How much savings do you have?

No big deal. My friend has cash of over $20million and shares over half that amount and he is only in his early 30s!! Even drives a Lamborghini.

Know why? According to him he says many rich ah-siah kias in Singapore have rich fathers who have only 1 to 2 child. These people will never tell you their money is dropped from their fathers' pants or their parents give them money to start a booming business enterprise or their father gave them the house etc.

They just tell you they have 'made it' because of their 'own' (ehem) capability. Well, that's only HALF the story of course and they leave the other half to your greedy 'imagination'

Have the following:

1. Cash - S$140k tied up in company account.
2. Stocks - zero
3. Property: 1 house in UK (S$400k fully paid) and 1 flat in Paris (S$350k 50% paid up).
4. Car - prefer taxi or MRT

Forgot to mention that i'm 37 yrs old with wife and 2 kids. Currently salary about S$130k but fluctuates due to running own biz. Am feeling insecure in SG as i never feel comfortable with properties going up, up and up. Renting HDB for S$2.5k p.m.

Originally Posted by Unregistered

Forgot to mention that i'm 37 yrs old with wife and 2 kids. Currently salary about S$130k but fluctuates due to running own biz. Am feeling insecure in SG as i never feel comfortable with properties going up, up and up. Renting HDB for S$2.5k p.m.

Are you a PR or a citizen?

Seeing all your posts, really make me reflect at my money mis-management, and also lack of foresight... but then, life lessons sometimes are expensive.

34 now, married.

Annual income (myself only) - $160K
Cash - $10K
Stocks - $0
1 4RM HDB flat (550K val) - with 450K loan left

Lost most of my cash in business... so good lesson...

Originally Posted by Unregistered

Seeing all your posts, really make me reflect at my money mis-management, and also lack of foresight... but then, life lessons sometimes are expensive.

34 now, married.

Annual income (myself only) - $160K
Cash - $10K
Stocks - $0
1 4RM HDB flat (550K val) - with 450K loan left

Lost most of my cash in business... so good lesson...

With your relatively high income, if you are prudent you should have no problem accumulating some wealth in a few years.

May I know how you managed to get a high paying job after your business venture?

Originally Posted by Unregistered

With your relatively high income, if you are prudent you should have no problem accumulating some wealth in a few years.

May I know how you managed to get a high paying job after your business venture?

Yea, now main focus on saving and increasing my net-worth, which was battered when I did business between 28 - 31.

Well, when you do business, you meet a lot of people, and gain a lot of real world experience. Basically, the school of hard knocks. Opens your eyes and makes you hungry, so gives you an edge to climb very fast when you go back to the corporate world. Corporate world seems to crawl very slowly by then....

Originally Posted by Unregistered

Yea, now main focus on saving and increasing my net-worth, which was battered when I did business between 28 - 31.

Well, when you do business, you meet a lot of people, and gain a lot of real world experience. Basically, the school of hard knocks. Opens your eyes and makes you hungry, so gives you an edge to climb very fast when you go back to the corporate world. Corporate world seems to crawl very slowly by then....

Thanks for sharing. Are you in a sales-related role now?

Originally Posted by Unregistered

Thanks for sharing. Are you in a sales-related role now?

No problem, I'm also here to learn from others. Nope, not in sales, more in IT line.

Originally Posted by Unregistered

No problem, I'm also here to learn from others. Nope, not in sales, more in IT line.

Hope you don't mind if I ask further: is it IT project management related, or support related?

Thanks!