Starting age on finance education - Salary.sg Forums
Salary.sg Forums  

Go Back   Salary.sg Forums > The Salary.sg Discussion Forums: > Investments and Net Worth

Investments and Net Worth Talk all about money making exploits, shares, property and building net worth




Starting age on finance education

Reply
 
Thread Tools
  #1 (permalink)  
Old 24-11-2011, 05:47 PM
Junior Member
 
Join Date: Nov 2011
Posts: 8
larry is on a distinguished road
Default Starting age on finance education

Hi people,

When did you rich guys start your financial education e.g. investments? I am appalled that most of my friends do not have have any investments/finance education at all, they usually follow their parents' method (put in banks). I also only just started learning about it after I hit 27yrs old this year. And unlike ppl like adam khoo, warren buffett, who all started when they were just kids.

Reply With Quote
  #2 (permalink)  
Old 24-11-2011, 06:16 PM
WiredJustice
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by larry View Post
Hi people,

When did you rich guys start your financial education e.g. investments? I am appalled that most of my friends do not have have any investments/finance education at all, they usually follow their parents' method (put in banks). I also only just started learning about it after I hit 27yrs old this year. And unlike ppl like adam khoo, warren buffett, who all started when they were just kids.
You seem to be assuming that rich people mostly get rich by getting investment knowledge as early as possible. Truth is most high net worth people got there by either being in business, climbing the corporate ladder aggressively and holding a highly paid corporate job or engaged in heavy real estate speculation.

I really doubt you can truly get rich by just being an average joe employee with personal investment technics. Financially secure enough to retire earlier and comfortably yes, but getting really rich, I don’t think so.

Among your examples, Warren Buffet is a businessman who is an expert on the insurance industry and an M&A master of closely held businesses at bargain prices by bringing certain unique value propositions to their ex-owners.

Adam Khoo came from a rich family and peddles his “humble beginnings” as part of his marketing self-help shtick and he sure did not get the bulk of his wealth from investments - he is a through and through business entrepreneur. I doubt these two are good examples for comparison for an average retail investor.

I am not against gaining learning good money sense earlier, but just don't kid yourself that this is the path to riches. At best it can supplement, but definitely shouldn't be the primary wealth driver.

Reply With Quote
  #3 (permalink)  
Old 25-11-2011, 09:44 AM
Unregistered
Guest
 
Posts: n/a
Default

Agree +1 above.

Also keeping money in FD is not necessary a sign of financial illiteracy. At times, it makes much more sense to keep cash than investing.

Reply With Quote
  #4 (permalink)  
Old 25-11-2011, 09:48 AM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Unregistered View Post
Agree +1 above.

Also keeping money in FD is not necessary a sign of financial illiteracy. At times, it makes much more sense to keep cash than investing.
I'm keeping 50% of my total wealth in cash now.
Reply With Quote
  #5 (permalink)  
Old 26-11-2011, 11:55 AM
Millionaire Member
 
Join Date: Sep 2011
Posts: 275
Hermit is on a distinguished road
Default

I do not expect my teenage son to be a Warren Buffett but since he was about 8 years old I share with him news article and TV reports about what is going on in the world and in Singapore where money and finance is concerned. This world is getting really interconnected and I believe everyone should read and listen more. Life is becoming more complicated and harder for the guy on the street to understand...
Reply With Quote
Reply

Bookmarks

« Previous Thread | Next Thread »
Thread Tools

Posting Rules
You may not post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are On
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Career in pre-school education Nik Income and Jobs 1 31-07-2011 11:23 PM
More education, better job opportunities? curryrice Income and Jobs 14 05-02-2011 12:23 AM
More education, better job opportunities? curryrice Education and Personal Growth 7 30-12-2010 07:39 PM
Finance or Engineering? momojojo Education and Personal Growth 7 21-07-2009 06:19 PM
Banking and Finance Jobs Preferred Salary.sg Income and Jobs 1 11-01-2008 02:02 AM

» 30 Recent Threads
OCBC Graduate Talent Programme... ( 1 2 3... Last Page)
527 Replies, 152,312 Views
UOB Management Associate Program ( 1 2 3... Last Page)
386 Replies, 209,661 Views
Compare civil service salary ( 1 2 3... Last Page)
11,213 Replies, 6,246,999 Views
SIA Technical Services / Aerospace... ( 1 2)
10 Replies, 9,453 Views
Singtel Management Associate... ( 1 2 3... Last Page)
181 Replies, 105,622 Views
ST Electronics ( 1 2 3... Last Page)
1,312 Replies, 323,305 Views
Comp Science Frsh Grad Salary ( 1 2 3... Last Page)
526 Replies, 18,071 Views
Career as Teacher ( 1 2 3... Last Page)
3,028 Replies, 1,899,910 Views
Lawyer Salary ( 1 2 3... Last Page)
10,044 Replies, 3,364,966 Views
Aircraft Maintenance License and... ( 1 2 3... Last Page)
646 Replies, 481,804 Views
How much are you earning per annum? ( 1 2 3... Last Page)
12,137 Replies, 3,951,681 Views
Career of an ERP consultant
2 Replies, 130 Views
Working in HDB ( 1 2 3... Last Page)
369 Replies, 295,926 Views
Starting Pay for CS/Ministries... ( 1 2 3... Last Page)
190 Replies, 54,414 Views
Cybersecurity/Info security career ( 1 2 3)
21 Replies, 3,417 Views
MINDEF DXO (All FAQ on it) ( 1 2 3... Last Page)
3,573 Replies, 2,123,726 Views
Q: Big4 - Yearly salary increment ( 1 2 3... Last Page)
1,126 Replies, 872,984 Views
How much does influencers make...
6 Replies, 751 Views
Where would you invest your money... ( 1 2 3)
28 Replies, 17,206 Views
Advice for a troubled Designer ( 1 2)
14 Replies, 5,131 Views
Third Class Honours/Second Lower... ( 1 2 3... Last Page)
43 Replies, 28,342 Views
SIM-UOL fresh grad starting pay ( 1 2 3... Last Page)
4,071 Replies, 1,408,887 Views
Covid-related job opportunities... ( 1 2)
15 Replies, 959 Views
IRAS salary
3 Replies, 201 Views
Salaries for Tech Product Manager
6 Replies, 2,329 Views
How is life as a doctor in... ( 1 2 3... Last Page)
1,704 Replies, 1,061,270 Views
JP Morgan ( 1 2 3... Last Page)
47 Replies, 27,285 Views
DBS tech seed programme ( 1 2 3... Last Page)
241 Replies, 39,309 Views
Salary working for SEA FP&A... ( 1 2)
18 Replies, 6,825 Views
Powered by vBadvanced CMPS v3.2.2



All times are GMT +8. The time now is 06:28 PM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2021, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.3.2