Saturday, 20 September 2014

The Journey of a Budding Investor; When Actions Speak Louder Than Words

As some readers may recall, I previously received an email from "Reader A" who wanted to begin investing. When I asked how did he find me, he replied and I quote word by word:

"Currently, i am 18. Just last Saturday, i went to a wedding of my relative. So i started thinking about my future and if i can actually cover my wedding needs financially. Just nice i came across your post, "How much do you need to save for a decent wedding in Singapore?" shared by my friend on Facebook, That is what led me to your blog and it is enriching."

I found it very interesting that there are many things in life that leads to you "Thinking about your future".

Things like marriage, or you see your cousin/friend/sibling give birth, start a family. Things like that.

I'm guessing that thoughts about our future happens to everyone, some time or the other.

I also wondered though, how many actually acted after having that thought?

Everyone has their individual way of coping with their thoughts. Some shrug it off, thinking that they'll cross their bridges when they come to them. Others, however think deeper and begin getting worried. However, being worried is not necessarily a bad thing. It just might be what you need to spur  you on to begin your journey to financial freedom.

Many financial blogs I have read all have a common objective. To get rich; to obtain financial freedom/security and so on. 

What about myself? Well, I wouldn't dare to say I'm halfway there. In fact, I've only just begun less than one month ago. And I always wished I had started earlier. But at least, I started.

I don't claim to be the most knowledgeable, far from it in fact. It's comments by senior investors on my blog that gives me the motivation to continue, because I view them as my role models. It's their posts that help me learn more, every single day.

Seeing them all achieve so much makes me wonder why did they begin in the first place and what motivated them to begin?

For me, it's because of my mother. Seeing her work so hard to provide for us made my heart ache. I wanted to achieve financial freedom to provide for her in the later years as well as have enough money to start a family and afford a comfortable house. Most importantly, I also wanted my money to work harder for me, to beat inflation.

What worries me is also the amount of foreigners coming into our country and competing with locals for jobs. I see posts on Facebook every day that some local has been kicked aside replaced by a foreigner and so on. Job security is increasingly unstable.

But I digress. The main post of this article was to congratulate this young reader who actually took the first step and was already mentally mature compared to his peers of his age who might be more concerned about schoolwork, girls and popularity/clubbing/smoking and things like that which I was when I was his age. Guilty as charged.

It was only nearing the end of my school years and the stage of enlisting next year which woke me up. Two years of my life would be gone and I wanted to make sure that two years was worth my time. I intend to use part of the NS allowance to continue my small monthly investments.

I hope to look back some day and not regret the path I have chosen.

Would my future self thank me? I can only hope so.

Signing off,
Teenage Investor

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  1. Glad that more youths are getting aware/interested in these stuff. Hope there would be more blogs in the future, should be fun to read everyone's story.

    With regards to clubbing/girls/etc, I'm guilty of that too! I guess it's part of growing up. What would life be without all those? Hahaha. All work and no play makes Jack a dull boy right?

    Anyway, when we're old, I'm sure most of us would be much happier to die with a lot of experience but little money than to die the opposite.

    By the way T.I, since your blog have readers, unlike mine -.- I would like to leave some words for the youths who are starting out:

    Those who are still young and starting their journey towards financial freedom, remember this, YOLO. You only live once. Don't be too obsessed with money and get too caught up with it. There's so much more in life. Always remember to go out, have fun and most importantly, be happy.

    1. Hi Mat! I hope so too!
      Agreed, part of growing up is experimenting, finding "ourselves".

      Hey, don't say that, getting readership takes time. Mine is just child's play compared to the other seniors out there who's in the hundreds of thousands!

      Take care!

  2. Replies
    1. Hi Uncle!
      I've read it! Now I have a current dilemma of knowing that index funds are beneficial in the long run yet torn between dividend stocks haha. Any advice?

    2. You may change your thinking after 19 Jan 2015. See how first.

      BTW, you are same age as my youngest son. He was enlisted in the Apr batch.

    3. Hopefully, can't wait when the board lot drops it's too expensive for young people haha.
      Oh, I enlisting next year, but I'm not sure about the month

  3. Hello TI!
    It's gonna be my turn to enlist this November! Gosh!
    May I know how much percentage did you save from your monthly allowances during NS? :(
    The IA

    1. Hey there TIA!
      I have not yet enlisted! Haha!

      Maybe it'll be helpful for you :)

  4. Hi T.I,
    Rememeber one thing.. along the way there will be a lot of temptation that side track u n lose ur way towards the path to financial freedom.. rmb to always know ur final goals in life.. stay on course.. and of coz.. all works but no play will drain u off slowly killing u as a living human. one good thing is u start young.. balance is the key...

    1. Hi Anon!
      Thank you for your advice, I will focus on not getting side tracked!

  5. Hi TI,

    This is my first comment.

    Just sharing my personal ex. NS days are super easy to save up if u dun go cheonging and squandering your nights off.

    I manage around 9k at the end of 2 yrs 4 months, I know of friends who manage 10k and others with less than 4k. Some are way advanced, talking about unit trusts etc then...

    Moneywise, I have been a bad saver and budgeting person.

    The best asset I think we can accumulate at this age is be nice people and true friends.

    Your wife will be from this group, and your spiritual and social support. There is no need to spend a lot on friends. Same frequency make good friends, I never go cheong with certain groups, but it does not matter.

    The next best asset is yourself. Not just in terms of hard knowledge and soft skills but also leaning how to come to terms with myself...

    Sorry, talk too much. Occupation hazard... LOL

    Enjoy your youth. Time flies

    1. Hi SI!
      I hope to save as much as possible from NS, since they provide "Free" medical attention/room and board/food for the next 2 years.
      I hear that friends you make in army will be buddies for life, don't know if that's true!