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quite creative of u to collate these various milestones! thumbs up

Thank you. Very good video. Alot of info that I was not conscious of.

Funny thing is when we were at the under 10k level, we always try to get these points and benefits fr cards and memberships. I remember juggling a few cards to max out benefits. Now when we earn a lot more at middle age, we try to cut back on all these cards. We are more worried about scams then getting these benefits.

Hi Chris. Thanks for your sharing. The milestones you shared are relative but it is a very good gauge. Will be sharing your reports with my folks. Anyway, it will be super helpful again if you can do a video on what people of each milestone can do to leverage and optimize their work income for credit cards, trading strategy, and planning their retirement. People within each milestone have their fair share of liabilities and lifestyles. Anyone in each milestone can lead a better life if they know how to plan their finances. Good job and looking forward to your next video ~!

@Wagmi0

Жыл бұрын

Good idea!

Take note $4333 is inclusive of the AWS and all the bonus so in retrospective, if get AWS and 1 month bonus, ( 2 month extra ) the average real median income is around $3500-$3800

Hi chris, which tier range is sustainable for your entrepreneurship journey?

Age 45 years old and over 20 years experience as a technician. My last drawn pay was $2700. Getting old and still stuck at tier 1. To be honest, most manual jobs pay less than 3K. I’m lucky I can work OT to earn slightly more than 3K. But there will come a time when it becomes physically harder to clock extra hours.

@donykoh

Жыл бұрын

i guess you can work as freelance, 1-2 work order perday should reach 150.

@munster1404

Жыл бұрын

@@donykoh What kind of freelance work? Food delivery? Being a technician is the only thing I know. Never trained for anything else in my whole life.

@donykoh

Жыл бұрын

@@munster1404 electrician / plumbering / handyman

@ridzjustanobody

Жыл бұрын

@munster1404 as @donykoh pointed out, you should try freelancing as electrician/plumbering/handyman. never try never know bro. wish u all the best!

@Laodong-r3m

Жыл бұрын

The reason for your low salary is because Singapore is addicted to free flow cheap foreign labour.

Will you stay in a stable job or take a higher paid (assuming $8k tier) but risky and stressful?

Poly and U graduates typically can make $2500 pm To get a premium card you probably need $5000 pm or more

10k @ 25 years old and 10k @ 35 years old and 10k @ 45 years old very different

@LangLang5689

7 күн бұрын

wrong

Depends on your age when you reach 10k salary... many of my peers is earning >10k and frankly its just enough to get by in Singapore more comfortably but certainly i do not feel rich at all ....

the salary you mention is before CPF or after CPF deduction??

Some internet companies pay fresh graduates who work as Algorithm Engineer at 9K per month.

R u referring to gross or take home?

Recruiters can earn from 3k to 16k and above per month based on commission

U stay in boon keng?

Is this before tax or after tax?

Actually there are more milestones than that. You should reference the IRAS income tax schedule. there are milestones there too.

@ashtoncap2161

Жыл бұрын

I guess the milestone mentioned in this video resonates with majority of working singaporeans ... anything more than that is different liao...those are the rich 1-3% fellas of singaporeans...so no point stating those milestone already...

Intriguing topic Chris! Got chance Id help expand the discussion scope after the last chapter based on what I see from my network Smashed the LIKE button for you! =)

@HoneyMoneySG

Жыл бұрын

Thank you Josh, hope to see your take on this soon!

Curious how did you reach FRS at milestone 3?

@HoneyMoneySG

11 ай бұрын

Right here: kzread.info/dash/bejne/mYd_j8hvn7Hak7g.html

7k haven’t contribute to CPF ? I think if you hold full time and part time job it is possible to earn 7k per month.

Fortunately for me, all my positions were underpaid and overworked...

the money is in tech and finance.

Was in a game company and I’m finally telling myself enough is enough. I need a higher paying job. So I decided to switch to tech..

Bro Ur title n the video don't match

Even with 10k/mth, it is barely enough to own a car + 1M condo

@marg8315

Жыл бұрын

And that’s 10k before CPF contribution.

@Laodong-r3m

Жыл бұрын

Car and condo is not essential, it is consider luxury item here.

@pingdragonify

Жыл бұрын

Even with 100k/month, it is barely enough to own 10 Bugatti, private jet and a humble 100M mansion in Singapore.

@Ziiqing

Жыл бұрын

Car is not an essential, not something I would even consider if the combined income is below 15k per mth. If you use it to fetch your kid from school or to bring your elderly parents for trips, a rental car for ad hoc use is a lot cheaper than owning a car.

@currypuff4379

Жыл бұрын

​@@pingdragonifyf man. Even with 9 buggati, I feel like a second class citizen

There is one more milestone, one rhat i will not reach in my lifetime, 500k per year for the highest tier of credit cards

Got some of my peers in early 30s already hitting 20+k SGD a month le but I don't think they even living comfortably. wei sure bo 10k considered good. ermm I don't think can even live properly in CBD.

@TFRO_madRobots

5 ай бұрын

if u want to live in cbd early have to be front office finance in bulge bracket IB or hft straight up

@nicholasjack833

5 ай бұрын

@@TFRO_madRobots u forgot web3.

@SkyDread

3 ай бұрын

What do they do if I may ask?

@nicholasjack833

3 ай бұрын

@@SkyDread Head level/ VP

Milestone 8 is when you're eligible to be an accredited investor in Singapore, and milestone 9 is when you can open a family office hahah

@robertgu8551

2 ай бұрын

this guy fucks. I am accredited already. How much to set up a family office in the region? In the US around at least $20m USD

Can be $2000 or $1000000.

But when i go on local online forums or family gatherings, it seems like the average pay is between $15-20k a mth for a person in their late 20s to 30s, with some earning a lot more. Based on that, I believe the official stats might possibly be inaccurate.

@2736492821

Жыл бұрын

or official stats are actually the real ones instead of hearsays

@Wagmi0

Жыл бұрын

That forum everybody also 20k only la 😂

@OngLes-vv1uj

7 ай бұрын

Don't want to lose face

As a single, the magic number is about 12-14k a month. Family of 4, about 24k a month. This is based on, car + condo + travel + tons of savings. I don’t know why anyone would aim any less than this. Please do not go around preaching to others that 5-10k is a lot of money, u stop there, you are finished.

@pingdragonify

Жыл бұрын

Coz you want to have a car and condo. People who are smarter can live with HDB and public transport which drastically decrease your "magic number". Single why need car? Grab anywhere is still cheaper and convenient than owning a car. Single why need condo? Singapore already so safe why do you need the added security and throw money into the black hole that is condo miscellaneous fees? I don't know why you assume people want to waste money on luxury and depreciating assets.

@khaosmue2114

Жыл бұрын

@@pingdragonify why? because it’s a representation of financial security. And u think cutting your cost of living is the smarter choice? That’s just adapting to failure, and how long can you keep that up. So today u tell me take public transportation and live in hdb, save money. Tmr, you going to tell me to walk instead of taking public transport, live in a studio to save money? The day after, are you going to tell me eat only 2 meals a day? You see where I am going? The Cost of living is ever rising due to natural laws of economics. Tightening the belt, cutting cost of living is never the solution. You do that, your life will only get increasingly miserable. The solution is to increase income. It’s not why need a car, it’s having the choice of buying one or not buying. There’s a diff between I don’t drive cuz I choose to, and I don’t drive cuz I can’t afford to.

@pingdragonify

Жыл бұрын

@@khaosmue2114 cutting your cost of living so that more money is put into savings/investments you monkey. If I made 12k a month and I live in HDB without owning a car I can afford to go on more holidays and retire better than someone who splurges on depreciating assets and goods earlier on in their lives. Also you are making a slippery slope fallacy. If I want convenience and fast transport, grab is 1000x more worth in terms of money and time saved than owning a car. If I am not in a hurry public transport will do fine. It makes absolutely 0 sense monetary and time wise to drive your own car in Singapore. Same with condos. If you don't plan to treat your condo as an investment, you are essentially bleeding money on useless facility fees you are barely gonna use. It is like buying a golden toilet bowl. You have better and cheaper alternatives, yet you insist on choosing the overpriced option, especially when we are currently in the midst of a global financial crisis. Other than showing off to your grandma, owning a condo and car has 0 upsides.

@kingbolo4579

10 ай бұрын

@@khaosmue2114 You present a logical fallacy known as the 'argument to extremes'. It is absolutely possible to live comfortably in Singapore on a lot less than you quote. For an expat the limiting factor is family size, not car ownership or travel. If you're not a PR, you either home-school or pay through the nose. For a Singaporean or PR - much easier. But I don't understand why anyone would own a car in Singapore, it's bonkers to want to drive yourself up and down an island this small.

@khaosmue2114

10 ай бұрын

@@kingbolo4579 it isn’t extreme at all. Do you know that from 2016 to 2021, about 33-40% of Singaporeans do not meet the Basic Retirement Sum (BRS) required? Based on these stats i think what Singaporeans think is a lot of money isn’t so. In addition, Singapore is objectively the most expensive city in the world. So if ppl in NYC think 10k/month is a joke to them, I don’t think you shld think the average often quoted SGD3-4K / month salaries in Singapore is normal and sufficient. You will be able to live comfortably with a little lesser than the numbers I presented, but is either that u will not have financial security or u will need to control many aspects of your spending. What I present, is the standard required to achieve financial freedom. Also, on your point on the car, like I said, it’s not about “why”. The “why” shldnt even matter, it’s about “are u able to afford one”.

Milestone 3 not bad alr. Esp u have no children yet.

It’s delusional to think $10k can lead a comfortable and affluent lifestyle. $10k in today’s Singapore you can barely afford a Honda civic. IMO, to be comfortable (i.e. stay in condo, own a car, 2x travel a year, eat in restaurants)in Singapore , you will need $25k minimally for combined income with spouse.

@livingjpeg

11 ай бұрын

stop being a D, living in SG is like easy mode rather than living in a 3rd world country, go save your 10K monthly salary then retire like a king for 7 generation on your neighboring country, third world country sucks earning less than 120 SGD a month 10K sgd a month u still bark.

@HoneyMoneySG

11 ай бұрын

That's your aspired lifestyle, not what many others want.

to be frank hope u do not mind. many of my colleagues earn more than 10k and they are not even manager.

@waliaowee

Жыл бұрын

Woah bro, which industry ?

@geekroute

Жыл бұрын

jin satki man

@ObeluStrawberry

Жыл бұрын

@@waliaowee IT

@ObeluStrawberry

Жыл бұрын

@@geekroute it is not about satki, because he may not get in touch with all industries or when people answering salary survey are more conservative so they actually give a lower income than they are getting. just wanted to say in fact many ppl are earning quite a lot but at the same time they may also spend a lot. end of the day is not how much you earn but how much you save or invest for retirement that matters. if a person earns 10k but spend 9k end up per year only save 12k... so how to retire? furthermore once they are used to the lifestyle of 9k they need even more money in order to retire.... so all these are like a vicious cycle.

@awinaung5361

Жыл бұрын

@@waliaowee yeah. I’m working at mnc as fresh grad software engineer starting salary 7k already. My senior earning easily over 10k plus

In banking, norm for salary to hit $30k per month.

@luv-nnd

Жыл бұрын

Don't bluff, only SVP can have such handsome salary, and how many SVPs can a bank have??

@twong6531

Жыл бұрын

@@luv-nnd Actually a lot SVPs, MDs would earn $50k as a minimum.

The first mile stone is a FH landed of at least 3550 sqft. But make sure you grab a HDB exe or 4 rm above HDB first cos then you can retain both HDB and landed. Thereafter, for the kill of a 2rm 2 bath condo! Thereafter, life time passive income and not hear the BS from this guy! Deal?😆😆😆😆😆😆

Success is such a narrow minded concept in Singapore. Everything is measured according to how much you can earn. The more the merrier, right? There are different kinds of wealth in this world, not just material wealth. Yesterday someone I spoke to said I look like someone in his forties. But actually I am 59. I have other kinds of wealth that keeps me healthy and satisfied. I may not hit those high milestones. But in other aspects, I maybe higher than most people. Life is more than how rich materially you are. Someone may be earning $10k, but he may feel like a beggar inside his heart.

I make 200k a year but still barely enough

@starsoffyre

3 ай бұрын

I'm quite happy with my 200k p.a. salary. But then again I'm still living with my parents. Still saving up for a condo downpayment (plus buffer in case I get laid off)

My life was perfect until my health deteriorates.

although u milestone 3, u have already independent salary via yt. congrats

@maccheese744

Жыл бұрын

I doubt his KZread channel is enough to substain his expanse looking at the view and subsciber he have. That just allowance for him.

MY SALARY IS Singapore Dolar 5000 PER MONTH... I WANT TO GET Singapore Dolar 10.000 PER MONTH.. PLEASE ADVISE WHAT TO DO... THANK YOU

@kingbolo4579

10 ай бұрын

The first steps are to stop writing in capitals and improve your spelling.

@starsoffyre

3 ай бұрын

Upskill, move to in-demand sectors

100k p.a complain need 250k. 250k complain need half million. Never ending rat race :(

@kingbolo4579

10 ай бұрын

Word!

@starsoffyre

3 ай бұрын

Just hit the 200k p.a. mark and I'm very happy. Maybe once I get used to it I'll start complaining lol

CICA min salary is 7-7.5k.. Just remember that guys.. MINIMUM. When they come in at the lowest starting salary they already surpass so many of our milestones, and start at MILESTOLE 5 lol

Never enough never never

10k salary is quite common in MNCs...

@awinaung5361

Жыл бұрын

Yeah true. I work at mnc as fresh grad software starting salary 7k

@sahil47

11 ай бұрын

@@awinaung5361what would you say salary should be for 9 year experienced in Singapore? I’m offered 10k salary? Should I accept and move there?

@papamac6489

11 ай бұрын

same i am getting offered 10k. I have my wife and 2 daughters going with me. Are we going to survive given that my wife would be jobless initially upon relocation?

@starsoffyre

3 ай бұрын

@@papamac6489 10k is quite challenging. It's ok for a local but as a foreigner, the rent is a killer especially if you need to house a family.

the graduates list is over inflated to be honest

$10,000 = SUCCESSFUL!?! $10,000 AFTER TAX is roughly the monthly mortgage payment for a freehold or 999 Condo. And to take home 10K you realistically need to make 13-15K depending on your specific tax situation. Making 15K a month means you can afford to pay for a Condo, assuming you run on sunshine and water, you don't wear clothes, you walk to work and you don't have a family to feed.😂 Realistically, to live well, drive a nice car, eat wherever you want, let your family do the same, and generally have a life you'll typically associate with being successful... I you need to make SGD$30K a month (half that if your wife is an equivalent earner). I make USD$19K a month (which is close to 25K SGD) and if not for cashing in on an en bloc I won't be able to afford a private residence in Singapore.

@livingjpeg

11 ай бұрын

stop being a D, living in SG is like easy mode rather than living in a 3rd world country, go save your 10K monthly salary then retire like a king for 7 generation on your neighboring country, third world country sucks earning less than 120 SGD a month 10K sgd a month u still bark.

@sahil47

11 ай бұрын

Are you working in IT? Im offered 10k sgd so should I be moving with salary offered?

@kingbolo4579

10 ай бұрын

Nonsense. $1.5mm condo, get something perfectly good for that, 20% down payment, $1.2mm loan. Pay back over 25 years, 4% interest rate, $6.3K monthly repayments. A bit difficult on $10K a month but certainly you can live in a condo for $15K. On $10K a month, you can be an executive HDB somewhere. I'd still call that successful. What makes you a success or not is whether or not you can support your family and build for their future. You can do that from an executive HDB, you can do that from an ordinary HDB, plenty of people do. It's a matter of definition.

Pritam singh of WP is paid $400k salary to serve the people honestly and responsibly, but he ends up being probed by the police for lying under oath.