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Kunxiang Chia

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Kunxiang Chia

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Kunxiang Chia

  • Answers (3)
  • Questions (0)
  • Reviews (1)

FIRE Movement

Career

Savings

Family

SG Budget Babe

Kunxiang Chia
Kunxiang Chia
Level 3. Wonderkid
Answered 1w ago
How do you gauge your dad's business on the long term future? The fact that you already pumped in 20K must mean there is a potential waiting to be developed. Focus on the items on hand 1st, why is your dad requiring more capital? Inflating costs? Shouldn't be the case now. My guess is he is over budgeting. Look into his cashflow and address areas of concern as soon as possible. Your goal is to help grow his business so much so that he can self suffice and return you your capital. That on its own has a bigger impact that to just get back your 20k invested. With regards to the other items in question, you have all the other experts here in this platform. Growing and investing. Remember, capital appreciation is tax free. So you'd guess which is the greater nemesis. Cheers.

Cryptocurrency

Investments

Kunxiang Chia
Kunxiang Chia
Level 3. Wonderkid
Answered on 09 Apr 2019
Cryptocurrency is a decentralized encrypted 'cyber' currency where its economic value has yet to be realised, meaning not much corporations out there are willing to accept it as a currency in exchange for goods or services. Reason being as to why companies are not receptive to these currencies is also because of its uncontrollably, it is highly volatile, cyber security issues (hackers are targeting, and unknown to many its a heaven for Money Laundering). The infrastructure is building up, its security is being constantly challenged, but slowly and surely it will be integrated into alot of businesses due to its easy to use decentralized denomination. The next question is which denomination to buy into. As Jack Ma says, don't buy into something that you are not familiar. Take small positions to try out this investment, only you will know if its worthwhile after all.

Loans

Credit Card

Kunxiang Chia
Kunxiang Chia
Level 3. Wonderkid
Answered on 18 Apr 2018
Both are equally bad, it's a vicious cycle. So cut the credit cards and work on a repayment with the bank's!
Level 3. Wonderkid
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