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It’s common knowledge that there is a salary ceiling of $4,500 for both employer and employee CPF contributions.If you earn more than $4,500, you only need to contribute $900 (=20% x $4,500) to your CPF. Even if you make $20k a month, you still contribute $900. Your employer contributes $652.50 (=14.5% x $4,500). The rates ...
If you have been working for some years, you should have a rather significant amount of money in your CPF Special Account.The savings in your CPF SA currently still earn a 4% interest rate, totally risk free. There’s also an additional 1% interest paid to the first $60k of OA+SA.The interest is high enough to ...
Congrats on your new condo purchase. It’s a significant milestone in your investment journey.You diligently studied the property market and got in at what you think is the right time.And now, all that’s left to do is to find a tenant. Yes, you’re renting out your spanking new private apartment, fully furnished.As a person who’s ...
When I posted about graduate couples having no problems saving $1 million, I used an investment return of 3% in my calculations.If you can consistently generate a 3% return every year, you will turn $100,000 into $103,000 in 1 year, and then make that $103,000 become $106,090 in 1 more year. With such compounding, your ...
We can reasonably expect Singapore to plunge back into recession at the end of this quarter. If it does, we will be the first country in Asia, and possibly the world, to experience a double dip recession in the aftermath of the global financial crisis.Our economy first dipped into a technical recession in Q3 2008.Advance ...
9.2% of resident taxpayers made $100k to $150k for YA2008, up from 7.8% for YA2004. The increase has been gradual and consistent through the years.In fact, all income tax brackets above the $80k mark saw a similar increase.In contrast, it was a decreasing trend for the lower income brackets between the $25k and $50k levels.These ...
The average expenditure of all Singapore households is $4,388 per month. This is according to the Household Expenditure Survey (HES) report released last month by the Singapore Department of Statistics.Households staying in 5-room and executive HDB flats spend an average of $4,926 per month, while those in 3-rooms and 4-rooms spend $2,482 and $3,551 respectively.Families ...
If you and your spouse are working professionals making median salaries, it’s not hard for both of you to accumulate $1 million before you reach 45 years old.Suppose both of you started working at age 25, and always save and invest one-third of your income. If your savings and investments earn just a 3% rate ...
If you and your spouse are working professionals making median salaries, it’s not hard for both of you to accumulate $1 million before you reach 45 years old.Suppose both of you started working at age 25, and always save and invest one-third of your income. If your savings and investments earn just a 3% rate ...
One good way to achieve financial success (i.e. make lots of money) is to do business. This is a view shared by one of the (few) millionaire forummers at Salary.sg Forums:“- If I want to be rich, what’s your advice for me?It seems to me that the only way to be rich for most who ...
One good way to achieve financial success (i.e. make lots of money) is to do business. This is a view shared by one of the (few) millionaire forummers at Salary.sg Forums:“- If I want to be rich, what’s your advice for me?It seems to me that the only way to be rich for most who ...
You ask, “What’s my pay increment for 2010?” Mercer says you can expect 3.2% pay rise next year.The HR consultancy based its projection on a recent survey of 262 companies across 11 industries.Mercer predicts that pharmaceutical companies will give out the highest increments at 4.1%. In comparison, banking and finance employees will only get 3.1% ...
You ask, “What’s my pay increment for 2010?” Mercer says you can expect 3.2% pay rise next year.The HR consultancy based its projection on a recent survey of 262 companies across 11 industries.Mercer predicts that pharmaceutical companies will give out the highest increments at 4.1%. In comparison, banking and finance employees will only get 3.1% ...
If you are car owner, does your pay match your car ownership status? If you don’t have a car, how do you know if you can afford one? In this article, Salary.sg proposes using $7,65 …
If you are a car owner, does your pay match your car ownership status? If you don’t have a car, how do you know whether you can afford one? In this article, Salary.sg proposes usin …
Many people often wonder if they can afford to stay in private housing. There are various ways to find the answer. You can ask a bank, calculate your debt ratios, use our 7.6x guideline, or compare your income with the average income of your desired housing type – which is the main topic of this ...
Many people often wonder if they can afford to stay in private housing. There are various ways to find the answer. You can ask a bank, calculate your debt ratios, use our 7.6x guideline, or compare your income with the average income of your desired housing type – which is the main topic of this ...
I remember watching the NKF charity show on TV as a kid. The whole thing seemed so meaningful to me that I picked up the phone and repeatedly dialled the donation number. No, I didn’t seek my parents’ permission, but let’s not sidetrack. I continued watching these heartwarming and often emotional charity shows into ...
I remember watching the NKF charity show on TV as a kid. The whole thing seemed so meaningful to me that I picked up the phone and repeatedly dialled the donation number. No, I didn’t seek my parents’ permission, but let’s not sidetrack. I continued watching these heartwarming and often emotional charity shows into ...
This year, civil servants will get the usual AWS and a one-off payment of 0.25 month capped at $750.This means that a civil servant earning a monthly salary of $3k will get 1.25 months of bonus worth $3,750, whereas another civil servant earning $10k a month will only get 1.075 months or $10,750.Whose bonus would ...
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