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Whats your net worth

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  #21 (permalink)  
Old 04-02-2010, 01:02 PM
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yo, lots of people can't write properly and can't speak properly but are making millions. richard branson is one (he can't read/write well). if you need local examples, there are just too many...

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Originally Posted by Unregistered View Post
im sorry, but this does not sound believable, graduated in the UK with a degree? VP level huh?

kindly fix your grammar first before I get to believe in your millions...in the corporate world, the way you communicate your thoughts does not even meet the associate level.

unless your really lazy to fix your language properly.

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  #22 (permalink)  
Old 04-02-2010, 02:19 PM
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I think what he said is perfectly believable.

I had friends who graduated from Engineering degrees from UNSW, USYD and UMELB

An example of one of my best friends
1st Job 55k, 2nd year 65+, 3rd year, 80k
4th year quit = relax, sick of working in those big4 firms. This is in aussie btw.

5th year = headhunted to head HK office 100k+

7th year, in SG as CEO of a small hedge fund/investment house, 400k+ not incl bonuses and commissions.

He still rents a very nicely renovated HDB with his wife. No condo, no car - he said he doesnt need it in sg.

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  #23 (permalink)  
Old 04-02-2010, 03:19 PM
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oh, really now! hedge funds huh! and you said a small hedge fund?

how small is the NAV, say 20M?

remember that hedge funds earned only from the NAV of the fund, the management fee, of which the normal going rate is 2% p.a.

so let's compute:

20M x 2% = 400K

so this is the only income of the Fund, ofcourse, other than the performance fee, which is solely base on the increase in NAV, of which part of the bonus.

as you were saying that his 400k per annum is just his basic, you may think twice in saying that his salary is 400k p.a., is he running the hedge fund on his own? nothing else to pay? just his salary???

and a 7 year experience guy running a hedge funds??? who the hell will invest into such??? oh well, you said it, i dont think il believe it.

and yeah, CEO term is not common for hedge funds, they are called Directors, and the highest ranking guy is the managing director. and another thing, hedge funds Director discusses their YEARS of experience in their PPM, I dont think a 7 year guy is capable to be placed as a managing Director, if this is the case, i dont think their NAV will even be more than a million dollar, for i dont think qualified investors will trust their money with an inexperienced director.

review your facts again, i might believe you in your second try.



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  #24 (permalink)  
Old 04-02-2010, 04:46 PM
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sorry, last comment was re 1.6m response...

the thing is singaporeans been brainwashed into accepting low income 2k, 3k a month etc. cos govt so good, build good roads, schools, hospitals etc. but ministers earn $2m...

firstly, dont start your 1st job 25, lmao, by that time i was heading for VP.... first job was 21 in europe, about 60k, headhunted at 23 for 90k, promoted to VP at 26, 130k+50kbonus, then a few good years at 250k-300k (dotcom boom), took a lifestyle break (50% paycut, 200% life back) headhunted again 400k+ a few years there.

spend like crazy, yachts, parties, $500 wine, cars etc, and had to pay 30-40% tax, but still stockpile some good cash, got some dosh from buy/sell 1 bed flat, and stocks, not much, never got real lucky, but now heading to 2m cash age 36. i remember i had zero dollar age 22.5, paid off all debt and had to defer my credit card bill by 2 weeks to wait for wage, but after that, it just grew... made all my own money...

key to get rich/comfy is not to save and be frugal, but spend the time making money, investing, analysing...for the same time you save 1 dollar, i'd have made 5 dollar. just look at the top 5 biggest expense you have, and forget the rest...you're not going to get rich deciding whether to take a bus or a taxi... you need to spend money to make money...
Highly plausible.

I graduated when i was 25 from SMU.

First job paid me 60k pa. Hopped and second job paid me 90k pa. Hopped and third job paid me 120k pa. Hopped and 4th job paid me 180k pa.

Now my fifth job pays me about 250k pa.

And I'm only 27 now. Headhunter just called me and a foreign bank is asking me to lead their team with a 450k pa package.
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  #25 (permalink)  
Old 04-02-2010, 06:03 PM
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Originally Posted by Unregistered View Post
Highly plausible.

I graduated when i was 25 from SMU.

First job paid me 60k pa. Hopped and second job paid me 90k pa. Hopped and third job paid me 120k pa. Hopped and 4th job paid me 180k pa.

Now my fifth job pays me about 250k pa.

And I'm only 27 now. Headhunter just called me and a foreign bank is asking me to lead their team with a 450k pa package.
Are you in FO or MO?
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  #26 (permalink)  
Old 04-02-2010, 11:33 PM
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Currently 37 and have been working since 24.

1st job ~ 25K annual
5th job (current) about 320k

Currently have cash $1m, stocks $50k, 1st property ~$2.5M (loan $1.6M), 2nd property ~$2M (loan $1M).
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  #27 (permalink)  
Old 04-02-2010, 11:43 PM
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thanks for the guys who believed...and for 12:16pm who does not, you are exactly the person I am referring to....don't know the real world, head stuck in sand like ostrich, i dont need to lie, cheat to anon chat, plenty of people at work i can do that to...

btw, before you attack my grammar, i speak 6 languages inc french and german, paid tax in 4 countries, and can write a legal contract in half the time u do and three times better. just trying to be friendly and speak local talk talk..

anyway, just saying age 20s, 30s people, if it is money you want, you can find big bucks..or you can demand big bucks...if you are good.

but money is not everything...i give charity a lot, 4, 5 figures, have a lovely girl and home life, cook great food, go to movies, take the mrt, eat at kfc etc. do what you do and generally try help the world. i find sg people very into dollar...i think you have truly found life when u realise good life is not just about $$$, but happiness. i am very happy...not bcos i am comfy with my dollar, but bcos i feel i have achieved something and still achieving.

i have skills, which helps...i can make 5k a day playing poker ripping off noobie chinese tourists, so sometimes i do wonder why i am working...but bcos it keeps me busy and my brain active...and we all need a 'normal' job...wear a suit tie etc.

yes luck does have a part to play...people who joined goldmans etc, got paid out 700k one year, i mean 22 yr old grad, common, what the hell do they know about biz? but you got to look at what they did to get there.

i got lucky age 26...walked into US dotcom boom...didn't do anything much, but got paid 250k and thats USD. think omg, but then the guy next door age 29 prob got 500k. my luckiest break...i bought a website for 100 bucks, age 21 and sold it to NY brandname for 50k a year later...wrote all my own contract, hire own escrow, couldve got 100k really.... 12:16pm do you have this skill n foresight?

anyway SG local pay is pretty bad, and as i said, people accept it as a fact. locals get 2k, 3k, foreigners get 10, 20k...what i see between local/angmo isnt' much difference ...just born and educated in da wrong place...

so be happy, keep looking, keep asking...i met a guy today, no degree, did NS, army for few years, age 33 and today, he sold his private jet for $8m...prob not 100% legit but hey, how did he get there? lots of luck, lots of sweat, lots of balls.... you know how when u get there...

PD
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  #28 (permalink)  
Old 05-02-2010, 01:06 PM
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I started this thread to compare networth and if you are generous enough to share how you achieve it, that will be better. Try not to add your own opinions in your post, and try not to sound too braggy, because the purpose of this thread is not to showoff. What works for you does not mean it will work for others.

There is no way to tell if the poster is genuine in his words, but then again, so are words from people you know in real life. I will just take it with a pinch of salt. After all, anything is possible in this world.

To those who posted false info here, get out of my thread, you are not welcome here. Use your time to make some real money, instead of bragging in this forum about your false wealth.
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  #29 (permalink)  
Old 05-02-2010, 05:15 PM
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How about you start the ball rolling on the boldfaced part.

Quote:
Originally Posted by Avatar View Post
I started this thread to compare networth and if you are generous enough to share how you achieve it, that will be better. Try not to add your own opinions in your post, and try not to sound too braggy, because the purpose of this thread is not to showoff. What works for you does not mean it will work for others.

There is no way to tell if the poster is genuine in his words, but then again, so are words from people you know in real life. I will just take it with a pinch of salt. After all, anything is possible in this world.

To those who posted false info here, get out of my thread, you are not welcome here. Use your time to make some real money, instead of bragging in this forum about your false wealth.
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  #30 (permalink)  
Old 05-02-2010, 09:48 PM
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Erm. About 30k after subtracting mortgage, car etc... nothing much compared to the rich folks here, so I guess I don't need to share how =P Just glad to have exited negative territory =)
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