Profitable Plots - Another Land Investment Firm Gone Wrong?

I wrote sometime back warning readers about land banking.

I was just generally uncomfortable with some of the ideas that were being surfaced in the market and after talking to a few friends who had invested in land banking products, realised that the deals might not be as good as they are marketed to be. Of course, I could be wrong and there might be some good land banking deals out there. But for me, I will stay clear of this kind of investment.

Of course, I was not surprised to read in the papers about another troubled investment firm - Profitable Plots which is currently under probe by the Commercial Affairs Department (CAD). I remember their glitzy advertisements during EPL half time match breaks and also saw some of their booths at Great World City before. So I am not surprised that some investors have lost their money. Who can resist such sales tactics?

It seems that 106 investors have lost a combined $9.5 million. Profitable Plots has some 1,000 clients here so I am not certain why only 106 people went to the CAD. Shouldn't all the clients be clamoring for the $60,000 that is left in Profitable Plots coffers? If that is so, each one of them will only be entitled to less than $60. And I hope that they don't need to pay any legal fees for that!

My guess is that some of these clients probably do not even know that Profitable Plots is in trouble. They are probably not monitoring their investments and the news. After all, I also did not know that Profitable Plots was in trouble. I just found out like today when reading the newspapers.

I have said it once, and I will say it again: Beware of any deal that sounds too good to be true.

Median Monthly Income Goes Up

A survey by the Ministry of Manpower finds that the median monthly income of full time resident workers have risen by 4.2% to $2,710 this year. This is compared to $2,600 for the previous year.

The data for median gross monthly income for the full-time employed (less full-time national servicemen) are as follows:

2006: $2,170

2007: $2,330

2008: $2,590

2009: $2,600

2010: $2,710

CIMB-GK regional economist Song Seng Wun noted that real wage growth was "just barely keeping pace with inflation".

Top 5 Internet Sites I Visit

I thought that after sharing what investment books we read, it might also be interesting to know what are the top 5 internet sites one frequents.

Here are my top 5 sites which I visit (not in any order of preference):

1. Facebook

Needless to say, facebook is one of the top sites I use. I don't really play the games but I just use it to keep updated on what people around me have been up to. Sometimes, when I don't really know what to surf on the net, I just go on facebook as people tend to put interesting links there.

2. STOMP

Yes, Singapore's very own STOMP. It is just tabloidy kind of stuff and I read it more for entertainment purposes.

3. DBS Internet Banking

To carry out my banking.

4. ESPN Soccernet

To catch up with my soccer news.

5. Youtube

I have loaded my favorite music videos on it. So I just go there for my daily dose of music.

So here are my top 5 sites, what's yours?

Everyone has a Story to Tell

Stories are powerful. And the beauty of it is that each of us has a different story to tell. Even the same events witnessed by different people are told differently.

What stories do I have to tell?

Many. But are they interesting enough? And what should I tell since there are so many?

It is kindergarten. I am catching a ride from my neighbour's Mum. We attend the same kindergarten and it is quite often that I catch a ride from them. On this day, I get into the car first. Thinking that he would go in from the other side, I proceed to close the door.

Unfortunately, he doesn't go in from the other side. He uses his hand to stop the door but the door slams on his fingers. He screams in pain and starts crying out. His mum inspects his fingers and says it is alright. But that doesn't stop him from being angry with me. And I am too afraid to say sorry. He ignores me for the rest of the day.

Why do I even remember an event like this?

Investment Books to Recommend

Every now and then, I get queries from readers on what books do I recommend that they read.

It is really hard to recommend books to read. After all, there are tons of investment books out there and they all cover a wide range of topics. Some teach you how to invest in stocks, some commodities, some real estate, some forex, etc, etc.

Basically, whoever has made money in a certain trade is sure to start writing a book and recommending to everyone to follow in his footsteps. And that is why Warren Buffet writes about stocks and Jim Rogers writes about commodities. I am sure some other real estate tycoon has made his money from real estate and will write about investing in real estate.

Are these good books? Some are, some are not. You have to discern for yourself whether the rules apply and whether you need to contextualise it to suit our environment.

Nonetheless, here are some of the books that I have read:

1. Capital Ideas

2. Random Walk Down Wall Street

3. Millionaire Next Door

4. Rich Dad Poor Dad

5. Retire Young, Retire Rich

6. Hot Commodities

Of course the books written by Warren Buffet and other investment greats are also worth reading.

But reading is one thing...............applying it in real life is a whole different playing field.

Great Weekend - $200 in Dividends

One of the real estate investment trusts (REITs) just gave out dividends 2 days back. Received a nice lovely sum of $200. Not a lot but enough for me to buy a few items for myself that I like.

I have also received over USD$250 from selling some adspace on my blogs. This is still stuck in my paypal account as I have no idea how to transfer it out to my bank account yet.

The weekend has been great thus far. Lots of lazing around and trying to figure out what I want to get out of my life. Been thinking about this a little more the past few weeks.

Today is a hot day so we are staying indoors most probably. The family is taking its afternoon nap but I do hope to be able to go out and get some fresh air, clear my head, and get myself all geared up for the new week ahead.

Regrets of the Dying

I read this wonderful post of my Google Reader and decided it was worth sharing with all. Start living the life that you want to and stop having any regrets! Do let me know what you think and share with all on which regret you want to rid yourself of by commenting on this post below.

For me, it is the first. I wish I'd have the courage to live a life true to myself. I hope that I do not die with such a regret in my heart - that I feared to pursue my dreams because of other's expectations

=============

Bronnie Ware works in pallitative care -- with patients near the end of their life. In this post, she writes powerfully about the the top regrets that have surfaced again and again from her patients on their death beds. I've pasted the list of five below.

1. I wish I'd had the courage to live a life true to myself, not the life others expected of me.

This was the most common regret of all. When people realise that their life is almost over and look back clearly on it, it is easy to see how many dreams have gone unfulfilled. Most people had not honoured even a half of their dreams and had to die knowing that it was due to choices they had made, or not made.

It is very important to try and honour at least some of your dreams along the way. From the moment that you lose your health, it is too late. Health brings a freedom very few realise, until they no longer have it.

2. I wish I didn't work so hard.

This came from every male patient that I nursed. They missed their children's youth and their partner's companionship. Women also spoke of this regret. But as most were from an older generation, many of the female patients had not been breadwinners. All of the men I nursed deeply regretted spending so much of their lives on the treadmill of a work existence.

By simplifying your lifestyle and making conscious choices along the way, it is possible to not need the income that you think you do. And by creating more space in your life, you become happier and more open to new opportunities, ones more suited to your new lifestyle.

3. I wish I'd had the courage to express my feelings.

Many people suppressed their feelings in order to keep peace with others. As a result, they settled for a mediocre existence and never became who they were truly capable of becoming. Many developed illnesses relating to the bitterness and resentment they carried as a result.

We cannot control the reactions of others. However, although people may initially react when you change the way you are by speaking honestly, in the end it raises the relationship to a whole new and healthier level. Either that or it releases the unhealthy relationship from your life. Either way, you win.

4. I wish I had stayed in touch with my friends.

Often they would not truly realise the full benefits of old friends until their dying weeks and it was not always possible to track them down. Many had become so caught up in their own lives that they had let golden friendships slip by over the years. There were many deep regrets about not giving friendships the time and effort that they deserved. Everyone misses their friends when they are dying.

It is common for anyone in a busy lifestyle to let friendships slip. But when you are faced with your approaching death, the physical details of life fall away. People do want to get their financial affairs in order if possible. But it is not money or status that holds the true importance for them. They want to get things in order more for the benefit of those they love. Usually though, they are too ill and weary to ever manage this task. It is all comes down to love and relationships in the end. That is all that remains in the final weeks, love and relationships.

5. I wish that I had let myself be happier.

This is a surprisingly common one. Many did not realise until the end that happiness is a choice. They had stayed stuck in old patterns and habits. The so-called 'comfort' of familiarity overflowed into their emotions, as well as their physical lives. Fear of change had them pretending to others, and to their selves, that they were content. When deep within, they longed to laugh properly and have silliness in their life again.

When you are on your deathbed, what others think of you is a long way from your mind. How wonderful to be able to let go and smile again, long before you are dying.