Would appreciate some advice as a 16-year-old student planning for my future?

Hi Ansel,

Very heartened to see you pondering such things at 16, when I was 16, I was just trying to figure out how to do well for my 'O's!

1. You'll want to know what you are passionate about. The costs of starting a business can range from literally nothing (like a blogshop) to tons (think along the lines of running a brick and motar store). Once you know what you want to do, then you'll have a clearer picture of the costs
2. Neither. Gain knowledge first and prepare your capital.
3. If you have income from a job, then yes, please get your coverage early because it's always cheaper. Alternatively, if your parents can lend you a hand, and you will take over later, you can start earlier.
4. Earn, save and invest. Don't engage in wealth destructive habits like a daily starbucks when you're only getting income from a side gig. I got to where I am being insanely frugal and I don't regret it at all. I rather see my pile of money and my investments grow than worry if I'll have enough to make it to my next paycheck
5. Both work. Courses may accelerate your learning process and save you time. Doing your own reading does lead to the Eureka moments when you understand something in your own manner, which will stick with you deeply.
6. A mentor is a two way thing. Prepare to show commitment, and at the same time, prepare to engage your mentor. You can find a mentor anywhere. Just ask if someone senior is willing to be a mentor. They have to be as invested in your growth as you are, or else it will not work.

Hello there! It is inspiring to see you start thinking about your future at such a young age! 😃

1. The capital will really depends on your passion and your expertise, e.g.. Facebook's startup cost was very low
2. Either works, depending on your knowledge and skills. Key point: do not over leverage your position
3. Start as young as possible once you can afford it - insurability is priceless (I'm a living example)
4. Work and earn whenever time allows. At the same time, save as much as you can. Then start acquiring good assets, i.e. those that appreciate in value or generates return and avoid poor assets, e.g. car
5. Start with free ones. With digitalisation today, you can find most of the things online or at the library. Courses may be a shortcut. Whether is it worth the time and money, it really depends.
6. Referral! That is the highest compliment any person can give.