Originally Posted by
magenta magnet
The fact that you :
1) immediately choose a more expensive house
2) believe any pension on the planet is good for retirement after 10 years of contributions
The above shows a huge issue and a complete misunderstanding on how investing works. You need to look at contributions / growth over the long term and see what the graph does. This notion of "I want to work for CX or any airline for 10 years and retire on a 100m yacht with $10m in the bank is madness"
Investing is a slow game, not a get rich quick scheme.
I never stated it’s a get rich quick. I know how investing works. But when the funds available in the provident fund are junk. My timeline was, 10 years in provident fund from CX will give you about $100K-$150 HKD per year, so that’s about at best $1.5M, that’s without investing, let’s assume an 80% return over the 10 years, that leaves you shy of $3 mill. Like I said, at best 2 years living in Hong Kong. Maybe 3 years
Also the property I stated is enough of a decent size (by Hong Kong standards), in the cheapest complex in the cheapest suburb