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20-06-2013 02:58 PM
Unregistered Your income is 300K and your cash is only 20K. OMG, you're screwed man!

Quote:
Originally Posted by Unregistered View Post
aged 37
Annual Income: SGD 302,400
(age*annual income)/10 = SGD1.119M

MV stocks: SGD 298,200
MV property: SGD 1.8M
Loan on property: SGD 1.3M
Cash: SGD 20k

Net worth: SGD 818,200 < 1.119M

I'm a loser!
24-11-2010 06:01 PM
Unregistered
paijud righteous

Quote:
Originally Posted by Unregistered View Post
With an income of 300k, a cash holding of only 20k seems too little. How does he spend his disposable income?
His loan for property also very high.
24-11-2010 11:01 AM
Unregistered
Quote:
Originally Posted by Unregistered View Post
And a big one too! just kidding, you have not include your CPF, market value of your car, insurance, etc. Those are part of your networth too.
With an income of 300k, a cash holding of only 20k seems too little. How does he spend his disposable income?
24-11-2010 09:43 AM
Unregistered
Quote:
Originally Posted by Unregistered View Post
aged 37
Annual Income: SGD 302,400
(age*annual income)/10 = SGD1.119M

MV stocks: SGD 298,200
MV property: SGD 1.8M
Loan on property: SGD 1.3M
Cash: SGD 20k

Net worth: SGD 818,200 < 1.119M

I'm a loser!
And a big one too! just kidding, you have not include your CPF, market value of your car, insurance, etc. Those are part of your networth too.
24-11-2010 08:21 AM
Unregistered
Quote:
Originally Posted by unregistered View Post
I think I would have to disagree. If you can get a 500 increment a year, 10 years later your income would have increased by 5k, which equates to 65k p.a. , including 13th month. Any bonus you get (especially in high bonus industries) will be based on your monthly salary. I think that will actually help a great deal in your journey.

Of course, I'm assuming you don't spend the increment on additional MBS/RWS trips.
I have a different view on this. focus on the long term and sustainability of your career. Not everyone is cut out to be self employed. so if your pay is low, instead of fighting over that small increment, look at how this job can help move you up the ladder or transfer to another job with a quantum leap in income. I won't quibble over the small increment if you don't lose sight of the big picture.

I was averaging 120k pa in singapore between 30-34. I have 60k savings, one HDB flat and 100k cpf. Nothing to shout about.

I left singapore at the age of 35 and pay went to 220k to 360 pa. I bought another property in beijing and now my net worth is roughly 2million.
24-11-2010 12:46 AM
unregistered
Quote:
Originally Posted by Razor--- View Post
I totally agree with you that fighting for minimal increment for the sake of expanding wealth is silly. Because the fact is you can't get wealthy by getting 300-500 increment every year.
I think I would have to disagree. If you can get a 500 increment a year, 10 years later your income would have increased by 5k, which equates to 65k p.a. , including 13th month. Any bonus you get (especially in high bonus industries) will be based on your monthly salary. I think that will actually help a great deal in your journey.

Of course, I'm assuming you don't spend the increment on additional MBS/RWS trips.
24-11-2010 12:38 AM
tree
networth

Heard from somewhere that your income affords you your _lifestyle_.

In "The M... next door", the author mentioned a surgeon who earns like 700 grand USD a year yet worries whether he can ever retire, as he and his family spend like there's no tomorrow!

Not a PAW myself either... just normal accumulator.
23-11-2010 10:49 PM
Unregistered
Quote:
Originally Posted by Unregistered View Post
aged 37
Annual Income: SGD 302,400
(age*annual income)/10 = SGD1.119M

MV stocks: SGD 298,200
MV property: SGD 1.8M
Loan on property: SGD 1.3M
Cash: SGD 20k

Net worth: SGD 818,200 < 1.119M

I'm a loser!
No loser will make $300K a year. You are just not a PAW (yet).

Save and invest more wisely and you'll be out of the rat race faster than 95% of the population.
26-02-2010 11:38 AM
Unregistered
net worth

aged 37
Annual Income: SGD 302,400
(age*annual income)/10 = SGD1.119M

MV stocks: SGD 298,200
MV property: SGD 1.8M
Loan on property: SGD 1.3M
Cash: SGD 20k

Net worth: SGD 818,200 < 1.119M

I'm a loser!
29-05-2008 10:51 AM
James Brown---
1795

I agree with Razor.

You can't expect REAL wealth from your employer who only employ you to work.

Save/plan/budget/invest your way outside the scope of your job to expand your wealth.

One might be able to afford better luxury items with better income, but WEALTH IS another ballgame altogether.More often than not, wealth IS NOT determined by your monthly income.
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