Hey, How you guys define "afford-able" ??

[devilplate]

You probably in total control of your life, the way you wanted it to be.

Unlike you, I have one kid and expecting another one in June. My wife and myself are not high flyers and our combine household income is just a humble 4+3 = 7++KSGD gross. We have had the ambitious vision/dream to send our kid to Henry Park primary last year and somehow I woke up from the tempting dream after I almost retrenched. It was a close shave, and somehow the reality catches up with me.

Though I armed with an average degree with a master, I am somehow downright sandwiched in the middle, and probably lower middle rung of our society. I am not very optimistic and cautiously we downgraded to HDB for a peaceful sleep at night.

oh i remember u oredi.....u wana upgrade to D10 condo rite?

yaya.....its totally impossible for u to upgrade.....somemore one more kid on the way

btw congrats .....gona haf a dragon baby!!

[mcmlxxvi]

Further to my last post, a person's salary is an illusion. It creates both fear and complacency as a comfort zone. Fear of losing the salary and complacency in the false belief that the salary can be perpetually available. Until one recognises the true nature of "salary", he will not be able to achieve financial freedom.

Agree. Salary is but pocket money to me now. More important is the paid work must be meaningful. Building on passive income is more important to me at this point... I am over 35 and my last drawn is around 6k but so what, if your luck is not here and time not right you simply wont land the job no matter how hard you try...

[yowetan]

oh i remember u oredi.....u wana upgrade to D10 condo rite?

yaya.....its totally impossible for u to upgrade.....somemore one more kid on the way

btw congrats .....gona haf a dragon baby!!

Thanks. It only means I need to be prudent and careful with my expenditure.

My babies are barely 1 year apart. My elder son was born last year May, and this second son will be arriving in June.

The life in Singapore is taking a toll of my wife and myself; we are considering getting one home in Iskandar and live there to better utilise our income.

What is your take?

[devilplate]

LOL. i sold my SLK recently to make a small profit...also to release some spare cash.

hmm....ur SLK bot when COE low low?

been hearing ppl say they drive for free for 2-3yrs but tats only possible for those cheaper jap cars....conti cars cant make any profits leh

[samsara]

Congratulations on achieving "salary is but pocket money to me now". Not many people will be able to have that kind of achievement at age 35+. When you excel in your own area of expertise and are industrious in establishing and maintaining your network (of vendors, associates, partners, customers, etc), companies will look for you and not the other way around.

Agree. Salary is but pocket money to me now. More important is the paid work must be meaningful. Building on passive income is more important to me at this point... I am over 35 and my last drawn is around 6k but so what, if your luck is not here and time not right you simply wont land the job no matter how hard you try...

[yowetan]

Agree. Salary is but pocket money to me now. More important is the paid work must be meaningful. Building on passive income is more important to me at this point... I am over 35 and my last drawn is around 6k but so what, if your luck is not here and time not right you simply wont land the job no matter how hard you try...

Hi mcmlxxvi,

How do you survive without a job now? or you are getting lesser paid job to make yourself less stress?

[devilplate]

Thanks. It only means I need to be prudent and careful with my expenditure.

My babies are barely 1 year apart. My elder son was born last year May, and this second son will be arriving in June.

The life in Singapore is taking a toll of my wife and myself; we are considering getting one home in Iskandar and live there to better utilise our income.

What is your take?

dun stay in boleh land la.....security issue hor,.....u single den no problem.....but u got kids and wifey lor

[samsara]

Congratulations to you on the incipient birth.

The best investment is in your kids. Look back on your own journey in various aspects (financial, education, moral values, compassion, empathy etc) and ask yourself how your experience will help pave the path for them. For example, in the area of financial literacy, did you ever wonder whether your personal investment strategies would have been different in your early working years had your financial knowledge been stronger?

Thanks. It only means I need to be prudent and careful with my expenditure.

My babies are barely 1 year apart. My elder son was born last year May, and this second son will be arriving in June.

The life in Singapore is taking a toll of my wife and myself; we are considering getting one home in Iskandar and live there to better utilise our income.

What is your take?

[mcmlxxvi]

You probably in total control of your life, the way you wanted it to be.

Unlike you, I have one kid and expecting another one in June. My wife and myself are not high flyers and our combine household income is just a humble 4+3 = 7++KSGD gross. We have had the ambitious vision/dream to send our kid to Henry Park primary last year and somehow I woke up from the tempting dream after I almost retrenched. It was a close shave, and somehow the reality catches up with me.

Though I armed with an average degree with a master, I am somehow downright sandwiched in the middle, and probably lower middle rung of our society. I am not very optimistic and cautiously we downgraded to HDB for a peaceful sleep at night.

You are humble. Do agree that with a kid, you can take less risks. However you are still young at 34. Even max out loan also no problem. Never look at mortgage as something poisonous. It is only if you let it control you rather than control it to help you make money. A property can be an asset or liability depending on how you manage it. Step by step. Dont need to jump straight to D10. You are fortunate yo have a goal. Most people dont even know what they really want and just follow the herd. Start small. Buy Something you can live in and yet price allow you to sleep at night. When time comes and opportunity comes be brave and sell it. Upgrade. Then buy more if possible. Start to build on that passive income...in good times you can accomplish many levels in just one year or two.

[Eastboy]

If the high-income earner does not have correspondingly high net asset value and he chalks up large amounts of debt then he is asking for trouble. On the other hand, if the high-income earner chalks up debt as a utility to increase his net asset value, then he is able to create wealth much faster than he could ever have had without monetary tools such as loans.

yup healthy debts are good. i must thank my dad in inculcating me the right 'training' since young on how to service good debt. for example, when i wanted to buy a nike shoe for $180 (back in 1992, that is helluva expensive for a teenager), he would 'loan' me $180 as installments i.e he would deduct $10 from my pocket money every week (and then a $10 'admin' surcharge that i have to use my own savings to get the $180 loan). i learnt that at the end of the day, i could still purchase something even though i don't have the full amount.

my brother and i had an 'accounts book' each and we have to manage it and it was always a fun affair doing accounting. we will seek all ways to repay the loan asap e.g. volunteer to wash the car for $5, weed the garden for $3....and 'invest' the money i.e. if we save $50, we will request Dad (our banker) to hold it for us for six months, and he'll double whatever we saved every 6 months.

instead of becoming money-minded, i felt that i was very financially savvy at a young age. when i went university, i started my own trading account with his blessings.

man, miss my dad....

[samsara]

Bro, there is great value in boleh-land. That is the reason why we call it boleh-land. Otherwise we will call it tat-boleh-land.

dun stay in boleh land la.....security issue hor,.....u single den no problem.....but u got kids and wifey lor

[teddybear]

I pity you. Did you go into this industry because of all the rosy news previously? Remember there are strong encouragement previously for people to go into this industry? What happened now? I fear this is going to be similar to IT industry in early 1990s where too many people graduate with IT degrees and after several years many become jobless and have to switch field.

I am in lifescience/biotechnology industry, engineering and customer service. The outlook doesn't look favorable, and I reckon I will have any breakthrough.

I am looking for similiar capacity, managerial role if possible. The bottomline is a steadier job background with reasonable package.

[yowetan]

Congratulations to you on the incipient birth.

The best investment is in your kids. Look back on your own journey in various aspects (financial, education, moral values, compassion, empathy etc) and ask yourself how your experience will help pave the path for them. For example, in the area of financial literacy, did you ever wonder whether your personal investment strategies would have been different in your early working years had your financial knowledge been stronger?

You are right in developng financial knowledge, however in those days I am even poorer to begin with. But, you are right I should fall back on my past experience and guide my kids out of the dilemma I am facing now.

[Eastboy]

hmm....ur SLK bot when COE low low?

been hearing ppl say they drive for free for 2-3yrs but tats only possible for those cheaper jap cars....conti cars cant make any profits leh

no leh...i made $30K leh....

[devilplate]

anyway now bestest time for those looking to upgrade or buy first ppty for investment.....ppty px arent gg to rise much.....more likely to drop and u can haf the luxury of time to save up more

[samsara]

Ah, that explains why your understanding is so different from a lot of other people. Your dad was very wise and has taught you and your brother very well. You are living testament to his brilliance.

yup healthy debts are good. i must thank my dad in inculcating me the right 'training' since young on how to service good debt. for example, when i wanted to buy a nike shoe for $180 (back in 1992, that is helluva expensive for a teenager), he would 'loan' me $180 as installments i.e he would deduct $10 from my pocket money every week (and then a $10 'admin' surcharge that i have to use my own savings to get the $180 loan). i learnt that at the end of the day, i could still purchase something even though i don't have the full amount.

my brother and i had an 'accounts book' each and we have to manage it and it was always a fun affair doing accounting. we will seek all ways to repay the loan asap e.g. volunteer to wash the car for $5, weed the garden for $3....and 'invest' the money i.e. if we save $50, we will request Dad (our banker) to hold it for us for six months, and he'll double whatever we saved every 6 months.

instead of becoming money-minded, i felt that i was very financially savvy at a young age. when i went university, i started my own trading account with his blessings.

man, miss my dad....

[devilplate]

no leh...i made $30K leh....

u sell urself? how easy to sell ar.....i scare vy troublesome leh

[yowetan]

I pity you. Did you go into this industry because of all the rosy news previously? Remember there are strong encouragement previously for people to go into this industry? What happened now? I fear this is going to be similar to IT industry in early 1990s where too many people graduate with IT degrees and after several years many become jobless and have to switch field.

It is tough and almost impossible for me to switch industry now as I am already almost mid 30s. With 2 kids with me, it is even harder for me to make any drastic changes in my current profile unless there are some kind forumers here who wish to give me some help.

Else, I guess I will take it as it is and just work to my best. As of now, I read this forum as a favorite past time and hopefully I will win TOTO and afford a unit of my choice.

[mcmlxxvi]

Congratulations on achieving "salary is but pocket money to me now". Not many people will be able to have that kind of achievement at age 35+. When you excel in your own area of expertise and are industrious in establishing and maintaining your network (of vendors, associates, partners, customers, etc), companies will look for you and not the other way around.

I confess I never placed 100 percent in my work when I could... In recent years, with some bullets, half the time was busy building on passive income rather than seriously working... But I have been frugal, still am, and I never go the illegal way nor harm anyone else in my past 10+ years of work. So I always rest peacefully at night...

[mcmlxxvi]

u sell urself? how easy to sell ar.....i scare vy troublesome leh

Wrong topic haha

[devilplate]

Bro, there is great value in boleh-land. That is the reason why we call it boleh-land. Otherwise we will call it tat-boleh-land.

my relatives in msia tell me better dun invest in msia ppty hor.....they say only KL worth looking at.....

den i look at it....might as well jus hold ringgit in FD to earn 3-3.5% worry free int?

vy tough to collect rental in boleh land.....LOL

[devilplate]

lalalalallalaa

[samsara]

Money is important but it is not the most important. Financial mastery lies not only in the understanding of the purpose of money. It also lies in the understanding of humanity - psychology, moral values, needs and wants. With a sound understanding of humanity, you will understand that money is a construct of humanity and as such can be wielded to do your bidding instead of being enslaved by it.

You are right in developng financial knowledge, however in those days I am even poorer to begin with. But, you are right I should fall back on my past experience and guide my kids out of the dilemma I am facing now.

[devilplate]

Money is important but it is not the most important. Financial mastery lies not only in the understanding of the purpose of money. It also lies in the understanding of humanity - psychology, moral values, needs and wants. With a sound understanding of humanity, you will understand that money is a construct of humanity and as such can be wielded to do your bidding instead of being enslaved by it.

ur ang mor damn powderful

i macham like reading a book lor....LOL

[mcmlxxvi]

Hi mcmlxxvi,

How do you survive without a job now? or you are getting lesser paid job to make yourself less stress?

I am semi retired now, living on rental income and eating away on my cpf actually to service the loan so as not to eat into contingency funds ...while awaiting my 3rd property to complete for more passive income... Meanwhile considering contract job to add on bullets...

[mcmlxxvi]

ur ang mor damn powderful

i macham like reading a book lor....LOL

Ya very enjoy and inspirational leh. Samsara come out book leh... I buy... Kekeke

[samsara]

Malaysia and Singapore are in a unique 唇亡齿寒 situation today. Singapore needs to help Malaysia in order to help ourselves. Our strengths (branding, reputation, systems, etc) can help Malaysia establish herself on the global stage. The leaders of today have recognised that, and unlike the previous hard-liners who put personal enmity above national interests, are working towards that.

The two countries will work together closely and become more integrated economically. The other aspects will gel in time to come (properties, FDIs, currencies, etc).

my relatives in msia tell me better dun invest in msia ppty hor.....they say only KL worth looking at.....

den i look at it....might as well jus hold ringgit in FD to earn 3-3.5% worry free int?

vy tough to collect rental in boleh land.....LOL

[august]

my relatives in msia tell me better dun invest in msia ppty hor.....they say only KL worth looking at.....

den i look at it....might as well jus hold ringgit in FD to earn 3-3.5% worry free int?

vy tough to collect rental in boleh land.....LOL

the few sporeans i know who are looking at JB malaysia is doing so for retirement and lower cost of living, simply bcos they are being priced out of spore. I too am not optimisstic on malaysia property for investment/rental.

[samsara]

Frankly, I have spent a substantial amount of time and effort in my early years on improving my grasp of the English language. Part of the reason was practicality, the other was passion. The practical aspect lay in the area of academic pursuits - a strong grasp of language allowed me to learn faster and more in-depth than my peers. It also helped that I was terribly passionate about reading and writing.

ur ang mor damn powderful

i macham like reading a book lor....LOL

[Eastboy]

u sell urself? how easy to sell ar.....i scare vy troublesome leh

no lah quite easy. place the ad sgcarmart, then people will contact you. usually people who want to buy luxury cars are serious buyers (and dealers) anyway.

i sold it within 5 days, but i was lucky because expat bought from me, and he didn't negotiate much i did all the running to LTA and transfer paperwork for him, even help him applied car insurance LOL.