How much are you earning per annum?

[Sam Adams]

Originally Posted by Unregistered

Im so impressed by how all of you are earning over 100k per annum!? im just a diploma graduate and going for a degree in SIT, whats your thoughts and advices on it as some of you here are really experienced it seems and doing well

Help me out here,im scared and kinda in need of advices.What would you tell the kid whos about to get into the working industry? btw im 22 since i just did my NS

hey buddy... i'm 28. made a little more than 100k last year everything included. non-commission based. best piece of advice i can give you is to secure the most prestigious/well-paying first job you can. having that headstart is invaluable, especially since many employers in singapore negotiate salary by taking your last drawn + x%.

Many people are highly successful in this forum.
My spouse and I, 47 & 49, have not achieved as much, modest in comparison.
We only manage to own just a paid up condo worth 2m.
We only earn 155k pa in total.
We are many years away from being able to retire.
Our net worth is only 2.5m, I think we need at least 4m net worth to retire.
We have to work maybe until we are 70 years old to retire.

Originally Posted by Unregistered

Many people are highly successful in this forum.
My spouse and I, 47 & 49, have not achieved as much, modest in comparison.
We only manage to own just a paid up condo worth 2m.
We only earn 155k pa in total.
We are many years away from being able to retire.
Our net worth is only 2.5m, I think we need at least 4m net worth to retire.
We have to work maybe until we are 70 years old to retire.

At 2.5m, indeed you are far far away from retirement.
Best is don't retire, keep working, keep saving, keep comparing..... Get it?

Originally Posted by Unregistered

Many people are highly successful in this forum.
My spouse and I, 47 & 49, have not achieved as much, modest in comparison.
We only manage to own just a paid up condo worth 2m.
We only earn 155k pa in total.
We are many years away from being able to retire.
Our net worth is only 2.5m, I think we need at least 4m net worth to retire.
We have to work maybe until we are 70 years old to retire.

2.5 mil net worth with a fully paid condo and you cant retire? Anyway you arent even in your 50s which is still considered rather young. unless you have plenty of other liabilities i wont worry so much if i were you and start to enjoy life a little.

Anyone staying in a condo is in a way, already "enjoying" the fruits of their labour. They have bought themselves a better lifestyle.

Having said that, just like those who "enjoy life" a little either by going for round the world tour, buying an expensive European car, or a few expensive watches and eating at fine dining restaurants, these people always worry whether they have enough for retirement, especially if they are like this couple with only $2.5m net worth which included their primary residence.

I know exactly how they are feeling. When I was their age, our combined networth was similar to theirs. My and wife decided then to reward ourselves (enjoy life a little) with a better home environment and we upgraded to a condo. Once we got used to that environment, we realised that our savings would not be sufficient to fund our retirement and we certainly don't want to downgrade back to a HDB flat so soon.

So we put our retirement plan on hold and plodded on. At every step of the way, of course, we enjoyed life a little. Every year we continued our tradition of overseas vacation, my wife and I owned a car each, we eat out at restaurants 10 times a month, we have the latest electronic gadgets, etc...

But let me tell you, you can never get rid of the worry of whether you have enough for retirement. And I think it is a good thing in that it shows you are aware and concern. If you don't have such worry, you better be very wealthy because if not, you will be in for a very nasty retirement.

Originally Posted by Unregistered

2.5 mil net worth with a fully paid condo and you cant retire? Anyway you arent even in your 50s which is still considered rather young. unless you have plenty of other liabilities i wont worry so much if i were you and start to enjoy life a little.

Originally Posted by Unregistered

Anyone staying in a condo is in a way, already "enjoying" the fruits of their labour. They have bought themselves a better lifestyle.

Having said that, just like those who "enjoy life" a little either by going for round the world tour, buying an expensive European car, or a few expensive watches and eating at fine dining restaurants, these people always worry whether they have enough for retirement, especially if they are like this couple with only $2.5m net worth which included their primary residence.

I know exactly how they are feeling. When I was their age, our combined networth was similar to theirs. My and wife decided then to reward ourselves (enjoy life a little) with a better home environment and we upgraded to a condo. Once we got used to that environment, we realised that our savings would not be sufficient to fund our retirement and we certainly don't want to downgrade back to a HDB flat so soon.

So we put our retirement plan on hold and plodded on. At every step of the way, of course, we enjoyed life a little. Every year we continued our tradition of overseas vacation, my wife and I owned a car each, we eat out at restaurants 10 times a month, we have the latest electronic gadgets, etc...

But let me tell you, you can never get rid of the worry of whether you have enough for retirement. And I think it is a good thing in that it shows you are aware and concern. If you don't have such worry, you better be very wealthy because if not, you will be in for a very nasty retirement.

It's human nature. Always find "consume" easy, but letting goes appeared more difficult. Stay humble and trim at the start, will safe you all the worry later on.
Contentment seems missing in our modern world.. Stay positive, you don't so much to live simply... but you will need a lot to keep up with the Jones.

Originally Posted by Unregistered

Many people are highly successful in this forum.
My spouse and I, 47 & 49, have not achieved as much, modest in comparison.
We only manage to own just a paid up condo worth 2m.
We only earn 155k pa in total.
We are many years away from being able to retire.
Our net worth is only 2.5m, I think we need at least 4m net worth to retire.
We have to work maybe until we are 70 years old to retire.

If you open your mind, you can actually retire now. You can sell your condo at $2m and buy dividend stocks giving you 5% pa dividend yield. So you will get $100k pa of dividends. Convert this to RM and you get RM260k pa. You then can retire in luxury in KL or Penang. Or you can retire like a big tycoon in Thailand.

Originally Posted by Unregistered

If you open your mind, you can actually retire now. You can sell your condo at $2m and buy dividend stocks giving you 5% pa dividend yield. So you will get $100k pa of dividends. Convert this to RM and you get RM260k pa. You then can retire in luxury in KL or Penang. Or you can retire like a big tycoon in Thailand.

lol, look at comments on page 475!!

this guy is not letting up.

to the person who is coming up with all these stories and replying to them, it's very obvious that your writing style is the same. please stop wasting space in this thread!

Originally Posted by Unregistered

It's human nature. Always find "consume" easy, but letting goes appeared more difficult. Stay humble and trim at the start, will safe you all the worry later on.
Contentment seems missing in our modern world.. Stay positive, you don't so much to live simply... but you will need a lot to keep up with the Jones.

Well said, this is very true. However I have to agree that having 2.5m net worth is very far from retirement. Owning a 2m condo isn't really a big deal nowadays, but you should be content to work hard and continue your well-earned lifestyle.

On the upside, your friends and relatives are likely to hold you in high regard for your achievements and lifestyle. You are definitely not lacking in respectability and your success is clear for all to see. Many couples would envy what you currently have and would do well to achieve something similar in their lifetimes.

Be grateful and thank our government for their pro growth policies and making ordinary Singaporeans rich.

Both my wife(Insurance but not agent) and my self (Oil and Gas) are 31 years old.

Total income is around 240k SGD (Including all sorts of bonus) per year.

Fully paid up 4room flat and car. No kid.

Hope to buy a 2nd property within the next 3 years (or when they remove the cooling measures)