An important lesson from Intel stocks for single digital millionaires
We’re going to make today’s lesson a quick one: even though most of you have heard it before, what I show you next is a very graphic representation of it. So let’s head over to Reddit, where one person on Wall Street Bets had this to day: “Grandma died 2 months ago. Left me $800k […]
Why “the Turkey problem” is worse for single-digit millionaires
If you’re unfamiliar with Nassim Nicholas’ Taleb’s “turkey problem,” it goes something like this: Every day, a turkey gets fed by a farmer. This happens day-in, day-out, without fail. This greatly increases the turkey’s confidence, as there’s never been any deviation from the pattern. The turkey has no impulse to flee the farm, or look […]
How to survive and thrive despite the 2024 market crash
Now that the shockwaves have settled, it’s time to take stock (pun intended) of the financial situation. On 5th August, the Dow was down over 1,000 points, and the Nasdaq fell 3.5%. Meanwhile, Japan saw it’s biggest stock market crash since 1987, with the Nikkei losing 4,451 points and closing 12% down. This is on […]
If you’re a single digit millionaire, property cooling measures are on your side. Here’s why:
Single digit millionaires are the demographic most likely to buy a private condo, either by upgrading from an HDB flat, or by buying a small unit as a first-timer. For this reason, a lot of single digit millionaires look at property cooling measures, and think the Singapore government is trying to sabo them. But in […]
3 financial products for people who hate losing money above all
There’s a saying that making money is hard, but keeping money is even harder. That’s especially true if you’re not into reading prospectuses, constantly switching between banks, and deep-diving into financial product descriptions that, quite frankly, could bore a cactus to death. Some of you want a safe place to park your money, and not […]
The real benefits of sending your children abroad for studies
Full disclosure: I was sent abroad to study at 14 where I lived in a boarding school, and eventually got my degree from London. I’m often asked if it was worth the expense. Indeed, one of the first considerations of many single digit millionaires is their children’s education: now that it’s plausible to send them […]
My mum only worked odd jobs, but she managed to leave us over $1 million
SH is a high-powered Singaporean mum, currently working in business development and raising a son; but she was as surprised as she was sad when her mother passed recently, and left her a stunning sum of just over $1 million (excluding the value of her flat, by the way). Despite her mother only having Primary […]
How my FIRE plans almost died with my dad’s passing
Being able to retire earlier is a common aspiration these days, and a central topic among the (Financial Independence, Retire Early) FIRE crowd. Gavin (not his real name) was well on his way with this financial goal, where the plan was to retire by 45, and start his own apparel line. But despite doing everything […]