For an average joe in his 40s, the only way to level up in life is through investing/trading

[cyke69sg]

But need capital to invest still, nt easy if no rich family or elite job.

Agree.
Which is why for the kids the parents have to aim to become rich. But once rich then kids dont have to so crazy study hard for what? More important is know what is investing and how to make money work for you not other way round.

 

[Reborn]

At this age, there is not much chance of any significant career progression already (can keep current job is already a challenge for some)

Career switch to a different industry also quite impossible since no companies will be willing to hire an old worker with no experience in the relevant field

Starting own business will involve significant financial risks and at this age, one don't really have the time horizon to start all over again if the business venture fails

The most probable way to achieve financial freedom will be through regular investing - pick good stocks and hold for the long term or if one is lucky, find a few meme stocks or crypto coins that can surge multi folds

Investing is also one of the things that has a pretty level playing field - You don't need to have connections or network, born in rich family etc

Just willingness to put in the effort and time to be familiar with the financial markets and there lots of information available online these days

its also a way to level down

 

[cyke69sg]

I think someone with an average job but strong investment portfolio might do better than another person with a high paying job but no investing mindset over the long run

Of course cannot compare say someone earning $3k vs a director earning $300k per annum

I tell you earn $600k p.a and don't invest also do poorer than one who earn $100k p.a and invests.

Investing trumps.

Of course if you earn $600k p.a then jolly well invest it well for the kids. 1 year earn 10 years of what the kids are earning. If parent works 10 years that's 100 years worth of earnings of the kids. And can invest some more.

You see the potential and power there?

 

[Spike]

Cant believe TS hasnt created a weather thread this week...

Best is to start investing young. Pick a ETF and be in the long gain..

Doable for u since u are still young.

 

[Kuudere]

Cant believe TS hasnt created a weather thread this week...

Best is to start investing young. Pick a ETF and be in the long gain..

Buy house, stay until MOP, rent out, then go overseas find place to rent and have fun

At this age, there is not much chance of any significant career progression already (can keep current job is already a challenge for some)

Career switch to a different industry also quite impossible since no companies will be willing to hire an old worker with no experience in the relevant field

Starting own business will involve significant financial risks and at this age, one don't really have the time horizon to start all over again if the business venture fails

The most probable way to achieve financial freedom will be through regular investing - pick good stocks and hold for the long term or if one is lucky, find a few meme stocks or crypto coins that can surge multi folds

Investing is also one of the things that has a pretty level playing field - You don't need to have connections or network, born in rich family etc

Just willingness to put in the effort and time to be familiar with the financial markets and there lots of information available online these days

If single, quite easy mode, just buy flat, rent out rooms or entire unit = income source

Then funnel that income to invest or spend = financial freedom

 

[Spike]

But need capital to invest still, nt easy if no rich family or elite job.

I would like to add on that besides needing capital to invest, need to cover living expenses, as well as generate income from other sources so as to have even more capital to take advantage of opportunities.

 

[miyaki]

That's why I taught my 6yr old kid what's btc, stocks and reits, next will be 8th wonder of the world - compounding interest

 

[N4E.SI]

Buy house, stay until MOP, rent out, then go overseas find place to rent and have fun

If single, quite easy mode, just buy flat, rent out rooms or entire unit = income source

Then funnel that income to invest or spend = financial freedom

That is what I have been doing

Extra passive income every mth

Can invest, go holidays or go spa

 

[firestyle]

I think someone with an average job but strong investment portfolio might do better than another person with a high paying job but no investing mindset over the long run

Of course cannot compare say someone earning $3k vs a director earning $300k per annum

Depends also.

If the $300k per annum director indulges in lifestyle inflation, while the regular $3k per month person exercises delay gratification and consistent DCA, then the latter will surely fare better than the prior over long term.

 

[Heriophant]

That's why I taught my 6yr old kid what's btc, stocks and reits, next will be 8th wonder of the world - compounding interest

JSKM.. Daddy of the Year liao

 

[Philipkee]

The probability is like 1 in 100 or 1000

Stock investing easily 70-80% chance since markets always trend up in the long term

Actually NO

the market usually trends up in the long term (usually cos there was the Great Depression and it took about two decades to recover).

What’s the difference is that if you invest in the snp500, it should trend up in the long term but the individual components can change. So if you choose to invest in the individual stocks, it might not trend up over time

So

markets trend up overtime
Individual stocks not necessarily

 

[Philipkee]

That's why I taught my 6yr old kid what's btc, stocks and reits, next will be 8th wonder of the world - compounding interest

IMHO there should be talks on this in primary school and secondary school. Just some basics

Can combine this with anti scam talks involving quick rich schemes

 

[freshsoapsmell]

I invest a lot in facial products hope one day can get sugar mummy

 

[shidenx]

Or every week (2 times) 脚踏实地 & 安分守己地买 Toto

Use toto app subscription can liao

 

[1982-1994]

This is why he money no have ...

I also @Money no have
For me ,can save few hundreds a month ok already
No point to have so much of money when we have no kids

As long as I can walk and think, I'd carry on working
Having said that, I'd rely on CPFLIFE in 20 years time

If anytime I got pok from now, have to either aim for a 4r BTO or a 4r resale at standard location ,then use the sale proceeds tank for 20 years of expenses

Stress free ,live free

 

[thyler_koh]

I invest a lot in facial products hope one day can get sugar mummy

This one really up level

 

[Perishable]

At this age, there is not much chance of any significant career progression already (can keep current job is already a challenge for some)

Career switch to a different industry also quite impossible since no companies will be willing to hire an old worker with no experience in the relevant field

Starting own business will involve significant financial risks and at this age, one don't really have the time horizon to start all over again if the business venture fails

The most probable way to achieve financial freedom will be through regular investing - pick good stocks and hold for the long term or if one is lucky, find a few meme stocks or crypto coins that can surge multi folds

Investing is also one of the things that has a pretty level playing field - You don't need to have connections or network, born in rich family etc

Just willingness to put in the effort and time to be familiar with the financial markets and there lots of information available online these days

If one is good at investing, would already made it by 40 too.

You have the buy toto mindset gambler, got buy got hope cause give up on own abilities.

 

[TOKARA]

Agree!
This is not something my parents thought of and certainly not what they did. They told me to study hard. Get high paying jobs. Don't think of investing.
Was the wrong thing to do.

Not wrong

did u study hard to begin with

 

[tazzycorner]

To be fair, one still needs to have basic qualification and find a job in first place. Otherwise no money for investing/trading
Like the money which I used for investing comes from my salary that I saved regularly over the year

indeed

work is to earn money
and eventually let money work for you

 

[tazzycorner]

IMHO there should be talks on this in primary school and secondary school. Just some basics
Can combine this with anti scam talks involving quick rich schemes

we need worker ants

put your money in cpf and banks
let govt invest for u

XD