| 18-10-2014 12:13 AM |
| Unregistered |
Quote:
Originally Posted by Hermit
Quek, when you are in your 40s, it is the beginning of the end. At least it is for many of my classmates and friends, unless you are in a profession. But 40s is also the best age to venture into business, investments (if you have savings) etc. : )
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Hi Hermit, what the things that your friends do to counter the "beginning of the end"?
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| 17-10-2014 04:24 PM |
| Unregistered |
Quote:
Originally Posted by Unregistered
Hi, thanks for sharing the advice regarding 5 good years. May I know your personal definition of a "good year"?
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I managed to save $ 1 million in the 5 years from salary, bonus. That's my 5 good years. It could differ from how others define it. But that $ 1 million is good enough for me.
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| 17-10-2014 03:09 PM |
| Hermit |
Quek, when you are in your 40s, it is the beginning of the end. At least it is for many of my classmates and friends, unless you are in a profession. But 40s is also the best age to venture into business, investments (if you have savings) etc. : )
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| 17-10-2014 10:18 AM |
| quek |
I do not know if my 5 good years will ever come, or have they already gone past me unceremoniously and insignificantly?
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| 16-10-2014 03:00 PM |
| Unregistered |
Quote:
Originally Posted by Unregistered
I am in my early 40s. I have been in a job that does not know what the future is like. But I stick with it for 10 years and make the most of it. I once read somewhere that as long as someone have 5 good years, he or she will be quite comfortable. I did just that and endure all the uncertainty, politics, etc. just to get my paycheck and bonus. 5 years gone by and I have accumulated a hefty sum that set my mind in a more peaceful state.
I think I can carry on for another 5 years to build up my safety net, that is if politics and changes do not push me out.
I guess when you reach late 30s, have to start to see how you can have 5 golden years. That's my take.
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Hi, thanks for sharing the advice regarding 5 good years. May I know your personal definition of a "good year"?
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| 16-10-2014 02:16 PM |
| Unregistered |
Quote:
Originally Posted by quek
Thanks for all the responses. I like the "make hay while the sun shines" advice.
I work in an MNC with a small presence in Asia. Before age caught up with me, I used to think that the sky is the limit and that my salary would keep increasing year after year.
However, the reality is -- as I alluded to earlier -- not everyone can keep climbing upwards. Everyone has a different summit and there are only so many SVPs and CEOs, and all the rest of us will just be playing minor supporting roles.
Age, health, family and office politics will increasingly affect one's ability to work and make money. The older you are, the more dispensable you become.
Finally, to be brutally honest, "skills" are HUGELY overrated, including mine. I look around me and all I see are people, including myself, who just push papers and attend meetings day in day out. Any fresh grad with general intelligence and average speaking skills can easily replace people like me after working 2-3 years.
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I am in my early 40s. I have been in a job that does not know what the future is like. But I stick with it for 10 years and make the most of it. I once read somewhere that as long as someone have 5 good years, he or she will be quite comfortable. I did just that and endure all the uncertainty, politics, etc. just to get my paycheck and bonus. 5 years gone by and I have accumulated a hefty sum that set my mind in a more peaceful state.
I think I can carry on for another 5 years to build up my safety net, that is if politics and changes do not push me out.
I guess when you reach late 30s, have to start to see how you can have 5 golden years. That's my take.
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| 16-10-2014 11:07 AM |
| Unregistered |
Quote:
Originally Posted by quek
Thanks for all the responses. I like the "make hay while the sun shines" advice.
I work in an MNC with a small presence in Asia. Before age caught up with me, I used to think that the sky is the limit and that my salary would keep increasing year after year.
However, the reality is -- as I alluded to earlier -- not everyone can keep climbing upwards. Everyone has a different summit and there are only so many SVPs and CEOs, and all the rest of us will just be playing minor supporting roles.
Age, health, family and office politics will increasingly affect one's ability to work and make money. The older you are, the more dispensable you become.
Finally, to be brutally honest, "skills" are HUGELY overrated, including mine. I look around me and all I see are people, including myself, who just push papers and attend meetings day in day out. Any fresh grad with general intelligence and average speaking skills can easily replace people like me after working 2-3 years.
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I can identify with the skills are hugely overrated remark. I write a lot of papers and do a lot of coordination. Over the years, my salary has increased and I suppose I have gotten better at what I do, but I suspect not that much better to justify the increase in salary. Looking around me, I think the same can be said of my colleagues. A lot of the work can probably be done by people who are paid less.
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| 16-10-2014 10:55 AM |
| Unregistered |
As risk of retrenchments are higher in yr 40s and 50s, one should invest for passive income if able to when younger.
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| 16-10-2014 10:30 AM |
| quek |
Thanks for all the responses. I like the "make hay while the sun shines" advice.
I work in an MNC with a small presence in Asia. Before age caught up with me, I used to think that the sky is the limit and that my salary would keep increasing year after year.
However, the reality is -- as I alluded to earlier -- not everyone can keep climbing upwards. Everyone has a different summit and there are only so many SVPs and CEOs, and all the rest of us will just be playing minor supporting roles.
Age, health, family and office politics will increasingly affect one's ability to work and make money. The older you are, the more dispensable you become.
Finally, to be brutally honest, "skills" are HUGELY overrated, including mine. I look around me and all I see are people, including myself, who just push papers and attend meetings day in day out. Any fresh grad with general intelligence and average speaking skills can easily replace people like me after working 2-3 years.
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| 15-10-2014 06:37 PM |
| Unregistered |
Quote:
Originally Posted by quek
I'll be hitting the big 4-O very soon. As I'm just a middle manager, I think I may have already hit a plateau in my career.
I have some questions which I constantly worry about:
1. Is it much harder to switch jobs in your 40s-50s? What do the older people usually do if they are unhappy with their current job and/or the company situation becomes unfavourable?
2. Will the salary hit a certain level and stay there? My older friends seem to suggest that salaries will hit a plateau, e.g. salary hits 10k and stays at 10k till retirement / retrenchment. Is this true for the companies you know?
3. This question may seem silly, but I don't see many old people in my company. Do you observe this in your company? Where do the older people go? I constantly wonder what will happen to me when I get older.
Appreciate your advice and sharing.
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I am 41 this year. I have learnt to adopt the 'I don't know what will happen tomorrow' mentality. Thus, I try and make sure I don't spend every last cent, and have some money invested. That way, if I am retrenched, or if I get fed up and want to leave, I won't be in a pickle.
It doesn't matter if your pay plateaus. The same principle should remain. Make hay while the sun shines, but make sure you store some of that hay for when the sun doesn't.
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