Best personal finance advice you would have told your younger self 10 years ago?

Save vigorously!!!

• Not to chase after short term quick gains, but go for long term slow gains such as dca into index fund

• Do not invest in ILP, mutual funds

• Enjoy the moment and present, the people who you enjoyed being with now may not be with you in future, treasure every encounter

• Give generously

What I will tell my younger self:

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1. Save because you can, not because of a goal.
2. A lot of people will wish that they caught the big investments when they were "cheaper" 10 years ago. Don't fall for that. They were not proven nor do you have any way of proving that they were capable of that, and they could easily go to zero. Instead, learn investing, so that you can increase your chances.
3. Be compassionate about your own failures, but finance is a fickle thing. Learn decisively, but mistakes don't belittle who you are.
4. Compounding is a poweful force that is blind. It can benefit or destroy you. Think about how you can leverage it, and avoid how you can be victimised by it.
5. The true testament of a life well lived is the minimization of regret.

Taking a leaf from the book "Money Psychology", the hardest financial skill when you are young is how to get the goalpost to stop moving.

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Hedonic adaptations make us want more & more and we are often not satisfied with what we have. There is this constant need to keep up with our peers.

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The day you can learn to live well below your means is the day you can save, invest & grow wealthy without showing that you are wealthy.

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Less is More & you can then achieve Financial Independence & Retire/ Rewire Early (FIRE).

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