The Need to Invest

[pianist]

For a 65yo to chat here is indeed commendable, well ahead of many in your cohort.

[Temperament]

Hi Felix,
Nah!
i think age doesn't really counts though experiences do. Of course the longer you survive the more experiences you have.
Hi pianist,
Sorry can you elaborate? i have been seeing your postings for sometime already.

[Dividend Warrior]

from my personal experience,

its hardest to go from 10k to 100k, once you get that 100k, its easier to make 1M.

With one still holding on to a fulltime job with the right investment strategies and living fugally, I think 1M is very easily achieveable by 40yr, cos by then one would have already worked a good 15-20years anyway.

I agree. Breaching that 100k mark is the hardest. But journey gets smoother after that.

I have invested around 190k so far over the past 4 years and I can already start to see the compounding effect.

However, if a man has a wife and kids to support, reaching 1M by 40 is unlikely.....

---

Temperament just curious, may I know how old are you now?

Ha! Ha!
Of course you are new. Many "old timers" know i am 65+ already.

Wow......an IT-savvy 65 year old!!!!!

[felixleong]

have kids and wife is really quite difficult to grow wealth

weddings, honeymoon, house, car, kids etc so much liabilities

that's why I very respect those who have family yet are determined enough to set aside money and time to build their portfolio

respect!

[paullow]

from my personal experience,

its hardest to go from 10k to 100k, once you get that 100k, its easier to make 1M.

With one still holding on to a fulltime job with the right investment strategies and living fugally, I think 1M is very easily achieveable by 40yr, cos by then one would have already worked a good 15-20years anyway.

I agree. Breaching that 100k mark is the hardest. But journey gets smoother after that.

I have invested around 190k so far over the past 4 years and I can already start to see the compounding effect.

However, if a man has a wife and kids to support, reaching 1M by 40 is unlikely.....

Because its quite unlikely that both husband and wife share the same money views, let alone which stock to invest. Even if he feels that he has a great investment idea, his wife might come to say "no, that's too risky, what if u fail? think of your wife and ur kids....etc'' In end, he just works as a salaried employee for his lifetime as that would seemed to be the most secure thing to do and queues for toto in his freetime.

ah...that's just too common here in s'pore...

(of course, exceptions do exists)

[Temperament]

from my personal experience,

its hardest to go from 10k to 100k, once you get that 100k, its easier to make 1M.

With one still holding on to a fulltime job with the right investment strategies and living fugally, I think 1M is very easily achieveable by 40yr, cos by then one would have already worked a good 15-20years anyway.

I agree. Breaching that 100k mark is the hardest. But journey gets smoother after that.

I have invested around 190k so far over the past 4 years and I can already start to see the compounding effect.

However, if a man has a wife and kids to support, reaching 1M by 40 is unlikely.....

---

Temperament just curious, may I know how old are you now?

Ha! Ha!
Of course you are new. Many "old timers" know i am 65+ already.

Wow......an IT-savvy 65 year old!!!!!

Nah!
i am a ITE trained electronic technician who believe in learning for life.

[paullow]

from my personal experience,

its hardest to go from 10k to 100k, once you get that 100k, its easier to make 1M.

With one still holding on to a fulltime job with the right investment strategies and living fugally, I think 1M is very easily achieveable by 40yr, cos by then one would have already worked a good 15-20years anyway.

I agree. Breaching that 100k mark is the hardest. But journey gets smoother after that.

I have invested around 190k so far over the past 4 years and I can already start to see the compounding effect.

However, if a man has a wife and kids to support, reaching 1M by 40 is unlikely.....


Because its quite unlikely that both husband and wife share the same money views, let alone which stock to invest. Even if he feels that he has a great investment idea, his wife might come to say "no, that's too risky, what if u fail? think of your wife and ur kids....etc'' In end, he just works as a salaried employee for his lifetime as that would seemed to be the most secure thing to do and queues for toto in his freetime.

ah...that's just too common here in s'pore...

(of course, exceptions do exists)

---

Because its quite unlikely that both husband and wife share the same money views, let alone which stock to invest. Even if he feels that he has a great investment idea, his wife might come to say "no, that's too risky, what if u fail? think of your wife and ur kids....etc'' In end, he just works as a salaried employee for his lifetime as that would seemed to be the most secure thing to do and queues for toto in his freetime.

ah...that's just too common here in s'pore...

(of course, exceptions do exists)

---

from my personal experience,

its hardest to go from 10k to 100k, once you get that 100k, its easier to make 1M.

With one still holding on to a fulltime job with the right investment strategies and living fugally, I think 1M is very easily achieveable by 40yr, cos by then one would have already worked a good 15-20years anyway.

I agree. Breaching that 100k mark is the hardest. But journey gets smoother after that.

I have invested around 190k so far over the past 4 years and I can already start to see the compounding effect.

However, if a man has a wife and kids to support, reaching 1M by 40 is unlikely.....

---

Temperament just curious, may I know how old are you now?

Ha! Ha!
Of course you are new. Many "old timers" know i am 65+ already.

Wow......an IT-savvy 65 year old!!!!!

Nah!
i am a ITE trained electronic technician who believe in learning for life.

Because its quite unlikely that both husband and wife share the same money views, let alone which stock to invest. Even if he feels that he has a great investment idea, his wife might come to say "no, that's too risky, what if u fail? think of your wife and ur kids....etc'' In end, he just works as a salaried employee for his lifetime as that would seemed to be the most secure thing to do and queues for toto in his freetime.

ah...that's just too common here in s'pore...

(of course, exceptions do exists)

---

strange no words came in my last post.

was trying to say even if a man is investm savvy his wife might.not approve n deem it too risky. to her, job security might be the most impt esp if kids come along.
thus sadly, many a man are just stuck in a employed job their whole life n spend their money paying off their houses n mortgages with many queueing up to buy toto.
thats a common sight in s'pore.

N.B. Hi Paullow, you missed the /quote closing tag.

[WolfT]

from my personal experience,

its hardest to go from 10k to 100k, once you get that 100k, its easier to make 1M.

With one still holding on to a fulltime job with the right investment strategies and living fugally, I think 1M is very easily achieveable by 40yr, cos by then one would have already worked a good 15-20years anyway.

I agree. Breaching that 100k mark is the hardest. But journey gets smoother after that.

I have invested around 190k so far over the past 4 years and I can already start to see the compounding effect.

However, if a man has a wife and kids to support, reaching 1M by 40 is unlikely.....

---

Temperament just curious, may I know how old are you now?

Ha! Ha!
Of course you are new. Many "old timers" know i am 65+ already.

Wow......an IT-savvy 65 year old!!!!!

Nah!
i am a ITE trained electronic technician who believe in learning for life.

Uncle Temperament... 45yrs ago ite is consider very educated liao hor...

[Temperament]

from my personal experience,

its hardest to go from 10k to 100k, once you get that 100k, its easier to make 1M.

With one still holding on to a fulltime job with the right investment strategies and living fugally, I think 1M is very easily achieveable by 40yr, cos by then one would have already worked a good 15-20years anyway.

I agree. Breaching that 100k mark is the hardest. But journey gets smoother after that.

I have invested around 190k so far over the past 4 years and I can already start to see the compounding effect.

However, if a man has a wife and kids to support, reaching 1M by 40 is unlikely.....

---

Temperament just curious, may I know how old are you now?

Ha! Ha!
Of course you are new. Many "old timers" know i am 65+ already.

Wow......an IT-savvy 65 year old!!!!!

Nah!
i am a ITE trained electronic technician who believe in learning for life.

Uncle Temperament... 45yrs ago ite is consider very educated liao hor...

It may be true to a certain extent. i saw with my own eyes many poly-graduates rose to top management or is "somebody" today. While i am still struggling to excel in this "passive business" even after 25 years.

[Penguin Papa]

from my personal experience,

its hardest to go from 10k to 100k, once you get that 100k, its easier to make 1M.

With one still holding on to a fulltime job with the right investment strategies and living fugally, I think 1M is very easily achieveable by 40yr, cos by then one would have already worked a good 15-20years anyway.

I agree. Breaching that 100k mark is the hardest. But journey gets smoother after that.

I have invested around 190k so far over the past 4 years and I can already start to see the compounding effect.

However, if a man has a wife and kids to support, reaching 1M by 40 is unlikely.....

---

It's all on how prudent and determined is the family. Consider a graduate couple both start working at 25, each earning an average salary of $50,000 per annum over 15years, they should have earned a total of $1,500,000 when they are 40. Take $500,000 divide by 15 gives $33,333 a year of average spending, or $3000 a month. Is that too much or little?