I can sense that somehow,... YOU are SORE internally abt what I have been discussing with other forummers here, for reasons unknown,...

YOU go to the extreme of pulling out inputs that are seemed to be detrimental to me,... for which I did not reply to (except for the one by bronkos) and that I ignored due to non-productiveness. I am surprised you spent your time doing all this.

Well,... you can choose not to read this thread for the time being,... or you can choose not to participate in my discussions inside this thread. This is just an open, public forum,...

Let's be more productive,... but you are free to continue doing your stupid insinuations if you wished to.

However, I wouldn't want to waste useless time with you.

By the way, I appreciated your challenge and reminder that I was dead-wrong.

I accepted it gracefully, but you must also accept that I corrected my error early before you opened your mouth. So,...in answer to your unnecessary repeats abt checking, pausing and thinking, let me say I have done so BEFORE you opened your gap.

You have nothing else to say except to ask me to check, pause and think !

Let me see if you have other similar things to utter after this.

Sifu Master,

Sorry n pls accept my humble apologies. Going forward, will not doubt your wisdom.

True to your words, after hubris comes nemesis.

We then need to wait for the true leader to rise n show a path towards FI/RE.

With only about 4% of adults in this country have >$100k net worth, the true leader may show the path toward fi/re but how many could endure the journey?

Imo got two type

1. Work hard filling the pot to maintain your lifestyle

2. Lowering your lifestyle so that the money pot can last until you die

There's no exactly the right or wrong way. Tho I don't agree extreme frugality to the point it harms you, be it health or mental.

Someday you will make it my friend.
Have faith in yourself, with diligence, discipline, and execution, you will reach where you want to be in life.

Wishing you a great week ahead.

Yes Bro,

I understand now focus on asnb fp n kwsp.
For my category of people. I do follow thread on fd promotion.

I got enuf on my plate... But interested how more successful people do next. Unless, the higher networth people also just focus on asnb fp n kwsp.

Just to elaborate, if the high networth use kwsp n asnb as bedrock of investment. Otherwise, there will be many-many other investment types.... To repeat, what investment as Bedrock?

This post has been edited by Dd2318: Nov 25 2019, 03:26 PM

Yeah, focus on spending is key.

Well, I would say, some buffer or overhead is good when calculating the amount you spend monthly.. ontop of inflation rate.

Otherwise, you will frustrated and stress out when some out of the blue incur.

Haha agree... Tukar tayar kereta... Siong Le!

Give you a mirror to reflect.

You reply to someone with 30Million .......
you dont believe people can make passive income $40k a month
must doubt it-----say may be his active income? ,
ask what income type is that?regulated or not?.
Want to see his portfolio and blog..

For someone acting like investment expert i expect you to know the simple fact
if one has $30 Million, even with 0 investment knowledge, simply dump the money in bank
with a meagre 1.6% return already can make that $40k passive income a month!

As usual chest-thumping your investment prowess, lecture a specialist Dr with S$30Million and passive income 40k a month on how to live do not splurge , how to invest and said he cant stop working........Hilarious to say the least!

And when people do not want to learn from you, you get annoyed....

Assuming husband n wife annual income sgd600k, at their current peak earnings.

The wealth generated approx sgd30million, if likely from inheritance, Strike Toto, etc. Then, if made clear as such....Then no quarrels. His good karma. Enjoy!

Otherwise, it takes 50 years to accumulate such amount...or 33 years, if based on sgd20million. I will accept.

For me personally, not about hubris, nemesis, etc.. But I'm a sucker for hard facts.

Docs in Sgp median pay is region sgd7-15k. If specialist, which hospital lah... TTS, Mt E, etc?

VPs is Singtel n Dbs [Glassdoor] annual earning sgd250k-350k depending on performance bonus, etc.

If you have read my inputs earlier CAREFULLY, I did the following :-

1) I talked abt his Passive Income of SGD40K per mth.. Where did I mention anything abt 30Million ? Pls pull out the sentence and post it here !

2) I mentioned Active Income because SGD40K per mth Active Income which is equivalent to RM120K per mth Active Income is not a big deal. That was what I mentioned. Where did I say that I doubted his 40K is Passive Income and must be Active Income ? Pls pull out the sentence and post it here !

3) I talked abt the types of income, never did I comment specifically HIS income is regulated nor regulated. Did I comment on his income directly ? Again, pls pull out the sentence and post it here !

Let him comment on the last two sentences. You are in no position to comment on his behalf. In fact, like i posted in my earlier posts, I am hoping he will reply. I would indeed like to learn from him,... hence, I asked if he has a blog.

And again,... why are you talking abt 30Million and basing your calculations on 30Million ? Let me pull-out his input and my replies to him in the following posts for more clarity.

Why do you say I am annoyed if people do not want to learn from me ?

'Mr hksgmy's first post :-

QUOTE(hksgmy @ Nov 20 2019, 09:46 PM)

Scenario: Debt free since 40 years of age (about 10 years ago), all investment properties paid off, generating positive income, no bonds or stocks bought on leverage, regular dividend and coupon payouts. No major liabilities, no parents to support, no children to worry about. Health insurances bought to the hilt - should we fall ill, everything is covered.

Converted (using a simple assumption of S$ = AUD = RM x 3), the passive income ranges from RM90,000 to RM150,000 per month. The variation is due to certain months, more than 1 bond pays me the coupon due. There’ll also be an annuity that kicks in when I’m 65 years old, that will add an additional RM30,000 per month as retirement income.

We’re both working in Singapore. I’m a medical specialist, she’s an accountant. In Singapore, we are considered upper middle class (I do not presume to claim that we’re amongst the top earners, but we are comfortable with what we have). We’re both looking to retire in Sydney, as I have family there and Australia isn’t exactly too far away from our other relatives in Malaysia, Singapore and Hong Kong. We also like the outdoors and the idea of long drives to nowhere excites me.

Outgoings: land taxes, property taxes, council taxes, utilities, food/groceries/dining & the maintenance of 2 cars (we’ll both be driving in Australia), medical insurance premiums, holidays outside and within Australia. I can’t think of much more. We have always lived simply even in Singapore.

My concerns: is 50 too young to retire? Obviously, I won’t completely retire - but part time work on a “want to” basis is quite different. What if I hate working part time? What if there‘s no professional pride or a feeling of accomplishment? Once I walk out of my private practice in Singapore, there’s no looking back. I will need to hand over my patients portfolio to a colleague (obviously it’s the responsible thing to do), and should I hate working in Australia, I won’t have a back up plan to come back to Singapore to start all over again. Won’t be fair to my patients and won’t be fair to my colleague.

Will what we have be enough to retire? Am I worrying too much? As a part time physician, I reckon it’s reasonable to expect a pay cut from what I’m making now. Obviously, even a full time physician in the same specialty and with the same seniority in Australia would make a fraction of what Singapore can pay me. International patients (from Indonesia, Myanmar, Malaysia and Vietnam for example) are good paymasters - and those will definitely be missing from my roster in Sydney. What more a part time physician.

I reckon what we can make should be more than enough to cover our living expenses and all outgoings in Sydney, yet, there’s always that niggling fear (as irrational as my wife says it is - she should know, she’s the accountant) that “what if it isn’t enough”?

Although we live very modest lifestyles in Singapore, we love the fact that we don’t ever have to think twice (or blink twice, for that matter), should we ever need to put money down for a purchase, or any reason at all. When my uncle needed money to help my cousin pursue her Masters degree, I didn’t hesitate in fronting up the money.

When my Malay friend’s business fell on hard times and he needed help to pay for his 2 children’s education at Marlborough College, I made good my promise and supported them until his business turned around. He hasn’t paid me back yet, but it’s not an issue because I’m not in a hurry to chase.

When my aunt in Hong Kong had lung cancer, we flew up there multiple times over several weekends (up to Hong Kong on Saturday, back to Singapore on Sunday) to spend time with her. These are meaningful things that bring us (and the recipients) joy, and these are things that we are used to doing - all that might have to stop when we retire (we obviously have to start keeping track of our outgoings then), and I don’t know how I’ll react to it.

Money matters aside, there’s also the worry about all this time on my hands and nothing to do. Will my wife and I end up bickering day in day out? As much as I love her and as much as she loves me, we’ve never spent every single minute of our lives together - and retirement might just force us to do that. And we might get into each other’s hair.

On the one hand, I can’t wait to hang up my stethoscope and do the things that I’ve always wanted to do but never had the time to do so - before I’m too old to do it. Like drive from Sydney to Perth, or take a train from Perth to Sydney. Like cycle from Sydney to Wollongong. Or go fishing. Our house is just a stone’s throw away from the water.

On the other hand, is 50 too young to retire from full time work? I’m not money minded in the sense I don’t need to make my next million and the million after that. I’m actually contented with what I have at present, and by all logical assumption, our wealth will probably outlast our lifetimes. It’s the fear of retirement that worries me. The fear of trying to find new things to do, because I’m bored of the old ones. The fear that my intellect will be blunted by its lack of use and the lack of challenge. The fear that I will fade into irrelevance earlier than I should.

Thank you for letting me put my thoughts on the forum. Thank you for taking time to read my concerns, and I welcome any opinions or thoughts you might have - especially from those in a similar age band (pushing 50) or older, and who might actually have entertained a similar consideration previously (or presently).
*

And my one and only reply to Mr hksgmy's first post :-

I think aspartame has a good point there,... the Passive Income portion truely made many people speechless.

If you are able to make "Converted (using a simple assumption of S$ = AUD = RM x 3), the passive income ranges from RM90,000 to RM150,000 per month.', this means we can count your average monthly passive income from dividends, coupons, rentals and interests to be SGD40K PER MONTH. AND THIS IS PASSIVE INCOME.

Everybody would be impressed. The important point here is the Income-type, let's just limit ourselves to regulated and known income to authorities. Shadow economy income may catch more,...

If yours is Active Income,... then err,... it's not really a big deal,.... but Passive Income ??

What is the size of your portfolio ? Do you have a blog that charts out your investment journey please ?

I'm sure even fund managers would like to learn from you !!!

SGD40K equates PER MONTH equates to SGD480K PER YEAR. THIS IS A VERY STRONG ACHIEVEMENT.

You record would better most, if not all of the SG financial bloggers whose articles that I have read, though I may not have read all,... Please share your blog.

On your plans,... well, I'm not really a guru on planning,.. never thought much abt my own plans too,...I just go on day by day. I have my own motivations,.. biggrin.gif

Maybe some comments from myself,...

1) I think.... money-wise, not too much for you to worry abt-lar,... unless you start thinking abt splurging to the likes of JLow,.. then maybe not enough to do it consistently. But with SGD40K per month and further income from your Active Income,... if consistent,... can still buy a nice yatch in SG to take your friends out to sea and to Bintan on weekends.

The side perks that come along with owning such a yacth (forgot how to spell,...) would be many,... especially if you have a liking for 'cordial relationships'. Life is short, bro,.. Don't worry too much abt what others say,,...

2) No 1) above can be expanded to Aust when you retire there one day. You really like Aust,.. huh ? Not for me though.

Err,... by the way, perhaps you already know this,... if you become a Tax Resident of Aus, their ATO will go after your Passive Income worldwide, especially Singapore assets. "Angmohs like to tax Passive Income",....please think abt this carefully.

3) I supposed you know a lot abt investments already, having been able to structure such a portfolio. So, I'll add the advice that you'll have to keep up your knowledge on investments so that you can continue to generate those Passive Income CONSISTENTLY FOR THE REST OF YOUR LIVES.

Otherwise, you'll have to entrust your portfolio to a private banking relationship mgr. Err,... best to know the things yourself,...

I heard my RM telling me over dinner that her counterparts in The US kena litigation for simply investing clients' money. This is not the first time I hear this,... many times. .. If the RM is not 'performing', you;ll have to keep pouring in funds to avoid margin calls events from coming.

If you can continue to keep pouring in funds then okay-lar,... BUT err,... I'm not JLow. biggrin.gif

4) Ohh yeah,... I almost forgot this VERY IMPORTANT PART : I THINK YOU CAN'T STOP WORKING. BECAUSE YOU NEED THE IMAGE. JUST HAVING MONEY IS NOT ENOUGH. Better not retire at 50 !

Hmm,... I don't know how to explain this in detail,...

I guessed a lot that I said in the above are related to myself,... I'll be here.

This post has been edited by Hansel: Nov 25 2019, 06:04 PM

So,... where is the mention of 30Million ? YOU made it up yourself to facilitate convenience in YOUR CALCULATIONS, right ?

Or,... another theory is you know the person 'in-person',... that's good,.. but pls don't say I replied to someone with 30Million back then.

How would I know that he has 30Million at that time when I replied to him ?

If I knew he had 30Milion at that time when replying to him, I would not have asked for his Passive Income workings.

I'll just recommend the lifestyles to him.

YOU are right abt this : if one has $30 Million, even with 0 investment knowledge, simply dump the money in bank with a meagre 1.6% return already can make that $40k passive income a month!

This is obvious ! But how would I know he had 30Million at that time ?

Please do not argue nonsensically !

See the details in my immediate two inputs.

Hmm,... quite some logic there,... if basing solely from calculations onto working life, bro,... yeah, you have a point there,...

Anyway, guy3288 just mentioned I was talking to the forummer with SGD30Mil,... perhaps he knows hksgmy personally,...

Frankly,... what is the net worth of a person is normally unknown, bro,... for myself,.. I rather focus on how to make passive income with whatever available 'bullets' in hand. Of course, the more 'bullets' one has, the easier it is.

Like guy3288 claimed, with SGD30Mil 'bullets in the warchest', just dumping that warchest into FD can earn 40K per mth. Then no need to talk much already,.. brute force this is, to bro aspartame's term,...

Like guy3288 claimed, with SGD30Mil 'bullets in the warchest', just dumping that warchest into FD can earn 40K per mth. Then no need to talk much already,.. brute force this is, to bro aspartame's term,...

[/quote]
Master Sifu,

Hahaha, yes, lastly agree... I just had a bone to pick.

If the author just started with a sgd30mil networth.... No quarrels.

But, he started story of being a specialist etc, alluding to the build up of current wealth. I felt its was pure misinformation. Part of my stubborn attitude, limiting my career advancement.

Peace! Here to learn about wealth creation not pick bones. Thank you Master Sifu for the patience.

[quote=Dd2318,Nov 25 2019, 09:16 PM]
Like guy3288 claimed, with SGD30Mil 'bullets in the warchest', just dumping that warchest into FD can earn 40K per mth. Then no need to talk much already,.. brute force this is, to bro aspartame's term,...

[/quote]
Master Sifu,

Hahaha, yes, lastly agree... I just had a bone to pick.

If the author just started with a sgd30mil networth.... No quarrels.

But, he started story of being a specialist etc, alluding to the build up of current wealth. I felt its was pure misinformation. Part of my stubborn attitude, limiting my career advancement.

Peace! Here to learn about wealth creation not pick bones. Thank you Master Sifu for the patience.

[/quote]



Your grammar is eloquent, bro,... truly exceptional,...

Chill Bros, hansel and guy3288.

Don’t argue over a new forummer (who just happened to be tagged here by my son icy, my apologies).

I can see hksgmy likes to “contribute” in kopitiam and serious kopitiam. He also talked casually about his investment there. Got mention about fund investment, australia investment........one leh don’t play play. If he can also “contribute” more in this FBIH section, with numbers, specific investment vehicle, taxation matters for investment, etc (like both of you do so often here), then we know the story lor......got “liao” one....in this forum, cold hard number talks....cannot simply blow water like in those /k forum

Let’s hope to learn from sifu hksgmy here