How Much is Your Net Worth?

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#43
Personally, i think i have lesser cash than a school going kid. My money mostly invested in biz and stock.

I agree with one of the vb that car operating cost should be a comfortable percentage of gross incomes. This is unfortunately not well ingrained in today's youngsters.

Many fail to answer what do they want to achieve at the end of the road. I seen and heard of money investing large sums in biz and people work working to their death beds, but the question of what is one's life goals is often poorly answered or never answered even. Money doesnt solve problems. It is the proper use of it which solves much of life's problems.

I had the same concern about splurging on expensive cars as well. And i could never understand the saying about face and "showing off". How could there be so many more conti cars than jap cars? Its either a case of heavily indebted individuals or seriously wealthy buggers.

When i dumped my expensive conti car (gross running cost exceeding 50 percent of my annual fixed income), i felt great relief because it wasnt what i was longing for. Even though instalments can cover with fixed salary, it was absolute sinful opulence. This opulence is like an addiction which never ends. Dealers, friends and acquaintances still puzzle over the "seemingly illogical" decision to dump the car. This leads to other point that living life is not a game of winning over opinions, but living out what we innately are and believe in.

My point really is, know what is one's goals are in life. Needs and wants are really two different things. The same formula may not work for everyone, but the same questions has to be answered always. Everyone's goals in life are different, so there is really little point in emulating others or (for matter) imposing the same formula on others.

Thats also the same amazing thing about life. There is always more than a few ways to eat the same cake and savour the same taste differently. The same applies to the market. Different ways to eat the same cake and different satisfaction from eating it.

While my account is still recuperating from the massive financial losses due to the car, i learnt an invaluable lesson. Its a learning journey and i have no shame in admitting this silly and foolish mistake.
The thing I am scared most is not nightmares or market crashes..... Its my greed that I fear the most.

When people ask what is my target price, I never have any good answer for it because Philip Fisher said before (in Common Stock Uncommon Profit) that the best time to sell is never. Equity investment is buying into ownership, not betting slips.

The path to greatness and wealth is necessarily dangerous.... because greed is a fearsome fore that threatens your success at every step.
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Messages In This Thread
How Much is Your Net Worth? - by Musicwhiz - 12-12-2014, 09:50 PM
RE: How Much is Your Net Worth? - by Stocker - 12-12-2014, 10:49 PM
RE: How Much is Your Net Worth? - by brattzz - 12-12-2014, 11:02 PM
RE: How Much is Your Net Worth? - by Bibi - 12-12-2014, 11:13 PM
RE: How Much is Your Net Worth? - by corydorus - 12-12-2014, 11:20 PM
RE: How Much is Your Net Worth? - by brattzz - 12-12-2014, 11:24 PM
Welcome back! - by chialc88 - 12-12-2014, 11:24 PM
RE: How Much is Your Net Worth? - by pianist - 13-12-2014, 12:05 AM
How Much is Your Net Worth? - by opmi - 13-12-2014, 01:32 AM
RE: How Much is Your Net Worth? - by specuvestor - 13-12-2014, 01:56 AM
RE: How Much is Your Net Worth? - by pianist - 13-12-2014, 08:49 AM
RE: How Much is Your Net Worth? - by Musicwhiz - 13-12-2014, 09:00 AM
RE: How Much is Your Net Worth? - by kazukirai - 13-12-2014, 11:32 AM
RE: How Much is Your Net Worth? - by opmi - 13-12-2014, 11:59 AM
RE: How Much is Your Net Worth? - by newkeynesian - 13-12-2014, 02:56 PM
RE: How Much is Your Net Worth? - by brattzz - 13-12-2014, 09:25 AM
RE: How Much is Your Net Worth? - by Curiousparty - 13-12-2014, 07:00 PM
RE: How Much is Your Net Worth? - by brattzz - 14-12-2014, 09:43 AM
RE: How Much is Your Net Worth? - by Big Toe - 14-12-2014, 12:26 PM
RE: How Much is Your Net Worth? - by Temperament - 14-12-2014, 02:40 PM
RE: How Much is Your Net Worth? - by LionFlyer - 14-12-2014, 03:21 PM
RE: How Much is Your Net Worth? - by Musicwhiz - 14-12-2014, 10:04 PM
RE: How Much is Your Net Worth? - by CityFarmer - 15-12-2014, 09:36 AM
RE: How Much is Your Net Worth? - by pianist - 15-12-2014, 09:10 PM
RE: How Much is Your Net Worth? - by smallcaps - 14-12-2014, 10:49 PM
RE: How Much is Your Net Worth? - by specuvestor - 15-12-2014, 11:39 AM
RE: How Much is Your Net Worth? - by pianist - 15-12-2014, 09:12 PM
RE: How Much is Your Net Worth? - by lilvestor - 15-12-2014, 01:14 PM
RE: How Much is Your Net Worth? - by corydorus - 14-12-2014, 10:52 PM
RE: How Much is Your Net Worth? - by Temperament - 16-12-2014, 08:34 PM
RE: How Much is Your Net Worth? - by valuebuddies - 16-12-2014, 10:31 PM
RE: How Much is Your Net Worth? - by natnavi - 17-12-2014, 01:23 AM
RE: How Much is Your Net Worth? - by WolfT - 17-12-2014, 01:38 AM
RE: How Much is Your Net Worth? - by CityFarmer - 17-12-2014, 09:19 AM
RE: How Much is Your Net Worth? - by corydorus - 17-12-2014, 07:45 AM
RE: How Much is Your Net Worth? - by paullow - 17-12-2014, 09:36 AM
RE: How Much is Your Net Worth? - by specuvestor - 17-12-2014, 11:09 AM
RE: How Much is Your Net Worth? - by CityFarmer - 17-12-2014, 09:49 AM
RE: How Much is Your Net Worth? - by WolfT - 17-12-2014, 10:27 AM
RE: How Much is Your Net Worth? - by Porkbelly - 17-12-2014, 12:26 PM
RE: How Much is Your Net Worth? - by Temperament - 17-12-2014, 03:57 PM
RE: How Much is Your Net Worth? - by vesfreq - 17-12-2014, 01:00 PM
RE: How Much is Your Net Worth? - by specuvestor - 17-12-2014, 01:09 PM
RE: How Much is Your Net Worth? - by vesfreq - 17-12-2014, 05:05 PM
RE: How Much is Your Net Worth? - by valuebuddies - 17-12-2014, 05:03 PM
RE: How Much is Your Net Worth? - by Porkbelly - 17-12-2014, 07:27 PM
RE: How Much is Your Net Worth? - by pianist - 17-12-2014, 11:27 PM
RE: How Much is Your Net Worth? - by Musicwhiz - 18-12-2014, 12:09 AM
RE: How Much is Your Net Worth? - by CityFarmer - 18-12-2014, 10:12 AM
RE: How Much is Your Net Worth? - by pianist - 18-12-2014, 12:52 AM
RE: How Much is Your Net Worth? - by yewkim - 18-12-2014, 01:30 AM
RE: How Much is Your Net Worth? - by Temperament - 18-12-2014, 10:50 AM
RE: How Much is Your Net Worth? - by yewkim - 19-12-2014, 12:33 AM
RE: How Much is Your Net Worth? - by valuebuddies - 18-12-2014, 02:06 PM
RE: How Much is Your Net Worth? - by specuvestor - 18-12-2014, 03:12 PM
RE: How Much is Your Net Worth? - by mrEngineer - 18-12-2014, 06:08 PM
RE: How Much is Your Net Worth? - by Musicwhiz - 18-12-2014, 10:51 PM
RE: How Much is Your Net Worth? - by yewkim - 19-12-2014, 01:19 AM
RE: How Much is Your Net Worth? - by Temperament - 19-12-2014, 04:48 AM
RE: How Much is Your Net Worth? - by orangetea - 19-12-2014, 10:32 AM
RE: How Much is Your Net Worth? - by Temperament - 19-12-2014, 11:03 AM
RE: How Much is Your Net Worth? - by yewkim - 19-12-2014, 08:01 PM
RE: How Much is Your Net Worth? - by Temperament - 19-12-2014, 08:38 PM
RE: How Much is Your Net Worth? - by yewkim - 21-12-2014, 03:11 AM
RE: How Much is Your Net Worth? - by Temperament - 21-12-2014, 01:05 PM
RE: How Much is Your Net Worth? - by yewkim - 19-12-2014, 09:05 AM
RE: How Much is Your Net Worth? - by edragon - 19-12-2014, 08:53 PM
RE: How Much is Your Net Worth? - by paullow - 19-12-2014, 09:22 PM
RE: How Much is Your Net Worth? - by CY09 - 19-12-2014, 09:27 PM
RE: How Much is Your Net Worth? - by LionFlyer - 19-12-2014, 11:37 PM
RE: How Much is Your Net Worth? - by corydorus - 20-12-2014, 12:02 AM
RE: How Much is Your Net Worth? - by pianist - 20-12-2014, 12:08 AM
RE: How Much is Your Net Worth? - by pianist - 20-12-2014, 06:52 AM
RE: How Much is Your Net Worth? - by corydorus - 20-12-2014, 08:07 AM
RE: How Much is Your Net Worth? - by pianist - 20-12-2014, 08:30 AM
RE: How Much is Your Net Worth? - by Temperament - 20-12-2014, 09:59 AM
RE: How Much is Your Net Worth? - by HitandRun - 20-12-2014, 10:30 AM
RE: How Much is Your Net Worth? - by Temperament - 20-12-2014, 11:06 AM
RE: How Much is Your Net Worth? - by brattzz - 20-12-2014, 10:33 AM
RE: How Much is Your Net Worth? - by pianist - 20-12-2014, 04:36 PM
RE: How Much is Your Net Worth? - by pianist - 21-12-2014, 09:06 AM
RE: How Much is Your Net Worth? - by yewkim - 27-12-2014, 12:52 PM
RE: How Much is Your Net Worth? - by dreamybear - 03-07-2022, 09:38 PM
RE: How Much is Your Net Worth? - by BRT - 03-07-2022, 11:09 PM
RE: How Much is Your Net Worth? - by specuvestor - 04-07-2022, 12:13 AM
RE: How Much is Your Net Worth? - by weijian - 04-07-2022, 10:26 AM
RE: How Much is Your Net Worth? - by dreamybear - 10-07-2024, 07:48 PM
RE: How Much is Your Net Worth? - by weijian - 11-07-2024, 10:46 AM
RE: How Much is Your Net Worth? - by specuvestor - 11-07-2024, 12:45 PM
RE: How Much is Your Net Worth? - by ksir - 11-07-2024, 04:17 PM

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