How to accumulate wealth to lve a comfortable life

[useless]

How to work harder?

What kind of question is that?
I'm sure you don't need others here to teach you how to brush your teeth and chew your food right?

 

[elnewbie]

I faced a similar situation like you did, 12 years ago. I sold a property as it wasn't generating much income, but over the years there was some equity in it.

I took the equity and invested in the U.S markets, generating 8-9% annual returns compounded.

Whatever you have spent on properties is already a sunk cost. To continue keeping the equity in properties, your lost opportunity cost is easily 6-7% a year.

Yes, like you the rent now barely covers expenses however i am not saving much any month mainly because my pay is being used for the household and in the past the extra money leftover after expenses for the other properties is being used for savings so i am afraid now that i have to work forever or atleast another 5-10 years. I know its better to sell 1 of my properties but not under this market as i sure lugi!

 

[Mecisteus]

What kind of question is that?
I'm sure you don't need others here to teach you how to brush your teeth and chew your food right?

It is quite a generic advice. It's like wahkao's buy low risk high returns stocks.

For TS case, I think he must learn to cut losses. You can absorb losses if you have sufficient liquidity and good cash inflows.

This also applies to companies. Take Noble for an example. They have to sell assets to reduce cash outflows and improve bottomlines.

This is finance 101.

 

[antonpoh]

Yes, like you the rent now barely covers expenses however i am not saving much any month mainly because my pay is being used for the household and in the past the extra money leftover after expenses for the other properties is being used for savings so i am afraid now that i have to work forever or atleast another 5-10 years. I know its better to sell 1 of my properties but not under this market as i sure lugi!

You already lugi with negative cash flow, so not much difference.

Maybe you haven't look at the property market for awhile. If bought 4yrs back should be sitting on some profit right now.

Here's a News article a few days ago.
Buyers snapped up 130 units on first day of launch

Go over each property and see which unit is sitting on profit but bleeding the most.

 

[wealth_farmer]

I don't have the life experience that TS or the other forummers who have already commented in this thread do. But it's clear to me that TS has a cashflow problem. Asset-rich but cashflow-poor as it seems his monthly salary is all tied up with household expenses. I'm not sure how much extra income your other investments bring in.

As others have mentioned, either sell a property, earn more money (I dunno what skill sets you have), get your wife to work etc etc.

My question to TS is this: if someone comes to you now with a viable biz proposal (assume it's not a scam, you've done your due diligence) and asks you to invest $200k (or whatever amount it is that is MORE than what you have now in your war chest), what actions would you take to ensure you have cash to invest in this opportunity?

 

[OngHuatHuat]

Most likely is a scam based on my life experience, I will just ignore for sure.

I don't have the life experience that TS or the other forummers who have already commented in this thread do. But it's clear to me that TS has a cashflow problem. Asset-rich but cashflow-poor as it seems his monthly salary is all tied up with household expenses. I'm not sure how much extra income your other investments bring in.

As others have mentioned, either sell a property, earn more money (I dunno what skill sets you have), get your wife to work etc etc.

My question to TS is this: if someone comes to you now with a viable biz proposal (assume it's not a scam, you've done your due diligence) and asks you to invest $200k (or whatever amount it is that is MORE than what you have now in your war chest), what actions would you take to ensure you have cash to invest in this opportunity?

 

[hyperbole]

He's struggling day to day with expenses cos he bought more properties than he can handle. Yet coming in here to ask for business ideas to become rich. If really got such business ideas, he got money to invest meh.

Stop dreaming and take responsibility of your own expenses first.

 

[wealth_farmer]

Ah I should have added, assume it's legit and not a scam.

My point is, like hyperbole pointed out, TS is stuck now but seems he doesn't want to take any action so even if a legit life-changing opportunity comes along, he wouldn't have the cash to invest either. My question was more to find out if push comes to shove, what would he do?

Most likely is a scam based on my life experience, I will just ignore for sure.

 

[OngHuatHuat]

No cash good, can avoid being scammed.

Ah I should have added, assume it's legit and not a scam.

My point is, like hyperbole pointed out, TS is stuck now but seems he doesn't want to take any action so even if a legit life-changing opportunity comes along, he wouldn't have the cash to invest either. My question was more to find out if push comes to shove, what would he do?

 

[shareholder]

No cash good, can avoid being scammed.

Holding cash is good while waiting for opportunities. Returns better than buying at elevated asset prices due to low rates and high debts.

 

[sweetyethandsome]

past few months, USA stock market keep reaching new highs.
thats a big opportunity costs for all.

anyway i think property is good because of leverage.
In general, they all go up in the long run and you benefit more because of leverage

 

[SBC]

Me with 4 kids but only 2 properties for my family, already felt very siong.

Wonder how can TS managed it.

 

[svm22m]

Me with 4 kids but only 2 properties for my family, already felt very siong.

Wonder how can TS managed it.

What is your income per annum?

 

[SBC]

What is your income per annum?

Upper range of yours. Wife is still working.

Have topped up parent's RA & my SRS every year consistently.
Parent's RA is about 45k & my SRS > 80k now.

Accumulated cash value of my insurance policies is at least 190k.

I could draw down these backup if needed to.

 

[svm22m]

Upper range of yours. Wife is still working.

Have topped up parent's RA & my SRS every year consistently.
Parent's RA is about 45k & my SRS > 80k now.

Accumulated cash value of my insurance policies is at least 190k.

I could draw down these backup if needed to.

I see but i absolutely have no money left over each month to top up SRS my wife have been saying next time we'll move to thailand to stay much cheaper and can live like a king there.

 

[svm22m]

So i guess where i can fulfill my dreams of having a few luxury cars and house is at thailand or malaysia although prices of cars in thailand also expensive i prefer there compared to malaysia as i feel malaysia very unsafe

 

[Emo_Rhino]

Thanks and more convinced now property prices can go lower

 

[Asphodeli]

Really crazy, so much cash stuck in assets

Sent from Sony E6533 using GAGT

 

[highsulphur]

just curious
if ts sells off everything except primary residence and pays off all debts, how much would you have?

 

[svm22m]

just curious
if ts sells off everything except primary residence and pays off all debts, how much would you have?

5 million if selling everything except primary residence however will only be left with 2 million because i still have a hefty loan to pay down on primary residence