How much are you earning per annum?

hello everyone. i am 45 this year, and married with two kids. i make about $10k per month with US MNC. my wife is also working and earns about $10k per month also. recently i have been transferred to a new role under another boss. unfortunately the job scope has drifted, and it is causing me undue stress. i have spoken to my boss, but chose to ignore on it. i am having bad anxiety, and keeps waking up at 2am or 3 am midnight. I dont think it is getting better. i think i have to quit. however at my age i dont think i can get another similar industry job with this salary level. i want to ask the people out here if there's anyone of similar experience? i have paid up my HDB and a paid up new car, so i basically debt free. please help to advise me. thank you.

If you are in depression, then you should quit as a person in a depression is a burden to your family. Quit and find another job which you can do easily. Money is not everything. Since you are debt free, your wife can support your family for the time being while you find another job.

In the meantime, you can do the housework and send and fetch your wife to and from work everyday so that she is not stressed up standing in crowded trains and buses. You can also spend more time with your family. If you have a maid, you can stop employing her and you do the cooking, washing clothes, cleaning the house, etc. Once you get a new job, you can hire another maid.

How much is your personal net worth and combined net worth with your wife?

Originally Posted by Unregistered

hello everyone. i am 45 this year, and married with two kids. i make about $10k per month with US MNC. my wife is also working and earns about $10k per month also. recently i have been transferred to a new role under another boss. unfortunately the job scope has drifted, and it is causing me undue stress. i have spoken to my boss, but chose to ignore on it. i am having bad anxiety, and keeps waking up at 2am or 3 am midnight. I dont think it is getting better. i think i have to quit. however at my age i dont think i can get another similar industry job with this salary level. i want to ask the people out here if there's anyone of similar experience? i have paid up my HDB and a paid up new car, so i basically debt free. please help to advise me. thank you.

$2000 for food and groceries is rather high it seems
this is on top of your own $1000 which you said is for food and misc
When means the $2000 you wife spends on food and groceries doesn't include your food
Is it because you guys eat out at restaurants very often?
I used to do that and it pushed up my food expenses by a lot. So now we make an effort to cook simple meals but use very high quality ingredients, which end up still being cheaper than eating out in restaurants, and also much healthier as we can decide how much oil and salt we put it.
Eating out for a small family at normal restaurants costs at least $50 per meal. Even if just for sat and sun lunch and dinner, that's at least $800 per month already.

Rest of the expenses are somewhat reasonable. Car maybe luxury but if it's within budget and gives some pleasure in daily life I don't see why not.

Originally Posted by Unregistered

49, income $7450 pm (annual/12), savings $1300 pm
Here's my expenses
Condo mortgage $1200 pm
Car loan installment $1000 pm
Car related expenses $1000 pm
Parents allowance $800 pm
Insurance $800 pm
Utilities and Internet $350 pm
Food and misc $1000 pm
Total $6150 pm

Spouse, 47, $7000 pm, savings $1100 pm
Expenses
Condo mortgage $1000 pm
Groceries and food $2000 pm
Parents allowance $600 pm
Insurance $800 pm
Kids $500 pm
Misc $1000 pm
Total $5900 pm

Any comments on our expense items? Too much? Too little? Ok?

Have you tried looking around for another job?
Sometimes it's better to just hang on to a shitty job but start looking for another opportunity
At least while you face a depressing situation, you can tell yourself that you are actively doing something to get out of it, and also being responsible to your family.
It beats going without job and income and having to worry about finding another job all at same time, which could be worse.
Furthermore having an existing employment kind of gives you some bargaining power for the next job since the new employer will likely at least match your current pay if it wants to offer you. Without a job, some may take advantage your situation especially if you are many months without a job.

Originally Posted by Unregistered

hello everyone. i am 45 this year, and married with two kids. i make about $10k per month with US MNC. my wife is also working and earns about $10k per month also. recently i have been transferred to a new role under another boss. unfortunately the job scope has drifted, and it is causing me undue stress. i have spoken to my boss, but chose to ignore on it. i am having bad anxiety, and keeps waking up at 2am or 3 am midnight. I dont think it is getting better. i think i have to quit. however at my age i dont think i can get another similar industry job with this salary level. i want to ask the people out here if there's anyone of similar experience? i have paid up my HDB and a paid up new car, so i basically debt free. please help to advise me. thank you.

Originally Posted by Unregistered

Have you tried looking around for another job?
Sometimes it's better to just hang on to a shitty job but start looking for another opportunity
At least while you face a depressing situation, you can tell yourself that you are actively doing something to get out of it, and also being responsible to your family.
It beats going without job and income and having to worry about finding another job all at same time, which could be worse.
Furthermore having an existing employment kind of gives you some bargaining power for the next job since the new employer will likely at least match your current pay if it wants to offer you. Without a job, some may take advantage your situation especially if you are many months without a job.

Oh yes. I forgot to update another point

With current employer. I have to serve 3 months notice.

I have been to one interview recently, and it was Ok until they hear the 3 month wait.

You must be damn stressed. Wake up and reply message at 4am. Get some sleep.

I have never thought of how much I earn a day until my daughter asked me whether she should take up an internship with a GLC. The GLC offered her $50 a day for 22 days per month for 3 months.

I told her to take it up as firstly the pay was ok (per month is $1100 for an intern) compared to what I got when I was doing my industrial attachment many years ago. Then I was paid $250 per month! Secondly, the exposure and experience would be good for her.

Mentally I was calculating how much per day my wife and I earn. Based on our combined income of $380K - $400K pa (incl. bonuses), we would be earning more than $1k per day! It was quite mind blowing.

[aplover]

Originally Posted by Unregistered

I have never thought of how much I earn a day until my daughter asked me whether she should take up an internship with a GLC. The GLC offered her $50 a day for 22 days per month for 3 months.

I told her to take it up as firstly the pay was ok (per month is $1100 for an intern) compared to what I got when I was doing my industrial attachment many years ago. Then I was paid $250 per month! Secondly, the exposure and experience would be good for her.

Mentally I was calculating how much per day my wife and I earn. Based on our combined income of $380K - $400K pa (incl. bonuses), we would be earning more than $1k per day! It was quite mind blowing.

I would like to challenge you to give a small portion of that away to charity every year. My wife and i are christians, we tithe and donate slightly more than 10% every month/year.

As you and i have been blessed with much, others have less. Let's help them more in life. Donating to IPC charities also allow you to enjoy tax deduction anyway.

Originally Posted by aplover

I would like to challenge you to give a small portion of that away to charity every year. My wife and i are christians, we tithe and donate slightly more than 10% every month/year.

As you and i have been blessed with much, others have less. Let's help them more in life. Donating to IPC charities also allow you to enjoy tax deduction anyway.

I will be skipping the challenge, thanks for the offer.

Good for you and all other generous hearts.

We do give to charities and to our church.

What I believe is that people need jobs more than handouts. Handouts are starting points but jobs give dignity and sense of pride/achievement to people and are more sustainable, as I have said in an older post.

By employing maids from poorer regions we give them and their families a lifeline and hope. I can see in our maid her joy and pride when she told us that she was helping out her family back home in Indonesia and sending her younger brother through school. She also has dignity in being able to work for her own money rather than rely on charitable handout.

We used to wash our own cars, but now we let an indian man washed them for us at $80 per month for our 2 cars. This was after bumping into the man and finding out that his wife was ill and he had two young children to feed and he had only primary schooling. He now feels proud that he could take care of his family without depending on others. He covers 2 to 3 condos in our neighbourhood.

There are many examples where we could help, not by giving handouts, but by participating in our economy. By getting a handy man to our home to do plumbing, electrical repairs etc, we are helping another person employed and feeding his family.

On a bigger scale, imagine if everyone pulls back from spending, many companies would fold and we will all be out of jobs!

Originally Posted by aplover

I would like to challenge you to give a small portion of that away to charity every year. My wife and i are christians, we tithe and donate slightly more than 10% every month/year.

As you and i have been blessed with much, others have less. Let's help them more in life. Donating to IPC charities also allow you to enjoy tax deduction anyway.