All posts tagged Wealthy

Invest Using Common Sense, Conventional Wisdom Sucks

Posted on Aug 26, 2012 in Articles, Investment Strategy, Singapore Property Investment by 1 Comment

Here are 4 of my all-time favorites ‘Conventional Wisdoms That Suck’ for the ordinary investor. Ordinary investor – Defined as one who’s holding a full-time 12-hour back breaking job, dependent on a job income, maybe a family to support, have some money to invest (not a million definitely), dreams of becoming wealthy one day – and WANTS badly to get out of the rat race.

There are tons of information out there on how to invest in property: the internet, books, seminars, newspapers, financial ‘gurus’, property ‘experts’ and even your next-door neighbor. Most of these information contain a grain of truth and a lot of misunderstanding.

I would just like to know ‘how did they do “It” ? How did they fool so many people for so long? How did they get them to believe in ‘it’ even after it was proved time and time again to be a bad idea?  I don’t even remember learning “It” from my late multi-millionaire grandfather. I just realized one day how dumb the conventional wisdom is and questioned why everyone is doing “It”.

Don’t Be Fooled – There Is No Magic Pill for Success in Property Investment

Posted on Aug 14, 2012 in Articles, Property Investors by 0 Comments

And here is one perfect gift for lazy people – a new type of Rubik’s Cube

Yes! I just purchased the best property investment deal from a property seminar. I don’t have to do anything. All I do is sit on my couch and the checks will be deposited into my bank account. They say they promised a 20% guaranteed return during the first year with a contract. Should I want to sell it anytime, they will either find buyers for me or simply buy it back from me. And the best part? I have only to fork out a tiny sum for the property down-payment. Where’s the exact location of the property? Well, just Google, it’s somewhere there on the map. I’ve seen it on presentation and it looks just fine. No risks, little money to start yet comes with great returns!

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.