I turned down a $1000 increment to join a fark up Co

[Bad New Brown]

A loser.

1. One should earn as much and as fast as possible. Dont go thinking you will be able to work until your retirement age as you would like to plan. Illness may strike, and alot of unforseen circumstances etc.

2. If you are a winner, head hunters in the industry will be be hunting for you. So no need to worry about high turnover of the company.

3. Present company treating you well should not have any bearing for rejecting the new offer. You can still maintain good relationship with the former company and maybe help that company in the future when you are able, since they treated you well. Strengthen yourself to return the favor. Win win.

4. IMO, you are stagnant. You are afraid to lose your job if you go to the new company. Implies your expertise and experience is not in demand. Current new offer is by luck only. If one is headhunted, prospective employer can be very accommodating.

5. Seems that you have apprehension in taking challenges because you are not well equiped.

Bitter medicine is not nice, neither is sincere words comfortable to the ears.

I appreciated what you have said.

 

[Bad New Brown]

Was about to say the same thing but you beat me to the punch. It sounded the TS has reached his comfort zone. Most that have reached it would not want great change at all. Preferring to remain status quo. I suppose as long as he is comfortable. Just don't be surprised when you get retrenched at 40.

Not so comfortable at present. But still prefer to stay on present workplace. I cannot predict whether I will lose my job at present employer or any future companies. But I still cherished my present jobs & workplace.

 

[Bad New Brown]

depends on what you do on the new company man.

8 to 5 easy life in current company and recieved 4k every month vs work like a dog more than 12 hrs a day and earn 5k. i think its a easy choice to make

Same title but a little more duties on the job functions.

(a) Current working hours- 8:30am to 6pm not many overtimes but occasionally must work weekends then compensate by off-in-lieu.

(b) The reject offer - must work around 14 hours a day depending on management mood

 

[eatshitndie]

it would be less confusing if you wrote "i turned down a fucked up company that offered me a $1000 increment in pay."

otherwise, it sounded like you turned down a $1000 increment (so as) to join a fucked up company.

 

[Bad New Brown]

Whether you're a winner or loser doesn't depend upon how much you EARN. It all depends upon how much you SAVE and what what you do with the savings.

I've known individuals on $25,000 per month but they're losers through and through because achieving financial independence isn't anywhere in their goals. Instead, they're caught in a debt trap by spending way beyond their means.

On the other hand, astute planners have the ability to retire at 50 despite never having earned more than $10,000 per month at the height of their careers. Winning isn't about driving fancy cars, eating in fancy restaurants and flashing fancy credit cards. It's about having a comfortable lifestyle without having to kiss ass. That's what financial independence does for you. It enables you to live life according to your own schedule.

I agreed with you. I am trying to save for my retirement so I need a stable income

As fancy cars or fancy restaurants, that don't suit me. Probably I will say this to the sinkie women.

 

[Bad New Brown]

it would be less confusing if you wrote "i turned down a fucked up company that offered me a $1000 increment in pay."

otherwise, it sounded like you turned down a $1000 increment (so as) to join a fucked up company.

Sorry my English is not good

 

[Cestbon]

Same title but a little more duties on the job functions.

(a) Current working hours- 8:30am to 6pm not many overtimes but occasionally must work weekends then compensate by off-in-lieu.

(b) The reject offer - must work around 14 hours a day depending on management mood

14hr/day if continue one week already extra 4 day working time. So better give up $1000k. If drive taxi,most part time will get more than that.
Good choice.

 

[Leongsam]

I agreed with you. I am trying to save for my retirement so I need a stable income

What is your retirement fund $$$ goal?

If you have set a figure, how did you arrive at that amount?

Please advise.

 

[Bad New Brown]

What is your retirement fund $$$ goal?

If you have set a figure, how did you arrive at that amount?

Please advise.

$360,000 cash estimated (minimum) needed for 25 years if I retire at 55 yrs old.

A HDB flat fully redeem. Maybe rent out one bedroom ? depending on situation.

Foods, medical, PUB & conservancy add up to be monthly $1,200 living expense a month.

$1,200 x 12 months = $14,400 needed a year.

$14,400 x 25 years = $360,000


I am thrifty nature guy. No branded goods, expensive holidays and high end restaurants.

 

[Bad New Brown]

14hr/day if continue one week already extra 4 day working time. So better give up $1000k. If drive taxi,most part time will get more than that.
Good choice.

Thanks. I am not a spendthrift. So $1000 less earn a month don't really hurt me

 

[Leongsam]

$350,000 cash estimated (minimum) needed if I retire at 55 yrs old.

You need to take inflation into consideration.

If inflation is 3% per annum and you are 30 years old now, you'll need to save $733,000 by the time you retire at 55 to be able to afford what $350,000 buys you today.

You'll also need to note that inflation doesn't come to a standstill when you retire. If it continues at 3% per annum, the value of your savings will dwindle to almost nothing.

Your goal should be at least $1.5 million. You should also make plans so that you make your money work for you to the point where you can stay ahead of the inflation curve by at least 3% to 5%.

You're aiming far too low with a target of $350,000. I suggest you aim for at least $3 million. If you fall short by 30%, you'll still be comfortably well off.

 

[Leongsam]

For those planning for retirement, there are some very useful calculators at http://www.sorted.org.nz

If you want to save a million bucks in 25 years and you're starting from scratch, you can work out how much you need to save each week while factoring in the effects of inflation at the same time.

 

[vamjok]

bro no wonder increment of 1K. 9 and half hours vs 14 hours or more. its an increased of half to 3/4 day. not worth it, a healthy and balanced working lifestyle is more important.

no amount of cash can replaced time spend with your family or health. its not as if you are in serious debt or anything, you can afford to choose. you made a wise choice

 

[Bad New Brown]

You need to take inflation into consideration.

If inflation is 3% per annum and you are 30 years old now, you'll need to save $733,000 by the time you retire at 55 to be able to afford what $350,000 buys you today.

You'll also need to note that inflation doesn't come to a standstill when you retire. If it continues at 3% per annum, the value of your savings will dwindle to almost nothing.

Your goal should be at least $1.5 million. You should also make plans so that you make your money work for you to the point where you can stay ahead of the inflation curve by at least 3% to 5%.

You're aiming far too low with a target of $350,000. I suggest you aim for at least $3 million. If you fall short by 30%, you'll still be comfortably well off.

Thanks Boss. I did not know how to factor in the inflation rates. $1.5 mil probably will have to include my assets like HDB flat. I don't foresee myself earning so much money while working for people.

$350,000 cash target for me is very realistic.

 

[Bad New Brown]

For those planning for retirement, there are some very useful calculators at http://www.sorted.org.nz

If you want to save a million bucks in 25 years and you're starting from scratch, you can work out how much you need to save each week while factoring in the effects of inflation at the same time.

I save 65% of my take home pay in cash (no other investment)

I gave my parents allowances & personal expenses. No entertainment at all.

Present bank interest rates close zero :o

 

[Leongsam]

$1.5 mil probably will have to include my assets like HDB flat. I don't foresee myself earning so much money while working for people.

You should exclude your HDB flat for 2 reasons.

1) It's leasehold. By the time your retire, a significant portion of the lease would have been used up. HDB flats don't belong to you. They are "rented" for 99 years with the tenant forced to pay ALL the rent in advance. Leasehold property with less than 50 years remaining loses a significant portion of the original value unless the lease can be renegotiated and extended.. something which you know won't happen with properties owned by the fucking govt.

2) If you live in it, it's not a productive asset. It can only yield a return if it's rented out. If you rent it out, you have to live somewhere. It's a catch 22 situation

It's extremely hard to save a 6 figure amount working for someone else. That's the reason why you have to strike out on your own as soon as possible. Build up your contacts and hone your skills in your chosen field while you're employed. It will stand you in good stead when you venture forth.

I'll close by giving you a little tip for making money on the share market which I consider almost foolproof. Be a contrarian while sticking to the blue chips. EG, whenever the share market plunges, BUY blue chip stocks. SELL when you've made 50% on the rebound. Don't be greedy. Just sell and pocket the money so you can sit back and wait for the next opportunity.

I've done this for shares like Citibank, BP, Coke, GE etc and it has worked every time. I have lost money too but these losses have been on higher risk punts and I only put in what I was prepared to lose completely if things didn't work out.

 

[no_faith]

I'll close by giving you a little tip for making money on the share market which I consider almost foolproof. Be a contrarian while sticking to the blue chips. EG, whenever the share market plunges, BUY blue chip stocks. SELL when you've made 50% on the rebound. Don't be greedy. Just sell and pocket the money so you can sit back and wait for the next opportunity.

i tot you only peddle your sex forum. didnt noe u play potato CHIPS.

but this is a sound advice.

 

[vamjok]

actually if you are mentally prepared to lose those portion of money, you should throw on the red not the blue, like Ah Huat fish and prawn farm etc.

 

[Leongsam]

i tot you only peddle your sex forum. didnt noe u play potato CHIPS.

I don't have a sex forum. All I have is this one plus a few other specialty forums that deal with specific hobbies such as cycling, fishing and pottery.

 

[Bad New Brown]

I'll close by giving you a little tip for making money on the share market which I consider almost foolproof. Be a contrarian while sticking to the blue chips. EG, whenever the share market plunges, BUY blue chip stocks. SELL when you've made 50% on the rebound. Don't be greedy. Just sell and pocket the money so you can sit back and wait for the next opportunity.

I've done this for shares like Citibank, BP, Coke, GE etc and it has worked every time. I have lost money too but these losses have been on higher risk punts and I only put in what I was prepared to lose completely if things didn't work out.

Again thanks boss. I will take time to study it