Click Here to Watch <----- must see!
Hi friend, must watch till the end ok...
29 April 2009
21 April 2009
Don't Buy Into These 3 Investment Myths
Hi, think its an educational article so decide to post it here.
Don't Buy Into These 3 Investment Myths
According to a study cited in a colleague's article, 49% of people age 25-34 have less than $25,000 saved for retirement. While that's not particularly surprising, this certainly is: A mere 23% of people over 55 have more than $250,000 saved up -- and they're within a decade of retirement!
Too early to plan for retirement? Hogwash! Can you imagine if Tiger Woods' parents had told him he was too young to swing a golf club, or if Roger Federer's coach had told him he didn't need to practice his forehand yet? A large part of the reason those two men so dominate their respective sports is because they got a jump start -- and they never let up.
The same holds true with investing for retirement. You need to practice, work hard, and focus -- so that when game-time finally arrives, everything is effortless and just falls into place. Is it a coincidence that Warren Buffett began investing at 11, has practiced every day since, and is now the richest man in the world? I think not.
So, what gives? I think it has a lot to do with the second investment myth you need to ignore at all costs.
If you've watched professional tennis anytime in the past decade or so, you know that virtually no one can beat Roger Federer -- except for Rafael Nadal. Likewise, virtually no one can beat Tiger Woods on Sunday or otherwise. You probably can't, and I certainly can't.
Furthermore, it's not very likely any of us will ever be a better investor than Buffett. Nor is it likely we will one day be able to brag about how we got in early on and then rode off into the sunset.
So what? Just because I can't beat Roger Federer doesn't mean that years of practice and dedication won't turn me into an exceptional tennis player, or that hitting a bucket of balls at the range every day won't improve my drive immensely.
And just because you may not ever match Warren Buffett's wealth doesn't mean you shouldn't follow his investing style -- regular purchases of excellent companies selling for less than they're worth.
The final thing that seems to keep many people from achieving their dream retirement is the very thing that could achieve it for them in the first place: hard work.
There's no sage advice I can quote here, and I'd be lying if I said investing well or planning for retirement was simple. But you must make it a commitment and priority today -- for the sake of your future. Plus, with a little help, it can be far easier than you ever imagined.
Remember, it's never too early -- or too late -- to start working toward your dream retirement, so simply consult an advisor to get some help on ruling your retirement.
(from www.fool.com)
Cheers!
Don't Buy Into These 3 Investment Myths
Trap No. 1: It's too early to plan for retirement
According to a study cited in a colleague's article, 49% of people age 25-34 have less than $25,000 saved for retirement. While that's not particularly surprising, this certainly is: A mere 23% of people over 55 have more than $250,000 saved up -- and they're within a decade of retirement!
Too early to plan for retirement? Hogwash! Can you imagine if Tiger Woods' parents had told him he was too young to swing a golf club, or if Roger Federer's coach had told him he didn't need to practice his forehand yet? A large part of the reason those two men so dominate their respective sports is because they got a jump start -- and they never let up.
The same holds true with investing for retirement. You need to practice, work hard, and focus -- so that when game-time finally arrives, everything is effortless and just falls into place. Is it a coincidence that Warren Buffett began investing at 11, has practiced every day since, and is now the richest man in the world? I think not.
So, what gives? I think it has a lot to do with the second investment myth you need to ignore at all costs.
Trap No. 2: The "I Can't Beat Federer" Syndrome
If you've watched professional tennis anytime in the past decade or so, you know that virtually no one can beat Roger Federer -- except for Rafael Nadal. Likewise, virtually no one can beat Tiger Woods on Sunday or otherwise. You probably can't, and I certainly can't.
Furthermore, it's not very likely any of us will ever be a better investor than Buffett. Nor is it likely we will one day be able to brag about how we got in early on and then rode off into the sunset.
So what? Just because I can't beat Roger Federer doesn't mean that years of practice and dedication won't turn me into an exceptional tennis player, or that hitting a bucket of balls at the range every day won't improve my drive immensely.
And just because you may not ever match Warren Buffett's wealth doesn't mean you shouldn't follow his investing style -- regular purchases of excellent companies selling for less than they're worth.
Trap No. 3: Planning for retirement is hard
The final thing that seems to keep many people from achieving their dream retirement is the very thing that could achieve it for them in the first place: hard work.
There's no sage advice I can quote here, and I'd be lying if I said investing well or planning for retirement was simple. But you must make it a commitment and priority today -- for the sake of your future. Plus, with a little help, it can be far easier than you ever imagined.
Remember, it's never too early -- or too late -- to start working toward your dream retirement, so simply consult an advisor to get some help on ruling your retirement.
(from www.fool.com)
Cheers!
12 April 2009
I tell Mama!
When a mother tells me she doesn’t like life insurance, I explain she doesn’t have to like it, she just has to have it. I ask, “Do your children like all the foods they are supposed to eat, or do you have to say, ‘Come on, eat this. It’s good for you’? Life insurance is just like that; it’s part of a balanced financial diet, and everyone needs some.”
10 April 2009
Ten Traits That Make You Filthy-Rich
Just happens to read this article some time ago.
If these traits happens to make you rich, don't forget of me!
Saving money isn't all about whether or not you know how to score screaming bargains.
It has more to do with your attitude toward money.
Just think of those who don't fit the filthy-rich stereotype. People like Warren Buffett.
As explained in the book The Millionaire Next Door by Thomas J. Stanley and William D. Danko, personal finance has as much to do with people's traits as it does with money. Many millionaires, in fact, have frugal ways.
Understanding how personal traits can influence your finances is an essential ingredient for building wealth.
Here are 10 key traits:
1. Patience
Patience is one of the most important traits when it comes to saving money.
This means waiting until the first wave of product hype has passed, keeping a car for an extra few years before getting another one and waiting until something you want fits into your budget instead of putting it on credit.
Patience is often the difference between creating savings and being in debt. Having the patience to wait until you find a good deal is a cornerstone of good finances.
2. Satisfaction
When you're satisfied, there is no reason to spend money on nonessentials. The sole purpose of commercials is to make you believe that buying a product or service will make you happier, wealthier, better looking or improve whatever isn't bringing you satisfaction.
People spend because they want to capture the excitement shown in advertisements. When you are satisfied with what you have and your life (not trying to live like those on TV), your finances will be in a lot better shape.
3. Organization
Being organized can make you more productive and ensure that all the many issues pertaining to personal finances are addressed.
It means not paying late fees, not buying two of everything, knowing deadlines that can affect your finances and getting more done in less time. All these can greatly benefit your finances.
4. Discipline
You need the discipline to continue to save money for specific, long-term goals every month.
Personal finance isn't a way to get rich quick, but is a disciplined execution of your lifetime plans.
5. Reflectiveness
It's important to be able to look at your financial decisions and reflect on their results.
You're going to make financial mistakes. Everyone does.
The key is to learn from those mistakes so you don't make them again, or recognize if you keep repeating them.
6. Creativity
The economy and our earnings don't always match our expectations.
Unexpected developments wreak havoc to elaborate financial plans. When this happens, changes are needed to deal with the new circumstances. Creativity is essential to accomplish this.
Creativity allows you to make something last longer rather than purchasing it when you don't have the money. It means juggling money to stay out of debt rather than simply paying with a credit card. It means finding a cheaper alternative when money is tight.
In these ways, creativity plays a large role in keeping finances in order.
7. Curiosity
Having curiosity helps you learn, study and improve yourself.
The curiosity of wanting to know more, to take the time to study and then take what is learned and put into practice is an important process that is driven by curiosity.
8. Risk-Taking
To build wealth, one needs to be willing to take risks. This doesn't mean uncalculated risks. It means weighing all the options and taking calculated risks when appropriate.
The stock market has risks involved, but over the long term, history shows that it provides good returns on money that is invested wisely. Those who fear risk altogether end up saving money in accounts that likely lose money to inflation in the long run.
9. Goal-Oriented
The importance of setting and working toward goals is obvious. If you don't know where you are going, it's difficult to get there. It helps your personal finances immensely if you have money goals and are motivated to reach the goals that you have set for yourself.
Those who lack goals don't have a road map to take them to the financial destination they want.
10. Hard- and Smart-Working
Creating wealth and staying out of debt rarely comes about without a lot of hard work.
Many people might hope that the lottery will solve all their financial problems. The true path to financial freedom, however, is to work hard to earn money while educating yourself to continue to have more value and increase your salary.
You may not possess all of the above traits. But knowing them can help you make changes so that you nourish the ones that you have and obtain the ones you're missing.
Ultimately they will help you with your personal finances and create a plan to accumulate the wealth you desire.
(Copyrighted, TheStreet.Com. All rights reserved.)
If these traits happens to make you rich, don't forget of me!
Saving money isn't all about whether or not you know how to score screaming bargains.
It has more to do with your attitude toward money.
Just think of those who don't fit the filthy-rich stereotype. People like Warren Buffett.
As explained in the book The Millionaire Next Door by Thomas J. Stanley and William D. Danko, personal finance has as much to do with people's traits as it does with money. Many millionaires, in fact, have frugal ways.
Understanding how personal traits can influence your finances is an essential ingredient for building wealth.
Here are 10 key traits:
1. Patience
Patience is one of the most important traits when it comes to saving money.
This means waiting until the first wave of product hype has passed, keeping a car for an extra few years before getting another one and waiting until something you want fits into your budget instead of putting it on credit.
Patience is often the difference between creating savings and being in debt. Having the patience to wait until you find a good deal is a cornerstone of good finances.
2. Satisfaction
When you're satisfied, there is no reason to spend money on nonessentials. The sole purpose of commercials is to make you believe that buying a product or service will make you happier, wealthier, better looking or improve whatever isn't bringing you satisfaction.
People spend because they want to capture the excitement shown in advertisements. When you are satisfied with what you have and your life (not trying to live like those on TV), your finances will be in a lot better shape.
3. Organization
Being organized can make you more productive and ensure that all the many issues pertaining to personal finances are addressed.
It means not paying late fees, not buying two of everything, knowing deadlines that can affect your finances and getting more done in less time. All these can greatly benefit your finances.
4. Discipline
You need the discipline to continue to save money for specific, long-term goals every month.
Personal finance isn't a way to get rich quick, but is a disciplined execution of your lifetime plans.
5. Reflectiveness
It's important to be able to look at your financial decisions and reflect on their results.
You're going to make financial mistakes. Everyone does.
The key is to learn from those mistakes so you don't make them again, or recognize if you keep repeating them.
6. Creativity
The economy and our earnings don't always match our expectations.
Unexpected developments wreak havoc to elaborate financial plans. When this happens, changes are needed to deal with the new circumstances. Creativity is essential to accomplish this.
Creativity allows you to make something last longer rather than purchasing it when you don't have the money. It means juggling money to stay out of debt rather than simply paying with a credit card. It means finding a cheaper alternative when money is tight.
In these ways, creativity plays a large role in keeping finances in order.
7. Curiosity
Having curiosity helps you learn, study and improve yourself.
The curiosity of wanting to know more, to take the time to study and then take what is learned and put into practice is an important process that is driven by curiosity.
8. Risk-Taking
To build wealth, one needs to be willing to take risks. This doesn't mean uncalculated risks. It means weighing all the options and taking calculated risks when appropriate.
The stock market has risks involved, but over the long term, history shows that it provides good returns on money that is invested wisely. Those who fear risk altogether end up saving money in accounts that likely lose money to inflation in the long run.
9. Goal-Oriented
The importance of setting and working toward goals is obvious. If you don't know where you are going, it's difficult to get there. It helps your personal finances immensely if you have money goals and are motivated to reach the goals that you have set for yourself.
Those who lack goals don't have a road map to take them to the financial destination they want.
10. Hard- and Smart-Working
Creating wealth and staying out of debt rarely comes about without a lot of hard work.
Many people might hope that the lottery will solve all their financial problems. The true path to financial freedom, however, is to work hard to earn money while educating yourself to continue to have more value and increase your salary.
You may not possess all of the above traits. But knowing them can help you make changes so that you nourish the ones that you have and obtain the ones you're missing.
Ultimately they will help you with your personal finances and create a plan to accumulate the wealth you desire.
(Copyrighted, TheStreet.Com. All rights reserved.)
4 April 2009
Reducing your housing loan? Reducing your 'Financial Security'
What are the 3 worst things that can happen to anyone?
They are 1) Death 2) Disability 3) Job retrenchment
In these scenario, the person who did not use up his cash or cpf to reduce his loan, his dependants would actually be in better financial position than after he reduced his loan.
So, if you still think that you are 'taking care' of your family by trying to be in hurry to pay off or reduce your housing loan, Think Again. You are actually putting your family in a worse financial position.
Thus a smarter way is to take up mortgage insurance instead of being in a hurry to pay off your housing loan quickly. In the event of death and total disability, your housing loan will be fully paid off and your family will have access to more cash than the family with the housing loan paid up.
Hope this sharing will can change your perspective and help uncover more ways you can 'create' money by financing your property wisely. Share this information to more people your care so they can benefit as well!
(Articles also shared from a local financial practitioner's magazine)
They are 1) Death 2) Disability 3) Job retrenchment
In these scenario, the person who did not use up his cash or cpf to reduce his loan, his dependants would actually be in better financial position than after he reduced his loan.
So, if you still think that you are 'taking care' of your family by trying to be in hurry to pay off or reduce your housing loan, Think Again. You are actually putting your family in a worse financial position.
Thus a smarter way is to take up mortgage insurance instead of being in a hurry to pay off your housing loan quickly. In the event of death and total disability, your housing loan will be fully paid off and your family will have access to more cash than the family with the housing loan paid up.
Hope this sharing will can change your perspective and help uncover more ways you can 'create' money by financing your property wisely. Share this information to more people your care so they can benefit as well!
(Articles also shared from a local financial practitioner's magazine)
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