How to accumulate wealth to lve a comfortable life

[svm22m]

I'm sorry if this question have been asked before but i want ideas and tips all kinds (particularly investment like REITs ,properties,stocks,). I want to live a better than average life , now have 4 child maybe have quite a few cars and bigger landed house to stay in.Range can imput from whether or not to put money in the CPF to gain interest or invest cash elsewhere(e.g fixed deposits).Or maybe even starting a business like F&B chain/ seafood restaurant to make it big one day.Thanks.!

 

[unhinged_loon]

I'm sorry i this question have been asked before but i want ideas and tips all kinds (particularly investment like REITs ,properties,stocks,). I want to live a better than average life , have 1 child maybe have quite a few cars and a landed house to stay in.Range can imput from whether or not to put money i the CPF to gain interest or invest cash elsewhere(e.g fixed deposits).Or maybe even starting a business like F&B chain/ seafood restaurant to make it big one day.Thanks.!

Become an insurance agent.

 

[iperiodic]

Become an insurance agent.

+1

I laughed.

 

[Aaron_soh80]

Become pap mp?

 

[sAVaGEmP5]

I'm sorry i this question have been asked before but i want ideas and tips all kinds (particularly investment like REITs ,properties,stocks,). I want to live a better than average life , have 1 child maybe have quite a few cars and a landed house to stay in.Range can imput from whether or not to put money i the CPF to gain interest or invest cash elsewhere(e.g fixed deposits).Or maybe even starting a business like F&B chain/ seafood restaurant to make it big one day.Thanks.!

Are u a millennial or Gen Y ??

 

[iperiodic]

To be on topic, maybe you can share what kind of ways you are looking at in order to reach your goals?

For example, I earn X amount and wish to know where I can invest my money in for safe returns etc.

Or if you want to start a business, some specifics would be helpful?

 

[koja6049]

comfortable life means you just need to manage your expectations. Not really about accumulating wealth, because the more you accumulate, the more you spend, the less you feel content with life.

 

[havetheveryfun]

I'm sorry i this question have been asked before but i want ideas and tips all kinds (particularly investment like REITs ,properties,stocks,). I want to live a better than average life , have 1 child maybe have quite a few cars and a landed house to stay in.Range can imput from whether or not to put money i the CPF to gain interest or invest cash elsewhere(e.g fixed deposits).Or maybe even starting a business like F&B chain/ seafood restaurant to make it big one day.Thanks.!

look for those people who are living the life you are thinking of, find some way to ask them how they did it. if they are ah seah kia, then move on, find those that made it from a low to middle income family.

 

[cybercom8]

pick one growth stock in usa...dump $100k on it...look at it again in 10 years time

may become millionaire or multi millionaire

 

[wahkao3]

pick one growth stock in usa...dump $100k on it...look at it again in 10 years time

may become millionaire or multi millionaire

buying that growth stock now!!

 

[svm22m]

Yes i earn $7000-$10 000 p/m. I don't want to sound like a brag but it pays much lesser than my previous job 10 years ago when the financial crisis hit. Though this may seem like alot to some of the forumers here , keep in mind i have 4 children. My youngest child only 6. Although i own multiple properties, my bank account has been bleeding partly due to the bad housing market, resulting in lower rental yields, higher cost of living and stagnant salary.My salary will be used up quite quickly and sometimes i maybe have problems paying $1000-$2000 during month end for premiums or loans

However, i believe and have always wanted to start my own business. Speaking about that i am well aware of the amount of money and time needed to invest in a business idea as i have opened dessert shop in the past(15 years ago) .I believe i did not succed in the past because at that time ppl's spending power is much lower compared to today's. I always looked at brands like (tuktuk cha , llao llao) who have been expanding rapidly in past years.There is something in me which feel like creating/bringing in
something like that,something that i could depend on and earn a steady for my children needs like education and by the time my youngest child reaches sec school i would already be in my 50s. Appreciate everyones help on how to improve my current situation

 

[svm22m]

my stock portfolio now left unit trusts.

 

[OngHuatHuat]

Your situation the same as mine, just that I have no kid yet.
How much is your average income? Is it inclusive of rentals?

Yes i earn $7000-$10 000 p/m. I don't want to sound like a brag but it pays much lesser than my previous job 10 years ago when the financial crisis hit. Though this may seem like alot to some of the forumers here , keep in mind i have 4 children. My youngest child only 6. Although i own multiple properties, my bank account has been bleeding partly due to the bad housing market, resulting in lower rental yields, higher cost of living and stagnant salary.My salary will be used up quite quickly and sometimes i maybe have problems paying $1000-$2000 during month end for premiums or loans

However, i believe and have always wanted to start my own business. Speaking about that i am well aware of the amount of money and time needed to invest in a business idea as i have opened dessert shop in the past(15 years ago) .I believe i did not succed in the past because at that time ppl's spending power is much lower compared to today's. I always looked at brands like (tuktuk cha , llao llao) who have been expanding rapidly in past years.There is something in me which feel like creating/bringing in
something like that,something that i could depend on and earn a steady for my children needs like education and by the time my youngest child reaches sec school i would already be in my 50s. Appreciate everyones help on how to improve my current situation

 

[koja6049]

Yes i earn $7000-$10 000 p/m. I don't want to sound like a brag but it pays much lesser than my previous job 10 years ago when the financial crisis hit. Though this may seem like alot to some of the forumers here , keep in mind i have 4 children. My youngest child only 6. Although i own multiple properties, my bank account has been bleeding partly due to the bad housing market, resulting in lower rental yields, higher cost of living and stagnant salary.My salary will be used up quite quickly and sometimes i maybe have problems paying $1000-$2000 during month end for premiums or loans

However, i believe and have always wanted to start my own business. Speaking about that i am well aware of the amount of money and time needed to invest in a business idea as i have opened dessert shop in the past(15 years ago) .I believe i did not succed in the past because at that time ppl's spending power is much lower compared to today's. I always looked at brands like (tuktuk cha , llao llao) who have been expanding rapidly in past years.There is something in me which feel like creating/bringing in
something like that,something that i could depend on and earn a steady for my children needs like education and by the time my youngest child reaches sec school i would already be in my 50s. Appreciate everyones help on how to improve my current situation

what you lack are priorities. children's education funds, or funds for business, choose one. business ideas are only trial and error, it depends too much on the economic climate and right timing, so you need to risk it all if you want to succeed

 

[svm22m]

Your situation the same as mine, just that I have no kid yet.
How much is your average income? Is it inclusive of rentals?

$7000-$10 000 is my average income not including rentals for the properties but the rental for properties will be used to pay for loans of the house and the moment, dont seem like i can quickly dump all the money to repay the loaner faster to prevnt mney being paid for interest rate with fed rate likely to go higher again with trump in office.

 

[frenchbriefs]

What kind of comfortable life do you have in mind?

 

[doody_]

Your life will be instantly more comfortable if you sell some of your properties.... sounds like you're barely maintaining your lifestyle. Sometimes less is more.

 

[svm22m]

What kind of comfortable life do you have in mind?

For example maybe a porsche(fun car to drive), a used one i dont mind. Can relax life, no need work.Can fly to malaysia or thailand cos cheap whenever i want.Eat whatever i want, buy anything i want. Not as in restaurant and luxury goods but just a pretty decent life.

 

[svm22m]

Your life will be instantly more comfortable if you sell some of your properties.... sounds like you're barely maintaining your lifestyle. Sometimes less is more.

I truly agreee and selling even 1 of them will give me a breath of fresh air i needed for so long...however, i am unwilling to sell under such market and want to take a wait and see approach for the next 3 years

 

[Yachtmaster]

From I left my trading job while young and started a few businesses I have never looked back since. All of them operate without me now and all I do is count my money. I don't rely on cpf/investments to retire but I do have a few properties though.

I'm sorry if this question have been asked before but i want ideas and tips all kinds (particularly investment like REITs ,properties,stocks,). I want to live a better than average life , now have 4 child maybe have quite a few cars and bigger landed house to stay in.Range can imput from whether or not to put money in the CPF to gain interest or invest cash elsewhere(e.g fixed deposits).Or maybe even starting a business like F&B chain/ seafood restaurant to make it big one day.Thanks.!