How much are you earning per annum?

Originally Posted by Unregistered

My wife and I are in our early fifties. We don't earn so much, only a total of $150k pa. In 2005, we sold our flat and upgraded to a resale condo which we bought for only $600k. We used the sales proceeds of selling our flat to pay as down payment for the condo. We took a small mortgage and paid the loan off last year. We are happy with our achievement so far since we are now debt free.

We will continue to work hard to prepare for retirement. We are saving $50k pa. When we retire, we will sell our big condo and buy a small studio condo for the two of us. We will find a condo near an MRT station and shopping amenities so that we can give up our car and will stop employing a maid.

How come you cannot get bored everyday telling people how much you made and how much you spouse made.

I know pretty well everybody come to this forum all are very well educated and make a lot of money. Those who make little will find no time for all these nonsense as they have to make a living even late at night or over the weekends.

So whether you make a million a year or not, just keep it to yourself. Don't ask if you can afford to retire by 65 or 75. Always remember, third world country people still can survive with less than a dollar a day.......

Originally Posted by Unregistered

49 & 48, middle class workers.
2 children.

Live in a condo. Bought in 2003. Paid up. Current valuation $1.5m.
Drive a 2L car. Paid up.

Total income $153k pa. Total savings $40k pa.
Total net worth $2m.

We like the idea suggested by someone about downgrading to a small condo when we retire.
If we retire at 60, we will sell our current condo and buy a studio condo.
We can then use the cash to buy private annuities for our retirement.
CPF Life will also pay us.

How come you cannot get bored everyday telling people how much you made and how much you spouse made.

I know pretty well everybody come to this forum all are very well educated and make a lot of money. Those who make little will find no time for all these nonsense as they have to make a living even late at night or over the weekends.

So whether you make a million a year or not, just keep it to yourself. Don't ask if you can afford to retire by 65 or 75. Always remember, third world country people still can survive with less than a dollar a day.......

Originally Posted by Unregistered

I have yet to come across any post on the income tax that people pay, only on claims of their incomes (whether salary or passive).

I have been paying above $20k pa income tax since 2011. Last year, it rose to $26K+. As it is quite substantial (at least to me), I opted for monthly deduction of $2.2k.

It eats up quite a bit of my passive income.

So when I retire, this amount ($26K pa) will be the immediate savings.

Anyone has similar experience? How to minimise the income tax?

How come you cannot get bored everyday telling people how much you made and how much you spouse made.

I know pretty well everybody come to this forum all are very well educated and make a lot of money. Those who make little will find no time for all these nonsense as they have to make a living even late at night or over the weekends.

So whether you make a million a year or not, just keep it to yourself. Don't ask if you can afford to retire by 65 or 75. Always remember, third world country people still can survive with less than a dollar a day.......

Originally Posted by Unregistered

I would like to share how my spouse and I managed to own a condo even though we don't earn much. We are both in our 40s and our total income is now only $170,000 per year. Our income can be considered as average household income at best.

So how do we manage to own a condo? We were lucky as we decided to upgrade to our condo after selling our HDB flat in 2006. We used the sales proceeds from the sale of our flat as downpayment for the condo and we just took a small loan. Today, we managed to clear our mortgage loan and the value of the condo has gone up since 2006 (value has dropped since 2013 though). Anyway what is most important is that we are now among the top 20% in Singapore living in a private property. We plan to retire in our condo and enjoy our condo facilities.

Our retirement plan is to invest in the CPF Life so that we will get income every month from our CPF Life. We can expect to get $3600 per month as a couple at 65. We will also save and get dividends of $2000 per month. Our children will give us $1000 per month. So, in total our passive income will be $6600 per month or $79,200 per year.

How come you cannot get bored everyday telling people how much you made and how much you spouse made.

I know pretty well everybody come to this forum all are very well educated and make a lot of money. Those who make little will find no time for all these nonsense as they have to make a living even late at night or over the weekends.

So whether you make a million a year or not, just keep it to yourself. Don't ask if you can afford to retire by 65 or 75. Always remember, third world country people still can survive with less than a dollar a day.......

The typical poster in this forum is 40 years old and earns at least S$300k pa.
Those above 50 and earning less than S$300k pa are considered lousy.

The typical poster here is a retrenched jobless PMET in his 40s who have too much free, thus writing out his fantasy to make his miserable life feel better.

The format of the story is always the same. Poster earns $200-$300K, spouse also earns $100-$150K, stay landed & drive luxury cars... but need to list down their assets & ask "So how? what do u think..."

Originally Posted by Unregistered

Originally Posted by Unregistered View Post
“Jobs paying less than $12,000 a month cover about 94% of the local workforce, hence most jobs would be covered by the advertising requirement. Many employers typically recruit for positions paying $12,000 and above using executive search firms, rather than through open advertisements. We expect employers to instruct their headhunters to source for candidates on merit, including Singaporean candidates. If complaints are received that a firm may have nationality-based unfair hiring practices, they may be subjected to additional scrutiny and have their work pass privileges curtailed.”

So there, 94% of our local workforce makes less than S$12k a month.


://.salary.sg/2015/94-percent-of-local-workforce-makes-less-than-12k-a-month/

Well, i guess statistics don't lie.

the forum paints a very skewed picture. for example, if u look at the posts here, one might conclude that 94% of our workforce earns $12k & above
and add to further confusion, some trolls would even say $10k per month salary is the norm today, everyone else they know earns $20k & above

In short, read everything but form your own judgement


How come you cannot get bored everyday telling people how much you made and how much you spouse made.

I know pretty well everybody come to this forum all are very well educated and make a lot of money. Those who make little will find no time for all these nonsense as they have to make a living even late at night or over the weekends.

So whether you make a million a year or not, just keep it to yourself. Don't ask if you can afford to retire by 65 or 75. Always remember, third world country people still can survive with less than a dollar a day...........

This is a sharing of statistics, not telling of how much the poster earns or what assets he have. U cannot read basic English??? Are u fxxx blind??

Originally Posted by Unregistered

The typical poster here is a retrenched jobless PMET in his 40s who have too much free, thus writing out his fantasy to make his miserable life feel better.

The format of the story is always the same. Poster earns $200-$300K, spouse also earns $100-$150K, stay landed & drive luxury cars... but need to list down their assets & ask "So how? what do u think..."

Haha, how true. My favourite is when he said his own net worth is $5m and he saves $300k pa. Classic. Sad life.

This is an awesome idea!

I also own a flat which I can rent out at $2.8k pm. My passive income from stocks is $1k pm, so my total passive income can likely be $3.8k pm. After conversion to RM, I can get RM11.4k pm. I can pay for the bungalow rent for RM5k pm and spend RM3k pm in other expenses. Savings of RM3.4k pm.

I'm excited. Once my kids get married, I can retire in Penang! LOL.

Don't need to be a fool to work so hard until 70 years old (only to die at 75) to accumulate $2m to retire. Can retire at 55. LOL.

Penang, here I come! LOL !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Originally Posted by Unregistered

We are not as successful as you. We are around your age. Our retirement plan is to rent out our fully paid 5 room EA for $3k pm. On top of this we have other sources of passive income giving us another $2k pm. With $5k pm, we can get RM15k pm. We will then retire in Penang, where we can rent a big bungalow with swimming pool for RM5k pm. Our other expenses will be RM3k pm so our total retirement expenses will be RM8k pm. We will save RM7k pm. We envisage our children will be working and married when we reach 58. We will retire at that time. The bungalow will have 5 rooms so our children and our future grandchildren can visit us twice a year. They can enjoy the pool with complete privacy.

So we will have a luxurious retirement in Penang and living in a big bungalow. In Spore, such bungalows will cost $20m and above.

Originally Posted by Unregistered

The typical poster here is a retrenched jobless PMET in his 40s who have too much free, thus writing out his fantasy to make his miserable life feel better.

The format of the story is always the same. Poster earns $200-$300K, spouse also earns $100-$150K, stay landed & drive luxury cars... but need to list down their assets & ask "So how? what do u think..."

A lot of people here too free, so spend time fantasising about leading a rich life.

Do you think a couple earning 300-500k pa needs to ask people on the internet for advice on how to manage their wealth?