Asked 3w ago
TL;DR have extra 2k monthly bonus on top of base salary that will only last 2 yrs, what should my next step be and how can i leverage on this extra monthly bonus?
I would put in effort to ensure I continue getting the extra 2k after it stops. It makes little sense that it would drop after 2 years.
You can use this calculator for a rough budgeting guide:
Afterwhich, you can consider Roboadvisers after you have set aside your emergency funds.
I suggest investing in us/china stocks and sg reits for capital and dividend gains. respectively. If you're financially competent, you can diy your own stock portfolio or u can DCA monthly into robo-advisors like Stashaway for global exposure or Syfe 100%Reit+ for local.
However, u should know that you are not exactly enjoying "leveraging on this extra monthly bonus". The trap is that while u start your first job with a guaranteed extra2k/mth, after 2 years, it DROPS BACK TO 4k. Meaning:
1) While people enjoy career progression moving up the status ladder and having a higher pay/better bonuses year by year, you are stuck AT THE SAME LEVEL as when u first enter as a fresh grad.
2) After 2 years, you'd be 30yo. Maximise your time these 2 years gaining as many skillsets and connections with people as you can. When a better job opportunity comes to you later, you can still have the ability to switch jobs and negotiate for a better pay/package.
3) Also, during your HR negotiation on salary, why was it that the bonuses are 2 years only and your salary remains stagnant?