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(10-01-2014, 10:37 PM)pianist Wrote: there was a report that said every 3 in 10 walking on the streets is a millionaire, seems like there are many accidents on this island
r u one too? Ha! Ha!
That means the book "The Millionaire Next Door' is applicable in Singapore too.
WB:-
1) Rule # 1, do not lose money.
2) Rule # 2, refer to # 1.
3) Not until you can manage your emotions, you can manage your money.
Truism of Investments.
A) Buying a security is buying RISK not Return
B) You can control RISK (to a certain level, hopefully only.) But definitely not the outcome of the Return.
NB:-
My signature is meant for psychoing myself. No offence to anyone. i am trying not to lose money unnecessary anymore.
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(10-01-2014, 10:37 PM)pianist Wrote: there was a report that said every 3 in 10 walking on the streets is a millionaire, seems like there are many accidents on this island
r u one too?
Rupiah millionaires!
"... but quitting while you're ahead is not the same as quitting." - Quote from the movie American Gangster
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11-01-2014, 12:24 AM
(This post was last modified: 11-01-2014, 12:25 AM by opmi.)
(10-01-2014, 10:37 PM)CY09 Wrote: (09-01-2014, 01:45 PM)opmi Wrote: (09-01-2014, 09:50 AM)gautam Wrote: hi yeokiwi,
you are sharp. me n my girlfriend(now my wife) bought a pte ppty before we married. then suddenly came my daughter, so had to speed up my marriage. we bought the house because we figured that there might be some friction if we lived together after marriage.
i guess with the house, my family.to support, bills to pay, those drove me to work extra hard.
I observe marriage (or pressure to get married) and baby are great motivations for man to work hard.
Just a general observation. sometimes I think a lot of pte property owners (70s babies) got first pte property/HDB due to lifecycle stage (marriage) at the early stage of this property boom. Rather than by deliberate investment decision.
Same thing. A lot of young people will get pte prop/HDB at the current high of property market due to lifecycle stage (marriage).
Opmi, your statement reminds me of Malcolm Gladwell's Tipping point. He mentions an individual's success depends a lot on his environment and sociological factors.
Perhaps we can apply it here and say the 60s and 70s SG babies are well off because they happened to be born at the right place at the right time, while the current young generation got the short end of the straw (well maybe). The simple reason: the respective generations' lifecycle stage (marriage) coinciding with the boom or bust of the property cycle.
Yes. That's my observation. Those 70s and 80s babies who married younger generally did well in the property boom. Coz low housing expenses with increasing income lead to expansion in disposable incomes. Asset inflation increased net worth.
I think the book u referring to is outliers. I haven't read tipping point yet.
http://en.wikipedia.org/wiki/Outliers:_T...ess_(book)
"... but quitting while you're ahead is not the same as quitting." - Quote from the movie American Gangster
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11-01-2014, 12:44 AM
(This post was last modified: 11-01-2014, 07:51 AM by opmi.)
(10-01-2014, 08:34 PM)gautam Wrote: thanks chialc88.
to some extent, I think who you decide as your life-long partner is very important and influences one's chances of becoming wealthy. you can't be wealthy if one would to work like no tomorrow, only to have the other party doing the exact opposite and living the high life.
Some of us have heard a real life experiences whereby the wife stuck thick and thin with the husband when he was a pauper and the moment he became rich, he bought himself a supercar and remarried a younger woman.
In doing so, actually, he would have lost a big asset (his wife) and gained two liabilities supercar and the younger woman.
Agreed. A supportive and independent wife is a plus.
High maintenance (in time and attention) is a negative.
Low self esteem people whole day pattern liao liao.
Single young VBs should take note......know when to cut loss. rather be single than to suffer in marriage.
"... but quitting while you're ahead is not the same as quitting." - Quote from the movie American Gangster
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(11-01-2014, 12:44 AM)opmi Wrote: (10-01-2014, 08:34 PM)gautam Wrote: thanks chialc88.
to some extent, I think who you decide as your life-long partner is very important and influences one's chances of becoming wealthy. you can't be wealthy if one would to work like no tomorrow, only to have the other party doing the exact opposite and living the high life.
Some of us have heard a real life experiences whereby the wife stuck thick and thin with the husband when he was a pauper and the moment he became rich, he bought himself a supercar and remarried a younger woman.
In doing so, actually, he would have lost a big asset (his wife) and gained two liabilities supercar and the younger woman.
Agreed. A supportive and independent wife is a plus.
High maintenance (in time and attention) is a negative.
Low self esteem people whole day pattern liao liao.
Single young VBs should take note......know when to cut loss. rather be single than to suffer in marriage.
Yup, the book is outliers, Tipping point is about what causes a rise in popularity of events etc.
And thanks for the advice for single young VBs (I am one). will keep that in mind
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Actually it's very hard to know another person make-up until the person shows how he reacts in a few "difficult situations". But i think you can gauge quite early from the beginnings if a person is "心 术 不 正"(pervert or twisted mind) or not. If he is be very careful with him. The best is get as far as possible. Sometimes, it is impossible to do it.
That's why we have Moderators in this blog if not close shop already.
Thank you very much.
Shalom.
WB:-
1) Rule # 1, do not lose money.
2) Rule # 2, refer to # 1.
3) Not until you can manage your emotions, you can manage your money.
Truism of Investments.
A) Buying a security is buying RISK not Return
B) You can control RISK (to a certain level, hopefully only.) But definitely not the outcome of the Return.
NB:-
My signature is meant for psychoing myself. No offence to anyone. i am trying not to lose money unnecessary anymore.
Posts: 2,744
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(11-01-2014, 08:59 AM)Temperament Wrote: Actually it's very hard to know another person make-up until the person shows how he reacts in a few "difficult situations". But i think you can gauge quite early from the beginnings if a person is "心 术 不 正"(pervert or twisted mind) or not. If he is be very careful with him. The best is get as far as possible. Sometimes, it is impossible to do it.
That's why we have Moderators in this blog if not close shop already.
Thank you very much.
Shalom.
no need to wait for 'difficult situations'. By then, too late already.
can learn by observing the 'little things' a person do - whole day never pay for their own drinks or movie tickets (not automatic), not generous, boast about his own achievements, whole day want to do 'short-cuts', using pirated Windows, re-use parking coupons etc. "To do big things, must be faithful with small things"
"... but quitting while you're ahead is not the same as quitting." - Quote from the movie American Gangster
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(11-01-2014, 10:14 AM)opmi Wrote: (11-01-2014, 08:59 AM)Temperament Wrote: Actually it's very hard to know another person make-up until the person shows how he reacts in a few "difficult situations". But i think you can gauge quite early from the beginnings if a person is "心 术 不 正"(pervert or twisted mind) or not. If he is be very careful with him. The best is get as far as possible. Sometimes, it is impossible to do it.
That's why we have Moderators in this blog if not close shop already.
Thank you very much.
Shalom.
no need to wait for 'difficult situations'. By then, too late already.
can learn by observing the 'little things' a person do - whole day never pay for their own drinks or movie tickets (not automatic), not generous, boast about his own achievements, whole day want to do 'short-cuts', using pirated Windows, re-use parking coupons etc. "To do big things, must be faithful with small things" Agree. Only though some people are more forgiving or tolerant. Still have to becareful.
WB:-
1) Rule # 1, do not lose money.
2) Rule # 2, refer to # 1.
3) Not until you can manage your emotions, you can manage your money.
Truism of Investments.
A) Buying a security is buying RISK not Return
B) You can control RISK (to a certain level, hopefully only.) But definitely not the outcome of the Return.
NB:-
My signature is meant for psychoing myself. No offence to anyone. i am trying not to lose money unnecessary anymore.
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True, a lot of discipline needed.
Unless your Daddy is Bill Gates.
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