Quote:
Earning a good income is just "part 1" of 3 parts necessary to ensure reasonable wealth and passive income. The other two parts are savings and investment. The second part - savings. Earning a high income is meaningless if you spend most of it away every month. In a recent article from the US, it was reported that many high income (USD 150k pa and above) earners in the US complained that they were unable to save. This was mainly due to their lifestyles. It seems that many of these high income earners were living lifestyles matching their incomes meaning big houses, big and multiple cars, holidays, and frequent restaurant dining. So it is thus not enough just to earn a high income, but you must be able to save a substantial amount of that income. For us, we were also sucked into lifestyle inflation as our income grew. From living in a 4 room HDB, we upgraded to a 4 bedroom condo. From taking buses, we now own two cars. From self drive holidays in Malaysia, we now enjoy self drive holidays all over the world. It was indeed difficult for us to save in our earlier years. We only saw our savings grew steadily and strongly when we crossed 50 yo. And that's because our financial commitment started to taper off while our incomes were peaking. For the last 5 to 6 years, we were able to save upwards of $300k pa. We knew much early on that we will not be able to sustain our desired lifestyles when we near and then go into retirement. That's when we started investing. Small steps initially. Buying shares whenever we had some savings. Making your money work is the third part to wealth and passive income building. Savings alone, if not invested well, will not be enough as inflation will erode its value over time. |
Opportunities for passive income in China?
Quote:
If you're looking for passive income opportunities in China there are plenty. Give me a shout at [email protected] and perhaps we can have coffee and discuss more about opportunities in the region. Would love to hear everyone's thoughts. |
Quote:
It seems to me you are not familiar with the CPF. In order to ensure that a person have some income till his very last day, a part of a person's CPF funds is channeled into the retirement account (RA). The rest will still be in his OA, SA and MA. Of these three accounts, you can withdraw whatever that is left in the OA & SA at age 55 when you have set aside the Basic Retirement Sum (BRS) or Full retirement sum (FRS). For retirees, the last thing you want to do is to withdraw your CPF money which gives a guaranteed 2.5% in your OA and 4% in your SA to go and invest in a risky China venture. For us, when we retire, we will be depending on: Interest from our CPF OA & SA : $4k pm or $48K pa (combined) From age 65, CPF Life payout : $4k pm or $48k pa (combined) @ ERS This means a total income of $96k pa from age 65 onwards. This should be sufficient for us if we live frugally. |
Back to square one
Hi, everyone. I’m Dr D, whatever u have and earn for the past 50 or 60 years,
Be it, passive income or fixed income. You only live once. Eventually, u have to return it to either me, the hospital or back to the earth And ur soul have to stay underground alone forever. |
Quote:
You should look at life as a journey, and money as the enabler to enjoy your journey. The more money you have, the smoother and more enjoyable your life journey will be. The one with less/no money console himself that he cannot bring money to his grave. The one with more money constantly thinks of enriching his life experiences, living life to the full. He has more options. Which would you rather be? |
Quote:
b) cryptocurrencies - bitcoin (18), ethereum (25), litecoin (40) c) started accumulating them for last 3 year. now i am 38 |
Quote:
|
Quote:
for FY2017 round up shares dividend from local= $17k shares dividend from overseas = $10k average couple ages 46. |
30 yrs old with 12k annual passive income. Aiming to hit 3k per month by 35. :)
|
refreshing thread
coming to end of 2021, decided to take stock of our passive income for a working couple age 50 annualized dividends = $45k cpf interest = $50k rental = $36k plan to work till 55 yo to further boost portfolio |
All times are GMT +8. The time now is 06:07 AM. |
Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2024, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.3.2