Friday, February 8, 2013

A 2nd Published Article on Yahoo - "6 Simple Steps to Wealth"

First of all, I would like to thank MoneyMatters for the editing and publishing of my article.

My article on "6 Simple Steps to Wealth" was published on yahoo this week (Click Link Here). Not surprisingly, everytime I read an article on yahoo that are related to some Singapore news, the people who commented on it would always be negative and relay the blame to the PAP govenrment for each and every single matter that comes out of it. It is as if all that has happened to them thus far (whether good or bad) is not their fault. The simple message to them was the government HAS to take care of them. As long as the PAP is around, these people can NEVER get enough salaries, they can NEVER save and they can NEVER be rich. That is the bottomline.
To me, I feel it is with such naiveity that these people think like that. Sure the government may not be perfect and the policies imposed may not have benefited these people. But to put the blame simply on the government is like simply failing an exam when you did not study well for it and yet blame your luck on that day.
Most of the people think that they are not getting enough salaries, are not able to get a decent job that pays well and they can't save enough for their rainy days. I feel all of these can be handled well if you make a decent planning ahead. For instance in my case, my expenses for the month are usually in the range of $500 to $1000. Well, to be fair, I am currently single and live with my parents and so I am able to save on the rental and utilities expenses, which perhaps is the biggest expenses for anyone. But what if you are not single? What if you are married with 2 kids? What if your health is poor? etc, etc.
To me, it is all down to good planning planning and planning. There's a reason why all companies did their budgeting plan well ahead before the new financial year hits. You can too while you are young and single. My advice to all singles out there is save as much as you can whilst you are still young and single. If you feel that you are not ready for a family whether financially or mentally, don't get married and have the burden on yourself, your wife and your children and regret. Plan your schedule ahead accordingly. I remember reading an article about a Singaporean family whose monthly household income is only $1,800 and the couples have 6 children in the family. To me, it is simply down to improper planning. Would you rather have fewer children whom you can give nothing but the best education, the best food, the best care and concern or more children but live and eat poorly?


  1. Too many steps I think, so many already lost in your 6 kung fu steps.

    Have a defence : insurance, healthy lifestyle, spend less and save at least 10% of income
    Midfield : protect your job, upgrade yourself, learn from wise men, beware of conmen
    Strikers : Invest for passive income

    Like a soccer team, hardest to get superb strikers which may determine how rich you can become. A solid goalkeeper also vital.

    1. Hi Financialray

      Are you a soccer fans? :D

      Like what you said, a good soccer team must have a good goalkeepers, defence, midfield, strikers and bench players. If any of them are compromised, then your path to financial freedom may also be compromised one way or another.