Maybe that's what's wrong with our society today. Use other
peoples money. I know there are many examples out
there. When I started working, that was my strategy
too. Use leverage, I used to say. Eventually, I decided
it's best to live within my means. Even if it means living in
a 3 room HDB instead of exec condo, drive a second hand Korean car
instead of late model European ones, hand around in Singapore
instead of holidays in Europe/US/Japan. Once the house is
paid off, it's yours and you don't have to worry about losing your
job. Excess CPF can be invested. Perhaps I got it all
wrong but it sure feels good to be debt free with cash in the
bank.
Using other peoples money is all right for investment, it
is different from using your future money for your present
pleasure. You need loan to buy a 3 room HDB, or a bigger house
as long as you can afford the installment.
There is never THE right way of using money, debt free and see
all the opportunities lost, save and save only to see that you
can't catch up with the rising property prices, and by the time you
save enough money your children had missed the chance to go to
universities abroad, .....
What is your risk profile? do you have a financial plan?
If you have a high risk profile and smart in investment, you
still need luck to make it big. If you are cautious but smart you
still progress, abeit slowly, if you are only looking forward to
being debt free, you need to be 50 years old and are contented with
whatever you already have, which may not be much if you had not
invested, using other's money wisely, or you need to win 4D or
toto.
this time, the lady angel is right, " smart people dun use
their money ya." We think with our brain, we take risk because we
got balls, hahaha....