Asked on 21 Sep 2018
Most important is savings!
Your Disposable income dictates how fast you can FI. Savings have a limit, income seldom have.
Higher disposal income = higher savings = faster pot of gold for compounding to work even better.
Aim to be professional enough for people to pay you a fee. That would be the game changer since you now dictate your salary.
Time in market beats timing the market when it comes to investing.
The fastest way to make the most amount of money is
Nv try to make the most amount of money the fastest way.
By saving and accumulating, we will cultivate good habits tt goes a long way.
By striking it rich, we will only wanna to strike to rich with every risk we can take.
Hope my reply helps.
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Save more earlier in your career. When you have little, it is alot harder to make compounding work for you. Once u hit your 1st 100k of savings, focus on compounding it well.
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27 Sep 2018
You need a high-income skill that adds value to the market place.
Single most effective financial advise is :
Focus on developing your side income by Dr. Wealth. Marcu shared that there is so much we can budget , save and cut with single source of income. However , with multiple stream of income , we can reach out goals much faster , FIRE !
Exercise Independent Thinking
The best investment is savings. Spending habits should remain around the same and not increase when your salary increase. In times of retrenchment and your spending power goes down, your liabilities will hunt you. E.g. Installments.
Don’t invest what you can’t lose
Buy OCBC shares.
Start investing early as time in the market is better than timing the market.
Do your own due dilligence before you make any financial decision! Make sure you know exactly what you are putting your money into.
You need to be right 100% of the time when it comes to stock investments or similar instruments to make money. You can't make money with stock if the market is moving sideways or downwards.