Asked on 05 Nov 2018
Curious to know! Because I think many of us are in our 20s and are focusing on our job and a salaried income now (accumulation phase), rather than focusing on investment growth yet, as we don't have a good base to begin with.
I have answered a similar question earlier but I will add on to it here:
It is always easier to see looking hindsight in life.
Following my passion early will make me happy and most likely richer.
Learn and personalise the power of compounding from young.
Don't listen to my insurance agent especially when they offer me good return rates. I should have been more careful of Investment Linked Policies.
Govt loves the stock market to rise (which usually means the economy is booming) but hates Property Bubble. Specifically I dont believe in Property Investment now a days. The good days are over in Singapore.
Your wife can make you poor or make you rich so choose carefully. Dont expect her to change her financial habits after marriage easily.
Between looking rich and being rich, you can only choose one.
I would definitely want to be smarter with my money management.
1) Save more. A dollar saved is a dollar earned.
2) Not to spend on unnecessary items
3) Start investing earlier to fully utilise the power of compounding
Definitely starting my investments earlier and to save up my pot earlier by doing part time jobs and side hustles.
Yes, If only i knew the power of compounding, i would like have start my investment journey way earlier as compounding will allow me to invest lesser amount if i am able to start younger.