How much are you earning per annum?

37 m
degree from local uni

annual sal is 80000

Life is not all about money, money, money. Those who think so are all stupid, shallow people. There is more to life. Having good relationships, happy family, caring for the less fortunate, doing community service, feeding the poor, taking care of orphans, etc makes life more meaningful.

You don't need to own and live in a private property to be successful and happy. You don't need to own a car to be successful. As long as you're happy, have a roof over your head and have enough to eat, then you're already among the most fortunate people on earth. There are billions of people and children living in poverty. Many die of hunger.

Make your life meaningful by making the life's of these hungry and poor people better. Go see the world and do something useful. Stop comparing among yourselves who has a bigger house, bigger car, bigger this, bigger that .... You're so shallow and lame.

Wealth and happiness are not mutually exclusive. Happiness is a state of the mind. Rich people can be happy so can poor people. But everyone knows wealth gives them options, a better and more comfortable life.

That's why people from poorer countries will leave behind their families to work in richer countries. They are prepared to withstand long period of separation from their loved ones to earn money so that they can provide a better life for themselves and their families.

It is sad but perhaps there is a reason why some countries are poorer than others. We are fortunate that Singapore is now relatively wealthier than many other countries. We should not lull ourselves into taking on a slower pace of life. The pursuit for a better life is a never ending process. If we slow down, others will overtake us. And it will be our turn or our children's turn to seek livelihood in other countries.

Originally Posted by Unregistered

Life is not all about money, money, money. Those who think so are all stupid, shallow people. There is more to life. Having good relationships, happy family, caring for the less fortunate, doing community service, feeding the poor, taking care of orphans, etc makes life more meaningful.

You don't need to own and live in a private property to be successful and happy. You don't need to own a car to be successful. As long as you're happy, have a roof over your head and have enough to eat, then you're already among the most fortunate people on earth. There are billions of people and children living in poverty. Many die of hunger.

Make your life meaningful by making the life's of these hungry and poor people better. Go see the world and do something useful. Stop comparing among yourselves who has a bigger house, bigger car, bigger this, bigger that .... You're so shallow and lame.

A very insightful and refreshing perspective. Indeed, helping the poor, hungry and needy is a responsibility of each human being with a pure heart. We must stop thinking of everything just for ourselves and our family. That's being arrogant and greedy. Unfortunately many in this forum are selfish.

Originally Posted by Unregistered

Life is not all about money, money, money. Those who think so are all stupid, shallow people. There is more to life. Having good relationships, happy family, caring for the less fortunate, doing community service, feeding the poor, taking care of orphans, etc makes life more meaningful.

You don't need to own and live in a private property to be successful and happy. You don't need to own a car to be successful. As long as you're happy, have a roof over your head and have enough to eat, then you're already among the most fortunate people on earth. There are billions of people and children living in poverty. Many die of hunger.

Make your life meaningful by making the life's of these hungry and poor people better. Go see the world and do something useful. Stop comparing among yourselves who has a bigger house, bigger car, bigger this, bigger that .... You're so shallow and lame.

Originally Posted by Unregistered

A very insightful and refreshing perspective. Indeed, helping the poor, hungry and needy is a responsibility of each human being with a pure heart. We must stop thinking of everything just for ourselves and our family. That's being arrogant and greedy. Unfortunately many in this forum are selfish.

If you are an excellent husband, and an excellent father, then go ahead and help. but if you cannot even fulfil your duties as a nurturing and caring father, as a responsible husband who helps the wife out. then my advice is don't even try to be charitable to people outside.

Make sure your family and yourself is perfect first, before going out to help! You don't want a case where your kids become hooligans and your wife suffer with all the load in the household.

Originally Posted by Unregistered

If you are an excellent husband, and an excellent father, then go ahead and help. but if you cannot even fulfil your duties as a nurturing and caring father, as a responsible husband who helps the wife out. then my advice is don't even try to be charitable to people outside.

Make sure your family and yourself is perfect first, before going out to help! You don't want a case where your kids become hooligans and your wife suffer with all the load in the household.

If everyone in society has your mentality, then no one will help others. No one can be perfect, you can't be a perfect husband or perfect father. As long as you're a very good husband and father, you have done well. Your statement is just a lame excuse. Period.

I worked very hard in my career and was a high flying executive earning big bucks. Today I can retire at the age of just 52 as my fortune is enough to allow me to retire. Many in this forum in their 50s are still struggling at work. My advice to the youngsters here to work hard during your career and you can reap the benefits of early retirement like what I am doing now. Now is the happiest moment of my life. Had I known I could be this happy, I would have worked even harder and retired earlier! LOL!

I read somewhere here some forummers were earning $1000 a day. That is $365k pa. I think many professional couples in their early 40s onwards should be able to earn this amount (combined) on an annual basis. Those more capable would be already earning this sum on their own, that is, no need to combine with spouse's income.

If they continue to work into their 50s & 60s, then these "power" couple households should be able to SAVE $1000 a day, from the two main reasons of rising income and declining expenses (as children grow up and housing loans get paid off).

This is what they would be saving every year if they continue to work into their 60s. Say at 55, their HH income is $450k and their expense is $120k, they will save $330k. At 60, if their HH income is $500k (including passive income), and their expenses drop to $100k, they would easily save $400k in a year. More than $1000 a day!

It is obvious the last stretch of your working career is crucial in building a strong retirement fund. Just from 55 to 60, a power couple could have boosted up their retirement savings by $365k X 5 years or $1.825m.

So don't miss out the golden period of your working life by copping out early, especially when income has not peaked and your expenses are still high.

Why need to save so much when you already have so much? You won't bring your fortune to your grave. Your children and their children will just spend it away. Hahaha.

Originally Posted by Unregistered

I read somewhere here some forummers were earning $1000 a day. That is $365k pa. I think many professional couples in their early 40s onwards should be able to earn this amount (combined) on an annual basis. Those more capable would be already earning this sum on their own, that is, no need to combine with spouse's income.

If they continue to work into their 50s & 60s, then these "power" couple households should be able to SAVE $1000 a day, from the two main reasons of rising income and declining expenses (as children grow up and housing loans get paid off).

This is what they would be saving every year if they continue to work into their 60s. Say at 55, their HH income is $450k and their expense is $120k, they will save $330k. At 60, if their HH income is $500k (including passive income), and their expenses drop to $100k, they would easily save $400k in a year. More than $1000 a day!

It is obvious the last stretch of your working career is crucial in building a strong retirement fund. Just from 55 to 60, a power couple could have boosted up their retirement savings by $365k X 5 years or $1.825m.

So don't miss out the golden period of your working life by copping out early, especially when income has not peaked and your expenses are still high.

For those retrenched ex-PMETs out there, such as ex-engineers and ex-bankers, do not be sad. You have worked so hard all your lives, now is the time to celebrate life. Open your mind. Your life on this earth is limited. Time to retire. Enjoy your retirement!

Good retirement plan in KL or Penang (retire in luxury) for a retired couple at 55 years old (assuming no dependents)

Passive income at 55
Rent out fully paid HDB flat S$2.5k pm
Stocks dividends S$1k pm
Total S$3.5k pm or RM10.5k pm

KL or Penang cost of living
Rent a 3 bedroom condominium RM2k pm
Car expenses RM500 pm (assume buy car in cash RM50k)
Food, groceries, restaurants and utilities RM2k pm
Medical and entertainment RM1k pm
Misc RM500 pm
Total spending RM6k pm
Savings RM4.5k pm

Passive income at 65
Rent out fully paid HDB flat S$2.5k pm
Stocks dividends S$1k pm
CPF Life (Enhanced Retirement Scheme), couple gets S$3.5k pm
Total income S$7k pm or RM21k pm
Total spending RM8k pm
Savings RM13k pm

This retirement plan allows you to live in a nice condo and drive a nice car. You can go holidays all over the world every year if you want to since you will have lots of savings.

Your key retirement assets are: 1. HDB flat 2. CPF Life 3. Dividend blue chip stocks.