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Old 07-05-2017, 07:43 AM
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How to understand when you dont provide numbers?

You may have only allocated $100k per child for their education and if they are only in their early teens now, you will find to your shock, that it is not adequate when they reach uni age. And if they have to go overseas for uni education, then it could be easily $500k per child by then.

If your passive income is less $100k now, it is definitely not going to last the distance.

We have heard of people who worked in the FINANCE industry and who were retrenched and are now driving taxis or are Uber drivers to survive. A former senior banker even appeared in the news with his sob story, but what was shocking was that he was only earning below $14k pm. That is hardly top salary.

Do provide numbers and we can help you check your blind spots, although it may be a bit late now.

Quote:
Originally Posted by Unregistered View Post
1. My children are not very young, their education fund already set aside.
2. My parents are well off to take care of their own needs including medical.
3. I'm not fully retired from work. I'm semi retired, still generating income.
4. I've built enough fortune. I worked in the FINANCE industry.
5. I earn passive income from my investments.
6. Finances is not a worry.

Hope this is clear enough for you to understand.
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