Homepage
PR Newswire
03-11-2011, 02:34 PM
(This post was last modified: 05-11-2011, 03:29 PM by Temperament.)
(03-11-2011, 01:41 PM)Musicwhiz Wrote:(03-11-2011, 12:22 PM)kazukirai Wrote: Thanks MW! And what markers would you be looking for to know when you have escaped the middle-class 'prison'?
Oh, I am actually working on a blog post on this right now. Interesting that you asked haha.
It will be about monitoring and reviewing your total asset position monthly (as well as all aspects of your finances like cash flow, savings, investments, CPF balances, mortgage loan balance and investments like equities, bonds etc) and to see if your passive income is increasing at a good rate.
So watch out for it in the next few days!
Hi MW,
Your coming article is going to be very interesting and timely for us. My wife is going to stop working soon. We really have to monitor all the incomes from our IGA(Income Generating Assets) - Whether we can afford not to work another day if we don't want to? Whether the incomes generated can offset our total monthly expenditure and then some? Or whether we have to tightened our belt and then is O. K.? Or we have no choice but to look for part time job, or even full time job?
My mental calculation of the incomes from our IGA is slightly more than enough for our present lifestyles, without touching any of our assets or savings.
That's the "secret" of not running out of money until your last day and leaving a legacy behind for your offsprings as recommended by classic financial planning books/articles. On the other hand, we may upgrade our lifestyle if we leave behind a lesser legacy for our only son.
Well, planning is one thing, actual outcome maybe better or worse. Of course we hope for the better that's why we plan.
And i hope i can use some of your ideas from your coming post.
Cheers!
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.
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.