How much do you think we would have earned if we have worked for 35 years? Started at 21 and retired at 56, perhaps. Let’s just say that we started at RM2,000 and we retired with RM10,000. For ease of calculation, we use RM6,000 as the mid point. Then, it will be RM6,000 x 12 (months) x 35 (years) = RM2.52 million! Now, who says working cannot make us a millionaire? Ok,ok, we will still need to use the earnings for food, car, property, vacations and many happy hours etc.
No wonder everyone says they have very little actually saved when they retire. By the way, the example as above does not even count what we have in our EPF account and does not count the bonuses and it does not also count all the dividends. This is why it’s so important to keep improving ourselves to get ever higher salary yeah. By the way, if we happened to be promoted to become a CEO one day, the pay may just be many, many times higher… Now let’s be awed by pay of one CEO of the two major airline manufacturer brands of the world.
Article in The New York Times here. Dennis A. Muilenburg, the CEO of Boeing who was ousted last month will be leaving the company with more than $60 million (RM249 million). In a statement, the company said, “We thank Dennis for his nearly 35 years of service to the Boeing Company. Upon his departure, Dennis received the benefits to which he was contractually entitled and he did not receive any severance pay or a 2019 annual bonus.”
Meanwhile the new chief executive Mr. Calhoun will receive a base salary of $1.4 million and be eligible for an annual target bonus of $2.5 million, long-term incentive awards worth $7.5 million and restricted stock units worth $10 million. Besides these, if Mr. Calhoun reaches key milestones including fully returning the Max to service, then he will receive an additional bonus of $7 million. Please do read the full Article in The New York Times here.
Truth is, most of us will never become a CEO of an international airplane manufacturer. We may never become a CEO in our career lifetime. However, as shown from the example earlier, even as a typical senior manager here in Malaysia and our income is within the T20 household, we will retire with many millions of ringgit if we do the right things yeah (Earlier article here: Earn, Save, Invest and Preserve)
It’s time to get hold of the fact that we too have the potential if we did not spend our time away doing nothing much. Example: Never ending ‘Facebooking’ or Korean dramas. Or we spend our money away buying something which will mean nothing much after a couple of weeks. Example? The LATEST model of smartphone. Happy climbing the corporate ladder and achieve a lot more before we retire.
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