nix,
you should not migrate to perth coz Singapore is now the richest in the world according to yahoo news below
*****
Dear Nugi nugi,
You know what? Upon receiving your email, I booked my air ticket immediately to head back to Singapore. I could not afford the ticket to board the next available plane. Obviously. Because I have not been living in the world richest country for almost a year. So that would be delayed till September. I would be in Singapore soil by then. Hopefully I would have a job waiting for me and get rich in no time.
By the way, you probably did not read my blog right from the start. I don't blame you. My content could blind eyes, I wouldn't re-read it myself. Just read my personal all time favourite post, it pretty much tells the whole story.
I came to Perth to work, live and play. In this equation, money is not. It is also important to note that the equation was slightly different for me when I was in Singapore where slogging (S) precedes W. That might be for you, but it isn't for me. What I wanted very straightforward, I call this the Living Quotient (LQ) whereby,
LQ = W + L + P
Since you are into statistics, I'll share with you something freshly out of the oven, released today by the Economist Intelligence Unit (EIU).
2012 World's top 10 most liveable cities: [source]
1. Melbourne, Australia.
2. Vienna, Austria.
3. Vancouver, Canada.
4. Toronto, Canada.
5. Calgary, Canada.
5. (equal) Adelaide, Australia.
7. Sydney, Australia.
8. Helsinki, Finland.
9. Perth, Australia.
10. Auckland, New Zealand.
I reckon I am doing fine plying my trade in a country with 4 cities within the Top 10 Most Livable Cities chart. Using the Pareto's Principle, I am focussing on 2/3 of the Living Quotient by making sure my L and P is well addressed while ensuring W does not turn into S.
I am willing to be convinced otherwise. Since you have motivated me to book an air ticket back home, meet me up in September and show me where the money is. I can't wait to be part of the richest country in the world leh.
GDP per capita as measurement of wealth is intrinsically flawed anyway. A rich country does not necessarily translate into wealthy citizens. Not to mention that our population is relatively small compared to other nations anyway. Add to that the fact that one component of GDP is govt spending, I guess the reason for our outstanding GDP is pretty clear.
ReplyDeleteWonder where is the world richest city in the list of the world most livable city?
ReplyDeleteI have been staying in the world richest city for all my life but I dun feel rich or seem to be rich, may be I am a loser.
Anyway I have chosen to be a quitter to settle in Australia soon.
My first choice city which was my second home before, is number seven on the list.
Hmmm...I must have missed out getting rich as I left Singapore nine years ago for the most livable city. But on 2nd thoughts, will I have been the owner of 4 properties if I have been staying in Singapore ?
ReplyDeleteHi.... I know lot of things but property investment i not one of my forte, i think it is great to have 4 properties in 9 years, maybe you can share some of your experience/knowledge or info...
Deletewow,Anonymous!
ReplyDeleteHow do you manage to be owner of 4 properties?
I read about getting mortgage loan then rent out, but interest on mortgage can be tax-deductible. Can you elaborate more if you have knowledge?
Currently, i am still struggling to pay mortgage for my SG home.. however, in near future, i am (WILL) moving to Australia. I really need insight on how this works so i can decide whether to cash out and buy ... or...
Not sure whether i could find job easily in Australia (cultural and linguistic limitation lei).. So, thinking to buy small apartment for rental income or whatever can let me have some income while i am searching for jobs. Please kindly advise.
Thanks!
Yes, in essence you are right, what ever interest you pay for a loan to purchase an income producing asset(ie investment) is tax deductible. Similarly any expense that you have to spent to maintain / upkeep that investment is also tax deductible.
DeleteI suggest you take your time to establishe yourself in AU and gain the knowledge before venturing into it. I only started property investment 2 years ago, so take your time.
There are also implications with investment properties such as Capital Gains Tax. For eg. If you use your principal residence to earn income (you stay in it and at the same time rent part of it out), the profit upon selling X that portion used to earn rental income will have to be included with your assessable income. Anyhoo I will not go into the details but it's always best to research and also seek a tax accountant's advice before you take the plunge. Do not rely on third party info.
DeleteRichest city or country is just an illusion! It a tually depends on your priority and how you allocate your resources or wealth. For eg. - A guy earning 10K a mth vs a guy earning earning 5K. If the former lives a life of high society like expensive wining and dining, big car, branded stuff etc, he will still end up with debts. The latter is frugal will lead a much better fulfilling life. It's the same with a country. If that country decides to spend tons of money defence, Olympic medals, children's games, giving billions to IMF, giving out scholarships to foreigners, etc etc, money sure not enough! The citizens of that country will be poorer in terms of welfare and benefits! Hence, it's a question of how you prioritize. It seems that the citizens are not important to them. But they forgot that the citizens put them in power! How ironical.
ReplyDeleteHeheh, nice examples.
DeleteI am now living in "poor" Canada. If one compares the median lifestyle (not average which can be easily skewed) in "poor" Canada vs "rich" Singapore, one would understand very quickly why more Singapore citizens apply to be Canadian citizens, then the other way around.
The gov gives you $5k but takes away %6k from you. That is not called rich, that is called robbery.
ReplyDeleteThere are less migrants from Singapore to Australia compared to Malaysia. I am not too sure why Singaporean choose to leave. I have a Singaporean Malay colleague. Malaysians have to leave because we are discriminated in Malaysia as minority and the bloody corrupted and incompetent government.
ReplyDelete