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How much are you earning per annum?

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  #9531 (permalink)  
Old 02-03-2016, 03:27 PM
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22 years old, not married, no children
Here are my assets
1. 12 x Lamborghini Aventador ($15m)
2. 1 skycraper in London ($2 bn)
3. Cash ($200 bn)

Income approx $350 mn pa from my drug cartel in Mexico.

Chilling on a tropical beach while typing this. Life is good.

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  #9532 (permalink)  
Old 03-03-2016, 09:02 PM
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Husband and wife, both in our late forties, annual income $75k and $70k respectively. We spend $110k pa and save $35k pa. Our condo is worth $950k and our mortgage is left with only $150k. Our loan to value (LTV) ratio is only 0.16. Some people say we are underleveraged but we are happy with this leverage ratio. In fact, we have enough cash to settle our loan but choose to pay monthly using our CPF. We were lucky that we bought our condo at a good price a few years ago. Our car has no loan. Our cash and CPF is $1 mil in total. Our total net worth is $1.8 mil. Any comments how are we doing financially?

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  #9533 (permalink)  
Old 04-03-2016, 07:49 AM
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Default Make your money work for you.

While we are busy working hard to earn money, don't forget to make the money we earned work hard for us too.

This was what I did since the first day I started work. Whenever I have saved up some money I would buy some shares. It's been 30+ years now and I continued to hold and add to those shares. Not too sure about the total outlay (probably around $600k), but the shares are worth about $900k+ now. Was above $1m+ before the start of this year. While the share values go up and down along with the economy, I just enjoy the dividends which was around $55k pa for the last 3 to 4 years. Enough to fund our annual overseas holidays and then some.

At the same time we also invested in a condo for rental income. It still has an outstanding mortgage, but the rental income is enough to cover the monthly mortgage payment. The mortgage has another 5 years to go.

As a risk mitigation measure, we also "hoard" substantial cash in FDs and bonds, as well as in CPF. The returns from these sources are not too shabby either. Each year we receive about $50k in interest almost risk free!

When the investment property is fully paid up in 5 years time, we should be looking at a passive income of $150k pa. It will be time to sit back and relax, and let the money work hard for us.

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  #9534 (permalink)  
Old 04-03-2016, 03:56 PM
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Quote:
Originally Posted by Unregistered View Post
Husband and wife, both in our late forties, annual income $75k and $70k respectively. We spend $110k pa and save $35k pa. Our condo is worth $950k and our mortgage is left with only $150k. Our loan to value (LTV) ratio is only 0.16. Some people say we are underleveraged but we are happy with this leverage ratio. In fact, we have enough cash to settle our loan but choose to pay monthly using our CPF. We were lucky that we bought our condo at a good price a few years ago. Our car has no loan. Our cash and CPF is $1 mil in total. Our total net worth is $1.8 mil. Any comments how are we doing financially?
It is not important how you are performing financially. What is most important is that you are healthy, have good relationships with your family and close friends and you are happy.

Anyway since you ask, the benchmark to use is these Cs:

1. Condo - If you own a condo in Singapore, you are among the top 20% of the population who live in private property. You are in the upper class of society.
2. Car - If you own a car, you are among the lucky ones.
3. Cash - Cash is king.
4. CPF - If you have a big CPF balance, your retirement is assured.

Looks like you have all these Cs. So, be happy that you are successful financially.

YOU HAVE ACHIEVED THE SINGAPORE DREAM! CONGRATULATIONS!
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  #9535 (permalink)  
Old 05-03-2016, 05:15 PM
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80% of the population live in public housing. Clearly you are better off. Be grateful and do charity work to help the poor and needy. Stop wasting time comparing with others. The comparisons will never end. There will always be someone richer than you.

Do you think the richer you are, the happier you will be? If you think so, then you are a stupid fool. Happiness does not lie in your material wealth. It has never been and will never be.


Quote:
Originally Posted by Unregistered View Post
Husband and wife, both in our late forties, annual income $75k and $70k respectively. We spend $110k pa and save $35k pa. Our condo is worth $950k and our mortgage is left with only $150k. Our loan to value (LTV) ratio is only 0.16. Some people say we are underleveraged but we are happy with this leverage ratio. In fact, we have enough cash to settle our loan but choose to pay monthly using our CPF. We were lucky that we bought our condo at a good price a few years ago. Our car has no loan. Our cash and CPF is $1 mil in total. Our total net worth is $1.8 mil. Any comments how are we doing financially?
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  #9536 (permalink)  
Old 05-03-2016, 08:59 PM
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I come from China when i was 19 year old. Now, I am 36 year old. Married and settled here.

Earning 230k per annum
Wife earns 85k per annum

5 rm HDB fully paid
2 rm condo fully paid
drive Japanese car
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  #9537 (permalink)  
Old 06-03-2016, 12:55 PM
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Quote:
Originally Posted by Unregistered View Post
I come from China when i was 19 year old. Now, I am 36 year old. Married and settled here.

Earning 230k per annum
Wife earns 85k per annum

5 rm HDB fully paid
2 rm condo fully paid
drive Japanese car
I am also from China
When I came here in 2008 I start to work in Geylang
Initially $50/session but now I make $150/session
I hope to retire by 40 and go back hometown
Then I can get married and buy a house
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  #9538 (permalink)  
Old 06-03-2016, 01:03 PM
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Quote:
Originally Posted by Unregistered View Post
I am also from China
When I came here in 2008 I start to work in Geylang
Initially $50/session but now I make $150/session
I hope to retire by 40 and go back hometown
Then I can get married and buy a house
thats bit rude... its a good thread to share info here
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  #9539 (permalink)  
Old 06-03-2016, 01:48 PM
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Quote:
Originally Posted by Unregistered View Post
thats bit rude... its a good thread to share info here
I am 26 male from India
$145,000 per annum
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  #9540 (permalink)  
Old 06-03-2016, 02:19 PM
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Quote:
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I am 26 male from India
$145,000 per annum
You are foreign talent?

Which field are you in?

How can you earn so much at young age?
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