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How much are you earning per annum?

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  #8881 (permalink)  
Old 14-11-2015, 07:11 PM
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just drove past Bishan junction 8.... showroom Skyvue was super crowded... apparently they are slashing their price by $150k per unit for the remaining high floors.... looks like a fish market.... People living in Singapore are truly rich...
Many rich people in Singapore. There is an old couple in their late 50s in this forum who has net worth of $5.8m. They can easily afford to upgrade to more expensive condos or a landed property.

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  #8882 (permalink)  
Old 14-11-2015, 08:34 PM
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Who is talking bad about me? You don't believe I have $5.8 mil of net worth?



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  #8883 (permalink)  
Old 15-11-2015, 07:15 AM
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Very noble of you. If the world has many more noble souls like you, the world will be a much better place.

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Absolutely true. Money is not everything in life. You don't need so much money to live in this world. What is more important are your good deeds and service to humanity. There are poor, old, people in our society that we can help. Make their day by doing good. I'm approaching 50 and I have decided to spend the rest of my remaining life on this earth to be a blessing to others. I've worked for a long time building up my career and made a small fortune. As I reflect whether to continue working to accumulate more fortune or to devote my time on more meaningful work. I realised that seeking money will always be a never ending game. When you earn more, you want more. The same goes for accumulating wealth. When you have a million, you want two million. When you have two million, you want three million and when you're a billionaire, you want to be a multi billionaire.

So money and wealth accumulation will never be a good objective. So I decide to do lots of social work to help others. My fortune now generates enough passive income for my family needs. I don't need to aspire to afford a GCB nor do I need to own a sports car. I'm happy living in a 3 bedroom condo and driving a mid sized car. Both are fully paid. I make use of my car to travel to do good deeds. I also spend a lot more time with my wife and family at home. My life is much more happier and fulfilling. At least, when I'm at my death bed, I will be satisfied that I've made thousands of lives better.

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  #8884 (permalink)  
Old 15-11-2015, 12:36 PM
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Next week onwards, COE prices will HUAT all the way. Congrats to those who already bought your new cars. HUAT AH !!!!!!!!!!!
I agree. Year end bonus coming.
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  #8885 (permalink)  
Old 15-11-2015, 02:32 PM
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Among my cohort of graduate old men (in our mid 50s), I dare say a good number of us have HH networth of above $5m. Some got there by buying landed properties early in their careers and holding on to them till now. What was $300k - $450k for intermediate terrace to semi Ds are now worth $4m and above.

Some, like me, built up our networth through investments in stocks and properties (condos). That is not to say work income doesn't play a part. On the contrary, work income plays a central and important role to wealth building. It is with a steady work income that we dare invest in stocks and properties.

Those of my cohort who did not invest in stocks nor properties, fared the worse in terms of HH networth. Most of them are still staying in their first HDB flats, after 25 or so long years! I think for them, their networth is around $2m to $2.5m.

Above 50, our human asset will "depreciate" very quickly. Meaning our market value drops and even the company employing you may already think you cost the company too much. That is why investing for passive income is important. The earlier you start the more prepared you will be when you hit mid 50s.

Looking ahead, I see many young families in their late 30s to mid 40s having already accumulated $2m and above. They will easily surpass $5m in their 50s if they don't quit their jobs prematurely.




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Many rich people in Singapore. There is an old couple in their late 50s in this forum who has net worth of $5.8m. They can easily afford to upgrade to more expensive condos or a landed property.
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  #8886 (permalink)  
Old 15-11-2015, 03:04 PM
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I agree. Year end bonus coming.
The tsunami supply is also coming.
So net net the COE should drop.

Just watch after CNY. It will crash below $50k
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  #8887 (permalink)  
Old 15-11-2015, 03:38 PM
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The tsunami supply is also coming.
So net net the COE should drop.

Just watch after CNY. It will crash below $50k
I'm hoping COE will crash to below $20k, then I can scrap my one year old car to upgrade to a new bigger car. I got my COE at $60k+. Possible?
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  #8888 (permalink)  
Old 15-11-2015, 03:47 PM
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Post #8888

Huat Ah!!!
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  #8889 (permalink)  
Old 15-11-2015, 03:49 PM
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I'm hoping COE will crash to below $20k, then I can scrap my one year old car to upgrade to a new bigger car. I got my COE at $60k+. Possible?
Yes possible.

My boss got his at COE $93k in 2013. Now looking around since 3 years is up.

My brother in law got his at COE $96k in 2013 too. Planning to change also.
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  #8890 (permalink)  
Old 15-11-2015, 04:32 PM
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Thank you for sharing. May I know for those of your cohort who did not invest in stocks and properties, you mentioned their net worth is between $2m - $2.5m. Does this refer to their individual net worth or combined net worth with their wife?

Quote:
Originally Posted by Unregistered View Post
Among my cohort of graduate old men (in our mid 50s), I dare say a good number of us have HH networth of above $5m. Some got there by buying landed properties early in their careers and holding on to them till now. What was $300k - $450k for intermediate terrace to semi Ds are now worth $4m and above.

Some, like me, built up our networth through investments in stocks and properties (condos). That is not to say work income doesn't play a part. On the contrary, work income plays a central and important role to wealth building. It is with a steady work income that we dare invest in stocks and properties.

Those of my cohort who did not invest in stocks nor properties, fared the worse in terms of HH networth. Most of them are still staying in their first HDB flats, after 25 or so long years! I think for them, their networth is around $2m to $2.5m.

Above 50, our human asset will "depreciate" very quickly. Meaning our market value drops and even the company employing you may already think you cost the company too much. That is why investing for passive income is important. The earlier you start the more prepared you will be when you hit mid 50s.

Looking ahead, I see many young families in their late 30s to mid 40s having already accumulated $2m and above. They will easily surpass $5m in their 50s if they don't quit their jobs prematurely.
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