Of cos... Very correct...

Me just assuming all of us deserve 90 diamonds... Also assuming we all are lucky....

The bold part, I always tell a friend of mine, who says himself as frugal, but at the extreme side, the same thing. I told him it will just be some number on the account passbook or dashboard if he never really spend them.

Actually correction, money is yours as long as you are alive and kicking even though you didn't spend it.

I am also extremely frugal.

I think one solution is by the time one reach 80 yo and still alive, just set the wr to 10% of whatever outstanding wealth one has (after distributing any inheritance one wish to bestow away).
If by 90 still alive, set wr to 15%.

What does everyone think of this idea?
It's a plan I think I may put in place when I reach 80... If still alive of course.

I think,
For your above, ..
Maybe by the time, .... the children could be char siew ( does not take care of you) or they migrated overseas ( leaving you alone here) or children got bedridden after/since adulthood or children die earlier than you, etc etc.
((I hv seen these types of happenings ))

The parent (alone, spouse past away or spouse too weak to support each other), end up hv to donate the assets to the Aged Home, so as to be qualify to be a long term resident.

They bypass that donation by transferring assets to their not direct family members but family members that do the Aged Home admission process.

money is not yours if never spent

i wont buy into that gimmick
money not spent is not yours

it is better to die rich
than die broke want 'to own all the money'
the wrong way!




yes that is common sense

money spent is money gone
how can it be yours pulak..

money not spent is your money
your security, your investment power
your protection for emergencies

wealth cannot be measured by spending

many spend money to look rich
few keep money to stay rich

What it meant is you don't get to enjoy the money if you never use it.

Ownership and the user will be different. Only if you when will be your last day seeing the sun rise and spend accordingly, the money you have will just be another number in your life, age, weight, height etc.
Today if you die, who will be the user of your money? If you have heir or do your will, someone will thank you for your effort. Else the country will say thank you very much. This quote is not asking you to YOLO or splurge, but periodically reward yourself, if you truly understand "the money is not yours" and it's not talking about ownership rather the user


Haha, you do understand it well

This post has been edited by jasontoh: Yesterday, 06:25 PM

you think i dont know?
more like you guys dont know (me)
from my many critical posts here

About 23 years ago, a friend of mine said something to me.
He is 78 today, a retired airline pilot. He was one of the founding captains when MH started. Big frugal fella.
One day i asked him why he lead a frugal life with about rm8-9mil of liquidity at that time. He said this to me. What if I live to 100 years old.
Today he is fit as a fiddle and travelling the world on a motorcycle.
I guess a lifelong practice is hard to break. His kids would probably have a substantial inheritance.

sorry, i find this story interesting and hope you don't mind I ask some question to get a bit of clarity.

he is 78 today, so he told you the story when he was 55 at retirement age?

he had 9m back in 2002 or today?
at 78, his kids also 50 thereabout now rite?