How much are you earning per annum?

Thanks for your thoughts. If you are in my situation, do you mind being a house husband doing the household chores? So your contribution to the family are passive investment income and in-kind services (replacing the maid's job). Is this ok for a man? Is it less manly and a shame?

Originally Posted by dives

At your current situation as to you mentioned you find it hard to find similar job that pays well.

So you want to risk all you have (eggs nest) in a business you know nothing to triple your income? And if that doesn't work then what? I am not sure about you but if my business partner doesn't stump up at least 50% its a no go for me.

If you wanna play with say 200K I think that's reasonable, danger if the business flounders you might attached to pump in more cash.

My perspective is you do not do it, simply because if thats all you got failure is not an option. Sometimes when you're not working and you have money lying around its not easy to resist the temptation try something out, (I did that and lost a lot).

Think calmly about what your strengths are and how you can best capitalize on that, don't be rash and risk all your eggs on something you know jack about.

Originally Posted by Unregistered

My friends stay in PC, not EC. I want PC, not EC.

quite frankly given your income i would probably stay in a hdb flat. what's wrong with staying in a hdb flat?

my wife and i are both 35 this year. my own p.a is in the 175-180k region. wifey about 70-80k. so combined we are looking at ard 250k p.a.. staying in 4rm hdb. still owe hdb but thinking of refinancing with dbs (sibor+,10 year cap below 2.6pa). no car. 1 cute baby boy. happy and content.

just stay in hdb and be happy lah. interest rates going to shoot up soon. dont risk it.

Its tough, even for me I admit. But you have think logically and put your pride aside, if you really want to try something take 50,000 (not a small sum) and try a smaller scale of what you intend? Or maybe something similar along that line? What you don't succeed small its unlikely you will succeed big.

Also your "business partner" how much money is he stumping out? Because if its small say 200K and you fork out 1M its bad deal IMO

I know a chap who likes to setup restaurants, he has tons of cash (I'm talking 9 figures here) so he spares no expense. Once we were reviewing the cost of the restaurant he setup and kitchen equipment renovation etc put the cost at about 800K. Unfortunately it was a bad local and the business never took off and required more money to be pumped in. In the end it was a write off. But I appreciate such people who have the guts to take on such risky ventures, thru them I learn the risk of the business without losing my own money. (He also has a string of successful restaurants fyi)

I am not saying you will fail, but can you accept the possibility of failure and move on? If not start small and learn the ropes first before risking something you cannot afford to lose.

Originally Posted by Unregistered

Thanks for your thoughts. If you are in my situation, do you mind being a house husband doing the household chores? So your contribution to the family are passive investment income and in-kind services (replacing the maid's job). Is this ok for a man? Is it less manly and a shame?

You didn't tell us your age. If you already 50+, I would say not working no problem. You can yah yah papaya, just tell people you are retired and enjoying life. Many would be jealous of you.

If you are in your 40s, it is a different matter. Not working, no good. People will definitely look down on you as a worthless guy.

Also your wife salary of $100k+ pa if not much upside potential is going to be insufficient for you both to save for retirement. It is precarious. Being a house husband when wife is not earning much is really a bad decision.

Originally Posted by Unregistered

Thanks for your thoughts. If you are in my situation, do you mind being a house husband doing the household chores? So your contribution to the family are passive investment income and in-kind services (replacing the maid's job). Is this ok for a man? Is it less manly and a shame?

Societal norms aside, your family financial situation may not be sustainable. You mentioned you ferry your kids to school, that means your family is still a young one and your expenses can only go up.

Your wife's salary of $120k pa is actually not high, considering you are staying in a condo notwithstanding that it is fully paid.

If your wife's job has upside potential then her salary would have upside potential. If not, you better start contributing to the family income. Even as a taxi driver, you are at least bringing something in, and not just be a deadweight financially.

You can do a quick calculation on the amount you need to sustain your aspired retirement lifestyle and you will know the answer already whether you should go out and work or not. To me, the answer is very clear. And I have not even considered societal norms / expectations.

Originally Posted by Unregistered

Need advice. What should I do?

Hi, I used to be a corporate executive, earning $200k pa. But I was let go due to down sizing. I had a good severance package and with my savings all these years, I am able to invest, earning me a passive income of $40k pa. However I feel inadequate as my wife earns more at $120k pa. As a man, I felt that I should earn more or at least on par with my wife.

Should I liquidate my investment and set up a food business? I have no experience but my friend is willing to partner with me. This option potentially can give me an earning of $150k pa, but the risk is there. I could lose all my money if response for my products is not good.

As for searching for a job, I have done this for many months but not successful. I am either too old or overqualified. I thought of driving a taxi but my wife is against it as she feels embarrassed with our neighbors and relatives. My wife said that she is actually ok with me not working as I do still bring in income of $40k pa and I have paid off our condo mortgage and car loan. Also I have a $1m investment portfolio which will fund both our retirement. Her investment portfolio is only $100k. She said what I can do is to stop the maid's service and then I do most of the household chores and also ferry her and our kids around and coaching the kids. By not having a maid, our household expenses in total will drop to $100k pa. So as a couple, we can still save $60k pa.

What should I do? Follow my ego and do the food business - potential higher income for me but higher risk or follow my wife's idea - lower income for me but lower risk, become house husband (ego down the drain). What should I do? What would you do?

Originally Posted by Unregistered

My friends stay in PC, not EC. I want PC, not EC.

lol this is the stupidest thing i tot will only appear in books or articles that illustrate the classic example of ppl who lacks financial prudence.

u r in ur 50s, lack the financial means but still wan to live in pc cos ur friend live in it. joke.

[RYRR]

My advice is to go with what you feel is right, eg you have time to spend with your kids. How many fathers out there can do so? They will probably have to wait for their grandchildren before they get to play with kids as they have been so busy with, no day and night. There is nothing wrong with wife supporting the family. This is the 21st century and we have been talking about equality and now is the time for action.

Originally Posted by Unregistered

Need advice. What should I do?

Hi, I used to be a corporate executive, earning $200k pa. But I was let go due to down sizing. I had a good severance package and with my savings all these years, I am able to invest, earning me a passive income of $40k pa. However I feel inadequate as my wife earns more at $120k pa. As a man, I felt that I should earn more or at least on par with my wife.

Should I liquidate my investment and set up a food business? I have no experience but my friend is willing to partner with me. This option potentially can give me an earning of $150k pa, but the risk is there. I could lose all my money if response for my products is not good.

As for searching for a job, I have done this for many months but not successful. I am either too old or overqualified. I thought of driving a taxi but my wife is against it as she feels embarrassed with our neighbors and relatives. My wife said that she is actually ok with me not working as I do still bring in income of $40k pa and I have paid off our condo mortgage and car loan. Also I have a $1m investment portfolio which will fund both our retirement. Her investment portfolio is only $100k. She said what I can do is to stop the maid's service and then I do most of the household chores and also ferry her and our kids around and coaching the kids. By not having a maid, our household expenses in total will drop to $100k pa. So as a couple, we can still save $60k pa.

What should I do? Follow my ego and do the food business - potential higher income for me but higher risk or follow my wife's idea - lower income for me but lower risk, become house husband (ego down the drain). What should I do? What would you do?

Put this way. You have actually done a lot for your family. You did not spent away your savings on gambling, women and other vices. You now have an investment portfolio of $1m, which earns you $40k pa. This is enviable as many in this forum do not have a quarter of that and some earning less than your passive income. I'm sure during your good years, you have spent a lot on you family. Paying down the house and car loan is another of your big contribution. So on the financial front, it is undeniable that you have been a responsible man.

Now that you are not working, I don't see any problem at all with your wife working alone. Being a house husband is perfectly normal in this day and age and bear in mind, you are not just any house husband with no assets. You are a millionaire house husband. Given that your household income of $160k is much more than your household expenses of $100k, then you as a family are doing ok. Just need to watch your expenses, cut further where possible (eg. Car). Over the next 20 years or so, with your investment growing at say, 5-6 % pa, it will eventually hit $2m. So you are well prepared for your retirement. If you do business, you take high risks and may lose pour $1m totally.

You are in an enviable position that many forumers here are jealous of. Make the best of your situation.

Originally Posted by Unregistered

Need advice. What should I do?

Hi, I used to be a corporate executive, earning $200k pa. But I was let go due to down sizing. I had a good severance package and with my savings all these years, I am able to invest, earning me a passive income of $40k pa. However I feel inadequate as my wife earns more at $120k pa. As a man, I felt that I should earn more or at least on par with my wife.

Should I liquidate my investment and set up a food business? I have no experience but my friend is willing to partner with me. This option potentially can give me an earning of $150k pa, but the risk is there. I could lose all my money if response for my products is not good.

As for searching for a job, I have done this for many months but not successful. I am either too old or overqualified. I thought of driving a taxi but my wife is against it as she feels embarrassed with our neighbors and relatives. My wife said that she is actually ok with me not working as I do still bring in income of $40k pa and I have paid off our condo mortgage and car loan. Also I have a $1m investment portfolio which will fund both our retirement. Her investment portfolio is only $100k. She said what I can do is to stop the maid's service and then I do most of the household chores and also ferry her and our kids around and coaching the kids. By not having a maid, our household expenses in total will drop to $100k pa. So as a couple, we can still save $60k pa.

What should I do? Follow my ego and do the food business - potential higher income for me but higher risk or follow my wife's idea - lower income for me but lower risk, become house husband (ego down the drain). What should I do? What would you do?

Don't give irresponsible advise. He needs to do a reality check on his current and future expenses to ensure their lifestyle is sustainable.

There are many sources he can check this, one is the CPF, as mentioned in this post. website:Up$ide of Simplicity: Retirement in Spore- An inconvenient truth

How do you know what his investment were to conclude that they will grow by 5-6% a year?

Originally Posted by Unregistered

Put this way. You have actually done a lot for your family. You did not spent away your savings on gambling, women and other vices. You now have an investment portfolio of $1m, which earns you $40k pa. This is enviable as many in this forum do not have a quarter of that and some earning less than your passive income. I'm sure during your good years, you have spent a lot on you family. Paying down the house and car loan is another of your big contribution. So on the financial front, it is undeniable that you have been a responsible man.

Now that you are not working, I don't see any problem at all with your wife working alone. Being a house husband is perfectly normal in this day and age and bear in mind, you are not just any house husband with no assets. You are a millionaire house husband. Given that your household income of $160k is much more than your household expenses of $100k, then you as a family are doing ok. Just need to watch your expenses, cut further where possible (eg. Car). Over the next 20 years or so, with your investment growing at say, 5-6 % pa, it will eventually hit $2m. So you are well prepared for your retirement. If you do business, you take high risks and may lose pour $1m totally.

You are in an enviable position that many forumers here are jealous of. Make the best of your situation.

Originally Posted by Unregistered

Don't give irresponsible advise. He needs to do a reality check on his current and future expenses to ensure their lifestyle is sustainable.

There are many sources he can check this, one is the CPF, as mentioned in this post. website:Up$ide of Simplicity: Retirement in Spore- An inconvenient truth

How do you know what his investment were to conclude that they will grow by 5-6% a year?

You're the one giving alarmist and irresponsible advice.