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

Sunday, 9 September 2018

Rich Dad. Poor Dad. The Viral Worst Parents Video!


Worst parents?

 Read? Parents can be an Asset or Liability to the children?


No. Uncle8888 didn't want to follow his Poor Dad's foot path to become liabilities to his three children. He took the path of Rich Dad to become an asset.

 Some parents are just too poor to plan for their own retirement. There is nothing leftover after providing whatever they have on hand to their children. That is their "best" relatively!
When they are so poor how to reach FI through saving and investing?

 How? Big how?

 To be able to plan for retirement; it is all about absolute savings in dollars!

 Once upon a time; one blogger was happy to announce that he has achieved his $50K savings target for that year. But; another blogger added on that he had saved more than $90K.

 I can. You can!

 ???????

 Median household income in 2017 is $9K per month or $108K per year!

 How many households in Singapore can save more than $90K or $50K?






Posted by Createwealth8888 at 22:13
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2 comments:

  1. Singapore Man of Leisure10 September 2018 at 10:37:00 GMT+8

    CW,

    Simple primary school math.

    If a person "only" needs $50K per year to be financially free, then all he/she needs is to save $50K per year for 20 years. One million dollars invested with conservative 5% yield will provide $50K for life!

    Start work at 25? Then can retire early at 45! Easy peasy! Just through save more only!!!

    But if married and husband or wife stay at home never work, then we either have to save $100K for 20 years or $50K for 40 years.

    Start work at 25, retire financially free at 65 by saving $50K per year. Just nice can collect "bonus" CPF Life payouts too!

    Again, just through save more only! Look! Anyone and everyone can do it!!!


    That's until the rubber hits the road...

    When you realise you earn less than $100K per year...

    Those who earn more than $100K per year can just rely on save more.

    Earn less than $100K per year?

    Perhaps that's why so many are willing to pay thousands of dollars for workshops and courses to learn how to EARN MORE!?

    Those who pay to learn how to save more I don't know what to say... Can't figure things out for themselves?


    Now you know why even at 80 or 90 years young, so many HDB heartlanders still queue to buy Toto!


    ReplyDelete
  2. Jtn248010 September 2018 at 20:41:00 GMT+8

    I set a target to save more than 50%, and at gross I do achieve it. But after deducting the cpf contributions, loan payments, and srs contributions, there really isnt a lot left.

    I hate myself why i try to save so hard, but still not in a position to buy a car, or afford a nice holiday like my peers.

    I seriously don't know how these people do it. I need help.

    ReplyDelete

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