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02-10-2011, 12:34 AM
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Employees.
Hi,
Age: Early-Mid 30s; Employees
Annual income for me and wife: ~S$250,000
Valued Property: S$550,000 (Fully Paid)
CPF : Greater than half of the prevailing Minimum Sum [Each]
Car: Fully paid
Cash: Accumulating - while waiting right time to invest in shares & properties.
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02-10-2011, 03:17 AM
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Quote:
Originally Posted by Unregistered
Hi,
Age: Early-Mid 30s; Employees
Annual income for me and wife: ~S$250,000
Valued Property: S$550,000 (Fully Paid)
CPF : Greater than half of the prevailing Minimum Sum [Each]
Car: Fully paid
Cash: Accumulating - while waiting right time to invest in shares & properties. |
Nice. Must have at least $1m in cash by now?
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11-10-2011, 10:55 PM
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Millionaire Member
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Join Date: Jul 2010
Posts: 49
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Quote:
Originally Posted by Unregistered
wow.. i feel like a loser here after seeing what other people have achieved.. unforeseen circumstances led me to start work only at the age of 27.. im 28 now.
monthly income 3k+
cash about 20k+
stocks abt 5k
just bought a hdb at 300k+.. (nothing paid yet)
me and wife to be combined just reached over the 5k mark..
how do i carry on from here? The thought of working till death just to survive in singapore scares me.. |
My dear friend, dont worry, you are the only honest chap here, alot of the clowns here are bull-shitters....grossly inflating their wealth to make themselves appear good.....silly losers
I make 200k a year, am in my mid 30s, am still servicing my housing loan of 400k plus. I have cash balances of around 250k, but if I were to pay up my housing loan fully now, I would have no more cash left.
The point here is I did not make 200k annually right from day 1 of working, but only achieved this level nearer to mid 30s, so there is no way I can have the kind of cash balances that the folks here brag about, yet they are saying they make 200k a year income. (unless they are super high-flyers and drawing 6 figure annual salaries right from day 1 of work???)
You do the math, this is not rocket science, these guys are talking rubbish and blowing their own trumpet.....
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11-10-2011, 10:58 PM
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Quote:
Originally Posted by Unregistered
wow.. i feel like a loser here after seeing what other people have achieved.. unforeseen circumstances led me to start work only at the age of 27.. im 28 now.
monthly income 3k+
cash about 20k+
stocks abt 5k
just bought a hdb at 300k+.. (nothing paid yet)
me and wife to be combined just reached over the 5k mark..
how do i carry on from here? The thought of working till death just to survive in singapore scares me.. |
Cheer up bro...
I am in the same boat as you...
And I am the SOLE BREADWINNER as my aged parents are retired and I am the only child..
Their savings dried up, but they manage to put me through university..
But a degree nowadays is so common and pay is being depressed significantly by FT..
Haizzzz..
I am also trying to survive amid super inflation and starting a family...
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11-10-2011, 11:14 PM
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Millionaire Member
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Join Date: Jul 2010
Posts: 49
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Quote:
Originally Posted by Unregistered
Cheer up bro...
I am in the same boat as you...
And I am the SOLE BREADWINNER as my aged parents are retired and I am the only child..
Their savings dried up, but they manage to put me through university..
But a degree nowadays is so common and pay is being depressed significantly by FT..
Haizzzz..
I am also trying to survive amid super inflation and starting a family...
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You would certainly want to place the blame on the clowns here in this forum, I recalled some saying they flip properties multiple times to acheive their "fat" cash balances, they are responsible for the super inflated housing prices we are seeing now
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11-10-2011, 11:19 PM
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Quote:
Originally Posted by Wiseman1
My dear friend, dont worry, you are the only honest chap here, alot of the clowns here are bull-shitters....grossly inflating their wealth to make themselves appear good.....silly losers
I make 200k a year, am in my mid 30s, am still servicing my housing loan of 400k plus. I have cash balances of around 250k, but if I were to pay up my housing loan fully now, I would have no more cash left.
The point here is I did not make 200k annually right from day 1 of working, but only achieved this level nearer to mid 30s, so there is no way I can have the kind of cash balances that the folks here brag about, yet they are saying they make 200k a year income. (unless they are super high-flyers and drawing 6 figure annual salaries right from day 1 of work???)
You do the math, this is not rocket science, these guys are talking rubbish and blowing their own trumpet.....
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Actually some of these people may be "old money" - parents "help" them by paying cash for their house and car. so they may be actually stating the truth, just not how they accumulated so much assets.
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11-10-2011, 11:46 PM
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Quote:
Originally Posted by Wiseman1
My dear friend, dont worry, you are the only honest chap here, alot of the clowns here are bull-shitters....grossly inflating their wealth to make themselves appear good.....silly losers
I make 200k a year, am in my mid 30s, am still servicing my housing loan of 400k plus. I have cash balances of around 250k, but if I were to pay up my housing loan fully now, I would have no more cash left.
The point here is I did not make 200k annually right from day 1 of working, but only achieved this level nearer to mid 30s, so there is no way I can have the kind of cash balances that the folks here brag about, yet they are saying they make 200k a year income. (unless they are super high-flyers and drawing 6 figure annual salaries right from day 1 of work???)
You do the math, this is not rocket science, these guys are talking rubbish and blowing their own trumpet.....
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if you maintain the level of 200k income, in 5 years you would have earned 1m in income. spend half of it (100k expenditure per year is a lot by my standard), and you'll still have 500k before 40 years old. invest at 10% return, that's another 100k.
i know someone will then counter with the inflation argument and price of rice from thailand and so on, but inflation affects everyone. so in terms of wealth, you're still 600k better off than most people who don't save.
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12-10-2011, 12:33 AM
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Quote:
Originally Posted by Wiseman1
My dear friend, dont worry, you are the only honest chap here, alot of the clowns here are bull-shitters....grossly inflating their wealth to make themselves appear good.....silly losers
I make 200k a year, am in my mid 30s, am still servicing my housing loan of 400k plus. I have cash balances of around 250k, but if I were to pay up my housing loan fully now, I would have no more cash left.
The point here is I did not make 200k annually right from day 1 of working, but only achieved this level nearer to mid 30s, so there is no way I can have the kind of cash balances that the folks here brag about, yet they are saying they make 200k a year income. (unless they are super high-flyers and drawing 6 figure annual salaries right from day 1 of work???)
You do the math, this is not rocket science, these guys are talking rubbish and blowing their own trumpet.....
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Quote:
Originally Posted by Unregistered
Cheer up bro...
I am in the same boat as you...
And I am the SOLE BREADWINNER as my aged parents are retired and I am the only child..
Their savings dried up, but they manage to put me through university..
But a degree nowadays is so common and pay is being depressed significantly by FT..
Haizzzz..
I am also trying to survive amid super inflation and starting a family...
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Whether the people here are being truthful in their incomes i don't know, i take that with a pinch of salt. But i can't deny i feel useless and wonder when on earth will i be able to attain such success or just be able to at least provide for my family and parents comfortably. Just into 1 year of work and i am starting to feel the strain.
Right now nothing will happen if i just wonder. For anybody just like me, i guess right now the only way is to be prudent in spending and save up for investments in future. Just be contented so I won't feel bitter all the time =P
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12-10-2011, 09:32 AM
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Millionaire Member
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Join Date: Jul 2010
Posts: 49
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Quote:
Originally Posted by Unregistered
if you maintain the level of 200k income, in 5 years you would have earned 1m in income. spend half of it (100k expenditure per year is a lot by my standard), and you'll still have 500k before 40 years old. invest at 10% return, that's another 100k.
i know someone will then counter with the inflation argument and price of rice from thailand and so on, but inflation affects everyone. so in terms of wealth, you're still 600k better off than most people who don't save.
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Hahaha, you are being really naive, this is Singapore, a land of ever rising prices, do you really think you can save up to 50% of your incomes???
If you drive and own private property, there is no way you can save 50% of your income. And people expect you to drive nice cars and upgrade houses all the time in this silly land
Again, those folks here, they say their cars and houses are fully paid up before they turn 40 and yet still have 0.5 million to 1 million in cash balances, bloody bull-shitters......dont include parents' monies...this is substandard
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