What are some of the enterprises that can be set up with a small capital apart from running a porn site?
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retirement 101
- Thread starter zhihau
- Start date
What are some of the enterprises that can be set up with a small capital apart from running a porn site?
Service related enterprises that target a niche market.
EG : This niche has been a money spinner in recent years. Because I hate working on databases, I sub contract all the work out whenever any of my projects involves database management.
There are many others... custom air brushing, antique restoration, Personal trainer, personal shopper, 1-900 phone services, office equipment leasing, manufacturers representative, resume service, secretarial service etc.
Manufacturers' rep in particular can be very lucrative, I actually did the job for a couple of years.. lots of travel and many dead ends but all it took was one good deal and it made me USD200,000 in commissions in 18 months. You have to know the industry though or you won't have credibility.
What a cop out! There goes the "enterprise" gene theory.thanks for the replies, i can only foresee that most Singaporeans are fucked
thanks for the replies, i can only foresee that most Singaporeans are fucked
I reckon you asking if a salaried person can retire in Singapore.
I not too sure if I can retire at 55 in 21 years time. But this is what I have done so far.
Paid off my HDB 4 room flat which cost $125,000 at 28.
After 5 years, I have accumulated the current CPF minimum sum of $117,000. Transferred the lump sum into Special account leaving it to compound at 4% interest. The required minimum sum when I hit 55 in 2031, will be $249,000. Leaving it in the special account, the current $117,000 compounding at 4% will generate the $249,000 required.
For the next 21 years, what ever I accumulate in CPF, I will be should be able to withdraw it as cash when I am 55. (Unless the goal post is shifted again). I calculated it should be around $420k. ( I have been working in the same company for 11 years; assumptions: there is no increase in the current remuneration package)
If the HDB 4 room flat gets En Bloc when I am age 50-54, I will pledged it as half the minimum sum required, in order withdraw more cash out of the system.
So far, my colleague who is the same age as me, who inherited a HDB 4 room from his parents, also parked $117,000 in his special account leaving it to compound at 4% interest.
As he did not purchase a HDB flat, he calculated he can withdraw $550,000 from CPF when he hit 55 in 2031.
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Assuming an inflation rate of 4%, $550,000 will be worth only $251,000 in today's money.
It won't get him very far.
It is very hard to save sufficient $$$ on a salary in the money isn't invested to return a rate which is at least 1.5 times the rate of inflation.
The best place to invest ones saving is in a company that YOU own. That way, you have complete control of how the company runs.
What a cop out! There goes the "enterprise" gene theory.
what an iDiot! i said most Singaporeans, i'm minority :p:p:p
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