Quote:
Originally Posted by Unregistered
Sorry to interrupt the flow but i noticed that lately, the last few posts were posted
by those in their 40s to 50s who talk about their properties and net worth and retirement plans. Most of you all have experienced the great appreciation of property prices in the last decade and the cash readily available to go into the stock market in 2009 and during the eurozone crisis, the era when you can buy multiple properties, make millions in banking.
I graduated in 2007, at the peak of the financial boom and whatever savings i have, bulk of which, will be used for my housing, reno, wedding (even more expenses for those who choose to have children). My question is, on behalf of those in their late twenties to early thirties, is it possible and how do you make millions again like our seniors in this forum who own multiple private properties going forward in sg?
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We are not all that old. Just bold enough to buy before 2010, stingy enough not to fritter away our cash and fortunate to benefit from asset price appreciation due to our small island, mass immigration, foreign investment and a strong economy.
Some of my acquaintances in their 30s have multiple condos because they dared to buy before 2010 and are multimillionaires in assets today. But imagine if the financial crisis of 2008 continued they would be in deep trouble now instead of rich. The knife can cut both ways.
Moving forward, I have the same question as u. Would this great price appreciation continue ? My layman guess is no. Then, how can young people continue to build wealth safely and wisely today?