How much are you earning per annum?

It is obvious you are very jealous.

Looking at his post, the old engineer wasn't bragging. He was trying to encourage fellow engineers that financially, they would be alright in the long run, even though many posters talked down the profession.

The old engineer's post was not only encouraging, but truly inspirational. I can imagine that salaries during his early working years must have been very low unlike now where starting salaries for fresh grad engineers can go as high as $4k+. (Ref. the forum on DSTA).

Yet the fact that he was able to build up his wealth (though combined with spouse) to what it is now is nothing short of amazing. And I would not be so impressed if an old banker tells me he has $5m right? In fact, with only $5m, I should think the old banker didn't make it.

And one advice for you, do not envy others. Jealousy and resentment is not good for your health.

Originally Posted by Unregistered

This is true. In my bank, the young bosses in their early 40s already have net worth of more than $10m. Their bungalow alone are worth at least $5m. This is not combined net worth. This is their own net worth. You figure out what is their combined net worth with their spouses (who are also investment bankers).

In this forum, an old engineer likes to brag about his combined net worth of $5m.
LOL !!!! Hilarious !!!!!!!

Originally Posted by Unregistered

It is obvious you are very jealous.

Looking at his post, the old engineer wasn't bragging. He was trying to encourage fellow engineers that financially, they would be alright in the long run, even though many posters talked down the profession.

The old engineer's post was not only encouraging, but truly inspirational. I can imagine that salaries during his early working years must have been very low unlike now where starting salaries for fresh grad engineers can go as high as $4k+. (Ref. the forum on DSTA).

Yet the fact that he was able to build up his wealth (though combined with spouse) to what it is now is nothing short of amazing. And I would not be so impressed if an old banker tells me he has $5m right? In fact, with only $5m, I should think the old banker didn't make it.

And one advice for you, do not envy others. Jealousy and resentment is not good for your health.

From what I learnt from forumers in this tread, I believe engineers make a lot of money during the hey days of the yesteryears. I also tend to believe due to their ignorant, engineers are rather bad investors in share markets. Could it be these engineers were badly burn during 1987, 1991, 1997, 2002 and 2008 that wipe out their hard earn money? Only they themselves know.

Originally Posted by Unregistered

It is obvious you are very jealous.

Looking at his post, the old engineer wasn't bragging. He was trying to encourage fellow engineers that financially, they would be alright in the long run, even though many posters talked down the profession.

The old engineer's post was not only encouraging, but truly inspirational. I can imagine that salaries during his early working years must have been very low unlike now where starting salaries for fresh grad engineers can go as high as $4k+. (Ref. the forum on DSTA).

Yet the fact that he was able to build up his wealth (though combined with spouse) to what it is now is nothing short of amazing. And I would not be so impressed if an old banker tells me he has $5m right? In fact, with only $5m, I should think the old banker didn't make it.

And one advice for you, do not envy others. Jealousy and resentment is not good for your health.

Finally a sensible post. Look down to other profession in not a healthy practice, but looks like many professionals are unable to understand it.

Originally Posted by Unregistered

This is true. In my bank, the young bosses in their early 40s already have net worth of more than $10m. Their bungalow alone are worth at least $5m. This is not combined net worth. This is their own net worth. You figure out what is their combined net worth with their spouses (who are also investment bankers).

In this forum, an old engineer likes to brag about his combined net worth of $5m.
LOL !!!! Hilarious !!!!!!!

Ya, but during crisis, these "multi-millionaires" are crying and begging for a job.. and forced to sell their highly leveraged bungalow..

Originally Posted by Dives

Wow so many rich bankers. Just out of curiosity which districts are these bungalows in? When people tell me bungalow I'm thinking in excess of 15m ?

So many bankers live in bungalow, but if you go to these areas.. you hardly find them.. mostly are CEOs or owners of big companies... and foreigners from neighbouring countries.. also businessmen..

Originally Posted by Unregistered

From what I learnt from forumers in this tread, I believe engineers make a lot of money during the hey days of the yesteryears. I also tend to believe due to their ignorant, engineers are rather bad investors in share markets. Could it be these engineers were badly burn during 1987, 1991, 1997, 2002 and 2008 that wipe out their hard earn money? Only they themselves know.

Bankers are very good investors.. most of them are too good instead.. they know too much and read too much WSJ, financial news.. and eager for high return.. most of them either speculate penny stocks and burnt badly or buy too much high yield stocks.. to play safe... They hardly invest in growing stocks.. because they will tell you, wah, now FED wants to cut QE, Europe side no good, CHina hard landing... until they don't dare to invest.. but they can really talk.. we are talking about steady growth wealth accumulations.. like WB.. not like those ride through the QE 3 years back make 10M in 3 years but lose 15M for the next 10 years..

Originally Posted by Unregistered

Bankers are very good investors.. most of them are too good instead.. they know too much and read too much WSJ, financial news.. and eager for high return.. most of them either speculate penny stocks and burnt badly or buy too much high yield stocks.. to play safe... They hardly invest in growing stocks.. because they will tell you, wah, now FED wants to cut QE, Europe side no good, CHina hard landing... until they don't dare to invest.. but they can really talk.. we are talking about steady growth wealth accumulations.. like WB.. not like those ride through the QE 3 years back make 10M in 3 years but lose 15M for the next 10 years..

Ya, engineers love 4%. It is safe.
But I prefer CPF. May be less but definitely safer.

Originally Posted by Unregistered

Ya, engineers love 4%. It is safe.
But I prefer CPF. May be less but definitely safer.

We like companies with real business.. and are still stable during recession... may be slow, but stable return.. wealth accumulation is about patience and do the right decision..
Not roller coaster.. drive sports cars during good time.. take bus during bad time... but bad more than good..

Originally Posted by Unregistered

We like companies with real business.. and are still stable during recession... may be slow, but stable return.. wealth accumulation is about patience and do the right decision..
Not roller coaster.. drive sports cars during good time.. take bus during bad time... but bad more than good..

Good share bad share make no different. Both will drop during bad times, only to different extent.
Good share leads when market rebound from bottom, bad share play a catch up game.
Bad share is the negative market mover when market peaked, good share then follows.
What is the time now on investment clock ? 1205hrs.
Investment clock at 1155hr, 1200hr and 1205hr is very difficult to differentiate because the changes is too small. By the time most people notice, it is already at 0300hr where the drop become very drastic. It really depends on your skill, acutement and sensitivity to the market. This make IB different from engineers, and this is the reason why IB makes very much more than engineers.

Originally Posted by Unregistered

Good share bad share make no different. Both will drop during bad times, only to different extent.
Good share leads when market rebound from bottom, bad share play a catch up game.
Bad share is the negative market mover when market peaked, good share then follows.
What is the time now on investment clock ? 1205hrs.
Investment clock at 1155hr, 1200hr and 1205hr is very difficult to differentiate because the changes is too small. By the time most people notice, it is already at 0300hr where the drop become very drastic. It really depends on your skill, acutement and sensitivity to the market. This make IB different from engineers, and this is the reason why IB makes very much more than engineers.

Ya, IB stares at the screen for 16 hours a day... Asian to Europe to US market.. and sweat with heart pumping out... many sold by just making peanuts.. because they are concerning too much about the news... there are probably thousands of financial news/articles everyday.. they trade by emotion.. and most fail.. at the end.. they all read about WB investment wisdom and 100% of them thinks it is too conservative and slow... they want to get rich in a month.. and thinks they are better than WB.. that's y there is only 1 WB.. others walk in and out of the banks everyday and earn nothing.. except debts.. this is 99.99% of IBankers...