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We don't have to be smart to be rich!

Monday, January 30, 2017

Recently, I had a blog on three attributes of a wealthy peasant.




We don't have to be smart and we don't have to make a lot of money to become wealthier. 

However, we should be prudent, pragmatic and patient if we want to become wealthier. (See related post #1 at the end of this blog.)

Charlie Munger certainly thinks it is a no-brainer and so do I.

Tax deferred account? In Singapore, we have the SRS but try to take full advantage of the CPF first. 

I like to think that I have been prudent, pragmatic and patient in the last 20 years.
See related post #2 at the end of this blog.
Yes, at the ripe old age of 45, I am showing off my CPF savings graphically.

Of course, I have always said not to use me as a benchmark because all of us have different circumstances in life. If we have done the best, given our situation, that is good enough. 

Finally, remember, I always say that a bit of luck doesn't hurt and I have said many times before that I have been mostly lucky in life.

See related post #3 at the end of this blog.
Very happy to share the good luck with all who read my blog. ðŸ˜Š

Don't say that we cannot be rich because we are not smart and don't make a lot of money. 

We don't have to be smart to be rich!


Related posts:
1. Be a wealthy peasant.

2. AK showing off CPF (2017).
3. 2017 CNY Lucky 4D.
4. Unless we are rich, be pragmatic!


AK71 said...

From FB:

Desmond Yee:
wah urs very high leh

Jack James:
Assi AK one is damn high !!!

Desmond Yee:
no wonder wear mask ;)

Jack James:
He did 4 things extra
(1) Didn't use OA for housing loan
(2) Transfer OA to SA to the max
(3) Did VC contribution to the max
(4) TOP up SA S$7,000 to the max
Did I miss out any other points ?

Assi AK:
I think you added too many things to the max. LOL

Jack James:
Hahahah . Tell us the secret ! For the fresh graduate to learn and follow !

Assi AK:
Aiyoh. No need to the max lah. The idea is there. Just do what we can and we will be better off liao. :)

Desmond Yee:
yeah let fresh grad learn. old bird like me too late liao lol

Assi AK:
I did OA to SA transfer but only for first few years of working life, for example.
This was my biggest advantage because compound interest needs time to work. I gave it a bigger base to start from. It was like steroids.
I not high income earner. I couldn't do cash top ups to the max. :(
Of course, I only did VC to the max in recent years as I have already hit the minimum sum and could not do any cash top ups.

pf said...

Why does it seem that everyone already got their cpf statement except me? :(

I think the statement format is really nice. It's even nicer than some of the premier/private bank statements that I've seen.

AK71 said...

Hi pf,

Login to your CPF account and take a look. It should be there. :)

Ben said...


I think that the road to financial freedom is like the marathon run. It is not usually the best one who will end up first in the finishing point.To be honest, it does not really matter whether to finish first in the race. What it matters, is to be able to finish the marathon. Enjoying the process, is the essence.


AK71 said...

Hi Ben,

If we are miserable, we are doing something wrong. All of us have to find a way, our own way, that will help us achieve financial freedom and be happy at the same time. :)

AK71 said...

Journey to financial freedom is not a race.

Gambatte! :)

simplyme said...

Hi pf, i think you should tell that to the CPF. I bet there's lots of hardwork behind the revamp statement ;)

Hi AK, the govt shld do more to educate the public on the benefits of the CPF and if they need a poster boy...*wink wink* anyways I hope the govt realises that the populace taking a very keen positive interest in the CPF will aleviate future budget issues stemming from an ageing population. People shld learn to feed themselves instead of expecting free handouts.

AK71 said...

Hi simplyme,

I like to help people to help themselves and I think most people actually do like the idea of self-help as well. It is about living with dignity. The CPF gels with my philosophy.

The big problem is a lack of trust in the system. It still is.

If I have managed to do some good through my blog, I am happy. :)

Ben said...

Hi AK,

I think that it is up to individial's preference to decide whether the current system is suitable for him/her. You cannot force someone to the water if he/she is not willing to do so. I believe that that is the maximum you can do to convince them. However, I think that you have convinced a significant amount of people to adopt the route to financial freedom. I think that you should be commended for such selfless mindset. There is no need for you to do so though.


AK71 said...

Hi Ben,

Blogging is a hobby. It is something I enjoy doing. :)

If I can do good while doing something I enjoy, it is a win-win situation. ;)

Of course, there could come a day when I no longer enjoy a hobby. That is when I give it up.

Tanya said...

I bought! 100 bucks! Not sure if it's the same draw as I was away and asked someone to buy it for me! Hopefully it's the same one!


AK71 said...

Hi Tanya,

Wow! That is a fantastic windfall.

50 big, 50 small = $64,000!

You are quite the gambler! :)

Tanya said...

Actually I bought 100 big and small.

I thought buy big can only win first 3 prizes and small can only win the other prizes other than the TOP 3. Hence I bought my tickets like this. I've never bought before actually. Only chip in with friends for toto.

At first I thought I only won 100 bucks. Just found out from my friend that buy small also can win something. Sadly my friend didn't buy the same number but I'll give him a big treat, any restaurant he chooses :)

AK71 said...

Hi Tanya,

I think you are the biggest winner here. I don't think anyone bought as much as you did. My grandma used to say gong gong jia ti gong. Better be lucky than smart. ;p

AK71 said...

Dolce Goh says...
Is it necessary to get a CFA Level 1 Cert?
Is Investing an Art or a Science? (Sounds like a typical GP question 🙊)

AK says...
I have CPF... I dun have CFA... how like that? -.-"

AK71 said...

Tong Xiang Yap says...

CFA level 1 and even 1+2 is useless in terms of job application (I cant really think of any other uses of them). Only with a full certificate ie passed all 3 levels then you get accredited by CFA society.

If one just wanted to learn financial planning, education etc, read up all the FOC information or just read up ASSI blog can liao.

Same as AK, most of us have CPF and not CFA, lol.

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