Cook1234 Neutral Newbie October 20, 2011 Share October 20, 2011 lots of singaporeans can be a lot richer than they are now. not because they dun earn a lot, but because they spend too much. nowadays young couples with a combined salary of 8k is not unusual. if they can stay in HDB and service their loans with CPF, live a simple life, take public transport, saving half their salary is quite possible. save 4kpm means 50kpa. in 20years, will become millionaires. (but then money will become smaller due to inflation) >>>but salary will likely rise with age and seniority, and with proper investment of money, they may well become millionaires in perhaps 10years instead of 20years. so my humble opinion is that, it is truly possible, if one plan his finances well ahead. any opinions??? ↡ Advertisement Link to post Share on other sites More sharing options...
Sabbie Clutched October 20, 2011 Share October 20, 2011 20 years is too long to become a millionaire....and how many people can save 4K a month when the average pay is about 4K a month minus cpf only 3K, if you drive a car minus another 1.5k, left 1.5 to eat only... Link to post Share on other sites More sharing options...
Mockngbrd Supersonic October 20, 2011 Share October 20, 2011 (edited) take 30yr loan, buy a 1mil condo, instantly branded as millionaire lots of singaporeans can be a lot richer than they are now. not because they dun earn a lot, but because they spend too much. nowadays young couples with a combined salary of 8k is not unusual. if they can stay in HDB and service their loans with CPF, live a simple life, take public transport, saving half their salary is quite possible. save 4kpm means 50kpa. in 20years, will become millionaires. (but then money will become smaller due to inflation) >>>but salary will likely rise with age and seniority, and with proper investment of money, they may well become millionaires in perhaps 10years instead of 20years. so my humble opinion is that, it is truly possible, if one plan his finances well ahead. any opinions??? earn 8k save 4k? tough. salary rise with age and seniority only up to a certain point before either stuck or lose job i'm cynical Edited October 20, 2011 by Mockngbrd Link to post Share on other sites More sharing options...
Gearoil 1st Gear October 20, 2011 Share October 20, 2011 Most ppl who do very well have a 'head start' in life. Not your ordinary HDB living pigeon hole Sinki,e whose parents are also living in pigeon holes. Of course, there will be a small...READ very small %.... of those in pigeons holes going into the very rich category but for most, even going from pigeon hole to condom...err..I mean condo...already present a huge challenge at the present moment and more so in the future. So have YOU got a 'head start in life' besides a piece or even pieces of 'toilet paper'? Link to post Share on other sites More sharing options...
Ahtong 1st Gear October 20, 2011 Share October 20, 2011 salary rise with age and seniority only up to a certain point before either stuck or lose job i'm cynical I think this is why suicide rates for males in their 40s is the highest. Career stagnate at a time they need $$$$ the most. Link to post Share on other sites More sharing options...
Tarzan666 2nd Gear October 20, 2011 Share October 20, 2011 another way by inheritance lor... Link to post Share on other sites More sharing options...
Soya Supersonic October 20, 2011 Share October 20, 2011 so my humble opinion is that, it is truly possible, if one plan his finances well ahead. any opinions??? no need to think so hard lah. as proven in MCF, wipe table can liao. Link to post Share on other sites More sharing options...
Sabbie Clutched October 20, 2011 Share October 20, 2011 I think this is why suicide rates for males in their 40s is the highest. Career stagnate at a time they need $$$$ the most. I agree, if you do not own a supercharged car I mean $$$ by 40, then you will likely struggle for the rest of your life... Link to post Share on other sites More sharing options...
Ahtong 1st Gear October 20, 2011 Share October 20, 2011 I am not a millionaire by a long shot and finance is not my expertise. However, I feel that most "Millionaires" are made through property. 1) Young couple buy condo because the don't qualify for HDB. After their loan is paid up in xxxx years, they are millionaire in asset only. 2) Old man bought a property long ago when things were cheap. By luck or foresight the property is now in a prime area. They can sell off the property and enjoy the last few years of their lives. 3) Someone who is already rich to begin with buying and selling properties. Of those above, only (3) can be considered rich. Becoming rich as an employee is near impossible. Become rich by starting a biz is possible but for every success, there are a kajillion failures. The successful ones probably have to pay a high social price for their success too. Link to post Share on other sites More sharing options...
Mockngbrd Supersonic October 20, 2011 Share October 20, 2011 Most ppl who do very well have a 'head start' in life. Not your ordinary HDB living pigeon hole Sinki,e whose parents are also living in pigeon holes. Of course, there will be a small...READ very small %.... of those in pigeons holes going into the very rich category but for most, even going from pigeon hole to condom...err..I mean condo...already present a huge challenge at the present moment and more so in the future. So have YOU got a 'head start in life' besides a piece or even pieces of 'toilet paper'? it is true. i am ordinary sinkie only. we always get pwned Link to post Share on other sites More sharing options...
Mockngbrd Supersonic October 20, 2011 Share October 20, 2011 I am not a millionaire by a long shot and finance is not my expertise. However, I feel that most "Millionaires" are made through property. 1) Young couple buy condo because the don't qualify for HDB. After their loan is paid up in xxxx years, they are millionaire in asset only. this one not counted becos only 1 house. "millionaire" by ST/Gahmen definition only. In reality, even though not bad liao, but not millionaire Link to post Share on other sites More sharing options...
Good-Carbuyer 1st Gear October 20, 2011 Share October 20, 2011 I am not a millionaire by a long shot and finance is not my expertise. However, I feel that most "Millionaires" are made through property. 1) Young couple buy condo because the don't qualify for HDB. After their loan is paid up in xxxx years, they are millionaire in asset only. 2) Old man bought a property long ago when things were cheap. By luck or foresight the property is now in a prime area. They can sell off the property and enjoy the last few years of their lives. 3) Someone who is already rich to begin with buying and selling properties. Of those above, only (3) can be considered rich. Becoming rich as an employee is near impossible. Become rich by starting a biz is possible but for every success, there are a kajillion failures. The successful ones probably have to pay a high social price for their success too. My friends also lost their millions during the property plumge? Now we all employees only. Link to post Share on other sites More sharing options...
Sabbie Clutched October 20, 2011 Share October 20, 2011 Sell backside, I heard those ducks at club gi**gio earns 5K a night Link to post Share on other sites More sharing options...
Ahtong 1st Gear October 20, 2011 Share October 20, 2011 this one not counted becos only 1 house. "millionaire" by ST/Gahmen definition only. In reality, even though not bad liao, but not millionaire Problem is the gahmen is using such fudgy logic to make themselves look good. Link to post Share on other sites More sharing options...
Good-Carbuyer 1st Gear October 20, 2011 Share October 20, 2011 it is true. i am ordinary sinkie only. we always get pwned You got the point. You are right. We always get to struggle more. Link to post Share on other sites More sharing options...
Ahtong 1st Gear October 20, 2011 Share October 20, 2011 I agree, if you do not own a supercharged car I mean $$$ by 40, then you will likely struggle for the rest of your life... I have been circling bedok resevoir in my "rented" supercharged car looking for a nice peaceful spot. Link to post Share on other sites More sharing options...
Sabbie Clutched October 20, 2011 Share October 20, 2011 I have been circling bedok resevoir in my "rented" supercharged car looking for a nice peaceful spot. So far no problem with your 7 speeder? you go HAT or Eurohaus for servicing since near bedok reservoir or still AD... Link to post Share on other sites More sharing options...
Mockngbrd Supersonic October 20, 2011 Share October 20, 2011 last time tio toto = buy bungalow house, now tio toto = buy DBSS (not the most ex unit also) ↡ Advertisement Link to post Share on other sites More sharing options...
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