City100a Neutral Newbie December 10, 2009 Share December 10, 2009 I have recently attended few financial course previews like t3b system they all keep telling me their founder are multi-millionaire i too embarass to ask them, what is actually a multi-millionaire (singapore dollars) if more than 1 million considered multi-millionaire or more than 2 million if the latter is the definition, then we have many many multi-millionaires in Singapore, many properties (private) are more than 2 million nowadays look at silversea (district 15) some medium size units are going for $4 million i dont understand my fellow singaporeans what is important in buying a property priority - size - to accomodate family location - near amenities and public transport (like MRT) some of colleagues give up their executive mansionate (about 1300-1400 sq feet) in Serangoon to buy a small apartment (condo- 1100 sq feet) now they have to "starve" to pay mortgage and move to a smaller flat further more when the interest rate increase they are going to lau sai so there are many multi-millionaires in singapore but how many are truly financially independent I am not ↡ Advertisement Link to post Share on other sites More sharing options...
Freestylers09 5th Gear December 11, 2009 Share December 11, 2009 i wonder sometimes 300-500k hdb how to finish paying..30 years,overall with interest was like 400-700+ overall? if couple both 10k, then will be 4k a month cpf deduct..which mininum need 10-15 years straight but how many pple or gen y pple earn so much nowadays.. i intend to buy over a 220k mature flat,calculate everything after cpf etc, overall loan 60k,deciding finish asap if possible. hope i can do it..then complete my around the world tour..kakaka btw hows the T course?they teach u use their program n not how to see chart and overall rite? Link to post Share on other sites More sharing options...
Apvman 2nd Gear December 11, 2009 Share December 11, 2009 I have recently attended few financial course previews like t3b system they all keep telling me their founder are multi-millionaire i too embarass to ask them, what is actually a multi-millionaire (singapore dollars) if more than 1 million considered multi-millionaire or more than 2 million if the latter is the definition, then we have many many multi-millionaires in Singapore, many properties (private) are more than 2 million nowadays look at silversea (district 15) some medium size units are going for $4 million i dont understand my fellow singaporeans what is important in buying a property priority - size - to accomodate family location - near amenities and public transport (like MRT) some of colleagues give up their executive mansionate (about 1300-1400 sq feet) in Serangoon to buy a small apartment (condo- 1100 sq feet) now they have to "starve" to pay mortgage and move to a smaller flat further more when the interest rate increase they are going to lau sai so there are many multi-millionaires in singapore but how many are truly financially independent I am not I still dont really understand. What's the point of buying extra properties in SG if one day the economy in sg is so bad and by then even if u want to sell, also no one want to take.... If I were you, I will not put all eggs in one basket. Try looking around other countries properties e.g. Aust is a good place Link to post Share on other sites More sharing options...
Freestylers09 5th Gear December 11, 2009 Share December 11, 2009 Vietnam will b another raising dragon in SEA..pple started or starting to go in there already Link to post Share on other sites More sharing options...
City100a Neutral Newbie December 11, 2009 Author Share December 11, 2009 i wonder sometimes 300-500k hdb how to finish paying..30 years,overall with interest was like 400-700+ overall? if couple both 10k, then will be 4k a month cpf deduct..which mininum need 10-15 years straight but how many pple or gen y pple earn so much nowadays.. i intend to buy over a 220k mature flat,calculate everything after cpf etc, overall loan 60k,deciding finish asap if possible. hope i can do it..then complete my around the world tour..kakaka btw hows the T course?they teach u use their program n not how to see chart and overall rite? yes you are absolutely right after i tried to work out the cost of servicing the HDB loan many today would be like servicing small condo in the past how come we think alike i am thinking of the round the world trip with my family on my retirement i sincerely hope to retire early Link to post Share on other sites More sharing options...
Stary Turbocharged December 11, 2009 Share December 11, 2009 yes you are absolutely right after i tried to work out the cost of servicing the HDB loan many today would be like servicing small condo in the past how come we think alike i am thinking of the round the world trip with my family on my retirement i sincerely hope to retire early Retire early? How to when the system in Singapore is designed to make you work longer? Link to post Share on other sites More sharing options...
Freestylers09 5th Gear December 11, 2009 Share December 11, 2009 no need retire then travel..travel while u have the energy to plan every year at least twice, from then able to cover most of the places u wish to go.. now only 30% of my top places to visit..still working on it Link to post Share on other sites More sharing options...
Freestylers09 5th Gear December 11, 2009 Share December 11, 2009 (edited) actually can la..last time i also tot cant. u see since average income of MCF pple is 8-12 combine..why cant? unless most pple 8-12k own condos and big cars..then v hard, if normal hdb 200-300k+, after deduct CPF etc, the loan is not as much already. not Singapore system make us work hard, its us ,our choice make us to. if a couple confirm 8k, housing loan 100k+ after deducting cpf,grant etc,20 years shld able to finish. cash will have around 6.4k left 6.4k maybe 3.4k makan,expenses for kids etc.(quite alot liao overall,some family dont even earn tat much but can feed children etc) cash left 3k so 1 year is 36k. 36k exclude bonus and increment. ( lets take bonus to cover inflation,which is overall more than enough with alot more to spare) 36k ,20 years..700k+ when u around 50-60+ why not enought to retire? 70k is someone who cant even save or have but can survive while working, needless to say 700k if u are 50s or 60s Edited December 11, 2009 by Freestylers09 Link to post Share on other sites More sharing options...
Trex101 3rd Gear December 11, 2009 Share December 11, 2009 I still dont really understand. What's the point of buying extra properties in SG if one day the economy in sg is so bad and by then even if u want to sell, also no one want to take.... If I were you, I will not put all eggs in one basket. Try looking around other countries properties e.g. Aust is a good place Australia too late liao, all the property here has been driven up by FT chinaman & indian. It's a crazy property boom here, just like in Spore. Link to post Share on other sites More sharing options...
City100a Neutral Newbie December 11, 2009 Author Share December 11, 2009 Australia too late liao, all the property here has been driven up by FT chinaman & indian. It's a crazy property boom here, just like in Spore. trex please i cant find singapore definition of multi-millionaire can help please these financial course previews often tell us their founders are multi-millionaire but how about their followers negative multi-millionaire Link to post Share on other sites More sharing options...
Ngck 3rd Gear December 11, 2009 Share December 11, 2009 Vietnam will b another raising dragon in SEA..pple started or starting to go in there already vietnam is no rising dragon yet..... but got potential can only fulfill potential when the general population mindset change..... may take up to a generation for it to take place Link to post Share on other sites More sharing options...
Freestylers09 5th Gear December 11, 2009 Share December 11, 2009 thats why i say next raising dragon.. base on their gdp growth (iirc,just behind China even in 2008 and 09), we cant under estimate thier economy in near future v soon Link to post Share on other sites More sharing options...
Noobcar Clutched December 11, 2009 Share December 11, 2009 thats why i say next raising dragon.. base on their gdp growth (iirc,just behind China even in 2008 and 09), we cant under estimate thier economy in near future v soon I agree with u the Viet now is very hard working and learn thing very fast more so then those ppl in Thai and they are catching up the Thai now. A lot of Sg company have been venturing into the Vietnam market now. Link to post Share on other sites More sharing options...
Iisterry 3rd Gear December 12, 2009 Share December 12, 2009 Multi million in investable assets. In the case of properties, it excludes your primary residence. Link to post Share on other sites More sharing options...
Cartoon Neutral Newbie December 12, 2009 Share December 12, 2009 (edited) I have recently attended few financial course previews like t3b system they all keep telling me their founder are multi-millionaire i too embarass to ask them, what is actually a multi-millionaire (singapore dollars) if more than 1 million considered multi-millionaire or more than 2 million if the latter is the definition, then we have many many multi-millionaires in Singapore, many properties (private) are more than 2 million nowadays look at silversea (district 15) some medium size units are going for $4 million Multi-millionaire according to private banks are those with > USD$2mil in investable assets excluding primary residence. So for your friends, even though they have a $2mil house, but is the 2mil house fully paid up and what is their actual networth? Networth is defined as ALL ASSETS Minus ALL LIABILITIES = $X million I believe those successful trading course trainers will be multi-millionaire like Clemen Chiang.. You should know by now how they become multi-millionaire :) Edited December 12, 2009 by Cartoon Link to post Share on other sites More sharing options...
Wanderer Clutched December 12, 2009 Share December 12, 2009 I believe those successful trading course trainers will be multi-millionaire like Clemen Chiang.. You should know by now how they become multi-millionaire :) The last I heard about him is that he's involved in a legal case due to a mis-representation of his qualifications. So what happened to him? Link to post Share on other sites More sharing options...
City100a Neutral Newbie December 12, 2009 Author Share December 12, 2009 The last I heard about him is that he's involved in a legal case due to a mis-representation of his qualifications. So what happened to him? is this true doesnt the authorities check before issuing them licence Link to post Share on other sites More sharing options...
Ithunk 1st Gear December 12, 2009 Share December 12, 2009 i would think any kind of course is good....yup.... ↡ Advertisement Link to post Share on other sites More sharing options...
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