5 reasons why PMET who took 30% pay cut is thankful (UPDATED).

This is an email from a 37 year old PMET, sharing his experience and thoughts on getting a pay cut:

Reader says...

I recently took up a job offer that pay me 30% less than my previous employment.

I had to look for a new job as my current job is in the oil and gas industry and the office in Singapore might be closing soon.

The new job is much more stable and in view of slower growth in Singapore going forward and me hitting 37, I decided to settle for this job. 

So many stories of PMET with no job I am worried.






Retrenchment On The Rise.

From here, finally I realize and understand what you say in your various blogs. 

Let me highlight a few:

1) My job in the oil and gas sector pays me well. I admit that they are over paying me for what I am doing currently. Hence, I have enjoyed the good years and looking back no regrets.

See:
Find a job that pays you at least what you are worth or better if more. 





2) However, as I have more than 6 months of emergency funds, I was quite relax about this and could take my time to look for a job. 

Just to share, I started looking actively for a new job for 4 months and I only have 2 interviews so far. 

This tell me the economy is not good. 

I realized the prudent habit of myself finally was useful here.

See:
Taking a 30% pay cut is a lot but... 






3) I think you mention before in your blog that even if you don't invest but live prudently, you will not be in a too bad shape if something drastic happens. 

If I no emergency funds then I sure stress. No peace of mind!

See:
Attributes of a wealthy peasant.

4) I have no debt or loans to pay. This gives me peace of mind too.


See:
Becoming richer!






5) I have dividend income from my stocks & REITS. Income investing is important.

With the pay cut, I definitely need to watch my expenses even more but this will not kill me. 

I cannot imagine if I have over stretch my finances what is going to happen to me?

I just like to share and hopefully people will be aware and be more vigilant on their finances.

Lastly thank you for your blog and I have learn so much from you.

See:
Best insurance in life!





Related post:
Holistic approach to a secure future.