Friday 13 June 2014
More money probably won't make us significantly happier???
Just For Thinking ....
More money probably won't make us significantly happier?
Hard Truth: Lack of money will definitely made us unhappy so we should not be trapped in lack of money situation through good financial planning and budgeting well ahead of our future needs.
Sometime the thought of it already made us unhappy!
Uncle8888 has learned this painful lessons in 2008 GFC for his two children university fund where he was forced to cut his losses in Nov 2008 due to fear of Depression 2.0 to raise $80K in cash to ready this uni fund for his children starting their first semester in Jul 2009.
This time round he has "foolishly" placed $100K in FD (4 x $25K) for his youngest son.
Why bother to get another $X,XXX more?
It is better for him to "foolishly" sleep well with $X,XXX lesser. Right?
Same hard truth for his retirement income for life model.
He is "foolishly" happy to have lower return for Tap 1 (Target to be 67% of his annual expenses @ 3% inflation rate) till 80 years old.
Think of those potential compounding gains for an investor who talked so much on investing. KNS!
Read? Retirement Income For Life Planning Model
Read? More on happiness ....
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CW,
ReplyDeleteSitting down in front of PC with excel file extrapolating the magical impact of compounding interests is DIFFERENT from living with the occasionall negative compounding returns in real life ;)
It's nice to be able to give "scholarships" to your own children.
You the man!
CW,
DeleteYes man, you the man. Under such circumstances of restraint (aka taking care of your children "scholarships), i say you do very well already. Not KNS lah!
Hi Uncle CW,
DeleteYou very good leh, sponsor uni for your children. I have to work and study to support myself. But I don't regret it coz I manage to pay my full uni fees and still able to have a substantial savings plus working experience.
Actually, the "sponsorship" come from Keppel Corp and not from me. LOL!
DeleteRead? Createwealth8888's Three Children University Fund