Who Here Is Earning $50K/Month or More? Let’s Talk Strateg

[carey]

@carey @MoeLanYong @Bumperbee88
Is the data from this article correct?

https://vulcanpost.com/893461/salaries-in-singapore-mom-data-570-professions/

I have no idea how they gather the information but like the movie, there's the good, the bad and the ugly

The gap between a top performer and a bad one can be like heaven and earth in trading hahah

 

[cyke69sg]

https://ca.finance.yahoo.com/news/top-7-habits-quietly-wealthy-141400144.html

Here are the top 7 habits of “quietly wealthy” Canadians​

Vishesh Raisinghani
Sat, August 2, 2025 at 8:14 AM MDT 5 min read
https://stimulus.intelligenterassistent.com/42fa7ae7-cbb8-4e18-91f2-b6c9603acb3c

The millionaire next door doesn’t always have to make headlines or bask in an elevated public profile. They probably built their fortune in a mundane and boring way and live an equally understated lifestyle.
These are what some may call the “stealthy wealthy” and their habits hold powerful lessons for anyone serious about financial freedom.

Here are the top seven habits you could replicate to boost your financial position or peace of mind.

1. Avoid status symbols​

The cardinal rule of the stealthy wealthy is to conceal your fortune (or at least not flaunt it) so that you can enjoy it in complete privacy. That means no flashy toys or glamorous status symbols that call atten to your wealth. A quietly rich person isn’t likely to buy a Saint Laurent belt or Hermès Birkin bag. In fact, it’s the middle-class consumers, presumably trying to signal their affluence, who account for more than half of all global luxury brand sales, according to the Wall Street Journal.

Put simply, you don’t need to prove your wealth to anyone if you already have plenty of it. Avoid the status symbols and shop based on value and durability instead.
Retirement is about freedom — start with financial tools that give you more of it. Compare credit cards to find the right tool

2. Drive modest cars​

Contrary to the stereotype, millionaires and multimillionaires are not all driving around in Aston Martins or Bugattis. In fact, Dave Ramsey’s survey of millionaires across America found that the top three most popular brands were Toyota, Honda and Ford.
Picking a practical and relatively inexpensive car is perhaps the best way to retain your fortune rather than burning it off through a sports car’s tailpipe.

3. Maximize tax efficiency​

Making the most tax-efficient decisions is how most wealthy people retain their fortune and continue to expand it. Although your tax situation may greatly differ from someone with a seven- or eight-figure net worth, that doesn’t mean you can afford to neglect tax planning.
Take a page out of the stealthy and wealthy playbook and hire the best accountants and tax planners to help you minimize your liabilities.
Read more: ‘You’re going to live on beans and rice’: This senior told Dave Ramsey she has debt and zero savings — here's his response plus 3 retirement saving tips to get you back on track

4. Track and direct every dollar​

A Northwestern Mutual survey found that a whopping 84% of wealthy individuals had a financial plan, compared to just 52% for the general public. In other words, rich people are simply more intentional with their saving and spending.
Adopting this proactive approach means telling your money what to do instead of helplessly reacting to the amount of money left in your account after you’re done spending. Start with a budget and update it frequently as you make progress on your financial journey.

5. Focus on privacy​

Stealth wealth is rooted in a deep respect for privacy. By keeping your finances discreet, you not only protect yourself from fraud and financial crime, but also improve your chances of securing better deals and avoiding tension in personal relationships because “you can afford it.”

6. Avoid the hype cycle​

The stealthy wealthy, as the Wall Street Journal reports, were most likely to make their fortunes in relatively overlooked and mundane niches of the economy. Think cup holder manufacturers, commercial carpet cleaning or industrial appliance maintenance.
Put simply, most successful entrepreneurs and investors are not chasing the latest hype cycle and are instead focused on lucrative, always-on industries with sparse competition. If you’re trying to build wealth too, stop trying to design a billion-dollar AI tech startup and focus on something more practical and mundane.

7. Multiple streams of cash flow​

A single source of income, perhaps from your full-time job, is rarely sufficient to build wealth — especially these days. To reach the top, you need a diversified pool of multiple income sources. Consider a side gig to boost your income and invest in passive incomeopportunities such as real estate or dividend stocks to get to your financial goals

Sources​

1. The Wall Street Journal: Luxury Brands Need to Win Back Middle-Class Shoppers by Carol Ryan (June 21, 2024)
2. Facebook: The National Study of Millionaires by Ramsey Solutions
3. Northwestern Mutual: Planning and Progress Study 2023
4. The Wall Street Journal: Meet the ‘Stealthy Wealthy’ Who Make Their Money the Boring Way by Juliet Chung (May 2025)
This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
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[cyke69sg]

My End of year target is to hit 20k monthly distributions passive income.

And another 4 years to have 50k monthly distributions passive income.

 

[cyke69sg]

Are most of you high earners $50k and above on salary? Or does it vary eg business income?

How's everyone doing for the month of Aug?

 

[cyke69sg]

I have no idea how they gather the information but like the movie, there's the good, the bad and the ugly

The gap between a top performer and a bad one can be like heaven and earth in trading hahah

What's the outlook for bonuses this year end?

 

[carey]

What's the outlook for bonuses this year end?

No visibility for my own

Think most companies are pretty cautious in their outlook, given the ongoing tariff uncertainty

Would be happy to keep our jobs

 

[cyke69sg]

No visibility for my own

Think most companies are pretty cautious in their outlook, given the ongoing tariff uncertainty

Would be happy to keep our jobs

Doesn't sound good. Strange considering the US and SG markets at all time highs.

 

[Cyber_Ghost]

Earn $30k where got time for edmw?

only those bbfa edmwers working as slave in orpit earning cai png money so free to come in jjww daily.

ppl like me PHV service provider also free to come in jjww to pass times and beo kym threads.

 

[cyke69sg]

Earn $30k where got time for edmw?

only those bbfa edmwers working as slave in orpit earning cai png money so free to come in jjww daily.

ppl like me PHV service provider also free to come in jjww to pass times and beo kym threads.

I have heard this sentiment expressed many times here on EDMW.

Those earn 30k where got time to come EDMW?

So only poor people "got time"?

Interesting sayings.

 

[dnsfpl]

everyone also got time, as long as it's their priority

if got billionaire launch a brunch and chat session NOW, those earning 1m per month will have time to attend

 

[cyke69sg]

everyone also got time, as long as it's their priority

if got billionaire launch a brunch and chat session NOW, those earning 1m per month will have time to attend

When someone says they have no time it's not they no time unless they on death's door. It is a statement that whatever it is they say they have no time for is not a priority for them.

 

[dereth]

I have heard this sentiment expressed many times here on EDMW.

Those earn 30k where got time to come EDMW?

So only poor people "got time"?

Interesting sayings.

They 格局太小了

 

[cyke69sg]

Interesting. I got a call today asking me if I would be interested in resurrecting a business I was involved with.
I said sure.
Looks like I am going to be busier. But also means more money. Although I have been looking forward to slowing down things a bit. I will see how it goes.
I have found that having more options and doing work part time iwith various entities is better than being full time with ONE. So that's really my experience with how to get high income.
Ironically life is easier less busy and less stressful. Good to be in a niche market as well.

 

[BoganBob]

Which foreign shore are you considering?

What you mean golden handcuffs?

I like Spain, around the Costa Del Sol area - specifically Estepona. Chill vibe, cool peeps. A happy place.

Golden handcuffs refer to just another year syndrome - can poverty FIRE now, another 2 years, lean FIRE, a few more years FIRE, a few more years fat FIRE. The trade off is health vs wealth. Always lived to my income - yolo'd, only in recent years earned a decent salary so now paying the piper... Celery closer to 30k pm rather than 50k, so sadly may inadvertently posted in a thread that I was not qualified to post in. Please accept my humble apologies for the thread intrusion and will respectfully bid thee adieu.

 

[cyke69sg]

I like Spain, around the Costa Del Sol area - specifically Estepona. Chill vibe, cool peeps. A happy place.

Golden handcuffs refer to just another year syndrome - can poverty FIRE now, another 2 years, lean FIRE, a few more years FIRE, a few more years fat FIRE. The trade off is health vs wealth. Always lived to my income - yolo'd, only in recent years earned a decent salary so now paying the piper... Celery closer to 30k pm rather than 50k, so sadly may inadvertently posted in a thread that I was not qualified to post in. Please accept my humble apologies for the thread intrusion and will respectfully bid thee adieu.

30k pm is very good bro. You are more than welcome here. If add your passive income maybe closer to 50k also?

What's your strategy to get to fat FIRE?

How much passive you need to consider fat FIRE?

 

[BoganBob]

What's your strategy to get to fat FIRE?

How much passive you need to consider fat FIRE?

Strategy for Fat FIRE is to just keep farming.

For Fat FIRE, 12k of your finest sinkie dollars pm would be a baller amount in Espana.... Even more so in Portugal or Czechia.....

Current poverty FIRE options are Vietnam, Philippines or Cambodia, so still have as few more years of farming to expand my FIRE options....

What about yourself good sir? You planning to retire in Canuckland or are you planning on enjoying that sweet sweet geo retirement arbitrage elsewhere?

 

[cyke69sg]

Strategy for Fat FIRE is to just keep farming.

For Fat FIRE, 12k of your finest sinkie dollars pm would be a baller amount in Espana.... Even more so in Portugal or Czechia.....

Current poverty FIRE options are Vietnam, Philippines or Cambodia, so still have as few more years of farming to expand my FIRE options....

What about yourself good sir? You planning to retire in Canuckland or are you planning on enjoying that sweet sweet geo retirement arbitrage elsewhere?

Yes I plan to live the rest of my life in Canada at this point.
I am still healthy and earning good income. So I am not ready to completely stop working.
I have been thinking what "retirement" means to me.
Currently I only have scheduled work 1 day a week. I am rather free the other 6 days. I am happy with this arrangement. So I actually do feel "retired". Meanwhile still making good income. I can help farm for my kids.
My goal is to get to the point all my kids can also FIRE. Not just myself which where I am already at.

@BoganBob are you single? Any kids? 12k pm would be for just yourself or with spouse?

 

[trd_charlie]

Yes I plan to live the rest of my life in Canada at this point.
I am still healthy and earning good income. So I am not ready to completely stop working.
I have been thinking what "retirement" means to me.
Currently I only have scheduled work 1 day a week. I am rather free the other 6 days. I am happy with this arrangement. So I actually do feel "retired". Meanwhile still making good income. I can help farm for my kids.
My goal is to get to the point all my kids can also FIRE. Not just myself which where I am already at.

@BoganBob are you single? Any kids? 12k pm would be for just yourself or with spouse?

A good parent lay the path for his children. You're a good parent.

 

[cyke69sg]

A good parent lay the path for his children. You're a good parent.

Thanks.
I look at myself and how my parents told me to study hard and get good paying job etc vs others who spent less times studying and working and investing instead. Guess which one is better?

Hence I think it is easier to just help kids invest a nest egg early in their lives than to ask them to study hard work hard all that rubbish.

Very hard to get rich and FIRE just by working hard and saving. Need to invest.

If my parents had spent more time investing than working and saving they would also have let all of us FIRE way early too.

Since I do have high income the best thing I can do for future generations is to continue adding to the portfolio and growing the payouts.

Snowball effect is real.

 

[junlove]

Thanks.
I look at myself and how my parents told me to study hard and get good paying job etc vs others who spent less times studying and working and investing instead. Guess which one is better?

Hence I think it is easier to just help kids invest a nest egg early in their lives than to ask them to study hard work hard all that rubbish.

Very hard to get rich and FIRE just by working hard and saving. Need to invest.

If my parents had spent more time investing than working and saving they would also have let all of us FIRE way early too.

Since I do have high income the best thing I can do for future generations is to continue adding to the portfolio and growing the payouts.

Snowball effect is real.

This is the effect that makes the rich richer and the entire bell curve disadvantaged for the lower rungs.

Nothing wrong from an individual's perspective. But we do need ppl at the top who think for the betterment of the less-abled, and make productivity vs rewards more reasonable for the society. Rich liao, pls contribute, tks.