Source: After Buying Her Own Condo, This 29-Year-Old's Next Goal Is To Be A Millionaire
> formerly a relationship manager at a bank
> now a financial adviser of an Independent Financial Advisory firm
> bought the Chanel Boy handbag, the Audi A3 Cabriolet (now wrapped in satin pink), and of course, the private property – a 2-bedroom unit at Bartley Ridge condominium
> bought the 2-bedder unit at $1.1 million, paying a whopping $500,000 in cash and $100,000 from her CPF Ordinary Account for downpayment.
> "... I am more conservative and don’t dabble much in investments or stocks to grow my wealth, so I thought property is something I can explore”
> paying a whopping $500,000 in cash for downpayment
> don’t dabble much in investments or stocks
> now a financial adviser
How she made her $500K cash savings along with enough for her car plus living expenses along the way without "dabbling much in investments or stocks" until her first condo at 29, I suppose will be the biggest mystery of all.
Financial advisors do NOT need to make money following their own advice that they give to clients. They make money from clients paying them to hear advice from them.
Why buy stocks and shit when you can get people to pay you to tell them to buy stocks and shit?
I love how absolutely broken the incentives are in our financial industry.
You can wait for regulations to fix this, or you can search for better alternatives. Perhaps something along the lines of Decentralized Finance? Oh, too radical? Okay, 4% in the SA for you then.
Personally, I can confidently say that I made my money from buying in early into disgusting rat poison squared digital ponzis so that I can be on the top of the pyramid MLM, but yet the math still actually adds up and best of all, is verifiable on a public blockchain for anyone to check, if they bother enough.
Imagine double digits - or worst, single digits - annual returns.
I'd kill myself.
Triple digit annual returns or GTFO.
As a side-note, I really dislike how it is so ingrained into the average Singaporean feels that the only "good" investment is buying a private property and renting it.
But hey, we all get to choose our own way of how we want to Have Fun!
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