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

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

Prudence.

Pragmatism.

Patience.





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. 

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!





恭喜发财


财神到!财神到!好心得好报!
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!

$3K salary a month but saving $16K this year!

Hello AK,

How are you? One year ago i've start following your blog and chatting with you via FB as well. I got so much things to share and update you. After completed my private degree, i have changed a job and income increased from 2.4k to 3k.

Some of my friends are still earning more than me. i was so stressful to keep up with the market and expenses. But thanks to AK's Blog, everything is under control.

Well, i have been doing my financial planning constantly for the past one year. i set my own personal goals. Firstly, i have already got all the necessary insurance covered and building my Emergency Fund, transferring all my OA to SA, note down all my extra expense every month and everything is keep track down BLACK and White in EXCEL.

Like i said, i feel my full time job 3k is so insufficient, hence be like AK, do more part time job. i took up part time job working in the Gym. As my Full time belongs to shift work, i try to slot myself whenever i can to earn extra cash.

All my friends asked, "Not tired meh?". Of course my respond was, "Its Damn tiring, Dying!". I have reduced free time to hang out with friends for movie and stuff. But well, i start saving even more.

I re-contract latest Iphone 7 and sell away for extra $800 cash into my pocket. I went to keep fit and train for my 2.4km run and take ippt for extra $500 cash into my pocket. I have completed half of my NS ICT milestone and rewarded with $3k CPF OA and $2k MA. Happy!

So after talking so long, what did i gain from 2016 to 2017? I attached my CPF statement for your reference. I realised the 4% interest in SA is IMPT when i've WITNESS and received what Government is rewarding us.

A, B, C, D, E! Wow, more than AK!
He is enjoying an interest rate of 5% per annum for his CPF savings too!

Additionally, now i have 10k saving in my OCBC saving account. i know it's still so little but i challenge myself to target hit 26k by end of Dec 2017.  i shared with my friends and they thought i must be CRAZY. Earn 3k monthly, after cpf 2.4k, how to save 16k within 12 months?

Don't worry, i got my plans. I will update you next year on this. And i will start planning investment on REITs next year once i fulfil my E-fund of 26k.

Lastly, Wishing you good health and a Happy Chinese New Year ahead. AK
Warmest Regards
S

This young man emanates positive energy and determination. I won't be surprised if he ends up saving more than $16K this year!

恭喜发财

Related posts:
1. Filial son working hard.
2. First step to becoming richer.
3. Be a wealthy and happy peasant.