I'm thinking of my future wealth...Let’s see, I have not been updating my Blog for a few days now. Firstly, there seems to be a sense of laziness that has crept into me and secondly I have a dearth of ideas to contribute in here.
But, that’s all in the past now, as I have fully recovered and charged my momentum to continue my writing. What shall I update in here?
Oh yes, I will talk about the accumulation of wealth and the age related to it. I was having a chat with an ex colleague whom I ‘outed” who is now based in London.
Let’s name him Bamboo Pole (for he is very tall and skinny) and I believe from my last chat with him, he is still the same although he has all these good food from UK. I guess some people are just blessed in the sense that whatever they stuffed inside, it’s still not gaining any weight for them. Perhaps their metabolism is so high that they actually burn fats very fast!
So BP was asking how I was and he updated that he is now working in a new company. In the office he is based in, there is usual the number of very cute ang-mohs and he has this fondness of elaborating them to me. I told him the next time, please supply with pictures, as words must be matched with the evidence, right?
In our midst of mindless chatter, BP suddenly turned serious and asked me about accumulating wealth and such. Now, BP looks up to me as a big brother (due to my age difference and the fact that I’m older than him), and as a matter of fact, asked me about what level of wealth should he be attaining at his tender age of 26.
It was the first time, we have delved on such a serious topic that I just had to mull over for a while before answering him. Then, I looked back at my own experience and noted that at that age, I was still working and did not accumulate much wealth. Usually, a person who have done tertiary education and have graduated, they would have just begun their working life. So, in terms of accumulation of wealth is very much not possible unless you were born with a silver spoon in your mouth!
But, there are others who have not graduated but have gained working experience overseas, have an upper hand to us who have just graduated and joined the working force. I’m referring to those who have worked in rich countries like UK or Europe and their earnings are like 4-7 times more in terms of currency exchange rate.
But, that’s all in the past now, as I have fully recovered and charged my momentum to continue my writing. What shall I update in here?
Oh yes, I will talk about the accumulation of wealth and the age related to it. I was having a chat with an ex colleague whom I ‘outed” who is now based in London.
Let’s name him Bamboo Pole (for he is very tall and skinny) and I believe from my last chat with him, he is still the same although he has all these good food from UK. I guess some people are just blessed in the sense that whatever they stuffed inside, it’s still not gaining any weight for them. Perhaps their metabolism is so high that they actually burn fats very fast!
So BP was asking how I was and he updated that he is now working in a new company. In the office he is based in, there is usual the number of very cute ang-mohs and he has this fondness of elaborating them to me. I told him the next time, please supply with pictures, as words must be matched with the evidence, right?
In our midst of mindless chatter, BP suddenly turned serious and asked me about accumulating wealth and such. Now, BP looks up to me as a big brother (due to my age difference and the fact that I’m older than him), and as a matter of fact, asked me about what level of wealth should he be attaining at his tender age of 26.
It was the first time, we have delved on such a serious topic that I just had to mull over for a while before answering him. Then, I looked back at my own experience and noted that at that age, I was still working and did not accumulate much wealth. Usually, a person who have done tertiary education and have graduated, they would have just begun their working life. So, in terms of accumulation of wealth is very much not possible unless you were born with a silver spoon in your mouth!
But, there are others who have not graduated but have gained working experience overseas, have an upper hand to us who have just graduated and joined the working force. I’m referring to those who have worked in rich countries like UK or Europe and their earnings are like 4-7 times more in terms of currency exchange rate.
So, if they were to come home, definitely, they will gain a lot compare to those who have to earn local currency like our Ringgit which keeps on sinking further to the deepest abyss.
Having said that, I did work in Singapore before and by that time, when I got home, the exchange rate at the moment was still cheaper i.e. SGD 1 – RM 1.70 and if you compare now, its already RM 2.40. I’m devastated and wish I had not come home so soon! But, a lot of things were not predictable and from now on, I have yet to achieve that perfect or ideal way of seeing into the future.
I take comfort that I still have some CPF savings safely tucked up and that a portion of it have been used to invest in FOREX namely Australian Dollar. I’m amazed at the strength of the Aussie Dollar and cherish in delight that it’s gaining each day (although I can only take that savings only when I reach 55).
Coming back to BP, I told him that it does not matter where you stand at the moment but its good to set aside at least 10% of your salary for savings. If you have a pension fund like we have in Malaysia, I told him perhaps in the UK there are some sorts of funds available; invest in them and this will force BP to save precious £ in them. Once, he has attained a certain age that will form a basis of his savings for him.
If not, perhaps he can do some investing in the stock market but it’s a bit risky if you are not careful. Stock markets present easy money but come with a big tag of risk with it. For this reason, I told BP to invest with care and get help if he can. As I’m unsure of the working of the UK system, I told him to have a word with one of the qualified investment analysts there.
BP did pose a question to me saying is this the right age to get a place of his own? What do you mean by getting a place of your own, buy or rent? I know that London is the most expensive city in the world so, if BP is really rich enough, then, maybe he can consider having this option to buy but if he is still struggling on, then, maybe, he will have to consider other choices.
For this reason, right or wrong does not come into the picture. There are people who are way past their 30-s and still do not possess a valid driving license, let alone a car!
So the measurement of wealth is very subjective for each person, for some are cash rich, some are asset rich, and so on. Better be either one than not at all, because when we do get older, there will heaps of things for us to look into and I mean, judging by the inflation rate of which we are heading to, better to have some sort of savings; even if that savings is considered not enough!
Therefore, how do we get rich or have enough when we get older? Buy lottery? Gamble? Or better still, get a rich sugar daddy?
will u buy me a LV...?
2 comments:
I don't do saving... yet! Come on, I am a fresh grads who worked for only two years now. Will start soon though!
Well having a good wealth is nice. But enriching your life is much more important.
when can I start saving......sad sad.........if you met any sugar daddy plz intro to me as well...hahahahahaha......
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