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How much are you earning per annum?

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  #6621 (permalink)  
Old 03-02-2015, 12:23 AM
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earning 75k per year
nus pass degree
40 year old

married with 2 children
wife earning 60k per year
nus pass degree
38 year old

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  #6622 (permalink)  
Old 03-02-2015, 08:16 AM
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earning 75k per year
nus pass degree
40 year old

married with 2 children
wife earning 60k per year
nus pass degree
38 year old
Given your high combined income, do you plan to upgrade your home and buy a new car? What's your net worth and your wife's net worth?

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  #6623 (permalink)  
Old 03-02-2015, 01:23 PM
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46, millionaire, retired from corporate life, now fully occupied with trading, investing and managing family's wealth. 3 bedroom condo in the central area, fully paid up. One year old car fully paid up.

Make enough from dividends and profits to more than meet family's expenses. Hope to double our wealth over the next 10 years.

We don't travel on business class but on economy class. However we stick to 5 star hotels.

We are contented and happy with what we have.
Well done. You must have been a corporate high flyer to be where you are. It is very rare for people to amass enough wealth and capital to be able to generate good income from them. It is good to break away from being at the beck and call of other people.

You are my role model despite being much younger. I am also working towards financial independence. My passive income is now $68k pa, I need to be able to generate a passive income of $100k pa for my wife and I to be financially independent. We are in our early 50s.
Our condo home and car are paid up too and now we are building up our investment portfolio.

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  #6624 (permalink)  
Old 03-02-2015, 04:00 PM
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Originally Posted by Unregistered View Post
46, millionaire, retired from corporate life, now fully occupied with trading, investing and managing family's wealth. 3 bedroom condo in the central area, fully paid up. One year old car fully paid up.

Make enough from dividends and profits to more than meet family's expenses. Hope to double our wealth over the next 10 years.

We don't travel on business class but on economy class. However we stick to 5 star hotels.

We are contented and happy with what we have.
May I know which finance company you are from? Damn it smells like a template that my friends use when selling their financial products or those pop up ads when I am watching my porn....
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  #6625 (permalink)  
Old 03-02-2015, 04:01 PM
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43, $7.8k pm.
Wife, 38, $6k pm.
Lives in a renovated 4 room hdb flat (paid up).
We plan to sell our flat and then upgrade to a condo.
Can anyone recommend a nice 3 BR condo in the West region?
Our budget is $1.2m. We will sell our flat for $500k to pay for downpayment.
Our loan will be $700k over 25 years.
Thank you.
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  #6626 (permalink)  
Old 03-02-2015, 06:50 PM
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Hello, I have a local degree (1 year work experience) and am being offered 2.4k for a customer service job. is this acceptable?
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  #6627 (permalink)  
Old 03-02-2015, 07:18 PM
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Well done. You must have been a corporate high flyer to be where you are. It is very rare for people to amass enough wealth and capital to be able to generate good income from them. It is good to break away from being at the beck and call of other people.

You are my role model despite being much younger. I am also working towards financial independence. My passive income is now $68k pa, I need to be able to generate a passive income of $100k pa for my wife and I to be financially independent. We are in our early 50s.
Our condo home and car are paid up too and now we are building up our investment portfolio.
Thanks for your kind words. I worked very hard, day and night, even neglecting my wife and kids at times. After the death of someone close to me, it made me realize that life is short. I decided to quit my job and promised to myself to devote my life to my religion, wife and kids. I'm very happy now, much happier than during the days of earning big money. Money cannot buy happiness, you don't need so much. My kids told me that all the money in this world would not mean anything if they don't have me to be with them. That made me cry. Imagine a grown up macho man crying. Now I make money as well as have lots of bonding time with my wife and kids. I'm so happy now.

Your day will come. Just continue to save and invest. One day you will be there. All the best to you.


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  #6628 (permalink)  
Old 04-02-2015, 12:01 AM
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Given your high combined income, do you plan to upgrade your home and buy a new car? What's your net worth and your wife's net worth?
Living in a 5 room HDB house which is already an upgrade for us.
We come from a poor family and had lived in a 3 room flat for long (with parents).

Car is a luxury for our family. We are happy using MRT and bus.
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  #6629 (permalink)  
Old 04-02-2015, 05:04 AM
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Living in a 5 room HDB house which is already an upgrade for us.
We come from a poor family and had lived in a 3 room flat for long (with parents).

Car is a luxury for our family. We are happy using MRT and bus.
Don't despair. COE will come down in 1-2 years time to a more affordable level, probably below $30k. You can look forward to own a car soon. Cheers!
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  #6630 (permalink)  
Old 04-02-2015, 07:14 AM
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You repeated your post many times but there is no info on your net worth, where your passive income stream is coming from? You said your wife is still working? You said you made profits? Profits from trading? How much?

As you are only 46, there is still a long way to go. Looking at the trending of wage increases, what was once considered high in the past may not be so in the future. I recalled my Uni friends and I were in awe of what our boss was earning when we joined the company in the 80s. His salary was $8k pm while we were getting $1.5k. Now some young job entrants will earn this amount of $8k before they turn 30. $1m then was considered enough for retirement, but now people are unsure if $2m is enough.

Quote:
Originally Posted by Unregistered View Post
46, millionaire, retired from corporate life, now fully occupied with trading, investing and managing family's wealth. 3 bedroom condo in the central area, fully paid up. One year old car fully paid up.

Make enough from dividends and profits to more than meet family's expenses. Hope to double our wealth over the next 10 years.

We don't travel on business class but on economy class. However we stick to 5 star hotels.

We are contented and happy with what we have.
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