Quote:
Originally Posted by Wiseman1
My dear friend, dont worry, you are the only honest chap here, alot of the clowns here are bull-shitters....grossly inflating their wealth to make themselves appear good.....silly losers
I make 200k a year, am in my mid 30s, am still servicing my housing loan of 400k plus. I have cash balances of around 250k, but if I were to pay up my housing loan fully now, I would have no more cash left.
The point here is I did not make 200k annually right from day 1 of working, but only achieved this level nearer to mid 30s, so there is no way I can have the kind of cash balances that the folks here brag about, yet they are saying they make 200k a year income. (unless they are super high-flyers and drawing 6 figure annual salaries right from day 1 of work???)
You do the math, this is not rocket science, these guys are talking rubbish and blowing their own trumpet.....
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if you maintain the level of 200k income, in 5 years you would have earned 1m in income. spend half of it (100k expenditure per year is a lot by my standard), and you'll still have 500k before 40 years old. invest at 10% return, that's another 100k.
i know someone will then counter with the inflation argument and price of rice from thailand and so on, but inflation affects everyone. so in terms of wealth, you're still 600k better off than most people who don't save.