For the past few days I have been doing spring cleaning and happened to flip through my investment notebook. I went through some of the interesting lessons learnt during the period 2007-2009.
The collapse of the Lehman Brothers really change the investment world forever and the old strategy of holding stocks for the long-term for capital appreciation may no longer works.
In view of this, we need to equip ourselves with well-planned strategies to protect and grow our wealth. In 2009, I had made three guiding principles for investment.
Invest in myself
Many people, myself included, tends to chase the money and invest in everything under sun (stocks, ETF, property,gold, unit trust, etc). Everything, except themselves. We may not realize that our knowledge, ability and skills are the most precious assets that enable us to make critical judgement calls to generate income through jobs, sales, investment and business activities.
Henceforth, most of us tend to neglect investments on acquiring new knowledge or skills. I had told myself that I must acquire or gain new mastery of knowledge in niche areas like precious metals and real estate investment trusts.
Invest in health
As cliche as it might sound, health is really wealth, this is especially so in an expensive society like Singapore. Many Singaporeans slogged hard in their 20s and 30s, neglecting their health and ended up suffering in poor health in their 40s and 50s. Most of them rely on their family members to help them cope with the hefty hospitalization bills and medical fees.
I made a resolution to eat healthier food and jog at least twice a week.
Invest in family and friends
Making money is important but what is the point of winning the world but losing your soul? Family and friend supports can pull us through times of crisis. For this coming year, I want to spend more quality times with my family and touch base with my friends more often.
Looking back, I am glad that I am going to achieve my last resolution soon.
I am expecting my first baby girl in two months time. So excited.
I wish all my readers a happy chinese new year. Gong Xi Fa Cai!!
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SG Wealth Builder