Target networth

[limster]

15 months ago

https://deluxeforums.hardwarezone.c...al-advice-opinions-5626145.html#post108277970

You and your wife earning power are good, in just 15 month, your stock portfolio doubled and you got one more condo fully paid for

At the pace of your earning curve, i think both you and your wife target of $10m is very achieveable before 50

Its good that all these HNW investors are willing to share their experience in MM/SSI.

Like I always say, do you want to learn how to make money from someone with no money, or from someone with money?

 

[Oldnerd79]

Am aiming for 500k before 45 years old if im still single. Provided im still working in my industry.

Cash? Why only can aim for this when single??

My new aim after paying off my mortgage is to try saving 100% of my take home pay and live on rental income n dividends+interests. I think that's a good way to test if I can stop working and rely on my passive income.

 

[buttercracker]

Can see many money minders are early birds.

 

[Sinkie]

Cash? Why only can aim for this when single??

My new aim after paying off my mortgage is to try saving 100% of my take home pay and live on rental income n dividends+interests. I think that's a good way to test if I can stop working and rely on my passive income.

Don't need to pay income tax?

 

[havetheveryfun]

Its good that all these HNW investors are willing to share their experience in MM/SSI.

Like I always say, do you want to learn how to make money from someone with no money, or from someone with money?

but most of the time, someone with money is asking someone with no money on what to do with their monies

 

[WindBoi]

I came to this forum to search for esaver stuff and i realize i see a lot astounding high net worth folks at such a young age.

Most of all this thread have remained sensible in discussion and it seems it mirrors the folks here.

Limster posted my Stages of Wealth and there was an updated one but he somehow thinks that **** you money is disrespectful. Well its a term people know better. but I listened and here is the revise one. so it does help people aim for some medium term milestones before you actually build up a lot of money.

one thing is that financial security and 10 years of annual expenses... might precede one another. it very much depends on your annual expenses and the rate of return.

 

[Oldnerd79]

Don't need to pay income tax?

Income tax and all other living expenses will be paid from passive income. Except for holidays and parents' allowance and other discretionary spending which will be paid from year end bonuses.

Meaning I'm only aiming to save 100% of 12 months salary. Try out only.

 

[Thoreldan]

What are components of networth ?
Cash deposits
Investment portfolio
Cpf ?
Investment properties ?
Property you're currently staying in ?
Minus all debts.

 

[What2do4life]

What are components of networth ?
Cash deposits
Investment portfolio
Cpf ?
Investment properties ?
Property you're currently staying in ?
Minus all debts.

Yup, networth = assets - liabilities.

Posted with HardwareZone Forums app

 

[What2do4life]

The most funny thing here in this forum is that there are just a bunch of people, someone who has little money and little track record of high CAGR returns over long period claiming that the others (even those with high CAGR returns over long period and have money as a result) that they don't understand investment etc blah blah blah!

Let keep this thread real and relevant guys!
Make love, not war!

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[revhappy]

Its good that all these HNW investors are willing to share their experience in MM/SSI.

Like I always say, do you want to learn how to make money from someone with no money, or from someone with money?

His family income is 350k. He can take risk on 1m condo, that is like 3 times their annual income. You can't expect people with 100k income to take the same level of risk.

Sent from Dont Take Any Of My Statment As Investment Advice. Do Your Own Due Diligence. using GAGT

 

[revhappy]

The most funny thing here in this forum is that there are just a bunch of people, someone who has little money and little track record of high CAGR returns over long period claiming that the others (even those with high CAGR returns over long period and have money as a result) that they don't understand investment etc blah blah blah!

Just because you took high risk and it worked out doesn't make it a sound advice for everyone. It is like you jumped across a running train, in fast and furious style, and didn't get hit, so you tell everyone to do it?

Sent from Dont Take Any Of My Statment As Investment Advice. Do Your Own Due Diligence. using GAGT

 

[minamikaze]

Wow, you actually went to look for my old thread Yes, I've been quite lucky with my job and stocks in the last 15 months, and went (against advice) to buy a 2nd property, because we found a good place with good rental yield and tenants. It also helps that that 2nd property has already appreciated ~100K since we bought it, and it's a place that we'd be happy to stay in as well, if it comes to that.

Unfortunately, it doesn't look like our income can increase too much from here on. Neither of us are in the lucrative/fast-growing banking sector with fat bonuses and income growth, and I'm making the majority of that income - plus I'm not in a role that has a fast-growing salary. Feels like I'm hitting a ceiling actually - but I'm happy with my job so it's all good.

But we are not necessarily looking for 10M networth - we both lead rather simple lives, and the truth is, in SG you can have a high quality of life while spending quite little. Just wanted to hear from those who might be in the same boat in the past about what they did (did they pay off their house fast, or continue to grow their wealth aggressively since they are still somewhat "young", or choose to migrate to a cheaper country to live like a king etc etc). It's interesting to hear new opinions and thoughts, even if I may or may not follow them in the future.

Thanks!

15 months ago



https://deluxeforums.hardwarezone.c...al-advice-opinions-5626145.html#post108277970

You and your wife earning power are good, in just 15 month, your stock portfolio doubled and you got one more condo fully paid for

At the pace of your earning curve, i think both you and your wife target of $10m is very achieveable before 50

 

[Sinkie]

Wow, you actually went to look for my old thread Yes, I've been quite lucky with my job and stocks in the last 15 months, and went (against advice) to buy a 2nd property, because we found a good place with good rental yield and tenants. It also helps that that 2nd property has already appreciated ~100K since we bought it, and it's a place that we'd be happy to stay in as well, if it comes to that.

Unfortunately, it doesn't look like our income can increase too much from here on. Neither of us are in the lucrative/fast-growing banking sector with fat bonuses and income growth, and I'm making the majority of that income - plus I'm not in a role that has a fast-growing salary. Feels like I'm hitting a ceiling actually - but I'm happy with my job so it's all good.

But we are not necessarily looking for 10M networth - we both lead rather simple lives, and the truth is, in SG you can have a high quality of life while spending quite little. Just wanted to hear from those who might be in the same boat in the past about what they did (did they pay off their house fast, or continue to grow their wealth aggressively since they are still somewhat "young", or choose to migrate to a cheaper country to live like a king etc etc). It's interesting to hear new opinions and thoughts, even if I may or may not follow them in the future.

Thanks!

Oh because your nick was rather familiar, so went to look back to confirm, so you are still staying in your relative house while renting out the 2 condo for passive income? How big are your 2 condo? Both shoebox?

 

[malthead]

Wow, you actually went to look for my old thread Yes, I've been quite lucky with my job and stocks in the last 15 months, and went (against advice) to buy a 2nd property, because we found a good place with good rental yield and tenants. It also helps that that 2nd property has already appreciated ~100K since we bought it, and it's a place that we'd be happy to stay in as well, if it comes to that.

Unfortunately, it doesn't look like our income can increase too much from here on. Neither of us are in the lucrative/fast-growing banking sector with fat bonuses and income growth, and I'm making the majority of that income - plus I'm not in a role that has a fast-growing salary. Feels like I'm hitting a ceiling actually - but I'm happy with my job so it's all good.

But we are not necessarily looking for 10M networth - we both lead rather simple lives, and the truth is, in SG you can have a high quality of life while spending quite little. Just wanted to hear from those who might be in the same boat in the past about what they did (did they pay off their house fast, or continue to grow their wealth aggressively since they are still somewhat "young", or choose to migrate to a cheaper country to live like a king etc etc). It's interesting to hear new opinions and thoughts, even if I may or may not follow them in the future.

Thanks!

Life is alot easier to plan without kids. You don't intend to have kids at all?

 

[existential_reality]

Sounds like you guys are quite good at property hunting, most investors are usually gunning for new built properties. I take it you bought with existing tenancy?

Wow, you actually went to look for my old thread Yes, I've been quite lucky with my job and stocks in the last 15 months, and went (against advice) to buy a 2nd property, because we found a good place with good rental yield and tenants. It also helps that that 2nd property has already appreciated ~100K since we bought it, and it's a place that we'd be happy to stay in as well, if it comes to that.

Unfortunately, it doesn't look like our income can increase too much from here on. Neither of us are in the lucrative/fast-growing banking sector with fat bonuses and income growth, and I'm making the majority of that income - plus I'm not in a role that has a fast-growing salary. Feels like I'm hitting a ceiling actually - but I'm happy with my job so it's all good.

But we are not necessarily looking for 10M networth - we both lead rather simple lives, and the truth is, in SG you can have a high quality of life while spending quite little. Just wanted to hear from those who might be in the same boat in the past about what they did (did they pay off their house fast, or continue to grow their wealth aggressively since they are still somewhat "young", or choose to migrate to a cheaper country to live like a king etc etc). It's interesting to hear new opinions and thoughts, even if I may or may not follow them in the future.

Thanks!

 

[minamikaze]

Oh because your nick was rather familiar, so went to look back to confirm, so you are still staying in your relative house while renting out the 2 condo for passive income? How big are your 2 condo? Both shoebox?

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

Life is alot easier to plan without kids. You don't intend to have kids at all?

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.

 

[malthead]

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.

That's a fair point. Here's to early retirement then

 

[limster]

I came to this forum to search for esaver stuff and i realize i see a lot astounding high net worth folks at such a young age.

Most of all this thread have remained sensible in discussion and it seems it mirrors the folks here.

Limster posted my Stages of Wealth and there was an updated one but he somehow thinks that **** you money is disrespectful. Well its a term people know better. but I listened and here is the revise one. so it does help people aim for some medium term milestones before you actually build up a lot of money.

one thing is that financial security and 10 years of annual expenses... might precede one another. it very much depends on your annual expenses and the rate of return.

wow thanks for the revised version. removing the *** U money part makes it more family friendly when I want to discuss with relatives and friends on finances....

Also, I just jumped from stage 4 to stage 7! Now working towards stage 8

 

[Incognito1979]

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.

Hmm nobody's born a great parent. It's easier to retire earlier with no kids, especially on dual income if both grads. But I'm just thinking. So you don't intend to have kids, and then you've accumulated all the networth. And well after you retire and all that where's it going to?

It just tickles my curiosity because I see quite a number of single high flying folks working their butts off till old age accumulating all that wealth for I m not sure what.