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Whats your net worth

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  #1571 (permalink)  
Old 10-10-2013, 01:45 PM
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The successful ones will retire in their 40s and then they manage their own investments. The not so good ones still slogging hard in their 50s. These are not good investors but they are the sales types. They know how to smooth talk but they are hopeless in their personal investments. If you want to know the real solid investment gurus, they are the ones who retire early.

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Personally, banking industry has evolve too much.. they are the one causing negative effects on economy rather than the banks in the 18th century, funding and lending for economy booming. Nowadays they are selling products for more money and this has cause the collapse of world economy.. Most of them merely follow the past, the history.. and have no foresight to predict the future accurately. Look at the IB ppl, they can do multi billion $ IPO prospectus, and come out with stock analyst report.. on finance news.. but how many of them are successful in their own investment?

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  #1572 (permalink)  
Old 10-10-2013, 04:03 PM
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The successful ones will retire in their 40s and then they manage their own investments. The not so good ones still slogging hard in their 50s. These are not good investors but they are the sales types. They know how to smooth talk but they are hopeless in their personal investments. If you want to know the real solid investment gurus, they are the ones who retire early.
Most of them invest in properties, like my friends in IB. But not financial products/stocks... They are not allowed to or have constraints doing it. May be because they know their own products are terrible. Share wise, most of them are very good in telling theories, TA, FA, long term investment... but none of them make it there (at least 10 folds return in life time), and yes, good sales ppl (more to desperate sales ppl with no sales skills at all) see how they approach ppl for banking products. More of forcing ppl to buy by grouping up and not allow you to go until you sign.. these are the ppl who are only good at memorising text books, and lucky cos the industry is very profitable. Unlike in the past, technology era, ppl really contribute their knowledge and skills. Bankers are more on selling with all hidden T&C which they would never tell you until you sign.. Even those who retired early, they wealth are from salary, bonus and their property.. Not many of them really roll their capital with good investment.. But when come to talking, about high dividend stock... they are expert, typical can talk cannot do ppl..

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  #1573 (permalink)  
Old 10-10-2013, 04:30 PM
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Most of them invest in properties, like my friends in IB. But not financial products/stocks... They are not allowed to or have constraints doing it. May be because they know their own products are terrible. Share wise, most of them are very good in telling theories, TA, FA, long term investment... but none of them make it there (at least 10 folds return in life time), and yes, good sales ppl (more to desperate sales ppl with no sales skills at all) see how they approach ppl for banking products. More of forcing ppl to buy by grouping up and not allow you to go until you sign.. these are the ppl who are only good at memorising text books, and lucky cos the industry is very profitable. Unlike in the past, technology era, ppl really contribute their knowledge and skills. Bankers are more on selling with all hidden T&C which they would never tell you until you sign.. Even those who retired early, they wealth are from salary, bonus and their property.. Not many of them really roll their capital with good investment.. But when come to talking, about high dividend stock... they are expert, typical can talk cannot do ppl..
Your theory is wrong. If the bankers weren't good at making people money, they wouldn't be successful bankers earning hundreds of thousands of dollars. Even if they are prohibited from investing directly, the banks pay them large amounts of money to advise others. If they give wrong advice, they get fired. If you think you are so smart and can earn the same salary as them, why don't you try. Most likely you will fail

Most people who try investment banking fail and have to leave to do something else and Singapore is littered with failed investment bankers who are in corporate jobs. Many just cannot stand the stress and difficult job. There are those who are not very good and just end up getting stuck at an OK but not fantastic salary. Those will work until they retire as mediocre individuals. They may even do quite well, as you say, by investing in property. But there are those high flyers who deserve their million dollar salaries because they are really good at what they do.

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  #1574 (permalink)  
Old 10-10-2013, 04:45 PM
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what nonsense. most just follow what their clients want. as long as clients are happy, pay them, they are happy as they will get their bonuses. many don't last long as the job is demanding and there is no life. for the good ones, they make their money and leave. these high flyers would retire as soon as they could. yes, many actually make money from buying properties. i know one guy who made enough and now he is retired, sepnding most of his time in his D10 gym and pool. he would dabble in stocks for fun. he has enough to feed his children and any future grandchildren.


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Originally Posted by Unregistered View Post
Your theory is wrong. If the bankers weren't good at making people money, they wouldn't be successful bankers earning hundreds of thousands of dollars. Even if they are prohibited from investing directly, the banks pay them large amounts of money to advise others. If they give wrong advice, they get fired. If you think you are so smart and can earn the same salary as them, why don't you try. Most likely you will fail

Most people who try investment banking fail and have to leave to do something else and Singapore is littered with failed investment bankers who are in corporate jobs. Many just cannot stand the stress and difficult job. There are those who are not very good and just end up getting stuck at an OK but not fantastic salary. Those will work until they retire as mediocre individuals. They may even do quite well, as you say, by investing in property. But there are those high flyers who deserve their million dollar salaries because they are really good at what they do.
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  #1575 (permalink)  
Old 10-10-2013, 04:58 PM
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Quote:
Originally Posted by Unregistered View Post
Your theory is wrong. If the bankers weren't good at making people money, they wouldn't be successful bankers earning hundreds of thousands of dollars. Even if they are prohibited from investing directly, the banks pay them large amounts of money to advise others. If they give wrong advice, they get fired. If you think you are so smart and can earn the same salary as them, why don't you try. Most likely you will fail

Most people who try investment banking fail and have to leave to do something else and Singapore is littered with failed investment bankers who are in corporate jobs. Many just cannot stand the stress and difficult job. There are those who are not very good and just end up getting stuck at an OK but not fantastic salary. Those will work until they retire as mediocre individuals. They may even do quite well, as you say, by investing in property. But there are those high flyers who deserve their million dollar salaries because they are really good at what they do.
If you read their analysis report and recommendation, most likely you lose money.. Do you buy shares? (not those reits for dividend), Their job is to invest in stocks for the banks and make money from that. Do you think they will recommend you good ctr? or recommend you something to increase their profit? They earn a lot not because they are good at what they are doing (most of them), but because they are licensed to do a lot of things which others cant do.. They can publish a report with official bank title on it and ppl will rush to buy it. and of cos there are many angles to judge whether a stock is good or no good.. and they are expose to a lot of corporate internal news. Can you publish something yourself?
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  #1576 (permalink)  
Old 10-10-2013, 05:07 PM
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Quote:
Originally Posted by Unregistered View Post
Your theory is wrong. If the bankers weren't good at making people money, they wouldn't be successful bankers earning hundreds of thousands of dollars. Even if they are prohibited from investing directly, the banks pay them large amounts of money to advise others. If they give wrong advice, they get fired. If you think you are so smart and can earn the same salary as them, why don't you try. Most likely you will fail

Most people who try investment banking fail and have to leave to do something else and Singapore is littered with failed investment bankers who are in corporate jobs. Many just cannot stand the stress and difficult job. There are those who are not very good and just end up getting stuck at an OK but not fantastic salary. Those will work until they retire as mediocre individuals. They may even do quite well, as you say, by investing in property. But there are those high flyers who deserve their million dollar salaries because they are really good at what they do.
Owning a D10 condo doesn't mean they are good at doing what they do..
Just because they are well paid to rip people off, they can buy D10 condo and that's is successful?
Of cos if everyone is rich, they will know where to buy.
If you have 20million old money, will you buy D10 condo? and you may screw up at work..
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  #1577 (permalink)  
Old 10-10-2013, 05:25 PM
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CCR properties are the worst to buy now, prices are falling and people are rushing to sell off. many bought in 2007 at prices higher than current prices. OCR properties are the best bet as prices will appreciate with the opening of new MRT lines over the next few years and the regional development plans (e.g. Jurong, Woodlands). CCR properties are fully valued right now whereas OCR properties are very undervalued.

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Owning a D10 condo doesn't mean they are good at doing what they do..
Just because they are well paid to rip people off, they can buy D10 condo and that's is successful?
Of cos if everyone is rich, they will know where to buy.
If you have 20million old money, will you buy D10 condo? and you may screw up at work..
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  #1578 (permalink)  
Old 10-10-2013, 07:58 PM
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Breaking news: there are now 174,000 millionaires in Singapore.

Wealth figure does includes the net value of your primary residence (market value of home minus outstanding debt).

My personal net worth is now US$1.5m, so I am a millionaire. I lead a simple life. No fanciful car. No fanciful condo. No partying with girls. No expensive holidays. No debt. Just a simple person. If you see me on the streets, you might think I am just a coffee shop uncle.
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  #1579 (permalink)  
Old 10-10-2013, 08:14 PM
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Haha, you are a joker.

For your information, the other uncles you see at coffee shops could be millionaires too. At $1.5m, it is really not much and if you do sums properly you will be shocked that you may not be able to retire till you are 65.

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Breaking news: there are now 174,000 millionaires in Singapore.

Wealth figure does includes the net value of your primary residence (market value of home minus outstanding debt).

My personal net worth is now US$1.5m, so I am a millionaire. I lead a simple life. No fanciful car. No fanciful condo. No partying with girls. No expensive holidays. No debt. Just a simple person. If you see me on the streets, you might think I am just a coffee shop uncle.
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  #1580 (permalink)  
Old 10-10-2013, 08:48 PM
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Actually, I'm already retired. My investment portfolio is about US$1m and I get a passive income of US$50k per year (S$62k). This is more than enough for me as I lead a simple life.

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Haha, you are a joker.

For your information, the other uncles you see at coffee shops could be millionaires too. At $1.5m, it is really not much and if you do sums properly you will be shocked that you may not be able to retire till you are 65.
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