View Full Version : Teach your kids about property investment..
i have come to the conclusion that only way up in singapore today is thru property
Investment....forget hard work study financial investment....THINK....upcoming mrt...rental
..fh..leasehold..:2cents:
Govt should think of starting a subject in pri school..called property investment:D
Poly already got courses on Real Estate...
But in recent tv interviews there are some Sec sch or is it JC students commenting on rising unaffordability of housing sounding quite the expert observer. You may just be right to suggest that.
Regulators
01-09-12, 12:21
I think teaching kids about property investment is not a gd idea. They should learn the values of hard work and financial prudence before anything else. Too many kids I see these days just want quick fix solutions in life and it is the result of our educational system teaching them about making money fast thru business, property etc. while investment is gd, but imparting the right values in children should always come first.
i have come to the conclusion that only way up in singapore today is thru property
Investment....forget hard work study financial investment....THINK....upcoming mrt...rental
..fh..leasehold..:2cents:
Govt should think of starting a subject in pri school..called property investment:D
Oh...my wife and I have started teaching my kids on property investment since last year:D .
We always bring them along to view the show flat and want them to observe how we talk and nego to the developer's sale agent through conversation..etc. When we back home, We will try to listen to their thought, comments and feedback from what they have observed during the show flat session :D .
Beside this, we also discuss about rental in Singapore and investment oversea topics..:rolleyes: .
I dun know whether it's the right track but what I want them to learn is ,how to invest n manage our properties that we intend to pass over to them once both of us are..:OldFart: ..and no long around..:simmering: !
I think teaching kids about property investment is not a gd idea. They should learn the values of hard work and financial prudence before anything else. Too many kids I see these days just want quick fix solutions in life and it is the result of our educational system teaching them about making money fast thru business, property etc. while investment is gd, but imparting the right values in children should always come first.
If I had my way, Primary school will have civic lessons like i have in my primary school years in 1980s.
Secondary School compulsory have oral debate and critical thinking modules. Victoria school we had CORK(Ya..I think the name is CORK or CORT..not COCK) in the 1980s too. It was the Debono era.
Polytechnic and JCs, we should make it compulsory for Financial literacy. Investments of properties, bonds, shares. and Accounting.
Oh...my wife and I have started teaching my kids on property investment since last year:D .
We always bring them along to view the show flat and want them to observe how we talk and nego to the developer's sale agent through conversation..etc. When we back home, We will try to listen to their thought, comments and feedback from what they have observed during the show flat session :D .
!
Wa... Can i tag along as one of your kids to learn and observe how to talk and nego with sales agents? :)
Wa... Can i tag along as one of your kids to learn and observe how to talk and nego with sales agents? :)
Hahaha..can..but pay $$$ to learn la...:D !
Allthepies
01-09-12, 15:04
I'm interested to learn too:D wat do u usually nego on? :D :D
Lessons on creating and preserving wealth will be useful for them.
All the piggybank teachings must stop. They need to know keep cash in bank or stashed away is useless.
Oh...my wife and I have started teaching my kids on property investment since last year:D .
We always bring them along to view the show flat and want them to observe how we talk and nego to the developer's sale agent through conversation..etc. When we back home, We will try to listen to their thought, comments and feedback from what they have observed during the show flat session :D .
Beside this, we also discuss about rental in Singapore and investment oversea topics..:rolleyes: .
I dun know whether it's the right track but what I want them to learn is ,how to invest n manage our properties that we intend to pass over to them once both of us are..:OldFart: ..and no long around..:simmering: !
property investment in Singapore is pretty much a no brainer no matter how good a property investor you think you are. As long as the general economy is doing well, those who have spare cash and holding power to invest will make money. If economy is doing badly, again those who have spare cash and holding power will also make money.
I have a friend who have done very well in property told us that he is not exactly very proud to tell his children about how he make money because he thinks his job is boring and doesnt really contribute much to the economy, or create jobs.
And if you tell you kids how easily you can make money from flipping property, then you are indirectly discouraging them to pursue a real career.
even so, they need to earn their keep to accumulate their first seed money.
property investment in Singapore is pretty much a no brainer no matter how good a property investor you think you are. As long as the general economy is doing well, those who have spare cash and holding power to invest will make money. If economy is doing badly, again those who have spare cash and holding power will also make money.
I have a friend who have done very well in property told us that he is not exactly very proud to tell his children about how he make money because he thinks his job is boring and doesnt really contribute much to the economy, or create jobs.
And if you tell you kids how easily you can make money from flipping property, then you are indirectly discouraging them to pursue a real career.
I think you have totally misunderstand my concept of teaching my kid about property investment..:rolleyes: . They have their own dream of being somebody and working toward their goal and what I am teaching them is the process of how to gain, hold & expand the wealth when they grow up. Saving money for investment and rainy day is part of the process and work toward to be an entrepreneur in Singapore rather than to be worker for life like my father or grandfather use to be..:banghead: !
Do you really think property investment Entrepreneurs is not contributing to the economy in Singapore :rolleyes: ?
even so, they need to earn their keep to accumulate their first seed money.
True. Have to teach them saving money when they are young....:D !
property investment in Singapore is pretty much a no brainer no matter how good a property investor you think you are. As long as the general economy is doing well, those who have spare cash and holding power to invest will make money. If economy is doing badly, again those who have spare cash and holding power will also make money.
So... if I have spare cash now, I am assumed to have holding power.
I now invest all into properties.. now i have no cash and doubtful holding power(assuming leverage).
But you say downturn, those who have cash and holding power will make money.. but if i invest now.. do you think i will have any?
When downturn come.. I have no cash and no holding power.. *GULP*.. HEHE
So far, I've been wrong.. and now i am panicky.. hehe. got cash .. bo properties..
I think you have totally misunderstand my concept of teaching my kid about property investment..:rolleyes: . They have their own dream of being somebody and working toward their goal and what I am teaching them is the process of how to gain, hold & expand the wealth when they grow up. Saving money for investment and rainy day is part of the process and work toward to be an entrepreneur in Singapore rather than to be worker for life like my father or grandfather use to be..:banghead: !
Do you really think property investment Entrepreneurs is not contributing to the economy in Singapore :rolleyes: ?
Think we need to separate the two - wealth and dream.
Unless 'being rich' is the dream, then I got nothing to say....
Think we need to separate the two - wealth and dream.
Unless 'being rich' is the dream, then I got nothing to say....
When you rich then you can go for your dream and do whatever thing you like meh...:D !
I think you have totally misunderstand my concept of teaching my kid about property investment..:rolleyes: . They have their own dream of being somebody and working toward their goal and what I am teaching them is the process of how to gain, hold & expand the wealth when they grow up. Saving money for investment and rainy day is part of the process and work toward to be an entrepreneur in Singapore rather than to be worker for life like my father or grandfather use to be..:banghead: !
Do you really think property investment Entrepreneurs is not contributing to the economy in Singapore :rolleyes: ?
It is very common for Singapore kiasu parents to want to expose their children to things which are beyond their age because parents believe that by doing so their kids will have a early head start as compare to their peers.
You mention that gain, hold, expand wealth. Does you kid have the capacity or be interested to learn about investment risk, interest rate, cost of funds, opportunity cost, government policy, macro micro economy etc? Did you ever hear people like Jim Roger, Warren buffet or even LKY teaching their kids about investment?
And do you have good enough reason to believe that your kid will have the ability to understand the body language and facial expression of someone who have been to NS, had premarital sex, smoke in their teenage, drinking, partying in night club, and have done million dollar worth of deal in his career. perhaps you should consider teaching your kids about wearing condoms to avoid unwanted pregnancy, or put them behind the wheel so that they can drive you to work.
Anything that involves purely on buying and selling doesnt really contribute much to the economy. What sort of value add do you think you will contribute to what you are selling if you flip a property or you become a landlord, as compared to someone who work in the factory that produces 50 LED TV a day, or someone who is producing a piece of art.
By making money from speculating, you will only create hardship for those who tries to make a decent living. That to me is not something which you should be proud of anyway.
When you rich then you can go for your dream and do whatever thing you like meh...:D !
I think you got it totally wrong. Most successful people (be it in business, sports, art, music and humanitarian) in this world are not born with a silver spoon.
Property is really abt hoarding precious land n material resources n wait for late comers to join in e game to buy or rent from u. The basis tt an investor uses is a growing population n affluence at a location w limited land supply. V simple logic tt many understand, but not many have capital to start up n have buffer. Once u have e capital, it is actually v easy to learn. If not, u can only just come up with a lot of fantasy n talk.
Property is really abt hoarding precious land n material resources n wait for late comers to join in e game to buy or rent from u. The basis tt an investor uses is a growing population n affluence at a location w limited land supply. V simple logic tt many understand, but not many have capital to start up n have buffer. Once u have e capital, it is actually v easy to learn. If not, u can only just come up with a lot of fantasy n talk.
well said bro...:cool:
not everything can be achieved via money
I think you got it totally wrong. Most successful people (be it in business, sports, art, music and humanitarian) in this world are not born with a silver spoon.
Many are learn through hard way.. like me...so impart the skill, knowledge, to the younger so that they can foresee ahead is nothing Wrong unless you are still single w/o kids..:rolleyes: !
not everything can be achieved via money
Yes, not everything can be achieved via money but no money, many things can be done too...:doh: .
Many are learn through hard way.. like me...so impart the skill, knowledge, to the younger so that they can foresee ahead is nothing Wrong unless you are still single w/o kids..:rolleyes: !
May I know how old is your kid?
Yes, not everything can be achieved via money but no money, many things can be done too...:doh: .
no money no talk...:rolleyes:
no money NO honey...:scared-3:
no money no talk...:rolleyes:
no money NO honey...:scared-3:
best honey is still honey which you dont have to pay for it.
best honey is still honey which you dont have to pay for it.
yup also hope dont get sting by bees...:scared-4::D
yup also hope dont get sting by bees...:scared-4::D
dont worry, mama and papa will protect you.
Oh...my wife and I have started teaching my kids on property investment since last year:D .
We always bring them along to view the show flat and want them to observe how we talk and nego to the developer's sale agent through conversation..etc. When we back home, We will try to listen to their thought, comments and feedback from what they have observed during the show flat session :D .
Beside this, we also discuss about rental in Singapore and investment oversea topics..:rolleyes: .
I dun know whether it's the right track but what I want them to learn is ,how to invest n manage our properties that we intend to pass over to them once both of us are..:OldFart: ..and no long around..:simmering: !
unless you have bought many properties, experienced many buy and sell transactions, doing calculations, etc you sure you are teaching them the right things?
It is probably more useful to teach them financial literacy, and property is part of it. Unfortunately, it is not taught in school. We end up with many people burnt in financial products that they didn't understand when they bought them or see their savings whittled away by inflation.
I think you got it totally wrong. Most successful people (be it in business, sports, art, music and humanitarian) in this world are not born with a silver spoon.
Many are not born with silver spoons, but a lot more are born into middle-class and the parents have the means and connections to give them a good head start. The rags to riches stories are actually not that many in Singapore, particularly in recent decades, as the economy matured and MNCs/GLCs muscled into the market.
Most parents see education and giving the children a sum of money and a property to get ahead. This is the basis for tons of enrichment classes for young kids, good sales of savings-linked insurance products for children and property boom in the last few years.
It is probably more useful to teach them financial literacy, and property is part of it. Unfortunately, it is not taught in school. We end up with many people burnt in financial products that they didn't understand when they bought them or see their savings whittled away by inflation.Financial Literacy is currently not a core subject in secondary schools but it certainly is taught in some secondary schools. I certainly agree with you that FL must be taught before property investment. You will need huge capital for your first property, not to mention property investment therefore a prudent financial literacy must be present to help that wanabe investor save enough to buy his first property. :cheers5:
Financial Literacy is currently not a core subject in secondary schools but it certainly is taught in some secondary schools. I certainly agree with you that FL must be taught before property investment. You will need huge capital for your first property, not to mention property investment therefore a prudent financial literacy must be present to help that wanabe investor save enough to buy his first property. :cheers5:
The rate of savings must exceed the inflation rate of properties. Children born into families at approximately 0-20th decile have a lot to worry about upward mobility in terms of property. Most of their parents' income (<$3135*) can barely meet the cost of living after deducting CPF. Property investment is most likely only a dream for most of these families.
* http://www.singstat.gov.sg/pubn/papers/people/pp-s18.pdf
Many are not born with silver spoons, but a lot more are born into middle-class and the parents have the means and connections to give them a good head start. The rags to riches stories are actually not that many in Singapore, particularly in recent decades, as the economy matured and MNCs/GLCs muscled into the market.
Most parents see education and giving the children a sum of money and a property to get ahead. This is the basis for tons of enrichment classes for young kids, good sales of savings-linked insurance products for children and property boom in the last few years.
Are you talking about Singaporeans or the world in general?
Wealthy children will have a few houses, cash and even given a chair in the business.
Many are not born with silver spoons, but a lot more are born into middle-class and the parents have the means and connections to give them a good head start. The rags to riches stories are actually not that many in Singapore, particularly in recent decades, as the economy matured and MNCs/GLCs muscled into the market.
Most parents see education and giving the children a sum of money and a property to get ahead. This is the basis for tons of enrichment classes for young kids, good sales of savings-linked insurance products for children and property boom in the last few years.
http://www.youtube.com/watch?v=OBPsdJAzBC0&feature=related
Sharing my experience.
I started my children in gaining knowledge in investment at very young age.
My two children started reading Rich Dad, Poor Dad when they were teens. I have many books at home for their reading.
When come to teaching them, I dun narrow just to the property investment, but rather all asset classes, as these are all inter-related.
Perhaps a comprehensive and holistic way is to share with them the macro economy first before zooming into the specific investment vehicles.
My son has been following us in the last few years to all sorts of investment seminars, talks and show flats. A lot of these knowledge cannot be learnt from the classroom.
As for my girl, she is now very much on her own investment strategy. If she likes, she just tell me what she is doing or has done. No opinion is needed from me.
Sharing my experience.
I started my children in gaining knowledge in investment at very young age.
My two children started reading Rich Dad, Poor Dad when they were teens. I have many books at home for their reading.
When come to teaching them, I dun narrow just to the property investment, but rather all asset classes, as these are all inter-related.
Perhaps a comprehensive and holistic way is to share with them the macro economy first before zooming into the specific investment vehicles.
My son has been following us in the last few years to all sorts of investment seminars, talks and show flats. A lot of these knowledge cannot be learnt from the classroom.
As for my girl, she is now very much on her own investment strategy. If she likes, she just tell me what she is doing or has done. No opinion is needed from me.
so how are they doing now? still reading and attending courses? or are they putting what you've taught them into action ?
so how are they doing now? still reading and attending courses? or are they putting what you've taught them into action ?
I just can share, what I invested in them is not wasted.
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