How much are you earning per annum? - Page 729 - 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
  #7281 (permalink)  
Old 16-04-2015, 09:23 AM
Unregistered
Guest
 
Posts: n/a
Default

It is wise to continue working as long as you can. Should try not to count on your children contributions to household expenses as they will need to start off their own lives and families.

How much would you need to generate the $6k pm passive income and how far away are you from it now?

From my experience, if you are depending on stocks dividends for passive income, it is a slow and challenging process.

For eg. to grow a passive income from $40k pa to $45K pa at 5% dividend returns, you will need to invest another $100k ! (or from $800k to $900K investment!). Meaning for every additional $5k pa returns, you will need to inject $100K investment!

The initial steps or build up was difficult for us, but with constant re-investment of our dividends and savings, you will start to see the real impact/benefit of compounding returns in the later years. We have now achieved $120k pa. moving slowly but surely to our goal of $150k pa.

The compounding effect kicks in because you find your passive incomes more than adequate to cover your annual expenses leaving you to save all of your yearly incomes! And when you invest these savings yearly, the returns really grow and fast! Imagine how fast it can grow for a couple earning more than $300K pa combined. If they invest this amount yearly, it gets them conservatively $15k additional passive income every year. And some more this does not include the capital appreciation!



Quote:
Originally Posted by Unregistered View Post
We are in our mid 50s and plan to retire soon. Currently I make $130k pa while my spouse makes $139k pa. We own a 2 year old condo valued at $1.4m and it is fully paid. Our children are now grown ups. We will retire once we generate a passive income of $6k pm as we estimate that we will need $4k pm for the two of us. Our children contribute to the household expenses plus they gives us a monthly allowance.



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


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
  #7282 (permalink)  
Old 16-04-2015, 11:39 AM
Unregistered
Guest
 
Posts: n/a
Default

COE tsunami coming..... time to get my $30k COE..... Huat ah!

PAP all the way!!

----------


per bidding exercise frm May to Jul:
up 44.6% or 440 more Cat A, or total 1426!!
up 28.5% or 206 more Cat B, or total 928!!

Reply With Quote
  #7283 (permalink)  
Old 16-04-2015, 05:07 PM
Unregistered
Guest
 
Posts: n/a
Default

Actually most of the supply comes from replacement supply which means those who scrapped their cars will be back in the market for new cars. This is my take.

If you noticed carefully, the recent biddings for Cat A COE is about 2200. This indicates the demand. So with supply of 1400 +, demand is still a lot higher than supply.

COE prices will continue to rise. Better grab your new car with guaranteed COE as COE will inevitably go higher due to high demand. Demand is driven by higher household income compared to 10 years ago, higher property market price compared to 10 years ago (many profit from BTO flat flipping), higher stock market, social status, families with 2, 3 or 4 cars and many more demand factors driving COE prices higher. Cat A COE at $67k is still cheap since in 2013 it went as high as $90k and I predict it will go to that level again.



Quote:
Originally Posted by Unregistered View Post
COE tsunami coming..... time to get my $30k COE..... Huat ah!

PAP all the way!!

----------


per bidding exercise frm May to Jul:
up 44.6% or 440 more Cat A, or total 1426!!
up 28.5% or 206 more Cat B, or total 928!!

Reply With Quote
  #7284 (permalink)  
Old 16-04-2015, 05:52 PM
Super Member
 
Join Date: Aug 2010
Posts: 335
lazyplane is on a distinguished road
Default

I have read the various posts about COE and at this stage, i am of the view that COE supply will have to outstrip demand eventually.

Fundamentally, COE supply is a lagging market. There must be come a time when there are more allocated COE supply (because the number of cars being scrapped in previous quarter) than demand + car growth need. The only issue is when this will happen ie Q3 2015 or 2016/2017 etc

Predicting what is the COE price when this happen and what is a fundamental economic COE price is a separate topic. Many factors come into price and many of the reasons have been listed .. eg affluence of the families etc etc.

If COE is to go down to $30 k, i think the COE over supply situation must happen, and interest rate must have really spike. Is it possible ? well, i think in today world, never say never.

Another situation is if COE supply situation occurs but interest rate remain low eg below 2% , would COE price come down ? My own view is that this is the most likely situation and we will see COE hovering at $40-70k



Quote:
Originally Posted by Unregistered View Post
Actually most of the supply comes from replacement supply which means those who scrapped their cars will be back in the market for new cars. This is my take.

If you noticed carefully, the recent biddings for Cat A COE is about 2200. This indicates the demand. So with supply of 1400 +, demand is still a lot higher than supply.

COE prices will continue to rise. Better grab your new car with guaranteed COE as COE will inevitably go higher due to high demand. Demand is driven by higher household income compared to 10 years ago, higher property market price compared to 10 years ago (many profit from BTO flat flipping), higher stock market, social status, families with 2, 3 or 4 cars and many more demand factors driving COE prices higher. Cat A COE at $67k is still cheap since in 2013 it went as high as $90k and I predict it will go to that level again.
Reply With Quote
  #7285 (permalink)  
Old 16-04-2015, 06:57 PM
Unregistered
Guest
 
Posts: n/a
Default

We are already generating $5k pm of passive income. We will need to save another $240k for us to generate another $1k pm ($12k pa) of dividends. We can actually retire now if we want to as our passive income exceeds our expenses but we prefer to have a buffer of $2k pm extra amount. Also getting a monthly payout from our CPF Life when we reach 65 is an added bonus. We will most likely retire at 58 to join our friends who have retired earlier as they are more successful financially than us.


Quote:
Originally Posted by Unregistered View Post
It is wise to continue working as long as you can. Should try not to count on your children contributions to household expenses as they will need to start off their own lives and families.

How much would you need to generate the $6k pm passive income and how far away are you from it now?

From my experience, if you are depending on stocks dividends for passive income, it is a slow and challenging process.

For eg. to grow a passive income from $40k pa to $45K pa at 5% dividend returns, you will need to invest another $100k ! (or from $800k to $900K investment!). Meaning for every additional $5k pa returns, you will need to inject $100K investment!

The initial steps or build up was difficult for us, but with constant re-investment of our dividends and savings, you will start to see the real impact/benefit of compounding returns in the later years. We have now achieved $120k pa. moving slowly but surely to our goal of $150k pa.

The compounding effect kicks in because you find your passive incomes more than adequate to cover your annual expenses leaving you to save all of your yearly incomes! And when you invest these savings yearly, the returns really grow and fast! Imagine how fast it can grow for a couple earning more than $300K pa combined. If they invest this amount yearly, it gets them conservatively $15k additional passive income every year. And some more this does not include the capital appreciation!
Reply With Quote
  #7286 (permalink)  
Old 16-04-2015, 09:56 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
We are already generating $5k pm of passive income. We will need to save another $240k for us to generate another $1k pm ($12k pa) of dividends. We can actually retire now if we want to as our passive income exceeds our expenses but we prefer to have a buffer of $2k pm extra amount. Also getting a monthly payout from our CPF Life when we reach 65 is an added bonus. We will most likely retire at 58 to join our friends who have retired earlier as they are more successful financially than us.
If I were you, I would have already retired. I would need just $3k pm for me and spouse since we are debt free and we don't intend to have any domestic helper nor a car. Earning a passive income of $5k pm is a lot. There are retired couples who can retire with just $2k pm. Besides your $5k pm passive income, you would have contributions from your children which you can save. At 65, you will get $3500 from CPF Life as a couple if you choose the enhanced option. So it is possible at 65, your income will be $5k +$3.5k + $1k = $9.5k pm, if your children gives you $1k pm. So even beyond 65, you will accumulate wealth since your income is way higher than your expenses.
Reply With Quote

  #7287 (permalink)  
Old 16-04-2015, 10:14 PM
Unregistered
Guest
 
Posts: n/a
Default

Very commendable. That means your networth is at least $2.6m not including your CPF money. $1.4m for your condo and $1.2m in stocks.

Must admit when my investment in stocks hit $1m a few years ago I was worried. But now that my networth has grown, the $1m in stocks makes up less than 20% of my total funds, I am able to sleep peacefully at night. Diversification to spread your risk is key.

Don't put all your funds into a single source of investment eg. stocks. Spread some to bonds and annuities, and if possible, even property for rental income.

Well good luck on your retirement plan!

Quote:
Originally Posted by Unregistered View Post
We are already generating $5k pm of passive income. We will need to save another $240k for us to generate another $1k pm ($12k pa) of dividends. We can actually retire now if we want to as our passive income exceeds our expenses but we prefer to have a buffer of $2k pm extra amount. Also getting a monthly payout from our CPF Life when we reach 65 is an added bonus. We will most likely retire at 58 to join our friends who have retired earlier as they are more successful financially than us.


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


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
  #7288 (permalink)  
Old 17-04-2015, 08:28 AM
Unregistered
Guest
 
Posts: n/a
Default

You're right on my net worth. Thanks for your well wishes. I wish you all the best too for your retirement.

What about you? How old are you and what's your net worth? When do you plan to retire and why do you need so much ($150k pa) to retire? I thought $36k pa would suffice for an old couple without debt?


Quote:
Originally Posted by Unregistered View Post
Very commendable. That means your networth is at least $2.6m not including your CPF money. $1.4m for your condo and $1.2m in stocks.

Must admit when my investment in stocks hit $1m a few years ago I was worried. But now that my networth has grown, the $1m in stocks makes up less than 20% of my total funds, I am able to sleep peacefully at night. Diversification to spread your risk is key.

Don't put all your funds into a single source of investment eg. stocks. Spread some to bonds and annuities, and if possible, even property for rental income.

Well good luck on your retirement plan!
Reply With Quote
  #7289 (permalink)  
Old 17-04-2015, 11:19 AM
Unregistered
Guest
 
Posts: n/a
Default

We can expect COE prices to continue rising as it is still cheap. At $67k for Cat A, this is cheap as it ever went to $90k in 2013.

Without any clawback, we can expect prices to go beyond $100k for Cat A in 2019. So, those whose car's COE expires in 2019, they may consider buying a new car now to avoid the $100k COE in 2019.

Better to grab your new car now with guaranteed COE.

----------------------------------------------------------------------

Huge backlog of orders means COE likely to stay high: Analysts

By Xue Jianyue, TODAY
POSTED: 17 Apr 2015 07:18
URL: ://.channelnewsasia.com/news/singapore/huge-backlog-of-orders/1789898.html

TODAY reports: Any drop in premiums is likely to be marginal in future bidding exercises, analysts and motor dealers say.

SINGAPORE: Despite the sharp rise in the COE quota for the next three months, those holding out for a reprieve from rising COE premiums are likely to be disappointed.

Any drop in premiums is likely to be marginal in future bidding exercises, analysts and motor dealers told TODAY.

A huge backlog of orders — many from owners of deregistered cars waiting for COE premiums to fall — will keep premiums high, said motor dealers, pointing to the large number of bids made by the end of the latest bidding exercise last week.

For example, more than 2,340 bids were made for only 988 small-car certificates, said Singapore Vehicle Traders Association (SVTA) honorary secretary Raymond Tang.

“There is still a lot of backlog in the market,” he said. “You have more than 14,000 COEs, but it is still not enough.”

Indeed, COE premiums have continued to climb despite the sizeable COE quota for February to April. The quota was the largest since last February until the latest crop announced on Thursday. Increases across the board were seen in the latest bidding exercise, with Open Category premiums at a 12-month high of S$78,000.

Customers are also rushing to buy vehicles before more stringent conditions kick in through rebates and surcharges under the Carbon Emissions-Based Vehicle Scheme (CEVS) on Jul 1, said CarTimes’ managing director Eddie Loo and SVTA president Neo Tiam Ting.

The CEVS is aimed at encouraging the purchase of low-carbon-emission vehicles. The carbon-dioxide limits will be lowered with the revision, which could mean rebate cuts or surcharge hikes.

“A lot are rushing in to register in order to get the higher rebate, and because of that, the actual drop in premiums will not be much,” said Mr Neo.

Currently, COE quotas are determined by the allowed annual vehicle growth rate of 0.25 per cent, the number of vehicle deregistrations, adjustments for changes in the taxi population, replacement of commercial vehicles under the Early Turnover Scheme and expired COEs.

Vehicle deregistrations make up the bulk of supply.

With many buyers unaware of these reasons and rushing in to bid, they contribute to the high premiums they are hoping to avoid, said National University of Singapore transport analyst Lee Der Horng.

The link between COE quota numbers and deregistration will cause fluctuations in the market when deregistration numbers fall around 2019, a situation which is “not healthy” for motor dealers and customers, he said.

“Consumers may face greater uncertainty in COE premiums. Dealers will need to adjust business operations to accommodate this increased demand. After a few years, they will need to slim down. What they want to have is a stable COE supply,” said Professor Lee.

Although the increase in COEs presents dealers with increased sales opportunities, dealers said they were mindful of pushing sales too aggressively with steep discounts.

“No point selling and not being able to deliver the car. It doesn’t look good on the car agent,” said Mr Loo.
Reply With Quote
  #7290 (permalink)  
Old 17-04-2015, 01:07 PM
Unregistered
Guest
 
Posts: n/a
Default

Mai Kan Cheong.
Man Man Lai
Every quarter release additional 40% quota.

By end 2016 the COE will drop below $30k. Huat Huat.
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
How is life as a doctor in... ( 1 2 3... Last Page)
2,912 Replies, 1,460,901 Views
Anyone jobless for a long time... ( 1 2 3... Last Page)
3,103 Replies, 1,329,795 Views
Q: Big4 - Yearly salary increment ( 1 2 3... Last Page)
3,386 Replies, 1,391,233 Views
Civil Svc/ Statboard - Typical... ( 1 2 3... Last Page)
3,952 Replies, 1,810,279 Views
If you can't find a company here... ( 1 2 3)
23 Replies, 2,672 Views
Relocation to the US or stay in SG? ( 1 2 3)
21 Replies, 855 Views
Queries about Cpib application ( 1 2 3... Last Page)
1,285 Replies, 651,923 Views
Compare civil service salary ( 1 2 3... Last Page)
12,727 Replies, 7,485,876 Views
Getting MBA worth? ( 1 2 3... Last Page)
134 Replies, 101,061 Views
Lawyer Salary ( 1 2 3... Last Page)
14,347 Replies, 4,827,166 Views
GovTech ( 1 2 3... Last Page)
487 Replies, 345,430 Views
DBS tech seed programme ( 1 2 3... Last Page)
1,093 Replies, 269,923 Views
How much to ask for starting pay... ( 1 2 3... Last Page)
201 Replies, 68,578 Views
SIM-UOL fresh grad starting pay ( 1 2 3... Last Page)
6,152 Replies, 1,719,627 Views
GovTech Tech Associate Program... ( 1 2 3... Last Page)
115 Replies, 44,693 Views
Anyone working in Recruit express? ( 1 2 3)
29 Replies, 39,077 Views
Compilation of MAs/Analysts Gross... ( 1 2 3... Last Page)
823 Replies, 221,934 Views
Anyone work in JPM/GS/Morgan... ( 1 2 3... Last Page)
64 Replies, 10,387 Views
High Finance Thread ( 1 2 3... Last Page)
347 Replies, 111,346 Views
NCS (SingTel subsidiary) ( 1 2 3... Last Page)
575 Replies, 458,255 Views
Top paying companies in SG for... ( 1 2 3... Last Page)
97 Replies, 138,512 Views
Hospital (Private or Public)... ( 1 2 3... Last Page)
91 Replies, 27,037 Views
MINDEF DXO (All FAQ on it) ( 1 2 3... Last Page)
4,204 Replies, 2,594,208 Views
Mnc jobs - a must in life ?? ( 1 2 3... Last Page)
168 Replies, 68,683 Views
Officer Role in Bank of Tokyo -... ( 1 2 3... Last Page)
208 Replies, 172,206 Views
Working 2 FT (remote) jobs?...
2 Replies, 160 Views
Luxoft
0 Replies, 43 Views
DBS Graduate Associate Program ( 1 2 3... Last Page)
2,065 Replies, 567,113 Views
Grab Finance Graduate Programme... ( 1 2)
16 Replies, 2,037 Views
Powered by vBadvanced CMPS v3.2.2



All times are GMT +8. The time now is 06:29 PM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2021, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.3.2