How much are you earning per annum?

im 26 this year, earning $5k+ pm.. about $70-80k per year including bonuses.

using the .salary.sg calculator, im in the top 6.9% of earners in the 25-29 age group.

sure or not?

Originally Posted by anon

im 26 this year, earning $5k+ pm.. about $70-80k per year including bonuses.

using the .salary.sg calculator, im in the top 6.9% of earners in the 25-29 age group.

sure or not?

Which industry? Local grad or FT?

My annual package when I were your age is only around 35k.

46 & 48, $230k pa in total. Saves $50k pa.
Living in a condo in the OCR, worth $1m. $250k loan left.
School going kids in primary school.
Drives a 2L European car, $80k loan left.

Current total net worth, including the condo, $1.3m.
We plan to clear the mortgage in 20 years time.
How are we doing? Any suggestions how do we plan for our retirement?

29 yrs old. 48kpa.

am I too low?

Originally Posted by Unregistered

29 yrs old. 48kpa.

am I too low?

actually, it is very high. there are people in their 40s earning $35k pa.

Originally Posted by Unregistered

46 & 48, $230k pa in total. Saves $50k pa.
Living in a condo in the OCR, worth $1m. $250k loan left.
School going kids in primary school.
Drives a 2L European car, $80k loan left.

Current total net worth, including the condo, $1.3m.
We plan to clear the mortgage in 20 years time.
How are we doing? Any suggestions how do we plan for our retirement?

You are a high powered couple, earning a very high income and living in a condo. Only 15% of Singaporeans live in condo our landed. 85% of Singaporeans live in HDB flats.

In 20 years time, you would have saved $1m cash and your condo mortgage would be cleared. Assuming your condo value rise from $1m to $1.2m over the 20 years, your net worth as a couple would be around $2.75m.

You can then sell your condo. You then have about $2.2m cash in hand. With the $2.2m cash, you can convert to RM and get about RM6 mil. You can retire like a rich tycoon in Malaysia. If you convert to Thai baht, you can retire like a Thai billionaire.

Or you can retire humbly in Singapore by investing the $2.2m cash in 4% dividend yield stocks which will give you $88k pa. Plus your CPF Life you will get an extra $36k pa. In total, you will get $124k pa in dividends. You can retire modestly with this passive income. Just make sure you don't gamble, own a car, employ a maid, drink, party, smoke or womanise. These are money drainers.

Originally Posted by Unregistered

actually, it is very high. there are people in their 40s earning $35k pa.

I see. coz I see the previous post all like earning a lot. and compare to peers, I am consider the lowest.

Typical graduate is clocking $50kpa.

Considering some in the 25 and 26 years old are still schooling in the uni, it is no surprise that you are among the top 6.9%

Do not be complacent, even if you managed to clock $100k by the time you are 30, see where you rank.

Originally Posted by anon

im 26 this year, earning $5k+ pm.. about $70-80k per year including bonuses.

using the .salary.sg calculator, im in the top 6.9% of earners in the 25-29 age group.

sure or not?

43, non grad, $56k pa.
Wife, 38, grad, $80k pa.
Savings, $20k pa.
Home - resale EC.
Car - small 1L old car.
Combined net worth, $800k.

Why is everyone building passive income by liquidating assets and running to Malaysia or Thailand.

U get a shitty standard of living and u wanna spend the rest of your life this way?

IMO just spend whatever u have after liquidating, you deserved it Afterall. Don't think about passive income. That's too late for retirement.
If u wanna leave for your offspring, I suggest u don't. Cos u grew up fine without it, so will they.