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21-03-2016, 07:13 PM
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Quote:
Originally Posted by Unregistered
Well, you can probably say that my wife and friends think I'm nuts
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You should be living in a bungalow with a big swimming pool.
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21-03-2016, 07:15 PM
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Quote:
Originally Posted by Unregistered
You should be living in a bungalow with a big swimming pool.
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Don't think i can afford that lifestyle but maybe considering a condo at some point in time
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21-03-2016, 07:21 PM
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Quote:
Originally Posted by Unregistered
You are irrational or just full of BS.
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lol u jelly? combined income definitely possible to hit that amount.
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21-03-2016, 08:34 PM
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Quote:
Originally Posted by Unregistered
Don't think i can afford that lifestyle but maybe considering a condo at some point in time
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You're right. A big bungalow with swimming pool could cost $10m or more. You can't afford it.
You should just settle for a condo in the OCR. We have many old men in this forum who also can't afford a bungalow. They also happy staying in a condo.
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21-03-2016, 10:42 PM
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Annual Bonus
The annual bonus is another thing to look forward to for those currently in the workforce. I still remember fondly after receiving my bonus in my 2nd year of work, I immediately used it for down payment for my first car. In that year I achieved my first 2 Cs - credit card and a car!
As I got married and started a family, the annual bonus allowed us to quickly pay off our condo, and build up our savings (cash).
As we progressed in our careers, the bonus also became more substantial. In fact, it is a major contributor to our wealth build up each year, making up at least 40% of our annual savings currently. This enabled us to acquire another condo for rental income. Another 30% is from our passive income and the last 30% is from savings from our monthly salaries.
At 27, you have time on your side. So long as you continue to work and progress in your career, and don't retire prematurely, you will do alright.
Quote:
Originally Posted by Unregistered
seem like i am a poor man...27 this year...annual compensation including bonus makes to an average of $7k monthly only..peasant pay..
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22-03-2016, 09:48 AM
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Quote:
Originally Posted by Unregistered
seem like i am a poor man...27 this year...annual compensation including bonus makes to an average of $7k monthly only..peasant pay..
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Are you in the engineering field? If you are, better move into higher paying sectors like finance. Make sure you then work and save hard and you can retire by your early 50s. Nowadays, if you hit 50, difficult to get a new job if you're retrenched. So better to earn high so if you're prepared for any retrenchment. Engineers today have no choice but to work into their 50s and 60s because they have no choice. Bankers retire in their early 50s to enjoy their wealth and fortune.
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22-03-2016, 10:07 AM
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Hey what happened to retiring in your 40s? Retiring in your 50s is nothing unusual lah deh.
A few more posts, you will be talking about retiring in your 60s. Be consistent lah. Lol
Quote:
Originally Posted by Unregistered
Are you in the engineering field? If you are, better move into higher paying sectors like finance. Make sure you then work and save hard and you can retire by your early 50s. Nowadays, if you hit 50, difficult to get a new job if you're retrenched. So better to earn high so if you're prepared for any retrenchment. Engineers today have no choice but to work into their 50s and 60s because they have no choice. Bankers retire in their early 50s to enjoy their wealth and fortune.
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22-03-2016, 12:22 PM
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800k per annum?
are C level executive or what?
Not even SVP at my bank earn that much.....only the few C level execs and star traders got that type of amount...
i want to believe you...............but the truth is out there.
Quote:
Originally Posted by Unregistered
5 rm hdb fully paid
Bread and butter car fully paid
Parents allowance 2k
Car, child, home, maid exp, roughly 3k
Personal exp, roughly 2k per month.
Traveling simple say 3-5k per trip, twice a year.
Taxes prob 120k
Annual exp approx 220k per annum, mainly to the tax man
Combined income > 800k per annum
Net worth mainly cash, followed by some equities, cpf, etc , 5-6m, excluding hdb
Mid 40s couple with one child
My wife thinks I am nuts for not spending our money to enjoy more. But I feel that we should work for few more years, take it slow and semi retire. |
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