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, building net worth and retirement matters




Starting age on finance education

Citibank Lazada Credit Card, Free $150 Lazada Vouchers* - Click to Apply Now
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.



SG Bus Timing App
SG Bus Timing App - the best bus app - available on iPhone


SGX Stocks Android App - check share prices
SGX Stocks [Android] App - check latest share prices on the go


SGX Stocks for iPad - check latest Singapore share prices
SGX Stocks [iPad] app
| SGX Stocks [iPhone] app
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
Queries about Cpib application ( 1 2 3... Last Page)
1,075 Replies, 496,552 Views
Lawyer Salary ( 1 2 3... Last Page)
7,307 Replies, 2,565,579 Views
Feeling helpless, need advice...
5 Replies, 258 Views
Salary range for MX11a in Ministry
9 Replies, 990 Views
SIM-UOL fresh grad starting pay ( 1 2 3... Last Page)
3,059 Replies, 1,281,859 Views
Compare civil service salary ( 1 2 3... Last Page)
10,045 Replies, 5,558,266 Views
DBS Management Associate Program... ( 1 2 3... Last Page)
1,597 Replies, 261,587 Views
All about Home Affairs Senior... ( 1 2 3... Last Page)
175 Replies, 172,471 Views
ST Electronics ( 1 2 3... Last Page)
650 Replies, 207,405 Views
anyone working at NCS ? ( 1 2 3... Last Page)
382 Replies, 284,543 Views
Roles in accenture singapore ( 1 2 3... Last Page)
365 Replies, 248,517 Views
Anyone jobless for a long time... ( 1 2 3... Last Page)
2,881 Replies, 1,078,056 Views
Job offer from Apple ( 1 2 3... Last Page)
461 Replies, 87,172 Views
How is life as a doctor in... ( 1 2 3... Last Page)
1,275 Replies, 902,548 Views
Our Poll Results: 45% Fresh... ( 1 2 3... Last Page)
48 Replies, 22,189 Views
Civil Svc/ Statboard - Typical... ( 1 2 3... Last Page)
2,172 Replies, 961,133 Views
Self-Employed in SG by Overseas...
1 Replies, 128 Views
What's the graduate officer... ( 1 2 3... Last Page)
45 Replies, 11,644 Views
What house should I buy after... ( 1 2 3)
22 Replies, 9,376 Views
MINDEF DXO (All FAQ on it) ( 1 2 3... Last Page)
3,282 Replies, 1,896,724 Views
Asking for salary advice in IT ( 1 2 3... Last Page)
56 Replies, 2,780 Views
Civil engineering pay
2 Replies, 373 Views
How Much Do You Need to Earn... ( 1 2 3... Last Page)
38 Replies, 16,355 Views
Commercial Affairs Officer ( 1 2 3... Last Page)
106 Replies, 81,336 Views
Sign On After 30? ( 1 2 3... Last Page)
30 Replies, 2,353 Views
[advice] Recruitment agency... ( 1 2)
12 Replies, 1,595 Views
AML/Compliance/KYC professionals... ( 1 2 3... Last Page)
1,377 Replies, 562,816 Views
Working in HDB ( 1 2 3... Last Page)
331 Replies, 261,889 Views
Whats your net worth ( 1 2 3... Last Page)
2,720 Replies, 790,259 Views
Advice regarding finance...
7 Replies, 2,825 Views
Powered by vBadvanced CMPS v3.2.2



All times are GMT +8. The time now is 02:02 PM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2020, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.3.2