Monday, 11 April 2016

Paying $8,225,240 For Early Unemployment

$8,225,240 are our opportunity cost, to live-better at 37 years old. Here are the workings based on Singapore's median household income at 3% increment yearly, from 32 years old when I no longer work for more money :

Age
Median Household Income In Singapore (Monthly)
Median Household Income In Singapore (Yearly), Inclusive of 3 Months Bonuses
Daily Time Regained [(8.5hours x 5 days) + 2 hours Travel Time + 1 hour Over-Time] - Hours
Yearly Time Regained (Est 251 Days) - Hours
2 Persons Yearly Time Regained - Hours
32
$8,666
$129,990
11.5
2886.5
5773.0
33
$8,926
$133,890
23.0
5773.0
11546.0
34
$9,194
$137,906
34.5
8659.5
17319.0
35
$9,470
$142,044
46.0
11546.0
23092.0
36
$9,754
$146,305
57.5
14432.5
28865.0
37
$10,046
$150,694
69.0
17319.0
34638.0
38
$10,348
$155,215
80.5
20205.5
40411.0
39
$10,658
$159,871
92.0
23092.0
46184.0
40
$10,978
$164,667
103.5
25978.5
51957.0
41
$11,307
$169,607
115.0
28865.0
57730.0
42
$11,646
$174,696
126.5
31751.5
63503.0
43
$11,996
$179,937
138.0
34638.0
69276.0
44
$12,356
$185,335
149.5
37524.5
75049.0
45
$12,726
$190,895
161.0
40411.0
80822.0
46
$13,108
$196,622
172.5
43297.5
86595.0
47
$13,501
$202,520
184.0
46184.0
92368.0
48
$13,906
$208,596
195.5
49070.5
98141.0
49
$14,324
$214,854
207.0
51957.0
103914.0
50
$14,753
$221,299
218.5
54843.5
109687.0
51
$15,196
$227,938
230.0
57730.0
115460.0
52
$15,652
$234,776
241.5
60616.5
121233.0
53
$16,121
$241,820
253.0
63503.0
127006.0
54
$16,605
$249,074
264.5
66389.5
132779.0
55
$17,103
$256,547
276.0
69276.0
138552.0
56
$17,616
$264,243
287.5
72162.5
144325.0
57
$18,145
$272,170
299.0
75049.0
150098.0
58
$18,689
$280,335
310.5
77935.5
155871.0
59
$19,250
$288,745
322.0
80822.0
161644.0
60
$19,827
$297,408
333.5
83708.5
167417.0
61
$20,422
$306,330
345.0
86595.0
173190.0
62
$21,035
$315,520
356.5
89481.5
178963.0
63
$21,666
$324,985
368.0
92368.0
184736.0
64
$22,316
$334,735
379.5
95254.5
190509.0
65
$22,985
$344,777
391.0
98141.0
196282.0
66
$23,675
$355,120
402.5
101027.5
202055.0
67
$24,385
$365,774
414.0
103914.0
207828.0
Total:

$8,225,240
207,828 Hours

We are paying $8,225,240 for 207,828 hours, which is 23.72 full years of our most productive youth. Worth it? You mean our precious youth only worth Singapore Dollar $8.2 millions? You must be crazy to put a price-tag on human life!

8 comments:

  1. Frugal Daddy,

    "You must be crazy to put a price-tag on human life!"

    LOL!

    It will be interesting to see how many are able to read your post "correctly"?

    ReplyDelete
  2. Hi FD,

    Sometimes until we are looking back when we are old, it is not as easy to interpret what is true happiness for many people.

    Even Steve Jobs who believed changing the world is his true happiness in almost his entire life, eventually realise that is not so important.

    Maybe Balance is the word! Tilting too much either side of Work or Life is not good IMHO.

    Ur 8.2mil is nominal. Frankly the median increment rate of 3% and 3 months bonus, I am not too sure if it is ever correct for Singapore anymore.

    The past growth is definitely not the future for Sg as we are reaching a more developed stage for a country. Just look at the salary growth rate of Europe!

    So maybe u r paying less eventually! So more worth it!

    ReplyDelete
    Replies
    1. Hi Rolf

      Been a while, good to see you around!

      My headstart is exactly knowing what I want. Balance is
      Extremely important in all things, but I don't think I have enough of my freedom. 80-90% maybe is a good balance. It is my precious life, don't think I can live eternally. :)

      Hmm, I still think this 8mil is about there as household income. Time just can't be replaced by excessive money. What is excessive? Everyone got different definition

      Delete
  3. Wow FD - interesting table, I wasn't in median pay to start with so my base must be lower.

    But then again, to different people 8M can mean different things... depending on how we spend, we may never really need that much. So ya, why burn your life away too hard, I am on the same page too! For now, I am very contented with the bank give me $80 interest already!

    ReplyDelete
    Replies
    1. Hi Ellaa

      Because you haven't reached the median working age when you say bye bye to the corporate world. So it is fair :)

      $80 a month? That is a good sum already!

      Delete
  4. See, everyone can be a millionaires many times over! Haha.

    ReplyDelete
    Replies
    1. Hi Lizardo

      If most people don't spend a single cent, most can be millionaire I guess. Haha

      Delete