Newbies Blog: Learning from an "old" friend

It being a weekend, it was a break from stock watching and I picked up a book which I used to enjoy read, Rich Dad, Poor Dad from Robert Kiyosaki.

It felt like a refresher as well as a stock take, to see how much I've learnt and applied. It also brought me back to why I started investing in the first place.

One of the lessons I've learnt from him is to separate assets from liabilities. It was important to discern what cost you money and what made you money. The ultimate goal was to increase what made you money, or assets and make it more than what cost you money, or liabilities. Remembering this was what got me started in investing as well as my choice of investing in stocks. I wanted an alternative source of income which could appreciate in addition to my day job. This is so I could increase my liabilities.

This idea also made me choose $DBS GROUP HOLDINGS LTD(D05.SI)$  which pays dividends, in addition to possible stock value appreciation as long as I held it. Right now, I am trying to see if I can hold more, so that it increases my net flow coming from assets.

Another lesson which I thought was valuable was to Mind my own Business. As much as I aspire to have sources of passive income, it is often said that the best and most stable income is your day job. Honestly, I know that's the "Poor Dad" in me speaking and in terms of what I read from the book, it is this mindset which keeps people in the rat race. It's the fear of losing that stable source of income that prevents us from being great entrepreneurs.

My thoughts? Well, my day job has helped me get capital to invest and thus get an alternate source of income (through stocks and real estate). It has helped me increase my number of assets which provide passive income. It is also a source of assurance in this volatile times.

Of course, I also remember the first time I started to invest on $Tiger Brokers(TIGR)$  . I remember feeling very apprehensive about losing money. It was that first step and fear I had to overcome. Today, while I am in the red, I am less fearful of losing money, but concentrate long term. The losses served as a valuable lesson for me in taking a forward step in increasing my assets. Thinking about it, I will overcome this losses with continuous collection of dividends, reinforced by increasing the number of stocks under my holding.

In all, this book has been crucial in allowing me to learn the difference between assets and liabilities. Indeed, one thing that resonates with me is learning to understand that my own house, my single largest purchase, is not an asset but a liability as it does not generate income for me (instead, it did take out a large chunk of my investment ability). Combined with a lesson on only buying luxuries last, this has reinforced my thinking in planning to spending more on stocks/assets than upgrading my house. I thought this was important as it teaches me to work hard first before allowing me to receive "my rewards".

Thanks for reading, friends. I will share more as I learn more.

@CaptainTiger  @MillionaireTiger  @TigerStars  @TigerEvents  

# Why did You Start Trading or Investing?

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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  • Axekay
    ·2022-12-21
    just wondering, why is it a sell for $Tiger Brokers(TIGR)$ ?
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    ·2022-12-21
    like
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  • vinH
    ·2022-12-19
    👍
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    ·2022-12-19
    K
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  • juzmaus
    ·2022-12-19
    ok
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    ·2022-12-19
    hi
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    ·2022-12-19
    ok
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  • LiYen
    ·2022-12-19
    OK
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  • 招财进宝的我
    ·2022-12-19
    yes
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  • Fishabeng
    ·2022-12-19
    [Happy]
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    ·2022-12-19
    k
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  • Fishabeng
    ·2022-12-19
    [Smile]
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  • Fishabeng
    ·2022-12-19
    [Smile]
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  • Fishabeng
    ·2022-12-19
    [Smile]
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  • ARG
    ·2022-12-19
    👍👍👍
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