A rat race is defined as an endless, self-defeating or pointless pursuit of a competitive activity. Imagine a rat in the laboratory trying to escape while frantically running around a maze or in a wheel. This analogy is often used in reference to work in our modern society. Most people enter the rat race to earn income. They travel to work early in the morning, work very hard to get a promotion (hopefully) and then work even harder for the next promotion (again hopefully). This corporate ladder climbing continues until they peak and stagnate at a certain level. As there is only one CEO and few senior management positions in an organization, only a handful of employees would be promoted to these appointments. What are the chances of people reaching the highly coveted management positions in the course of their career?
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The property market in Singapore has been heating up for quite some time. Recent news reported that Singapore properties are still being snapped up despite the sky-high prices. Real estates remain a favorite asset class of investment for both Singaporeans and foreigners alike despite the current uncertain economic times. It is no wonder that so many property investment seminars are popping up everywhere to take advantage of this property craze!
Advertisements with headlines such as “How to Invest in Properties with Little or No Money,” “How to Buy 10 Properties for the Price of 1” and “How You Can Make Millions in Properties with No Money Down in Just 24 Months” are common and frequent in the newspapers. The messages tout that property investment is the fastest and easiest route for anybody who wish to become extremely wealthy. There are of course disclaimers (in very fine prints at the bottom of these advertisements) stating that all investments carry risks and may not be suitable for everybody. But how many potential investors take notice of such disclaimers cautioning them on the risks involved? Buyers beware - if an investment opportunity sounds too good to be true, it probably is! |
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