How much are you earning per annum?

I think you're jealous of him. Just admit. Why did you keep saying he's unemployed? He said he works for himself. He is financially independent. Grow up please.

Originally Posted by Unregistered

Aiyoh, you guys, being unemployed at a young age is not something inspiring nor something to be proud of.

That is not to say it is impossible for a young person to be very successful in doing business. There are many young people who did make good when they are young, but very few, if any, would retire.

To quit when young after making $1m - $2m through working for others is very risky. If you are single, you are only responsible for yourself. Then I say, you go ahead and do what you want with your life.

But when you have a family with young children in tow, it would be an irresponsible thing to do. At 46, you have yet to see your expenses peaking. There are still many unknowns that can upset your financial plans.

That's for the guy who is unemployed.

Now, for the other guy who blindly respect people who quit their jobs without knowing the details behind it, I can only conclude either you are the same guy as the unemployed guy, i.e. praising yourself, or you are just happy to see people being unemployed.

The company benefits are there to ensure the employees well being. They are there because the company value the employees and need their services. How did it become the case of a dog pandering to its master?

Aiya people want to worship some nameless joker on the internet let him lah, at least this time he used "I'm inspired by you" instead of "we are inspired by you". Since its plural that's his call lol.

Originally Posted by Unregistered

What exactly do you respect him for?

He didnt divulge any useful details other than that he is unemployed and managing his "multi-million" (which could be anything from $2m upwards)

In this day and age, $2m doesnt go very far especially when you are 46 and has a long time horizon to live out.

Most of the things he said he was doing eg. buying stocks and holding them, reading reports and attending AGM -- are what many working professionals can also do without quitting their day jobs.

For example what income tax is he paying? What is his passive income? Could be less than $100K pa.

Many other posters here have hit that figure and are still happily working.

Originally Posted by Unregistered

I think you're jealous of him. Just admit. Why did you keep saying he's unemployed? He said he works for himself. He is financially independent. Grow up please.

Clearly, he is envious and jealous of the young multi millionaire. He has a dark, impure heart.

me age early 40s,working and living overseas with my whole family, Singapore equivalent salary S$142,000 PA (after Tax) exclude bonus 2 - 4 months

Passive income S$28,000 per annum

Total expense S$60,000 per annum

Estimated Net Savings per annum S$120,000 - S$ 140,000

This forum makes me realised there are many rich people in S'pore.

My definition of "rich" is anythink above $10k/mth...maybe cos i am a low income earner

I take home $10k pm and I don't feel rich.

There are many more who take home $20k pm easily.

You brought up a good point. Long gone are the days where earning $5k a month makes you a top earner.

Things are a lot more expensive now especially if you own or aspire to own a car. I remember a time when condo prices were $500 psf, now the base seems to be $1k psf.

But you see car sales are still healthy, condo prices are holding up, and thus you can only conclude that people's earnings / salaries have also gone up. Although they may be earning much more than their parents, they don't find or feel that they are richer.

But there are some people who seem stuck in the old mindset. They benchmarked backwards to their parents' time where the cost of living was lower and concluded that their savings were enough for them to retire young.

They don't seem to be aware that when salaries rise, prices of goods and services rise with it. This is inflation.

So, in 10, 20 years time, their current savings $1m -$2m savings will become inadequate to sustain their lifestyle and they have to downgrade. Trying to find employment when you are 60 is going to be "interesting".

Originally Posted by Unregistered

I take home $10k pm and I don't feel rich.

There are many more who take home $20k pm easily.

Originally Posted by Unregistered

I take home $10k pm and I don't feel rich.

There are many more who take home $20k pm easily.

Feeling rich is a state of mind, not based on a figure. If you compare based on figures, there will always be someone out there who has a bigger number than you.

How true. I still remembered my uncle telling my family that he will buy a Merz when his pay hit $5K a month. Mind you that was 27 - 30 years ago.

Really cannot imagine people nowadays dare think of buying any car with just $5k per month salary.

Originally Posted by Unregistered

You brought up a good point. Long gone are the days where earning $5k a month makes you a top earner.

Things are a lot more expensive now especially if you own or aspire to own a car. I remember a time when condo prices were $500 psf, now the base seems to be $1k psf.

But you see car sales are still healthy, condo prices are holding up, and thus you can only conclude that people's earnings / salaries have also gone up. Although they may be earning much more than their parents, they don't find or feel that they are richer.

But there are some people who seem stuck in the old mindset. They benchmarked backwards to their parents' time where the cost of living was lower and concluded that their savings were enough for them to retire young.

They don't seem to be aware that when salaries rise, prices of goods and services rise with it. This is inflation.

So, in 10, 20 years time, their current savings $1m -$2m savings will become inadequate to sustain their lifestyle and they have to downgrade. Trying to find employment when you are 60 is going to be "interesting".

Originally Posted by Unregistered

This forum makes me realised there are many rich people in S'pore.

My definition of "rich" is anythink above $10k/mth...maybe cos i am a low income earner

In this forum, there are rich people as well as people who are jealous of the rich. The latter are losers.