Saturday, March 13, 2010

When you are 30’s

Life is totally different when you reach above 30. This is what I feel when I reach 30 last year. It’s like the whole responsibility is getting heavier and tougher. Life isn’t as easy as what a lot of people thought of. Our expenses are getting more; prices are getting higher and the worst our salaries are adjusted not to the level of our expenses growth. Are you experiencing the same? What are the major financial decisions that people will face at this stage which will create tremendous impact into your entire financial life? Let us explore and learn from the past as the past is of no value unless you learn from it.

Most of the young adult ended their bachelor life when they reach 30’s. Marriage expenses are considered 2nd biggest financial commitment that new couples have to “save” and spend after purchasing their first dream home. Nowadays wedding dinner per table are reaching easily RM800-RM1000 per table at 5 star hotels with condition not less than 30 tables per session. That means in order to fulfill your dream wedding, both of you need to save at least RM50K-RM80K – ALL IN which very likely this will wipe off your entire saving after so many years of hard work and savings. Is that worth it?
wedding 200x300 When you are 30s

Live in the dream!!

This reminds me that one of my friends who spend RM100K for his wedding dinner at 5 star hotels which he manages to settle his bills immediately after dinner with his credit cards. Yes, with one swipe all his “temporarily debts” is settled. I was so impress with his earning and spending capability at that time as I always admire people who can swipe their single bills amounted to RM100K with single card!! He seen very proud too and I’m also glad as he marrying his lovely wife with the cost of RM100K. The story not ended there as few weeks later he come and see me with the purpose of getting additional financing from his house equity. I was happy thinking he might get additional properties with the money. But too bad, I was wrong and I almost fainted when he told me his credit cards debts have reach RM100K and he can’t afford to repay as the interest is too high!! At last he settled his debts with additional facility from his house equity but the commitment is to be carried for the next 15 years and bear in mind this is excluding honey expenses. I think he is happily married man plus his monthly commitment of RM800. I don’t know whether his wife know about this or not. If I’m his wife I rather kill myself!! My question here is…Don’t you know this is too costly approach to get your “wife”? But why some people still did it? I think a lot of people trying to impress their surrounding people with the thing that they don’t have. By the way, my friend is UK educated professionals!!

At this stage most of the people are planning for their small family and if can it will be perfect to have one pair of kids. This will give the couple the best reasons to stop production and manufacturing line combine with other reasons like increasing costing of child cares, education expenses and the pressure of double income economy, it has force most couple to accept small family concept.
cutebaby031 375x375 300x300 When you are 30s

Life worth more when you have it!!

If you notice around, who is taking care of the kids nowadays? It’s not their own parent but it’s their grandparent or maid. One of my friends, Mr L has acquired one residential property near to schools to be occupied by his parent who is retired. The main purpose is to look after his kids who are studying nearby (walking distance). He is saving a lot of time and money by doing so. That why I foresee continuously rising prices for residential properties in Likas area especially Indah Court, Radiant Court Area and neighboring properties. It was a sudden rise for Indah Court which currently transacted not less than RM220K for 1st floor lately with steady rental yield of 7% per month depending on furnishing. Not only that, the numbers transacted and advertisement for sales in the news also decrease which strongly indicating this area is under going further appreciation due to good rental take up and higher number for owner occupied. I strongly believe a lot of people start to realize that Likas property is a MUST OWN area!!

There is nothing wrong if you got married at this stage but never carry long term debt just to get your spouse. I think your spouse will be happier if you could spend more time with her when your properties start to generate more passive income for her to spent. Like I always say, you are well educated by your parents but will your kids have the same chances like you? Yes they will…provided you do something for them that is save, invest and keep leveraging with calculated risks. Happy Investing


About This Blog

Was established since 20th Rejab 1430.
Just to educate myself.
`Sharing is Caring-The more you give,the more you get``

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`We are often afraid to do things until we are sure we will do them well.Therefore we don`t do anything...`




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