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

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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

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Thursday 27 November 2014

Rich Dad. Poor Dad???

About Uncle8888's late father and his late father-in-law

How much money they leave behind for others to spend?

Poor Dad

Uncle8888's late father leave behind a few thousand dollars that he has been saving up (actually he refused to spend) probably to leave behind something. For Chinese, leaving behind nothing is bad luck to future generations.

Rich Dad

Uncle8888's late father-in-law, a typical China man leave behind for his three sons only and four daughters get nothing. 

  • 4 room HDB flat.
  • 4 Joint Bank accounts for his three sons and his wife. One account each.
  • 4 Gold bars. One each for his three sons and his wife.
  • Portfolio of stocks that were sold at "profit" and distributed among his three sons.

So Uncle8888 will have to decide to become Rich Dad or Poor Dad?

One thing he will not follow his late father-in-law. 

In his Will, all three children have equal share upon his youngest son reaching the age of 27. At age of 27, his youngest son should have reasonable work life experience to manage his own affair and his own future.


  1. Hi bro8888,

    I'm glad you did it. Daughters are as precious as son, perhaps more so, as they will show more care and concern than sons usually. Age 27 is a good point to distribute inheritance. By then, it might hardly matter to them anymore, which is the point. You must give enough yet not too much so that they don't feel like they have to work anymore, at a time when the extra money that comes in doesn't matter much to them. Maybe age 30 is a good point :)

    1. Age of 27 is the advice from lawyer who prepared my Will.

      Actually, I indicated age at 21 which is legally an adult but he advised differently. LOL!

  2. Maybe we should have a scheme that allows inheritance to be used to offset against taxable income only. In this case, the kids (beneficiaries) would get the monetary help in bite sizes (spread across many years) and they only get to enjoy it if they are working / doing business (hence the inflow of taxable income / gains).

  3. Hi Uncle,
    Can I be your godson! Already older than 27. Eligible Liao. Haha

    1. The most pitiful thing in our life is to die as Rich Godfather or Rich Godmother to someone else who then spend happily and laughing at us.

      Ohhh .. that stupid old man or old lady who didn't spend their money.

      Remember China Tour guide!

      Godson. right?

  4. CW8888 : Good dad is more important than poor dad or rich dad :-)

  5. CW, how come you will does not include your wife?

    1. Wife 100%.

      Will of wife is the same.

      Both of us gone then distribute.


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