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Originally Posted by SAHM
Firstly, I am very impressed by some of the investment talk in here. I used to work as. Finance professional before I left the workforce to be a sahm. My husband is a legal professional who is working toward that one million dollar salary but is currently at only half that level. I was rather hesitant about spilling my financial details here but would love so much to obtain advice from the multimillionaires, as I aspire towards financial independence but am nowhere there yet. I am in my early thirties and my husband is in his mid thirties. I made a million sgd through property from 2004-2010 but has invested it in a landed property in 2011. I am 60 percent leveraged in this property which is also my primary residence.
Recently the bank from which I had obtained the loan, offered me cash of 1.3m since my property has risen 1m in value over the past two years and it is willing to gear me up to 80 percent. This would be our only loan because we have paid off our student loans and have no other property. My husband makes 500k sgd base salary a year. We have additional 300k in cash.
I am thinking that this 1.3m loan will come in handy in US equities now. I know I am nt very diversified like many of you here, and my investment strategies would be considered very aggressive by most of you as I put heavily in one or two stocks. I do consider a lot - both fundamentally and technically before I put in the buy. Would you recommend I take up this funds into equities? Should I even take up this offer to further leverage my home?
Thank you lots for your replies.
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I wanted to add that the reason we only have 300k in cash right now when my husband is making 500k is that we recently bought a property overseas paid up in cash for my mother-in-law to live in. That's not a property we can sell at will and it's solely for consumption so I will leave it out of the equation. My husband also recently got to this salary. His earnings had risen steadily from 250k through 400k the past years. His 500k salary would stay for the next years unless he makes a breakthrough in his career and gets the million dollar package. I wouldnt bank on that for our financial independence plan though.