How much are you earning per annum?

There are many levels of comparison here, which are you comparing with?

1. Individual Salary?
2. Household income?
3. Net worth?
4. Type and size of housing?
5. No. Of kids?
6. job title?

As you can see, you may lose on some but win on others. I may earn more than my staff, but I still stay in HDB because we are single income household, but my staff are staying in condos.

We have 2 kids but some of my staff don't have kids but have 2 cars instead.

Originally Posted by Unregistered

Both are salaried employees, earning $103k and $100k. 46, 44 yo.
Upgraded to a condominium unit some years ago. Condo unit is now worth $1.1m, mortgage outstanding $500k. Our achievement is considered average at best. Many of our friends doing much better.

Originally Posted by Unregistered

There are many levels of comparison here, which are you comparing with?

1. Individual Salary?
2. Household income?
3. Net worth?
4. Type and size of housing?
5. No. Of kids?
6. job title?

As you can see, you may lose on some but win on others. I may earn more than my staff, but I still stay in HDB because we are single income household, but my staff are staying in condos.

We have 2 kids but some of my staff don't have kids but have 2 cars instead.

And I may be earning $0 but born with a diamond spoon. There's no end if you want to compare different circumstances. Everyone's circumstances are unique to himself.

What I think is worth comparing, however, are (1) gross annual income and (2) gross annual household income. For (2), if it's even possible, we can compare the "per capita" version of household income, but unfortunately, based on what I see, people are just not sharing such info. Maybe not yet. So I shall start... my per capita household income is $110k/year ($550k divided by 5 people in the house).

How much are you earning? Why is your wife not working? Is she a foreigner or lowly educated or has health issues?

Originally Posted by Unregistered

There are many levels of comparison here, which are you comparing with?

1. Individual Salary?
2. Household income?
3. Net worth?
4. Type and size of housing?
5. No. Of kids?
6. job title?

As you can see, you may lose on some but win on others. I may earn more than my staff, but I still stay in HDB because we are single income household, but my staff are staying in condos.

We have 2 kids but some of my staff don't have kids but have 2 cars instead.

43k annual income
3 years exp in accounting
26 this year

Degree holder

Am i doing okay?
i know a lot of my peers earning much more in other field.

Originally Posted by Unregistered

And I may be earning $0 but born with a diamond spoon. There's no end if you want to compare different circumstances. Everyone's circumstances are unique to himself.

What I think is worth comparing, however, are (1) gross annual income and (2) gross annual household income. For (2), if it's even possible, we can compare the "per capita" version of household income, but unfortunately, based on what I see, people are just not sharing such info. Maybe not yet. So I shall start... my per capita household income is $110k/year ($550k divided by 5 people in the house).

Good suggestion.
Husband is a ..... age .... total income per yr (not inclusive of bonus) .... bonus ....
Wife is a ..... age .... total income per yr (not inclusive of bonus) .... bonus ....
Son(1) is a ..... age .... total income per yr (not inclusive of bonus) .... bonus ....
Son(2) is a ..... age .... total income per yr (not inclusive of bonus) .... bonus ....
Daughter is a ..... age .... total income per yr (not inclusive of bonus) .... bonus ....
Total income is ... Total bonus is ....
Total expenses for family (CPF, Insurance, taxes, house installment, car installment) ....
Total expenses for family (car maintenance, house maintenance)....
Total expenses for family (sundries, food and eating out, recreation and entertainment, oversea trip)....
Total saving for the year .....

Asset husband (houses worth ..., outstanding loan ... car present value ... outstanding loan ...Bonds...share...FD/saving...)
Asset wife (houses worth ..., outstanding loan ... car present value ... outstanding loan ...Bonds...share...FD/saving...)
Asset son (houses worth ..., outstanding loan ... car present value ... outstanding loan ...Bonds...share...FD/saving...)
Asset daughter (houses worth ..., outstanding loan ... car present value ... outstanding loan ...Bonds...share...FD/saving...)

My family net worth as per 31.12.2013 is ......

To make such a comparison is more comprehensive and carry more meaning........

Typical, middle income family in our late forties, $190k pa combined. Two school going children. Sold our flat in 2002 and bought a condo. Loan $250k, worth $1.2m. Total net worth only $2.2m. We are just a typical, average graduate Singaporean family.

Originally Posted by Unregistered

And I may be earning $0 but born with a diamond spoon. There's no end if you want to compare different circumstances. Everyone's circumstances are unique to himself.

What I think is worth comparing, however, are (1) gross annual income and (2) gross annual household income. For (2), if it's even possible, we can compare the "per capita" version of household income, but unfortunately, based on what I see, people are just not sharing such info. Maybe not yet. So I shall start... my per capita household income is $110k/year ($550k divided by 5 people in the house).

since you earn so much, why not you buy a nassim GCB? it is suitable for you and your big kids.

Originally Posted by Unregistered

It was borne out of necessity that people are building up their own "pension" to sustain their retirement. Gone are the days where there were pensions to take care of people when they retire. Now, only a select group of civil servants have pensions. For the rest of us, we are on our own in our retirement.

Building up a solid investment that can provide sustainable passive income that besides being adequate, and can keep up with inflation takes time and substantial amount of money. It is therefore important to start the process of building up this fund early in your working life. Don't leave it till its too late.

in our case we started building up our investments late. When we started work, there was no Internet and information on investments and retirement were scant. To be honest, we also didn't bother with it. We now regretted not paying attention to this when younger.

But luckily for us, when we bought a bigger property to house our growing family, we didn't sell off our first property. Instead we rented it out to generate some income. A few years later, the estate went enbloc and we got back 2.5 times what we paid. With that, we bought yet another property to rent out.

And over the years, as our salaries grew, we were more able to save and invest.

To cut the long story short, after 30 long years of working, we have now 3 sources of passive incomes - property rental, dividends from stocks and interest from endowments, single premium insurances, bonds and CPF. This year, we are expecting $120k passive income in total. To us, this will be our "pension".

Our advise - start building up your investment now when you still have a lot of time!

I am now retired for more than a year. I bought 2 terrace houses total 4500sf in 1987 and 2003 respectively. Both fully paid. I have a portfolio of investment, FD, bonds and collectibles. My income now comprises of pension, rental,dividends from mostly Reits, interest income,and contribution from my children which I never decline.

My son earns very good pay. He bought a 3000sf terrace house in 2006. He is giving 4k to my wife every month.

My daughter is a medical specialist, married a medical consultant. Both are now residing and practicing in UK. If both of them decide to come back and practice here, they should be earning not less than 500k each a year. They are now giving 5k a month to my wife.

What I want to say here is nothing is impossible to achieve financial goal. You just need to have set of well plan strategy, and regular explore good investment opportunity. Don't neglect your children's up bringing. You will be rewarded.

Originally Posted by Unregistered

I am now retired for more than a year. I bought 2 terrace houses total 4500sf in 1987 and 2003 respectively. Both fully paid. I have a portfolio of investment, FD, bonds and collectibles. My income now comprises of pension, rental,dividends from mostly Reits, interest income,and contribution from my children which I never decline.

My son earns very good pay. He bought a 3000sf terrace house in 2006. He is giving 4k to my wife every month.

My daughter is a medical specialist, married a medical consultant. Both are now residing and practicing in UK. If both of them decide to come back and practice here, they should be earning not less than 500k each a year. They are now giving 5k a month to my wife.

What I want to say here is nothing is impossible to achieve financial goal. You just need to have set of well plan strategy, and regular explore good investment opportunity. Don't neglect your children's up bringing. You will be rewarded.

How come your daughter so stingy? They both earn $1m pa in total and yet give only $60k pa. That's insulting after spending your hard earned money in raising and educating her. No filial piety.

Originally Posted by Unregistered

How come your daughter so stingy? They both earn $1m pa in total and yet give only $60k pa. That's insulting after spending your hard earned money in raising and educating her. No filial piety.

Pay in UK is not that high. Moreover the taxes are extremely high, coupled with their own housing mortgage. BTW, we are not that hard up and we take it as good gesture of appreciation.