As from April 2013 my Journey in Investing is to create Retirement Income for Life till 80 years old for two over market cycles of Bull and Bear.

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Welcome to Ministry of Wealth!

This blog is authored by an old multi-bagger blue chips stock picker uncle from HDB heartland!

"The market is not your mother. It consists of tough men and women who look for ways to take money away from you instead of pouring milk into your mouth." - Dr. Alexander Elder

"For the things we have to learn before we can do them, we learn by doing them." - Aristotle

It is here where I share with you how I did it! FREE Education in stock market wisdom.

Think Investing as Tug of War - Read more? Click and scroll down



Important Notice and Attention: If you are looking for such ideas; here is the wrong blog to visit.

Value Investing
Dividend/Income Investing
Technical Analysis and Charting
Stock Tips

Saturday, 9 October 2010

I want to be richer but .... (2)

Read? Self imposed limits: LP shares

Read? I want to be richer but ....

"I think for those who think they are not the privileged ones to save 500k, they should really scrutinize their limiting beliefs and break as many of them as possible. Test the limits of your boundary by taking small steps; you might find that these boundary cannot and will not restrict you if you do not wish them to do so." - LP

"The journey will definitely be accompanied by naysayers. People who say it cannot be done should not interrupt those who are doing it." - LP

Wise words. I think I should share it further ....  Concepts, Believe, and Goals

Future Saving - Get Real!

Unless you don't get married or get married but no kids or get married with only one kid; and besides that also don't get caught in between needy parents at the top and hungry kids at the bottom.

I know what I am talking as I was there before with a single income to support a penniless father and a wife with three growing kids. More saving is practically out! As parents, we may find it extremely difficult to squeeze out expenses on our growing kids to increase savings.

An alternative is to increase earning by:

Look for a better paying job?
Work harder like a Rat in the office to try to move up the corporate ladder?

These are the options until one day I fully understood the Concepts.

Understanding Concepts

Read? Money Mind and mindset (Re-visit)

Believe
 
Read? Your First $100K realized profit from the stock market? - (2)

Read? Earning More Than Your Boss?

Read? Freedom at 44

Read? Retire young, retire rich

Unlike some of you, every month or at least every year you still have fresh capitals coming in for investment but I don't. I really have little fresh capital incoming in other than those coming from CPF investment account. So my only hope is to compound my gains in the stock market.

Goals

Not much use even if you can fully understand the concepts and strongly believe it but without setting realistic Goals and track it; it may be harder to make it!

Read? Goals - Part 2

Read? Your Personal Investment Goals

1 comment:

  1. wow , seems like we are in same situation, i need to feed my father, mother, pet dog, son and wife :)

    ReplyDelete

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