CloudJames
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- Dec 10, 2010
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Hi all.
Currently I am 25 year old.
Only got 10k savings.
I want to continue saving until 35/40 years old to earn passive income. My income about 3k. I usually put 30%-40% of my income as savings. (Some months use more because of entertainment expenses e.g PC, Games, Movies.) I am trying to calculate is it enough by the time I reach 35/40 years old. What entertainment I must sacrifice. I am more focused on learning to earn 15%-20% of my investment. If can get more, lagi better. I got a few ideas. But I need advice and opinion. Warning first ar, some of my ideas may make you all face palm... lol. Because a lot of things I still don't understand and still learning so be harsh with the advice so I can learn.
Property
I have no idea on the return on investment on buying and selling property. Last time I post here ask here about buy condo. Many people gave me a lot of good advice. I really cannot affoed condo and rent out. Seems like a bad financial idea.
Now what if when I reach 35 year old. I buy BTO flat. I still stay with my mum but I rent out the BTO flat. I calculated like this. I may have missed out a lot of other factors so please be harsh with the advice so I can learn. I only did the approximation
BTO flat 3-room - $180,000
Downpayment - $60,000
Monthly installments @ 2.5% interest, 15 years- approximately $900. (I use POSB interest rate.)
Rental whole flat - $5,000 (I see advertisement and call them one.)
1 year returns : $60,000
End of year ROI - $60,000 ÷ [60,000 + ($900 X 12)] = 84% approximately.
Like that calculate. Got wrong or not?
I think already. I can afford every month pay.
So even no one rental also never mind. I can tahan "no rent money" for 6 months. But do you think this idea is bad or are there things that I have no considered yet? Please teach me!
Investment
I see all the investment... all less than 10% one sia. But I read got people play stocks and forex earn 15%-20% per year. Don't know real or not.
The thing is I am willing to put in time to learn. But I don't know where to start. There are so many informations out there. What is the "right" way of learning?
I also downloaded many Forex and Stocks app. But 1 problem I notice. They don't let you demo stocks one. Wah lao... how to learn?
So I got 2 choice.
(1) Rent out house
(2) Learn investment
Please teach me! Thank you.
Currently I am 25 year old.
Only got 10k savings.
I want to continue saving until 35/40 years old to earn passive income. My income about 3k. I usually put 30%-40% of my income as savings. (Some months use more because of entertainment expenses e.g PC, Games, Movies.) I am trying to calculate is it enough by the time I reach 35/40 years old. What entertainment I must sacrifice. I am more focused on learning to earn 15%-20% of my investment. If can get more, lagi better. I got a few ideas. But I need advice and opinion. Warning first ar, some of my ideas may make you all face palm... lol. Because a lot of things I still don't understand and still learning so be harsh with the advice so I can learn.
Property
I have no idea on the return on investment on buying and selling property. Last time I post here ask here about buy condo. Many people gave me a lot of good advice. I really cannot affoed condo and rent out. Seems like a bad financial idea.
Now what if when I reach 35 year old. I buy BTO flat. I still stay with my mum but I rent out the BTO flat. I calculated like this. I may have missed out a lot of other factors so please be harsh with the advice so I can learn. I only did the approximation
BTO flat 3-room - $180,000
Downpayment - $60,000
Monthly installments @ 2.5% interest, 15 years- approximately $900. (I use POSB interest rate.)
Rental whole flat - $5,000 (I see advertisement and call them one.)
1 year returns : $60,000
End of year ROI - $60,000 ÷ [60,000 + ($900 X 12)] = 84% approximately.
Like that calculate. Got wrong or not?
I think already. I can afford every month pay.
So even no one rental also never mind. I can tahan "no rent money" for 6 months. But do you think this idea is bad or are there things that I have no considered yet? Please teach me!
Investment
I see all the investment... all less than 10% one sia. But I read got people play stocks and forex earn 15%-20% per year. Don't know real or not.
The thing is I am willing to put in time to learn. But I don't know where to start. There are so many informations out there. What is the "right" way of learning?
I also downloaded many Forex and Stocks app. But 1 problem I notice. They don't let you demo stocks one. Wah lao... how to learn?
So I got 2 choice.
(1) Rent out house
(2) Learn investment
Please teach me! Thank you.
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