Tattoo Artist bought his new Car
Today (Wednesday 27/10/2010) our neighbour Tattoo Artist, Mr Marden, bought himself a new Hyundai :) So happy for him!! he traded in his 5-6 yrs old Hyundai SUV for a Hyundai Avante (Just took a glance, but i think its an Avante). The older car was giving him so much problems, the maintenance cost is getting higher & higher. He finally gave up & bought a smaller but brand new car! 10 Years Installment, less than $800/month, Est. $26/day.
Estimated Salary for Local Tattoo Artist = $25,000 to $40,000/month
Later in the afternoon, I went down to J's warehse. Her dad owns a Multi-Million Dollar Family Business but had never ever owns a family car. Why?!? B'cos to them...
Car = LIABILITY!!!!
They would hire logistic company to do deliveries.. take taxi or public transport.. this is probably 1 of the major reason why their little family business can grow into a multi-million dollar business in less den 2 decades!! even CEOs' from certain listed companies also know J's Daddy!! call him & talk to him over the phone!!
1 yr back.. someone from the real estate sector told me a very important sentence!!
"WHO you know will never change your life.. WHO knows you WILL!!!"
OMG.. Before i got drifted away.. back to Asset & Liability!!
Uncle "Benson", a retired man, everyday no matter rain or shine will definitely ride his ah pek bicycle from his 3.5 storey detached house... crossing the traffic junction to our shop & buy a packet of his favorite Benson Cigarette. (very Long Description of Uncle Benson LOL..)
Uncle Benson also don't owns any car..
He always tell us his neighbours, buy new cars.. after a few months all kena towed back.. no $ pay installment.. So even worse.. House also kena cheong gong by the banks.. Then got $ problems, these ppl will start torturing their maids.. ask them work for crazy long hrs...
OMG!! So these ppl may be high flyers, earning 5 digit monthly salaries, but they spend all their $ on Exp. Cars.. Buy Houses when property bubble is about to blow!! They spend entirely on LIABILITY!!
Uncle "Benson" & his POOR Neighbours
Uncle "Benson", a retired man, everyday no matter rain or shine will definitely ride his ah pek bicycle from his 3.5 storey detached house... crossing the traffic junction to our shop & buy a packet of his favorite Benson Cigarette. (very Long Description of Uncle Benson LOL..)
Uncle Benson also don't owns any car..
He always tell us his neighbours, buy new cars.. after a few months all kena towed back.. no $ pay installment.. So even worse.. House also kena cheong gong by the banks.. Then got $ problems, these ppl will start torturing their maids.. ask them work for crazy long hrs...
OMG!! So these ppl may be high flyers, earning 5 digit monthly salaries, but they spend all their $ on Exp. Cars.. Buy Houses when property bubble is about to blow!! They spend entirely on LIABILITY!!
Pri Sch Educated Uncles Getting Richer & RICHER!!
It was probably not reported in the news.. little even know why the lowly educated uncles & aunties were able to sit @ coffeeshops everyday playing chess.. Lakopi.. Happy happy go Malaysia.. Happy Happy go Korea or Japan for a Tour.. Don't bother to work another day in life!!
Few of my Friends' daddys worked in some listed shipping companies str8 after NS. Some started as underwater repairman, very high risk but good salary for the lowly educated. As time goes by, they got promoted.. took up less risky job scopes such as foreman or supervisors.. some even got promoted to the top 10% management team.
These Uncles have got very simple life style.. work hard.. provide the basic standard of living for their families & Save up whenever possible..
On the other hand, the Bosses of these listed companies actually planned for their employees' futures. They give them 4-8 months of annual bonus. & some even gave them company's share as a reward for staying in the company.. some allow employees to buy the company's share @ discounted price.
Few of my Friends' daddys worked in some listed shipping companies str8 after NS. Some started as underwater repairman, very high risk but good salary for the lowly educated. As time goes by, they got promoted.. took up less risky job scopes such as foreman or supervisors.. some even got promoted to the top 10% management team.
These Uncles have got very simple life style.. work hard.. provide the basic standard of living for their families & Save up whenever possible..
On the other hand, the Bosses of these listed companies actually planned for their employees' futures. They give them 4-8 months of annual bonus. & some even gave them company's share as a reward for staying in the company.. some allow employees to buy the company's share @ discounted price.
Compound Interest comes into ACTION!!
@ 19 Yrs old (Monthly Salary=$1,500).. These lowly educated uncles maybe struggling to save $100 from their monthly salary. But by year end, their company suddenly gave them a lump sum of $$Bonus$$.. of cos, many spend it away buying new cars or other Liabilities.. but many also save up & buy their company's shares!!
@ 29 Yrs old (Monthly Salary=$2,500).. Those uncles who reinvested their yearly 4 month bonus into their company shares, would be receiving a Dividend (6%) of $6978.45 from their company's shares. By now they should have invested $123,285.92
@ 39 Yrs old
Monthly Salary = $3,500
Total Investment Amount = $366,574.54
Dividends (6%) = $21,994.47
@ 49 Yrs old
Monthly Salary = $4,500
Total Investment Amount = $867,487.91
Dividends (6%) = $52,049.27
These lowly educated uncles have became Millionaires @ Age 51.
I've made these calculation using the lowest Dividends Payout, Salary Increment of $100/Year & not including the person's monthly salary.
I've saw many real life examples.. the next generation for these uncles don't even need to work & they can enjoy life to the fullest :) They just need to let COMPOUND INTEREST do the JOB for them!!
Here's the Math!
@ 29 Yrs old (Monthly Salary=$2,500).. Those uncles who reinvested their yearly 4 month bonus into their company shares, would be receiving a Dividend (6%) of $6978.45 from their company's shares. By now they should have invested $123,285.92
@ 39 Yrs old
Monthly Salary = $3,500
Total Investment Amount = $366,574.54
Dividends (6%) = $21,994.47
@ 49 Yrs old
Monthly Salary = $4,500
Total Investment Amount = $867,487.91
Dividends (6%) = $52,049.27
These lowly educated uncles have became Millionaires @ Age 51.
I've made these calculation using the lowest Dividends Payout, Salary Increment of $100/Year & not including the person's monthly salary.
I've saw many real life examples.. the next generation for these uncles don't even need to work & they can enjoy life to the fullest :) They just need to let COMPOUND INTEREST do the JOB for them!!
Here's the Math!
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