Personal experience: easy come easy go, hard come hard go. I'm 4 yr to 50 yr old. $ is just like a gust of wind, comes and goes from and to nowhere, makes one wondering "what's going on".
Willing to share my "history":
- I earned $2/hr during poly's holiday, many many yr back.
- "Earned" $90/mnth as CPL as fulltime national service.
- Starting pay $650/mnth, after ROD from army
- 3 months before ROD, bought a 2nd hand "Honda Rider" for 2k. Minor accidents here & there. Gave up motorcycle after being sent to hospital by ambulan 2yrs later.
- $1064 in 1984 while joining MRTC....
-Married in 1993, borrowed 18K from granny's "coffin money" for reno & some stuff. Earned and cleared within a yr.
- Got a 5rm hdb in Sept 1992, for 124K, cleared loan 6 yrs later, all cpf. Sold for 450k in 2007.
-First boy come to world in 1995, now in RI sec 3.
- Bought my 1st 2nd hand "Toyata Starlet" for 21k in 1996.
- Girl come to world in 1997, same day she came, first time car accident - knock by ppl. She now in sec 1, Bedok Green.
- Cars keep changing from Mitshibishi Lancer/Kia 7 seater/Mitshibishi/now Toyota.
- Bought a 3 bedrm in Baywater, cleared loan within a yr. Stayed for 3.2 yr. Bought at 616k in 2005July, sold for 850k in Sept 2009.
- Business travel......."take plane like taking bus" - wife quoted, > 20 countries. See snow, sun rise/set on offshore platforms, sand storm in Egype, warded in Korean hospital, housefly bigger than thumb in Brazil jungle, swimming in yellow sea,......many many unforgetteble...
- Enough is enough, switched job.....no more travel! That was 7 yrs ago.
- Now as a small & humble manager, 6K+/mnth salary.
- 80k loan ,out of 528k, yet to clear, after another 10 months.
- Car loan 24k, can clear anytime, but do not wish to.
- Abt 200K in stock mkt "in" and "out". Average can "make" 2k~3k/mnth. Last yr recorded 36k income from Feb to Sept. Stopped from end Sept 2009 ~ feb 2010, for resale house & reno.
- Back to market again Mar 2010, till now already made abt 14K.
- Enjoy hobbies whenever has time, with wife & children.
$ comes & goes like gust of wind, be contented. No start & no end. But we come from dust & will go to dust. Get wisdom - $ cannot but, worth to spend time & efforts to "chase after".
Technically possible.
- Car is sure "wasting money"- need not to be big & branded, so long as to transport u here & there can already. Petrol/insurance/parts replacement are going upwards, roadtax heads east for a few years.
- Condo, paying $370/mnth for maintenance fee, bbq, swimming, carpark, tennis, security...Personally concluded "not worth" after staying 3 years in Baywater. Higher living standard always need to pay more, this rule applies to all.
- Learnt 1 important rule/fact here to make more $$$: make your first $100k cash first, whether by saving, selling....
- "Learn" to invest yourself, test your judgement....be prepared to pay "expensive school fee".
- My experience :coverted SGD to USD, earned interests every 3 months, rate kept dropping (loss $), convert USD to SGD then to NZD, earned high interest and gained capital gain! But now no more such lobangs. Waiting for RMB to float.
-Standby for rainy days - get a taxi license or swimming instructor cert, be a part time real estate agent to gain experence....Insurance agent needs to talks a lot, right segment.......
- Need financial planning, best equip with spreadsheet knowledge. Calculate yr annual income vs expense. Set target. Explore new income sources, always start from part time then full time...
- Must know the rule of breakeven, then u know where u stand..
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