"Affluenza"

last SG · 2007-03-01T10:25:43+00:00

Sadly, many people "suffer" from affluenza. I was prompted to start this topic after watching it on the news. Even with no money and lots of debt, people sti...

choco B SG

Yes, it's - "work my ass off"

elindra SG

It is
If you are lucky or make the right choice in investment
You earn more money that can clear your debts faster
BUT
If you make the wrong choice, you fall further into debt

It's like the news article some weeks back about people booking condo units to sell off but get into trouble when they can't find a buyer and they can't afford the downpayment.

hisoka SG

well i guess if they ahd made a pile the story would be of a different slant. i guess its just tipical investment where the bigger hte risk the bigger the gains. afterall making 100k is relatively a bigger gain for one who cannot afford the down payment compared to one who can

elindra SG

Oh they told 2 sides of the story

At the end of the day, it comes down to," Are you willing to take the risk?"

hisoka SG

not me, i'm a coward Crying or Very sad

viciouskitty74 SG

Oooohhh...i am soo brand consious.

i will only buy

Pantene
Body shop
L oreal
Maybelline
Revlon
Neutrogena
Johnson & johnsons

jetta SG

Fatum, ever since the housing boom, many people have become flippers, buying a place for as little as possible, sprucing it up and selling it for big bucks. There are many TV shows dedicated to this flipping trend, as I’m sure you’ve seen. Seeing these people jumping in, getting their feet wet and then some is so exciting. Man, if I had the cash, I’d jump in too. But this pauper cannot dream that dream.

Fatum SG

you know ... I seriously looked at doing it ... but then I did my sums and realized that with properties, you can only play flipper once ... cos after the first deal, you'll be looking at assuming ever bigger risks with each successive properties, and pumping more and more of your own money into it .... and that is assuming that property prices keep going up, eh .... I'll stick to flipping cars .... Very Happy

another thing I'm seriously looking into are franchises ... they offer great tax benefits for my professional job ... you earn less but you assume less risks ... logistics and training and marketing is all handled for you .... plus you can have multiple partners .... I looked at tim hortons and subway .... but ....

anyone interested in bringing prima or old chang kee to NA ? ... Razz

viciouskitty74 SG

Had a discussion with my papa. Not recommended.

His logic. he sell a non perishable engine. he earns $100/- per piece.

To sell a fishball, you earn $0.10/- per piece.

Fatum SG

yeah, of course, but we're talking about different products here .... that's the kind of margins you're looking at in the food biz .... sides, it's not becoming a millionaire on this business ... I'm looking more at the cash flow that the biz can generate .... and being a small business owner can actually have some tax benefits ....

even if the franchise brings in just an extra few hundred bucks for me a month, that would be working very well for me, I can dream up bigger things with the constant cash flow .... Very Happy

viciouskitty74 SG

It might be easier to start your own then to franchise. The problems with trainings will cost you.

hisoka SG

don't forget you will need to spedn effort and time to look after and set up the store.

i don't think you can just leave it to the manager and trust/hope that he/she does a good job with no cheating or whatever

Fatum SG

well ... with a franchise you have a branding immediately, you have a marketing plan in place, you have all the logistics and training taken care of, you know exactly where you stand right from the start ..... I think it actually make things simpler .....

yes of course, but with a franchise and a few partners, I can still keep my professional job mah ...

so ... any interested parties ? ... say around 5 to 6 people, each one fork out a couple or three lakhs of mana .... Razz

jetta SG

Well, Fatum, beat you to it. Some 10 years ago, the hubster and I were thinking about starting a Subway franchise in Sg. To start, you have to attend Subway school in Connecticut. This week-long school was S$10K. The other things like fixtures, etc, all had to come from the HQ as well. I can't remember what the final figures we tallied were but it was pretty hefty.

Then a couple of years ago, we thought it would be neat to take ColdStone to SG. Then we found out that to take it overseas, the company wanted a $5 million dollar capital. Foiled again.

We're still thinking about a franchise though. We're waiting to hear back from two makan joints we loved when we were living in Hawaii. I guess we're foodies through and through. Laughing

elindra SG

I rather be a franchiser than franchisee
I mean look at the Ke Ai Ji in Singapore
The couple has virtually no education and they are raking in big bucks franchising out their Ke Ai Ji outlets

Of coz longer way but you have more control over your biz
You can decide on the price you buy your ingredients etc
If you are the franchisee u really LPPL can only buy from the franchiser

Fatum SG

how about old chang kee ? ... between me, you, LS and MG we can about cover NA ... I think NA has more potential than Sg when it comes to food ... Singapore is foodie paradise ... there are too many choices, too much competition ... that's why subway still isn't doing that good in Sg .... probably socal and tolongto is like that too ... but for those in the bonnies like me, eating out means either fast food or resturants ... not much in between .... I got some figures checked out already ... PM those around ? ...

Razz

jetta SG

I would love to bring in old chang kee. Have I ever told you that I used write their ads for them many many moons ago? My boss was good friends with the old chang kee boss who would visit the office often. Who knows if he still remembers me? Got kang tau. Laughing

Fatum SG

well pinky ... I would too ... but I like I said, it's about generating cash flow right now ... with the cash flow you can look at bigger things ....

but I guess the point is that the only way we can afford to retire comfortably ... is to make our money work for us .... saving money simply doesn't work anymore .... Confused

Fatum SG

well if you're serious jetta ... I am ... I think LS would be too ... Mr. Green

av98m SG

Leaving $$$ in the bank quite literally means you are losing money after counting inflation and their pathetic interest rates Crying or Very sad

I still dream of running a second hand bookstore selling renting books, and my own prints. But doesn't sound like a good money making business leh Mr. Green

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