Jan 14 2008, 06:15 PM
QUOTE(seantang @ Jan 10 2008, 10:42 PM)
If money is you only concern, then the choice is very simple to make.
Do a very basic comparative budget.
Option A: Msia.
Salary: RM3500
Tax & EPF: -RM500 (I just whack only. You need to calculate).
Expenses: -RM1000
Savings: RM2000 or SGD900
Option B: Sg.
Salary: S$3000
Tax & CPF: -S$500 (I just whack only. You need to calculate).
Expenses: -S$1000
Savings: SGD1500 or RM3300
$ for $, you're saving 65% more than you would in Malaysia.
If you're able to find a job that pays S$3500, same as the current RM3500 in Malaysia (it's quite common actually and Sg got way more higher level higher pay jobs too), AND assuming you don't go and spend that S$500 extra, you now have RM1100 more savings (total S$2000 or RM4400) ie. 120% more than the RM2000 you would have saved if you had remained in Malaysia.
Think of it this way, if you have to work in Malaysia 30 years before you can afford retire, you now have to work only 10-15 years in order to have the same amount of cash to retire on.
In addition, you will have much more money much earlier, and that earns more interest/dividends which in turn earns more interest/dividends. The time value of money and compounding interest paves the road to financial independence, my friend.
It's that simple. But as I said, this works if money is your ONLY consideration.
I plan to earn in SG just to setlle my debt and pay up all my expenses then return back to MAS. Probably few2-3 years there kua...Do a very basic comparative budget.
Option A: Msia.
Salary: RM3500
Tax & EPF: -RM500 (I just whack only. You need to calculate).
Expenses: -RM1000
Savings: RM2000 or SGD900
Option B: Sg.
Salary: S$3000
Tax & CPF: -S$500 (I just whack only. You need to calculate).
Expenses: -S$1000
Savings: SGD1500 or RM3300
$ for $, you're saving 65% more than you would in Malaysia.
If you're able to find a job that pays S$3500, same as the current RM3500 in Malaysia (it's quite common actually and Sg got way more higher level higher pay jobs too), AND assuming you don't go and spend that S$500 extra, you now have RM1100 more savings (total S$2000 or RM4400) ie. 120% more than the RM2000 you would have saved if you had remained in Malaysia.
Think of it this way, if you have to work in Malaysia 30 years before you can afford retire, you now have to work only 10-15 years in order to have the same amount of cash to retire on.
In addition, you will have much more money much earlier, and that earns more interest/dividends which in turn earns more interest/dividends. The time value of money and compounding interest paves the road to financial independence, my friend.
It's that simple. But as I said, this works if money is your ONLY consideration.
Quote
0.0243sec
0.49
6 queries
GZIP Disabled