How much are you earning per annum? - Page 1083 - 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
  #10821 (permalink)  
Old 11-02-2017, 10:52 PM
Unregistered
Guest
 
Posts: n/a
Default

We are both mid 40s with 2 teenage kids
Annual income $350k with Dividend&Interest income $50k pa
Stay in a OCR condo worth $1.5mil paid up
Owns a luxury car 1 yo worth $200k paid up
Cash and CPF balance about $2mil
How are we doing? Can we both afford to retire?

Reply With Quote
  #10822 (permalink)  
Old 12-02-2017, 08:02 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
We are both mid 40s with 2 teenage kids
Annual income $350k with Dividend&Interest income $50k pa
Stay in a OCR condo worth $1.5mil paid up
Owns a luxury car 1 yo worth $200k paid up
Cash and CPF balance about $2mil
How are we doing? Can we both afford to retire?
Yes, you can retire now. Sell your condo for $1.5m and then buy a 5 room HDB flat for $500k. Invest the $1m cash balance to give you a 5% dividend yield. So you get $50k pa in additional dividends. Your annual passive income will be $100k pa. This is sufficient for a family of four if you spend properly.

Reply With Quote
  #10823 (permalink)  
Old 12-02-2017, 07:30 PM
Unregistered
Guest
 
Posts: n/a
Default

You are a successful couple. To own a car and a condo is a big achievement in Singapore. You should be among the top 5% in Singapore.


Quote:
Originally Posted by Unregistered View Post
Dual income household with two children. Annual combined income is about $200k. We are staying in a 3 bedroom luxury condominium unit. Our condo has a large swimming pool, a gymnasium, a tennis court and beautiful landscaping. We are very fortunate to be able to afford such a luxurious home.

We are left with only $178k on our mortgage loan. We pay $1k pm or $12k pa for our mortgage. This is a MSR of only 6%. Actually we can pay off our remaining mortgage in full using our CPF balance if we want to but since our CPF interest rate is giving 2.5% and our mortgage rate is less than 2.5%, it doesn't make sense for us to pay off in full. If mortgage rates rise above 2.5%, we will just pay off our remaining mortgage in full.

We lead a middle class lifestyle. We do own a nice car which allows us to move around in comfort. We enjoy good food at restaurants at least once a week. Family bonding is important to us, hence we invest in year end holidays where we get to be closer as a family. Our holidays are full of sweet, happy memories.

To prepare for our retirement, we save about $35k pa in cash. We also build up our CPF savings for our future. We aim to retire in ten years time when we reach 57. We should have enough cash savings and CPF Life for us to spend during our retirement. We will need about $36k pa during our retirement. We will have enough cash savings to take care of inflation.

Our retirement expenses will include food and groceries, public transport fees, utilities, medical fees, insurance, broadband, mobile phone, entertainment, holidays, condo fees, etc.

Reply With Quote
  #10824 (permalink)  
Old 13-02-2017, 09:58 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Rather than asking how you're doing financially, no one ever asks how he can contribute to the less well-off, the needy, the sick and still live comfortably?

I guess we are that society now
Cannot survive on my own still wanna care about others?
Reply With Quote
  #10825 (permalink)  
Old 13-02-2017, 02:34 PM
Unregistered
Guest
 
Posts: n/a
Default

Middle class couple
My earnings $176k pa (47 yo)
Wife's earnings $160k pa (45 yo)
Annual savings $210k pa
Home, mortgage outstanding $130k
Car, loan outstanding $40k
Cash & CPF, total $750k
Net worth, total $3.1m
How are we doing?
When can we retire?
Reply With Quote
  #10826 (permalink)  
Old 13-02-2017, 02:39 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Middle class couple
My earnings $176k pa (47 yo)
Wife's earnings $160k pa (45 yo)
Annual savings $210k pa
Home, mortgage outstanding $130k
Car, loan outstanding $40k
Cash & CPF, total $750k
Net worth, total $3.1m
How are we doing?
When can we retire?
You can retire now. Assuming you can use $500k from your cash and CPF to pay for a HDB flat. You can sell your condo and buy a HDB flat. You will then have $2.6 mil to invest in a 5% dividend portfolio giving you $130k pa. This passive income is enough for your family of four.
Reply With Quote

  #10827 (permalink)  
Old 16-02-2017, 12:29 AM
Unregistered
Guest
 
Posts: n/a
Default

Couple, 53 & 50.
Home - 2 BR condo worth $900k, paid up.
Car - paid up.
Combined cash & CPF - $500k.
Combined net worth (excluding car) - $1.4m.
Combined income - $160k pa.
Combined cash savings - $25k pa.
How are we doing?
If you're in our age group, please share your situation.
When and how can we retire?
Reply With Quote
  #10828 (permalink)  
Old 16-02-2017, 10:30 AM
Unregistered
Guest
 
Posts: n/a
Default

What is the difference between "Combined cash & CPF - $500k." and "Combined cash savings - $25k pa."?

Does that mean your combined cash is $25K and CPF is $475K?

If above is correct, you need to continue to work as long as you can, until official retirement age. By continuous working, you would enjoy medical benefit, grow your CPF further, not touching your saving for regular expenses and save more since the car and condo are paid up.

Meanwhile, look into how to invest your cash saving so you could have safe passive income when you retire.



Quote:
Originally Posted by Unregistered View Post
Couple, 53 & 50.
Home - 2 BR condo worth $900k, paid up.
Car - paid up.
Combined cash & CPF - $500k.
Combined net worth (excluding car) - $1.4m.
Combined income - $160k pa.
Combined cash savings - $25k pa.
How are we doing?
If you're in our age group, please share your situation.
When and how can we retire?
Reply With Quote
  #10829 (permalink)  
Old 16-02-2017, 11:33 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
What is the difference between "Combined cash & CPF - $500k." and "Combined cash savings - $25k pa."?

Does that mean your combined cash is $25K and CPF is $475K?

If above is correct, you need to continue to work as long as you can, until official retirement age. By continuous working, you would enjoy medical benefit, grow your CPF further, not touching your saving for regular expenses and save more since the car and condo are paid up.

Meanwhile, look into how to invest your cash saving so you could have safe passive income when you retire.
It is annual cash savings of $25k


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
  #10830 (permalink)  
Old 16-02-2017, 02:02 PM
Unregistered
Guest
 
Posts: n/a
Default

39, earning 185k pa.

Not asking for any opinion, just sharing.
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
MAS for Mid Career Professionals ( 1 2 3... Last Page)
1,801 Replies, 1,043,823 Views
Q: Big4 - Yearly salary increment ( 1 2 3... Last Page)
15,308 Replies, 4,982,880 Views
Career as Teacher ( 1 2 3... Last Page)
10,830 Replies, 6,665,225 Views
LTA (Land Transport Authority) ( 1 2 3... Last Page)
679 Replies, 388,234 Views
GovTech ( 1 2 3... Last Page)
5,160 Replies, 2,163,336 Views
Visa Graduate Development Program ( 1 2 3... Last Page)
207 Replies, 134,550 Views
SIM-UOL fresh grad starting pay ( 1 2 3... Last Page)
6,922 Replies, 2,902,541 Views
UOB Management Associate Program ( 1 2 3... Last Page)
1,455 Replies, 784,368 Views
Nparks ( 1 2 3... Last Page)
39 Replies, 34,362 Views
MINDEF DXO (All FAQ on it) ( 1 2 3... Last Page)
5,828 Replies, 4,656,630 Views
ITE Polytechnic Scheme ( 1 2 3... Last Page)
309 Replies, 368,991 Views
Civil Service Performance Bonus ( 1 2 3... Last Page)
5,338 Replies, 4,769,866 Views
Compare civil service salary ( 1 2 3... Last Page)
16,342 Replies, 12,454,684 Views
Civil Service Current Estimated... ( 1 2 3... Last Page)
169 Replies, 309,074 Views
Constituency Manager (People... ( 1 2 3... Last Page)
989 Replies, 813,869 Views
Julius Baer Graduate Program 2023 ( 1 2 3)
21 Replies, 14,794 Views
Roles in accenture singapore ( 1 2 3... Last Page)
7,385 Replies, 2,323,913 Views
Lawyer Salary ( 1 2 3... Last Page)
21,013 Replies, 10,328,826 Views
HTX (Home Team Science and... ( 1 2 3... Last Page)
752 Replies, 358,309 Views
Shopee fresh grad pay ( 1 2 3... Last Page)
1,049 Replies, 440,525 Views
DSTA (under Mindef) ( 1 2 3... Last Page)
1,464 Replies, 1,375,153 Views
ST Electronics ( 1 2 3... Last Page)
3,767 Replies, 1,544,423 Views
IMDA (under MCI) ( 1 2 3... Last Page)
1,260 Replies, 613,497 Views
Civil Svc/ Statboard - Typical... ( 1 2 3... Last Page)
6,123 Replies, 3,738,403 Views
MX12 reappointed at MX11
8 Replies, 802 Views
Hospital (Private or Public)... ( 1 2 3... Last Page)
749 Replies, 405,474 Views
NCS (SingTel subsidiary) ( 1 2 3... Last Page)
1,329 Replies, 1,142,038 Views
MFA- Foreign Service... ( 1 2 3... Last Page)
54 Replies, 84,951 Views
Cybersecurity/Info security career ( 1 2 3... Last Page)
511 Replies, 268,536 Views
Singapore Airlines ( 1 2 3)
22 Replies, 11,274 Views
Powered by vBadvanced CMPS v3.2.2



All times are GMT +8. The time now is 12:58 AM.


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