A New Chinese New Year

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A New CNY

A year has passed and the fight with Covid-19 is still ongoing today. The biggest festive of the year is coming in February 2021 – The Chinese Lunar New Year. How great things are going to be for the upcoming event. With a max of 8 pax per household, things will change for a while now. Zoom meetings are going to happen more instead of the usual activity.

Inside me, there is a little me shouting out in joy. To a certain extent, I dread those meetings with some of my extended families so it is indeed a relief for me and also less hassle for my family. 2021 is going to be a good year, as it is always when there is a new start. I get a lot of comments about giving out ang pows during CNY all the time. Frankly, the bulk of those good luck money goes to my family (Really close ones) That makes up about 80-85% of the budget? roughly. The balance 15% goes to friends and extended family so it isn’t really that bad.

Festive Season Again

The last few years has been great and I felt like I do enjoy the festive celebrating with my real and close and extended family. Now the reason for bringing CNY up is that usually it takes us one month in terms of preparation. The washing, cleaning up and preparing new notes. I think that for this year, many things will change including how I hand out the good luck ang pows. (Red Packets)

There is something which I would like to address though. The idea of red packets has been misconstrued for such a long time. Generally kids would enjoy this period since it funds their “wants” but my views about giving is that you should not be pressured into giving more in your red packets than you actually can afford. I can understand that kind of pressure sometimes but it defeats the purpose of giving.

Like many wedding red packets, there is a standard but is there really a need for a standard. It is good to know but it should still be a level of affordability as well. I mean I do understand that it is good to know what is the market rate but to understand that it is a matter of affordability to some, it might have been overlooked to a certain extent.

Objective

The objective of passing a red packet to someone younger is to wish them well. If you wish to, you may also extend that red packet to someone who is elderly. The amount should not matter that much, instead the intention and thought is what matters. Maybe many beg to differ but that isn’t really a correct or wrong way to do this.

The purpose to give a red packet follows a well wish depending on what one would want to wish for:

  • Good Luck
  • Happiness
  • Prosperity
  • Fresh Start
  • Health
  • Education
  • Promotion and Good Career

However if you really want to know the market rate, Seedly has a write-up here: https://blog.seedly.sg/chinese-new-year-cny-ang-pao-red-packet-guide/

As I have always been advocating, don’t always look for the “Best”. A guide is always good but it warps the conception and mindset once you have taken that look. Well, I can’t speak for everyone but I definitely can’t erase what I have seen once I see a sample or a blueprint or a guide.

Disclaimer

Whatever I blog about is purely my own opinion. If you like what you are seeing, do remember to check they out and do your diligence. For me, it is always about the whole package. Like minded people can flock together to create good and powerful things.

If you like what I am sharing or if it resonates with you, do check out my shop or drop me a note here at https://lifejourney.blog/contact/

Thank you in advance for the support.

The pictures were taken from the respective websites for this article.

2020 – The Year in Review

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2020 is going on by quickly as with any other year. Especially this  year, with the Covid-19 announced as a pandemic. The world went into a global communism, shutting off the doors everywhere quickly. It feels like Industrial Revolution version 0.0 but yet you have technology that kind of connects you with the rest of the world as well. What makes it different is that some industry do well, some medium, some would benefit in the longer term. Irrelevant businesses would eventually shut down while new ideas continue to grow in the market.

Looking back there have been some hits and misses and while things didn’t shape up nicely. The year ended off with a small little cheer that can light up our faces.

There are some segments I would like to focus on in review. That would help me to understand what I have done right, do better or not to do at all. This very blog started on the basis of money matters and personal finance – This shall be the basis of the review. Christmas and the New Year is coming and so I would also like to wish everyone a Happy Holidays. I am for once looking forward to the coming year and for a great 2021!

Thank you everyone who reads my blog or thinks that it is worth looking at. I am humbled by anyone who actually stumble or read what I have penned down online. Hopefully, the coming year would see some interesting moments for my blog or perhaps even more interesting concepts.

Money Decision

The Good

  • The decision to enter the market during the market dips in March 2020.
  • The decision to divest funds into StashAway, Endowus, Syfe, MoneyOwl and Autowealth. This has proven to be an asset for the long term.
  • Full contribution to the SA account for both Tax Rebate and Retirement Fund in CPF.
  • Usual contribution to SRS account which supplements the Retirement Funds.

The Bad

  • Didn’t save as much as I wanted due to a lot expenses. Staying at home also meant that there were more expenses for food deliveries.
  • Celebrations were a little more elaborate due to the covid. More shopping and gifting at home since there wasn’t any travelling that can be done in the next year or so. Which I kind of miss and it has been taken granted for.
  • Not too sure if it is actually is a good or bad thing that Covid hits the business. We are actually pretty resilient to the situation.

Mental Health

The Good

  • It has been pretty refreshing to work from home. After 3 months of working from home, things have been turning rather boring but it is family bonding indeed.
  • It is actually better to avoid a lot of negativity in some offices. Luckily for me, I don’t have that issue but it kind of helped for the family mentally.
  • Work has more flexibility and there isn’t that much of a rush so it helps me generally.

The Bad

  • It became kind of stressful with the wife and kids and in laws.
  • Working from Home became both good and bad because it has become rather boring where I miss the hustle and bustle of communicating with colleagues and networking with new friends.
  • There are no limits to when working hours end so I can keep on working throughout which isn’t that great. My place of relax now becomes a place where I need to focus and work.

Fitness

The Good

  • Definitely more time to do more crunches and jogs.
  • A change in lifestyle and a change in diet.
  • Exercising is actually an individual sport. Group exercising are sometimes counter intuitive.

The Bad

  • The diet and exercising kind of slowly died off and I see myself seeking more new ideas to be more active.
  • The holiday weight doesn’t help so I need to work harder to stay focus.
  • Group games are pretty impossible now so less options to stay in better shape.

Summary

The Good

  • Finally, after procrastination for years. I decided to put in the effort to pen down and build a personal finance blog. How far will I go? I don’t know but due to the Covid situation, I took some time during the wee-hours of the morning when I could not sleep to build in some hosting, webpage, WordPress setup and finally writing articles which I think people might like to read about.
  • I would like to thank those readers who picked up my codes for the services that I use. Hopefully, these services will bring the same level of expectation that I already have since I have been using them for a while now.

The Bad

  • I am still deciding whether I should attempt to write a book. A simple and funny one. It’s just to figure new projects to work out on.
  • A long-term objective is to explore alternative income/passive income
  • I’m still in the infant stage of this personal finance blog. The growth rate isn’t quite what i expected but hey I’m still learning and exploring so I’ll keep trying.

Conclusion

I decided against looking at winners and losers in the equity markets as time and again I have traded, won and lost. At least 3 or 4 cycles it happened. Using the right services to not let my emotions go wild or make irrational decision only to regret it later on. The focus of investing money should not just be money but also investing in yourself. There should also be time taken to upgrade ourselves, improve our own health and find out what matters to every individual.

Disclaimer

This is not a sponsored post. This is purely my own opinion after using their service and/or products. If you like what you are seeing, do remember to check they out and do your diligence. There is no one size fits all investment strategy.

If you like what I am sharing or if it resonates with you, do use my referral codes here at https://lifejourney.blog/contact/ for the services.

The pictures were taken from the websites for this article.

Being Angry for the things you have no control over. Does it help?

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There are many times when we are angry. Be it for the right or wrong reasons, there will be times where our own limits are being tested. Some people just cannot take it that they are wrong, that’s just more Alpha kind of folks. Some people are just generally angsty all the time. The slightest thing piss them off. However, when you are angry, who is it that is really affected? Are you venting to the person beside you though you are not angry at them? Or are you just shouting to yourself for someone else you are upset about?

The person whom you are shouting and angry about probably don’t even know. So, what is the point in getting angry. I get it, sometimes i need to let off some steam too but not all the time though. The other day, there was an angsty driver who couldn’t get on the main road because there were just too many cars. The other day, I heard someone banging the table downstairs while working from home. Shouting eventually came on and I could hear someone else shouting back.

Deep Thinking

That made me think a little deeper. When you are angry, the person who do not know you are angry at them. Should you really express it? Eventually, the question to ask is that if one can control their emotions. Not me I would say. I am human and I cannot control over worrying, being angry and also overthinking. I’ll say most of us tend to think that we are right but is that really true? Truth be told, that little arrogance sometime annoys me a little. All we need is just to keep our heads down, be humble and learn along the way. There will always be someone or something that is better than you.

Investing the same?

Similarly, your investment style differs. Emotions run wild in those events and each time you think that markets are coming off, you actually risk missing a chance to recover more than what you should have if you would have chose to do nothing.

The thing about personal finance is that whether one has just starting building your finances, middle stage of building your fund or at a late stage of taking on your retirement funds. Young, old, poor or rich in all categories – There is really no one size fits all and regardless if you are famous or not. There will be emotions involved in all situation.

Recently, I also fell ill and because of that I had to take some matters off my hand. At the same time, markets doesn’t care if you are ill or well and that kind of struck a chord that I need to do less of trading and more of passive investing. Looking back at some of the portfolios for 2020. All 4 robo-advisors returned double digits which is by far the best I have seen. Of course, trading returns have been the best returns for me but those are super high risks.

Robotic in Nature

The idea in letting someone trustworthy to manage your funds are hard to come by. Banks are driven by profits and their pockets matter more than what money you have. Even if they did, they would have another agenda. Nonetheless, the idea – You get it! Only services make revenues.

Convincing Strategy

I’ve been convinced by the way Endowus and StashAway have been working for me as a portfolio:

  • Fee wise it is always all inclusive.
  • ETFs or Fund investing has always been the way to invest regularly. They track index and replace those companies who underperform along the way.
  • In particular, Endowus provides that 100% trailer fee rebates. It is the best one I’ve seen so far to not take a dime that is not transparent to the consumer. On a side note, your funds are in your own name (invest and managed via UOB Kay Hian but through your own channel) If anything happens to Endowus, your money is safe in that sense.
  • Such portfolios are not timing the market and look further into the long term. You need to be disciplined in that manner.
  • I mean especially for Endowus, they charge you a small fee which keeps them running. They invest into some fund types which are institutional in nature. Layman, it means as a normal consumer – you probably could not access these funds.
    • Usually but not always, the so called “hidden fees” are reduced due to economies of scale (Institutional class – Imagine Sovereign wealth funds)
    • Special corporate classes which have a minimum to invest. By using Endowus, collectively as retail investors normal retailer investors can put their money in at a fraction of the cost.

Agree to Disagree

Some points I kind of read and agree but disagree:

  • Yes, I read and heard that you can mimic trades and portfolios but my question is that if you have the economies of scale. How big are your trades?
  • Forex Exchanges rates especially in USD. Can you really accept using another channel to make the exchange or accept the market rate in your brokerage?
  • Replacing and re-balancing your portfolio. I think time matters more to me than doing these stuff which is time consuming. There are people who love doing this and do not mind doing so. So, leave it to those who does the best in their jobs.

This image was taken off Seedly and taken as a reference. Frankly, minimal investment amount should be the last thing on your mind. Fees, rebates and what is the company trying to achieve should be the top priority.

Disclaimer

If you like what I am sharing or if it resonates with you, do use my referral codes for other services at https://lifejourney.blog/contact/

a. Use my Endowus referral link and both you and I will get $20 credit to our account: Endowus Robo-Advisor to sign up now.

b. Use my Stash Away referral code and both of us are entitled to a 6-month management fee waiver, for up to $10,000 SGD of assets invested. Visit Stash Away Referral here to sign up now.

Razer Pay – Digital Wallet and Card Beta

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Yet another Payment wallet once more. This is known as Razor Pay. This is also The Singaporean son, Tan Min Liang who famously wrote to our PM to suggest a proposal to unify payment solutions. It sounds more gimmick than ideal strategy when it was first published. Who doesn’t know him right? Then again, the speed at which solution was launched was so much slower than GovTech.

To get the Razer Pay app, apply through here: https://pay.razer.com/ and you may use my referral code 9iog2G. Both of us will receive a $1 credit to our wallets. In addition, that allow us to stand a chance to win a Razer Gaming Chair (worth $749.90).

After completing the Razer application and profile, you will probably get a Razer mask for free at the Razer Store. Not too sure if there is a delivery fee.

Razer Card (Beta)

For using the card beta, you will get:

a) 1% cashback on all purchases.

b) 10% cashback on purchases from Razer Store.

There is no minimum spend and no cashback cap during Card Beta. After Beta, we shall see how it goes.

Some perks here that includes getting the credit card rewards:

  • Using specific miles card, you can also get miles (If that still matters given the current situation

  • For now, you can still use the Razer card to top up YouTrip card so far. Shall use that to try to top up the BigPay card as well.

Rewards

From now till 31 Dec 2020, Razer is running attractive reward tasks and some of them are so easy to achieve that it is almost free money/gift. The value you see in getting these gifts depends on how you view these items are actually worth the time and money for. The four categories are Getting Started, Pay, Spend and Influence.

The final ultimate gifting is completing everything is that you will be rewarded with a Razer Iskur Gaming Chair (worth $749.90)

Conclusion

The Pros:

  • Works with some prepaid cards so you get the credit card rewards as well.
  • Withdrawal cannot be done. No ATM withdrawals at the moment.
  • For payments that doesn’t give a cashback, I guess this card comes in handy.
  • Rewards is based on the Razer Store and limited to the gamers. I’ll say it is both pro and cons.
  • The spend and fund limits seems like what many other wallets are providing (e.g. Grab Pay) so that sits on the fence as well.

The Cons:

  • Feels just like another Pay Service and wallet.
  • Rewards seems pretty and limited so I probably will use sparingly.

Disclaimer

This is not a sponsored post. This is just a tool and exploration to find out discounts and deals. It is never too much to learn and know more about.

If you like what I am sharing, to get the Razer Pay app, apply through here: Razer Pay and you may use my referral code 9iog2G. Both of us will receive a $1 credit to our wallets. In addition, that allow us to stand a chance to win a Razer Gaming Chair (worth $749.90).

This picture image was taken off Razer Pay website for illustration purpose only.

Big Pay (Digital Payment)

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Another payment service has come into the picture. More apps, more interface and more complexity is added into the whole scheme of things now. It feels abit like delivery and food services in the yesteryears. I don’t know about you but I do feel like many of these are popping up as if they are the next super app. I choose to believe that they want the users in order to sell more marketing money to another sucker. But well, as long as there are benefits to consumers and data is kept confidential. Why not?

What or who owns BigPay?

As defined from the website, AirAsia founder and CEO Tony Fernandes officially unveiled BigPay, the budget airline new digital payments platform, at the Money 2020 conference in Singapore

BigPay offers a mobile wallet which can store up to 10 credit and debit cards, and has partnered with MasterCard to offer its own top-up cash card that can be used for payments and withdrawals worldwide. Users can view transactions in real-time on the app to keep track of their daily spending.

What set them apart? As they have claimed

BigPay allows you to spend in 150 supported currencies without transaction fees at Visa’s exchange rate, and also allows you to withdraw money from overseas Via, Maestro, or Cirrus ATMs. It also allows you to make international bank transfers. I’m not too sure if this is the best way to do this as there are so many other options that can also do this.

Rewards

The app has a interface that would reflect spending categories and that separation would be suitable for someone who appreciate such stuff to track their monthly expenses.

Of course, all wallets would have their rewards to keep you using their app for a pro-longed period until you are dependant on it. t

The reward: 1 BIG points for every $5 spent on payments only. I think that for now, they have not figured out the main touch points that people want for rewards other than implementing their own services. This will come unless the app decided that they do not wish to invest more money on this. So this is a very good way to measure how serious a company is when they start expanding their business.

The Deal – $5 for referrer and referee

The key benefits now: We’ll both get $5 credited to our BigPay wallet when you complete the sign-up process by activating the physical card that’d arrive in your mail. After that, you can refer your friends and so on and so forth. It doesn’t seem like there is any cap at the moment since they are new.

Easy transfer back to account

BigPay allows you to withdraw your balance in cash to your bank account. The thing to note is that it’s limited to $100 a day, $300 a month, and you have to pay $1 fee each time you withdraw as a transaction fee. Okay, that isn’t too great a news. Most people don’t even want to pay $0.01 for anything.

That being said, as my philosophy, don’t sweat the small stuff. Smaller or new companies need to pay their overheads and salaries so this mindset would take a least a decade for people to understand.

Sidetrack a little to those who think that saving every cent is considered thrifty. Don’t blame companies for raising prices or dropping interests.

  1. No one owes you anything
  2. It is a free world. Anyone is free to choose – Do not use what you determine as best to define good.
  3. Treat customer service with respect.
  4. Companies have overheads and salaries to pay. Directly or indirectly it saves someone a job and income so increased costs have to be translated back to consumers.
  5. Don’t sweat the small stuff.

Able to stack with other cards

BigPay can double stack with prepaid cards, which is also something that is virtually impossible. For now, you can still use your Grab Card to top up your BigPay wallet. Nice.

It also seems like the Razer Card (which is still in beta) works with BigPay for now.

Delivery

It takes about 4-7 business days for the card to transit and reach you via a registered courier. From there, you will then receive your card.

Conclusion

The Pros:

  • Works with some prepaid cards
  • Withdrawal can be done but at a cost.
  • Hard to find more

The Cons:

  • Low and limited withdrawal amount of $100 per day; $300 per month.
  • Rewards seems pretty and limited so I probably will not use it.

Disclaimer

This is not a sponsored post. This is just a tool and exploration to find out discounts and deals. It is never too much to learn and know more about.

If you like what I am sharing, use my BigPay referral code and both you and I will get $5 sign up bonus. Sign up with the referral code CQDU0PRU7X or tap on this link BigPay Referral now

This picture image was taken off BigPay website for illustration purpose only.

Season of Giving – Tab for a cause

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The season of Christmas is coming. Many people are still trying to get in the mood of celebrating Christmas and it is a nice feeling to do so. In doing so, have anyone wondered if anyone out there needs a helping hug. Other than those meaningless gift exchanges that generates more dumpster waste and creating a new cycle of recycling habits, perhaps it is time to sit down and think about what Christmas is all about.

A Giving Christmas? Really?

All of us want to find a reason to celebrate. In doing so, indirectly I’ve seen people using Christmas for meaningless boasts. At the same time, I have also encountered many people who dread the Christmas habits of gifting. Maybe I am skeptical but I refuse to budge over these futile attempts to gift and receive gifts. Advent is a time of giving but not giving to people who already have enough.

The Exercise or the Process

Not to mention that it burns a tiny hole in your pocket, the efforts to search, deliver, wrap and store these presents seem to have slowly lost its meaning. Looking back at the spiritual aspect of Christmas, it is a time to celebrate but humbly. Helping others along the way seem to be well forgotten. Yeah, I hear people saying tax season is coming so it is time to donate but really, is that the only driver of donation? The 2.5x that caps at 2.5k per year? Our conscience are better than that and I believe the beings still have hope. Despite all that inner angst and money worries and more talk about money, giving shall prevail over all during this season.

Tab for a cause

Tab for a cause is a simple tool that you can add on via your chrome browser.

You can raise money for charity with every tab you open in Chrome just by surfing the web. I was introduced to this by a friend just one week back.

Each time you open a tab, you will be greeted with an incredible new tab page filled with custom widgets, pictures, and a couple banner ads. Tab for a cause collect ad revenue from the page and use it to donate to the cause you are supporting and like minded people have raised over $1M for charity just by surfing the web.Anyone can join in by adding that chrome extension to their own browser device.

I wouldn’t say this is the most friendly user app or extension but if it is for a good cause. Why not for that effort. For every successful link that I refer, I will get additional 350 hearts that goes to the charity organisation that I choose to give to. There is no benefit on my end. I hope that if you do have any sources of referral, you can do the same to pass it on and get it going.

Disclaimer

I do not own or get any benefits from this. In this digital age, if raising funds need to be done this way – It is worth every effort to do so. Please spread that on if you can. After all, we have to live life meaningfully whether we are subject to any hardship or luxury. We start out as equal so there shouldn’t be any class differentiation.

Use the link below to donate and spread the word: Tab for a cause (Add Chrome Extension)

SGfindex – The all in one consolidated banking view

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This is really a nice initiative from MAS to combine all the bank data but I do have some gripe over it and there are nuances which I find myself complaining all over it. Before I do, I shall not and since this is something interesting to see, I would suggest everyone to try it.

Due to the technology involved in this, I wouldn’t suggest those who are not too savvy to attempt. You will get more frustrated from this. Technology do help us but also complicate our lives so much more. It’s just removing a a middle man to reduce pricing but then re-introducing the middle man as  multiple stores and having different shop fronts and products which differs a little from one another.

What is Findex?

If you give your consent to the platform, you can share your personal financial data across Citibank, POSB/DBS, HSBC, Maybank, OCBC Bank, Standard Chartered Bank and UOB, plus government agencies like CPF, HDB and IRAS

This system is jointly developed by GovTech and I suppose SingPass is the security gateway to this capability. It is also stated that personal data is not stored.

I find that this is really in the infant stage of the launch and the applications can be developed into something more. That’s more GovTech and the merchants to find out.

What is the buzz about?

Consolidated bank accounts into one app. Let’s put it this way.

If you have a Standard Chartered bank account, choose the sgfindex option, login to Singpass and link your other bank accounts.

And if you have a OCBC bank account, choose the sgfindex option, login to Singpass and link your other bank accounts.

If you have a DBS bank account, choose the sgfindex option, login to Singpass and link your other bank accounts.

Okay, I think you get it. It is manual and you will need to endure with the lag, error 404, missed linked, etc….

I mean yeah, you get to see all your accounts in one app. All your credit cards, loans, selected government related accounts will be on it and that’s that.

Meanwhile, if you manage to come to this part of the reading – Thank you. If you are keen on getting $5 from Standard Chartered Bank. Do run through their exercise and also read their T&Cs at https://www.sc.com/sg/bank-with-us/sgfindex/

Don’t expect too much though.

Disclaimer

This is purely my own opinion after using their service and/or products. If you like what you are seeing, do remember to check they out and do your diligence. There is no one size fits all investment strategy.

If you like what I am sharing or if it resonates with you, do use my referral codes here at https://lifejourney.blog/contact/ for the services.

The pictures were taken from website solely for the purpose of illustration. Remember not to be a slave of money but make as much as you can.

Christmas Dash

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I’m not a big fan of Singtel but as usual, don’t go against anyone or anything that gives you a decent deal. Dash is basically a digital payment App. They have developed the interface to include deals and a rewards scheme if you use their app to buy, remit or top up SIM card or international air time. Basically, like a grabpay app but suited to fit in their own services.

If you use Singtel Dash to shop, dine and spend this festive period, Dash users will earn a bonus chance to shake the Dash snow globe within the app and win a sure-win prize so long they meet any of the criteria from now till 31 Dec 2020:

  • Make a min $20 hi! SIM card top-up / Make an international air time top-up of $10
  • Make a purchase of minimum $10
  • Remitting $400

Disclaimer

This is not a sponsored post. This is just a tool and exploration to find out discounts and deals. It is never too much to learn and know more about.

If you like what I am sharing, use my Dash referral code and both you and I will get up to $2 cashback for your first Singtel Dash transaction. Sign up with the referral code DASH-RYJKN or tap on this link SingTel Dash now

This picture image was taken off Singtel Dash for illustration purpose only.

Best time to Invest Now?

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More often than not, I read articles and comments and many people ask about if it is the time to invest now. Markets are too high…What asset class to invest into and should I invest now? I only have $100, $500, $1000 (It doesn’t matter how much you have. It matters to start early and depending on which stage you are at. It might be better for you to start an emergency fund first before you invest)

Just this morning, I was listening to Kiss 92 radio channel and I heard that there was a miracle. A fan fell down and went into coma for 23 days. While he was a in a coma, the morning show DJs started to call and talk to him. While they wished  for a miracle, they kept it real and thought that it might not happen. This then sparked a little thought – something we all know but fail to execute.

The story is such a good one that it kind of send me teary eyed for a short while. While we know that miracles do happen, we also know that miracles don’t happen all the time. However, it is important to keep believing that thing will happen the way you want it to no matter how far it seems. Never say never. Be practical but sometimes there are no explanations.

When is it really time?

You will never know when is the time you may lose your loved ones so treat them well and shower the love. Similar to investing, we will never have the crystal ball that tells us the future. If you do have one, I think there isn’t a need to seek financial independence anymore. No matter how accurate, lucky or correct one can analyse – there are no shortcuts. All things take time.

Spend time not focus purely just on money

Spending time on your loved ones is more important than making money. Money as what I alway advocate accelerate the process to many other things. Spending that time not also allows one to connect socially with family as well as reconnect with the young and old. Crossing generations also gives you fresh perspectives and new ideas. Don’t write them off.

Investing takes up a lot of brain cells if you are always exploring for new ideas. These perceptions will provide options and aide in that journey.

Family is family

Whatever your situation is family is always family. What you represent eventually will be translated down to the next generation. There isn’t a guide or way to do it but everyone is a parent for the first time so cut some slack on yours. After all, they were in different times as we did today. Family time provides connectivity that helps one mentally while providing that support. Some may call it safety nets in the finance world but personally I prefer to call that emotional support group. Perhaps friends might be as close to family but everyone’s comfort level is different.

With a section of the mental support covered, naturally one’s focus will be freed of distraction. However, there should always be a balance.

Is it the best time to invest now?

It is hard to say all of that with so many conflicting articles that talk about an all time high and that an impending correction is coming soon. That is all technical and feel. There are no scientific rules as to why markets goes higher or lower. Only interest rates and bond prices are inversely proportional. Other than that, there are no fixed formulas and no one can single handedly control or manipulate the markets.

As always, you can choose to put in some during the initial phase and stagger the investment on a regular basis. This is what most people know as dollar cost averaging.

The other way is really to split the amount that you wish to invest into 3 or 5 parts. Every time the market drops, just diligently put some in.

What ifs?

What if the markets were to increase by another 5% or 10% and you are not invested. That would mean that you will always be missing the market rallies. A medium and long term view of the market will definitely help in the long run.

The excuse

The contradiction will always be there. When you are young, your commitments are lesser but the disposable income is lesser too. Moving into middle age, your commitments increase but your disposable income depends on what you need to spend on. When you are slightly older, your commitments decrease but your risk level should not be like 20 years ago.

The concept

The whole idea is to really to invest early and invest regularly. A miracle happened for someone today but that doesn’t mean it happens to everyone. Some people missed their chance or opportunity and that would have been too late.

Disclaimer

This is purely my own opinion after using their service and/or products. If you like what you are seeing, do remember to check they out and do your diligence. There is no one size fits all investment strategy.

If you like what I am sharing or if it resonates with you, do use my referral codes here at https://lifejourney.blog/contact/ for the services.

The pictures were taken from website solely for the purpose of illustration. Remember not to be a slave of money but make as much as you can so that you can make use of money.

When the world drops in front of you

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Life is very strange. It can be tough for some, easy for others. Sometimes smooth sailing while some have to ride heavy waves for extended period of time. Covid-19 has not been great to many people and companies globally. This also pretty much sums up the cashflow situation most companies are when the economy shuts down for months. The typical companies who are in debt are just simply living on future money, future growth and future prospects. Never touch those companies.

Uncertainty

Life has a lot uncertainties but these should not be the decisions you make in your life. Life will also give you a fair share of knocks but these knocks when looking back ensures that these formulate and set you up for the future. It is actually kind if you look back in that way however at the very moment that things happen, it isn’t easy to take.

Personally, I do understand how it feels and it is totally fine to feel dejected, upset and even cry about it. Immerse into the whole dejection and slump but don’t drag that out for too long. It is equally important to pick up and build the self confidence from scratch.

Your plans will change. Your ideas will fail and things will not fall in the way you want it to be. Truth be told, that is reality. The world starts dropping on you and the worries start formulating in a strange way. Whatever the situation is – It is a setback and you need time to recover. Be it one month, one year for 2 years – that is a process that everyone have to go through. It strengthens your resolve and makes your mind work so much harder.

Moving Forward

The first step is the dismay and anger. Get it through thoroughly and do not withhold. The next step is actually crucial – your own support group. Your family, your parents, your friends, your spouse, your extended family. This is also the time when you will start to realise who you can depend on. Some friendships will be lost while new ones will be developed. The support group is important to keep the sanity going.

Step number 3 is the recovery part and at times, mood will change from step 1 to 3 but that is not a step back but a step forward because there is a plan to go ahead. Regardless you like it or not, you will have to accept it and move ahead. The important thing is to push ahead. At this point in time, confidence can be at a all time low and you will definitely know what you need and what you don’t need.

Moving Backwards

Many times, when you feel that the world has fallen right in front of you. You are not alone and it happens to many people. No one likes to share to tell you the bad things. After all, everyone really just tell you the positive and optimistic stuffs. Social norms say you can’t say but I beg to differ on that view. I’ll say, it is better to speak your mind than keep it under a smile or silence.

I can’t say that this is a good feeling but it is indeed a humbling experience. It can be a time to rethink and/or reevaluate.

It will not happen

Most often, things happen at the most unexpected moments. I often hear people say things like this will not happen. These companies are too big to fail. These are the monopolies or even “My plan is …..” Well, I would say that who knew Covid will actually be a global impact to our livelihoods. The thing is really never say never. Humans are forgetful but these setbacks brings you back to the ground. When you struggle to find a solution, the struggle makes everyone resilient. We are only resilient when you experience hardship.

The Impact

What is impacting is that being a majority middle-class, we are all sandwiched-class. Being financially savvy brings your step out of the sandwich class. A close friend of mine once said that your best gift to your child is getting your own retirement plan ready. I reflected on that statement multiple times and it is true to a certain extent:

a. It is intangible and your child will never be able to understand it until their later stages of life

b. Being financially free and getting ready for retirement gives less stress on your kids as compared to now when you are sandwiched between the seniors and your young ones.

c. By getting ready for retirement, you will eventually also prepare for your child’s education. This is reality and it is real. Imagine contribution CPF to your child’s account and compounding at an early age. This kick start their beginning where most of  us either started too late or had to little to begin with.

Conclusion

The purpose of this is really to gain some awareness about personal finance and how important it is over the longer term. You have to know what you have or what you don’t in order to cover what you are lacking.

As each and everyone of us are different, if you are in difficult times. Don’t worry, it will pass and something better will come by. You may or may not see it now but it will be better as time goes by. Health is important so take care of your own well-being and be mentally stronger over time.

Sustain, maintain and grow your wealth. There is no rush as baby steps are the ones which brings you confidence. Each time, you fall as a kid, you just got to get back  up. Similar with your own investments (Be it personal investments or monetary investments) every step of the way is an experience. No one said that it was easy. Tough knocks makes you a better person and let you make better future choices.

Disclaimer

If you like what you are seeing, do remember to check they out and do your diligence. There is no one size fits all investment strategy.

If you like what I am sharing or if it resonates with you, do use my referral codes here at https://lifejourney.blog/contact/ for the services.

Able to write and share is my main objective is to create a community and blogging what I want to do. Being mentally well and put down content is something I always wanted to do. Trying out new things will definitely bring one’s horizon to a different level.