In continuation to very interesting post#77466 by friend "GOAL"; i want to continue the light discussion today with a slight different but with more specific conditions. hope all the experts and friend will contribute :)
For an overseas pakistani living in middle east since last few years, what can be his work plan to come back in next few years with conditions as below.
1. Current saving in the form of pakistani property b/w 1- 1.5 crores
2. In a profession related to design and construction (Architect or Civil Engineer)
3. Relatively young age between 30-35 (its mentioned beacause he is young enough and in a position to do some hardwork unlike a person who will be entering his 50s and thinking about some relaxed incomes)
His goals after coming back (say after 2-3 years) are
. monthly income of minimum 2 lacs per month.
What should be his workplan or plan of action to achieve his goal, considering his specific conditions(including his current savings)
All serious advises in order to achieve that goal are welcomed
King of Kasur- replied on Thursday, December 10, 2015 03:55 AM
ur expected rate of return is very high but achieveable. I already started work on it
1- start a business related to daily consumables. in this line ROR is high but competition is tough.
2-rental income from commercial investment. ROR is low but less risky. capital grows also.
3- Never go for fixed income source. ultimately ur money value decrease bcz of high inflation in pakistan.
King of Kasur. (currently banished to KSA) |
Habib replied on Thursday, December 10, 2015 04:09 AM
Retirement plan Looks nice when you look at it from distance but acutually it is very bad for you health and psychology. Best thing is to continue working is reltively stress free environment and if there some other commitments or old age then flexible job is best.
A Person at 35 should Look for promotion and increment in income than retirement.
However it is always good to have some liquidity = Assest with you which helps to relieve anxiety.
"Relatively young age between 30-35 (its mentioned beacause he is young enough and in a position to do some hardwork unlike a person who will be entering his 50s and thinking about some relaxed incomes)" |
Maverick replied on Thursday, December 10, 2015 04:26 AM
Dear Habib,
Did I mention anything like retirment seeking option in my statement ?? i guess not.
You copied my statement at the end in which i have mentioned the age group and his position to do continous hard work rather than become a layback person.
Intent of my question is to ask about some better prospects about doing one's own work/business etc, rather than doing for someone else (i.e. job) which gives a feeling of daily prison, lesser liberties and lesser room to exercise your own ideas and will in life... That all will end up compromising one's overall confidence in his life.
Bottom line is that i am asking for a workplan in given conditions. that what viable growth options are available (of-course sitting idle whole day and eating lazy profits is not an option for a young person) |
DXB replied on Thursday, December 10, 2015 05:21 AM
@Habib, good message. Thanks |
King of Kasur- replied on Thursday, December 10, 2015 06:17 AM
I disagree humbly with Habib sab.
Working class kay liya aik golden Quote hay;
“They key is to work extremely hard for a short period of time and then make money work hard for you through wise investments that yield a passive income for life.” |
Waqar replied on Thursday, December 10, 2015 06:33 AM
Your point is right King..
If person gets free from his financial anxieties... then he can choose anyhting to work upon as per his own choice... not due to forced financial factors... as mostly did in their working lives.
If a person knows that his investments are reaping handsome yields for him monthly and on a permanent basis then he can choose his practical life as per his own will :)
hope all understand |
khalid replied on Friday, December 11, 2015 04:00 PM
In continuation of this GOAL what about if someone invest about 10Million for rental income, say generate 1 Lac per month & rest 5 Million used for business so that he would have the fix income plus he would have the business which can also generate some monthly income with growth & man would be busy as well. Also have his own control on work & movements. Thanks |
tahir replied on Friday, December 11, 2015 04:04 PM
Excellent comments by Waqar; I have the similar situation with personal assets around 15-20 million age 29. I have invested all in DHA and Bahria Town plots in Lahore and Rawalpindi but in near future do want to have decent monthly income along with relatively less stress job!
To be free from financial anxieties and choose anything to work upon as per my choice!!!
Construction of house and rent is one option but I don't like the headache involved in doing so plus qabza issues!! Other I can think of is buying and selling plots that can yield you decent profit but not a guarantee of fixed 2 lac income!
National Savings can yield you 2 lac per month on investment of 2 crore but that 2 crore will be highly inflated in 10-20 years.
My vote is for buying selling plots use brain invest in under priced areas |
