Boss' bicycle (some say with the seat removed) is his best companion. You say leh?
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Is My Salary OK?
- Thread starter alantan27
- Start date
Boss' bicycle (some say with the seat removed) is his best companion. You say leh?
U are quite true on this point. Just before I retired I did have 2nd thoughts of what am I going to do since I am no more working, I did wrote in this forum asking people for their feedbacks then. After I handed in my letter of resignation to my boss and told him that I was going for earily retirement he was shocked. Talked to me a few times and finally knew that he could not change my mind he wished me well. Thou he was an ass hole at work he was kind enough to hold my position for 6 months if I find retirement too taxing for me and would want to go back to work. For the first few months I was quite busy handling all of my SG houses ( Eg : Interviewing tenants that are going to rent my house and rooms, taking back all my investments from my useless bankers and closing some dead accounts ). Then when I moved overseas to my new home I became a part-time foreman for the reno of my house ( Bloody hell I even have to teach a malaysian electrician how to do safe and proper wire laying and installation of breaker boxes and sacked a weilder because he just can't produce the standard that I wanted. I even showed him the weilding process fucker yah yah ignore me )
Now that all the dust has settled I just collect rent from my rental in SG and partner with my bro inlaw in a small import/export tea business. As and when when my mom wants to go for a short holiday I am always there to accompany her. Gone were the days where all of us were working and couldn't take leave to follow her for holidays. Infact I am more busy now that I am retired than before I retired and my former boss actuallydid called me up after 6 months asking how is retired lifeand if I wanted to return to work.
So what Sam said is very true retirement does not mean stay at home and jor mo lan ( doing nothing ) There are 101 thing out there waiting for you its weather you dare to take the 1st step to explore. Don't worry you won't starve to death in SG during my retirement I have done some charity work and found that churches and temples provide free meals to the needy with no questions asked ( Not 5 star standard ). What makes my blood boil is sometimes FT and FW misused them and packet the food home.
Hence my fellow humans if you think its time to break those chains and all your responsibilities ( spouse, siblings and parents ) are taken care take that step into the dark. Who knows you might just be the next Bill Gates
OIC. So he just needed to convince his SO which is a seatless bicycle, to take the plunge. Piece of cake.
The original question of "Is My Salary OK?" have evolved into a discussion of retirement.
Talking about retirement and planning for it, the questions raised by Clone are very important.
I am surprised that Boss Sam simply brushed it aside. Whatever it is, hawker's input said it all.
The marital status question is very important because in my case, I married somebody of my level - both graduates. What we did was, after we got married, we spent on only ONE income. The other income, we saved and later invest. Lifestyle control is important. Avoided debts, drove cheaply [no COE or $5k COE] and stayed in HDB. This continued even after the kids came along. Hiring a domestic helper was also within the budget then. As years gone by, with good increments, promotion & bonuses then and without fear of sickening FT depressing wages or taking away our rice bowl, we are able to accumulate a fair bid.
Lots of planning, proper discipline & execution are required. That is how we are able to retire. Without my wife, it is unlikely I could retire now. She gave lots of support and provided the much needed discipline to stick with the plan.
BTW, both of us came from poor background and we have to support families of both sides as well.
Back to TS alantan27, how much you earn, whether ok or not, depends alot on your lifestyle and the choice you made in your life.
For the rest, thinking about early retirement, the above is one real life example of how it has worked out - go find someone who can help you realised your dream. Have more kids and vote the people who make your dream so hard to achieve out!
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so, u now got 2 million cash, ur wife oso got 2 million cash? ...
Bro po2wq, the answer to your question is partly found here: http://www.sammyboy.com/showthread.php?125431-My-Friend-Jocelyn&p=1192161#post1192161
Lets just say we have more than enough to live very very comfortably on interest income alone.
Even with $4 million cash in SG, it is nothing because interest income is really low. More so, when the interest received can't even cover inflation. You are eating into your real dollar value without even spending a single cent!
In SG, one has to put that $4 million to good use like placing it in properties when the prices were at more acceptable level or other revenue generating assets. Guess you know whose policies drove property prices sky high?
And yes, in SG, it is better to die than to fall ill with protracted heavy medical expenses.
I really feel sorry for SG kids these days.
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hehe... i am beginning to like you already. getting hysterical over points.
ok lah.. up you.
toolanliao, did u up me? if yes, i thank u...
i m not angry... just find the whole thing ridiculous
i m not angry... just find the whole thing ridiculous
hehe... i am beginning to like you already. getting hysterical over points.
ok lah.. up you.
In career, sometimes also depend luck. While working very hard does not equate to promotion & receiving more bonus. One may necessary qualification, skill and experience but does not means employers will hire you and give a higher salary.
Nowadays many employees between age group of 35 to 45 salaries were stagnant and for them change jobs mostly will resulted pay cut for about $200 to $500. Even to applying section or department managers position, the employers will still only offer middle-level executive pay.
Middle-level executive now has difficulty in finding jobs that pay between $4000 to $5000 a month regardless whether degree or diploma holders :(
are you a full engineer or technician? if you remain status quo in terms of experience and skills, you run the risk of being replaced by cheaper better faster FTs
coz FTs are now doing middle manager jobs for $3k and below.
so far the only protected salaries are those of politicians.
Bro chootchiew, we were kind of "lucky" to end up not qualified for new HDB flats from HDB.
Those were the days where a 5 room resale cost around S$150k. Cars don't come with COE. I remember buying a 3 year old hatchback for $16k. Domestic helpers cost alot less too. Those were the days where the govt of Singapore takes care of the citizens of Singapore. There were stability and folks then could plan with greater certainty. I was very proud to be a Singaporean then.
Sadly, it is no longer so. See below for the reasons why...
Bro Chinese, who did you vote for in the recent general election may I ask? It is the self serving party that created the whole mess. Singaporeans deserve the government they elected. I am afraid, come 2016, it may be too late as the massive number of new citizens may tilt the balance in favour of that self serving party.
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The original question of "Is My Salary OK?" have evolved into a discussion of retirement.
Talking about retirement and planning for it, the questions raised by Clone are very important.
I am surprised that Boss Sam simply brushed it aside. Whatever it is, hawker's input said it all.
The marital status question is very important because in my case, I married somebody of my level - both graduates. What we did was, after we got married, we spent on only ONE income. The other income, we saved and later invest. Lifestyle control is important. Avoided debts, drove cheaply [no COE or $5k COE] and stayed in HDB. This continued even after the kids came along. Hiring a domestic helper was also within the budget then. As years gone by, with good increments, promotion & bonuses then and without fear of sickening FT depressing wages or taking away our rice bowl, we are able to accumulate a fair bid.
Lots of planning, proper discipline & execution are required. That is how we are able to retire. Without my wife, it is unlikely I could retire now. She gave lots of support and provided the much needed discipline to stick with the plan.
BTW, both of us came from poor background and we have to support families of both sides as well.
Back to TS alantan27, how much you earn, whether ok or not, depends alot on your lifestyle and the choice you made in your life.
For the rest, thinking about early retirement, the above is one real life example of how it has worked out - go find someone who can help you realised your dream. Have more kids and vote the people who make your dream so hard to achieve out!
Without a wife, when you are in your late 40s you'll not only can retire anytime but have at least 3 private properties in your very own name without ever doubting whether your that the other half wanted any part of you including your balls!
Right, Sam?
Bro po2wq, the answer to your question is partly found here: http://www.sammyboy.com/showthread.php?125431-My-Friend-Jocelyn&p=1192161#post1192161
Lets just say we have more than enough to live very very comfortably on interest income alone.
Even with $4 million cash in SG, it is nothing because interest income is really low. More so, when the interest received can't even cover inflation. You are eating into your real dollar value without even spending a single cent!
In SG, one has to put that $4 million to good use like placing it in properties when the prices were at more acceptable level or other revenue generating assets. Guess you know whose policies drove property prices sky high?
And yes, in SG, it is better to die than to fall ill with protracted heavy medical expenses.
I really feel sorry for SG kids these days.
Seeing the earlier post, FD or Savings Acct in SG, is paying pittance.
The 3 local banks preference share, at the very least, is still paying a 4.7% to 5.1% with a certain element of risk as well.
Nevertheless, going by your nick, you are not blur at all.
Bro lifeafter41,
Personally I have not read the details of those preference shares issued by banks. However, just on the surface of it, one must realised a few risks, among others, involved:
1. For a start, you may want to google the followings characters - Kweku Adoboli, Jérôme Kerviel and Nick Leeson. It is likely that no payment will be received if the bank is not profitable. That could be a result of the work of a rogue trader. One never know when it will happened.
2. Missing payouts during the bad years may not be cumulative. Too bad if you missed a payment.
3. Likely to say goodbye to most of the principal amount if the bank went bust. Preferential shares generally rank just above ordinary shares but they are ranked way down the table. This, as against a government guaranteeing up to $250k for every account holder of every bank as it is in Oz.
4. What about tax? Is the amount payable after tax or before tax?
Bottomline, just off the cuff, why would any bank pay 4.7% to 5.1% for your funds when they could pay less than 1% for similar funding viz deposits. Perhaps those who had the bad experience of minibonds in SG could well remember and understand that there is no free lunch.
Hey you think I not blur, can you up me then? Leave me your nick, and I will return fave in due course.
Your truly,
a blur sotong :o
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Bro blur sotong,
My family and I voted for WP last year. But they only managed to capture 6 precious seats and still too weak to force a major change in SG society.
Ha Ha Ha Ha. Done
The fact that they borrow from shareholders and not from other banks and at such rates means that this money is not used in the normal way which is quite safe like lending to customers, with all the bank checks and controls in place. This money is likely to be used for risky things like investment. Your chance of seeing your money back also diminishes.
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