Quote:
Originally Posted by Unregistered
am i underperforming?
50 this year, only earning $100K pa.
managed to do some property investments.
today, i own 3 private properties, with a net worth of $2.2m
am i underperforming? i know some of my classmates are doing much better than me.
what should i do to improve my financial standing?
appreciate advice from any success stories. thank you.
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Firstly for anyone earning just $100k pa to own 3 properties is very rare. So this fact in itself makes you outstanding in your shrewdness.
However, for an individual aged 50, $100k pa is quite low. People are hitting this income in their early 30s.
I can imagine that it must be very tight for you to service the mortgage payments for your properties based on the $100k income, unless they are all fully paid. If they are fully paid, then it is a big achievement that you can be truly proud of.
I don't have any loans to pay, but my yearly burn rate is already more than $100k just to bring up a normal 2 child family with a family car & parents & maid. My household income is $410k pa, and I am your age group.