Tuesday, October 11, 2011

Turning 31...so what next?

I am writing this post in view of myself turning 31.
Let me re-cap what I had done so far.
Started this personal finance journey after reading a couple of books, came to realise most personal finance book talk about similar stuff.

I get to know about this thing called Magic of compounding. It simply rule of 72, it justsimple lets say u have 1000, to make this amount double, just divide 72 by the interest rate (annum) to know how long it takes. For eg, 8% per annum will be 72/8 = 9 yrs. 4% will be 72/4 = 18 years for amount to be doubled, provided all interest are not taken out and left to compund.

I read from "The richest man in Babylon" the 7 golden rules ( I may write more about it later)
  1. Start your purse to fattening
  2. Control your expenditures
  3. Make your gold multiply
  4. Guard the treasures from loss
  5. Make of your dwelling a profitable investment
  6. Insure a future income
  7. Increase the ability to earn.
I started investing in the stock market and begin my journey as a 1-lotter, as I do not have too many eggs yet I want to diverse my investment.

Started to earn some dividends from stocks that I had owned.

Saw my portfolio decrease by 10% due to the recent volatile market.

Things I want to do for the following year:
If possible, try to increase my salary.
Try to invest more.
Learn to read annual reports, put those I learn to use.
Learn TA, if possible try to do charting to know when I should enter or exit the market
Save my dividends, currently I am eating them up.

Ok what else? I really quite clueless.
Everything starts with a small step.
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3 comments:

  1. la papillionOctober 11, 2011 at 6:00 AM

    Hi,

    Yoda said, "Do or do not. There is no try".

    ReplyDelete
  2. Singapore Man of LeisureOctober 23, 2011 at 2:20 AM

    Hello Kappo,

    No wonder I sneezed today (23 Oct)! Saw in LP's cbox you talk about me with Cory-in-Narita. Wink wink.

    Like in the Maybelline ad's tagline - give yourself a treat for 2011 - you are worth it!!!

    Ah! 31, such a beautiful age. I remember I had hair then... Hey! That's when your hormones will kick in right? Tip: Stock up on Redbull for hubby. No need wink wink. You know I know. LOL!

    ReplyDelete
  3. PanzerGrenadierNovember 13, 2011 at 5:48 PM

    Hi Kappo

    A journey of a thousand miles starts with a single step. It's great that you've started on this journey. The key is to be patient and work out how you intend to walk along this journey towards financial freedom.

    Be well and prosper.

    ReplyDelete

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