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Thread: 6 HABITS THAT WILL KEEP YOU POOR FOR THE REST OF YOUR LIFE

  1. #1
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    Default 6 HABITS THAT WILL KEEP YOU POOR FOR THE REST OF YOUR LIFE

    You were born poor, but if you die poor you have yourself to blame. Before you finish reading this article, at least 8 out of 10 people will have done something that contributes to their future poverty. Only 2 out of 10 will have done what is required to remain prosperous in the future. The question you need to ask yourself today is, “I’m I among the lucky 2 or the not-so-lucky 8?”
    Here are 6 habits that could easily draw your route-map to a life of perpetual poverty.


    1.You focus on linear income instead of passive income


    Most people focus on linear income in the name of salary, allowances and one-off payments. Wise men on the other hand focus on passive income in the name of royalties, interest rates, value addition and profit.
    Relying on linear income is similar to using buckets to fetch water from the river. With time, you’ll get too old and too tired to transport them to and fro and that means you’ll have to starve for as long as you don’t go to the river.
    bucketsRelying on passive income on the other hand is similar to building a pipeline. It may require a lot of work at the beginning but with time, you’ll no longer have to go to the river to get water – the river will come to you and you’ll not starve.
    This is the most fundamental principal of wealth creation that most (including you) are oblivious about.


    2.You’re still waiting to start your journey of success


    Everyone wants to succeed but very few people are willing to step into the cold waters. Do you see the problem here? In the history of the world, no marathon race has ever been won (or even finished) by someone who never left the starting line.
    As you’re stuck saying that you have no enough capital to start, someone else is busy making good use of whatever little they have.
    As you’re busy lamenting that there are no business ideas, someone else is busy sharpening his innovation claws.
    When you’re busy complaining about a problem in your society, someone else is busy thinking how to start a business that solves that problem.
    Continue waiting at the starting line and poverty will soon find you there to keep you company.


    3.When you earn more you spend more


    money money
    Consistently raising your expenditure is a good way to accumulate debt and to remain stuck in the echelons of poverty. To stay out of bad debt, you will either need to find a way to earn more or spend less. The first and best option is to find ways to earn more and keep your expenditure constant.
    As you know this can only be done by creating multiple streams of income and lot’s of thinking is necessary in that case.
    The second option is to simply cut on unnecessary expenses. The money that is saved from these budget cuts could be used for embarking on future investment programs.


    4.You complain instead of committing


    “Life is too expensive”; “It’s hopeless; I’ll never get out of debt”; “I don’t earn enough money.” Have you ever uttered any of these statements before, or perhaps all of them? Old habits die hard; however, as long as you do nothing to change; then you and your coming generation have a direct ticket to the land of poverty.
    Stop complaining and making lame excuses. Instead, take responsibility for your non-productive habits and focus on changing them – then do it!


    5.You live for today, hoping tomorrow will care about its worries


    In the 1950s a scientist from Harvard University studied the reasons for upward socio-economic mobility. He wanted to know how comes some generations get wealthier while others get poorer. All his research brought him to a single factor that he concluded was more accurate than any other thing in predicting success – he called it “The Time Pespective”.
    clock clipart
    Time perspective is basically how far you project into the future when you make a decision today. An example of a long-term perspective is when a wise family man buys land or insurance for their child, even though he or she will not need it for the next eighteen years. This is a long-term approach that involves sacrificing in the short term to assure better outcomes in the long-term.
    Most people remain poor because their “time perspective” is focused on short-term goals such as meeting basic lifestyle needs, buying luxury items, paying rent etc…are you one of them?


    6.You just don’t get it!


    The problem is that you keep learning but you don’t get it. You’re educated but you’ve never internalized what your teachers told you. You have knowledge but you don’t want to think too hard how to use it. You’re still stuck at the starting line all along because you don’t want to start small and grow bit by bit from there. You’re still stuck in the lottery mentality hoping that one day you’ll wake up and voila! discover “the newest, incredibly easiest way to get wealth.”


    Final Word


    Most people remain poor, not because they don’t have the knowledge. Not because they don’t read Kuza Biashara and other business-related articles. But because they don’t LEARN BY DOING. They just don’t get it!
    Being wealthy and prosperous requires more than just physical ownership. It is a state of happiness, well-being while wishing the same for others. So while you are working to escape from poverty, remember to be happy along the way!

    http://www.kuzabiashara.co.ke/blog/habits/

  2. #2
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    Default Only know Property, Lazy way of investing.

    http://www.kuzabiashara.co.ke/blog/working-poor/

    HOW EMPLOYED PEOPLE REMAIN POOR DESPITE WORKING FULL-TIME, SAVING & INVESTING

    It was back in 2007 when a young man whose career was blossoming got wind of a potentially life-changing business idea – investing in shares. Like most people, he had grown up watching TV and reading newspaper articles about the profitability of this kind of business.

    So when Safaricom (the largest telco in Kenya) floated its IPO, he figured out this was his chance to stand to be counted. He took a Ksh1 Million loan from a local bank at an interest rate of 15% per annum. By that time Safaricom shares were trading at Ksh5 and so he managed to purchase 190,000 shares.

    Looking into the future, he was almost assured of being a multimillionaire in a span of 5 years because as most of his fellow investors had expected, the share price would shoot to Ksh25 a piece. Shock on him, a few months down the line the 2008 global financial crisis kicked in, followed by the 2008 Post Election Violence (PEV). The share prices came down tumbling trading to less than Ksh2.50 – a situation that sent the young man into panic mode.

    Things were not looking good and waiting a little bit more into the future certainly did not look like a good idea given that a loan had to be repaid. He hurriedly sold off his shares at Ksh2.10, exited the circa and used the proceeds to settle part of the outstanding loan. In addition to that, he had to part with a portion of his salary for 60 months in order to fully clear the entire amount.

    To make matters worse, as he was still trying to figure out his way out of the murky waters of debt, things started to look up for Safaricom on the bourse with the share price shooting all the way up to Ksh21.00. If only he had waited for a few more years!

    Stories such as this one are not uncommon, it’s only that majority choose to suffer in silence rather than parade their failures for all to see. Certainly, more and more salaried people with seemingly good life and from an educated background are slowly wallowing in poverty. This despite working hard, saving diligently and even investing.

    But why does this happen? We take a look at why educated and salaried people often remain poor despite having all it takes to excel in life.

    (1)Wanting To Hit Two Birds With One Stone

    With a job to keep, a boss to impress and bills to pay, salaried people cannot afford to completely ditch their comfortable 8am to 5pm lifestyle. So they hire and entrust their relatives or village-mates to run the affairs of the so-called side business. And therein lies the problem.

    The first person they hire proves too lazy and unambitious, so they fire him. The second person they hire is a family member who clearly lacks the zeal and expertise to run the business, so once again they fire him when they notice the business is on its deathbed. The third and final person (or the mortician if you may) is usually a former village-mate or an old friend who despite being passionate excels in dishonesty. Before you know it, the once emaciated chap milks the business dry and escapes (not back to the village but to start his own venture using money and experience stolen from the unsuspecting boss.)

    At the end of it all, one is left with no other option than to simply close the business, count losses and repay a loan without getting any value in return.

    (2)Investing Out Of Superfluous Research

    Tell a salaried guy to follow his passion – he will confidently answer you that his only passion is drinking and partying hard all weekend long at one of those shady clubs along Thika Road. Tell them to research about the latest business trends – they will tell you they have no time because they are busy for most of the day working for their bosses.

    End result: they live a superfluous life, devoid of self-awareness and facts. And because they spend most of their time typing “Amen” on Facebook, the only way they know to invest is through half-baked methods.

    Others start hardwares because word on the street has it that there is a “construction boom” in the country only to be shocked about the reality on the ground. Some buy thousands of broiler chicken and keep them without learning the best practices of such business only to lose the entire brood due to an unfamiliar disease.

    Related: 6 Habits That Will Keep Your Poor For The Rest Of Your Life

    (3)Disliking Dirty Jobs

    How dare you tell a whole Branch manager to move door-to-door marketing tomatoes? The only thing these moderately paid office chaps can get dirty doing is changing a tyre of their ex-Japan Toyotas which they bought on loan. They hate doing the heavy lifting.

    And so even when it comes to investing, they look for methods that require least effort to create disproportionate profit levels. Their dislike for odd jobs is what makes them resort to remotely managing their ventures which of course leads to similar consequences as those discussed in point number 1 above.

    (4)Being Out Of Touch With Reality

    The life cycle of a salaried person starts in school where he or she is taught and required to memorize arbitrary formula and theories. Then after 20 years of schooling, they come out, tarmac for a few years and then land a job. And therein lies another problem.

    They end up being out of reach with realities of life. They think they can use the mathematics formula they learned at school to start a business only to be shocked by the fact that the complexity of real life requires more than just text book knowledge to manoeuvre.

    (5)Behaving As If They Just Realized Loans Exist

    Most people live beyond their means and so they don’t save a lot. So even when they hear of a potentially good business idea e.g. buying Safaricom shares like in the case above, their only course of action is to take loans to be repaid in 60 months.

    And because they have what most bankers adore – a regular paycheck – they easily get funded. Little do they know that things like shares are best bought with long-term savings and small start-ups are best nurtured through bootstrapping.

    Loans in business are best taken for scaling up a business, not starting one from scratch!

    (6)Investing Out Of Fear Of Losing Job Not Passion

    Employed people are always worried about the day when their boss will turn against them. Somehow, they know that a day will come and they will be jobless and broke – but they don’t know when.

    So they join the “be your own boss” craze, not because they are passionate but out of fear of the unknown. From past experience less than 20% of businesses started on the fear motive live to see their second birthday.

    (7)Starting In A Big Way

    The reason the salaried class tends to suffer from lifestyle diseases from a young age is because they survive in a rat race. They compete on who takes their kids to the best schools. They brag about their cars and finance expensive ceremonies all in the name of keeping up with the standards.

    But that’s not even the problem. Besides living a “big life” they attempt to take their ‘big ways” into the world of business. So Juma wants to start a spare parts business. He rents a huge front and back office. Hires a receptionist, watchman, cashier, store-keeper and tens of other employees.

    Goes ahead and imports the latest office furniture. Gets an unnecessarily expensive website created. And because his corporate ways have shown him that “image is important” he goes ahead and commissions a grand launch. All this is financed on a loan to be re-payed in 48 months.

    What Juma doesn’t know is that his small business has other more important priorities to deal with. While such image building tactics may help, they may not have a significant effect to the company’s bottomline.

    What truly matters during the early days of a business is its ability to give value to customers through optimal use of available resources. The glamour and grandeur almost always does more harm than good at this stage of growth.

    (8)They Invest In Dubious Land Deals

    If not chained to a 35 year mortgage of an overpriced, poorly finished apartment in Mlolongo or Ruaka, the well-educated guys spend most of their life untangling themselves dubious land deals.

    It’s either they buy into one of those overhyped Green House Kilimo deals where one is told to buy a plot+greenhouse at Ksh350,000 and expect to reap Ksh500,000 per year from the comfort of your couch. Or they are busy buying cheap plots in the middle of nowhere without even taking time to do a search at Government offices or bothering about the title deed. They only come to realize later that they bought hot air.

    Results: they spend decades on end repaying loans without having anything to show for it. Sometimes things get worse and they are forced to put up with endless court cases.

    (9)Lack Of Patience

    Nothing tests your patience better than a small business. And usually, majority of the employed lot are not as patient as they think. The longest they can hold onto an idea is two years…if it doesn’t materialize they give up.

    The only reason they get into business is to “try and see” if it can effectively replace their paycheck. Once they sense nothing of that sort is bound to happen, they pack and go.

    Ever heard of the clothing brand FUBU? Well, just know that they guy behind it had to survive for 9 years without making any reasonable profit out of it. But he was patient because he had a long-term agenda – and yes, long-term agenda is what the salaried class seems to lack when making investments.

    (10)They Lack Financial Discipline

    Although some of them are bold enough to quit their well-paying jobs to start new ventures, they forget about financial discipline. They continue paying rent in the same apartment that gobbled up 50 per cent of their salary.

    They continue to pay for expensive gym and club memberships which were previously being paid for them by the company. In other words, they continue to make a mistake of living beyond their means hence placing too much pressure on the upcoming business.

    Instead of re-investing profits to grow the business, they suckle out all proceeds like merciless pests leaving the once promising business struggling.

    Final Word

    The reason we all wake up early in the morning to go to our places of work is so that we may create a better future for ourselves. But what happens when that very future is jeopardized by our very own misinformed decisions? If you are a full-time worker with plans to invest now, in the future (or even if you have a running business), it’s my hope that you will be alive to these ten poverty-breeding ways and be careful with the kinds of decisions you make going forward.

  3. #3
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    The bad habits you should give up if you want to be successful

    Sometimes, to become successful and to get closer to the person we know we can become, we don’t need to add more things to our lives—we need to give up on some of them.
    There are certain things that are almost universal. These things, if you give them up, will help you become more successful (even though each one of us could and probably should have a different definition of success.)
    Some of them you can give up today, while others might take a bit longer. As the years draws thankfully to a close, it’s worth thinking about what aspects and habits of our lives we should let go of in 2017.

    1. Give up on the unhealthy lifestyle

    “Take care of your body. It’s the only place you have to live.” — Jim Rohn
    To achieve anything in life you need to start with your body. Before you can take care of anything else, you have to take care of your health. On a basic level, these are the two things you need to keep in mind:
    1. Healthy diet
    2. Physical activity
    These might seem like small steps, but you will thank yourself later. Believe me.

    2. Give up the short-term mindset

    “You only live once, but if you do it right, once is enough.” — Mae West
    Successful people set long-term goals, and they know that these aims will only be achieved through short-term habits that need to be observed and maintained every day.
    These healthy habits shouldn’t be something you do; they should be something you are. There is a difference between: “Working out to have summer body” and “Working out because that’s who you are.”
    3. Give up playing small

    “Your playing small does not serve the world. There is nothing enlightened about shrinking so that other people will not feel insecure around you. We are all meant to shine, as children do. It is not just in some of us; it is in everyone, and as we let our light shine, we unconsciously give others permission to do the same. As we are liberated from our fear, our presence automatically liberates others.”—Marianne Williamson
    If you never try to take the big, bold opportunities, or trust enough in yourself to allow your dreams to become reality, you will never realise your full potential.
    This means, in turn, that the world will never benefit from what you could have achieved. So voice your ideas, don’t be afraid to fail, and certainly don’t be afraid to succeed.

    4. Give up your excuses

    “It’s not about the cards you’re dealt, but how you play the hand.”―Randy Pausch
    Successful people know that they alone are ultimately responsible for their actions in life, no matter their starting point, weaknesses, or past failures.
    Realizing that you are responsible for what happens next is both frightening and exciting. But it’s also the best way that you can reach success. Excuses limit and prevent us from growing personally and professionally. Own your life; no one else is going to do it for you.

    5. Give up the fixed mindset

    “The future belongs to those who learn more skills and combine them in creative ways.”―Robert Greene
    In a fixed mindset, people believe that their intelligence and talents are fixed traits. Thus, so this line of logic goes, talent alone creates success — without effort.
    This is wrong. And successful people know this is wrong. Instead of assuming talent will automatically create opportunities, successful people invest an immense amount of time developing a growth mindset, acquiring new knowledge, and learning new skills.
    Remember, who you are today is not who you have to be tomorrow.

    6. Give up believing in the “magic bullet”

    “Every day, in every way, I’m getting better and better” — Émile Coué
    Overnight success is a myth.
    Successful people know that making small continuous improvement every day, will be compounded over time, and give them desired results. That’s why you should always plan for the future but focus on the day ahead of you. Even improving a tiny percentage each day will add up over time. Be patient and trust in the process (and yourself).

    7. Give up your perfectionism

    “Shipping beats perfection.” — Kahn Academy’s Development Mantra
    Nothing will ever be perfect, no matter how hard we try.
    Fear of failure (or even fear of success) often prevents us from taking action, and putting our creation out there in the world. But a lot of opportunities will be lost if we wait for things to be right.
    So, “ship,” and then improve (that 1%).

    8. Give up multi-tasking

    “You will never reach your destination if you stop and throw stones at every dog that barks.”—Winston S. Churchill
    Successful people know this. That’s why they choose one thing and then beat it into submission. Whether it’s a business idea, a conversation, or a workout, focusing all your efforts on a single task will pay dividends.
    This doesn’t mean that you can’t start and complete multiple tasks overall. But being fully present and committed to one task at a time is indispensable.

    9. Give up your need to control everything

    “Some things are up to us, and some things are not up to us.” — Epictetus
    Differentiating these two is important.
    Detach from the things you cannot control, and focus on the ones you can. Everyone needs a reminder that sometimes, the only thing you will be able to control is your own attitude. This isn’t always a fun realization, but it’s an important one.
    And remember, nobody can be frustrated while saying “bubbles” in an angry voice.

    10. Give up saying yes to things that don’t support your goals

    “He who would accomplish little must sacrifice little; he who would achieve much must sacrifice much; he who would attain highly must sacrifice greatly.” — James Allen
    Successful people know this that to accomplish their goals, they will sometimes have to say no to tasks, activities, and demands from friends, family, and colleagues.
    On a short-term basis, this might force you to sacrifice your desire for instant gratification. But when your goals come to fruition, the monetary frustrations will all be worth it.

    11. Give up the toxic people

    “You are the average of the five people you spend the most time with.”―Jim Rohn
    The people we spend the most time with help mold us into our future selves.
    We must surround ourselves with people who make us better, both in our personal and professional lives. Don’t waste time with those who are trying to drag us down or who are content with the status quo. Instead, you should be seeking out people who exemplify the traits and successes you want in your own life. If you surround yourself with people who are more advanced than you, no matter how challenging it might feel at first, you will be more successful. Don’t let your pride hold you back.
    This month, do quick survey of the people in your life and see if you need to make any changes.

    12. Give up your need to be liked

    “The only way to avoid pissing people off is to do nothing important.” — Oliver Emberton
    Think of yourself as a market niche. There will be plenty of people who appreciate that niche, and there will be individuals who don’t. No matter what you do, you won’t be able to make an entire market like you, so stop trying to market yourself for mass appeal.
    Instead, continue improving and contributing every day, and know that a growing number of doubters probably means that you are doing important things.

    13. Give up your dependency on social media and television

    “The trouble is, you think you have time.” — Jack Kornfield
    Impulsive web browsing and television watching is a modern societal disease. These two should never be an escape from your life or your goals.
    Unless your goals depend on either, you should minimize (or even eliminate) your dependency on them. Direct that time towards things that can actually enrich your life instead.
    A version of this post originally appeared on Medium. For more of Zdravko’s productivity hacks, follow this website. Learn how to write for Quartz Ideas. We welcome your comments at [email protected].

    https://qz.com/874527/life-hacks-for...be-successful/

  4. #4

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    What you say is true,but can anyone do all these things?You'd better face the reality.

  5. #5
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    You never try, you never know.

  6. #6
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    GREED - It will keep you poor for the rest of your life
    =====================================================



    Why Do SG Still Continue Getting Conned By These Scams ?

    http://www.mas.gov.sg/IAL.aspx?sc_p=M

    https://www.allsingaporestuff.com/ar...emes-singapore

    Fool me ONCE , shame on YOU.
    Fool me TWICE, shame on ME.
    Fool me 3rd TIME,How STUPID I am.
    Fool me the 4th TIME, I need to be CONDEMNED.
    Fool me the 5th , 6th TIME, Totally hopeless gamblers
    The final tragedy hopeless GAMBLER stage will bring financial disaster to his/her family

    ---------------------------------------------------------------------------------------------------------------------------------------------
    Time and time again, the same old trick is employed, and worked. Most people believe it is govt job to lookout for Scam companies. The Scammers are too smart. So it is not easy for our govt to eradicate completely. The reason why S'poreans are still being conned are :

    1) Blind by GREED. They want ridiculously High Returns.

    2) Impatient. A investor worst quality is impatient. They want make fast money in the shortest time.

    Part-time insurance agent Melissa Lim, 55, invested US$200,000 in a 20-month plan with CFV in Feb 2015. She said she received two payouts each of 15 per cent of her investment sum earlier that year, before the payouts stopped. Mrs Lim and other investors say payments have dried up. In some cases, post-dated cheques from CFV have bounced.
    She said: "These are my life savings and I was hoping to get higher returns by investing them. I thought I could retire early with my savings, but now I have to slog again."

    3) They guarantee your principal but in actual fact it is not. Too easy to believe the salesman talks.

    4) They dont trust CPF. Some S'porean blur blur believe in what ROY ngerng & Han Hui Hui said on CPF scheme. Now both of them are migrating to oversea (Taiwan & European country).

    A classic example of my relative who is a property agents for > 20 yrs, He has made > hundred of thousand & refused to self ontribute cash into his own CPF for retirement. He dont trust the CPF min scheme. With tons of very liquid cash avail. He invested in stock mkt & lost a few hindred thousand of $ on stock. I cant believe he gave $20k to his 23 yrs old son to play FX. His son lost $20k within 2 wks. Now with slow down in property sector. He quite worry about his retirement.


    -----------------------------------------------------------------------------------------------------------------------------------
    Our CPF money is primarily for retirement funding. Not for other purpose like paying for your mortgage loan unless if u have no choice. When your finance health is much better. You should switch back from CPF to cash..Do not use your CPF for speculative investment.
    My suggestion is to meet the ful retirement sum (FRS) as young or early as possible by transfering your CPF OA (2.5%) to CPF SA (4%) if you have the capablilty or excess cash. Tgt by age 35 to 40. If the person has already met or exceeded the FRS ($166k minimum Sum), the annual interest earned in your CPF SA (4%) would take care of the increase in FRS ( range 2.5% to 3.5%). Once you have achieved your full retirement sum of $166k. You know that even somehow you encountered bad luck of being SCAMMED. You know at least your still have enough CPF $ for basic retirement.
    I suggest you self cash contribute to your CPF through the AXS machine. Can be as little as $100 & as & when you like to contribute..
    Remember it forever.


    人无远虑, 必有近忧. If one has no long-term considerations, he can hardly avoid troubles every now and then.; He who has no anxious thoughts for the future will find trouble right at hand.; If a man is not farsighted, he is bound to encounter difficulties in the near future.; Those who do not plan for the future will find trouble at their doorstep

  7. #7
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    Your relative should have bought a condo. Last time downpayment only 20%. The tenant will pay for the balance 80% over 30 years. And he will then have 3K per month of income.

    Today, it is tenant paying 60% of the house but still a good deal. The issue happens when 1 ages, the tenure becomes and issue....

  8. #8
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    Quote Originally Posted by cbsh38584 View Post
    GREED - It will keep you poor for the rest of your life
    =====================================================



    Why Do SG Still Continue Getting Conned By These Scams ?

    http://www.mas.gov.sg/IAL.aspx?sc_p=M

    https://www.allsingaporestuff.com/ar...emes-singapore

    Fool me ONCE , shame on YOU.
    Fool me TWICE, shame on ME.
    Fool me 3rd TIME,How STUPID I am.
    Fool me the 4th TIME, I need to be CONDEMNED.
    Fool me the 5th , 6th TIME, Totally hopeless gamblers
    The final tragedy hopeless GAMBLER stage will bring financial disaster to his/her family

    ---------------------------------------------------------------------------------------------------------------------------------------------
    Time and time again, the same old trick is employed, and worked. Most people believe it is govt job to lookout for Scam companies. The Scammers are too smart. So it is not easy for our govt to eradicate completely. The reason why S'poreans are still being conned are :

    1) Blind by GREED. They want ridiculously High Returns.

    2) Impatient. A investor worst quality is impatient. They want make fast money in the shortest time.

    Part-time insurance agent Melissa Lim, 55, invested US$200,000 in a 20-month plan with CFV in Feb 2015. She said she received two payouts each of 15 per cent of her investment sum earlier that year, before the payouts stopped. Mrs Lim and other investors say payments have dried up. In some cases, post-dated cheques from CFV have bounced.
    She said: "These are my life savings and I was hoping to get higher returns by investing them. I thought I could retire early with my savings, but now I have to slog again."

    3) They guarantee your principal but in actual fact it is not. Too easy to believe the salesman talks.

    4) They dont trust CPF. Some S'porean blur blur believe in what ROY ngerng & Han Hui Hui said on CPF scheme. Now both of them are migrating to oversea (Taiwan & European country).

    A classic example of my relative who is a property agents for > 20 yrs, He has made > hundred of thousand & refused to self ontribute cash into his own CPF for retirement. He dont trust the CPF min scheme. With tons of very liquid cash avail. He invested in stock mkt & lost a few hindred thousand of $ on stock. I cant believe he gave $20k to his 23 yrs old son to play FX. His son lost $20k within 2 wks. Now with slow down in property sector. He quite worry about his retirement.


    -----------------------------------------------------------------------------------------------------------------------------------
    Our CPF money is primarily for retirement funding. Not for other purpose like paying for your mortgage loan unless if u have no choice. When your finance health is much better. You should switch back from CPF to cash..Do not use your CPF for speculative investment.
    My suggestion is to meet the ful retirement sum (FRS) as young or early as possible by transfering your CPF OA (2.5%) to CPF SA (4%) if you have the capablilty or excess cash. Tgt by age 35 to 40. If the person has already met or exceeded the FRS ($166k minimum Sum), the annual interest earned in your CPF SA (4%) would take care of the increase in FRS ( range 2.5% to 3.5%). Once you have achieved your full retirement sum of $166k. You know that even somehow you encountered bad luck of being SCAMMED. You know at least your still have enough CPF $ for basic retirement.
    I suggest you self cash contribute to your CPF through the AXS machine. Can be as little as $100 & as & when you like to contribute..
    Remember it forever.


    人无远虑, 必有近忧. If one has no long-term considerations, he can hardly avoid troubles every now and then.; He who has no anxious thoughts for the future will find trouble right at hand.; If a man is not farsighted, he is bound to encounter difficulties in the near future.; Those who do not plan for the future will find trouble at their doorstep
    Only one word, BIG DATA lower down your risk.

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    -: 11-01-19, 20:45
  2. Pay 30% the rest 1 year later.
    By Arcachon in forum Coffeeshop Talk
    Replies: 4
    -: 22-09-18, 15:04
  3. Replies: 23
    -: 27-11-13, 10:27
  4. Even Rich Dad, Poor dad auhor becomes a poor dad
    By dtrax in forum Coffeeshop Talk
    Replies: 50
    -: 12-10-12, 15:40
  5. WP rep is cool....but the rest.....
    By devilplate in forum Coffeeshop Talk
    Replies: 579
    -: 14-09-11, 22:48

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