Ahtong 1st Gear January 7, 2012 Share January 7, 2012 As per topic, please discuss. It seems that a good deal of rich old towkays were lowly educated bengs who simply knew how to hustle. Is it still possible nowadays? I think we can look at stuff such as (relative) importance of education, mindset, economic climate, barriers to entry, pressence of big players, regulations and so on ↡ Advertisement Link to post Share on other sites More sharing options...
Tom_kkh 1st Gear January 7, 2012 Share January 7, 2012 (edited) how my friend got "rich" been a 3k monthly paid employee. bought a BTO flat when he was 24. he did not stay in it and rented the whole unit out. yes illegal but he never get caught. so every month he got extra 2k plus. after 5 years, he sold the place with a good profit. He used some of the cash and paid for a condo. again he did not stay in it and rented it out, 3.5k per month for whole unit again. 3 years later, he sold the condo for even better profit..... he used the extra cash to pay for another new condo and waited for 3 years..... now he is happily staying in a 1.1m condo, paying the monthly with CPF, with some handsome cold hard cash in his bank. for the above period, he stayed with his sister. so no need to pay for anything but pub bills. with 2 kids now btw.. so anyone don mind staying at yr sibling place for 12 years, can do the same...... Edited January 7, 2012 by Tom_kkh Link to post Share on other sites More sharing options...
Sabbie Clutched January 7, 2012 Share January 7, 2012 Difficult, I don't think I can even hit 1 million at 40. Link to post Share on other sites More sharing options...
Watwheels Supersonic January 7, 2012 Share January 7, 2012 how my friend got "rich" been a 3k monthly paid employee. bought a BTO flat when he was 24. he did not stay in it and rented the whole unit out. yes illegal but he never get caught. so every month he got extra 2k plus. after 5 years, he sold the place with a good profit. He used some of the cash and paid for a condo. again he did not stay in it and rented it out, 3.5k per month for whole unit again. 3 years later, he sold the condo for even better profit..... he used the extra cash to pay for another new condo and waited for 3 years..... now he is happily staying in a 1.1m condo, paying the monthly with CPF, with some handsome cold hard cash in his bank. for the above period, he stayed with his sister. so no need to pay for anything but pub bills. with 2 kids now btw.. so anyone don mind staying at yr sibling place for 12 years, can do the same...... That's funny. How come tax ppl never come after him? 3k salary can buy so ex condo, very obvious isn't it? Cool story... Link to post Share on other sites More sharing options...
Sabbie Clutched January 7, 2012 Share January 7, 2012 how my friend got "rich" been a 3k monthly paid employee. bought a BTO flat when he was 24. he did not stay in it and rented the whole unit out. yes illegal but he never get caught. so every month he got extra 2k plus. after 5 years, he sold the place with a good profit. He used some of the cash and paid for a condo. again he did not stay in it and rented it out, 3.5k per month for whole unit again. 3 years later, he sold the condo for even better profit..... he used the extra cash to pay for another new condo and waited for 3 years..... now he is happily staying in a 1.1m condo, paying the monthly with CPF, with some handsome cold hard cash in his bank. for the above period, he stayed with his sister. so no need to pay for anything but pub bills. with 2 kids now btw.. so anyone don mind staying at yr sibling place for 12 years, can do the same...... your fren married young? can bto at 24?....cb govt don't let me buy bto at 24 Link to post Share on other sites More sharing options...
Jasonjst 3rd Gear January 7, 2012 Share January 7, 2012 One brother in MCF says Singapore is the easiest place on earth to become millionaire. Just see our Ministar all is highest paid Ministers on earth. Then they say Singaporean are richest citizen in the world leh ! Link to post Share on other sites More sharing options...
Tom_kkh 1st Gear January 7, 2012 Share January 7, 2012 (edited) your fren married young? can bto at 24?....cb govt don't let me buy bto at 24 yes he married(custom) at 23. his older daughter already 5 years old...... Edited January 7, 2012 by Tom_kkh Link to post Share on other sites More sharing options...
Tom_kkh 1st Gear January 7, 2012 Share January 7, 2012 That's funny. How come tax ppl never come after him? 3k salary can buy so ex condo, very obvious isn't it? Cool story... y not? even kana checked they can say parent give money one..... anyways, unless been complained, tax ppl not so free to really audit every singaporean. Link to post Share on other sites More sharing options...
Tigerwoods Turbocharged January 7, 2012 Share January 7, 2012 (edited) As per topic, please discuss. It seems that a good deal of rich old towkays were lowly educated bengs who simply knew how to hustle. Is it still possible nowadays? I think we can look at stuff such as (relative) importance of education, mindset, economic climate, barriers to entry, pressence of big players, regulations and so on Yes I believe it's true. the simple logic is like there is a gold mountain discovered 40 years ago and people then start digging gold out of it and 40 tears later the gold gets harder to find and you need to digg deeper. Another easy to describe it is last time O level quite big deal and you get good job. Now throw a stone in Orchard road you hit a master degree guy who work the same job as the O level 40 years ago. Edited January 7, 2012 by Tigerwoods Link to post Share on other sites More sharing options...
Sabbie Clutched January 7, 2012 Share January 7, 2012 yes he married(custom) at 23. his older daughter already 5 years old...... oic, but hdb can reprosess his hdb if kena found out but last time more lax...now they more on Link to post Share on other sites More sharing options...
Good-Carbuyer 1st Gear January 7, 2012 Share January 7, 2012 As per topic, please discuss. It seems that a good deal of rich old towkays were lowly educated bengs who simply knew how to hustle. Is it still possible nowadays? I think we can look at stuff such as (relative) importance of education, mindset, economic climate, barriers to entry, pressence of big players, regulations and so on I believe most challenging are the rules and laws against individuals trying to get started. Once you overcome these, the rules and laws are abolished. Example: hit and run, tree-trunk... Link to post Share on other sites More sharing options...
Good-Carbuyer 1st Gear January 7, 2012 Share January 7, 2012 how my friend got "rich" been a 3k monthly paid employee. bought a BTO flat when he was 24. he did not stay in it and rented the whole unit out. yes illegal but he never get caught. so every month he got extra 2k plus. after 5 years, he sold the place with a good profit. He used some of the cash and paid for a condo. again he did not stay in it and rented it out, 3.5k per month for whole unit again. 3 years later, he sold the condo for even better profit..... he used the extra cash to pay for another new condo and waited for 3 years..... now he is happily staying in a 1.1m condo, paying the monthly with CPF, with some handsome cold hard cash in his bank. for the above period, he stayed with his sister. so no need to pay for anything but pub bills. with 2 kids now btw.. so anyone don mind staying at yr sibling place for 12 years, can do the same...... I believe TS meant some decent and legal business and the likes. Example: if there are many emails around on money-laundrying. Who among us keen on those proposals? Link to post Share on other sites More sharing options...
Good-Carbuyer 1st Gear January 7, 2012 Share January 7, 2012 Difficult, I don't think I can even hit 1 million at 40. You still young and not standing as MP? Link to post Share on other sites More sharing options...
Scb11980 1st Gear January 7, 2012 Share January 7, 2012 Difficult, I don't think I can even hit 1 million at 40. sell backside but dont use ky Jelly may help you reach 2 million instead any takers can i be your pimp while MO can volunteer to drive you to your client but of course for a fee Link to post Share on other sites More sharing options...
Tom_kkh 1st Gear January 7, 2012 Share January 7, 2012 I believe TS meant some decent and legal business and the likes. Example: if there are many emails around on money-laundrying. Who among us keen on those proposals? he mentioned discuss, so i share. if not suitable.. didnt know selling houses now is deem as indecent, some do buy and sell house as a business investment...... pai sai. Link to post Share on other sites More sharing options...
Vid Hypersonic January 7, 2012 Share January 7, 2012 Not sure of it's easy to get rich 30-40 yrs ago but it sure is easier to get poorer now when everything is so expensive Link to post Share on other sites More sharing options...
Ahtong 1st Gear January 7, 2012 Author Share January 7, 2012 I believe TS meant some decent and legal business and the likes. Example: if there are many emails around on money-laundrying. Who among us keen on those proposals? For the sake of discussion, I think we can accept stories that involve gray areas or exploiting regulation loopholes. Those old timers also did a lot of such things. Link to post Share on other sites More sharing options...
Good-Carbuyer 1st Gear January 7, 2012 Share January 7, 2012 he mentioned discuss, so i share. if not suitable.. didnt know selling houses now is deem as indecent, some do buy and sell house as a business investment...... pai sai. You got the point. You are right. Let us disucss: Many proposals email received every year. Each many millions USD. Suspect to be money-laundrying plot. How? ↡ Advertisement Link to post Share on other sites More sharing options...
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