lucky? or not?

Hmmm.. election is coming.. GST is going to up to 10%... Greece is facing financial crisis lol...i
been tired these few days cos lot of lessons and stuffs....

Was talking to a friend regarding investment and he told me abt his friend's waterfront bungalow at Sentosa Cove. He told us that the bungalows there are really beautiful and amazing but I think its crazy to pay $1,300 per square foot for a 99-year leasehold property. His friend purchased a 12,000 square foot house (with a berth and yaucht attached) for a cool $14 million +. This friend of him makes his millions as the head of investment for a financial MNC powerhouse. He makes hundreds of millions of dollars for his company, so I guess paying him a $5m annual bonus is no big deal to them.

In his house, there were four luxurious cars in the driveway. He drove a black Lamborghini and bought his wife a BMW 7-series. When he asked what the other two cars were for, his friend said that he bought his 21-year old son (studying engineering in NUS) a Mercedes Benz S-Class and his 19-year old daughter (studying in a local poly) a BMW 5-series. After chatting with him for a while, he also found out that his two kids carried thousand dollar handphones (vertu) and would not be caught dead eating at hawker centres. At first, I thought that his kids were damn lucky to be born in such a rich family and to have such a generous father.

However, after chatting with my friends on the way back and thinking about it for a while, it dawned on me that the two kids were in fact damn sway lah as their dad had just set them up for a life of debt and misery. First of all, it costs about $3,500+ a month to maintain those cars (petrol + insurance + roadtax + install) and each time you send it in for repairs, the bill will easily come to $3000-$4000. Because of the lifestyle they are used to, they will only feel comfortable spending $30+ on a meal at a restaurant.

Now, the dad does not own his own business. He just happens to work for an MNC, so he certainly cannot pass his job and his huge income to his two kids. And he certainly is not going to give them an allowance after they graduate, find a job and get married. At the rate the father is spending his money, his dough won’t last very long past his retirement.

So, his kids will have to graduate and find a job like anyone else. When they get a first job, how much can they get paid? Even if he has an honors degree from NUS, the most he can hope to get is $2,500/month. With a diploma, his sis can probably only get a job for $1,800. Once they drive that BM or that S-Class, do you think they will ever drive a Toyota? Unlikely. So they will probably use up their entire salary just to pay to maintain their cars (which is a liability by the way) and run up their credit cards to the max just to finance their restaurant meals, handphone meals and Prada/ Hugo Boss fashion wear. Before they reach 25, my prediction is that they will probably be heavily in debt and untterly misrable. So on second thoughts, I think they are really unlucky… What do you think?

The major difference between the big shot and the small shot is the big shot is just a little shot who keep on shooting- Zig Ziglar