kids of rich parents - lucky or unlucky?
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Pen88n:
:goodpost:I still want a rich dad.......no need to buy me luxury cars or thousand dollars handphone.......just have the following:
1. give me more pocket money so that I can save and keep for rainy days
2. set up an endowment fund for me, so that I can withdraw at end of X years with more money to spend
3. buy me a property that is rented out so I can collect rental income
4. set up a stock portfolio for me so that I can get dividends.
See, with all these, it is still lucky to have a rich dad.........as long as he guides the kid to be financially savvy instead of spoiling them rotten. -
I also want to born rich. At least get to live rich.
But I hope my parents will still teach me about prudence.
BTW...I have a friend, family very rich. Live in a bungalow in Stevens Road area. But they still live frugally. When we were in Uni, we always joke that this guy lives poorer than us. And no one can tell that he lives in a bungalow in Stevens Road. No flashy car and no flashy clothes.
But they have a choice. To either spend or not spend.
Better than how what I went through. Got no choice....basically cannot spend. Actually hor... now also like that..... no choice...cannot spend... must watch the numbers very carefully. If above budget, must activate corrective action and then think of preventive actions.
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KSP:
I think this report is a bit shallow. They didn't share how much the dad has in his bank. Maybe is enough for the 2 kids to live comfortably for their whole life. Their mthly 2.5k is just only for the petrol lah. This is not something new. I saw ppl driving flashy cars in poly, uni and workplace too. There are a few in my current office too. Young, fresh grads drive BMW. Sometimes i ask myself why i was not born in rich family.
Agreed. I don't really trust that Adam Khoo...... -
what is the writer trying to say in the article ? if that is really written by him, then there is lots of half truths in it and it betrays his lack of knowledge, being shallow.
1. the rich man could have salted millions$$ away in trust funds already, what is tens of thousand$$ in expenditure ? petty cash to him
2. car installments ?? :rotflmao: :rotflmao: , c'mon, he paid cash.
3. $1200 psf is expensive ? Dr Susan Lim just sold her Sentosa house for S$39mliion !! the $14m this rich man paid for the house could have reaped him another millions$$ of capital gain....shrewd investment .....wish I got in there when first launched at $700psf ...... years ago..
4. usually people in that kind of income bracket spend only \"spare cash\" in their daily \"necessities\" like Lambo and yatch ...... -
Rich ppl not only kiasu but also more kiasi too. They will make sure they are well protected, well invested and have have steady flow of income to sustain their lifestyle before they start to splurge.
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IMHO, kids born into rich families are lucky if they have parents who are wise and prudent enough to teach them the values of thrift, hard work and a charitable heart.
I know of people who are from well-to-do families but they are thrifty and humble. So it really depends on the upbringing. -
Angelight:
:hi5: Agree totally. Rich or poor, the upbringing is what makes everything sustainable otherwise everything becomes temporal and short-term.IMHO, kids born into rich families are lucky if they have parents who are wise and prudent enough to teach them the values of thrift, hard work and a charitable heart.
I know of people who are from well-to-do families but they are thrifty and humble. So it really depends on the upbringing. -
Insurance for good results?
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Oppsgal:
Insurance for good results?
Hohoho!! -
Angelight:
:goodpost:IMHO, kids born into rich families are lucky if they have parents who are wise and prudent enough to teach them the values of thrift, hard work and a charitable heart.
I know of people who are from well-to-do families but they are thrifty and humble. So it really depends on the upbringing.
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