I started serious Investing Journey in Jan 2000 to create wealth through long-term investing and short-term trading; but as from April 2013 my Journey in Investing has changed to create Retirement Income for Life till 85 years old in 2041 for two persons over market cycles of Bull and Bear.

Since 2017 after retiring from full-time job as employee; I am moving towards Investing Nirvana - Freehold Investment Income for Life investing strategy where 100% of investment income from portfolio investment is cashed out to support household expenses i.e. not a single cent of re-investing!

It is 57% (2017 to Aug 2022) to the Land of Investing Nirvana - Freehold Income for Life!

Click to email CW8888 or Email ID : jacobng1@gmail.com



Welcome to Ministry of Wealth!

This blog is authored by an old multi-bagger blue chips stock picker uncle from HDB heartland!

"The market is not your mother. It consists of tough men and women who look for ways to take money away from you instead of pouring milk into your mouth." - Dr. Alexander Elder

"For the things we have to learn before we can do them, we learn by doing them." - Aristotle

It is here where I share with you how I did it! FREE Education in stock market wisdom.

Think Investing as Tug of War - Read more? Click and scroll down



Important Notice and Attention: If you are looking for such ideas; here is the wrong blog to visit.

Value Investing
Dividend/Income Investing
Technical Analysis and Charting
Stock Tips

Thursday, 10 May 2018

Business Leverages And Personal Leverages. (2)


Read? Business Leverages And Personal Leverages.

 It is world between personal bankruptcy and private limited/limited company bankruptcy!

 Don't anyhow hor!

 Personal bankruptcy may drag in the whole family together to suffer!
What do we know about Donald Trump's four bankruptcies?

 Trump describes these bankruptcies as if no one was hurt in the process, except high rollers and sharks. He says that he has started hundreds of companies, but only used bankruptcy proceedings four times


 He and his family were never hurt by any of these four bankruptcies!
Posted by Createwealth8888 at 21:12
Labels:

6 comments:

  1. Createwealth888810 May 2018 at 21:15:00 GMT+8

    Similarly Rich Dad. Poor Dad also bankrupt once; but he is still multi-millionaire today!

    ReplyDelete
  2. Unknown10 May 2018 at 21:51:00 GMT+8

    For many small companies in S'pore ... Banks still require the directors to act as personal guarantors for company loans.

    Coz banks know that small companies not much assets & during bad times operating cash flows dry up.

    Hence many small biz men family homes n personal savings are on the line even though pte ltd company. :O

    Spur😃

    ReplyDelete
    Replies
    1. Createwealth888810 May 2018 at 22:04:00 GMT+8

      FORMER Nominated MP Chia Shi Teck on Wednesday lost his appeal against being made bankrupt but will hardly go through life as a pauper.

      In fact, in his own words, he will be a “million-dollar bankrupt.”

      This is because Chia, who just turned 55, will have a six-figure sum in his Central Provident Fund if he sells his terrace house in Loyang Rise, which was bought partly with his CPF savings.

      Since creditors cannot seize CPF funds, Chia can technically keep the money.

      Chia, once executive chairman of the Sesdaq-listed garment company Heshe Holdings, owed four banks about $17.5mil (RM37mil) and was declared a bankrupt on July 18.


      Read more at https://www.thestar.com.my/news/regional/2003/08/15/former--nominated-mp-to-stay-a-bankrupt/#g5JhmJTGVQoQ0sAV.99

      Delete
    2. Createwealth888810 May 2018 at 22:08:00 GMT+8

      The moral of story i top up your CPF to the max before venturing out with other pple money.

      Delete
    3. Unknown11 May 2018 at 00:58:00 GMT+8

      Under CPF Act, once you withdraw your monies it can be subject to creditors.

      Hence he cannot withdraw a lot ... Maybe just enough to cover very modest expenses.

      Anyway will be managed by official assignee in terms of amount & frequency of withdrawal.

      At least leftover cpf monies won't be part of his estate after death for creditors to go after ... Will go to his nominees for them to enjoy haha.

      Spur😃

      Delete
  3. Singapore Man of Leisure11 May 2018 at 08:39:00 GMT+8

    CW

    Moral of story:

    Front afraid of wolf, back afraid of tiger - read Rich Dad Poor Dad only sees passive income.

    Youths (and those young at heart) who don't know what cannot be done - read Rich Dad Poor Dad only see the advantage of being Business OWners ;)


    We see what we want to see.

    Can't make it in trading say trading toxic.

    Can't study say study so much for what?

    Can't emigrate say those that do "unpatriotic"...

    Can't get married say single life fantastic!

    LOL!



    ReplyDelete

Subscribe to: Post Comments (Atom)
Related Posts with Thumbnails