before we have faith in you, what's your plan in doing so?
How are you going to achieve it?
Current age: 20 years old
Current net worth: $##,###.##
Broad tactics (as
opposed to strategies; don't want to bore you with the
obvious)
2008-2012
(university)
- Be an ultra-stingy bastard (no clubbing/cinema/dining out crap
at all); keep expenses below $450 per month (including rent)
- Work whenever I'm free (freelance web developer now, looking
to learn more programming languages)
- Pay for monthly expenses using part of salary as
abovementioned
- Save up all my scholarship and parents' allowances
=> Net gain per year through saving and non-investment
streams of income: S$18,000
- Invest in stocks (long-term horizon, value investing,
fundamental analysis, all that tired crap)
- Forget about unit trust bullshit with xx% transaction,
management, admin, trustee fees
- Buy real estate property in Malaysia with savings and profit
from stocks (buy in transitional neighbourhoods; flip
the property -- buy, renovate, then sell; repeat
process)
- Start small business now (already did; simple business model,
but incorporating soon); transfer management to employees upon
graduation; or sell business for profit
Target net worth by graduation: S$100,000
Age at graduation: 24 years old
Expected starting salary (after professional training):
S$5,000
2012-2018
(working)
- Still live like a stingy whore; never own a car
- Live in my girlfriend's parents' house to avoid paying
rent
- Keep up investments in stocks, real estate and small
business
...
Millionaire!
