Meanmachine 6th Gear June 21, 2021 Share June 21, 2021 Minus the rich and famous citizens, while i applaud some of them by giving out and performing charity w/o mentioning names and such, who is in the right frame of mind is making more money, the main reason/s maybe many of our young shoppers have turned to e-commerce shopping, almost daily i can see deliveries to my neighbours house receiving their goods and such, while it is impertinent not to go our shopping, most have more or less took the road less travelled . Yes many of us are staying and working from home, sending more time cooking meals, using more electricity , data plans & water. Who is not wanting to earn more cut down expenses and in financial issue/s, many has loan and mortgages to pay monthly. ↡ Advertisement Link to post Share on other sites More sharing options...
Windwaver Turbocharged June 21, 2021 Share June 21, 2021 19 hours ago, Throttle2 said: Bro, $8k is high income? then $80k is 神? I used HDB's income celling as a gauge for high income, husband and wife both $8K can be counted as high income. I had the chance to become RM but turned it down because not my cup of tea. Anyway, I very far away from high earner, I'm an honest earner Link to post Share on other sites More sharing options...
Windwaver Turbocharged June 21, 2021 Share June 21, 2021 4 hours ago, Spidey10 said: ...scary word …….this retrenchment...i kena once 8 yrs back, for the 1st - 2 yrs, was a struggle and adjusting to life as a grab, delivery boy, store keeper...so much to adjust...cut down all the cost and signed up with the workforce agency as well (this workforce agency is a waste of time....but that itself is another life story of mine). Anyway, preserve and found a co that value my knowledge and expertise...and the rest they say is history...….lucky i listen to the wisdom word of my papa.....live within yr means and dun owe pple money, settle all yr debt as soon as possible and you can sleep peacefully...…. Your dad and my parents are very wise people and luckily I took their advice too Link to post Share on other sites More sharing options...
Bacteria83 Turbocharged June 21, 2021 Share June 21, 2021 money is just a resources that allow you to experience most things in life, if you over stretch/leverage yourself most likely will experience misery. Is ok to own or want to have good things in life just play within your limit, high income with high amount of debts is no fun. Over Prudent and save up everything is pointless as well. 3 Link to post Share on other sites More sharing options...
Throttle2 Supersonic June 21, 2021 Share June 21, 2021 (edited) 1 hour ago, Windwaver said: I used HDB's income celling as a gauge for high income, husband and wife both $8K can be counted as high income. I had the chance to become RM but turned it down because not my cup of tea. Anyway, I very far away from high earner, I'm an honest earner Well i can straight tell you in the face, bro. $8kpm is NOT high income. why ? Becos $8k per month cant allow you to enjoy the things that high income earners enjoy. of course some smart ass is gonna say, “ its all relative, whats high to him is not high to you , blah blah blah” but seriously if $8k is high, what is $80k , 神 ah?🤣😂 Edited June 21, 2021 by Throttle2 1 Link to post Share on other sites More sharing options...
Weez911 Supersonic June 21, 2021 Share June 21, 2021 Investing all my money with St James Place now! https://www.sjp.asia/what-we-do/retirement "Calculating how big your retirement fund needs to be is relatively simple. Take into account all your likely living costs to estimate how much annual income you think you would need from 65 onwards. Allow for inflation and then multiply the figure by 25. This give you an estimate of your ‘magic number’; the retirement fund you will need to provide the income you require." 1 Link to post Share on other sites More sharing options...
Throttle2 Supersonic June 21, 2021 Share June 21, 2021 (edited) 14 minutes ago, Weez911 said: Investing all my money with St James Place now! https://www.sjp.asia/what-we-do/retirement "Calculating how big your retirement fund needs to be is relatively simple. Take into account all your likely living costs to estimate how much annual income you think you would need from 65 onwards. Allow for inflation and then multiply the figure by 25. This give you an estimate of your ‘magic number’; the retirement fund you will need to provide the income you require." Zhun bo, bro. you better just buy a few Rolexes from me lah , help me to retire 🤪 Edited June 21, 2021 by Throttle2 Link to post Share on other sites More sharing options...
Rickster 5th Gear June 21, 2021 Share June 21, 2021 On 6/20/2021 at 10:21 AM, Cheesey74 said: Below says it all... "The reality is that once you have chosen to live beyond your means, your expensive lifestyle will come back to haunt you now even if you lock yourself at home and cut all spending except for food and utility bills. This happens if you have borrowed heavily to pay for, say, a multimillion-dollar home and a $500,000 car - your monthly loan repayments alone would be enough to cripple you once your regular income is affected." Ya, the title is like a click bait. It's nothing to do with "high" income earners.. 6 to 20K per month cannot be considered high income earners 😂 It's just about overspending and bad financial management that can happen to anyone in any income bracket. 1 Link to post Share on other sites More sharing options...
Weez911 Supersonic June 21, 2021 Share June 21, 2021 27 minutes ago, Throttle2 said: Zhun bo, bro. you better just buy a few Rolexes from me lah, help me to retire Just kidding bro. I thought this is a subtle product placement the moment I read it. Link to post Share on other sites More sharing options...
Rickster 5th Gear June 21, 2021 Share June 21, 2021 (edited) 7 hours ago, awhtc said: I guess from the mid-40s onward, one should not take up new large loans that are more than 2x the annual income. Instead, try to clear as many loans as possible to become financially independent by the mid-50s or earlier. I think that's a good way to look at things. Another way is to look at it is net worth. If your net worth is 1 million, for example, and have only 1 property (your own residential), you are better off than someone with a net worth of 500K, but have 2 investment properties serviced by loans. So it might be worth looking at retirement goals from net worth perspective. Edited June 21, 2021 by Rickster Link to post Share on other sites More sharing options...
Dp26 5th Gear June 21, 2021 Share June 21, 2021 1 hour ago, Weez911 said: Investing all my money with St James Place now! https://www.sjp.asia/what-we-do/retirement "Calculating how big your retirement fund needs to be is relatively simple. Take into account all your likely living costs to estimate how much annual income you think you would need from 65 onwards. Allow for inflation and then multiply the figure by 25. This give you an estimate of your ‘magic number’; the retirement fund you will need to provide the income you require." Can’t understand how they survive this business with their high charges. Link to post Share on other sites More sharing options...
Weez911 Supersonic June 21, 2021 Share June 21, 2021 (edited) 36 minutes ago, Dp26 said: Can’t understand how they survive this business with their high charges. They have an AUM of £136b, not the biggest globally but will definitely survive. Not relating to this AM specifically but the performing ones pay their top guys very well. I know of an Investment Analyst (yes that's his title) of an US AM who made U$5m last year. His tax alone is 7-digit in USD. He is not even among the Exec Management Team. Don't worry for them. Edited June 21, 2021 by Weez911 Link to post Share on other sites More sharing options...
Windwaver Turbocharged June 21, 2021 Share June 21, 2021 4 hours ago, Throttle2 said: Well i can straight tell you in the face, bro. $8kpm is NOT high income. why ? Becos $8k per month cant allow you to enjoy the things that high income earners enjoy. of course some smart ass is gonna say, “ its all relative, whats high to him is not high to you , blah blah blah” but seriously if $8k is high, what is $80k , 神 ah?🤣😂 In a way yes, can you imagine $8K per month how to become private bank customer? Like that I no job leh However, must respect the reporter that wrote that article , must be humble also. Link to post Share on other sites More sharing options...
Spidey10 Supercharged June 22, 2021 Share June 22, 2021 15 hours ago, Windwaver said: Your dad and my parents are very wise people and luckily I took their advice too yup....i think their generation where life was really difficult, (my mom used to sell stuff in the wet market and wakes up at 5 30 every morning and finishes at 10 at night, mind you she is on her feet ALL the time). They only have work and work and save for the kids and ask us to get a good education and not give up easily....miss those kampung days .. 1 Link to post Share on other sites More sharing options...
Vidz 6th Gear June 22, 2021 Share June 22, 2021 actually its a wake up call for me. took time to learn about investments. was too lazy but got some cash to put into investment than keep in saving corner, not high income but through years of savings. delayed gratification is the best! cash is king for present, but not the future... food for thought 😀 Link to post Share on other sites More sharing options...
Spidey10 Supercharged June 22, 2021 Share June 22, 2021 18 hours ago, 13177 said: Cannot buy house after mid 40s liao. Since housing loan is the most biggest loan. Can lah.....can still buy...………………………………………………………..but must be fully paid in CASH!!! Link to post Share on other sites More sharing options...
Throttle2 Supersonic June 22, 2021 Share June 22, 2021 19 hours ago, Karoon said: For all u noe they have 2mil stashed away but still worried as they think its low. $2mil is pretty low Link to post Share on other sites More sharing options...
yishunite Turbocharged June 22, 2021 Share June 22, 2021 I feel like this thread headed here 😅 https://theindependent.sg/man-comments-in-fb-group-indians-in-singapore-that-a-s7200-salary-may-not-be-enough-to-live-comfortable/ ↡ Advertisement 1 Link to post Share on other sites More sharing options...
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