I was invited as a panelist to share my investing experience at Invest Fair 2017 at Suntec Convention Halls last Sunday, together with Jes (SimplyJesMe), Brian (ForeverFinancialFreedom) and Alison (Heartlandboy) and Mark Cheng (Moderator from MoneySmart). The topic given is Investing in 20s, 30s and 40s, and looks like I was invited to represent the 40s and retirees because the other 3 panelists are in 20s and 30s.
Investing in 20s:
As most people just start to get in touch with investing, how should one educate themselves on investing and the fundamentals of financial planning?
Kenny:
In general, I find that there is a lack of financial literacy in Singapore. If given a chance for me to start all over again after I graduated from the university, I would like to find an experience mentor to guide me on the Life Stage Financial Planning Process and invest in myself to equip myself as much financial knowledge as possible. I have wasted the first 15 years since graduation losing money investing into something I don’t understand like Time Shares, Land banking, oversea properties, Singapore S-chip, Singapore blue chip (Creative Technology, Chartered Semiconductor, etc).. Basically I have wasted my previous time and my money doing trial and error and give hefty tuition fee to the investment world.
Investing in 30s
Most people would say that 30s is the best time to take risk, what are your view on this?
Kenny
There are always risks in investing. No investment is guaranteed in this world. Risk Management is one of the important skills one should master before investing. Invest in something that you can sleep well at night and can afford to lose. A sole bread winner in 30s who needs to support his / her family, children, elderly parents without any insurance protection is not suitable to invest in risky asset classes with lock in period. Everyone’s risk tolerance is different at different life stages.
Investing in 40s
This is the stage when we are reaching retirement age, how should this affect our assets management and investment portfolio?
Kenny
We have to prepare for loss of jobs and reduce in income.
We also start to visit hospital or clinics more for ourselves and taking care of our elderly parents. Hospital will probably one of the most visited places for the rest of our lives from now onward.
source : https://www.investingnote.com/posts/204475
Investing in 20s:
As most people just start to get in touch with investing, how should one educate themselves on investing and the fundamentals of financial planning?
Kenny:
In general, I find that there is a lack of financial literacy in Singapore. If given a chance for me to start all over again after I graduated from the university, I would like to find an experience mentor to guide me on the Life Stage Financial Planning Process and invest in myself to equip myself as much financial knowledge as possible. I have wasted the first 15 years since graduation losing money investing into something I don’t understand like Time Shares, Land banking, oversea properties, Singapore S-chip, Singapore blue chip (Creative Technology, Chartered Semiconductor, etc).. Basically I have wasted my previous time and my money doing trial and error and give hefty tuition fee to the investment world.
Investing in 30s
Most people would say that 30s is the best time to take risk, what are your view on this?
Kenny
There are always risks in investing. No investment is guaranteed in this world. Risk Management is one of the important skills one should master before investing. Invest in something that you can sleep well at night and can afford to lose. A sole bread winner in 30s who needs to support his / her family, children, elderly parents without any insurance protection is not suitable to invest in risky asset classes with lock in period. Everyone’s risk tolerance is different at different life stages.
Investing in 40s
This is the stage when we are reaching retirement age, how should this affect our assets management and investment portfolio?
Kenny
We have to prepare for loss of jobs and reduce in income.
We also start to visit hospital or clinics more for ourselves and taking care of our elderly parents. Hospital will probably one of the most visited places for the rest of our lives from now onward.
source : https://www.investingnote.com/posts/204475
No comments:
Post a Comment