be careful....don't envy these guys too much. Some of them don't own the properties...instead the properties own them. They have to work and worry like shit to pay their mortgages and now they may find tenants hard to come by.
Still better than me.
I use all my saving. 500k to buy shares. Now incur huge paper losses.
Well. No eyes see.
If I buy property. Probably will be better than now.
...I use all my saving. 500k to buy shares. Now incur huge paper losses.
That is more than what I put into the market & in my case I diversified my investments into Spore, US, & Malaysia. Have tried forex, unit trusts & shares. Found that I made the most $$ from my US investments & lost big in forex. For me investing in Spore has been disappointing.
That is why I don't recommend anyone go into forex.
The important thing is that people start getting into the habit of investing. It's a long term thing & you won't see the results overnight. Don't blow all your $ buying cars, holidays,.... Spend only if you can afford it. I've seen too many people over leverage themselves.
I don't consider myself wealthy even though I have a few million because I know how easy it is to blow all of it. That is why I'm looking for a cheaper place than Spore
I agree that us market can give us more capital gain.
One lucky thing is most of my holding are blue chips.
So lower risk. But doesn't mean no risk.
you are still better than me. I left nothing now.
No more cash.
Unfortunately only the PAP are able to become instant millionaires.
For the rest of us it is a long road. Investing is a long term endeavor. Some investments go nowhere while others do fantastically well. It may take a while.
I have invested in ALL the blue chip IT companies e.g. DELL, HP, IBM, CISCO, LUCENT,....
However my best investment took almost 5+ years to improve. I bought Apple shares when Gil Amelio was CEO. At that time Apple shares was only about $15 & the company was not giving dividends.
I of course made losses along the way e.g. Lucent. However I never gave up & consistently put aside $ for the market rather than spending on big ticket items like cars, property, girl friends,... I even hesitated before finally deciding to buy a condo to stay & not as an investment & always worried about the mortgage until I was finally able to pay it it all off.
I don't have a lavish lifestyle & live within my means. I've seen some friends who live dangerously, servicing loans for a few properties & cars. However you don't have to take such risks to get ahead. It may take time & don't get caught up with trying to keep up with the Jonses.
Matrimonial home from hdb then upgrade to condo, that was many years ago.
2nd property,he was saying bought for if I recall correctly, 1kk, down payment of 250k. Now loan still has about 600k. Monthly payment coming to 4k. Rental just enough to cover loan and condo maintenance.
3rd property, bought for about 1.9kk, minimum down payment of 380k. Loan at 1.5kk, 20 years, monthly payment now 7.8k. Rental is about 6000. Now have to come out of pocket of almost 2200 for interest increase and condo maintenance. If rate increase some more, property number 2 might also be negative cash flow.
Yes you are correct, they are thrifty that they do not anyhow spend. Though they do own 2 cars. Both being professional
Both in late 40s, with 3 children.
Math does not compute.
I smell bs
I agree that us market can give us more capital gain.
One lucky thing is most of my holding are blue chips.
So lower risk. But doesn't mean no risk.
you are still better than me. I left nothing now.
No more cash.
What bluechips are you in?. Banks, ocbc, dbs or kep Corp, or sia, city dev? Etc?
You hiong, 500k all in stocks!!!
Just saw this in an earlier post, http://sbr.com.sg/economy/news/char...x-year-high-in-september#sthash.ybpclgn9.dpuf
I guess his nightmare on interest rate is coming true.
Only if you have outstanding loans.
For those holding cash they can get higher returns.
If interest rate goes up I'll probably sell my shares & put money in the bank & collect interest. Otherwise I'll keep my shares & get dividend income.
Only if you have outstanding loans.
For those holding cash they can get higher returns.
If interest rate goes up I'll probably sell my shares & put money in the bank & collect interest. Otherwise I'll keep my shares & get dividend income.
Hahahaha. Not sure about the bs though, as this is the figure given by friend.
I see no reason why he want to bs as he is in better shape, financially, than me.
Only if you have outstanding loans.
For those holding cash they can get higher returns.
If interest rate goes up I'll probably sell my shares & put money in the bank & collect interest. Otherwise I'll keep my shares & get dividend income.