Who Here Is Earning $50K/Month or More? Let’s Talk Strateg

[Bumperbee88]

Money is an idea.

Is actually redistribute to people who work for the rich.

 

[ghregular]

Me 1.6k salary before CPF has no place in this thread

got la
just stand behind a wall and peep..

 

[win_man]

This % income thingy got count in bonuses and commissions or not?

 

[cyke69sg]

This % income thingy got count in bonuses and commissions or not?

Of course.

 

[thretiredDad]

Actually, it depends on how you were brought up. I grew up poor, so no matter how much I earn, I’ll always carry that ‘poor’ mindset. But if you were born into wealth and raised with a rich mindset, your perspective will naturally be different

 

[cyke69sg]

Actually, it depends on how you were brought up. I grew up poor, so no matter how much I earn, I’ll always carry that ‘poor’ mindset. But if you were born into wealth and raised with a rich mindset, your perspective will naturally be different

True.
I can see it in my kids. The older ones are different from the younger ones.
I have changed my mindset though.
Life isn't that long. Save so much money for what in the end?
Give to kids? Reality is who knows how they will be in the future also. Do my part good enough. Do my best.

But my wife and I we should also experience as much of life as we can and wish to.

 

[Bumperbee88]

Actually, it depends on how you were brought up. I grew up poor, so no matter how much I earn, I’ll always carry that ‘poor’ mindset. But if you were born into wealth and raised with a rich mindset, your perspective will naturally be different

That's what make you rich. You actually save more. But be to good to yourself and family.

We came here with nothing , we also cannot bring wealth together when we pass-on.

 

[ahboy82]

Actually, it depends on how you were brought up. I grew up poor, so no matter how much I earn, I’ll always carry that ‘poor’ mindset. But if you were born into wealth and raised with a rich mindset, your perspective will naturally be different

Huh u poor mindset? but travel biz class with yr kids n maid?

 

[focus1974]

True.
I can see it in my kids. The older ones are different from the younger ones.
I have changed my mindset though.
Life isn't that long. Save so much money for what in the end?
Give to kids? Reality is who knows how they will be in the future also. Do my part good enough. Do my best.

But my wife and I we should also experience as much of life as we can and wish to.

don't so extreme.
can actually spend your money and still give to your kids (even if they charsiew).

 

[thretiredDad]

True.
I can see it in my kids. The older ones are different from the younger ones.
I have changed my mindset though.
Life isn't that long. Save so much money for what in the end?
Give to kids? Reality is who knows how they will be in the future also. Do my part good enough. Do my best.

But my wife and I we should also experience as much of life as we can and wish to.

Passing it all to my
children, nephew and nieces
i am now considering to write a will

if not my wife going to pass it
to her family, nephew and nieces
without leaving a single cents for my nephew and nieces

That's what make you rich. You actually save more. But be to good to yourself and family.

We came here with nothing , we also cannot bring wealth together when we pass-on.

That’s why i quit my full time job
and WFH to focus on my children

 

[cyke69sg]

That's what make you rich. You actually save more. But be to good to yourself and family.

We came here with nothing , we also cannot bring wealth together when we pass-on.

Even more sad are those who became incredibly wealthy but then struck with incurable neurological illnesses like Pseudobular Palsy, Multisystem Atrophy, Progressive Supranuclear palsy, amyotrophic lateral sclerosis, Parkinson's Lewy body dementia.

Cannot walk. Cannot talk. Cannot eat. Cannot breathe. SLOWLY.

Lose everything except their money.

They would give everything to go back to being normal and have no money. Seriously.

 

[Philipkee]

Money is an idea.

From what I read, no

Money is a promise. It is a promise by the issuing authority, usually the central bank of a country, to pay the bearer a value equivalent to the value written on the money note/coin.

That’s why crypto is so dangerous. There is no issuing authority

 

[thretiredDad]

Huh u poor mindset? but travel biz class with yr kids n maid?

i am still living in the past
wearing my $9.90 Uniqlo
and fake croc

my children wear better than me

 

[cyke69sg]

don't so extreme.
can actually spend your money and still give to your kids (even if they charsiew).

I didnt say spend all my money and leave nothing. I will be leaving lots already. Good enough.

But the context of my comment was in reply to @thretiredDad about always having poor mentality.

 

[cyke69sg]

Passing it all to my
children, nephew and nieces
i am now considering to write a will

if not my wife going to pass it
to her family, nephew and nieces
without leaving a single cents for my nephew and nieces

Yes you should write your will. Also must write it carefully.

I encountered some rich people before the husband suffering but say things like must outlive his wife who has dementia

Cos if he die his assets go to wife. And his wife will distribute assets to his step children only.

Meanwhile he himself already some dementia
So if he amend his will now it will be challenged.

Untenable situation for him.

That’s why i quit my full time job
and WFH to focus on my children

My guess is you are not a dad.

 

[cyke69sg]

i am still living in the past
wearing my $9.90 Uniqlo
and fake croc

my children wear better than me

I wear clothes from Costco. Good and cheap. Same for shoes.

But I also buy clothes for my younger ones from Costco. Older ones buy their own.

 

[cyke69sg]

From what I read, no

Money is a promise. It is a promise by the issuing authority, usually the central bank of a country, to pay the bearer a value equivalent to the value written on the money note/coin.

That’s why crypto is so dangerous. There is no issuing authority

It was the idea of this promissory system that gave birth to money.

 

[cyke69sg]

Seems like a common trait of very rich people who are self made is prudence in spending.

 

[thretiredDad]

Seems like a common trait of very rich people who are self made is prudence in spending.

https://streamable.com/3s2t0k

this is very true
i always remember this teaching
in the video

having money is just a process

 

[cyke69sg]

https://streamable.com/3s2t0k

this is very true
i always remember this teaching
in the video

having money is just a process

Warren Buffett also same.
Khoo Teck Phuat was also very thrifty.