Posted: 18 Apr 2008 02:05 AM CDT
Flickr photo by royal_broil.
Best driving tip I ever received
The best driving tip I ever received when I was taking driving lessons at Bukit Batok Driving Centre was to “look ahead” when driving. Those of you who are qualified drivers know that safe, defensive drivers are those who can anticipate changes in road conditions caused by other road users and traffic lights etc. Continue reading
Posted: 16 Apr 2008 02:17 AM CDT
The music video by the Japanese Pop group Orange Range aptly titled, “Sayonara” shows how a couple’s life changes when he is suddenly taken from his girlfriend. It’s a sad and yet sweet video because the tone of the video, whilst being sad in the beginning, is positive towards the end.
Watching “Sayonara” makes me think about my own mortality even as I undertake this journey towards financial freedom. I know that all I have achieved through living within my means, saving and investing and growing my means can come to naught if I do not take action to protect my means. Continue reading
Three key benefits of financial freedom
Posted: 14 Apr 2008 09:18 AM CDT
Flickr photo by Hamed Saber.
What’s the point in investing
I was referred to this post “What’s the Point of Investing?” By Dr. Steve Sjuggerud (http://www.dailywealth.com/ ) in Shareinvestor.com forum and I think it captures the essence of WHY we want to strive to be financially free.
When you are financially free or moving close to your target, you are in a strong positive net worth position where you have money. The benefits as mentioned by Jonathan Clements, a respected columnist for the Wall Street Journal:
1. If you have money, you don’t have to worry about it.
2. Money can give you the freedom to pursue your passions.
3. Money can buy you time with friends and family.
Financial freedom is not for us to show off to others than we have “made it”. Rather, it frees us to enjoy other things in life such as relationships, passions and what gets us going in the mornings without having to worry about how we are going to put bread on the table.
It is the opening up of options in life that really comes when you are not a slave to spending and living beyond your means. It is the realisation that you cannot bring all the “stuff” we have acquired in our lives with us into the next world. It is the realisation that it is people and not things that truly satisfy.
What are your own benefits of achieving financial freedom?
What do you see yourself doing if you didn’t have to work for a living?
Be well and prosper.
Posted: 07 Apr 2008 03:31 AM CDT
Flickr photo by mappi1322.
Instant noodles and financial freedom
One of the three core pillars that supports the framework for financial freedom is living within your means. This means different things to different people. Some young people ask in forums how they can save for the future and yet not compromise on their living in terms of lifestyle spending. It is indeed a challenge to juggle between living and spending for now verus denying self and saving for tomorrow. Continue reading
Posted: 06 Apr 2008 03:57 AM CDT
Flickr! photo by Paraflyer.
Creating wealth
Creating wealth is required if you want to be financially free. The wealth comprises your personal net worth and it can be in the form of paper assets — i.e. savings, fixed deposits, treasury bills, bonds, government securities, unit trusts, shares in companies in quoted exchanges or privately held companies. Your wealth can also be in the form of tangible assets such as residential or commercial property, art works, jewellery, physical gold, luxury time-pieces or even luxury vehicles. From the financial freedom perspective, income-producing assets are the ones you should focus on to build your wealth up to the point where the passive income generated from them exceeds your lifestyle expenses. That is what we drive at in financial freedom. Continue reading