How much are you earning per annum?

Bankers are paid a lot more than engineers.

Bankers can retire in their 40s. Engineers need to work until their late 60s.

Fact of life.

Originally Posted by Unregistered

Bankers are paid a lot more than engineers.

Bankers can retire in their 40s. Engineers need to work until their late 60s.

Fact of life.

People always compare bankers with engineers. Since so many people have the facts, can anyone can share the salary comparison? (Average)


Engineers Bankers

Fresh Grad

3 years experience

5 years experience

10 years experience

20 years experience

Originally Posted by Unregistered

People always compare bankers with engineers. Since so many people have the facts, can anyone can share the salary comparison? (Average)


Engineers Bankers

Fresh Grad

3 years experience

5 years experience

10 years experience

20 years experience

Don't be childish - so many different kind of engineers and bankers how to compare? A niche software engineer from Google is paid like 10x that of a small factory mechanical engineer. Same for finance where a investment banker paid 10-20x that of a POSB Jurong branch banker. How to lump them altogether and compare "average"?

This is an idea for those O&G engineers and bankers who recently got retrenched. Time to retire early and enjoy life.

Good retirement plan in KL or Penang (retire in luxury) for a retired couple at 55 years old (assuming no dependents)

Passive income at 55
Rent out fully paid HDB flat S$2.5k pm
Stocks dividends S$1k pm
Total S$3.5k pm or RM10.5k pm

KL or Penang cost of living
Rent a 3 bedroom condominium RM2k pm
Car expenses RM500 pm (assume buy car in cash RM50k)
Food, groceries, restaurants and utilities RM2k pm
Medical and entertainment RM1k pm
Misc RM500 pm
Total spending RM6k pm
Savings RM4.5k pm

Passive income at 65
Rent out fully paid HDB flat S$2.5k pm
Stocks dividends S$1k pm
CPF Life (Enhanced Retirement Scheme), couple gets S$3.5k pm
Total income S$7k pm or RM21k pm
Total spending RM8k pm
Savings RM13k pm

This retirement plan allows you to live in a nice condo and drive a nice car. You can go holidays all over the world every year if you want to since you will have lots of savings.
Your key retirement assets are: 1. HDB flat 2. CPF Life 3. Dividend blue chip stocks.

Originally Posted by Unregistered

Bankers are paid a lot more than engineers.

Bankers can retire in their 40s. Engineers need to work until their late 60s.

Fact of life.

[lazyplane]

Agree.. The fake poster can still reply to my post stating he is only renting out 2 room not whole unit to meet MOP rules... Sigh.

Ayioh, want to stir xenophobia, at least do it smartly lah.
Please go read the HDB rules and do some properly research on new citizens lah...

From my own discussion with new citizens, they are definitely more rule abiding and diligent for such HDB matters . They know it is stupid to flout this 5 year rule. And 5 years can pass very quickly. To make money on their HDB, they know it is easier to just keep it for the 5 years and then sell.
they have done their sums and know how to play it properly. ie say rental 2k x 12 mths x 5 yr = 120k only. Why risk your full flat value + penalty for this pitiful 120k . Moreover, as a new citizen, u can ask friends/parents etc to stay with you when they visit...

Originally Posted by Unregistered

Probably some anti-gov moron. They like to pose as foreigners and make up stories of bad behavior to stir up xenophobia. Go transitioning.org can see many fake 'expat' post dubious stories which the oppo guy webmaster from a rubbish small party happily upload to get traffic.

Today is a blessed day. It is raining. Rain is a blessing.

As I look out the window, I feel blessed as I can afford to enjoy the morning, lying on my bed. I recalled my earlier days as a high flying corporate executive. Those days were crazy days, rushing early in the morning, stuck in traffic, rushing from one meeting to another, flying from one city to another, rain or shine.

But it was worth it as the hard work enables me to earn a fortune. I had plenty of cash to invest. My many years of investments paid off extremely well. I'm now happily retired, my passive income from investments easily sustains my family. They are enjoying a good life too - living in a nice condo, going overseas holidays, driven around in a car, enjoying good food at restaurants, etc.

As a multi millionaire, I'm still busy, busy managing and growing my wealth, busy pursuing the many interests I had no time for previously, busy taking good care of my family, busy spending time with my very old parents and busy volunteering at charities and non profit organisations. Life is more meaningful and fulfilling. I'm healthier and happier.

In life, you have to make tough choices. Choose the wrong career and you can be working all your life. There are many people who did not enjoy a single day of retirement. They died before they retired. That's sad.

Choose the right high paying career, work hard, be the best in your field and become a multi millionaire. You can then afford to retire early and enjoy a full life.

Originally Posted by Unregistered

What happened to the window guy? Hope his view this morning was not affected by the heavy rain.

Originally Posted by lazyplane

Agree.. The fake poster can still reply to my post stating he is only renting out 2 room not whole unit to meet MOP rules... Sigh.

Ayioh, want to stir xenophobia, at least do it smartly lah.
Please go read the HDB rules and do some properly research on new citizens lah...

From my own discussion with new citizens, they are definitely more rule abiding and diligent for such HDB matters . They know it is stupid to flout this 5 year rule. And 5 years can pass very quickly. To make money on their HDB, they know it is easier to just keep it for the 5 years and then sell.
they have done their sums and know how to play it properly. ie say rental 2k x 12 mths x 5 yr = 120k only. Why risk your full flat value + penalty for this pitiful 120k . Moreover, as a new citizen, u can ask friends/parents etc to stay with you when they visit...

Please get your facts right before saying I am a fake poster. SG citizens are allowed to rent out spare rooms within the 5 years MOP. Please check HDB website. Mine is a 4 room flat, I am staying in one room and renting out 2 other rooms. There is NOTHING wrong with that.

If you are not familiar with the HDB rules don't act like you are some expert.

I believe you.

Try to save up for few more years and then go back Malaysia to spend time with your parents.

Perhaps you may do some online business while getting passive income from your rental.

Originally Posted by Unregistered

Please get your facts right before saying I am a fake poster. SG citizens are allowed to rent out spare rooms within the 5 years MOP. Please check HDB website. Mine is a 4 room flat, I am staying in one room and renting out 2 other rooms. There is NOTHING wrong with that.

If you are not familiar with the HDB rules don't act like you are some expert.

Generally, the banking and finance sector pays much more than the engineering sector.

So, generally bankers are paid more than engineers.

Not surprising if you see bankers retiring and enjoying the good life in their 40s, while engineers need to work till their 60s to retire.

Bankers earn more in total throughout their career compared to engineers. So, they can retire 20 years earlier. Simple maths.

Originally Posted by Unregistered

Generally, the banking and finance sector pays much more than the engineering sector.

So, generally bankers are paid more than engineers.

Not surprising if you see bankers retiring and enjoying the good life in their 40s, while engineers need to work till their 60s to retire.

Bankers earn more in total throughout their career compared to engineers. So, they can retire 20 years earlier. Simple maths.

Depends on what you mean by 'generally bankers'. I was a personal banker with OCBC doing mortgages before and drawing a basic of 45k or total 55-60k a year if you include all the incentives. I don't think this is higher compared to most engineers of my age then (33yo)