How much are you earning per annum?

very demoralizing reading about young people making so much money.

Originally Posted by Unregistered

Here's a perspective from someone in that generation: I'm 28 and my wife is 25. I'm earning about $9k+ pm

wow age 28 and you getting 9k+/mth???

which industry you from??

BAnking??

Originally Posted by luwb

R u serious? adding 20% followed by a 33% inclement without asking one's existing salary first is a shallow comment?

I rest my case.

his last drawn is 3200

3200 x 1.2 = 3840
3840 x 1.33 = 5107

and he got offer more than 5107....i think he got offered at least 9k-10k instead of 5107

is like 300% increment from 3.2k to 9k

[pretz]

Originally Posted by Unregistered

for games? can teach?

I think it's more like 300,000 RMB.

I have a friend having such business. He's a Chinese PR living in Singapore, his sister is married to ABC in California who is working from home, helping him sell credits/gold for Diablo 3, Star Wars, World of Warcraft.
Money is not good, but little work needed.

Your workforce comprises of Chinese university students. Pay them peanuts in RMB, earn back the cash in USD. He says he earns about USD6 per transaction.

[pretz]

Originally Posted by Unregistered

can you share how u got the interview in the 1st place?
this kinda job got put on adv in the newspaper?

The industry i'm in, it's like Oil Trading (not bunker trading), it's an Old Boy's Club. You need people to bring you into the circle. The circle is small, everyone moves around, and everyone knows everyone else in the industry by face.

You'll need to be good at what you do, or have a particular niche, or "carry balls" for 4-5 years before you can get a shot.

My selling point was that i was "relatively" good at what i did, and I am a 'banana'. White on inside, yellow on outside (so i can click with their working style). I'm more fluent in English than my non-native english speaking colleagues, I speak/write Mandarin, and i am business conversant in Thai and Southern Russian. Don't ask me to write either, though.

Valid points but already well thought out. When I was about to buy my condo, I was still within income limits of EC.

I'm in banking but not in the high risk functions like IB or sales/trading. Well it does not mean I won't get retrench, but it means that being young, I won't have too much a difficulty getting another job. Being young, it is also less likely I will get retrenched. They usually cut the fat around middle-senior management level.

If it comes to it, I'm sitting on a 10-15% paper gain on the condo. We are still staying with my parents at the moment (waiting for TOP) so its not like we are losing roof over our heads. Also, it is an investment, because I may / or may not move in when TOP. I could sell it and book gains on TOP, then buy another property in less pricey location like Punggol/Pasir Ris which is still cheap (for now).

The continental car is 2 year old already, I agree it is a luxury purchase. But the worse of the depreciatio is already over. It is a 6-year loan, and I have enough cash to pay it off.

The other expenses can be trimmed if necessary.

The only thing that I will need to adjust is if we have our first kid. I will probably cut back on expenses (e.g. sell off my country club or reduce number of holidays)

Originally Posted by luwb

Judging by what u wrote,

Your monthly expenses are too high.

Roof over yr head is not an investment. It is a necessity.

You are driving expensive car and staying in Condo at such a young age. Both of you still in the mist of building a family.

Combine income = $12,000
Saving / mth = $2,400-$3000

Assuming both of u are highly discipline in your saving, we are talking about $25,000-$30,000/ yr.

In 10 years time, u would have accumulated $300,000, mathematically speaking. Taking into inflation, yr net worth is around $180,000. By then, u and yr wife is in the late 30s.....

Given the prevailing market situation, it is highly possible for one to lose their job easily.... What happen when one of u, especially u, lose yr job.

Does it sound good to u?

Originally Posted by pretz

The industry i'm in, it's like Oil Trading (not bunker trading), it's an Old Boy's Club. You need people to bring you into the circle. The circle is small, everyone moves around, and everyone knows everyone else in the industry by face.

You'll need to be good at what you do, or have a particular niche, or "carry balls" for 4-5 years before you can get a shot.

My selling point was that i was "relatively" good at what i did, and I am a 'banana'. White on inside, yellow on outside (so i can click with their working style). I'm more fluent in English than my non-native english speaking colleagues, I speak/write Mandarin, and i am business conversant in Thai and Southern Russian. Don't ask me to write either, though.

can share more on what is the different for OIL TRADING and BUNKER TRADING?
And what is the different for trader and broker?

Thanks in advance!

Originally Posted by Unregistered

Valid points but already well thought out. When I was about to buy my condo, I was still within income limits of EC.

I'm in banking but not in the high risk functions like IB or sales/trading. Well it does not mean I won't get retrench, but it means that being young, I won't have too much a difficulty getting another job. Being young, it is also less likely I will get retrenched. They usually cut the fat around middle-senior management level.

If it comes to it, I'm sitting on a 10-15% paper gain on the condo. We are still staying with my parents at the moment (waiting for TOP) so its not like we are losing roof over our heads. Also, it is an investment, because I may / or may not move in when TOP. I could sell it and book gains on TOP, then buy another property in less pricey location like Punggol/Pasir Ris which is still cheap (for now).

The continental car is 2 year old already, I agree it is a luxury purchase. But the worse of the depreciatio is already over. It is a 6-year loan, and I have enough cash to pay it off.

The other expenses can be trimmed if necessary.

The only thing that I will need to adjust is if we have our first kid. I will probably cut back on expenses (e.g. sell off my country club or reduce number of holidays)

Speaking as an older guy, we actually need more young people like you to overstretch themselves. This is so that when the crunch comes, we have the cash to buy things at a much lower price (cars, condos, stocks). And when economy recovers, we will then sell them at higher prices back to young people like you.

[pretz]

Originally Posted by Unregistered

Speaking as an older guy, we actually need more young people like you to overstretch themselves. This is so that when the crunch comes, we have the cash to buy things at a much lower price (cars, condos, stocks). And when economy recovers, we will then sell them at higher prices back to young people like you.

Circle of life

Originally Posted by Unregistered

Speaking as an older guy, we actually need more young people like you to overstretch themselves. This is so that when the crunch comes, we have the cash to buy things at a much lower price (cars, condos, stocks). And when economy recovers, we will then sell them at higher prices back to young people like you.

old man keeping lots of cash under mattress? inflation will wipe out your cash value. old fool.