James asked 10 years ago
Dear KC Lau,
i am a early 30s adult working in overseas most of the time. My earning salary is in USD currency and I earned near to 10k USD a month for my gross income, and its income-tax free for some reason of my career.
due to the nature of my work, i have always being away from my family for couple of months throughout the year.
instead of thinking of switching jobs, i am planning to focus myself more on how to generate passive income so i can spend more time with my loved ones in Malaysia.
I know there are talking about shares and property for generating passive income, and all these need to be monitored time to time and take actions when opportunities rises; share prices up / any seller to buy your property at higher price.
I feel a bit lost and i always only being at the tip of the icebergs when it comes to investment knowledge.
can you personally advise me with my current earning power, what are the best options for me to do now. how much should i allocate if i wanted to have passive income generating asap and retire for good in 5 to 10 years from now.
i hope i am not asking something silly here and thank you for your time.
KCLau Staff answered 10 years ago
In any situation, almost all the time investment knowledge and skill is the solution. In your particular case, I still believe you need to equip yourself with investment knowledge.
You can choose stocks and properties. But when you are not in the country most of the time, stocks is a better choice. The key word here is doing Value investing. It needs monitoring, but the method don’t require you to take super fast reaction to the market. Because you don’t need to be a super trader. You need to be a super investor.
You buy great assets (good businesses), by not overpaying for it. Then the business will grow as time goes by and you wealth will grow too.