Are you rich?

[Ldawn88]

think we in the 30s should seriously think abt our future. save and invest properly. as least for me, I am starting to worry abt providing for my family in the long run and, at the same time, starting to plan very carefully for my career path.

 

a good new year resolution.

[Porker]

I like your style brudder! LOL

[Teh6]

Hey bro,

 

i can understand how u feel, really..

 

dun worry too much,

 

from the way u placed ur $, i can see that u are a very well organised person and did a careful planning for ur future, not only ur future but ur family one oso which is[thumbsup]

 

u have short to long term plan.

 

$ in FD is for short term.

$ in unit trusts is for mid to long term.

$ in insurance is for ur family.

 

u continue to do it this way, when time is ripe(mayb a recession ), u will be able to own ur own condo liao.

[Darth_mel]

Those goons are enticing people like you to make more investments to stir up the market.

 

If you make money, fine. But you still can't touch your gains. And your gains are still taxable.

 

If you lose money, they will blame you for lacking of foresight and poor judgement.

 

I will always remember this c**k reply from them when many got burnt investing their CPF years back.

Edited January 3, 2007 by Darth_mel

[Darth_mel]

It's much more cheaper to own a condom than a condo.

 

Although it is just an additional alphabet but look at the savings, man !

Edited January 3, 2007 by Darth_mel

[Teh6]

Hey bro,

 

i enjoy reading ur posts, haha

 

i found that u are a humorous guy.

[Darth_mel]

Problem is,

 

Condo can fit many people at once, but condom only one at a time.

 

It's your choice lor.

[Teh6]

Ya, u are rite

 

anyway right now i can afford the condom only lar.

 

i can't even able to afford a car comfortably.

Edited January 3, 2007 by Teh6

[Cordia_gsr]

Yup, and a condom is only good for 1 time usage as well

[Landex]

strong is the thrust in u....

 

the thrust is the strong u....

 

btw... frontal or rear thrust is ur speciality??

 

[Darth_mel]

You are wrong, bro.

 

Pour out the residue and use hair-dryer to blow lah !

 

GST 7% means your sex life is gonna cost more OK ?

Edited January 3, 2007 by Darth_mel

[Porker]

I have a nagging suspicion that he's the backdoor kind of guy. And I mean he's the taker! LOL

[Darth_mel]

I always engage myself in "forced entry" and "emergency exit" !

[Landex]

Ooooooooooops.....

 

u mean u is the giver??????

[Lexxmexx]

The only way to have the law favor us is to go for castration like 东方不败.

 

Let's sign up for the 葵花宝典 class together, shall we ? Remember to bring along knife, bandage and purple lotion hor....

 

Can sell our "spare-part" on ebay.

 

Bro, I don't think this will work for us, we might just end up at Changi Point

[Stary]

Ok, as I am considering 2 job offers which I also had stated in another thread, I came across this question. Will I be ready for retirement, say 20-25 years down the road. (Btw, I'm 33 this year)

 

For the past 3-4 years, I alway consider myself doing quite ok as compare to my peers but these days, every sunday while reading Sunday Times, you get to see interviews of those very investment savvy/successful young executive or young bosses. Some of them only in their late 20s, early 30s, and they have saving of few 100k, investment of few 100k to 1 million or so, staying in landed or condo, driving good cars.

 

Every now and then, I read on the paper when they interview a company, many a time the company spokeperson is only in his/her 20s, holding manager, VP position. Also, these days, many CEO, CFO are very young, in their early 30s only Every now and then, I read in the paper young couples in mid 20s buying condo valued at 400-600k for their 1st home, and mi only staying in HDB flat

 

Some info on me.

 

I have 2 young kids, drive a 2 year old 1.6A Jap saloon car and have 1 more year loan to go. No intention to change car for the next 3-4 years as bought it in 2004 when the COE was high. Anyway, I have sort of pass the stage where I alway want to change to a new car after 2-3 years. These day mentality is to have more saving, more cash rather than spent on a liability.

 

My resale 4 room HDB flat still have 50K/4.5 year loan to clear. Never visit any condo launch or showroom in my life as dun think I can afford any, even those cheaper 99 year lease at Jurong area also dun think I can.

 

Recently invested 90K in some unit trust fund, have a few life insurance policies for myself, my wife and my elder kid, a educational policy for my elder kid, 30k investment link insurance policy for myself as well. On top of that, I also have another 80K in FD and 20K invested in my biz which is managed by my wife.

 

When I chat with my close buddies, I see myself quite ok but as all of us were from those neighbour school then into Poly, NS, work fulltime and get do part time degree type, we might be frog in the well dunno much about outside world/rich man world.

 

I recently know a few friends, all in late 30s, early 40s enjoying annual salary of 2-3 millions. Worse still, they intro a few of their friends to me, all in late 20s, monthly salary at least 8k plus superb fat year end bonus[shocked]

 

I was like....WTF...so sian, morale so low, and suddenly I think of mid career crisis.

 

what about you guys....are your guys doing well financially?

 

Bro..glad that you did some financial thinking. I wouldn't say you are rich or poor, but

it is always good to do some financial planning especially if you have a family to feed.

 

Many of those you see in ST is where they are today because they started investment planning at a very young age. Of course, some have good jobs and all that, but most have one same criteria: They started saving and investing at a young age where most are still spending every cent they earn. These people are not being miser, but they are just being frugal.

 

I don't care about other people or how much they earn..but I do care about my own investments. IMO, it was a mistake for you to buy that 30K investment link policy and what on earth are you doing with 80K inside FD when global markets are having a bull run??? And that 90K UT fund..wehre did u buy from? what fund is that???

 

Learn to invest savvily and that will make more money for you than your job could probably earn. Most of us do not have the luck to work in an investment bank earning 5 figure every month, but all of us can brush up our investment knowledge and do better than the pros. Trust me, it can be done because I started one of the largest investment forum in Spore and I see many people doing it.

 

Changing job with higher pay can only help so much. Without the right mindset, the more you earn, the more you are expected (by people close to you) to spend. You see many doctors, lawyers are materials rich, but many are actually cash poor. And some of their materials have no appreciation value. Read the book "The millionaire next door" and you know what I mean. Job is not the solution.

 

I got my "wake up call" a few years back and although today I am not earning 5 figure or anywhere close to it, at least I have my own condo and my own car. All paid by myself...not a single cent from anybody. Thinking back, few years ago I was nearly broke due to a very bad experience and could barely survive.

 

So don't worry bro....whatever people earn is not our biz...but we can always find ways to make our money grow within a certain managed risk.

[Stary]

Those goons are enticing people like you to make more investments to stir up the market.

 

If you make money, fine. But you still can't touch your gains. And your gains are still taxable.

 

If you lose money, they will blame you for lacking of foresight and poor judgement.

 

I will always remember this c**k reply from them when many got burnt investing their CPF years back.

 

This is a really wrong mindset. Saving and investing is a good disciplinary habit. The problem is we ourself do not do any homework and we just follow every rumour and every hearsay out there. When we lose money, we blame them....but actually we should blame ourself first for not finding out the proper way to invest.

 

By the way, capital gains are not taxable in Spore. Just to correct your statement above.

 

STI has just broke 3000 points, but very soon, many will be reeling with losses due the correction that will definitely happen. If you are not prepare for it and just jump in like most people are doing now, then prepare to start blaming again once the correction happen.

[Guyver]

Ok, as I am considering 2 job offers which I also had stated in another thread, I came across this question. Will I be ready for retirement, say 20-25 years down the road. (Btw, I'm 33 this year)

 

For the past 3-4 years, I alway consider myself doing quite ok as compare to my peers but these days, every sunday while reading Sunday Times, you get to see interviews of those very investment savvy/successful young executive or young bosses. Some of them only in their late 20s, early 30s, and they have saving of few 100k, investment of few 100k to 1 million or so, staying in landed or condo, driving good cars.

 

Every now and then, I read on the paper when they interview a company, many a time the company spokeperson is only in his/her 20s, holding manager, VP position. Also, these days, many CEO, CFO are very young, in their early 30s only Every now and then, I read in the paper young couples in mid 20s buying condo valued at 400-600k for their 1st home, and mi only staying in HDB flat

 

Some info on me.

 

I have 2 young kids, drive a 2 year old 1.6A Jap saloon car and have 1 more year loan to go. No intention to change car for the next 3-4 years as bought it in 2004 when the COE was high. Anyway, I have sort of pass the stage where I alway want to change to a new car after 2-3 years. These day mentality is to have more saving, more cash rather than spent on a liability.

 

My resale 4 room HDB flat still have 50K/4.5 year loan to clear. Never visit any condo launch or showroom in my life as dun think I can afford any, even those cheaper 99 year lease at Jurong area also dun think I can.

 

Recently invested 90K in some unit trust fund, have a few life insurance policies for myself, my wife and my elder kid, a educational policy for my elder kid, 30k investment link insurance policy for myself as well. On top of that, I also have another 80K in FD and 20K invested in my biz which is managed by my wife.

 

When I chat with my close buddies, I see myself quite ok but as all of us were from those neighbour school then into Poly, NS, work fulltime and get do part time degree type, we might be frog in the well dunno much about outside world/rich man world.

 

I recently know a few friends, all in late 30s, early 40s enjoying annual salary of 2-3 millions. Worse still, they intro a few of their friends to me, all in late 20s, monthly salary at least 8k plus superb fat year end bonus[shocked]

 

I was like....WTF...so sian, morale so low, and suddenly I think of mid career crisis.

 

what about you guys....are your guys doing well financially?

 

Welcome to the real world.

 

Yes .... as the chinese saying goes ..... "compare up not enough, compare down got leftover".

 

If you wanna compare .... there is no end.

 

So you should ask yourself .... "Am I happy?".

 

But apparently ... before you read those newspaper and know those friends ... you were feeling happy that you are doing quite ok right?

 

So end of the day ... sometimes the saying "Ignorance is a bliss" ... how true. When the truth is presented before you ..... the question would be ... "Am I up to it?"

 

In conclusion, we will always notice Ferraris and Lambos because they are rare .... if you want a change in your life ... then the next question is ....

 

"Are you prepared to make changes .. which involves risk?"

 

If the answer is "No", then I would suggest continue in your happiness.