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Yes, most sporens imho will go for 1.5m house after the windfall. Greed is a very big in SG. Cannot say it's a good/bad thing. One thing for sure, these must not have financial trouble in future. Else balls shrink.
I see the 500K you will be financially free..... I'm laughing. Seriously, I don't feel it even I do not have any liabilities except the regular insurance premiums, I have cash more than 500K, having a job, and having a passive stream of income, I still don't think I'm financially free... Just don't feel secure, probably, I do not know how much my savings can cover my expenses for how many years if I'm not working....
That's the voted median amount =) It can be reasonable actually. Different walks of life have different expectations. $500k is enough for FIRE if monthly expenses are $1700... question becomes is $1700/m ok with expectations
your laughing but yet you dont feel secure and dunno how much savings can cover your expenses? how lost are you? you sound lost yet you are laughing at an amount that acutally works for others?
@@Longtermalwayswins I'm laughing is kind of asking a question - are you sure you got enough? What I'm trying to say that I have more, yet I don't' feel I'm financially free.
With inflation, I think $500k will not provide a reasonable retirement lifestyle, unfortunately… thanks for the one line of wisdom, and the simple solutions (which I will not repeat here, for viewers to find out themselves!) great advice
Warren buffet also said " Market fluctuations are your friend, not your enemy...profit from the folly rather than participate in it.". Thus, a stock market sale is the only sale customers run out of the store.
Josh, do you have ideas for tax management. I just crossed 6 digit personal income tax this year (latest YA!!!) and it hurts like heck. Middle-class being squeezed. I am sure the rich have ways to tax avoid / evade / manage and we are the ones being most affected and contribute the most to nation building!!
@@joshconsultancy I am in traditional finance. Thanks but it is really hard as a single income breadwinner who has to support 4 aged parents (include wife's), 4 kids and spouse. People like me are the forgotten and neglected class. And we have to bear the highest tax burden.
@@cryptot8531no easy solution. Need to make sure spouse work. If spouse can bring in 100k per annum, then ur tax problem and the other set of 2 aged parents problem will go away. I only pay 30k tax PA, but i insist my spouse work. Talk to your spouse, and hope ur spouse can lighten ur financial burden. In my opinion if sole breadwinner easy for the entire family to lifestyle inflate. A working spouse will reduce lifestyle inflation.
agree and to add, those who recommend only xxxx, may have hidden agenda. so, "what makes a good dividend stock?" learn from Josh youtube and attend Josh's Investing summit.😅 not sponsored.
@@joshconsultancy Why exclude CPF, considering if some cases that some may use cash instead of CPF to pay mortgage. Then, their cash savings will be reduced significantly. In the flip side, if a CPF OA rich person uses all his CPF to pay the mortgage then his cash savings would look much more. That’s why I think this part needs more clarification.
