Sharing the truth on example of Rich Assets and Good Assets through real life experience!
So what when you are younger in Rich Assets e.g. CPF Millionaire! Know the difference between Good Assets and Rich Assets before we realized it too late! The moral of the story, can we just follow the best example of building retirement wealth without seriously knowing the depth of buffering of our Rich Assets and Good Assets in our net worth. Life crisis may happen when we are not expecting it to happen!
With several insurance policies, CPF saving, investment portfolio and a fully paid 4 room HDB flat; the counting of money showed that it was not that bad. His family should be able to "tong" through the next 15 years without too much financial hardship.
In fact his CPF saving, investment portfolio and a fully paid 4 room HDB flat already made him a Millionaire in assets value; but he couldn't afford to take 1 to 2 months no-pay leave after using up his 90 days hospitalization leaves. This life experience has taught him experiential wisdom to see the difference between Rich and Wealthy.
A million dollar in asset value can make us feel rich; but not necessary we are wealthy enough to afford thing that we want even it is just about $X,XXX in value.
Read? The Difference Between Smart Financial Advice and Smart Financial Advice For You (3)
Read? Counting So Hard On How Much Money Is Enough? (2)
Read? 15th Year Anniversary
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Hello! I have been exploring if i should park cash into SRS to reduce tax. Like to get your guru opnion.
ReplyDeleteCW,
ReplyDeleteI'm very impressed with our 5,000 years of Chinese wisdom.
Far water cannot save near fire ;)
That's why "eat oil heavy heavy" women knew instinctively who to "weed" out.
What's the point if that old goat can't afford a Chanel bag on the spot despite his millions?
a typical sg is asset rich and cash poor
ReplyDeleteI think those who follow Uncle8888 knows his crash got sound experience emphasises having sufficient access to liquidity when SHTF (no, not for Chanel bag 🤣).
ReplyDeleteIf you guys have seen the personal finance pyramid, you'll know that investing (including properties) or trading is the least important component. 😉