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How much are you earning per annum?

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  #8731 (permalink)  
Old 12-10-2015, 07:19 PM
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I own a condo in JB, paid up.
Plan to retire soon when condo TOP.
Will rent out my paid up flat for $2.5k pm (RM7.5k pm).
Expenses in JB will be RM2k pm - food, utilities, car petrol, etc.
Can save RM5.5k pm.
Many Singaporeans already doing this. Our HDB flats are our assets. But we need FTs to rent our flats. We must encourage more FTs to come here so that we can rent out our flats so we can retire in JB.

You don't need millions of dollars to retire. Just your HDB flat and CPF Life.

Don't be like people who have millions but scared to retire. They retire at 70 and then die at 75. All their millions will be left behind and their children will fight each other to get the millions. So many stories in the news. LOL.

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  #8732 (permalink)  
Old 13-10-2015, 06:40 AM
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Yes, you are correct. $170k annual income is not a lot. Consider all the posters in this forum, many people are earning $500k p.a. I must have been shortchanged.

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If you cannot handle the stress you should consider less stressful jobs. No point destroying your health for that $170k of taxable income. Semi-retirement is also a good option. By the way $170k of taxable income is not really a big amount. So, if you can't hack it, just let it go.

However, at 47, you should not go into full retirement. Many studies have been done and the results always point to same conclusion - that young retirees increased their risk of falling into depression by 40%! Just google early retirement & depression to find out more. Besides that, your mind deteriorates much faster when you are not working.

You can also tell from the many repetitive posts about the same things from those early retirees that their mind is not taking on new things, their knowledge is not growing.

So, yes, do take care of your health but don't make the mistake of retiring fully only to end up compounding your health issues.


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  #8733 (permalink)  
Old 13-10-2015, 07:21 AM
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Yes, you are correct. $170k annual income is not a lot. Consider all the posters in this forum, many people are earning $500k p.a. I must have been shortchanged.
Yes, you have been short changed. Might as well retire in JB now and enjoy a relaxed life. But you must keep your mind active by reading, doing charity work, working on personal projects, travellling the world, exercising, investing, attending AGMs, etc.

Many posters here earn at least $500k pa I think. Those earning $300k pa or less are usually the underachievers, esp if they are aged 45 and above. The high flyers in this forum are happily retired and busy growing their wealth.

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  #8734 (permalink)  
Old 13-10-2015, 07:51 AM
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You didn't tell us what line of work you are in. As to whether you are short changed or not, you need to compare with what others are paid doing similar job. If they are paid much more and you are not, then you are short changed.

You certainly cannot conclude you are short changed just because you cannot handle the stress. It may be just a case of wrong job fit or you just cannot make it in this current role.

For eg, among the many teachers employed by MOE, majority worked till retirement, while a minority just couldn't cope, felt stressed out and dropped out from the profession. And you know teachers are not paid very much. So can you therefore conclude that those who dropped out are short changed? Obviously not. They are just in the wrong profession.

So what line are you in? Maybe you should give it up and let a more capable person take over and lead the company to greater heights.

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Yes, you are correct. $170k annual income is not a lot. Consider all the posters in this forum, many people are earning $500k p.a. I must have been shortchanged.
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  #8735 (permalink)  
Old 13-10-2015, 08:12 AM
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You can call them what you want, but people earning $300k pa especially when they are in their mid 50s are in their career sweet spot.

At this age, they have amassed a tidy and comfortable nest egg (usually multi millions), respectable passive incomes (can buy a jap car with one year of passive income), have no loans to pay, children grown up.

Many have mistaken that people like them are scared to retire. On the contrary, people like them can retire anytime, but they are working as they now enjoying work because they are no longer stressed by having to fight for promotion or even job security.

And remember for them, this is the golden period for savings! Where your salary is at its peak, and your loans and expenses are at the lowest. Can you imagine, for every year that you work, you can save up for 3 years or more of your retirement expenses? This period from 55-65 is truly the golden period for building up a solid retirement nest egg. In this 10 year period, you could add another $3+m to your coffers.

Yes, you are right. Compared to others, these people are under achievers. But hey, with the money they amassed, i think they are not bothered. I know a few of these people and I know they are people who know how to live life.


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Originally Posted by Unregistered View Post
Yes, you have been short changed. Might as well retire in JB now and enjoy a relaxed life. But you must keep your mind active by reading, doing charity work, working on personal projects, travellling the world, exercising, investing, attending AGMs, etc.

Many posters here earn at least $500k pa I think. Those earning $300k pa or less are usually the underachievers, esp if they are aged 45 and above. The high flyers in this forum are happily retired and busy growing their wealth.
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  #8736 (permalink)  
Old 13-10-2015, 09:14 AM
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Yes, you are right. These are under achievers. They should just quit and let younger, more energetic people take over so that the company can grow faster. These older workers have less drive.


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Originally Posted by Unregistered View Post
You can call them what you want, but people earning $300k pa especially when they are in their mid 50s are in their career sweet spot.

At this age, they have amassed a tidy and comfortable nest egg (usually multi millions), respectable passive incomes (can buy a jap car with one year of passive income), have no loans to pay, children grown up.

Many have mistaken that people like them are scared to retire. On the contrary, people like them can retire anytime, but they are working as they now enjoying work because they are no longer stressed by having to fight for promotion or even job security.

And remember for them, this is the golden period for savings! Where your salary is at its peak, and your loans and expenses are at the lowest. Can you imagine, for every year that you work, you can save up for 3 years or more of your retirement expenses? This period from 55-65 is truly the golden period for building up a solid retirement nest egg. In this 10 year period, you could add another $3+m to your coffers.

Yes, you are right. Compared to others, these people are under achievers. But hey, with the money they amassed, i think they are not bothered. I know a few of these people and I know they are people who know how to live life.
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  #8737 (permalink)  
Old 13-10-2015, 11:49 AM
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Obviously you dont get it.

We old timers want to hand over to the younger people but they all want to retire early and muck around. So no choice, we old timers, brought up in the old school ways of duty before self, can always be depended on to shoulder on.

One of my concerns is that these misguided young people gave dangerous advise to others asking them to retire early using ex bankers as examples. Some follow blindly also.

If you think about it, will successful bankers retire young? I think only those who cant make it do so.

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Yes, you are right. These are under achievers. They should just quit and let younger, more energetic people take over so that the company can grow faster. These older workers have less drive.
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  #8738 (permalink)  
Old 13-10-2015, 02:45 PM
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Nonsense. The young talents can't move up because of the many old people hogging onto positions.

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Obviously you dont get it.

We old timers want to hand over to the younger people but they all want to retire early and muck around. So no choice, we old timers, brought up in the old school ways of duty before self, can always be depended on to shoulder on.

One of my concerns is that these misguided young people gave dangerous advise to others asking them to retire early using ex bankers as examples. Some follow blindly also.

If you think about it, will successful bankers retire young? I think only those who cant make it do so.
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  #8739 (permalink)  
Old 13-10-2015, 04:35 PM
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sure or not? Dont anyhow take responsibility, after that complain too much stress in this forum and then want to quit to relak one corner.

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Nonsense. The young talents can't move up because of the many old people hogging onto positions.
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  #8740 (permalink)  
Old 13-10-2015, 05:09 PM
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sure or not? Dont anyhow take responsibility, after that complain too much stress in this forum and then want to quit to relak one corner.
How can company prosper when workers use company time to relax many corners and chit chat in forums. LOL. Go back to work, boy. LOL.
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