Category archive - Financial Freedom

5 Signs You Have Become a Slave to the Wealth Gurus

Posted on Apr 12, 2015 in Articles, Financial Freedom by 0 Comments

When I first started reading about wealth and financial freedom, I made a classic rookie mistake – I fell into the trap of the wealth gurus. I thought they really wanted to help me achieve my goals. It turned out the only thing they wanted me to do was subscribe to their ideology and profit on the back of it.

The 3-3-5 Rule and Financial Freedom

Posted on Jul 15, 2014 in Articles, Financial Freedom by 0 Comments

financial Freedom

In a recent blog post, fellow contributor Property Soul shared her rules on buying a property you can afford, what she called the “3-3-5” rule. http://www.propwise.sg/can-you-afford-your-home-a-simple-affordability-test

A Propwise.sg reader JC wrote in to comment that Rule #3 was unrealistic and overly conservative.

The Boring Secret to Getting Rich is…

Posted on Apr 22, 2013 in Articles, Financial Freedom by 1 Comment

On day, a rich dad took his son on a trip; he wanted to show him how poor people live.

They spent time on a farm of a poor family.

On the way home, dad asked, “Did you see how poor they are? What did you learn?”

Son said, “We have one dog, they have four dogs.”

“We have a pool, they have rivers.”

“We have lanterns at night, they have stars”

“We buy our organic food, they grow theirs.”

“We have walls from our expensive houses to protect us, they have friends.”

“We have nice cars to drive and show others, they have freedom of time with their love ones.”

“We have latest tech gadgets; they have real touch & love.”

The son said, “Thanks dad for showing me how poor we are.” 

What you should do if you hit the jackpot?

Posted on Apr 2, 2012 in Articles, Financial Freedom by 0 Comments

There was an article written recently in the national newspaper dated on 18th March, 2012, The Sunday Times under the invest home page, “What you should do if you hit the jackpot?”

The author/article offered 3 ways to handle a sudden huge sum of money (from lottery, inheritance, etc) with the advice of a ‘well-known financial planner’, who is a MD of a local financial advisory firm.

First, pay off all your debts (including your outstanding mortgage on your home if you have one)

Second, get yourself a house and pay for it in full.

Thirdly, start a retirement fund or expand one, by setting aside the rest of the money with a credible financial planner.

In short, what this financial planner is saying is , ”If you have a million dollars today, pay off all your outstanding debts including your home mortgage so you’ll be totally debt-free and leave the rest of your money with me in a mutual fund…and you can continue to slog hard at your job without any debt worries.”

This is one of the worst financial advice I have heard coming from such financial planners or ‘experts’ who deemed to know what true wealth really is, which in fact, many don’t.