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PR Newswire
03-04-2015, 12:20 AM
http://business.asiaone.com/personal-fin...now-it-yet
1. You've put more money in investing than you have in investment books and seminars
If you've put so much as $100 toward an investment fund, congratulations.
You're way ahead of people who haven't put one cent in an investment fund, but who've spent thousands on trading seminars, get-rich-quick schemes, and finance books (of which they've read maybe 10 pages of each).
One of the keys to successful investment is to start early. And while I'm not dissing homework (by all means, understand what you invest in), Singaporeans too rarely accompany book learning with actual action.
2. You reach 35 with no credit card debt
At around 30, most of us start making major financial decisions.
This is the age when we're getting married, buying a house, and wondering why every song on the radio now sounds like a car accident.
It's also when we're earning more than we're used to (beyond entry level pay), which translates to higher credit ceilings.
The combination of factors explains the number of frequent revolvers out there. And as a frank admission, even I ended up as one of them for a while (medical bills).
If you've managed to avoid it, you have a tighter grip on your finances than a lot of your peers.
3. You know what an index fund / exchange traded fund is
Many new investors fall prey to expensive asset management schemes, overpriced insurance policies, or outright Ponzi schemes.
Sooner or later, they'll find that index funds deliver better returns at lower costs. The only reason they're not in everyone's portfolio is that they're less advertised - few fund managers or financial advisors will recommend a product that brings them little to no commission.
So if you actually know about ST Index funds, or are already invested in them, you've got a better sense of financial markets than Joe Average.
- See more at: http://business.asiaone.com/personal-fin...jHisj.dpuf
1. You've put more money in investing than you have in investment books and seminars
If you've put so much as $100 toward an investment fund, congratulations.
You're way ahead of people who haven't put one cent in an investment fund, but who've spent thousands on trading seminars, get-rich-quick schemes, and finance books (of which they've read maybe 10 pages of each).
One of the keys to successful investment is to start early. And while I'm not dissing homework (by all means, understand what you invest in), Singaporeans too rarely accompany book learning with actual action.
2. You reach 35 with no credit card debt
At around 30, most of us start making major financial decisions.
This is the age when we're getting married, buying a house, and wondering why every song on the radio now sounds like a car accident.
It's also when we're earning more than we're used to (beyond entry level pay), which translates to higher credit ceilings.
The combination of factors explains the number of frequent revolvers out there. And as a frank admission, even I ended up as one of them for a while (medical bills).
If you've managed to avoid it, you have a tighter grip on your finances than a lot of your peers.
3. You know what an index fund / exchange traded fund is
Many new investors fall prey to expensive asset management schemes, overpriced insurance policies, or outright Ponzi schemes.
Sooner or later, they'll find that index funds deliver better returns at lower costs. The only reason they're not in everyone's portfolio is that they're less advertised - few fund managers or financial advisors will recommend a product that brings them little to no commission.
So if you actually know about ST Index funds, or are already invested in them, you've got a better sense of financial markets than Joe Average.
- See more at: http://business.asiaone.com/personal-fin...jHisj.dpuf