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Retiring early in HK - Investment Strategies

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  1. #11

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    Quote Originally Posted by Mat:
    First of all nothing is guaranteed....

    The guy is 33... assume he goes like the average in HK to 82... he has 50 years to go... u telling me u already know that in the next 50 years HK won't change a bit and healthcare will remain free, transport cheap, etc etc. Oh fuck wait... in 30 years HK goes back to China so oh shot actually you have no clue!!!!

    Second of all... again what u describe above is more or less what any half decent gvt in the west )i developed country.. sthg HK claims to be) would provide its citizens (the USA are a bit special so we will leave them out of this discussion).

    so again what is soooo great abt HK gvt?
    It's great in that it's free. Most countries tax capital gains, retirement income, or sales transactions. Are you complaining about free stuff? I sure don't, but if I was, I would. Poor guy, 30 years of guaranteed free stuff only.
    rickyross likes this.

  2. #12
    Mat
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    Quote Originally Posted by civil_servant:
    It's great in that it's free. Most countries tax capital gains, retirement income, or sales transactions. Are you complaining about free stuff? I sure don't, but if I was, I would. Poor guy, 30 years of guaranteed free stuff only.
    Most country tax.... and that helps the poors... that's why somehow HK ends up with one of the highest Gini index in the world.. but it's ok Civil servant is happy w that since he gets free stuffs.

  3. #13

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    Quote Originally Posted by Mat:
    Most country tax.... and that helps the poors... that's why somehow HK ends up with one of the highest Gini index in the world.. but it's ok Civil servant is happy w that since he gets free stuffs.
    I'm not happy with that. I said I'd like to pay more taxes, introduce more labour protection, and provide better work spaces. But talking to many Hong Kongers, this is not going to happen. Talk to anyone employee about raising taxes or employer about expanding labour rights and you get a mute discussion. So basically what people want is for the government to spend their fiscal reserves. Even though they may be big, the money can be quickly squandered. For example, they spent $20 billion on recreational facilities and $30 billion on the elderly, but people complain it's not enough, it's boring. Taking that into account, what sum would be enough? $100 billion? $200 billion? Looking at those numbers one will realize that those reserves could be drained quite quickly.

    Another way for the government to make money is to take taxes from foreigners or charge them for serviced either by allowing shady financial services or by luring them into the property market. As you all know, this has other negative consequences. Unfortunately though, that's the price you pay for low taxes. That's why there is a train being built in Kowloon. Paid for by rich foreigners buying flats who want to come live in the city and have access to the mainland. Anyone who thinks that we pay for this train has themselves fooled.

    Hence, the discussion of low services cannot take place without also acknowledging taxation. Otherwise it will always just end up in cynicism.
    rickyross likes this.

  4. #14
    Mat
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    So we don't raise tax and we don't increase spending ok.... btw who said u need to increase spending???? What is needed it better use of the money... as I said before part of the economy doesn't need the gvt (yet it intervene... again food truck) while some need the gvt (yet he isn't because it benefits... tycoons).

    if you honestly believe that CY and co in the last 5 years have worked days in days out only thinking about the best for HK and its citizens...am not sure what to say.


  5. #15

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    Given his simple lifestyle (sleeping, sports and video games are his favorite pastimes), he reckons the dividend income from his HSBC shares will be enough to sustain him for the rest of his life.

    Fair enough if you want another 50 years of doing that. As an Irishman I remember a few guys taking a similar approach to Irish bank shares in 2007...

  6. #16

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    I know this post is an old one, but just browsing through some of the sections on this site and came across this one. I wonder what is he doing now?


  7. #17

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    Quote Originally Posted by wanderer01:
    I know this post is an old one, but just browsing through some of the sections on this site and came across this one. I wonder what is he doing now?
    Driving an Uber? His shares have about halved in value, and dividend has been slashed too. The pperils of investing in a single stock.
    pin likes this.

  8. #18

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    I thought that those folks had already swopped them for Link REIT, Tencent, SMIC?

  9. #19

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    Quote Originally Posted by gigglinggal:
    I thought that those folks had already swopped them for Link REIT, Tencent, SMIC?
    I don't think dividend investors would be too interested in Tencent / SMIC.
    gigglinggal likes this.

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