Is My Salary OK?

[LeMans2011]

As long as you are living comfortably and managing your finances and life well, that should be enough.
No need to compare with anybody. That is typical pap and LKY style.
You notice the questions he asks people:

--- Where do you live?
--- What do your parents do?
--- What are you studying or where are you working?
--- Are you married or single or do you have children?

Would we be a better country and better people if questions like these are asked instead:

--- What are your interests / passions in life?
--- What have you done to help people ouside of your family?
--- What do you regard as your greatest achievement?
--- What do you want to achieve in your life? (and not referring to financial or career achievement)

But if everybody just stay contented, don't compare and don't compete, how then would an economy progress?
I would say, strike a good balance between quality of life and the rat race.
A man must have a mole on his chest

 

[Leongsam]

As long as you are living comfortably and managing your finances and life well, that should be enough.

I have a few questions for you...

--- What are your interests / passions in life?
--- What have you done to help people ouside of your family?
--- What do you regard as your greatest achievement?
--- What do you want to achieve in your life? (and not referring to financial or career achievement)

 

[Leongsam]

But if everybody just stay contented, don't compare and don't compete, how then would an economy progress?

Why is constant progress required. What's wrong with maintaining the status quo?

 

[jw5]

But if everybody just stay contented, don't compare and don't compete, how then would an economy progress?
I would say, strike a good balance between quality of life and the rat race.
A man must have a mole on his chest

A person who thinks seriously about the latter 4 questions and tries to achieve them will be making progress as an individual.
He is also likely to be making contributions to help society and the economy progress as well.
The person who thinks seriously about the first 4 questions is likely to be helping himself and his family (only) to lead more comfortable lives.
Sorry to say this but to think that the latter 4 questions are about "quality of life" or "lacking progress" is typical pap mentality.

As you may have seen a few times in this forum:
"papa is such a good, kind and decent man because he is sooooooooooo good to his family members".

 

[lifeafter41]

your age is about 39. you've been working for 16 years. your cpf account should have about sgd90k. your personal savings should be around sgd40k. you have a car and an outstanding car loan of at least sgd70k. you live in a flat and service a mortgage of about sgd1.3k per month. yet you consider yourself frugal, which you are.

by 40, which is an important milestone in your life, you are not ready to be financially independent. in fact, you are living from paycheck to paycheck. you fear for your future, as anytime after 40, your job is at risk. your employer can replace you with a younger worker at half your pay.

if you don't have at least sgd2m in total assets and zero liability by now, you need to remain employed until 55, and hope nothing major like loss of job, a seriously bad investment or poor health impact you. alternatively, you can try your hand at enterprise at this juncture and aim for a higher return on investment. otherwise, you cannot simply cruise along and expect life to be on a steady trajectory until old age at 65.

you are running out of time.

?.

800k together with wifey, ok or not

if you don't have at least sgd2m in total assets and zero liability by now

 

[Leongsam]

?.

800k together with wifey, ok or not

Work it out for yourself. Plug in the expected yield, your projected monthly expenditure and your life expectancy and see how long it lasts.

There are tons of calculators at http://www.sorted.org.nz

Just leave out the NZ super factor as it isn't applicable anywhere else.

 

[chonburifc]

What's the point of retiring only when you have millions in your bank account? By that time, no handsome liaoz. Retire also no use.

Why not retire early when you can and use the savings for investments? I did not have millions when i decide to retire. And i am enjoying every single day (night) day time zho bo lan at home. Sleep and wake up with whoever you want, whenever you want and wherever you want.

Sinkees think too much. Life too short too think too much.

 

[KNNBPCB]

Thank for u comment
yes I just want to know how i am standing
What to how lian abt?

16 years of experience with a diploma earning $4050 p/mth. This is a jiak sai figure.

 

[chonburifc]

16 years of experience with a diploma earning $4050 p/mth. This is a jiak sai figure.

How about telling us what is not jiak sai figure? Even better, your qualifications, year of experience and salary?

 

[KNNBPCB]

How about telling us what is not jiak sai figure? Even better, your qualifications, year of experience and salary?

I m not paid salary by anyone. I pay myself. Qualification does not matter to me at all. In the finance industry, it only takes a few year for an employee to achieve this figure.

 

[chonburifc]

I m not paid salary by anyone. I pay myself. Qualification does not matter to me at all. In the finance industry, it only takes a few year for an employee to achieve this figure.

You very lucky to be in the right industry.

 

[KNNBPCB]

You very lucky to be in the right industry.

I m not lucky. I took the risk to move out of my comfort zone.

 

[Cestbon]

I graduate from poly in 1994
Start work end 1996 with a starting pay of $1400
my current salary is abt $4050 now
am i doing ok?
am i doing average, below average or very good?

More than $2500 per month is above average. There is a report few week ago in SG 50% salary below $2500.
But $4k will not be rich but will have stable life without car.

 

[alantan27]

I m not paid salary by anyone. I pay myself. Qualification does not matter to me at all. In the finance industry, it only takes a few year for an employee to achieve this figure.

I m from engineering ground
It is alway more difficult in engineering industry

 

[KNNBPCB]

I m from engineering ground
It is alway more difficult in engineering industry

I know. I understand but that's not going to stop others income from outgrowing yours with lesser years of experience. The inflation and cost of living is constant for all.

 

[1sickpuppy II]

Doesn't anyone else think of early retirement rather than merely "surviving"???

In life, you get what you aim for and if you concentrate merely on survival, that's exactly what's going to happen. You'll live your life with your head just above water.

If you want to succeed in life, you have to aim much higher.

Yup thought of that from day 1 when I started working. That is why I am 49 retired with a passive income of 4k and a saving of 700k debt free too.

 

[Fishypie]

What's the point of retiring only when you have millions in your bank account? By that time, no handsome liaoz. Retire also no use.

Why not retire early when you can and use the savings for investments? I did not have millions when i decide to retire. And i am enjoying every single day (night) day time zho bo lan at home. Sleep and wake up with whoever you want, whenever you want and wherever you want.

Sinkees think too much. Life too short too think too much.

Bro, guessed we are both on the same waveLength..eat, drink, and be merry..when's the WorLD end, bo Lang chai..

 

[chonburifc]

I m from engineering ground
It is alway more difficult in engineering industry

Bro, me highest qualifications is 5 credit at o level, and paiseh to say, all 5 subjects add up almost 30. In the past, they call it "La Sap" O level aka dirty O. Only blame myself whole day think of girls and neglected studies.
Cannot qualify for any higher studies so started working until enlisted.

During that time, full of envy for my ex-classmates and friends who got the chance to sian poly girls whereas I can only sian the neighbor hood ah lians or factory girls.

Luckily, in all the jobs I worked, I got good bosses who values performers than qualifications.

Only problem is during promotion time, my name is seldom in the priority list. Even when I got promoted, the HR will recommend such and such increment according to my highest qualification. Can only LL and find other ways.

 

[chonburifc]

Bro, guessed we are both on the same waveLength..eat, drink, and be merry..when's the WorLD end, bo Lang chai..

Hahaha. Many bros here will disagree and I happen to know one personally.

My personal motto which I shared with those who met me is "Every year after 40 is bonus!". I have been collecting bonus for few years liaoz. Tomorrow go also no regret.

 

[Huat-Ah]

I've been "retired" for the last 18 years and never a day has gone by when I have nothing to do. It fact, life has become a lot more hectic.

Now we finally KNOW WHY....Your this forum needs DONATION !!!!!!!!!!!!!!!

$$ Savings getting lesser and lesser...Soon $0 in the bank