To Build My Wealth

Welcome to my site where I share my thoughts and what I've learnt about how to build wealth. Let's work towards our financial goals!!!

Search This Blog

Home
Disclaimer

Showing posts from December, 2021

View all

Posts

Create Multiple Streams Of Income: My Top 3 Ideas

on December 05, 2021

Get link
Facebook
X
Pinterest
Email
Other Apps

Ways In Building Wealth : Invest in S&P 500 Index

Disclaimer: I am sharing my own views in this post. The information in this post is for information only. The information and publications are not intended to be and do not constitute financial advice, investment advice, trading advice or any other advice or recommendation of any sort offered or endorsed by me. The information and opinions contained in this post has been obtained from sources that I believed to be reliable, but I make no representation or warranty as to its adequacy, completeness, accuracy or timeliness for any particular purpose. Opinions and estimates are subject to change without notice. All investments involve a risk. Please seek the advice of an appropriate certified and qualified professional and do your due diligence before making any investment decision. What is S&P 500 Index? The S&P 500 Index, or the Standard & Poor's 500 Index, is a market-capitalization-weighted index of the 500 largest publicly-traded companies in the U.S. It is...

Building Wealth Habit 1: Pay Yourself First

What does pay yourself first mean? It means that when your monthly paycheck is credited to your bank accounts, your transfer ("pay") certain amount of the paycheck to another of your saving accounts before your pay to others (bills). Why pay yourself first? Many of us will pay others (bills) first when receive our monthly paycheck. Hence by end of the month, many of us will not have any or much money left for savings & investments. It seems like we are making money for others instead for ourselves. You may had heard this “Is not much how much money you make, but is how much money you keep” – by Robert Kiyosaki. This is one of the best habits in building wealth . How much to pay yourself first? There is no fixed rules on how much to pay yourself first. It can be a 10%, 20% or 30% of your net monthly paycheck or start with an amount which is comfortable to start with depending of your financial goals . No matter what is the amount, start wi...

Create Multiple Streams Of Income: My Top 3 Ideas

I believe some of you (including myself) who only has one full time job are trying hard to find ways to in building wealth to meet your own specific financial goals. In general, for average working adults with one source of fixed paycheck, after deducting all necessary expenses, you can only save a fixed amount (maybe 10% or more) for savings & investing monthly. In order to try my best to build my wealth, I'm trying to find ways to increase my income in order to increase in my investment capital. Creating multiple streams of income will not be easy as it will takes time and effort. Please be mentally prepared that it may not turns out to what you expected and it takes longer time (maybe months or years) to see the results. But I believe that we have to start one way or the other. 1. Start a Blog If you like sharing your thoughts, your interest, what you've know or what you've learnt in wordings that may add value or benefit others, starting a blog may suits you. Star...

CPF Investment with Endowus Robo Advisor

Disclaimer: I am sharing my own views in this post. The information in this post is for information only. The information and publications are not intended to be and do not constitute financial advice, investment advice, trading advice or any other advice or recommendation of any sort offered or endorsed by me. The information and opinions contained in this post has been obtained from sources that I believed to be reliable, but I make no representation or warranty as to its adequacy, completeness, accuracy or timeliness for any particular purpose. Opinions and estimates are subject to change without notice. All investments involve a risk. Please seek the advice of an appropriate certified and qualified professional and do your due diligence before making any investment decision. If you want to earn more than 2.5% (3.5%^) interest for your CPF Ordinary Account (OA), you may want to consider investing your CPF OA. But firstly, please visit CPF Board website to und...

#1 Step Building Your Wealth: Set Your Financial Goals

Many successful people have a common practice which is to set their own goals. With the financial goals set, Will have a target for you to focus. Motivate you. Work out specific actions plans and strategies. This is #1 step and important step in building your wealth. It will not be easy or it can be very hard to achieve the goals depending on what your goals are, but at least you willing to face it, have the figures, take massive actions and work towards your financial goals with persistent rather than just letting your finance run its course. List down your financial goals with the exact amount needed (or at least the closest amount) with specific timeline and actions need to be taken. You can categorize & prioritized to Short term (1-2 years) Medium term (3 -5 years) Long term (> 6 years) Examples (all figures are just for illustration purpose): Short term (1-2 years) Clear of credit card debt ($2,000 in 3 months) action: clearing $400/month Save emerge...