tag:blogger.com,1999:blog-5250592099846123314.post1614614440449383468..comments2024-02-14T16:08:35.337+08:00Comments on Wealth Buch -- Journey towards Financial Freedom: Growing Networth -- My Journey so farJWhttp://www.blogger.com/profile/04633191740991225888noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-5250592099846123314.post-76263841456057522862010-10-29T22:50:01.204+08:002010-10-29T22:50:01.204+08:00Hi AK,
thanks for your encouragement! Long way to...Hi AK,<br /><br />thanks for your encouragement! Long way to go for me :)JWhttps://www.blogger.com/profile/04633191740991225888noreply@blogger.comtag:blogger.com,1999:blog-5250592099846123314.post-77914360373457747972010-10-28T23:05:40.210+08:002010-10-28T23:05:40.210+08:00Hi JW,
Active income sources are the first buildi...Hi JW,<br /><br />Active income sources are the first building blocks on our journey to financial independence. You are doing all the right stuff. :)AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-5250592099846123314.post-25839797498343126262010-10-28T01:56:46.031+08:002010-10-28T01:56:46.031+08:00Hi Chris,
my main aim was that Boxer worked slowe...Hi Chris,<br /><br />my main aim was that Boxer worked slower and slower till he cannot work any more. An older Boxer could not provide the same amount of drive and hard work as a younger Boxer. Hence, there's a maximum limit one can go in terms of pure hard work. In that sense, we need to use our brains more as we age further in order to maintain our productivity.<br /><br />I don't think I can be out of the rat race before 30 as I still have the following to consider:<br />1) Housing. It will be a big commitment.<br />2) Kids. More commitments.<br />3) Parents. While they are still young and can take care of themselves, time spares no one, and eventually, the responsibility and onus is on me to take care of them too.<br /><br />With all these, my current networth is grossly insufficient. <br /><br /><br />To me, wealth accumulation is not about speed, but about the methods and the mindset. To me, true financial freedom does not come solely from the dividend income > expenses, but from the ability to generate income whenever we need it.<br /><br />http://wealthbuch.blogspot.com/2010/09/true-financial-freedom-for-retirement.html<br /><br />As for myself, I'm in no way very frugal. I believe one should not be a millionaire scrooge. <br /><br />http://wealthbuch.blogspot.com/2010/03/millionaire-scrooge.html<br /><br />It's just in my nature to like things that cost less :)JWhttps://www.blogger.com/profile/04633191740991225888noreply@blogger.comtag:blogger.com,1999:blog-5250592099846123314.post-19650172271491192752010-10-26T20:34:58.165+08:002010-10-26T20:34:58.165+08:00Chris here. ( I was the dude who wrote to JW )
I ...Chris here. ( I was the dude who wrote to JW )<br /><br />I don't think the Boxer analogy is apt. Boxer did not retire a young stud. <br /><br />BTW, I'm way older than you at 35 and currently live on my dividend flow of about $27,000 last year. Had I known you, I would not have only skimped and saved as before, I would have tried harder to monetize my time by giving tuition, maybe even joined a part-time start-up.<br /><br />At the rate you are going, you'll probably be out of the rat race before you're 30. The rest of your life can be spent working and travelling to different parts of the world on your own terms or you can do something for a cause.<br /><br />Sure, some people might accuse you of being workaholic but compound interest will prove that the folks who work on money the most in their 20s will be the ones who will care the least of their money at old age.<br /><br />The freedom you will have at age 35 will be something your peers can only dream of.<br /><br />Take it from someone who is way slower than you in wealth accumulation, your peers will not like you once you reach a stage whereby you can retire anytime. <br /><br />Hope you can find a partner who shares your work ethic and frugality.Christopher Ng Wai Chunghttps://www.blogger.com/profile/15534057160494859977noreply@blogger.com