wa.. lots of posts missing

I wouldn't say clinging on to money is necessarily wrong. Better than those who purchase frivolous things. As they say, a bird in hand is worth two in the bush.

Anyway most people who do investment also invest in things they think are safe - properties, unit trusts, etc. So it's only a lesser degree of laziness.
In this economic climate, I don't really blame them. The "reality" of money isn't worth the paper it's printed on, but rather the potential things it can be exchanged for.

Anyway those people who do investment, are also trying to get more of this "unreal" stuff. 

My Dad told me an unfortunate story of a relative of ours. Was earning 45,000 SGD per month because he was working for some GIC company in Singapore. Even got 8 months bonus.

He was a heavy property investor, bought many properties, but not enough cash savings. He figured his high salary would last for a long time, and would be able to make all the payments.

But then the financial crisis happened. He got a paycut and now he's earning only 11k, still a lot to most of us, but because he overstretched many things, he can't afford to make payments, and housing prices in Singapore plummeted, he had to sell off properties at a loss.

So... I guess the moral of the story is - investment is good, but don't go overboard.

That's why I never really encourage property investment. One of the reason being we never know whether recession will hit us or our tenant. If it happens, who is going to pay for the loan? Another thing being I'm not that familiar with property investment. I believe if your relative hedge on stocks, hence he will not need to sell off property at loss. Anyway, it's been an illusion to almost everyone that I know that property investment will earn more as they thought that the price of property will not collapse. I always believe in one thing....what goes up will eventually come down. So......I will only invest in equity, but not property.
Just my 2 cents

Hehehe, like phoeni, I gave up reasoning to you as well. Another man's meat could be another's poison.

While discussion is nice
but the several pages invasion is not very nice

he's playing checkers and he seems comfortable with it
u can win medals too in checkers
so let him be

chessers have chesser thread
checkerers have checkers thread

this is an entire different thread

The truth is....the aftershock of subprime has a lot to do with the housing/rental price in most parts of the world.

Agree... Good debt is necessary for everyone. I don't think the richest man in the world is free from debt. The more important thing is that he is able to earn a lot of money from his debt...

Agree. That's why only 10 % of the world population are rich people...

You say like that also...