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Good life plan after graduating Waseda MBA

Introduction

I have five family members including my mother, my wife, my son, my daughter, and me. When I started my MBA journey at Waseda University, my wife and I dreamed the bright future after the graduation. During the course, I have learned about the important knowledge for both my career and my personal life, such as accounting, financial analysis, profitability analysis, and international business environment. Before the graduation, I tried to calculate the living cost of my family in Singapore since I would like to get a job in Singapore. Based on this estimation, I will estimate my proper salary level not only in order to support my family, but also in order to prepare my retirement. Therefore, I strongly believe that I will have to search a job and negotiate the salary level.

The calculation of the profitable salary level in Singapore

On day, I tried to discuss about the current financial situation of my family with my wife after the class, because this information is helpful to increase the accuracy of the projection of my future salary.

Me: Honey, Do you explain our living cost in terms of annual and monthly? Actually, as you all know, you and I want to stay here after my graduation. Well, I need to start my job searching and this is very useful in calculating my expected salary level.

Wife: Hmm, Are you crazy? It is so hard to say that in a short time because I need to review our financial situation in Korea, also. Ok, I just speak about the elements and you calculate those, OK?

Me: Sure, Sir!

Wife: Let me see! I would like to live in a beautiful condo. So, current rental fee is monthly about S$3,500. Also, we usually spend S$600 per month on the primary school tuition fee of our lovely kids. Well, I pay monthly S$150 for TV, Internet, and telephone. OK, utility fees including gas, electricity, and water is about S$500 per month, but it is variable. Also, we spend almost S$2,000 excepting the previous described elements. What else?

Me: Wait a minute? Why don’t you consider the payment for our loan and insurance in Korea?

Wife: OK, We have to pay monthly S$1,000 for our 20 years loan and S$300 for our insurance.

Me: This is our living cost. So huge!

Wife: What? This is your decision. Wait, where is your tuition fee during MBA?

Me: Honey, it is a sunk cost. It is not related to our future living. Please forget it!

Wife: Do not use MBA term any more in front of me! So, what’s our next step?

Me: Sorry, we need to do sensitivity analysis in order to identify what