Whats your net worth

Originally Posted by Unregistered

Are you a high income earner?

No, i'm a taxi driver... I drive 25hours a day without any sleep, eating food and drinking water.. Thus i don't have to visit the toilet also.. Which is a win-win situation!! Thks to the recent fee hike for passengers and the constant train breakdowns.. I can earn even more now and will very soon be able to afford my second property!! Yeah!!

[Hermit]

Originally Posted by yoland

430k cash
1.2m unit trust
800+k stocks
close to 300g total in gold

HDB flat fully paid
37 yrs old

yoland, time to increase your holding in gold. prices pretty low.

What a fastidious YouTube video it is! Awesome, I loved it, and I am sharing this YouTube video with all my colleagues.

I an 50 years old. Have been working in the financial services industry for the last 20 years. As I have not moved between companies, my salary remained quite stagnant for many years. The past 10 years have not been easy for the financial industry, with the so many crises we had to go through. 2001 dot com bubble burst, 2003 SARS, 2008 crisis and now the european debt crisis. Every time i am offered a new postion in a new company, my wife always said that i should not move as my current employer has been treating me well (except the pay) and i enjoy the respect of colleagues, yound and old. Now after 20 years, I realised (by reading this forum) that I am veru much underpaid. Some youngsters here earn $300K easily in the financial services industry and these are inexperienced, "know just how to talk" kids.

Now I am really wondering whether it is worthwhile to continue working and earning just $120K per annum or perhaps I will be better off changing a new career, maybe as a real estate agent who earns $300K per annum easily. I have lots of contacts, rich people who were my bosses. These people can buy property like buying chocolates.

What should I do? What are my risks? Will I end up being a tax driver?

My net worth is only $1 million (property, cash, gold and stocks).

Please advice.

Originally Posted by am i doing ok?

I an 50 years old. Have been working in the financial services industry for the last 20 years. As I have not moved between companies, my salary remained quite stagnant for many years. The past 10 years have not been easy for the financial industry, with the so many crises we had to go through. 2001 dot com bubble burst, 2003 SARS, 2008 crisis and now the european debt crisis. Every time i am offered a new postion in a new company, my wife always said that i should not move as my current employer has been treating me well (except the pay) and i enjoy the respect of colleagues, yound and old. Now after 20 years, I realised (by reading this forum) that I am veru much underpaid. Some youngsters here earn $300K easily in the financial services industry and these are inexperienced, "know just how to talk" kids.

Now I am really wondering whether it is worthwhile to continue working and earning just $120K per annum or perhaps I will be better off changing a new career, maybe as a real estate agent who earns $300K per annum easily. I have lots of contacts, rich people who were my bosses. These people can buy property like buying chocolates.

What should I do? What are my risks? Will I end up being a tax driver?

My net worth is only $1 million (property, cash, gold and stocks).

Please advice.

Uncle you also quite joker, you should be spending your wealth now and taking it easy in semi-retirement, why you talk like want to compete with youngsters for the next promotion?

You missed your chance earlier to make big money and now is too late to go back and slug out with the youngster, just be content and retire in peace.

[Hermit]

Originally Posted by am i doing ok?

I an 50 years old. Have been working in the financial services industry for the last 20 years. As I have not moved between companies, my salary remained quite stagnant for many years. The past 10 years have not been easy for the financial industry, with the so many crises we had to go through. 2001 dot com bubble burst, 2003 SARS, 2008 crisis and now the european debt crisis. Every time i am offered a new postion in a new company, my wife always said that i should not move as my current employer has been treating me well (except the pay) and i enjoy the respect of colleagues, yound and old. Now after 20 years, I realised (by reading this forum) that I am veru much underpaid. Some youngsters here earn $300K easily in the financial services industry and these are inexperienced, "know just how to talk" kids.

Now I am really wondering whether it is worthwhile to continue working and earning just $120K per annum or perhaps I will be better off changing a new career, maybe as a real estate agent who earns $300K per annum easily. I have lots of contacts, rich people who were my bosses. These people can buy property like buying chocolates.

What should I do? What are my risks? Will I end up being a tax driver?

My net worth is only $1 million (property, cash, gold and stocks).

Please advice.

Sure you are doing ok, as long as you are not comparing. I am not sure you can suddenly switch after staying in one company for long. At 50, you have probably grown very used to your employer's corporate culture and the respect you get is satisfying. So you may struggle to find another place to get that kind of standing even if you are paid somewhat more. Real estate is very crowded. Are you sure you can be as aggressive/energetic/thick-skinned/scheming as the top players? In the end, you also need to make sure your wife is not unhappy so I think you might as well cruise on in your current place. If your net worth monetarily is only 1M, then so be it. Life is more than that. All the best!

Uncle, you have "survived" through many ups and downs and now that the financial services industry is going through a cycle of hardship, count yourself lucky and fingers crossed that you'd continue keeping your job. I don't know which employer is yours but it seems like a local house. I am one of those "youngsters" that you've described below. Although I don't make S$300k easily but I have the following to share:

At 50 years old in financial services you are only earning S$120k p/a ? Do you consider yourself a performer? If yes, why are you only being paid S$120k? Are you at least SVP / Director level because surely there is a payscale band. If you are not performing, could it be your company is just keeping you for "old times sake?"? Would you say your contribution to the company (now, not accumulated) on account of your 25+ years of working experience exceed those of those youngsters who can only show & talk? Would you say that you are working as hard as them?

Which line in financial services are you in? Investment banking? Private wealth mgmt? Corporate banking? Retail? Are you in back-office or front office. You are comparing to youngsters who make S$300k pa easily, are you comparing to investment bankers? Are you comparing apple to apple?

"I will be better off changing a new career, maybe as a real estate agent who earns $300K per annum easily. I have lots of contacts, rich people who were my bosses. These people can buy property like buying chocolates."

Is the S$300k p/a the norm or rather the exception? What is the average package of an average housing agent? Are you sure that you'd be a top performer the moment you enter RE line without any background? Are you sure that your contacts will support you? Rich people are not often generous people. Most of the rich people I know are shrewd with their money. Want to earn money from them is very difficult. Besides, they may seem really friendly now but when you switch line and start approaching them, situation may change.

I think at 50, you should be contented with what you have. S$120k PA is a decent and comfortable income. By 50 haven't you realised that the key to happiness is to learn to be self contented?

Originally Posted by am i doing ok?

I an 50 years old. Have been working in the financial services industry for the last 20 years. As I have not moved between companies, my salary remained quite stagnant for many years. The past 10 years have not been easy for the financial industry, with the so many crises we had to go through. 2001 dot com bubble burst, 2003 SARS, 2008 crisis and now the european debt crisis. Every time i am offered a new postion in a new company, my wife always said that i should not move as my current employer has been treating me well (except the pay) and i enjoy the respect of colleagues, yound and old. Now after 20 years, I realised (by reading this forum) that I am veru much underpaid. Some youngsters here earn $300K easily in the financial services industry and these are inexperienced, "know just how to talk" kids.

Now I am really wondering whether it is worthwhile to continue working and earning just $120K per annum or perhaps I will be better off changing a new career, maybe as a real estate agent who earns $300K per annum easily. I have lots of contacts, rich people who were my bosses. These people can buy property like buying chocolates.

What should I do? What are my risks? Will I end up being a tax driver?

My net worth is only $1 million (property, cash, gold and stocks).

Please advice.

47 yrs old

Property 1.5MM
Cash 700k
CPF 500k

Loan 800k

Originally Posted by Unregistered

47 yrs old

Property 1.5MM
Cash 700k
CPF 500k

Loan 800k

41 yrs old couple

Property 1 MM paid up
accumulating Cash 400k, CPF 100k

hope to get a 2nd property...

Originally Posted by Unregistered

41 yrs old couple

Property 1 MM paid up
accumulating Cash 400k, CPF 100k

hope to get a 2nd property...

These are the most reasonable numbers I've seen. Most graduate couples should be able to attain this level of wealth, and should rightfully aspire to do so.

My wife and I, graduate couple, has 1.4mio in wealth. But our income is quite high at 250k+++ (low in the eyes of ministers and top 1000 earners of course).