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Million dollar cash in bank now and zero debt...Anyone?


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Supersonic

Friday hongbao draw, I will be debts free and milliojs in bank

 

wishing you well with your millojs.

 

Sincerely,

 

Kusje who is thinking of how to spend his millions

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wishing you well with your millojs.

 

Sincerely,

 

Kusje who is thinking of how to spend his millions

I am thinking on how to make mine million become even more million. Leave it for my future generations. Not to spend it.

 

Currently happy with my situation so don't need the extra cash to tied over.

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To add on to what T2 said about inflation of 5%, I get it...finally

 

Last night I walk to a coffee shop to buy a packet of Kopi C Kosong. its a treat for myself. I hand over S$1.20 and the guy said its S$1.30.

 

I was shocked as why would a packet of coffee's price increase AGAIN in just 1 year?

 

I only had S$1.20 with me.. and the owner tell me to pay next time.

 

Come to think of it, I better worker harder and smarter so that I can afford to counter the inflation...imagine a packet of KOPI C Kosong cost S$ 2.80 10 years down the road..

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I don't think this question has ever been asked in this forum before. I am wondering how many here have a million cash in the bank now (not CPF) with the house they are living in now (hdb or private) fully paid and with zero debt? Please note that I am not talking about those sitting on paper assets as some bros here will probably say they can liquidate this and that property to have x millions, I am talking about those debtless people with a million cash in the bank now. 

 

If you are in this category, it would be interesting to hear what do you plan to do with your cash in the next couple of years?

 

Aiya, buy SSB la if low risk appetite. Leave 6 months of cash in account will do, keep so much also not useful.

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To add on to what T2 said about inflation of 5%, I get it...finally

 

Last night I walk to a coffee shop to buy a packet of Kopi C Kosong. its a treat for myself. I hand over S$1.20 and the guy said its S$1.30.

 

I was shocked as why would a packet of coffee's price increase AGAIN in just 1 year?

 

I only had S$1.20 with me.. and the owner tell me to pay next time.

 

Come to think of it, I better worker harder and smarter so that I can afford to counter the inflation...imagine a packet of KOPI C Kosong cost S$ 2.80 10 years down the road..

Remember about 10 yrs ago, popiahs were $1-$1.20?

Now they are $2.50 easily in many places

 

And pratas were 50-60cts

Today easily 90cts $1

 

Yes likelihood of your kopi being $2.50 is very high in 10 yrs

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(edited)

Remember about 10 yrs ago, popiahs were $1-$1.20?

Now they are $2.50 easily in many places

 

And pratas were 50-60cts

Today easily 90cts $1

 

Yes likelihood of your kopi being $2.50 is very high in 10 yrs

Same ma kim zhua the zero lạgi faster, happens everywhere Edited by CH_CO
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Supersonic

Aiya, buy SSB la if low risk appetite. Leave 6 months of cash in account will do, keep so much also not useful.

why need 6 months? I only have 3 months.

 

SSB can be turned into cash in 1 month.

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Same ma kim zhua the zero lạgi faster, happens everywhere

So i ask you to quickly burn more for me lor......

 

ATM and ATM card too as suggested by Big K

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(edited)

but SSB is limit at $100k a pop leh

sifu enye have to use whole family name + exended family + relative family to buy ... lol

 

why need 6 months? I only have 3 months.

 

SSB can be turned into cash in 1 month.

 

Edited by Wt_know
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This kinda of question is probably best ask in quora where people can go anon and answer, doubt anyone will just raise their hand and answer in the event of sounding like a pompous jacka** *(that said this forum does have its share of colorful characters)

I don't mind the colourful characters.

 

It's the pompous jackasses I don't like.

 

:D

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but SSB is limit at $100k a pop leh

sifu enye have to use whole family name + exended family + relative family to buy ... lol

 

Maybank already offering higher interest than SSB for 1 year, but of course deposit insurance at bank is up till 50k only. 

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I am thinking on how to make mine million become even more million. Leave it for my future generations. Not to spend it.

 

Currently happy with my situation so don't need the extra cash to tied over.

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Money earn by one self is most fulfilling, that's my opinion.

 

I would prefer to give my children an education and correct values than give them money only for them to be pricks in life

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Money earn by one self is most fulfilling, that's my opinion.

 

I would prefer to give my children an education and correct values than give them money only for them to be pricks in life

 

As for how much to pass on to your kids, Buffett once offered a good rule of thumb: The perfect amount to leave to your kids, he told Fortune in 1986, is ''enough money so that they would feel they could do anything, but not so much that they could do nothing.''

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