downsize to a one bedroom condo unit and use the extra cash to buy dividend stocks. We will also get our CPF Life monthly money, so in total our monthly passive income will be $6k pm. I think this would be sufficient as we (my wife and I) just need the money for food, utilities, medical and public transport. We should be spending only $3k pm since we are debt free. Any comments on our retirement plan?
Retirement age is going to increase to 68. Life span also increase to 78.
If you retire at 68, your saving is definitely can see you through the next 10 years without any difficulty.
You can spend 200k first year, 220k second year, 240k, 260k, 280k,300k,320k,340k,360k and finally 380k. Total 2.7m. No problem.


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


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


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
  #5726 (permalink)  
Old 24-10-2014, 06:49 AM
Unregistered
Guest
 
Posts: n/a
Default

You forgot these other contributing factors:

1. People are going to retire later (beyond 62), so they will continue to buy new cars even they reached 55.

2. People who previously did not own cars will do so when they withdraw their CPF at 55 because they will continue to work for another 10 years.

3. Previously I was thinking of giving up my car to my son when he starts work, but now I tell him to buy his own because I will still be working and need my car. By the way, my wife has her own car because she said she also needs one for her work.

And now that the gahmen said they will cut the car population growth to 0.25%, I don't think the COE price is ever going back to $20k.

Quote:
Originally Posted by Unregistered View Post
Demand for new cars are strong due to these factors:

1. Incomes are rising in general. Many families are dual income, so if husband and wife each earn $5k pm, their combined income will be $10k pm. So no problem buying a new car.

2. Fresh grads are earning higher starting salaries. So new demand from the younger crowd.

3. BTO flats are sold too cheaply, which means mortgage can be financed by CPF and no need to come out with cash. So many people have a lot of excess cash to buy new cars.

4. Many cars going to be scrapped so current car owners need to replace with brand new cars.

5. Property market has been good over the past few years. Many people make money after selling their HDB flat, they have lots of cash to buy new cars.
Reply With Quote

  #5727 (permalink)  
Old 24-10-2014, 07:00 AM
Unregistered
Guest
 
Posts: n/a
Default

Don't be sour grape lah. This forum is for posters to share their incomes. If cannot tahan how much other people earn, then don't come here.

$1.8m net worth for a mid 50s couple is just so so only. They are wise to plan to continue working. Especially if they want to maintain their lifestyle in retirement. Once you are used to a certain lifestyle and level of comfort, cutting back on them is going to be painful and difficult.

Like giving up the car. Like moving into a smaller home, like not being able to eat out at restaurants etc...

Quote:
Originally Posted by Unregistered View Post
Retirement age is going to increase to 68. Life span also increase to 78.
If you retire at 68, your saving is definitely can see you through the next 10 years without any difficulty.
You can spend 200k first year, 220k second year, 240k, 260k, 280k,300k,320k,340k,360k and finally 380k. Total 2.7m. No problem.
Reply With Quote
  #5728 (permalink)  
Old 24-10-2014, 08:17 AM
Unregistered
Guest
 
Posts: n/a
Default

Many of my neighbors bought a brand new car. Their previous cars were close to 10 years old. Some even have two cars as both husband and wife need a car each for their work. I think many are waiting for their bonuses to get a new car before the lunar new year. COE prices likely to rise by 10% in the November and december COE bidding in order to secure the new cars before the new year. $20k COE is a thing of the past. Most people's salaries have doubled over the past 10 years and with inflation over the past 10 years, COE prices cannot be that low any more. If COE do hit $20k, then each Uni student can afford to buy a new car and this is not good as it leads to worsening traffic congestion.


Quote:
Originally Posted by Unregistered View Post
You forgot these other contributing factors:

1. People are going to retire later (beyond 62), so they will continue to buy new cars even they reached 55.

2. People who previously did not own cars will do so when they withdraw their CPF at 55 because they will continue to work for another 10 years.

3. Previously I was thinking of giving up my car to my son when he starts work, but now I tell him to buy his own because I will still be working and need my car. By the way, my wife has her own car because she said she also needs one for her work.

And now that the gahmen said they will cut the car population growth to 0.25%, I don't think the COE price is ever going back to $20k.


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


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


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
  #5729 (permalink)  
Old 24-10-2014, 09:07 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Don't be sour grape lah. This forum is for posters to share their incomes. If cannot tahan how much other people earn, then don't come here.

$1.8m net worth for a mid 50s couple is just so so only. They are wise to plan to continue working. Especially if they want to maintain their lifestyle in retirement. Once you are used to a certain lifestyle and level of comfort, cutting back on them is going to be painful and difficult.

Like giving up the car. Like moving into a smaller home, like not being able to eat out at restaurants etc...
You are absolutely right. Why should you lower quality of your living when you retire.
You work while you still having able body. Enjoy current lifestyle. Saving more for retirement. Spend less living time after retirement. Then what you have saved should able to last you another 10 years if you decide to retire at 68. I am the one who support working unless you are physically or mentally no more capable to work. Probably by the time I reach 68, government will decide retirement to be at 72. I will definitely support government's decision.
Reply With Quote
  #5730 (permalink)  
Old 24-10-2014, 09:16 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
If COE do hit $20k, then each Uni student can afford to buy a new car and this is not good as it leads to worsening traffic congestion.
No logic. Fixed number of COEs, so doesn't matter who owns the cars. The no. on the road will be the same.
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
Compare civil service salary ( 1 2 3... Last Page)
16,346 Replies, 12,459,016 Views
MAS for Mid Career Professionals ( 1 2 3... Last Page)
1,807 Replies, 1,045,692 Views
Q: Big4 - Yearly salary increment ( 1 2 3... Last Page)
15,325 Replies, 4,985,744 Views
Career as Teacher ( 1 2 3... Last Page)
10,857 Replies, 6,673,109 Views
GovTech ( 1 2 3... Last Page)
5,164 Replies, 2,165,231 Views
UOB Management Associate Program ( 1 2 3... Last Page)
1,459 Replies, 785,063 Views
NCS (SingTel subsidiary) ( 1 2 3... Last Page)
1,331 Replies, 1,142,735 Views
ITE Polytechnic Scheme ( 1 2 3... Last Page)
311 Replies, 369,585 Views
Why Is Having a Google Virtual...
1 Replies, 6,800 Views
How is life as a doctor in... ( 1 2 3... Last Page)
7,240 Replies, 3,400,198 Views
JP Morgan ( 1 2 3... Last Page)
199 Replies, 173,540 Views
Shopee fresh grad pay ( 1 2 3... Last Page)
1,050 Replies, 440,907 Views
Mining Industry ( 1 2 3... Last Page)
80 Replies, 74,557 Views
Civil Service Performance Bonus ( 1 2 3... Last Page)
5,340 Replies, 4,773,398 Views
Civil Service Current Estimated... ( 1 2 3... Last Page)
171 Replies, 309,710 Views
LTA (Land Transport Authority) ( 1 2 3... Last Page)
680 Replies, 389,122 Views
Lawyer Salary ( 1 2 3... Last Page)
21,015 Replies, 10,332,015 Views
ST Electronics ( 1 2 3... Last Page)
3,768 Replies, 1,545,642 Views
Is getting a PMP worth it ?
4 Replies, 7,180 Views
Visa Graduate Development Program ( 1 2 3... Last Page)
207 Replies, 134,748 Views
SIM-UOL fresh grad starting pay ( 1 2 3... Last Page)
6,922 Replies, 2,903,776 Views
Nparks ( 1 2 3... Last Page)
39 Replies, 34,444 Views
MINDEF DXO (All FAQ on it) ( 1 2 3... Last Page)
5,828 Replies, 4,657,918 Views
Constituency Manager (People... ( 1 2 3... Last Page)
989 Replies, 814,079 Views
Julius Baer Graduate Program 2023 ( 1 2 3)
21 Replies, 14,854 Views
Roles in accenture singapore ( 1 2 3... Last Page)
7,385 Replies, 2,325,269 Views
HTX (Home Team Science and... ( 1 2 3... Last Page)
752 Replies, 358,978 Views
DSTA (under Mindef) ( 1 2 3... Last Page)
1,464 Replies, 1,375,955 Views
IMDA (under MCI) ( 1 2 3... Last Page)
1,260 Replies, 613,996 Views
Civil Svc/ Statboard - Typical... ( 1 2 3... Last Page)
6,123 Replies, 3,739,519 Views
Powered by vBadvanced CMPS v3.2.2



All times are GMT +8. The time now is 07:36 PM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2024, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.3.2