Monday, 30 March 2015

What's the best use of your salary in Wealth Building?

A salaried man earns a fixed income, every month and in doing do, would be able to correctly budget his lifestyle and investment. I posed a question to Colin, whats the best way to use a fixed income? and whats the fastest way to accumulate deposit for property investment.

In this blog, we are always talking about rentable, tenanted property for passive income generation. Capital gains is a by the way product, it will come, but its not meant to be the reason for purchasing any property.

So the discussion went on... 

A few options came out, Fixed Deposit, Savings, Shares, Speculation, TOTO etc... Which is not safe. 

A person starting with ZERO cash, with an nett income of $5000, do I save for 2 years to reach $120k? Thats just for a downpayment for a $500k property. What if the property price rise about 5% per annum - Thats 10%. How do you catch such a rise in the shortest time?

How many of you would be thinking? Hey, I should use that $5000 or part of it as interest payment and find a loaner that will give me that loan. Hmm... if $5000 goes into monthly instalment, how much can you raise? Pls work out and tell me if this is safe enough for you. 

May you fulfil your dreams soon... and not wait 2 years to save 120k. Do it in 3 months. 

Cheers! Thank you.

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