AK's photo to celebrate Year of the Horse 2014

This is my photo to celebrate Year of the Horse 2014:

AK71 says 新年快樂!

Yup, took it myself instead of using some stock photos from the net.

I won the doll in a scatch and win lucky draw. The mandarin oranges are from my sister's kitchen. The red packet is from my broker.

Gong Xi Fa Cai!

Huat ah! HUAT ah! HUAT AH!

4 numbers I saw on my desk: 9232.

4 numbers? What for? OK, if you think I am always lucid when I blog, you could be mistaken. Don't be so serious. I am just horsing around lah.

Start the Year of the Horse inspired! If you can spare 50 minutes, watch this video, if you have not done so yet:
The world's greatest money maker!

Have a huge amount of savings and still work till age 70?

It seems that for many Singaporeans, there is no problem with having an emergency fund. 

According to research by Manulife Singapore, their sample shows that Singaporeans hold an average of 33 months of personal income in cash!

A fifth of this is for daily and unexpected expenses. 

The balance, which is being underutilised, is losing value because of inflation. 





So, cash is a favoured asset. 

Guess which asset is in second place?

The property we own and stay in.

Being mostly in cash is a bad idea given the paltry interest income from the banks. 

Inflation is chipping away at our wealth.

Then, isn't our home a good investment? 

No, the property we stay in is not an investment. 

It is an asset but if it does not generate cash, it is a consumption item.





In the same report, it was revealed that Singaporeans expect to only retire at age 61 and continue working for another 9 years after. 

That means a grand old age of 70.

Work till 70 years old?

At age 61, if people continue working because they want to, I am happy for them, but if people continue working because they have no choice but to do it, then, it is rather sad.

The latter doesn't have to happen.





I have blogged about how the first step to wealth building is saving money which some find difficult to do. 

However, for people who already have substantial amount of savings but are holding themselves back from investing for income, it is really sad because their wealth is simply wasting away.

It is probably considered bad manners in Asia to talk about money but with the long weekend coming up, I am tempted to ask you to give it a try, to talk about this with people who are closer to you and people you care about. 

Or, perhaps, just email the link of this blog post to them.

Everyone's life could be and should be better.

“Never depend on single income. Make investment to create a second source.” Warren Buffet




Related posts:
1. Achieving financial freedom is a family affair.
2. A letter from a 66 year old retiree.
3. Inflation adjusted retirement income plan.
4. Secrets of Millionaire Investors.
5. Ambassadors of Financial Freedom.