Are you rich?

[Evildoer]

all in the mindset...a grain of rich can feed an ant, but not a bigger animal... qn is are u contented with wat u hav??? financially rich pple may not b happi, happi ppl may not be rich finanicailly

Edited January 4, 2007 by Evildoer

[Stary]

[qoute]

When I saw the mkt pick up mid last year, did consider going in but decided to hold back. I remember read somewhere : "when everyone buying, u dun buy. when everyone selling, u start to buy and keep." My intention for the FD is when market crash, economy recession, when STI drop to below 2000, many jobs loss, many pple wana jump down from high rise bldg after losing in shares, then use this $$ to buy some blue chips stock.

 

I admit i miss the boat but then after some painful experiences, I told myself I rather miss it then to catch it at a high. I know I might be too careful but just wana play it safe. I dunno, still very green in financial investment. Only last month start to read up abit and went into one forum - Sharejunction - to try and know a little more.

 

I have few friends who are pretty investment savvy, do fulltime trading on their own. Wife did say ask them which one good to buy but I dun wana loss the friendship so decide to do some homework on my own. But must admit tough as mi an idoit when come to all these.

 

Btw, do you think its good to wait till the next round of recession then buy and hold? will go to your forum and do some research.

 

Thanks

 

Bro, if you have a long term plan and a proper asset allocation, there is no need to worry when the market is high or low. If you go to site like Sharejunction, shareinvestors, etc....all you learn is how to speculate and all the rumours; that's not investing.

 

Proper investing require a disipline plan which is set out based on your investment timeline and your current fincances. Once that is set, you stick to it monthly and just ignore all the market noises. No one has the time to monitor the stock market closely, so that's the best way to go. If you have time to monitor, analyse companies yourself, then of course you can try to speculate a bit here and there. But we do that using only fun money...not money meant for retirement.

 

Yes, I know the temptation of doing trading full time but the fact is, it is one the most difficult job in the world. You only hear them making money and all that, but 80% of starting day-traders fail. To succeed in this line, you need to do a lot of homework after market close, plan your strategy the next day, plan your entry and exit, and most difficult of all, watch your emotions. To do this day in day out could require a tremendous amount of disiplinary effort and there is no gurantee you will make it. So don't envy them. I been there myself and I know doing a 9-5 job is far easier than doing trading.

[Humsuplou]

Inferiority Complex is a big word...

 

if you can overcome that ...nothing is more important than being with your loved ones.

[Genie47]

My trader friends all have white hair at a young age. I guess handling other people's money as well as yours makes you age pretty fast.

[Wonsim]

good for you to start some small biz. Wish you all the best.

 

just 5 years ago, I was in deep financial sxxt. work in big MNC but like yours, pay sucks. My ride was 8 years old dunno how many hands swift and the monthly installment of 600+ already draining me. But no choice as job required me to drive. every month on top of car loan and housing loan, also own cashline around 5k+, still must give parent allowance etc. damn siong.

 

Only when I started my own biz part time then I see good $$ come in. However, biz slow down very badly these days due to the weakening of US dollar, and so getting a little worried too.

[Genie47]

But we do that using only fun money...not money meant for retirement.

Soon we will have IRs for this. No need gamble so big.

[Hiphiphoray]

Life is much more than $$$$$. Its a combination of many factors. Your situation is consider very good. Cos im 2 yrs older than u and only reach 50% of your comfort level.

 

But things are moving along fine.....and as long as i have a stable job, good wife and kid. 1 more coming soon. Im happy. You should too.

[Superblackbox]

hi gravestone. sorry to hear about yur case...yes u r right. life is very unpredictable.

It takes a min to change a person's life.. as wht other old ppl told me.

But u can think this way too. Yurs is nt the worst case i know. Least due to circumstance yurs is cause by humans. Other lost thier loves one which only GOD has control. I m sure you LOVE yur kid. Least you can see your kid.Others might not have a chance at all.

 

I have handle many case of divorce when they sell their flats.Its the kid and thier money accounts that suffer.No offence bro.All i can say is this is the start of a new chapter of your life. All the best for your for 2007 bro..

[Damian]

r were rite abt this one...nowadays there are a lots of young chups who are earning $10k-$15k a month...In this modern edge...gone are the days when u will have a bright future with rewarding career if you have your paper qualification...it is getting too common...

 

Can you imagine an 'N' level holder earning $50k a month almost same as or more than a CEO of a company...without the stress that a CEO has? Tats my friend lo...

 

Sadly to say many pple are still skeptical abt network marketing...i guess will have to wait till 2008 liao...when things become completely clear...

[Damian]

u were right bro...and tats why i took the risk of my trade...

Do something when most pple think its not practical,not beneficial enough,difficult to handle...and u will succeed faster than others...

 

Anyway, tats how all rich pple think....THINK BIG AND FAR...you can also say they are idiots...

[Flight_skoda]

Thanks bro Starry, was thinking hard about ABF as well. Will search through the threads again. Have to invest wisely to build up my savings.

 

 

Bro Wonsim,

 

I am not rich .. rather poor in fact.

 

Am also in my early 30s - job and company are both stable. I have 10 years of direct experience and a MBA but still being paid at least 25% below market for myself. Bonus kinda sucks in my opinion and I have had better despite me covering a regional role across APAC. Also being in the financial sector, I am very disappointed with my overall total compensation. If I compare to my hi-flying peers, I am nowhere near them as such my comparison is always with 50%ile of market value so as to keep my expectations realistic.

 

All in all, guess I wouldn't be long in this company and am currently exploring around the investment banks or wholesale banks. However, I will not jump ship blindly. Meanwhile, back to the investment board.

Edited January 4, 2007 by Flight_skoda

[Karoon]

Inferiority Complex is a big word...

 

if you can overcome that ...nothing is more important than being with your loved ones.

 

i don't think mine is a case of inferiority complex...

 

more a feeling of injustice.... putting in as much effort as anyone else but not seeing the dividends

[Vit4wd]

There will be no end to such comparisons.

 

So long as you are fit and healthy and all your body parts and organs are functioning well, and you can earn a decent living living, that is good enough.

 

Remember, HEALTH IS WEALTH

 

You can have all the money in this world but if you keep having to visit the hospital or have limited time left in this world, what is the use of all the money that you have?

[Panda]

but you forgot, what good is all the health when you have to work your arse off just to keep a decent living?

[Vit4wd]

Tell me, in which country does one NOT need to work his arse off to earn a decent living?

 

Is there a better alternative than Singapore?

[Nighthawkcity]

No offense to the opposite sex, but a woman has to be bitchy to be rich.

 

Guys need some technical skills to maintain their career to an extent, but you don't really see that happening in a woman's career.

 

Just up her bitchiness a few notches and she'll end up on a higher level liao.

 

Might expect lots of flaming but just voicing out my thoughts....

 

 

not wrong.. I'm joining u on your side to get flamed.. haha

seen quite a few busty/beautiful female getting promoted without knowing what they are doing..

 

of course, some are with capabilites lar.. but beauty can get u an accerated progress..

Edited January 4, 2007 by Nighthawkcity

[Dermocyma]

"I admit i miss the boat but then after some painful experiences, I told myself I rather miss it then to catch it at a high. I know I might be too careful but just wana play it safe. I dunno, still very green in financial investment. Only last month start to read up abit and went into one forum - Sharejunction - to try and know a little more."

 

hope u dont mind me adding some points wrt above.

 

investment, especially shares, and its yield are subjective (boring to some) and not for everyone. most hold long position and afterwhich they hope for a high aggregated yield or dividend (if any) over some period of time. buying shares with no leverage (eg. 1-for-1 cash) is not effective in terms of making $. (though the risk is higher)

 

there is no good or bad times. its how to play the game that matters. good $ can be made in bad times too. eg. EUR/USD GBP/USD lately. if u've got big risk appetite and mentally strong, can consider ELN, CFD, FX or maybe conservative DCP. alternatively, can also consider $ with some hedge funds eg. man financials hedge fund. so far its 10yr 140% yield fund is doing pretty well for the 2 first yr. just a suggestion.

 

btw. i thought i read somewhere that u have USD asset classes or business?

Edited January 4, 2007 by Dermocyma

[Elixir]

I think you are refering to that article in Sunday Times where the young are earning lots of money but they are all from Investment companies or banks like tradrs or something. HOnestly, my person feeling is I am jealous but its just a flash because I kind of know something.

 

The newspapers ALWAYS ALWAYS says the good things. Singapore wants to encourage entreprenurships so newspapers or raido ALWAYS shows ALL THE good companies stuff, how well these entreprenurs are doing, how much they and their companies are doing. No matter big companies or SMEs, all show.....but among ALL THESE so called successful business....and succesful high flyers people, how many have fail?

 

Have you counted how many CEO awards have they given out? its crazy.

 

Out of 10, maybe 8 have failed but do we know their stories, no. Why? because you are supposed to encourage people to try, success---> story come out, not succesful ,you better hide somewhere because in Singapore you cannot fail. I can only think of one failed person that is the 庄盈盈 boss of former 1.99 shops even though now she also earning big bucks using her failure as a talker, motivational and sharing her business experience.

 

I do feel imbalanced, occassionally when i read such articles. I also work hard, got a good degree why not earning the same as them? But you really really cannot compare because none of us have exactly the same steps in our life. Its all about 天时, 地利, 人合 except those born with a silver or diamond, those you can ask them go f**K spider. (recently i just heard a conversations between 2 guys late 20s i think, in the gym, talking something like 'YA, my fren hor, he got a Lexus already, he ONLY buy the lotus to compare the differece only hhahahhahAHAHAA) This kind of people, should inject with them with HIV virus and dump them in Ethopia.

 

But there many such people around...how much vinegar can we eat leh? 太阳底下什么人都有的, what I learn and keep telling myself is that

 

'Don't trust everything you see or read'

 

Don't trust the media, the newspapers, the radio, your friend's friend's friendsssss etc Unless you got all the facts and details, see it with yourself, how much these people get their money, what kind of life do they exactly live before coming to a conclusion.

 

From what I see, you have a good life, organized and well-planned. A happy family is a wealthy family. Tuesday I just went to the zoo with my sis, bro-in-law and my mum. Spent less than a $100, happiness index? 300% for all of us. I also keep telling myself (because I am a easily swayed/affected person) that we need to enjoy what we have not keep trying to get that what we want especially money, car all the material wants, its never ending one i tell you.....

 

Not that Im not career ambitous but I need to plan my own steps and not follow behind the other person's shadow. Yes, I might not earn as much as you but I will make sure my life is also a fulfilled one. I have my own measuring tape thank you, don't use yours to measure me. I also trying hard not to exchange that tape also....

 

You are doing fine lah..all you need is a visit to Cambodia or Thailand (not Bangkok hor, bkk is not thailand) and you will realise how fortunate Singaporeans. SOme of my frens they like to compare with westerners, like to live the life of Americans, yeah, or Europeans yes (so potato), I am glad I have the opportunity to work in both developed and 3rd , 4th world countries....because sometimes you need to strike a balance and by balance i mean compare with those that are worse off than you BUT it doesn't mean you shouldn't work harder or earn more but strike a balance even in your thoughts, thats all.....