With the mind flip in Dec 1999, Uncle8888 went all out to set his goals, plans and strategies to create wealth through Short-Term Trading and Long-Term Investing in our local stock exchange (SGX).
From 1 Jan 2000 to 31 Dec 2013: 14 years of long journey
Without additional funding of capital since Jan 2000 (A single household income with 5 mouths to feed, it was really tough to find any spare money to invest as there were always another competing needs to spend and higher priority to add more into emergency fund as when we become older ;we become more fearful of losing our job); it took him 14 years to finally complete his Investing Goals set out in Jan 2000 with some margin of safety going forward into retirement income for life phase.
After 14 years of investing and trading experiences, Uncle8888 is more convinced and more biased towards Long-Term Investing approach with Growth-Dividend strategy as we are more likely to achieve our long-term Investing Goals in a shorter time frame.
Look at the above diagram again.
Are your Investing Goals similar?
Uncle8888 believes there will be several short windows of opportunity in terms of weeks over the future market cycles to create wealth. But, you must definitely plan for them with sizable War Chest and decisively seize them when the opportunities may seem to appear and that means your Account Size Really Matters as there may be false start!
“Be Fearful When Others Are Greedy and Greedy When Others Are Fearful” ― Warren Buffett
Read? More on Mind Flip
Uncle8888's Investing Performance Benchmarking
1. Against Well-known Investors
He still have more rooms for improvement over the next 6 years (20 Years of Investing from Jan 2000 to Dec 2019)
2 . Against Self (Human Asset) : Earned Income from his Full-Time Job
Over the last 14 years (from 1 Jan 2000 to 31 Dec 2013), his Earning* from Investment is about 46% of his Total Earned** Income after Income Tax from his full-time job.
* Earning means it is always work-in-progress and subject to market volatility.
** Includes Employee and Employer's CPF Contributions
It could have been better!
Now, Uncle8888 believes he is more ready than in Jan 2000; hopefully it could be better.