Quote:
Originally Posted by Unregistered
Like I said previously,
"2 overseas. 5 in sg.
There were few years I made 500k per year. But last 3-4 years, not so good. Hope the time will come again but I doubt it."
But all these didn't come easy. A lot of sacrifices. I am slowing down after I became a father.
My Wife too.
I think most of you who came to this site is looking to improve your life. There is no right or wrong way.
I believe luck plays a big part.
Invest within your means. I don't believe in big bets. I don't stomach risk well.
I paid off 4 before buying the current 3.
I have set aside enough to pay off 1.5 of the properties. But main thing is to buffer against economic downturn.
Anyway, good luck everyone in chasing your dreams!
I will update in 5 years time.  |
The questions from the other posters are quite valid. The numbers do not add up at all. For a HHI of $100k, how do you support your lifestyle with property loans and other household expenses and children's education? With 5 properties in sg, your property taxes must be quite a bundle, not to mention the maintenance fees, sinking funds contribution and repairs etc..
My children are already working, and we have no more loans, our current household expenses (excluding income tax) is still more than $100k pa. Granted we have a car and maid.
If your HHI is just enough for your yearly expense dont see how you can grow your networth to hit your target, whatever that is.
Our networth growth projection is based on our yearly savings rate, the rate of growth in the savings rate. At this stage of our life, our financial commitments/obligations are next to nothing, while our savings rate is accelerating. It used to take us 6 years to save up $1m, steady decreases to 4 years, then 3 years and is now done in 2.5 years.