I will be a millionaire by 30 years old
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Do you have faith in me?
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as if u sharing with me?
why shd i put my faith in u? -
Originally posted by FireIce:
as if u sharing with me?
why shd i put my faith in u?
Well, yeah... I suppose that's a no. -
go and change whatever money you have to zimbabwe dollars.
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if i get a portion then maybe i have some faith leh. So will i be getting it?
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how old are you? 29?
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Originally posted by RETARDED_MORON:
Do you have faith in me?
before we have faith in you, what's your plan in doing so?
How are you going to achieve it?
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Originally posted by eagle:
before we have faith in you, what's your plan in doing so?
How are you going to achieve it?
Current age: 20 years oldCurrent net worth: $##,###.##
Broad tactics (as opposed to strategies; don't want to bore you with the obvious)
2008-2012 (university)
- Be an ultra-stingy bastard (no clubbing/cinema/dining out crap at all); keep expenses below $450 per month (including rent)
- Work whenever I'm free (freelance web developer now, looking to learn more programming languages)
- Pay for monthly expenses using part of salary as abovementioned
- Save up all my scholarship and parents' allowances
=> Net gain per year through saving and non-investment streams of income: S$18,000
- Invest in stocks (long-term horizon, value investing, fundamental analysis, all that tired crap)
- Forget about unit trust bullshit with xx% transaction, management, admin, trustee fees
- Buy real estate property in Malaysia with savings and profit from stocks (buy in transitional neighbourhoods; flip the property -- buy, renovate, then sell; repeat process)
- Start small business now (already did; simple business model, but incorporating soon); transfer management to employees upon graduation; or sell business for profit
Target net worth by graduation: S$100,000
Age at graduation: 24 years old
Expected starting salary (after professional training): S$5,000
2012-2018 (working)
- Still live like a stingy whore; never own a car
- Live in my girlfriend's parents' house to avoid paying rent
- Keep up investments in stocks, real estate and small business
...
Millionaire!
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Target net worth by graduation: S$100,000
Age at graduation: 24 years old
Ok this part higher than me by double liao... Cuz I didn't focus so much on it last time... Lucky also cuz 06 and 07 weren't good years to invest in on hindsight.
More of... I concentrated a great part of my efforts on making sure I get a first class
Expected starting salary (after professional training): S$5,000
Ok, I average a bit more than that now :(
Me going to attempt to start a small business (other than tuition) as well... Let's see how it goes... :D
Good luck to you
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yay. let's throw in a few kinks, because you know, life is always full of unexpected twist and turns
1) girlfriend fed up with you living in her parent's house and break up with you
2) you didn't manage to get into the 4th year because of poor grades
3) your investment in stocks was wiped out because of freak economic stuff.
suggestion: keep some contingency plan for things screw up. because it will.
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get a life.
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or if you cant get one for free
buy a life -
why wait till 30? why not 25 instead?
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i belive you can do it! Jia you!
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Originally posted by brainerror:
why wait till 30? why not 25 instead?
1 have to set a realistic goals.
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Originally posted by youyayu:
1 have to set a realistic goals.
hopefully it will happen.
no pain, no gain!
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i like people like ts. set a target for himself.
everyone must be condemming him that it will nv happen.
even if he nv reach million by the age of 30, at least he tried.
if he did reach million by 30. he will be coming here to this forum. signing up pee membership and say this proudly "I DID IT"
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I support you,
Maybe you can try buying 4d or toto,
maybe is more than you expected when it strike. -
If he did set those targets, he won't sign up pee membership le
The way he set his goal, I get the feeling he will be missing out most of his life though.
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Originally posted by eagle:
Ok this part higher than me by double liao... Cuz I didn't focus so much on it last time... Lucky also cuz 06 and 07 weren't good years to invest in on hindsight.
More of... I concentrated a great part of my efforts on making sure I get a first class
Ok, I average a bit more than that now :(
Me going to attempt to start a small business (other than tuition) as well... Let's see how it goes... :D
Good luck to you
I actually admire you for having a first-class Honours degree. Try as I may, I cannot see the point of getting a first-class Honours degree (it's both unreachable and not worth the effort, IMO) so I threw that goal out of the window.
About your small business, I'm sure developing your tuition business would be easier and more profitable. You have your students already and the power of their word-of-mouth; just come up with something innovative like Adam Khoo's Learning Technologies Group or some sort of creative workshop for school students. Cash in on the excessive paranoia of parents of lackadaisical school students!
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Originally posted by RETARDED_MORON:
Current age: 20 years oldCurrent net worth: $##,###.##
Broad tactics (as opposed to strategies; don't want to bore you with the obvious)
2008-2012 (university)
- Be an ultra-stingy bastard (no clubbing/cinema/dining out crap at all); keep expenses below $450 per month (including rent)
- Work whenever I'm free (freelance web developer now, looking to learn more programming languages)
- Pay for monthly expenses using part of salary as abovementioned
- Save up all my scholarship and parents' allowances
=> Net gain per year through saving and non-investment streams of income: S$18,000
- Invest in stocks (long-term horizon, value investing, fundamental analysis, all that tired crap)
- Forget about unit trust bullshit with xx% transaction, management, admin, trustee fees
- Buy real estate property in Malaysia with savings and profit from stocks (buy in transitional neighbourhoods; flip the property -- buy, renovate, then sell; repeat process)
- Start small business now (already did; simple business model, but incorporating soon); transfer management to employees upon graduation; or sell business for profit
Target net worth by graduation: S$100,000
Age at graduation: 24 years old
Expected starting salary (after professional training): S$5,000
2012-2018 (working)
- Still live like a stingy whore; never own a car
- Live in my girlfriend's parents' house to avoid paying rent
- Keep up investments in stocks, real estate and small business
...
Millionaire!
Wow... i mean i dunno to admire ur dedication, or feel sorry for your wasted years in uni man...
Man u are one stingy sob... but if thats the way to make u a millionaire. By all means.. go ahead. lol!
Dun forget to study too.
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same thinking as my fren sia, he said frens are not to be made now, friends are to be made in retirement.
well, I guess to each his own.
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Originally posted by darkensun:
The way he set his goal, I get the feeling he will be missing out most of his life though.
That's the trade-off. It's a really sad thing but I'm starting to feel it too. I've stopped dining out since last year and gone clubbing only once with my friends since university began. It tends to strain my friendships because it's really hard to be friends with someone who doesn't even want to fork out $5 for a latte at Starbucks or pay $10 to watch the latest flick. Vacations are unheard of. I'm the only person I know of who works on both Saturdays AND Sundays (amidst my busy school schedule). The funny thing is that I'm starting to get used to it; it's becoming a habit, albeit an unhealthy one by most people's standards.On the other hand, I've never been richer in my life too, and not just in the financial sense. I'm starting to feel that I'm internalising good money habits day by day and learning to appreciate the value of money earned at the end of a hard day's labour. I start to feel that all the money I save and invest now, all the relevant work experience that I accumulate whilst schooling, all the books I read on various subject matter ranging from business, finance and accounting to computer science, foreign language and self-improvement and generally all my efforts in transitioning from a student to an adult are going to help me a great deal in the future, e.g. in starting my own business, taking care of my family, preparing for retirement, etc.
I'm not sure if this is optimal but, what the hell, I'm already one year through this lifestyle; I can take ten more years of that.
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Best of luck, mate :)
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remember to write a book after your success