How much are you earning per annum?

Originally Posted by Unregistered

How many times this same person going to post the same thing? If not mistaken it is the 25th times since 5 May 2014.

It's probably the same person who is posting as the car sales men claiming COE will continue to rise with 300.000 buyers....

Nothing better to do then to increase the readership count of this topic..

Hi,

Good morning. You have done quite well. For you to retire, you need passive income that covers your expenses. In your case, you may need to downgrade to a studio condo or a flat, depending on your preferences. You then can get cash for you to invest to give 5% dividend yield. If you have get $500k from your downgrade and another $500k from your cash savings, you will have $1m which can give you $50k pa dividend. When you reach 65, you and wife will get $2400 pm ($28.8k pa) combined. If your children gives you $12k pa combined, your total passive income will be $90,800 pa or $7.5k pm. Since you should be debt free by then, your passive income would be more than enough for retirement. So don't worry.

Originally Posted by Unregistered

Lower middle income couple, 47/49, combined income from both active and passive sources (including returns from CPF), $170k pa. Savings $30k pa.
Humble condo worth $1.1m, loan outstanding $230k.
Car worth only $120k, no loan. Holidays, twice a year, $20k pa.
Children are in secondary schools.
Combined net worth, $1.5m.
How are we doing?
Any financial gurus care to comment?
How can we prepare for retirement at 60?
Thank you.

Originally Posted by Unregistered

How many times this same person going to post the same thing? If not mistaken it is the 25th times since 5 May 2014.

Wow, you even bother to track. I dun even give a **** about how many times he posted. I just scroll thru it when I pang sai inside toilet.

Originally Posted by Unregistered

Wow, you even bother to track. I dun even give a **** about how many times he posted. I just scroll thru it when I pang sai inside toilet.

You should do what i do, i print out his postings and use it to wipe my poop after pangsai, and it keeps the bottom fresh and supple-soft

3rd class honours from local uni
39 year old

$75k per annum (includes all the bonuses)

Just a friendly reminder to all high earners out there, especially those in the finance sector. Companies are restructuring and firing people. So if you are earning more than $100k pa and above 40 years old, don't be complacent. You never know when it your turn. Sometimes you may be the best employee but if your job is irrelevant due to structural changes in the company, you will be made redundant. So please don't go around showing off to people how much you're making. I see many in this forum like to show off, especially the guy who brag saving $350k pa. Don't be too happy. You are too expensive and can easily be replaced. No one is special, anyone can be replaced even the CEO. Be humble and help the poor.

Those of you who are still servicing mortgages for your home, I suggest you do something. Work on being debt free if it means you have to downgrade. Don't buy properties in the CCR as these properties are overvalued and will only go down in value. If you own a condo in D9 which you bought for $2m and with a $1m mortgage, I suggest you just sell it off, pay off the mortgage and buy a cheap $1m condo in the OCR and be debt free. Don't care what people say or look down on you. If you want to own a car, don't buy the expensive, over inflated brands which cost $200k or more and you have to take a loan of $100k. Instead just buy a cheap brand car costing $100k - $120k and pay in cash with no loan. Be debt free.

So, if you get retrenched tomorrow, you don't worry about your mortgage and other loan commitment. You won't feel so stressed up as you are debt free.

Be humble. Be debt free.

I supposed you are always in wonder why there are rich people and there are ordinary people.

In any given situation, a resourceful and capable person will see opportunities while a fearful person will see only the challenges and the bad outcomes.

Do you know that in this very climate where falling oil prices caused the fall in prices of many O&G related shares, there are many people out there picking them up? One group sees gloom and doom, another sees opportunities to load up on the stocks.

Just like in 2008/9 subprime crisis, many sold off their homes, but others picked them up at bargain prices and became rich when the economy recovered.

So, yes, do not overspend, and do not take unnecessary risks, but do not fear and do not retreat like a turtle into its shell.

Originally Posted by Unregistered

Just a friendly reminder to all high earners out there, especially those in the finance sector. Companies are restructuring and firing people. So if you are earning more than $100k pa and above 40 years old, don't be complacent. You never know when it your turn. Sometimes you may be the best employee but if your job is irrelevant due to structural changes in the company, you will be made redundant. So please don't go around showing off to people how much you're making. I see many in this forum like to show off, especially the guy who brag saving $350k pa. Don't be too happy. You are too expensive and can easily be replaced. No one is special, anyone can be replaced even the CEO. Be humble and help the poor.

Those of you who are still servicing mortgages for your home, I suggest you do something. Work on being debt free if it means you have to downgrade. Don't buy properties in the CCR as these properties are overvalued and will only go down in value. If you own a condo in D9 which you bought for $2m and with a $1m mortgage, I suggest you just sell it off, pay off the mortgage and buy a cheap $1m condo in the OCR and be debt free. Don't care what people say or look down on you. If you want to own a car, don't buy the expensive, over inflated brands which cost $200k or more and you have to take a loan of $100k. Instead just buy a cheap brand car costing $100k - $120k and pay in cash with no loan. Be debt free.

So, if you get retrenched tomorrow, you don't worry about your mortgage and other loan commitment. You won't feel so stressed up as you are debt free.

Be humble. Be debt free.

You are missing my point. What I'm saying is we should not be overleveraged, especially when it comes to your home and car. If you buy both of these in cash with no loan, then you have less to worry and less to spend. If you are debt free, then you can save more and invest. If you are spending took much to service your debt, you won't have much to save and invest. Your job is never certain. You can always be let go at any time. So be humble.

Originally Posted by Unregistered

I supposed you are always in wonder why there are rich people and there are ordinary people.

In any given situation, a resourceful and capable person will see opportunities while a fearful person will see only the challenges and the bad outcomes.

Do you know that in this very climate where falling oil prices caused the fall in prices of many O&G related shares, there are many people out there picking them up? One group sees gloom and doom, another sees opportunities to load up on the stocks.

Just like in 2008/9 subprime crisis, many sold off their homes, but others picked them up at bargain prices and became rich when the economy recovered.

So, yes, do not overspend, and do not take unnecessary risks, but do not fear and do not retreat like a turtle into its shell.

Job: Banking-Technology, Director level

Annual pay: SGD 240K basic

Originally Posted by Unregistered

Just a friendly reminder to all high earners out there, especially those in the finance sector. Companies are restructuring and firing people. So if you are earning more than $100k pa and above 40 years old, don't be complacent. You never know when it your turn. Sometimes you may be the best employee but if your job is irrelevant due to structural changes in the company, you will be made redundant. So please don't go around showing off to people how much you're making. I see many in this forum like to show off, especially the guy who brag saving $350k pa. Don't be too happy. You are too expensive and can easily be replaced. No one is special, anyone can be replaced even the CEO. Be humble and help the poor.

Those of you who are still servicing mortgages for your home, I suggest you do something. Work on being debt free if it means you have to downgrade. Don't buy properties in the CCR as these properties are overvalued and will only go down in value. If you own a condo in D9 which you bought for $2m and with a $1m mortgage, I suggest you just sell it off, pay off the mortgage and buy a cheap $1m condo in the OCR and be debt free. Don't care what people say or look down on you. If you want to own a car, don't buy the expensive, over inflated brands which cost $200k or more and you have to take a loan of $100k. Instead just buy a cheap brand car costing $100k - $120k and pay in cash with no loan. Be debt free.

So, if you get retrenched tomorrow, you don't worry about your mortgage and other loan commitment. You won't feel so stressed up as you are debt free.

Be humble. Be debt free.

Fully agree. Hongkong property can down by 50% in 97, Singapore property can down by same margin in 2015, given the fact for past 6 years it had gone up by 3 folds.

When economy no good, senior managers earning more than average will be axed first.
Oil price drop, those working in oil and gas industries, who will be axed first?
Share market not performing, who face the music?

So for those who earn more than 350k, degear or your sweet home will go for fire sale!