Tuesday, March 16, 2010

FAQ about SgFinancialFreedom

Here are some frequently asked questions about sgfinancialfreedom:

Q: How do you compute your networth?
A: I compute my networth by adding my family's assets subtracted by liabilities. Assets include items like house, car, bank deposits, stocks, insurance moneys while liabilities include things like housing loan, car loan and other outstanding debts.

Q: Are you financially free?
A: No.

Q: How old are you?
A: 28 years old

Q: Did you serve National Service in Singapore?
A: Yes, I did.

Q: How much do you earn from adsense/blogging?
A: I earn an average of $30 to $60 per month

Q: How do I contact you?
A: The best method to contact me is to leave a comment on my most recent posts. You can also email me at sgfinancialfreedom@gmail.com

Q: How much passive income do you earn per month?
A: Not enough....around $400 per month.

Q: What do you work as?
A: I don't know.

Q: What do you mean you don't know?
A: I am doing so many things now that I don't really know what I am working as. Many sources of income but each source of income is very small.

Q: Why do people read this blog?
A: Beats me... But 1,500 UNIQUE readers visit this site every month. I do not know what they find interesting about this site. I wish they would tell me at times.

Q: Why did you start blogging?
A: I started to blog so as to keep an online journal of my journey. It gives me an avenue to rant my feelings, thoughts and stuff. Besides, I earn a little pocket money from it too.

Q: I have a blog named XXXX too. Want to exchange links?
A: You can place a link to my blog. My link exchange policy is to link only to blogs that are 6 months and older. Too many new blogs have come to this site asking for a link exchange. It causes me a lot of maintenance problems to find out which sites are still being updated. 6 months is a good time frame for me to judge whether you are a serious blogger or website owner. Please don't get me wrong. I am very willing to exchange links. Just prove to me that you can keep a site updated for more than 6 months first then contact me again. If you have a blog that is less than 6 months but seriously wish to have a link to your site, you can do the following:

1. Offer to write a guest post on this site with a link to your site.
2. Write a really good post and let me know. If it is good, I might link to you in one of my postings.


  1. i'm reading it because you update it frequently.

  2. Thanks Wayne,

    At least I know one of the reasons why people read this blog!

    Really look forward to your comments and inputs in the future.

  3. I'm reading it because you are just 1 year older than me, and already married...

  4. Ha..JW. Is that an anomaly? I thought alot of people my age are already married and have kids =)

  5. No, most local male uni grads around my age in my office aren't married...

  6. I guess I must have married pretty young then.

    But amongst my friends, it is the norm. So perhaps I guess it is "peer pressure". Ha..

  7. hi, i read your blog because you give people hope - hope that they can one day break away from the corporate slavery. it's heartening to read how an average guy is following his dream to leave the rat race, strike out on his own and thrive on a multitude of income streams.

    and also, for sharing your triumphs and fears. this journey is not going to be easy, but you got a bunch of readers rooting for you!


  8. Hi James,

    Thanks for the encouragement!

    It is really not easy for one to leave a high paying job for something that he or she is passionate about especially if there is a severe paycut involved and when there are lots of debts like housing loans and car loans to be paid.

    I have indeed diversified my income streams by quite a bit and I can say that even if I were to do nothing at home, some money will still be rolling in (even though it is very little at this point in time). This is a stark contrast to the past where if I stopped working, the money also stops flowing in completely.

  9. I like reading your blog as your started from so little amount and you are pretty rich for your age.

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  11. Hi,

    I am just begin in the world of investing. Could you enlighten me what is the cheapest way to invest?

    I know that we need to open a CDP account, what else do we need? Any website that we can trade easily without the hassle to approach broker who charge high commission with little works.

    I would like to try out stock, ETF and unit trust.


  12. Hi,

    I am not sure I understand your question. Cheapest as in the method to invest without incurring heavy commissions?

    To buy stocks, you need a CDP account as well as an account with a brokerage firm (POEM, UOB KayHian, DBS Vickers, etc). Brokerage charges now are quite low as you can trade online with a minimum transaction cost of around $25. Seriously speaking, this transaction cost is really low.

    On the other hand, if you want to invest in unit trusts, try a fundsupermart account. Unit trust can be slightly more expensive due to the sales charge but this has been reduced to 1% for certain funds.

  13. Thanks FF,

    That is exactly my question.

    Trade in stock is the cheapest method with low transaction cost. How do i select a brokerage firm? What do i need to consider?

    For trading of stocks, which brokerage firm offers lowest cost and easy to trade? What is the pros and cons among the brokerage firm? Must we pay commission to broker. I don't need a broker.

    For unit trust, i am using IPP which charge annual fee of 0.75%. There is a front-end load which i can't recall the %. No back-end charge. I find that 0.75% p.a. is expensive.

    Looking for alternative to trade unit trust that offers vast variety of fund with low cost. Any suggestion?

    Back-end charge is not preferred as the cost can be quite substantial.

    For ETF, i know its getting popular and offer lower cost compared to unit trust.

    Please advise.

  14. Hi FF,
    U can call me PS. I did like to know more on becoming a trader or going into stock. but i don't know how. Just like Mr Peter Lim. Moreover, i do not have much $ to go into it. Pls advace me in this.


  15. Hi Anonymous,

    I guess choosing a brokerage is really up to preference. I hear from my friends that POEMs is cheap but I still continue to use UOBKayHian. I guess as a small consumer, we need to look at the brokerage charges and find one that is sufficiently low. Trading platform and ease of use is also important. Whether you know anyone from that brokerage firm to help you in terms of your queries will also go a long way especially if any "urgent" matters crop up.

    I don't really trade unit trust so can't advise you on that. My unit trusts are mainly thru fundsupermart and my investment linked policies

  16. Hi PS,

    It is really hard to give advice. Like a wise old man once told me, when it comes to stock market, never ever give advice. Because people will follow your advice and blame you when they lose money no matter how much you warn them in advance not to follow your advice blindly.

    For you, I think you ought to read up more on financial planning books. Just go to a bookstore and browse through some books and I am sure you will learn a lot more.

    The Sunday Times also has an Invest section with very good commentary on a range of topics.

    As a guide, one should have 3 to 6 months of expenditure or income saved up in an emergency fund before you start investing. Try to work on increasing your income and reducing your expenditure if you find that you are always not saving enough each month.


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