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.

Click to email CW8888 or Email ID : jacobng1@gmail.com



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, 19 September 2015

Book : The Busy Doctor's Investment Guide


Okay. Got another unread investment book to borrow from NLB.

Hmm ...

Wah!


"And being frugal was all I had learned from my dad about money. But fragility carries with it a scarcity mentality." ....



This is the first time Uncle8888 read about unfavorable view on frugality from an investment author. Uncle8888 tends to agree. Not sure how many of us may tend to agree?


Our unspent money can never disappear. It will be eventually spent by others or even spent by some strangers who became close "friends".






10 comments:

  1. I agree. The crudest idiom for the reverse is nothing ventured nothing gained. But that idiom to the uninitiated who didn't learn about profit making and all its complementary skillsets (and an S, yes!) will be of as much use as YOLO.

    Careful now, you are venturing into adam khoo, anthony robbins territory.

    The same people who dismissed their teachings as snail oil missed the point. The point is to have a can do attitude (useless by itself) and actually believe you can change your own faith and take action to do it. And some times it takes a course or seminar to do it. And sometimes, it doesn't happen. We could have been too thick skulled.

    How does this relate to the above? It is not about a scarcity mindset but the mindset of disbelieving you can do anything about your circumstances.

    The moment you stop taking actual steps towards your goals, you are done. I don't believe in trying. I believe in doing. And if you are wrong, do something else. But always be doing.

    ReplyDelete
    Replies
    1. "Do or Do not. There is no try" - Master Yoda

      You also Giant ant?

      Ha ha.

      Delete
  2. CW,

    If can fly with 2 wings the best!

    But if I had to choose one, I'll choose Earn more.

    Earn more or Save more?

    ReplyDelete
    Replies
    1. Ya. Agreed!

      But, some insects with two wings look more like fiddler crabs' claws which are spectacular violators of symmetry in nature, with their major claw being many times larger than their minor claw.

      Delete
  3. Frugality is a virtue if practise with understanding of when to be frugal when not to be.

    "Not that you don't have money to spend;
    To buy only if you need it.
    To buy only up to the value of meeting your need.
    To buy only, never to keep up with the Joneses."

    The above is my principle of Spending Money base on FRUGALITY, which i have shared with my son.
    And WB confirmed for me.
    Just imagine the riches man or one of the riches man said,
    "If you buy things you don't need, you'll soon sell things you need. ...
    Ever wonder why he still one of the riches man?

    ReplyDelete
    Replies
    1. Later Botak comes and say you hide behind Big Man hor!

      Delete
    2. CW,

      You har!

      Want to poke temperament you poke directly lah!

      Hide behind me for what?

      Tsk, tsk...

      Delete
  4. What hide?
    We have been practising a kind of frugality even after we made our first 100K from the stock market.
    It's even before my son was born.
    He's 26 now.
    And i did not say i followed WB.
    i said he confimed it for me.
    Also i just come across this quotation of his only very recently.
    So who is copying who?
    Still don't know leh!
    Joking only lah!

    ReplyDelete

Related Posts with Thumbnails