How much are you earning per annum? - Page 706 - 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
  #7051 (permalink)  
Old 08-03-2015, 10:40 PM
Unregistered
Guest
 
Posts: n/a
Default

Hi,

What do you work as?
Given your HH income, it is best you sell your HDB flat and upgrade to a condo in the Orchard vicinity. You have to budget and buy within your means though. A decent Orchard condo but on the lower price range would be about $4m. Don't go for those above $5m as they are beyond your income level.


Quote:
Originally Posted by Unregistered View Post
My wife and I are working professionals in our early 40s / late 30s
Salary $640K for me and $210k for wife, save about $400k pa
Own a 5-room HDB flat worth about $800k fully paid
1 SG and 2 overseas invt properties worth $2.7m with net equity around $700K (loan amt of $2m).
Other liquid invts (UTs, hedge funds) about $3m
CPF $400K
2nd hand car just past 7 year mark, around $50K mkt value (fully paid)
Networth just past $5m

Reply With Quote
  #7052 (permalink)  
Old 09-03-2015, 08:24 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Hi,

What do you work as?
Given your HH income, it is best you sell your HDB flat and upgrade to a condo in the Orchard vicinity. You have to budget and buy within your means though. A decent Orchard condo but on the lower price range would be about $4m. Don't go for those above $5m as they are beyond your income level.
I sense sour grapes here and in a previous post..if you are really sincere in giving advice / comments, then you should be asking how he got himself into this state of wealth / income, what was his background (was he born into wealth or thru' his own efforts) and so on..

Reply With Quote
  #7053 (permalink)  
Old 09-03-2015, 09:06 AM
Unregistered
Guest
 
Posts: n/a
Default

I've been following this salary forum and saw many postings of people with high incomes and lots of wealth. Looks like the typical contributor here are among the highest earners in Singapore. Is this reflective of the general population or a case of sharing mainly by the successful ones while the less successful are just readers.

Let me share our situation.

We are 46 & 44 respectively, professionals in not so glamorous fields. I earn $75k pa while spouse earns $70k pa. We live in a paid up 4 room hdb flat (our first and only home). We drive a 8 year old small car. Our combined net worth, including our flat, is $700k at most.

How are we doing? Are you similar to us or doing much better? Are we among the average or way below our peers? If you are in our age group, please do share. Thanks.

Reply With Quote
  #7054 (permalink)  
Old 09-03-2015, 10:02 AM
Unregistered
Guest
 
Posts: n/a
Default

I will post a low net worth reply

Currently 31, sole breadwinner with one child. Local Uni Grad earning close to $100k pa. Staying in HDB and does not own a car. Total net worth estimated around $175,000.

Some of my expenses include short overseas trip to asian countries once to twice a year, monthly contribution of $650 to both side parents and monthly fixed + variable bills around to $500.
Reply With Quote
  #7055 (permalink)  
Old 09-03-2015, 10:42 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
I will post a low net worth reply

Currently 31, sole breadwinner with one child. Local Uni Grad earning close to $100k pa. Staying in HDB and does not own a car. Total net worth estimated around $175,000.

Some of my expenses include short overseas trip to asian countries once to twice a year, monthly contribution of $650 to both side parents and monthly fixed + variable bills around to $500.
Earning $100k pa at the age of 31 is actually very good. Assuming your earnings continue to rise and you maintain your current humble lifestyle, you should be able to save $80k pa over the next 34 years until you retire at 65. You would have saved $2.72m over 34 years of working and you will retire a rich millionaire. To achieve this, you should take public transport and remain staying in your flat for the rest of your life even though your income rise to $300k pa.
Reply With Quote
  #7056 (permalink)  
Old 09-03-2015, 04:39 PM
Unregistered
Guest
 
Posts: n/a
Default

You are the typical couple in their 40s. You own a home, dual income and own a car. Even though your net worth is not as high as those who posted here (not sure whether those claims are true any how), you both are indeed on the right track towards retirement. Here are steps to ensure you will be able to retire well.

1. Make sure both you and wife each go for the $241,500 CPF Life scheme option. This will ensure you will get $3500 pm as a couple ($1750 pm each).

2. You can rent two of your spare rooms during retirement. You should get $1000 pm for each room or $2000 pm for two rooms.

3. Save enough cash to invest in 5% dividend yield blue chips, high quality stocks. If you have $240k invested, you will get $12k pa in dividends or $1000 pm.

4. Ask your kids to each contribute $1000 pm. If you have two kids, you get $2000 pm.

So, in total your passive income as a retired couple is $8500 pm or $102,000 pa.

So, as you can see, with careful planning, you can retire well. Just make sure you don't waste money gambling, drinking, partying, womanising, expensive holidaying, etc.


Quote:
Originally Posted by Unregistered View Post
I've been following this salary forum and saw many postings of people with high incomes and lots of wealth. Looks like the typical contributor here are among the highest earners in Singapore. Is this reflective of the general population or a case of sharing mainly by the successful ones while the less successful are just readers.

Let me share our situation.

We are 46 & 44 respectively, professionals in not so glamorous fields. I earn $75k pa while spouse earns $70k pa. We live in a paid up 4 room hdb flat (our first and only home). We drive a 8 year old small car. Our combined net worth, including our flat, is $700k at most.

How are we doing? Are you similar to us or doing much better? Are we among the average or way below our peers? If you are in our age group, please do share. Thanks.
Reply With Quote

  #7057 (permalink)  
Old 09-03-2015, 05:18 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
You are the typical couple in their 40s. You own a home, dual income and own a car. Even though your net worth is not as high as those who posted here (not sure whether those claims are true any how), you both are indeed on the right track towards retirement. Here are steps to ensure you will be able to retire well.

1. Make sure both you and wife each go for the $241,500 CPF Life scheme option. This will ensure you will get $3500 pm as a couple ($1750 pm each).

2. You can rent two of your spare rooms during retirement. You should get $1000 pm for each room or $2000 pm for two rooms.

3. Save enough cash to invest in 5% dividend yield blue chips, high quality stocks. If you have $240k invested, you will get $12k pa in dividends or $1000 pm.

4. Ask your kids to each contribute $1000 pm. If you have two kids, you get $2000 pm.

So, in total your passive income as a retired couple is $8500 pm or $102,000 pa.

So, as you can see, with careful planning, you can retire well. Just make sure you don't waste money gambling, drinking, partying, womanising, expensive holidaying, etc.
Thanks for the advise. Me & my wife also would like to fulfill our dreams to own a nice car. Do you think it's affordable for us to buy a entry conti car? We are retiring and would like to enjoy our fruits of labor. That's what many of our retiring friends are doing as they cash out their retirement funds, even at today's crazy COE prices.
Reply With Quote
  #7058 (permalink)  
Old 09-03-2015, 05:28 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Hi,

What do you work as?
Given your HH income, it is best you sell your HDB flat and upgrade to a condo in the Orchard vicinity. You have to budget and buy within your means though. A decent Orchard condo but on the lower price range would be about $4m. Don't go for those above $5m as they are beyond your income level.
We both work in finance, non-revenue generating functions.

We don't subscribe to "keeping up with the joneses" just because of our HH income. have 2 kids and elderly parents to look after, and living with us. Obligations are quite substantial and trying to sock away as much as we can, so that our retirement could be assured.

We like our HDB flat and have a few invt properties, but don't feel we are much better than the average HDB heartlander. We still pinch pennies and cut out supermarket coupons, we take the mrt to work, our kids go to "non-elite" schools with some tuition. We have a maid whom we found necessary to clean the house and look after the young and old folks during the day.
Reply With Quote
  #7059 (permalink)  
Old 09-03-2015, 06:00 PM
Unregistered
Guest
 
Posts: n/a
Default

Your salary is typical of a foreign bank senior executive director (500+k) in charge of regional function. Your wife should be at VP level (300+k).
Many high earners in banking sector are as humble and down to earth as you, because they are building a big nest to retire early. Most aim to hit 10m (husband and wife combined net worth) before 45. You are half way there, congras

Quote:
Originally Posted by Unregistered View Post
We both work in finance, non-revenue generating functions.

We don't subscribe to "keeping up with the joneses" just because of our HH income. have 2 kids and elderly parents to look after, and living with us. Obligations are quite substantial and trying to sock away as much as we can, so that our retirement could be assured.

We like our HDB flat and have a few invt properties, but don't feel we are much better than the average HDB heartlander. We still pinch pennies and cut out supermarket coupons, we take the mrt to work, our kids go to "non-elite" schools with some tuition. We have a maid whom we found necessary to clean the house and look after the young and old folks during the day.
Reply With Quote
  #7060 (permalink)  
Old 09-03-2015, 06:02 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
You are the typical couple in their 40s. You own a home, dual income and own a car. Even though your net worth is not as high as those who posted here (not sure whether those claims are true any how), you both are indeed on the right track towards retirement. Here are steps to ensure you will be able to retire well.

1. Make sure both you and wife each go for the $241,500 CPF Life scheme option. This will ensure you will get $3500 pm as a couple ($1750 pm each).

2. You can rent two of your spare rooms during retirement. You should get $1000 pm for each room or $2000 pm for two rooms.

3. Save enough cash to invest in 5% dividend yield blue chips, high quality stocks. If you have $240k invested, you will get $12k pa in dividends or $1000 pm.

4. Ask your kids to each contribute $1000 pm. If you have two kids, you get $2000 pm.

So, in total your passive income as a retired couple is $8500 pm or $102,000 pa.

So, as you can see, with careful planning, you can retire well. Just make sure you don't waste money gambling, drinking, partying, womanising, expensive holidaying, etc.
I am not sure if it is fair for us as parents to count in $1k per child as allowance for the rest of our lives...

I did not have my children so that they can take care of me when I am old. That is applicable to a farming society perhaps. We have children because we wnT someone to love and to accomplish what we could or did not.

I think it is best to just ask our children to come back for meals at least once a week even after they get married. That would be enough for me
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
LTA (Land Transport Authority) ( 1 2 3... Last Page)
1,114 Replies, 654,363 Views
Lawyer Salary ( 1 2 3... Last Page)
22,218 Replies, 12,014,838 Views
Q: Big4 - Yearly salary increment ( 1 2 3... Last Page)
21,540 Replies, 6,580,126 Views
How is life as a doctor in... ( 1 2 3... Last Page)
10,103 Replies, 4,200,317 Views
Compare civil service salary ( 1 2 3... Last Page)
16,833 Replies, 14,158,941 Views
Civil Service Performance Bonus ( 1 2 3... Last Page)
5,568 Replies, 5,359,258 Views
HTX (Home Team Science and... ( 1 2 3... Last Page)
1,147 Replies, 653,888 Views
DSTA (under Mindef) ( 1 2 3... Last Page)
1,833 Replies, 1,716,472 Views
Mining Industry ( 1 2 3... Last Page)
81 Replies, 84,606 Views
Hospital (Private or Public)... ( 1 2 3... Last Page)
1,347 Replies, 698,084 Views
GovTech ( 1 2 3... Last Page)
7,171 Replies, 3,120,587 Views
Civil Svc/ Statboard - Typical... ( 1 2 3... Last Page)
7,194 Replies, 4,472,495 Views
Roles in accenture singapore ( 1 2 3... Last Page)
8,708 Replies, 2,961,072 Views
ST Electronics ( 1 2 3... Last Page)
4,146 Replies, 1,943,890 Views
NCS (SingTel subsidiary) ( 1 2 3... Last Page)
1,665 Replies, 1,421,535 Views
IMDA (under MCI) ( 1 2 3... Last Page)
1,667 Replies, 962,434 Views
Career as Teacher ( 1 2 3... Last Page)
12,407 Replies, 8,109,610 Views
Factual Local Bank Salaries - DBS... ( 1 2 3... Last Page)
2,048 Replies, 1,836,457 Views
merit increment in civil service ( 1 2 3... Last Page)
291 Replies, 358,086 Views
MINDEF DXO (All FAQ on it) ( 1 2 3... Last Page)
6,518 Replies, 5,418,541 Views
Anyone jobless for a long time... ( 1 2 3... Last Page)
3,566 Replies, 2,083,938 Views
MAS for Mid Career Professionals ( 1 2 3... Last Page)
2,588 Replies, 1,374,398 Views
JP Morgan ( 1 2 3... Last Page)
224 Replies, 232,514 Views
UOB Management Associate Program ( 1 2 3... Last Page)
1,506 Replies, 930,587 Views
CSA (Cyber Security Agency) ( 1 2 3... Last Page)
1,116 Replies, 703,522 Views
How much are you earning per annum? ( 1 2 3... Last Page)
14,508 Replies, 7,187,443 Views
Capitaland Graduate Development... ( 1 2 3... Last Page)
31 Replies, 55,020 Views
Preparing for Secondary School
4 Replies, 1,088 Views
Ex-MOE Teachers ( 1 2 3... Last Page)
460 Replies, 607,358 Views
Powered by vBadvanced CMPS v3.2.2



All times are GMT +8. The time now is 02:01 PM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2025, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.3.2