Blueroselady's Weblog

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Buying and paying for a flat

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Assume a flat costs z amount.
Our monthly salaries are a + b = a+b.
It will take 75x our our salaries to pay for a flat.
However, we need to spend for parents and children, food and clothes.
If we use 22.4% of our combined income to pay for a flat, and without considering interests, it will take us 333.3 mths (~28 years) to complete the payment.
Assuming I am 30 years now, I have to pay until I am 60-65 years old.
We have to be constantly bringing home at least our current salaries.
Now, I understand the sorrow of a senior scientist who told me that if he could re-do his life, he would be an investment banker.

Who says money is not important? My mentor told me that if I have money, I could use it to build a school. Of course, money can have both positive and negative effects, we are to earn and use it wisely.

So, what could I do now to improve our current situations and face upcoming challenges?
(1) increase income (do part-time jobs, do investment).
(2) be an entrepreneur or fund manager.
(3) win lotteries.

Written by blueroselady

January 7, 2011 at 3:52 pm

Posted in finance

Tagged with , , , ,

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