A young father of two says money not enough.

Hi AK,

I am 37 this year. Married with 2 boys, 6 and 2 year old 

My wife not working and take care of our children 

Recently I have been feeling very fan , keep thinking money not enough to bring up our kids , I had a job which I don't really like , I am still here because I need to bring home an income to support this family.

I need advise from u. If now 1 got 100k in FD, how to make better use of it. Thanks AK

I LIKE YOUR BLOG

Hi D,

Welcome to my blog. :)

While keeping a look out for a better paying job which you might enjoy more, think about how to reduce expenses at home and increase income in other ways. Make sure that the ways you have identified to increase income involve doing things you enjoy or at least don't dislike. Of course, if you do this, what you have will be more savings. Having more savings always makes people feel better.







Ask if that $100K in FD is your emergency fund. At age 37, you should have an emergency fund that will cover regular expenses for 12 to 24 months. The excess, if any, you could invest for income. You might want to split the excess into half, investing half now for income and the rest for in case the stock market crashes. Which stocks to invest in? I will leave that to you. :)
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Don't be "fan" (frustrated), to use your word. You have something precious and that is your family. :)

A well known local investor, Dr. Michael Leong, said before that family is more important than anything else (including money). Don't forget that.

We only need so much money in life. The rest is for showing off.

Know how much money we need and work towards that. 

Do what you need to do for your family.

Don't compare with others.

Unless we are the richest person in the world, there is always someone richer.





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