Whats your net worth

Are you non Singaporean? If local, why need to rent?

Originally Posted by Unregistered

Oh, my take home annual salary is currently $25,000.
Most of which pays for bills and rents.

Originally Posted by Car Enthusiast

You kidding me, is it? You really need $10M to retire comfortably?

Yes, I'm serious.

I'm targeting for $280K per annum at 4% returns (my current salary) without eating into the investment capital. That requires $7M.

Adding in our landed property and car makes it about $10M.

Originally Posted by Unregistered

Are you non Singaporean? If local, why need to rent?

Local sinkie, served NS. I have no house, no kin. Used to live with my grandmother but after I'm left alone, I have been renting rooms since poly. I have ever sleep at void deck for few weeks due to homelessness & broke before I entered army. NS was heaven for me, food and bed for free. I mostly didn't book-out for that 2 years.

Been working part-time since lower sec for pocket money. Paid for my sch fees and everything else myself. You name a job, chances are I have done it; waiter, car-washer, flyer distributor, manual labourer, door-to-door salesman, fishmonger, ntuc stacker, theme park operator, admin boy, deliveryman, driver, security guard, bike courier, midnight petrol station cashier and even airport toilet cleaner.

I read many posters here, all so rich and wealthy. To be honest, I really envy you all. But I dare say I have worked harder than most of you. I wonder if you all can achieve the same if you were under a similar circumstances as me.

aged 29, logistics exec, single
earns $40,000/pa

cash $50,000
stocks $10,000
bonds $5,000
cpf $45,000
total: $110,000/-

no debt/financial commitment.
waiting to apply for hdb once turned 35 y.o.

looking to retire once house is fully paid for rentals (approx $2,000/pm)
and stocks/bonds portfolio total at least $500,000 (approx $2,000/pm @ 5% returns)

my aim is to retire at 55 years old at malaysia/thailand with approx $4,000/pm passive income

Sorry to hear about your loss of kins

All I can say is work smart, not scoffing at your hard work but if you notice there are many people around the world working hard at rice field, plantations etc to the odd jobs you described but yet that doesn't lead anywhere.

Did you consider signing on? One of Singapore richest used to be an army regular before he started his business. My army buddy which came from a broken family also signed on (drunk father used to beat him), currently he works as a successful insurance agent after leaving the army.

Opportunities are abundant, if not in Singapore they are in Malaysia/Indonesia/Thailand etc. But being a Sinkie gives you a leg up already, you have access to a population of rich consumers and access to manufacturing markets where our currency dominates theirs.

Your youth is your wealth and that's something a rich man can't even buy, question is will you squander it or can you turn it to an opportunity which will change your fate.

All the best, if you do make it share your story.

Originally Posted by Unregistered

Local sinkie, served NS. I have no house, no kin. Used to live with my grandmother but after I'm left alone, I have been renting rooms since poly. I have ever sleep at void deck for few weeks due to homelessness & broke before I entered army. NS was heaven for me, food and bed for free. I mostly didn't book-out for that 2 years.

Been working part-time since lower sec for pocket money. Paid for my sch fees and everything else myself. You name a job, chances are I have done it; waiter, car-washer, flyer distributor, manual labourer, door-to-door salesman, fishmonger, ntuc stacker, theme park operator, admin boy, deliveryman, driver, security guard, bike courier, midnight petrol station cashier and even airport toilet cleaner.

I read many posters here, all so rich and wealthy. To be honest, I really envy you all. But I dare say I have worked harder than most of you. I wonder if you all can achieve the same if you were under a similar circumstances as me.

Originally Posted by Unregistered

Local sinkie, served NS. I have no house, no kin. Used to live with my grandmother but after I'm left alone, I have been renting rooms since poly. I have ever sleep at void deck for few weeks due to homelessness & broke before I entered army. NS was heaven for me, food and bed for free. I mostly didn't book-out for that 2 years.

Been working part-time since lower sec for pocket money. Paid for my sch fees and everything else myself. You name a job, chances are I have done it; waiter, car-washer, flyer distributor, manual labourer, door-to-door salesman, fishmonger, ntuc stacker, theme park operator, admin boy, deliveryman, driver, security guard, bike courier, midnight petrol station cashier and even airport toilet cleaner.

I read many posters here, all so rich and wealthy. To be honest, I really envy you all. But I dare say I have worked harder than most of you. I wonder if you all can achieve the same if you were under a similar circumstances as me.

Wish you all the best brother. I believe you will make it big someday. Sometimes not because you are a spendthrift, but because you are tied down by adverse circumstances that impedes your journey to financial independence. Many people nowadays shrouded in material comfort, do not know homelessness is an existing problem in Singapore. First thing see you pay rent, ask you are you a foreigner. Freaking joke.

It must be hard on you to be renting a place at such a young age. I also rented a room when I was 21 to 23 yo but that's because I wanted to be near the uni I studied to cut down on commuting time. For that I had to give tuition at night to earn the money to pay for the rental.

I guess you already know that hard work alone doesn't make you rich. It is the kind of work / service that you provide. Those jobs that you did were low entry barrier kind that many other people can do. Nowadays it is even worse with cheap foreign labor aplenty.

What's important I think is to identify a niche area of wor/service where you have the unique skillset or training that you can leverage on.

Good luck on your future!

Originally Posted by Unregistered

Local sinkie, served NS. I have no house, no kin. Used to live with my grandmother but after I'm left alone, I have been renting rooms since poly. I have ever sleep at void deck for few weeks due to homelessness & broke before I entered army. NS was heaven for me, food and bed for free. I mostly didn't book-out for that 2 years.

Been working part-time since lower sec for pocket money. Paid for my sch fees and everything else myself. You name a job, chances are I have done it; waiter, car-washer, flyer distributor, manual labourer, door-to-door salesman, fishmonger, ntuc stacker, theme park operator, admin boy, deliveryman, driver, security guard, bike courier, midnight petrol station cashier and even airport toilet cleaner.

I read many posters here, all so rich and wealthy. To be honest, I really envy you all. But I dare say I have worked harder than most of you. I wonder if you all can achieve the same if you were under a similar circumstances as me.

Originally Posted by Unregistered

Local sinkie, served NS. I have no house, no kin. Used to live with my grandmother but after I'm left alone, I have been renting rooms since poly. I have ever sleep at void deck for few weeks due to homelessness & broke before I entered army. NS was heaven for me, food and bed for free. I mostly didn't book-out for that 2 years.

Been working part-time since lower sec for pocket money. Paid for my sch fees and everything else myself. You name a job, chances are I have done it; waiter, car-washer, flyer distributor, manual labourer, door-to-door salesman, fishmonger, ntuc stacker, theme park operator, admin boy, deliveryman, driver, security guard, bike courier, midnight petrol station cashier and even airport toilet cleaner.

I read many posters here, all so rich and wealthy. To be honest, I really envy you all. But I dare say I have worked harder than most of you. I wonder if you all can achieve the same if you were under a similar circumstances as me.

To this Young Man,

Ahem! This is uncle MK.. And yes, I'm going to share something but not wanting to vilify any SG folks.

This generation truly leaves in luxury. What? Young man must be thinking I worked harder than most of my peers! This is merely your (selfish) perception. A hard truth is about to unfold which may sunk your hopelessness and you will treasure almost everything.

Back in 1900s, I remembered riots, strikes and internal wars where money is the not issue but world peace. Thinking back, uncle was running a small business somewhere at an old district. The profit margin was meagre and we are talking about few hundreds. Then, there are a few young able-bodied men who entered this humble shop in search of jobs; those days, walk in and just ask towkay for job lobang!

Seeing the bad situation, economy stale, I went ahead although budget was busted - real hard and I went into deficit. Why? There is simply job shortage! These men had one more request.. "Can we stay at your shop?" I was like what..?! Well, they're homeless and nowhere to go. I didn't accede to their request as the store was really small. Instead, I went upstairs to the motel/dormitory and seek help from the towkay Neo. I asked if he could grant them a room and food supplies on me - I don't have money too hence the tradeoff using goods and services. I think this is called social autonomous expenditure this days. Well, uncle lied to them saying upstairs towkay very nice to let them live.

Everyday, uncle offered grade B & C rice to these young men for survival while trying to maintain a budget deficit. Some few years later, the shop went bust and everyone was jobless inclusing uncle MK. Having a determined nature, I went on to start another company while launching a soya bean shop as well, letting these young ones to run. Today, the soya bean shop is one of the biggest at home and they do give away free food & beverage. Uncle is elated that they did cherish this opportunity.

To the young man above, you're not alone and not in bad shape - you merely 'compare' with people of higher status where it is clearly wrong. No, uncle is not criticizing nor belittling you but this perception has to be change, for the better. This generation is fortunate to have an abundance in job searches. My opinion is to find a mentor; FB, , real life or whatsoever. Nobody will take pittance nowadays and this is a sad reality. In fact, time is on your side so why not stop procrastinating and get into sales line.

It is yours to command, not him, me or who. May the forces be on your side (credits to a kid beside me saying).

Take Care.

Originally Posted by Uncle MK

To this Young Man,

Ahem! This is uncle MK.. And yes, I'm going to share something but not wanting to vilify any SG folks.

This generation truly leaves in luxury. What? Young man must be thinking I worked harder than most of my peers! This is merely your (selfish) perception. A hard truth is about to unfold which may sunk your hopelessness and you will treasure almost everything.

Back in 1900s, I remembered riots, strikes and internal wars where money is the not issue but world peace. Thinking back, uncle was running a small business somewhere at an old district. The profit margin was meagre and we are talking about few hundreds. Then, there are a few young able-bodied men who entered this humble shop in search of jobs; those days, walk in and just ask towkay for job lobang!

Seeing the bad situation, economy stale, I went ahead although budget was busted - real hard and I went into deficit. Why? There is simply job shortage! These men had one more request.. "Can we stay at your shop?" I was like what..?! Well, they're homeless and nowhere to go. I didn't accede to their request as the store was really small. Instead, I went upstairs to the motel/dormitory and seek help from the towkay Neo. I asked if he could grant them a room and food supplies on me - I don't have money too hence the tradeoff using goods and services. I think this is called social autonomous expenditure this days. Well, uncle lied to them saying upstairs towkay very nice to let them live.

Everyday, uncle offered grade B & C rice to these young men for survival while trying to maintain a budget deficit. Some few years later, the shop went bust and everyone was jobless inclusing uncle MK. Having a determined nature, I went on to start another company while launching a soya bean shop as well, letting these young ones to run. Today, the soya bean shop is one of the biggest at home and they do give away free food & beverage. Uncle is elated that they did cherish this opportunity.

To the young man above, you're not alone and not in bad shape - you merely 'compare' with people of higher status where it is clearly wrong. No, uncle is not criticizing nor belittling you but this perception has to be change, for the better. This generation is fortunate to have an abundance in job searches. My opinion is to find a mentor; FB, , real life or whatsoever. Nobody will take pittance nowadays and this is a sad reality. In fact, time is on your side so why not stop procrastinating and get into sales line.

It is yours to command, not him, me or who. May the forces be on your side (credits to a kid beside me saying).

Take Care.

Uncle MK you old how ma ? 115 year ??

Good one there! People sometimes get carried away.

Originally Posted by Unregistered

Uncle MK you old how ma ? 115 year ??