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29-12-2010, 08:14 PM
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Quote:
Originally Posted by under achiever
Age: 34
Single Income: 135K/Yr
Job: Regional Sales Manager
Car loan: 25K (left with 2YRS loan)
Car worth: 60K
HDB EA: Bought 340K (Worth $550K)
HDB loan: 120K (another 12 years to clear)
Savings : Only $20K
CPF: $40K combined
Business Partnership in China: Invested $50K in 2009. NO actual return yet but expected to get my 1st $20K return of profit for 2010. 2011 forecasted profit is $50K
Wife is not working & with 2 Kids. Fixed expenses for house & kids -$3K/mth
Advise please
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your income is definitely above average. $3k expense means you probably can save >$7k a mth? so why is your savings so little?
my only advice is to save more and invest wisely.
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29-12-2010, 08:22 PM
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Quote:
Originally Posted by Unregistered
husband 59, wife 55
both retired
started as fresh grad more than 30 years back,
hard work
accumulated more than 10M, mainly due to properties
best investment : children
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thanks for sharing.
do you think it's possible now to make so much with investment properties?
i understand that when the government liberalized the use of cpf monies for property use, the local property prices went to dizzying heights. and if you had timed correctly and cashed out before the asian financial crisis, you would have made multiple folds given that properties are often bought with leverage.
we are now witnessing again a property boom. i doubt it will last though. the liquidity now is due to USA quantitative easing, which is temporary, compared to the cpf liberalization which virtually created wealth that flooded the market permanently.
what is your advice for the younger generation? thanks for sharing.
-d
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30-12-2010, 01:53 AM
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I have not included car installment, wife's expenditure, she lives as if she's some rich tai tai and not getting a job, I spent average of $1K on food & entertainment
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30-12-2010, 09:39 AM
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Quote:
Originally Posted by under achiever
I have not included car installment, wife's expenditure, she lives as if she's some rich tai tai and not getting a job, I spent average of $1K on food & entertainment
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my wife wants to be a tai tai too! haha...
but i'm glad that she's working to contribute to the family. she even found a 100k-a-year job recently.
-d
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30-12-2010, 11:31 AM
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age: 34
home (freehold landed property): market value 2.0M, loan 0.9M
cash and property investments: 850K
investment funds for 2 kids education: 75K
own income: 180K per annum
wife income: 90K per annum
plan to pay off the home loan in 10 years time and hopefully by then our properties will have increased by at least 50%. i suppose this is the best we can achieve as salaried workers.
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30-12-2010, 12:58 PM
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Quote:
Originally Posted by Unregistered
thanks for sharing.
do you think it's possible now to make so much with investment properties?
i understand that when the government liberalized the use of cpf monies for property use, the local property prices went to dizzying heights. and if you had timed correctly and cashed out before the asian financial crisis, you would have made multiple folds given that properties are often bought with leverage.
we are now witnessing again a property boom. i doubt it will last though. the liquidity now is due to USA quantitative easing, which is temporary, compared to the cpf liberalization which virtually created wealth that flooded the market permanently.
what is your advice for the younger generation? thanks for sharing.
-d
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I doubt u can make so much now. The risk of parking in property now is no longer justified as the risk reward ratio is no longer attractive.
if u look into QE2 carefully, I doubt its effectiveness. HK, US, Shanghai markets are not moving after the QE2, China inflation is very high. I suggest u read articles from Andy Xie, very interesting.
For younger generation, to share how I brought up my girl.
1. read a subject in college of market relevance, of great commercial value and evergreen career.
2. invest in a world class degree
3. find a great employer, of world class standard, eg tier 1 banks
4. ya, train your children in communication
of course, the children themselves must be able to make it.
I suggest, read the "Poor Dad and Rich Dad" book. My children read it when they were teens.
Let your children start early in investment. Give them the seed money if u can.
Dun blame them from making mistakes.
If u register and can give me an email address, I am not so keen to share in public
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30-12-2010, 03:10 PM
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Junior Member
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Join Date: Dec 2010
Posts: 1
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Quote:
Originally Posted by Unregistered
I doubt u can make so much now. The risk of parking in property now is no longer justified as the risk reward ratio is no longer attractive.
if u look into QE2 carefully, I doubt its effectiveness. HK, US, Shanghai markets are not moving after the QE2, China inflation is very high. I suggest u read articles from Andy Xie, very interesting.
For younger generation, to share how I brought up my girl.
1. read a subject in college of market relevance, of great commercial value and evergreen career.
2. invest in a world class degree
3. find a great employer, of world class standard, eg tier 1 banks
4. ya, train your children in communication
of course, the children themselves must be able to make it.
I suggest, read the "Poor Dad and Rich Dad" book. My children read it when they were teens.
Let your children start early in investment. Give them the seed money if u can.
Dun blame them from making mistakes.
If u register and can give me an email address, I am not so keen to share in public
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thanks very much for the advice. i have read Andy Xie's articles. he may sound very bearish, but i agree mostly with his thoughts. we seldom hear such logical arguments from mainstream news. as an aside, i believe you know that he got himself into some trouble here in singapore.
i've already read the kiyosaki's books.
your points 1-4 on bringing up children are priceless.
i'm keen to learn more from you. that's why i've registered. can you click on my profile and send me a pm? thanks very much.
-d
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01-01-2011, 10:38 AM
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What's comfortable income in Singapore???
Hi...I read in the early parts of this thread that with a net worth of about SG$ 500k, the person still considers himself poor?? What's the annual income that you guys consider that is comfortable and what is the net worth that you would consider rich? Thanks...
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01-01-2011, 10:49 AM
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Quote:
Originally Posted by Unregistered
Hi...I read in the early parts of this thread that with a net worth of about SG$ 500k, the person still considers himself poor?? What's the annual income that you guys consider that is comfortable and what is the net worth that you would consider rich? Thanks...
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for me, 100k income is quite comfortable, 200k more comfortable.
5-10m net investable assets will be good.
with 10m, a mere 3% return will give me 300k, enough to be more than comfortable for me. many stocks and 99-year condos give more than 3% yield.
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01-01-2011, 11:05 AM
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I haven't tried buying stocks yet...which financial institution should I go to who can help me buy the right stocks? And which banks in Singapore can give a better return on savings? Not savings account but investment vehicles who can give a safe , reasonable return? Thanks much.
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