Growing wealth by being smart
It’s going to be close to a year of blogging and I cant explain how much i’ve gained from it.
This blog post will be a short story of how I’ve became an investor
At age 21, I’ve decided that having an alternative source of income from trading is essential for early retirement. In order to get out of “the usual cycle of life”, I took an educational holiday to Bali for 30 days. In that 30 days, I spent 8 hours a day reading books on investing, 2-4 hours reading people thoughts/idea on achieving financial independence, 1 hour visualising how I would want my life to be and 2-4 hours trading.
When I came back, I created a list of what has to be done:
- Finding the best broker
- Identifying my needs of the future (Portfolio Management)
- A way to log my analysis/ growth in my financial literacy / be apart of a like minded community
- Methodology used for investing
- Stocks/Reits/Bonds/Index to purchase
- How to save more money ( Credicard / Airbnb/ RedMart/ Shopback / Tax Scheme/ Coin Depositing/ Mobile Network )
What I’ve learned so far is that it is not hard to be financially independent if you want to. You will be surprise by how much money is being wasted by the average Singaporean due to the lack of financial knowledge. (E.g choosing insurance/bank products , using cash, only investing when they got a lump sum)
p.s Currently, I’m stuck due to certain circumstances which is refraining me from achieving my ideal portfolio size this year but I know I’ll find a way out to reach my goal.
“Anyone can be smart if he/she wants to” – R.C