Target networth

[naveen99]

Dun ever quit unless u have enough $$$$.
But this is never enough, so dun quit!

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Do not ever quit unless you have good alternatives to keep your brain working.

 

[naveen99]

First one is 2BR, 2nd one is dual key.




I'm not in favour of kids, but we might give it some thought in the future. Don't really see the point - I don't think I'll be a good parent, and we have enough people in this world as it is. Doesn't add value to my life and I have to lock down many years of my life just for the kid.

Please do give serious thought to NOT having kids. It is going to take away lots of you precious personal time/space with no appreciation/returns at all, in most cases. Very likely, you will still be left all alone when you most need your kids, unless you have a 20 million bounty to dangle in front of them.

And it is a cruel world out there (for the kids) which is getting worst by the day.

It is going to be a life long of unnecessary worries. Spend the same time, effort and money on yourself.

 

[naveen99]

If i were to co-sign with spouse, i will be subjected to ABSD.

The idea is to avoid ABSD with her first purchase but she is not working. Will the bank give her a loan?

Even for equity financing (loan given out based on assets) the applicant still needs to have an income based on my previous experience unless the rules have changed.

 

[naveen99]

then what's the point of having a target in the first place?

It is a moving target which will keep moving until one suddenly drops dead.

 

[Mecisteus]

For your own stay leasehold is perfectly fine but for investment properties if you invest/have any property with lease of less than 80 years, it will not bring you the same returns as Freehold properties. Do not bet on the current new leasehold projects going en-bloc and making a pot of gold down the road as they are already so tightly built up.

If you do invest in leasehold now, get out of it before the lease goes below 80 years and reinvest in newer leasehold properties.

You are paying a premium for a freehold property.

Buying a freehold property does not necessarily mean you can make good returns.

The returns is still a function of the price you paid and the rate of appreciation.

I believe you mean to get out of if lease already 80 years old. That means, remaining lease is 99-80 years.

Yes the value of leasehold property will be greatly affected here.

If the leasehold property has 80 years more to go, the decay is not a factor.

You can just do a simple present value cashflows of a property rented out for $2.5k per month for the next 80 years.

This leasehold property has a PV of $2.4M assuming discount rate and inflation are 0%.

So it doesn't make sense for a leasehold property with 80 years remaining to value at significantly lower than $2.4M.

 

[peterchan75]

So it doesn't make sense for a leasehold property with 80 years remaining to value at significantly lower than $2.4M.

$2.4M amortize over 80 yrs is $2.5K per month. Might as well, rent a terrace house or condo. Don't have to worry about cash for down payment and mortgage.

 

[revhappy]

Dun ever quit unless u have enough $$$$.
But this is never enough, so dun quit!

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No lah, for everything there is a threshold. When you just start off with your career, you have no choice but do whatever your boss say, but as you grow in your career you can dictate your own terms. I have faced this before, there is a company I stayed for only 6 months and quit without a confirmed offer in hand because the boss was a asshole. I was ready to go to India and work if no job offer came through.

So after a certain point you will realize, that money is not so important and you will be willing to take risks.

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[What2do4life]

No lah, for everything there is a threshold. When you just start off with your career, you have no choice but do whatever your boss say, but as you grow in your career you can dictate your own terms. I have faced this before, there is a company I stayed for only 6 months and quit without a confirmed offer in hand because the boss was a asshole. I was ready to go to India and work if no job offer came through.

So after a certain point you will realize, that money is not so important and you will be willing to take risks.

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Obviously i have not reached that level that i can dun give a ****. Sad but thats reality.

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[Mecisteus]

$2.4M amortize over 80 yrs is $2.5K per month. Might as well, rent a terrace house or condo. Don't have to worry about cash for down payment and mortgage.

Yup. Whatever the current price and rental may be, I was just giving an example that when a leasehold property has 80 years remaining, the decay is not a factor yet.

 

[havetheveryfun]

Obviously i have not reached that level that i can dun give a ****. Sad but thats reality.

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not dont give a ***, but maybe after a few years u might have enough savings that u can afford to take a break for a few months.. compared to at the start where u have to secure a job before quitting ur current one.. maybe due to student loan debts or whatnot..

 

[Incognito1979]

Please do give serious thought to NOT having kids. It is going to take away lots of you precious personal time/space with no appreciation/returns at all, in most cases. Very likely, you will still be left all alone when you most need your kids, unless you have a 20 million bounty to dangle in front of them.

And it is a cruel world out there (for the kids) which is getting worst by the day.

It is going to be a life long of unnecessary worries. Spend the same time, effort and money on yourself.

Wow what pessimism. Lol. Well I'm enjoying my time as a parent. Of course there are ups and downs to parenthood. But the joy when I come back from a hard day at work and my kids welcome me back, the jokes they crack, the cards they make for me during birthday, the reminders during the whole week to tell me it's my birthday, seeing them pray for me and others, seeing the kindness and empathy they show for others. Well the hard work is worth it and it's just a divine feeling and one that I would never trade for anything else.

 

[What2do4life]

Wow what pessimism. Lol. Well I'm enjoying my time as a parent. Of course there are ups and downs to parenthood. But the joy when I come back from a hard day at work and my kids welcome me back, the jokes they crack, the cards they make for me during birthday, the reminders during the whole week to tell me it's my birthday, seeing them pray for me and others, seeing the kindness and empathy they show for others. Well the hard work is worth it and it's just a divine feeling and one that I would never trade for anything else.

Yes without family and kids what is there to life?

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[Toni90]

i enjoy travelling but i would like to go for a long trip and not those 1-2 weeks holiday you take from work. Clearly i need to make a choice between to pursue that 6 month holiday vs bringing back the bacon (for the family)

Have u ever got a 6 month trip before?

 

[revhappy]

Wow what pessimism. Lol. Well I'm enjoying my time as a parent. Of course there are ups and downs to parenthood. But the joy when I come back from a hard day at work and my kids welcome me back, the jokes they crack, the cards they make for me during birthday, the reminders during the whole week to tell me it's my birthday, seeing them pray for me and others, seeing the kindness and empathy they show for others. Well the hard work is worth it and it's just a divine feeling and one that I would never trade for anything else.

Agree. A child is just like an extension of you. The way I look at it. I feel so proud when my daughter does great stuff, it is like I did it. Of course she is an individual in her own right, but my genes are in her so that makes me feel, she is like my future.

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[What2do4life]

Agree. A child is just like an extension of you. The way I look at it. I feel so proud when my daughter does great stuff, it is like I did it. Of course she is an individual in her own right, but my genes are in her so that makes me feel, she is like my future.

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To be fair, they can be a pain too!

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[Flearnstoinvest]

Yes without family and kids what is there to life?

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Lol...you should take a peek into the childfree life...

 

[revhappy]

Lol...you should take a peek into the childfree life...

Life is child free before you have a child, so everyone knows it. Maybe it is you who should take a peek into a parental life.

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[Mecisteus]

It is meaningless to marry with no plans to have kids.

You can just live in with your gf without tieing the knot.

Don't need to spend on weddings.

 

[Sinkie]

Lol...you should take a peek into the childfree life...

Marry but with no plan for child is marry for what? Earn so much then donate to charity when one pass on?

Family and children are my source of motivation to work hard and continue making money, or else I would have stopped working myself

 

[revhappy]

Marry but with no plan for child is marry for what? Earn so much then donate to charity when one pass on?

Family and children are my source of motivation to work hard and continue making money, or else I would have stopped working myself

Exactly. Our daughter's schooling routine is the main part of our lives. My wife passes most of her time, dropping my daughter to school, picking her up, teaching her. Without that she will be bored to hell. She also hates going to work like me. I have no choice but she can enjoy stay at home mom, life.

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