I do not see much of an issue for you. In fact, you have already achieved financial success. What you and your wife need to do is to maintain your lifestyle such that you have surpluses every year until you both reach 65 years old.
Your assets:
1. A fully paid condo. Assuming this condo is now worth $1.5m (the average value of a condo in Singapore). This condo will surely appreciate in value over 20 years and will be worth at least $3m in 20 years time.
2. A $1m investment portfolio. This portfolio, if managed carefully, will be worth $2m at least in 20 years time.
3. If your family can save $60k a year, in 20 years time, you will have an extra $1.2m cash.
So your grand net worth total in 20 years time will be about $6.2m.
Better for you to take a lower risk of managing your investments rather than going into high risk business ventures, which will likely make you lose all your hard savings of $1m.
Perfectly alright to be a house husband who takes care of your children to grow up to be scholars.
With $6.2m in 20 years time, if you want to live like a king, you can retire in Malaysia. When you convert $6.2m you will get at least RM15m.
All the best.
Quote:
Originally Posted by Unregistered
Need advice. What should I do?
Hi, I used to be a corporate executive, earning $200k pa. But I was let go due to down sizing. I had a good severance package and with my savings all these years, I am able to invest, earning me a passive income of $40k pa. However I feel inadequate as my wife earns more at $120k pa. As a man, I felt that I should earn more or at least on par with my wife.
Should I liquidate my investment and set up a food business? I have no experience but my friend is willing to partner with me. This option potentially can give me an earning of $150k pa, but the risk is there. I could lose all my money if response for my products is not good.
As for searching for a job, I have done this for many months but not successful. I am either too old or overqualified. I thought of driving a taxi but my wife is against it as she feels embarrassed with our neighbors and relatives. My wife said that she is actually ok with me not working as I do still bring in income of $40k pa and I have paid off our condo mortgage and car loan. Also I have a $1m investment portfolio which will fund both our retirement. Her investment portfolio is only $100k. She said what I can do is to stop the maid's service and then I do most of the household chores and also ferry her and our kids around and coaching the kids. By not having a maid, our household expenses in total will drop to $100k pa. So as a couple, we can still save $60k pa.
What should I do? Follow my ego and do the food business - potential higher income for me but higher risk or follow my wife's idea - lower income for me but lower risk, become house husband (ego down the drain). What should I do? What would you do?
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