Welcome to Rick's personal blog..
If u are eying on any of my possessions, sorry it's not for sale. Exclusively mine!!!
A giant step into a new phase of life
Gone were the days when i can forget all the worries of life and lead a carefree student lifestyle. After 3 good years of education in NTU, I manage to graduate with a decent degree with honours. Puzzled, resistant and lost about what to do next, i venture to search for the job that suits me the most. Will i be like the traditional undergraduate with a banking and finance degreee to pursue a career with any reputable banks and slog my way for the next 3 years.... 5years.... 10 years.... Damn forever. I cannot deny the prestige that comes with having a bank job, for most of the general public would view the profession as stable, full of opportunities and lots of challenges.
The life of many in this little red dot on the world map can be picture as running a marathon where one have no idea where and when he will step pass the finishing line. The raising living standards, increase inflation and projected positive GDP growth in SG pushes middle income citizen beyond imagineable circumstances. The new generations of young working adults, steer by the influence of peers or by nature of their family background, tend to lead a lifestyle which involves pretty much everything to do with labels. Just take a look on the street, how many young working ladies are carrying their favorite LV/Gucci/Chanel handbag to work. It not as though they cost 10%-20% of your monthly paycheck, they cost a freaking 1000-3000SGD. And for the record, branded handbags are not just for bankers or senior managers, even people working for an administrative position desire for one. Ask a lady how many of the many desires they have turned to possession, you will be amazed/perturbed/impressed by the statistic. I'm not saying that people can't have desires or wants, it will be quite boring if one has the resources to own it but is restricted by self discipline. Many a times discipline is one traits that makes people's dream a reality. Discipline can come in terms of allocating a certain amount of undisturbed time to fulfil their work requirement, discipline to maintain one's investment objective, discipline to work with the budget plan out for the month and also discipline to save. Having mention a mouthful of what some of the disciplines one does in life, i will like to focus on "Discipline to save".
Why is it a common sight to see loads of people queueing outside the banks on weekends or even weekdays. People are periodically putting money into the bank and withdrawing when needed. I see, people are willing to spend 30mins or more during peak hours to shift money from their bank to their pocket or vice versa. What will become of the stagnant/unused money residing in your favourite bank? It's not as though Singapore bank interest rates is as high as what Australian banks are offering to their local counterparts. Let's put it this way, suppose the money you have surplus after setting aside money for emergency funds, what will become of this surplus by the end of 10 years? Imagine this, you have a piece of 10,000 note, as years gone by, the note starts to erode by itself. FIrst the edges, then to the centerpiece. Would one be happy to see that what is left from putting the money in the safest place on this planet turns out to be worth probably 8k-9k depending on the inflation rate? Singaporeans are really pleasing the bank too much in this sense, they give u peanuts but on their hand, their earn some freakingly huge abalone. Opportunities often manifest itself with those that could envision and make calculated judgement. People always say, the govt is helping the rich to the extend that we often hear this familiar saying " the rich will get richer ". Well if a middle income household sit there and do nothing about investments, they have just enrol themselves into the rat race.
Weeeeellll. According to Singstats from what i remember after doing a project 1 years back, about 45-50 percent of Singaporeans fall into the category of middle income household. And just by looking at the middle income households, there are brackets to segregate them into middle lower, middle higher and middle. My vision here is to help people from the middle lower and middle income households to achieve where they could possibly in by the time they reached golden years. It's going to be challenging but not impossible. With prudence and the right receipe to investment and savings, you are one step closer to changing your family lifestyle, not for the worst but for the better. I'm embarking on a amazing career offering clients the most objective, unbias research based recommendation that solely represents the client's interest. What name do they give for such a career? IFA.. which stands for Independent Financial Advisory.
"A man who established a mission is more likely to complete it compared to one who leaves everything to fate and mere coincidences"
posted @ 8:52:00 PM
