I just graduated from NUS and am jobless. Not by circumstances, but by choice. You see, I have been trading and investing since I was in JC, and throughout the years, I have accumulated a sizeable amount. Coupled with some businesses which I founded (some sold), I am currently sitting on a net worth of over $35 million dollars. My passive income alone stands at about $1.2 million a year, or $100k a month, which is more than enough to live a life of luxury.
However, my parents do not know about this. I come from a very average singaporean family staying in a heartland HDB.
Being typical parents, they want me to secure a good job with a decent salary. They see me being so relaxed and have started to nag at me for not finding a job.
What should I do?
Here are what netizens think:
- Hello friend its so simple just transfer the fund to me i will take care of it , you will be less stressful and follow what your parent wants you to do or maybe working me how to invest those money you transfer to me, good idea rightÂ
- If real, here’s some legit advice: Find an attorney, and don’t get one through connections. Go to a law firm, ask for an attorney for a consult (someone who has 0 connections to you) and then discuss your financial situation. Important for you to NOTÂ tell anyone about your financial situation until after you speak to an attorney.
- Despite what people tell you, about blood is thicker than water, or family is family or what not, money will affect your relationships no matter what. People will try to be your friend, or try to offer you advice (lol the irony here), or sell you services and what not. This is why most TOTO winners become bankrupt even after winning millions.
- Get a will, adequate insurance, and a proper financial manager who charges on a fixed rate (not a % of capital managed rate) to properly protect your wealth. At the same time, set up a fund for your family (assuming you’re wanting to leave them something in terms of money). This fund can be set up with ~3 to 5 mil, with a monthly or yearly draw down rate predetermined by you to them. The rest would be set up for yourself.
- After you set everything up and ensured you are represented, insured, and protected your wealth from all sorts of people (friends, family, coworkers, random people on facebook), then you can start to reveal it to people. I’d only reveal the fund you’ve set up for them (siblings for maybe their first HDB house, parents as a supplemental income on the condition that they retire, so that the principle is protected or something like that).