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24-10-2019 11:14 PM
Unregistered
Quote:
Originally Posted by anormalguy View Post
Hi everyone,

Feeling a little low concerning my salary so at the risk of sounding stupid, I hope some of the big shot pro's can give advice.

First see, I'm really not a loud, show-off, fast pace guy. I see my life as very relax, just work hard, stay in condo and be contented. So far, my income is very good, but not great. Full disclosure, I'm 32, earning $9.2k base, $11k with bonus / month.

How I'm feeling is that I want two things say before I'm 35: 1. A condo at Tanjong Pagar, 2. A BMW 5 series. However, I still want to be the simple guy that the common man down the street can relate to and lim kopi with. My friends say that to attain what I want, I need to make like $25k / month. But when I see people who get there, it's as though they're all alpha, greedy, ruthless, full of vagularities. That's not me.

My question is this: 1. Did you feel your had to step on people to get to $25k / month? 2. Was reaching $25k / month all it's cracked up to be?

It's funny. When I earned $4k / month, I thought the guy who made $10k / month was the bad guy. Now that I'm there, I'm really not a bad guy at all.

Cheers,
A Normal Guy
Wow! A blast from the past! TS, where are you now? Have you reached your goal of $25k/mth? Does it feel like what you thought it would be? Tell us! Love to hear an update from you.
10-02-2018 10:54 AM
Unregistered
Quote:
Originally Posted by Unregistered View Post
There's no relationship being ruthless or not ruthless and earning a good income.

I'm 36 and have a PA of $550k last year. But that's because I run my own business.

I can be strict and firm with my staff but otherwise I reward and value them well too.

Whatever you believe to be true will become true.
alot of my bosses only interested in profits, and dun bother about quality of the product. When got profit, they meet their KPI and get bonus, and the employee bonus remain the same. But when there is customer complains on the quality issues, they penalize the employee......In this case. they are consider ruthless
10-02-2018 08:52 AM
Unregistered There's no relationship being ruthless or not ruthless and earning a good income.

I'm 36 and have a PA of $550k last year. But that's because I run my own business.

I can be strict and firm with my staff but otherwise I reward and value them well too.

Whatever you believe to be true will become true.
05-01-2018 08:27 AM
vong Different strokes for different folks.

A stranger on the internet is happy for you.

Get rich quick stories make good click bait, but getting rich slowly is tough and admirable. It may not make for a fancy story, but that does not make it any less respectable.
05-01-2018 06:59 AM
Unregistered
Quote:
Originally Posted by Unregistered View Post
Yup I don't get these people. Why suffer for 25 years just to build a portfolio of $2 million? What do you get in the end?
What is the alternative then?

My wife and I "suffered" over 32 years slogging at work and built up a networth close to $7M.

As we are very conservative in investment, we didnt touch our CPF monies and just let it grow. And we were pleasantly surprised when we saw that our combined total interest from our CPF for 2017 was a cool $70k. $40k was from my CPF and $30k from my wife's.

Our investment in only blue chip shares also netted us a dividend income of $53k last year (lower than the year before). We dont do trading, we just held the shares we bought and accumulate whenever we have spare cash.

The rental market has softened, but we were still able to secure a new tenant in 2017 netting us $37k in gross takings.

All in, a total of $160k in passive income for 2017. And this was only possible because we were prepared to "suffer" for years working our lives away. We are very old school, so we didnt know any other way than to "suffer" working to secure a better life for ourselves and our children's future.

We tried buying toto but that didnt work out for us.
05-01-2018 03:11 AM
Unregistered
Quote:
Originally Posted by Unregistered View Post
all these are hypothetical... assuming you are a Singapore Citizen, you would have already be contributing 20% of your salary to CPF. unless you are talking about 60% of NETT wages? Still. provided you are not the only child in the family and your family doesn't need you to take care of them. utilities, telephone bills, groceries, insurance, etc.

provided you are not intending to settle down, not intending to go for some holidays from time to time, some occasional luxury splurges...

continue building the dream portfolio of S$2m.
Yup I don't get these people. Why suffer for 25 years just to build a portfolio of $2 million? What do you get in the end?
04-01-2018 11:03 AM
Unregistered
Quote:
Originally Posted by Unregistered View Post
For those who are curious, I've just did a quick calculation based on this advice.

Assumptions for a moderately-successful Singaporean:
1) Start work @ 25 years old, at 3k/mth with 2 months bonus every year
2) Salary growth @ 3% per year; for years with promotion, growth @ 10%
3) Promotion once every 4 years
4) Save 60% of total salary and invest all of them, at 6% annual gain

Results based on the above calculations:
1) Salary at: 25 (3k/mth), 30 (3.7k/mth), 35 (4.6k/mth), 40 (6.1k/mth), 45 (7.5k/mth), 50 (8.7k/mth)
2) Number of years for gains from investments to exceed salary from job: 24 years, at 48 years old. By this point of time, your annual package is $115k, while total invested amount if $2.1m

And that's saving 60% of total salary.. not many can do that, given housing mortgage, etc..
all these are hypothetical... assuming you are a Singapore Citizen, you would have already be contributing 20% of your salary to CPF. unless you are talking about 60% of NETT wages? Still. provided you are not the only child in the family and your family doesn't need you to take care of them. utilities, telephone bills, groceries, insurance, etc.

provided you are not intending to settle down, not intending to go for some holidays from time to time, some occasional luxury splurges...

continue building the dream portfolio of S$2m.
04-01-2018 10:51 AM
Unregistered
Quote:
Originally Posted by Unregistered View Post
Since you are now so rich, are you planning to buy a GCB?
do you even know how much a GCB costs?
27-11-2017 01:19 AM
Unregistered
Quote:
Originally Posted by iShai View Post
Hello people , I am no rich person but I am in need of financial help. Last week , I met with an accident in a rental car. It was my fault and I damaged a taxi. We had a private settlement of 2.4K for the taxi and 2.6K for the rental car. I have supporting documents for proof.
Total is 5K . The problem is , I just completed my National service and I do not have any income to take a loan.
I have payed 1K for assurance so I am left with 4K.
Any kind soul here , could provide me with 4K upfront , we could agree in a black & white paper that I will pay back the money in a period of 20 Months or LESS with $300 per month Or MORE. (I prioritise my debt if I am accepted in a full-time job.)
Upon signing black & white agreement , you may sue me in court of law IF I do not pay up..

I am desperate dear people. I am in need of help.
If I do not pay up after a certain deadline , my whole future will be gone to waste.

Please help.
You should have no prb finding a kind donor from this thread if their previous convo is true.
What gcb, magic circle, half a million pay package, 9k per mth.
But people here all big cannon. So not to mention $4k, you prob cant even get $400.
26-11-2017 10:07 PM
iShai
I am in desperate need of help.

Hello people , I am no rich person but I am in need of financial help. Last week , I met with an accident in a rental car. It was my fault and I damaged a taxi. We had a private settlement of 2.4K for the taxi and 2.6K for the rental car. I have supporting documents for proof.
Total is 5K . The problem is , I just completed my National service and I do not have any income to take a loan.
I have payed 1K for assurance so I am left with 4K.
Any kind soul here , could provide me with 4K upfront , we could agree in a black & white paper that I will pay back the money in a period of 20 Months or LESS with $300 per month Or MORE. (I prioritise my debt if I am accepted in a full-time job.)
Upon signing black & white agreement , you may sue me in court of law IF I do not pay up..

I am desperate dear people. I am in need of help.
If I do not pay up after a certain deadline , my whole future will be gone to waste.

Please help.
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