Ex property investor |
22-03-2012 10:36 AM |
Quote:
Originally Posted by Unregistered
(Post 22677)
Hi going to 30 later this year, i am in consulting and she is in civil service..
but i feel like wow how come you all can have so much cash!!!!
how do you do it? no expense really?
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i believe most of the cash savings are from investment capital gains, mainly property and stocks. unlikely to be through salary alone.
i know one lady in her late 30s, probably earning about tee same as you 10 years back but was very shrewd and bought a few properties in the years 2002 leading up to 2006 when property was less than half the prices today. basically she saves to the max, dumping all into property, and using the rental and savings to fund the next property while borrowing to the max. every ounce of her free time was used for viewing property. her net worth is in the region of S$3m now, 80% of that from property gains. really impressive for a single income person to achieve.
of course, not everyone has the timing luck or appetite to take the risk. i did some property punting myself, managed to achived a net worth of S$2.3m now at age 35, 65% of that from property gains. we are now staying out of the market and building up cash reserves (around S$800k currently for me) to re-enter the market at the next financial crisis.
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