How much are you earning per annum? - Page 1061 - Salary.sg Forums
Salary.sg Forums  

Go Back   Salary.sg Forums > The Salary.sg Discussion Forums: > Income and Jobs

Income and Jobs Discuss jobs, career options and of course salaries




How much are you earning per annum?

Reply
 
Thread Tools
  #10601 (permalink)  
Old 27-10-2016, 07:41 PM
Unregistered
Guest
 
Posts: n/a
Default

anyone my age here?
28 earning 4.2k, working for 5 years starting with 2.3 k

too low but cannot seem to move

Reply With Quote
  #10602 (permalink)  
Old 28-10-2016, 11:27 AM
Unregistered
Guest
 
Posts: n/a
Default

A husband & wife couple who are both engineers (they are not high income earners) can still retire at 55 if they are disciplined. They must not upgrade their lifestyle even though their income rises over the years.

Assuming they bought their BTO 4 room HDB flat at a very cheap price (at only $300k) and paid their mortgage off by 55 using their CPF. They also stay in their flat all their lives. Also they don't own a car and don't employ a maid (it costs $2k pm to own a car and $1k pm to employ a maid). They can easily save on average $30k pa over their 30 years of working. This means they can save $900k by the time they retire at 55.

With $900k, they can invest in a 5% dividend yield portfolio of good, blue chip stocks which give them $45k pa in dividends. They can also rent out two of their empty rooms since their children would have been married and staying in their own BTO flat. They can get $700 pm for each room.

In total, their passive income will be $5,150 pm. This is enough for them to buy food and pay utilities for two retired old persons. At 65, their passive income will rise by an additional $3,600 pm from their CPF Life. So it becomes $8,750 pm in passive income!

So, even an engineer married couple can retire at 55 if they don't overspend by upgrading to a condo, owning a car and employing a maid. These luxuries are just for those (eg bankers) who are high income earners.

We are very lucky to have the very cheap BTO HDB flat system, which allows those who are not high income earners to easily afford a home and retire comfortably.

Reply With Quote
  #10603 (permalink)  
Old 28-10-2016, 10:56 PM
Unregistered
Guest
 
Posts: n/a
Default

Lucky last time landed is cheap, my civil engineer parents manage to buy a semi D in District 10. Maybe one day some rich banker will come and buy from us, then again also don't need the money lol

Quote:
Originally Posted by Unregistered View Post
A husband & wife couple who are both engineers (they are not high income earners) can still retire at 55 if they are disciplined. They must not upgrade their lifestyle even though their income rises over the years.

Assuming they bought their BTO 4 room HDB flat at a very cheap price (at only $300k) and paid their mortgage off by 55 using their CPF. They also stay in their flat all their lives. Also they don't own a car and don't employ a maid (it costs $2k pm to own a car and $1k pm to employ a maid). They can easily save on average $30k pa over their 30 years of working. This means they can save $900k by the time they retire at 55.

With $900k, they can invest in a 5% dividend yield portfolio of good, blue chip stocks which give them $45k pa in dividends. They can also rent out two of their empty rooms since their children would have been married and staying in their own BTO flat. They can get $700 pm for each room.

In total, their passive income will be $5,150 pm. This is enough for them to buy food and pay utilities for two retired old persons. At 65, their passive income will rise by an additional $3,600 pm from their CPF Life. So it becomes $8,750 pm in passive income!

So, even an engineer married couple can retire at 55 if they don't overspend by upgrading to a condo, owning a car and employing a maid. These luxuries are just for those (eg bankers) who are high income earners.

We are very lucky to have the very cheap BTO HDB flat system, which allows those who are not high income earners to easily afford a home and retire comfortably.

Reply With Quote
  #10604 (permalink)  
Old 29-10-2016, 03:11 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Lucky last time landed is cheap, my civil engineer parents manage to buy a semi D in District 10. Maybe one day some rich banker will come and buy from us, then again also don't need the money lol
Bankers usually buy GCBs.
Reply With Quote
  #10605 (permalink)  
Old 29-10-2016, 07:42 PM
Unregistered
Guest
 
Posts: n/a
Default

I thought you and your buddy just said bankers can buy condo, engineers can buy subsidies HDB flats cannot buy luxury cars etc (which I prove untrue)

Anyway not that it impacts me, they can buy the whole of Sentosa if they like lol. My family has more than enough space at my current house, but more importantly everyone is happy.

Quote:
Originally Posted by Unregistered View Post
Bankers usually buy GCBs.
Reply With Quote
  #10606 (permalink)  
Old 29-10-2016, 07:44 PM
Senior Member
 
Join Date: May 2012
Posts: 70
Sam Adams is on a distinguished road
Default

Don't be silly lah - bankers buy condos... Entrepreneurs buy GCBs.


Primary School English Grammar and Vocabulary Drills
Primary School English Grammar and Vocabulary Drills


SG Bus Timing App
SG Bus Timing App - the best bus app - available on iOS and Android


Bursa Stocks Android App - check share prices
Bursa Stocks [Android] App - check latest share prices on the go


SGX Stocks Android App - check share prices
SGX Stocks [Android] App - check latest share prices on the go


SGX Stocks for iPad - check latest Singapore share prices
SGX Stocks [iPad] app
| SGX Stocks [iPhone] app
Reply With Quote

  #10607 (permalink)  
Old 29-10-2016, 07:58 PM
Unregistered
Guest
 
Posts: n/a
Default

Most of these jokers don't even know a GCB owner much less been to one but they sure love talking and speculating about who owns them

Quote:
Originally Posted by Sam Adams View Post
Don't be silly lah - bankers buy condos... Entrepreneurs buy GCBs.
Reply With Quote
  #10608 (permalink)  
Old 30-10-2016, 05:03 PM
Unregistered
Guest
 
Posts: n/a
Default

This is what happens to people who quit their jobs young and spent their time looking out of windows. They even fear being caught in a little peak hour traffic jam. I mean what is a few minutes spent in a gridlock when at pay day each month, you are looking at $30k to $40k credited into your bank account?

You can also see that he is so out of touch with many issues and used obsolete data to make comparison and to make a point. A good example was that he said "only top management people can afford condos".

I would have just laughed them off as misinformed and outdated except that the loser was repeating the posts. Mostly by copying and pasting the same posts over and over. To me, that's the manisfestation of a deteriorating mind.

Quote:
Originally Posted by Unregistered View Post
Most of these jokers don't even know a GCB owner much less been to one but they sure love talking and speculating about who owns them
Reply With Quote
  #10609 (permalink)  
Old 30-10-2016, 07:15 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Bankers usually buy GCBs.
That's true. I have never heard of engineers (the salaried worker type) buying GCBs. Only those engineers who are brave enough to start their own company and eventually do well can afford GCBs.

Those salaried type engineers cannot afford GCBs. The most they can afford are cheap condos (below $2m) and cheap landed properties (below $3m). GCBs are definitely beyond their reach (above $10m).
Reply With Quote
  #10610 (permalink)  
Old 30-10-2016, 08:25 PM
Unregistered
Guest
 
Posts: n/a
Default

I'm the engineering parents guy,

I don't think he is out of touch, I think he is jaded from his industry he just looks down on everyone else. I don't post often but I got a bit pissed over the generalization that engineer's don't make enough to retire like bankers do.

We came from a rented Joo Chiat apartment to now so naturally looking down on people ticks me off.

Quote:
Originally Posted by Unregistered View Post
This is what happens to people who quit their jobs young and spent their time looking out of windows. They even fear being caught in a little peak hour traffic jam. I mean what is a few minutes spent in a gridlock when at pay day each month, you are looking at $30k to $40k credited into your bank account?

You can also see that he is so out of touch with many issues and used obsolete data to make comparison and to make a point. A good example was that he said "only top management people can afford condos".

I would have just laughed them off as misinformed and outdated except that the loser was repeating the posts. Mostly by copying and pasting the same posts over and over. To me, that's the manisfestation of a deteriorating mind.
Reply With Quote
Reply

Bookmarks

Tags
bond, bond breaking, income pa, lawyer, saf

« Previous Thread | Next Thread »
Thread Tools

Posting Rules
You may not post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are On
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Industries with Highest Proportion Earning 5-Figure Monthly Income Salary.sg Income and Jobs 25 23-04-2021 10:40 PM
Lawyer earning $25k/mth forged $65k payslip to get job Salary.sg Income and Jobs 2 30-12-2011 02:42 PM

» 30 Recent Threads
Career as Teacher ( 1 2 3... Last Page)
10,834 Replies, 6,666,800 Views
Is getting a PMP worth it ?
4 Replies, 7,110 Views
Q: Big4 - Yearly salary increment ( 1 2 3... Last Page)
15,309 Replies, 4,983,612 Views
Lawyer Salary ( 1 2 3... Last Page)
21,014 Replies, 10,329,648 Views
GovTech ( 1 2 3... Last Page)
5,161 Replies, 2,163,684 Views
MAS for Mid Career Professionals ( 1 2 3... Last Page)
1,801 Replies, 1,044,377 Views
LTA (Land Transport Authority) ( 1 2 3... Last Page)
679 Replies, 388,393 Views
Visa Graduate Development Program ( 1 2 3... Last Page)
207 Replies, 134,628 Views
SIM-UOL fresh grad starting pay ( 1 2 3... Last Page)
6,922 Replies, 2,902,723 Views
UOB Management Associate Program ( 1 2 3... Last Page)
1,455 Replies, 784,464 Views
Nparks ( 1 2 3... Last Page)
39 Replies, 34,382 Views
MINDEF DXO (All FAQ on it) ( 1 2 3... Last Page)
5,828 Replies, 4,656,956 Views
ITE Polytechnic Scheme ( 1 2 3... Last Page)
309 Replies, 369,061 Views
Civil Service Performance Bonus ( 1 2 3... Last Page)
5,338 Replies, 4,770,638 Views
Compare civil service salary ( 1 2 3... Last Page)
16,342 Replies, 12,455,966 Views
Civil Service Current Estimated... ( 1 2 3... Last Page)
169 Replies, 309,158 Views
Constituency Manager (People... ( 1 2 3... Last Page)
989 Replies, 813,956 Views
Julius Baer Graduate Program 2023 ( 1 2 3)
21 Replies, 14,809 Views
Roles in accenture singapore ( 1 2 3... Last Page)
7,385 Replies, 2,324,330 Views
HTX (Home Team Science and... ( 1 2 3... Last Page)
752 Replies, 358,462 Views
Shopee fresh grad pay ( 1 2 3... Last Page)
1,049 Replies, 440,585 Views
DSTA (under Mindef) ( 1 2 3... Last Page)
1,464 Replies, 1,375,248 Views
ST Electronics ( 1 2 3... Last Page)
3,767 Replies, 1,544,931 Views
IMDA (under MCI) ( 1 2 3... Last Page)
1,260 Replies, 613,624 Views
Civil Svc/ Statboard - Typical... ( 1 2 3... Last Page)
6,123 Replies, 3,738,623 Views
MX12 reappointed at MX11
8 Replies, 824 Views
Hospital (Private or Public)... ( 1 2 3... Last Page)
749 Replies, 405,590 Views
NCS (SingTel subsidiary) ( 1 2 3... Last Page)
1,329 Replies, 1,142,329 Views
MFA- Foreign Service... ( 1 2 3... Last Page)
54 Replies, 84,983 Views
Cybersecurity/Info security career ( 1 2 3... Last Page)
511 Replies, 268,615 Views
Powered by vBadvanced CMPS v3.2.2



All times are GMT +8. The time now is 07:21 AM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2024, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.3.2