When I first entered banking industry at the age of 23, most of my colleague saying the same…Young age is good. It’s the best capital and it’s virtually as good as “cash money”!! Today I’m almost 10 years older. Look like uncle?!! Damn…yesterday even when I’m joining blood donation program, the young doctor keep calling me “uncle” up and down? Am I that old? Thinking back then what more I can do to speed up my earning capacity knowing my age keep advancing without notice. What about you? Have you create a plan that workable and can feed you 3 meals a day plus all your living expenses when you fully retired?
Man earning capacity hit highest point at the age of 35-45 years old but coincidently our responsibility also reach highest during this period. This is where all your big expenses coming in especially child education, car expenses, house renovation, children day expenses, holiday, expenses hobby and etc. Sometimes when I think back, we are very funny creature. Even known or aware they are unaffordable, yet they will still leverage against the bank to keep enjoying their life which lowering all of their earning capacity further. In fact what more you can do to improve your earning further beside you workable income? Or passive income? Taxable income? Rental income? From all types of income above, I personally believe rental income is more reliable over long term as its only need “one time” investment and the rental will continuously flow in as long as you hold the property until they day you sold it. But of course you need to enter at reasonable pricing to enjoy “breakeven repayment”. If you continue to accumulate such properties over the next 5 years, I believe your portfolio will be your next income generating sources when you retire. That’s simple right?
Meeting, talking, sharing and expecting people to follow what I have done is very tough task and responsibility that I carry day by day. Of course I love seeing their success but how many will totally agree with me? A lot of them have their own idea, opinion and view on our property market. Anyway it doesn’t really matters as long as they invest, rented it out and continue acquiring. Investing property is “SureWin” games. Be a value investor all time to ensure your objective achieved. Pass few years has proof to me that investing in property really will help us to retire young and rich. With “autopilot” plan and recession proof portfolio, I’m pretty sure you are on the way to have your financial freedom.
Happy Investing
You cannot Grow Land..CK Wong & MY RiCH DAD
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{ 11 comments… read them below or add one }
Good article!
agreed.
Totally agreed with you. I started late but better than waiting or have not start yet. I started with a small flat which costed only Rgt 35000. Nobody want to buy that type of flat then. Chinese saying- jump onto a buffalo to ride a horse. I am still having the flat. cheap and good!
Thanks for your GREAT blog and sincere knowledge sharing.
Thinking back, i’m quite lucky (& relief) on my decision to accumulate properties since 2006. I’ve accumulated quite a few propeties now (include 3 shoplots)……I feel really lucky to start investing by then because the property prices rises sharply last few year…
Thanks again & keep it up!
I’ve had a great time stumbling upon your site! The information you provide is very useful and I’m sure others will appreciate it, too!
Thanks for sharing
I hope this day will come to me soon – financial freedom!
ck wong, obviously right your concept of financial freedom by continue acquire property, but it will not give you to win all the time and year 2012 is the optimal level for property market as we all aware of economy meltdown in western country, plus the clever developer are selling their products at future price. And today property prices are beyond the ordinary people can afford e.g for a Semi D price at RM 800K and above. My suggestion to turn this investment to stock market with potential counter. good luck !
HI,
Thank you for your advice. I fully understood my portfolio. If you got time please read all my articles..I believe my portfolio will be reccession proof portfolio while enjoying steady rental and capital appreciation. Happy Investing.
You cannot Grow Land..CK Wong & MY RiCH DAD
what if at the time of the reccession most of your tenant can’t afford the rental coz bisness is bad what then ?
imagine if most of them can’t pay the rent let say for 3 month what is the solution?
Hi Good Comment,
If i can remember correctly, CK has lands, apartments and shoplots in his portfolio. For land investment, margin of financing is low and someone should be prepared to keep the land without much rental.
As for apertments and shoplots investment, i can only advise the landlord to scan and get the best tenant possible. Like every business or investment, there are certain calculated risks to be taken (even working as employee is not risk-free, example company bankrupt). Furthermore, landlord have 3 months deposit on hand. Besides property, do we have more solid invesment option?
Hi,
Any recommendation from you? What portfolio you have? How you overcome bad market? Happy Investing.
You cannot Grow Land..CK Wong & MY RiCH DAD