Will you leave your present job?
 

If you have S$500K and made another S$1 millions through investing in stocks, will you leave your present job. Assuming that you are 38 years old and the present job don't pay supremely well or command alot of respect.

Of course I will. Care to share how you managed to get 200% return from stocks?

No i will probably continue to work but with a supremely cocky attitude.

personally, i would leave if i have S$1.5M in investments which is able to generate passive income to cover my expenditures as well as capital gain to protect against inflation. life is too short to be spent at a job which gives no satisfaction.

Nope
 

It depends on your current lifestyle and commitments. At 38 you're still quite young, so im guessing 1.5M is not enough to last you a lifetime, especially if you have a family.

Secondly, sometimes investments require some luck. If you happen to buy at the bottom of the financial crisis in 2009, you would have made a lot of money. But if you quit your job now and manage your money, you may not re-produce this kind of spectacular returns. (Just giving caution given that we do not know how you made the 1M)

Thirdly if i were you, i'll quit the current job and find some other job that i enjoy just to receive some extra income :)

Yes. You are correct. In investment, there is always an element of luck. Before making 1 million, I have already some success in reaching 500k. I picked seemingly extremely undervalued stocks that paid hefty dividends (the dividends come from organic growth of the companies) and just hold until they get recognised. My stocks are not restricted to those listed in SGX but all over the world. You have guessed correctly, the latest breakthrough success come from the 2008 meltdown and I am able to to make some.

My present job is the kind that some of you have been grumbling about in this forum, 5k-and-stuck-there the kind of engineering job. I am a flexible person. My lifestyle can change according to situation but I am not attached to extravagant luxuries. I do dream of a better house but am not a fan of owning car.

if ur job is very stressful and long hrs, u may want to move on to less stressful jobs and enjoy life.

if not, then just do ur part everyday in the job. keeps ur mind active too.

no joke but the old man is right, if everyday u dun excercise ur mind, sooner or later u will lose it.

My current job isn't stressful. However, I do have to read alot to get to the high probability investment opportunity. Sometimes, the market is volatile and it does induce some stress. With two jobs, i am actually feeling abit stressful and wonder if the current day job is worth it. As you can see, fetching 5K after 10 years of service doesn't command alot respect.

2 jobs for a total of 5k? why don't you quit and be a full time investor?

the day job is 5k. The investment I am doing is considered a second job. Full time investor, even though I have some success already, I still consider there is an element of luck.....but that is what I am considering, however, since there is an element of luck in it...it is not guaranteed. But, there is nothing guarantee, many people just go out in their mid life and start their own business and strike it big....I am listening to your opinions here.

hi 1973,

i took had some investment made in 2008 but not that much as u 500K
anyway it is depleting.
if u got a good business idea then go and do it, not many people are given
the opportunity and $$ to do it.
u got my support if u got a business idea to do a business
for investment, u are doing great, maybe u can swap it around
full time investment, secondary job own a business venture or work with something.

regards

I don't think I have any good business idea. I am quite a sloppy person. If I am any good, is probably I am lucky enough to accomplish this little in investment.

I am thinking of buying a property when it starts to drop in price abit and then rent it out for a passive income. I am thinking of doing some tuition for extra income....and then my favourite...continue to focus more on investment.

some suggestion...
 

i think you may consider keeping the day job to ensure a steady flow of income, as the outlook for the coming 2-3 years is rather uncertain.

note that if a down-turn is coming, your worth might be reduced to where you have started if your asset is not mostly cash.

meantime, think about what you want to do with a full-time investment-based career. do you want to work for a financial institution? or you want to start your own firm and start managing portfolio for others? i feel that either way, you may need to get some 'certification' in terms of a master deg, or whatever CFA. granted, you may already have some knowledge, but sometimes they might need to see some papers.

property price is sg is unlikely to drop, it would just stop going up. it takes something really 'hard' to knock down the price of property, and by the time it happens, you may not want to buy. but using rental income to pay for mortgage is a brilliant idea. you may want to talk to an expert in the property market to get some info. i hope you have some friends in the field.

J

Thanks J for your kind suggestion.

As the saying goes, when there is great uncertainty, there is great opportunity. I think I see great opportunity within the uncertainty that even Tony Tan capitalised on for his presidential election theme.

There is always a bull market somewhere...

Basically, I am pondering if the job is worth keeping not so much of the steady income. To some of you, a job may be something one can focus on? Or is a representation of status? For my case, I do not think my job represents any social status. Or for some people, the job may be a mean for achieving self satisfaction.

I don't know about any full time investment career in an investment firms...Like what you say, I don't even have the papers. Who want to hire me? What I have in mind is private investment with my own money.

Property is just an idea to diversify some of my wealth. I am not willing to keep too much cash in bank or to investment all of them in stocks. Basically, a million dollars free hold condo at a good location can fetch a 3.5-4k monthly rental. Portion of the money that I do not want to take risk can be in the property.

recession may be coming. With 1 million, and reinvested at a good timing, you probably can make it 2-3 million, then you can retire and live off the rental/dividends of 3 mil.

in an very singapore uncle style of answer,

ayiah u can make so much money it means you are not dumb lah especially since u said u make so much money from stocks..somemore u say u can spot winners ... wa..must be like the oracle of ang mo kio like that...

i dont know if u r just trying to make people jealous or just showinh u make it..but those i know who make money like u said all know how they want to invest.... if not, they will not have made this amount in the first place....

and as for leaving your job... u already know what u want, so y ask.... u mean u really will leave your job if the whole forum tell u to leave meh ? cheah.. it is like everyone tell u to invest the market now, u will invest meh ?

i think u have brains, and some of us here also have.. so dont keep asking lah as we all know what we want.. go and help those whom really need help and stop make the others jealous

not meant to be rude .

I think you do not wish to leave your current job because it is still a steady source of income, albeit it is low to you. In that case, perhaps as you say, buying a property and renting it out can be the best option to keep a steady flow of income.

After a few years when you have paid off the entire cost of the apartment, u can sit back and just collect rent while you do your investing full time. Should work I guess

I am asking the question because there is no definite answer and I want to hear different perspective of what $1.5 millions mean, what a job means and what is life about.

The problem is that $1.5 millions isn't little but it is not really quite alot. Many average professional who make 100k annually can easily make that amount before they reach 50 years old. Another problem is that although I have some experience in investing, I know that it is not 100% guarantee. It is well possible that I may not make a single cents in the next 2 years.

The good thing about my job is that it has provided me with a safe stable income all these years while I work on investment. The problem with this job is that over the years, it start to get more demanding. Moreover, like what I have said, it is not a highly respected job. Actually, it is getting abit unbearable for me. That is why I am considering quiting this job for full time investment.

Maybe, in six months time, I may have 2.5 millions. Then the answer will be more straight forward.

As you alluded to earlier, doing well in investment needs some luck. If you are confident of being as lucky as you have been, then quitting your day job is fine.

People making 100k don't necessarily save the bulk of their income. If they save only 50k per year, it takes 30 years to reach your current level. You are already way ahead in the game, which perhaps makes it slightly easier to decide on whether to keep your day job.

Good luck!

In a few days time, or probably next week, after I make another confirmation, I'll share something here since some of you have requested and even private me.

I don't mind sharing with some of you people here. As I have said, in investment there is no 100% guarantee...but in life, how many guarantee do we get?

I have no job to leave. Just sitting here in my cave.

Thanks and very much appreicate your generosity

A hermit crab? hahaha...

I'm too camping here eagering awaiting 1973's sharing.

Hi,

Since I am not a certified financial advisor, I am not suppose to give any investment advise. The following is my sharing. What to do with it is all up to individual. Please don't come back to argue with me why is this my choice etc....

I am quite confident with my investment. Do not use money that you cannot do without with for at least a year. This investment is suppose to be in and hold for at least half a year. If you do that, I am almost quite certain that you may be quite happy by that time. Short term, the price may move up and then drift down in the next few weeks but there is no guarantee. No body can predict short term or even long term with 100% accuracy. ok...

Market Vectors Gold Miners ETF (NYSEArca: GDX )

I am just in a rebellious mood and wanting to go abit more public.....

A 38 yr old guy who claims he made $1million from stocks suddenly starts a thread in a salary forum to ask a senseless question like "do you think I should continue working even though I have $1m?"

Next thing we know, same guy claims he will be sharing the "secrets" of his success with everybody in a salary forum. So far doesn't seem to demonstrate any knowledge of investment except some generic comments like short term market will fluctuate, only invest in money you can afford to lose, no guarantee etc...

Yea, right. Get real dude.

Last time used to be that snake oil salesman just spam online chatrooms and bbs hoping few suckers will respond. Now they getting smarter, pretend to start innocent topic, hang around make a few post here and there, then coincdentally introduce their products pretending to be "helpful forumer".

Do you think I should leave my job?

My job can be quite free and can be quite busy. No fixed workload. I have the privilege of working from home, travel once or twice a month in the region.

Salary has doubled over past 5 years.

My staff are hardworking and motivated except one or two that needs monitoring.

Only issue is ego is something that needs to forego. Not suitable for someone who has big ego and one who is unable to swallow ego for long.

Guess the main challenge of this job is to ... manage ego.

Usual suspects are MLM, Insurance, Property Agent, Land Banking, Commodities / Precious Metal Scheme, Time Share… I miss out anything?

Spa and fitness packages.

The recent California Fitness brouhaha is quite interesting:
Banned over late $8 fee

Can you provide more detail? Which stock to buy and when is the good time to buy? This will be more fruitful.

Thanks you

This Vectors Gold Miners is currently ~USD65. How low does it consider good time to buy? Besides, this is US stock. Do you have few local stocks with target price to purchase that you can recommand too?

Yar nowadays beauty packages also a lot of aggressive selling.

As I have written, I was waiting for a confirmation signal and this week I got the signal. This stock went up tremendously for more than 2US$ immeidately yesterday I made the post. As I have written, price is likely to rise immediately and may then decline gradually to current level again in the next few weeks and then it will be the firework (i.e. it will rise continuously in the next few months) making huge gain.

The stock as I have clearly written is

GDX: Summary for Market Vectors Gold Miners ETF- Yahoo! Finance

It is US listed. As you can read from all my previous posts, I am only keen with stocks that have the potential to make huge gain in longer term. I am not sure if there is any listed in SGX that pass the mark but I'll pass if I don't know much about them.

If the stock will be doubling in 6 months or 1 year time, does it matters that you bought it at $65, or $60 or $63?

As I said, buy it and hold for 6 months, then you are free to decide if you want to continue to hold or sell.

From the link which you have provided, this stock has been as low as 17.80 in Y08. Currently, it is 65+ which is the highest for it's whole decade. From common sense point of view, it seem like there is room for it to go below 65 instead of going up to 130 in 6 mth time.

Sorry, I am just basing on common sense/ rational thinking.

Please lar every single uncle auntie in the street now is trying to go long on physical gold, gold schemes, gold ETF, gold related companies. You rah rah so much in the end just preaching what the whole world already know.

Make a prediction when exactly you will enter short and long before it happen then we believe you. Tell us I did this I did that last time after results are known got what use?

It is very clear from my posts that I am 100% in (1.5 millions) on the very specific day I made the first post on the stock. It is not a hindsight thing.

On the vey day I made the recommendation, the price was at US$63.5. That very night, when the US market opened, the price shot up more than US$2.

We will monitor this share price as time goes by and we shall see what happened.

Rule #1 when seeking advice. Always look for the silent ones and ignore the braggers.

People who really rich will keep quiet because they have experience that once people know you are rich, all sorts of leeches start hanging around you for money. Only half past 6 morons will keep bragging about their individual trades, boast the wins and keep quiet the loses.

To keep thing short and concise, these share price is high for good reason. Gold and silver prices have made record high but they are not fully reflected in the huge profit growth that will be recorded in these miners in future quarters.

Gap down
 

GDX gap down..$60 now..