This blog post is trigger by Questions like should I invest in ETF and fight inflation with my savings. To begin with, our objective must...
This blog post will not go into how much to qualify or how to go about the purchase. This will just be my humble opinion of the 2 product...
This post is trigger by a Question on at what age should a "will" be written. The "will" part have been covered in th...
I was thinking about writing this blog for 2 days but I am really busy. As a financial blogger, I feel I should do my part in helping t...
One must know the big picture of the loan and do a projection to know how long and how much to pay. https://www.hdb.gov.sg/fi10/fi10321p...
This post is triggered by a Discussion with a Fellow Status Friend who have planned to Top Up his CPF Retirement Account (RA) to Enhanced Re...
This post is triggered from SRS being a better fund for "Guarantee Return" Endowment Plan GE270 rather then cash on hand. I w...
This Blog Post will focus on CPF Projection by age 55 years old from a person current age. This is to help get some idea on the amount tha...
This post is triggered from Ms Leianne Tan post on " Married couple in S’pore agree to divorce to buy another HDB flat to rent out...
My views on Keppel Corp and I am bearish bias. Even though Keppel secures contract to perform second FLNG vessel conversion for Golar o...
Saturday, 14 February 2015
Give yourself Success.
Have you ever wonder what is the secret behind a Successful Person?
Most people will answer hard work and effort but this is not enough.
***The Secret is to Learn from another Successful Person.
This is true and sad at the same time because this line have been abused by Scammers who wanted you to pay them first then see Result.
Those who are willing to help you will never ask you to pay them.
Another Secret would be to learn from other mistake.
***Mistakes are costly and by learning not to MAKE the same mistake, you gave yourself a better chance of Success.
Bear with me but read this TRUE Story.
I know a Singaporean Auntie who is a round 50 years old.
She know about the Fashion Trend in Singapore and everything about Branded Bag to Shoes.
She currently have a younger Malaysian boyfriend who is 40 years old.
The last time i saw this Auntie, she had bruises around her eyes.
She had them because she had a fight with her Malaysian Boyfriend's Vietnam Female Friend who message him at night.
Sound depressing right?
Let's look at the past:
"The Auntie is very pretty when she was young.
Her First boyfriend is a Jewelry Business Owner who drove a Sport Car and bought her many branded bag.
He passed on in a Car Accident before their Wedding Day.
She did not inherit anything from her Rich Boyfriend.
Her Second Boyfriend is a Low Income Person who passed on leaving her with 2 children. She marry him because she got pregnant when they were together.
Her Third Boyfriend Boyfriend is a divorced, with a Single Child.
They got married too.
She have a Third child with him but he turned to gambling and force her to run away with all her children.
Currently, all the children are now taken care by her relatives and she does not contact them often.
And now we are back to the Present which she have bruises from another fail relationship. "
What did we learn from the Auntie's Story?
1. Never depend on any Spouse. Unexpected thing can happen anytime, so we must be mindful and not resign ourselves to a fate of depending on another person to live on.
***We can only depend on ourselves for a proper life.
2. Never make a mistake of getting Pregnant and resign yourself to marry a guy who might not be able to take care of you.
Don't get me wrong. I am not saying Low Income or Average Income is no Good. I am Saying having a child needs planning, especially in Singapore.
***Being a Single Parent is never easy and it is even worst when you are a Single Mum without marrying.
3. If I am the Auntie, I would choose to be more independent when I am young and to FOCUS on my OBJECTIVE.
What would be my OBJECTIVE?
a. Get out of a life that depends on other people. I want to be INDEPENDENT!
b. Focus on creating a Good Career rather then thinking about LOVE and Relationship all the time. All this can come later when you are successful, if you don;t get the Relationship at a later stage, you are still SUCCESSFUL!
c. Save for a Rainy Day and Save with a PLAN!
It is never about Saving $100K or $200k. It is about HOW you use the money to grow your wealth or provide a Shelter for yourself with a PEACE OF MIND.
d. Never let other PEOPLE handle your Hard Earned money.
There is no such thing as EASY money.
There are many people who blow horns, buy sports car, post Expensive Living Picture online but they DO NOT LAST most of the time.
e. Saving is the mother of all Investment!
Don't talk about investment if you do not fulfill your Basic Needs as follows
i. Your own HDB property.
ii. Hospitalization and Surgical Insurance Covered
iii. A GOOD STABLE income that give you prospect! This is where the hard work and effort comes in.
With the above points fulfill, then looking into investment for passive income is never too late.
It is good to invest small so any mistake in investment can be rectify with small losses.
f. Never never give up on ACTIVE CONSISTENT INCOME!
g. NEVER NEVER NEVER Earn the wrong type of money even if it is "GOOD" Money.
Why? These Good Money might come back to haunt you when you are successful or THEY will be the reason you will be a FAILURE for LIFE!
I have recently told a few friends never to dig a hole for themselves because We all make mistakes at times and the HOLE we dig will prevent us for climbing back up.
Please DO NOT let yourself DOWN!
Last but not least,
***Focus on Getting yourself OUT of the situation which is bringing you DOWN.
***Focus on Knowing the Right Kind of People who are really helping you and not giving you PROBLEM!
**Another way is to DIS ENGAGE from the WRONG KIND of Friend who might bring you trouble in the future.
**Please bear in mind, there might not be bad people and they might not have intentionally wanted to DRAG you down with them but it is the SITUATION that you expose yourself too. aka DIG A HOLE FOR YOURSELF.
NO ONE OWE US A LIVING!
We have to depend on ourselves to be Successful and that is to Learn from Success People, Avoid TERRIBLE Mistakes and Dis engage Friends who might ask you to help them do unlawful things or get you dragged innocently in to trouble when the police suspects and investigate you.
When you have no proof to prove yourself innocent, you will be found Guilty and Crying will never give you Another Chance.
Only by not putting yourself in such DIRE SITUATION, then you will receive PEACE OF MIND to achieve your SUCCESS!