This is absolutely true. A responsible man will ensure he provides for the family but sometimes luck may not be on his side. In this case, I'm sure he is a good guy who got retrenched because company wants to hire cheap workers. Just too bad, this is the fact of corporate life. But all is not lost. He still has a high net worth. The wife must be understanding and must stand by him when he is down. He has provided for her and kids for a long time, paying for the condo and car. She must appreciate this and not just demand.
If she is a good wife, she should be supportive. She must appreciate the many good things he has provided for. Anyway, he is a multi millionaire. If she still wants to live in the condo, she must be happy with his passive income of $40k. The fact is his $1m investment portfolio and his condo's value will surely go up in the long run, so he has provided her with retirement certainty. So, in the mean time, she should just be happy to spend a bit more for the family until the kids are grown up and independent. It is just a small sacrifice which all good wives will do for her husband and family. No big deal.
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Originally Posted by Unregistered
Your problem is actually not financial but more of emotional in nature. Assuming you own the condo in full and it is worth say $2m, then with your investment portfolio, your net worth is at least $3m. Not many people has such high net worth. What you need to overcome is your low self esteem. Don't think too much about it. Tell yourself that you are retired or semi-retired. Your wife is working not because she has to but she wants to. She can stop working is she wants to but she just have to adjust. Tell her that you are a millionaire with $3m net worth and if she stops working, you need to sell your condo and live in a 4 room HDB flat costing $500k. You can then have $2.5m of investment portfolio and with a conservative return of 5%, you can earn a passive income of $125k pa. So, if she still wants to live in a condo, she has to continue working to contribute to family income. |