Whats your net worth

32 yrs old, security guard, $2100 net pay, $400 in savings. thats all. any advise?

[lazyplane]

I am very amazed that as someone holding 1.6m in FD will want to plonk his life into as trader.

U going through mid life crisis bro.

Originally Posted by Unregistered

hould I exit the rat race?

The past 3 years I had been contemplating exiting the rat race and go to my dream job - Full Time trader. I had been honing my experiences in trading for the past 7 years. I think in terms of practices, it should be sufficient. Am confident of getting a 120-200K return pa on trading.

Current Situation
Age : 42
Dual income : 600K pa ( 300K each for both me and spouse)
Cash : 1.6 M ( FD)
Shares : 100K
Investments : 300K (4% pa)
CPF : 200 K ( OA) 350 k (SA)
Value of property : 4.5m
Existing Loan : 2m (10K monthly payment)

Strategy
Assets
1) Reduce to 1 income (300Kpa)
2) Trading profits ( FX / Stocks / Etc) (120Kpa)
3) Increase passive income ( Dividend stock / bonds ) from 400 K to 1 M
3.5% return - 35 K pa

Gross income : 455K

Liabilities
1) Reduce Housing loan to 1M (5 K pa or 60Kpa)
2) Income Tax - 30 K
3) Household Expenses : 60 K pa (Inclusive of car)
4) Holidays : 20K
5) Emergency Funds : 20K
6) Charity : 20K

Net Expenses : 210K

Savings : 240K pa ( To add to passive income yearly . Aim to pay off housing loan in 10 years)

I figured even without trading income, it might still work. Would not downgrade property as it is meant to be a heirloom for kids (I do not intend to leave them too much cash)

Am I missing any variables?

Stepping off the rat race is scary . Not only would you lose you income, but you would also lose your safety net (CPF contribution, medical insurance, etc)
Nonetheless, I figured I should do it when my mind is still nimble and I have the energy to monitor positions.

Too ambitious or a realistic dream?

[MrTan]

28 yrs old, male.... 90k cash in various banks, 70k unit trusts, 50k in FD...

This is average net worth? Seems everyone is so rich here

Originally Posted by Unregistered

32 yrs old, security guard, $2100 net pay, $400 in savings. thats all. any advise?

u can go suck ur own cock lah u

Originally Posted by MrTan

28 yrs old, male.... 90k cash in various banks, 70k unit trusts, 50k in FD...

This is average net worth? Seems everyone is so rich here

Thats way too little for someone of ur age. you are one worthless piece of shite


u should start selling ur backside at Changi and make more money

I guess you must be making ton of money selling your backside at Changi.

I rather remain as worthless piece of **** that having a smelly and torn backside in order to have more money.

Kudos to you!

Originally Posted by Unregistered

Thats way too little for someone of ur age. you are one worthless piece of shite


u should start selling ur backside at Changi and make more money

Wow.. didn't know you suck your own cock can earn more $$.

Hmm.. thought sucking others would pay rather than own than give pleasure rather than money.

Originally Posted by Unregistered

u can go suck ur own cock lah u

Originally Posted by Unregistered

Wow.. didn't know you suck your own cock can earn more $$.

Hmm.. thought sucking others would pay rather than own than give pleasure rather than money.

Mlmlwml

11char -----

So many rich ppl here..

I am 40yo and wonder if I'm doing fine.. worried abt losing job at my age.

I have 230k cash n stocks and 250k in Cpf. 60k hdb loan left. Flat worth 430k.

If I kena retrenched, I should be able to survive on passive income but only to cover the basic living costs.

Originally Posted by Unregistered

So many rich ppl here..

I am 40yo and wonder if I'm doing fine.. worried abt losing job at my age.

I have 230k cash n stocks and 250k in Cpf. 60k hdb loan left. Flat worth 430k.

If I kena retrenched, I should be able to survive on passive income but only to cover the basic living costs.

You are doing well actually. Your net worth is $850k, which puts you among the few with such a high net worth compared to average net worth.

Assuming you are single, if you got retrenched, you can actually retire in Malaysia. You can pay off your flat loan and rent it out for $2000 pm. This will give you a passive income of RM6,000 pm (S$1 = RM3).

For a single person, RM6,000 pm is a lot of money. You can rent a nice one bedroom condo in KL for RM1,000 pm. You have a balance of RM5,000 pm to enjoy yourself, eating at nice restaurants and go holidays.

When you reach 65, your CPF Life (if you choose the highest tier option) will give you an extra $1,800 pm or RM5,400. You can use this extra money to travel the world.

If you retire in Thailand, Vietnam or Cambodia, you will be a rich tycoon.