Hi guys, I’m wondering how much you guys earn to have a stable and comfortable living. How many hours of workweek you all have.
Thinking of owning a house, car, marriage, kids. Those all are expenses. How much you all earn in order to make it by 30 years old since Chinese always said 三十而立 meaning you should be at least having a stable life by 30 years old.
On top of that, need to bear in mind of parents allowance, education fund for children, retirement fund.
What’s the realistic timeline and what golden rule that you all following?
Thanks in advanced.
You are aware that the same city has 23 year olds who get fancy degrees and starting pay 7k and other 23 year olds who do design work for minimum wage and maybe top up with grab riding at nights?
If you want the actual average (or more usefully median) earnings, government has released the data by age group and state, easy to find and read with convenient infographics.
But it’s only marginally useful because our work force has very clear socio economic stratas. And you have not mentioned which one you fall into. If your earning capacity is 4k, me telling you you should earn 7k doesn’t help at all. If your earning capacity is 10k you wouldn’t listen to someone saying 3.5k is enough for a simple comfortable life. Because your expectations on life style would differ significantly.
Also old Chinese saying (literal translation) - people compare people, compare die people. Thus, it depends and why compare to others instead of to your old self and plan & do to get better?
totally useless to ask this. Salaries is a range…just like ppl and thier earning capabilities. starts from 1700 all the way to 100k
A rempit at 20 25 30 35 will earn more or less the same his entire life, doing grab, FnB, lalamove
A harvard grad at 20 25 35 will see much bigger earning potential
Where are you?
Recently moved to JB. Me and wife are both gomen HCWs 30y/o with a combined income of ~11k supporting 2 kids (toddler and infant). We’re Malay but we split commitments 50/50 because it’s really impossible to live on a single paycheck. To be honest it’s not comfortable at all but not exactly paycheck to paycheck. Really have to keep a tight spending plan and try to have fun as a family for free (beach trips, public parks etc).
I started working when I was 29 in KL, earning RM2,100, by 35, my salary is about RM2,700 (still at the same company), by 40, my salary (including allowance) is about RM11,500 (already at my 3rd company), by 45, it’s RM17,000 (same 3rd Company), by 50, it’s RM32k (at my 5th company)
Not sure why I see this post here again but I’ll post my answer here as well:
Let me share my perspective as a licensed financial planner. I have clients from all over Malaysia, and from different age groups. Now, first of all, these people want to become better financially, so they are already biased. They also tend to have good incomes. They also are pretty stable, and have savings and salary that can support house, car, marriage kids. So I’m sharing from perspective of people who have all the things you are looking for. Are they comfortable? Some are, some are not. So please keep that in mind from the start.
Age 25 to about 27 - RM5-RM6k
Age 28 - Age 32 - RM 10k-RM12k
Age 33 - Age 35 - RM 13k-RM18k
Age 36 - Age 41 - RM 19k-RM30k
Age 42 - Age 48 - RM 31k-RM50k
Age 49 and above - RM 51k and above
Now this is super extreme case, depend on the industry, competency, skillset, everything.
What I see very clear is that:
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Industry matters
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Competency and skill matters
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Good money management and awareness
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Practice delayed gratification and long term thinking
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They have a lot of grit - they grind and don’t give up easy
I hope this doesn’t put some people off, but this is I would say the top of the top of normal employed salaried workers.