|
|
03-09-2021, 10:22 AM
|
|
My career was really stagnant in my early 30s. I was in the public sector then but just a lowly division 1 officer. Left for private sector in the late 30s.
The junior guys (late 20s early 30s) that was grooming the last few years made more money at that age than me.
I am happy for them but felt that my early years was wasted. Sure, you can call that "gaining experience" and I was honestly glad to have the opportunities for interesting work from 34 onwards, but was really under paid.
Year Income (S$) Age
2007 $54,600.00 29
2008 $44,661.00 30
2009 $71,742.00 31
2010 $74,776.00 32
2011 $85,600.00 33
2012 $86,214.00 34
2013 $92,736.00 35
2014 $104,696.00 36
2015 $104,513.00 37
2016 $117,227.00 38
2017 $155,365.00 39
2018 $175,476.00 40
2019 $206,140.00 41
|
03-09-2021, 10:30 AM
|
|
Quote:
Originally Posted by Unregistered
My career was really stagnant in my early 30s. I was in the public sector then but just a lowly division 1 officer. Left for private sector in the late 30s.
The junior guys (late 20s early 30s) that was grooming the last few years made more money at that age than me.
I am happy for them but felt that my early years was wasted. Sure, you can call that "gaining experience" and I was honestly glad to have the opportunities for interesting work from 34 onwards, but was really under paid.
Year Income (S$) Age
2007 $54,600.00 29
2008 $44,661.00 30
2009 $71,742.00 31
2010 $74,776.00 32
2011 $85,600.00 33
2012 $86,214.00 34
2013 $92,736.00 35
2014 $104,696.00 36
2015 $104,513.00 37
2016 $117,227.00 38
2017 $155,365.00 39
2018 $175,476.00 40
2019 $206,140.00 41
|
Nice work doubling your salary between 2015 and 2019!
Primary School English Grammar and Vocabulary Drills
SG Bus Timing App - the best bus app - available on iOS and Android
Bursa Stocks [Android] App - check latest share prices on the go
SGX Stocks [Android] App - check latest share prices on the go
SGX Stocks [iPad] app | SGX Stocks [iPhone] app
|
03-09-2021, 11:48 AM
|
|
I am retiring next year. Settled all my debt. Living in a small apartment. Getting rid of the car since I don’t need it during retirement. My annual retirement expenses will be about $20k pa. I’m in my mid fifties. My cash savings of $300k will fund my retirement until 65. At 65, my CPF Life will fund my retirement for the rest of my life.
|
03-09-2021, 02:00 PM
|
|
Quote:
Originally Posted by Unregistered
I am retiring next year. Settled all my debt. Living in a small apartment. Getting rid of the car since I don’t need it during retirement. My annual retirement expenses will be about $20k pa. I’m in my mid fifties. My cash savings of $300k will fund my retirement until 65. At 65, my CPF Life will fund my retirement for the rest of my life.
|
Single with no children?
|
03-09-2021, 04:55 PM
|
|
Quote:
Originally Posted by Unregistered
I am retiring next year. Settled all my debt. Living in a small apartment. Getting rid of the car since I don’t need it during retirement. My annual retirement expenses will be about $20k pa. I’m in my mid fifties. My cash savings of $300k will fund my retirement until 65. At 65, my CPF Life will fund my retirement for the rest of my life.
|
300K cash savings, 20K PA? You need average returns of ~7% to fund and that's excluding inflation.
That aside 20K PA seems low for retirement, especially if unexpected expense come up. Are you well insured? That is the biggest risk as you age. At 1.5k per month, how much are you setting aside for insurance? It will not leave much for daily expenses.
|
03-09-2021, 10:58 PM
|
|
Quote:
Originally Posted by Unregistered
I don’t eat much. I eat twice per day.
Food $10 per day ($300 pm), insurance $400 pm, utilities $150 pm. No mortgage, no debt.
The rest are for my other miscellaneous expenses. I’m a simple guy who loves to be alone. I like to spend my time reading. My CPF Life will give me $2k pm, this is a lot for my simple lifestyle. I don’t go out and spend unnecessarily. $300k is more than I need to last for 10 years. If I really need the money, I can downgrade further. Buy the HDB studio unit for seniors.
|
Ok I’m not judging you but are you ok maintaining this for the rest of your natural lifespan?
|
03-09-2021, 11:58 PM
|
|
Quote:
Originally Posted by Unregistered
I don’t eat much. I eat twice per day.
Food $10 per day ($300 pm), insurance $400 pm, utilities $150 pm. No mortgage, no debt.
The rest are for my other miscellaneous expenses. I’m a simple guy who loves to be alone. I like to spend my time reading. My CPF Life will give me $2k pm, this is a lot for my simple lifestyle. I don’t go out and spend unnecessarily. $300k is more than I need to last for 10 years. If I really need the money, I can downgrade further. Buy the HDB studio unit for seniors.
|
$10 a day is quite a lot already. I keep it to $3 per meal, including drinks. Breakfast eat at home. But have to splurge on public transport to work. Haiz
|
|
|
Posting Rules
|
You may not post new threads
You may post replies
You may not post attachments
You may not edit your posts
HTML code is Off
|
|
|
|
» 30 Recent Threads |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|