Whats your net worth

Why don't you teach temasek holdings and GIC how to make more money, or rather, how first not to lose money.

[Hermit]

Originally Posted by Unregistered

Age: 44, married with 3 teens.
Salary: $215k basic
Cash: 650k
Insurance policies cash value : $150k
Dividends: approx $300k per year (co-owner of business)
Assets: one semi-D ($4.2m valuation), cars ($460k mkt value)
Job: Entrepreneur
Experience: 19 yrs
Debt: about $1.5m (mortgage)

What should I do ? Considering stocks, overseas properties, bonds etc AND...retirement in 3 years hopefully.

Tell me you are not serious about retirement. In 3 years you are only 47. Take a break from your day job perhaps. Or go into business or start a project in an area of interest. Your teenage kids are going to need you less and less in some ways, so that frees up some time to do something meaningful. No investment properties?

Originally Posted by Unregistered

Age 23, Have Yet to Graduate one more year left. Studying Econs and Finance

cash - $25k+
stocks/trading account - $440k+
various funds & endowment - $90K+
CPF - $10k+
No Assets

I started learning about trading at 17 from my parents got addicted/passionate about it. took about 1.5 years to actually master or be fully discipline about it, i cant trade before 18. Starting was hard cause i lost nearly all my savings about 80% it really hurt at that time. I was aggressive and thought i could be a millionaire like in a week. :/

Started Trading properly at 19 with starting amount of $2k with compounding rate of 0.5-1.5% per week. Focus on Indices and forex. I have been told countless time to withdraw but because of its compounding rate i decide to keep it in there as long as possible. But i did withdraw about 40k. Age 20 i paused for about 3 months and then went into HFT and worked with Raptor Co and increase my weekly income to 3-4%(currently $12k to $15k per week) and got 14 friends and family investors, all this while in the army . Hoping to Open a Hedge Fund at the age or 27-28. Right After Graduating I intend to work in Merrill Lynch(SG) for about 2 years and learn more about managing and starting one. Plus i have been told that i am going to need 2 different certs before i can start one. So yeah. thats basically what i feel passionate. I know i am passionate about this is because i don't mind waking up early or sleeping late and i could look at charts and read news all day and still feel alert. I do have a life but before 7pm, to avoid trading hours, i would still hangout my friends Plus My HFT gives me more time.

Its nice to read that there are many millionaires in SG and i hope to be one soon. Plus the cost of living in SG is top 6 in the world. I noticed when i was 19, that surviving in SG with an income below 6-8k is really hard. And now I see it would be close to impossible to own a house without a debt if i didn't started trading at an early age and most people would be working half their life to pay of that debt and leaving them nothing for retirement. And what the new generation failed to realised is the inflation. which is currently at 3-5% per year and employers are still paying the $6 wages per hour,which was 8 years ago,and by right this year should be a minimum of $9.7/hr. Sadly SG has no minimum wage because they want to maintain the low unemployment rate. Well there are many pros and cons.

Lastly, May the Pips Be with you

To dismiss you as a troll will be disrespectful. But to trust you will make me a moron.

I'm sure your expertise will be needed by banks. Merrill Lynch will hire you without doubt. Goldman sachs will headhunt you. Your hedge fund will be successful. Just offer me a 500% interest and i will entrust my entire $800k portfolio with you. And what is 500%? You are getting 20,000% in five years! Look at all the commission you will get!

Don't need to wait till 27. Start now. Fk your degree. You are god sent. Everyone wants to know how to multiply their capital by 200 times in five years.

When I read all the posts by the many high fliers here, I feel depressed.
I'm already 40 years old and yet I have only a property worth $500k.
Me and my wife's CPF totaled only $400k (including SA and Medisave).
Our combined annual income income is only $80k. How can we retire?
Do you think we can rent out our rooms in our retirement years?
Do you think we can $2000 from renting two HDB rooms when we retire in 15 years time?
Do we need to retire in a neighboring country while we rent out our whole flat?
Any ideas? Thanks.

Originally Posted by Hermit

Tell me you are not serious about retirement. In 3 years you are only 47. Take a break from your day job perhaps. Or go into business or start a project in an area of interest. Your teenage kids are going to need you less and less in some ways, so that frees up some time to do something meaningful. No investment properties?

Hi, thanks for response. I AM pretty serious about retirement actually. Not expecting a lavish lifestyle when that happens and prepared to downgrade to a condo. Already running a couple of projects as it is, hence the dividends and they should continue to come in when I'm retired. Sold off my investment props 2 years ago and have been looking to get back in properties. Am somewhat cautious of current property market.

Originally Posted by Unregistered

When I read all the posts by the many high fliers here, I feel depressed.
I'm already 40 years old and yet I have only a property worth $500k.
Me and my wife's CPF totaled only $400k (including SA and Medisave).
Our combined annual income income is only $80k. How can we retire?
Do you think we can rent out our rooms in our retirement years?
Do you think we can $2000 from renting two HDB rooms when we retire in 15 years time?
Do we need to retire in a neighboring country while we rent out our whole flat?
Any ideas? Thanks.

A few facts to ponder:
1. 40 yrs is not old. Haven't you heard? With affluence and better health care, people are living longer. 50 is the new 40, 60 is the new 50 etc..
2. Many people are already working into their 60s nowadays.
3. There are many more ordinary earners than there are high earners, meaning many will not be able to retire early.
4. The posts here are largely exaggerated, and likely to be from the same few posters. Some even answering / responding to their own posts.
5. Singapore is an expensive city to live in if one is not working
6. Inflation is consistently high and eat into your savings if not invested

Bottom line is you will not be alone when you are still working at 60. Cold comfort but better to prepare for it mentally

[lazyplane]

Originally Posted by Unregistered

To dismiss you as a troll will be disrespectful. But to trust you will make me a moron.

I'm sure your expertise will be needed by banks. Merrill Lynch will hire you without doubt. Goldman sachs will headhunt you. Your hedge fund will be successful. Just offer me a 500% interest and i will entrust my entire $800k portfolio with you. And what is 500%? You are getting 20,000% in five years! Look at all the commission you will get!

Don't need to wait till 27. Start now. Fk your degree. You are god sent. Everyone wants to know how to multiply their capital by 200 times in five years.

ha ha... he is the singapore whale lah... vvip room at mbs

Seems like quite a number of well to do people over here. My achievements are modest compared to most of you here.

Married 35 this year with 2 kids.

Combined annual income of $290k staying in a fully paid HDB worth $570k now.

In terms of savings mostly in some unit trust / endowment / stock / structured products ($780k) and our emergency fund in cash ($80k)

Originally Posted by Unregistered

Age 23, Have Yet to Graduate one more year left. Studying Econs and Finance

cash - $25k+
stocks/trading account - $440k+
various funds & endowment - $90K+
CPF - $10k+
No Assets

I started learning about trading at 17 from my parents got addicted/passionate about it. took about 1.5 years to actually master or be fully discipline about it, i cant trade before 18. Starting was hard cause i lost nearly all my savings about 80% it really hurt at that time. I was aggressive and thought i could be a millionaire like in a week. :/

Started Trading properly at 19 with starting amount of $2k with compounding rate of 0.5-1.5% per week. Focus on Indices and forex. I have been told countless time to withdraw but because of its compounding rate i decide to keep it in there as long as possible. But i did withdraw about 40k. Age 20 i paused for about 3 months and then went into HFT and worked with Raptor Co and increase my weekly income to 3-4%(currently $12k to $15k per week) and got 14 friends and family investors, all this while in the army . Hoping to Open a Hedge Fund at the age or 27-28. Right After Graduating I intend to work in Merrill Lynch(SG) for about 2 years and learn more about managing and starting one. Plus i have been told that i am going to need 2 different certs before i can start one. So yeah. thats basically what i feel passionate. I know i am passionate about this is because i don't mind waking up early or sleeping late and i could look at charts and read news all day and still feel alert. I do have a life but before 7pm, to avoid trading hours, i would still hangout my friends Plus My HFT gives me more time.

Its nice to read that there are many millionaires in SG and i hope to be one soon. Plus the cost of living in SG is top 6 in the world. I noticed when i was 19, that surviving in SG with an income below 6-8k is really hard. And now I see it would be close to impossible to own a house without a debt if i didn't started trading at an early age and most people would be working half their life to pay of that debt and leaving them nothing for retirement. And what the new generation failed to realised is the inflation. which is currently at 3-5% per year and employers are still paying the $6 wages per hour,which was 8 years ago,and by right this year should be a minimum of $9.7/hr. Sadly SG has no minimum wage because they want to maintain the low unemployment rate. Well there are many pros and cons.

Lastly, May the Pips Be with you

Thanks for making my friday afternoon.

Your effort to write so much is commendable.

Good job!

Eh... sure ornot.. I thought Merrill Lynch bought over by BOA liao?

May the Tits be with you as well.

Originally Posted by Unregistered

Age 23, Have Yet to Graduate one more year left. Studying Econs and Finance

cash - $25k+
stocks/trading account - $440k+
various funds & endowment - $90K+
CPF - $10k+
No Assets

I started learning about trading at 17 from my parents got addicted/passionate about it. took about 1.5 years to actually master or be fully discipline about it, i cant trade before 18. Starting was hard cause i lost nearly all my savings about 80% it really hurt at that time. I was aggressive and thought i could be a millionaire like in a week. :/

Started Trading properly at 19 with starting amount of $2k with compounding rate of 0.5-1.5% per week. Focus on Indices and forex. I have been told countless time to withdraw but because of its compounding rate i decide to keep it in there as long as possible. But i did withdraw about 40k. Age 20 i paused for about 3 months and then went into HFT and worked with Raptor Co and increase my weekly income to 3-4%(currently $12k to $15k per week) and got 14 friends and family investors, all this while in the army . Hoping to Open a Hedge Fund at the age or 27-28. Right After Graduating I intend to work in Merrill Lynch(SG) for about 2 years and learn more about managing and starting one. Plus i have been told that i am going to need 2 different certs before i can start one. So yeah. thats basically what i feel passionate. I know i am passionate about this is because i don't mind waking up early or sleeping late and i could look at charts and read news all day and still feel alert. I do have a life but before 7pm, to avoid trading hours, i would still hangout my friends Plus My HFT gives me more time.

Its nice to read that there are many millionaires in SG and i hope to be one soon. Plus the cost of living in SG is top 6 in the world. I noticed when i was 19, that surviving in SG with an income below 6-8k is really hard. And now I see it would be close to impossible to own a house without a debt if i didn't started trading at an early age and most people would be working half their life to pay of that debt and leaving them nothing for retirement. And what the new generation failed to realised is the inflation. which is currently at 3-5% per year and employers are still paying the $6 wages per hour,which was 8 years ago,and by right this year should be a minimum of $9.7/hr. Sadly SG has no minimum wage because they want to maintain the low unemployment rate. Well there are many pros and cons.

Lastly, May the Pips Be with you