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  #1006 (permalink)  
Old 01-11-2015, 09:40 PM
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Hello typical freshie,

Here are some hard facts of life.

1. Saving alone does not make a person wealthy. You need to make those saved money work! And the harder you worked them, the more rewards you will reap.

2. People said its not how much you earn but how much you save. This is only true to a certain extent. To save big, you really need to earn big. This can come from having a high salary or a combination of good salary and investment returns.

3. You will not be young forever. So, while you are living frugally saving those pennies, don't ever let life pass you by. You will be surprised how fast time flies by. If your friends want a better lifestyle and they worked hard for it, they may be the wise ones at the end of the day.

4. Many times in life you need to take calculated risks. This is certainly true in investing. When there is uncertainty and fear, there is opportunity. A few of us capitalized on the 2008/09 global financial crisis by picking up stocks when there was wide spread feeling of gloom and doom. Keep this in mind for the next crisis to come along.

5. Don't envy those who are successful. Instead aim to be better than them. This will spur you to think of better ways to do things and invest.

I came from a poor family and the initial years were tough. My desires to ensure my family and children have a better life than me have kept me going and working hard. Without investing, I don't think we could have achieved what we have today, just from our salaries alone. Today our passive income from investment alone is enough to cover our expenses of $120k pa.

Originally Posted by Typical Freshie View Post
Hello all!

Typical Freshie @ 25 years in mortal world
Banking: 64k (after bonus)
Money: 3.5k
Stocks: 25k
Bond: 2k (one retail ungraded bond)
Cpf: 8.7k (just graduated almost a year back)

Liabilities: 0 (no car, bto, maid)
Direct expenses: 0.5k to parent at least

Peers are in hefty mortgages in EC, PC or Mickey Mouse. I simply cannot bear the risk of negative valuation when crisis hit. Residence should be conservative while excess goes to investment properties. I saw them trying to keep with Jones but steer clear.

Additional information for me, I've packed lunches to work, drink water and indulge in coffeeshops/fastfood chains as lavish expenditure. No, I don't bother competing and some mock behind my back. My purpose here is not to be sarcastic but without inheritance or whatsoever, just keep low profile and you'll reap the fruits of labor.
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