All posts tagged Financial education

Say Say Only, All Up To You!

Posted on Sep 5, 2012 in Coffee Talk by 0 Comments

coffee-talkDreams vs Goals

A goal has a process.

Many people wants to get rich, buy that house, buy that car, get out of the rat race, lead that life, but why do they fail? The reason is most people have dreams but do not focus on the process necessary to achieve their dreams. For example, many people want to lose weight but what gets in their way of achieving their goal is the process of change in diet and exercise.

Most people dream, complain, whine, and give excuses. So instead of achieving their goal, their dream of a healthier, more attractive body remains a dream.

The other day, my fitness trainer said how envy he was with me, “How I wish to be like you and not have to worry about work on a weekday afternoon!”

Thanking him for his compliment, I asked, “How do you plan on making your dreams come true?”

His reply was, “I don’t know. I guess I’ll just keep dreaming.”

The process is as important as the goal. So any goal without a process is just a dream. And any goal without a change in one’s daily routine is also a dream.

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.