QUOTE(126126 @ Jan 25 2011, 05:45 PM)
Yes still far away from 7m. However, i seriously doubt I will allocate 1m each for their education. I am a firm believer in educating them the right way, not the expensive way.
I think i keep too much cash too. Not savvy enough to invest them. Which is why i am still learning. Read loads of places where u earn 30% upwards pa on certain investments but i believe the harsh reality is u dont earn this much. Ppl tend to tell u stories of their best achievements and mask those underperforming and lost making ventures....
My experience with private bankers, again, not too rosy. They seem to know some of their product well but most products are not right for me. again, some of them have vested interest so i always take their advise with a pinch of salt. Where can I learn more about investment for HNWI? 1% is alright as long as performance is there....
Wow collector of art pieces. Well done!
Added on January 25, 2011, 5:54 pmThank you for your helpful guidance so far.
Will explore these oppotunities. However, am not keen in overseas properties. Already too much on my plate over here and seeking other ways to diversify my portfolio to be a more rounded one.
True, educating them the right way, but even the right way may cost a lot of money. Look at how much foreigners are paying for tertiary education in US, UK and Australia. You need 1m for the fee and living allowance if they have good enough result to get into good universities in those countries. Dont let money be the limiting factor for their education.
There are ways of making returns of more than 10-15% yearly. You just have to read up a lot and explore various investment tools, and to explore those non-conventional investment like paintings, teapots, wines, tea leaves, coloured stones, semi-precious stones, metals etc.
They are some pretty good private bankers, but usually if you want to do things 'properly', u need to give them instructions! Foreign private bankers and local private bankers are the same. It's just that foreign private banks offer more investments or 'gambling' tools. Just invest in things that u understand!
The best way to know is to get to know the people with hands-on experience, eg rich private investors. Sometimes they will shed sincere advice... Dont bother getting advice from those ppl with vested interest. Afterall how good their advice can be if you are already much more successful than them..
Art pieces, u can enjoy.. they should be able to retain their value. Dont get conned though with faked stuff!
Added on January 26, 2011, 4:43 pmQUOTE(prophetjul @ Jan 26 2011, 10:42 AM)
Here goes mine, pls comment:
Age: 48
Salary: 350k p year
Properties: 2.5m (no loan)
Cash: 500k
Rental income : Approx 45k p year
Preciousmetals/commodities: 2m
Stock mkt: 1m
EPF: 1m
Insurance- Accident-2.2m.....Life......1.5m.....hospitalisation
2 kids- 16yrs & 12yrs
i need to provide 1 m each for their education.
Hows my portfolio?
Can i retire by 56 yrs old?
TIA
The most expensive courses in UK and Australia are probably Dentistry and Medicine. Average current cost around RM120k a year. 5-6 year course will set u back 720k. If your child fails one year, have to repeat the whole year, another RM120k byebye. If your child can save on his/her living expenditure, 20-30k per annum, should be enough.. so about 1.1-1.2M for the course (include benefits like yearly flying back to see papa and mummy, and occasional hang-out with friends, plus one year extra tuition fee in case they fail).
This post has been edited by newbie99: Jan 26 2011, 04:43 PM 
May 8 2010, 12:55 PM
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