How much are you earning per annum?

Originally Posted by Unregistered

I went thru this stage a few years ago before hitting 40. Its probably mid life crisis and to me, it ls just a phase which ran its course over a period and i am no longer having this feeling. Today, I am still in the company and learning to enjoy what i am doing now while getting paid (well paid).....

Care to elaborate how to overcome it without resignation?
The days are difficult to get by.....

After 24 years, only 4.3k per month.. Life is tough..

Originally Posted by Unregistered

Care to elaborate how to overcome it without resignation?
The days are difficult to get by.....

I think taking up a sport helps. I started cycling every sunday and then a few months later, started swimming every sat in addition to the sunday rides. And recently, started running on weekdays as well.

Originally Posted by Unregistered

After 24 years, only 4.3k per month.. Life is tough..

for me engineering field, after 18 years, about $12k pm. about average i think if i compare against my university peers.

Married couple, 40 & 39 years old. Two teenage kids.
Total income $218k pa.
Total expenses $159k pa.
Total savings $59k pa.

Key expenses

- Mortgage (until age 55) $2400 pm
- Car loan and car related expenses $1800 pm
- Kids expenses including tuition $1000 pm
- Food, groceries, utilities and eating out $1700 pm
- Parental allowance $1400 pm
- Insurance $1600 pm
- Holidays $10,000 pa
- Others $2500 pm

Net worth

- Equity on condo $850k
- Cash and CPF savings $400k
- Total net worth $1.25m

Are we doing ok financially?
How can we prepare for retirement?
Is it possible for us to retire at 55?
We appreciate good, serious advice.
Thanks.

Originally Posted by Unregistered

Married couple, 40 & 39 years old. Two teenage kids.
Total income $218k pa.
Total expenses $159k pa.
Total savings $59k pa.

Key expenses

- Mortgage (until age 55) $2400 pm
- Car loan and car related expenses $1800 pm
- Kids expenses including tuition $1000 pm
- Food, groceries, utilities and eating out $1700 pm
- Parental allowance $1400 pm
- Insurance $1600 pm
- Holidays $10,000 pa
- Others $2500 pm

Net worth

- Equity on condo $850k
- Cash and CPF savings $400k
- Total net worth $1.25m

Are we doing ok financially?
How can we prepare for retirement?
Is it possible for us to retire at 55?
We appreciate good, serious advice.
Thanks.

you are doing great. as some of the forumers here would suggest, you can retire in Malaysia and Thailand, and you will become multi millionaire

Hi,

It is possible for you to retire at 55 based on these assumptions and conditions when you reach 55

1. Your condo fully paid
2. Kids are grown up and working, hence no more expenses for the kids
3. Your parents are no longer around, hence no more parental allowance for them
4. You don't drive, hence no more expenses on car
5. Insurance expense halved as kids will pay their own insurance

So, expenses cut will be $(2400 + 1800 + 1000 + 1400 + 800) pm = $7400 pm

Your expenses will be say $4000 pm or $48k pa, including holidays.

Since you save $59k pa, over 15 years, you will save $885k. You then invest in 5% dividend yield stocks to give you $44k pa. Your kids will each give you $1k pm, so in total you get $24k pa. Passive income total $68k pa. You can save $20k pa.

At 65, you will get an extra $3500 pm or $42k pa from CPF Life. You can save this or spend more on holidays or buy a car.

Originally Posted by Unregistered

Married couple, 40 & 39 years old. Two teenage kids.
Total income $218k pa.
Total expenses $159k pa.
Total savings $59k pa.

Key expenses

- Mortgage (until age 55) $2400 pm
- Car loan and car related expenses $1800 pm
- Kids expenses including tuition $1000 pm
- Food, groceries, utilities and eating out $1700 pm
- Parental allowance $1400 pm
- Insurance $1600 pm
- Holidays $10,000 pa
- Others $2500 pm

Net worth

- Equity on condo $850k
- Cash and CPF savings $400k
- Total net worth $1.25m

Are we doing ok financially?
How can we prepare for retirement?
Is it possible for us to retire at 55?
We appreciate good, serious advice.
Thanks.

Thank you sir for this great advice. It motivates me to know that we are on the right track and can actually retire by 55. We will work hard and try to save as much as we can. We can start investing now.

Have a great day, sir! :-)

Originally Posted by Unregistered

Hi,

It is possible for you to retire at 55 based on these assumptions and conditions when you reach 55

1. Your condo fully paid
2. Kids are grown up and working, hence no more expenses for the kids
3. Your parents are no longer around, hence no more parental allowance for them
4. You don't drive, hence no more expenses on car
5. Insurance expense halved as kids will pay their own insurance

So, expenses cut will be $(2400 + 1800 + 1000 + 1400 + 800) pm = $7400 pm

Your expenses will be say $4000 pm or $48k pa, including holidays.

Since you save $59k pa, over 15 years, you will save $885k. You then invest in 5% dividend yield stocks to give you $44k pa. Your kids will each give you $1k pm, so in total you get $24k pa. Passive income total $68k pa. You can save $20k pa.

At 65, you will get an extra $3500 pm or $42k pa from CPF Life. You can save this or spend more on holidays or buy a car.

One 3 million dollars condo given to me by my parents. I am waiting for my inheritance of a few million dollars when my parents pass away. They are doing very well as CEOs. I am married and happy, with no children. No mortgage and no loans to worry about. I volunteer and stay humble.

26yo,single
Highest Qualification - N & O Level
Post - Administration Manager (Not my parents company)
2011-14.4k pa.
2013- 31.2k pa.
2014- 48k pa.

Total income $48k pa.
Total expenses $24k pa.
Total savings $0k pa.
Total Invest $24k pa.

Key expenses

- Mortgage (until age 55) $0 pm
- Company Car petrol expenses $200 pm
- Eat Out $1680 pm


Net worth

- Equity on fully paid parent's HDB (Central) $680k
- Equity on Malaysia Land of 1,000 acre = 400 Hectare $12m
- Equity on Parent's Company (Msia) worth $5m
- Equity on Stocks $300k
- Total net worth $17.98m

I am wondering should i go for diploma and degree courses as my parents kept on persuade me to take up pte Dip & Degree. Any Suggestion on preferred university that recognized by government and close 1 eye also can graduate course? Thanks.
Above is my few cents to share. Time to go meet ladies, have a good evening.