Early Career Journey
My career path was unconventional. I only began full-time work in June 2017, at the age of 27, after completing polytechnic, National Service, and a four-year university degree. Hence, my asset accumulation only started in June 2017.
Starting Out in the Public Sector
I was fortunate to graduate with first-class honors from NTU and secure a public sector role. My starting salary was relatively high compared to my peers in the private sector of the same academic background. My degree is one of the worst paying one in the market. Hence, going into a role that only require any degree was a great advantage to me. Between 2018 and 2021, my annual gross income ranged from approximately $85K to $95K. With minimal expenses and a focus on saving, I managed to put aside a significant portion of my income. However, I missed out on the opportunity to invest during the stock market boom, as I was blinded by the ability to spend back then.
The Impact of COVID-19
The COVID-19 pandemic brought new challenges. Overwhelmed and feeling overworked, I decided to leave my job without another lined up—something I wouldn’t do in hindsight. Due to my specialized public sector experience, finding a new role was difficult. Eventually, I secured another public service job, though with a noticeable pay cut. Later, I transitioned to a different role in the private sector with a higher salary, but the overall bonuses were considerably less.
Income Plateau
Since 2021, my annual gross income has been steady at around $75K to $80K. This reduction in income was mainly due to the lower bonuses in my subsequent roles. In my first job, I received substantial bonuses—including mid-year, end-year, performance bonuses, and AWS—which amounted to an additional 6 to 8 months of income each year. My current role does not offer such benefits.
No Regrets
Despite the reduction in income, I have no regrets. My current job allows me to work from 9 AM to 5 PM, without the need to bring work home or engage in after-hours activities. This has significantly improved my mental health and given me valuable time to spend with my family and kids. In hindsight, the trade-off has been more than worth it.
Conclusion
Looking back, while I may have missed some financial opportunities, the decisions I made allowed me to focus on what truly matters—time with my family and maintaining a healthy work-life balance.
Hence, I am now building my passive income portfolio with the aim of achieving F.I.R.E. By focusing on smart investments and diversifying my income streams, I hope to create a sustainable financial future that provides both security and the freedom to pursue the life I envision. My journey continues, but the foundation I’ve laid gives me confidence in reaching my long-term goals.
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