Quote:
Originally Posted by Unregistered
The guy is 69 years old.
I will tell you how he did it. He invested in Property in Singapore.
That's the only way to do it. And in his generation that's how the doctors all got rich. Don't even need to be specialist. GP also can.
I remember an old time GP telling me how every year he would buy a Terrace house in the 80s. By the 2000s he had over 20+ houses. Each bought for about 200-300k. Can sell for 2m each.
The pay of GPs hasnt changed much since the 80s.
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Very true. One conveyancing lawyer told me when I was buying a place that one GP flipped so many properties that IRAS came after him and he had to declare himself a property trader. He would have to pay more tax then that way.
In US for family holiday now and things like food and property seem more expensive in SF than Sg. Only Macdonald's is similar and more reasonably priced. Makes me more appreciative of our yummy and economical hawker food.
I am only a locum GP and job opportunities r getting worse each year. Thankfully, I made some money in properties. They r people asking me to partner them in opening up new clinics, perhaps should really explore that.
Prepared to retire in Iskandar where I have a house.
CPF life and rental income should help. Go read up about Malaysia My Second Home scheme. As my wise Malaysian uncle advised me long ago, work in Sg snd retire in Malaysia. Costs of living r 2 thirds that of Sg and our exchange rate is 3:1. So go figure.
Actually, I can retire there now in my mid forties if not for my kids and hubby who wants to stay here.
Don't even need to buy s house if u don't want to, can rent. But we prefer owning than renting.