Sociable

Saturday, August 2, 2008

Third Step to Financial Freedom

Set your financial goal. A goal that will give you financial freedom.

My goal is to have my first million saving at age 40.

So I have ten years to achieve it.

So I got to save:
$100000/year.
$8334/mth.
$269/day.

If I depend on my current job, I will not be able to make it. So I got to have 2nd, 3rd and maybe 4th sources of income in order to achieve my financial goal.

I have already invest in Singapore stocks but due to the sub-prime crisis and US financial credit crisis, I am in the red zone.

Some of the stock I am holding:

1) China Energy
2) Chasen
3) Gent Int
4) Orchard Parade
5) Synear
6) Sky Petrol
7) Yongnam

It still not enough by holding this stock if they don't earn me any money and I won't be able to reach my goal. But at least I set my goal and will keep monitoring till I reach it. My next move will be setting up online business once I get the know-how to get web traffic.

2 comments:

Wealth Journey said...

Don't just concentrate on buying singapore stocks.
Buy US, buy HK, buy Aussie, buy Europe..

If you can't do that, buy ETFs..

Sam said...

I agree with you but i have reason for only investing in SG stock now.

- I am new to stock market. So I need to gain more knowledge before entering into a new market.

- I am looking for low brokerage from US to trade in US stock market. SG brokerage firm commission is quite expensive and not worth to use for US market.

Pls advise if you have any suggestion/solution to my problem.

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