Financial Freedom

Car Repairs

Changed brakepads and tyres for my car yesterday at Stamford Tyres:

1. 215/55R17 CO CPC5 94V E/DOT T L EU tyres - $230 each for 2 tyres ($460 in total)

2. Brakepads OEM for front and back ($200 in total)

Total cost = $660

Buy Term, Invest the Rest - What does it mean?

Buy term, invest the rest (BTIR) is a financial strategy that advocates buying a term life insurance policy and investing the remaining money that would have been spent on a more expensive permanent life insurance policy. This strategy allows policyholders to allocate more money to investments and achieve better long-term financial growth. Term life insurance policies offer a death benefit for a specific period of time, usually 10, 20, or 30 years. They are generally more affordable than permanent life insurance policies, which often include a savings component and can cost up to ten times more than term life policies. By purchasing a term life policy, policyholders can allocate more money towards investments that have the potential to grow their wealth over time. Investments in stocks, bonds, and mutual funds can yield a higher rate of return than a permanent life insurance policy's savings component. By investing the money that would have been spent on a permanent policy, policyholders can accumulate wealth and achieve long-term financial goals, such as retirement or buying a home. One of the key advantages of the BTIR strategy is flexibility. If a policyholder's financial situation changes, they can adjust their investments accordingly without being locked into a permanent life insurance policy. Additionally, term life policies can be converted to permanent policies later on, providing policyholders with more options for protecting their financial future. Another benefit of BTIR is that it is easy to understand and implement. Unlike more complicated financial strategies, BTIR does not require a high degree of financial literacy or expertise. Policyholders can simply purchase a term life policy and invest the remaining money in a diversified portfolio of stocks, bonds, and mutual funds. However, there are some potential drawbacks to the BTIR strategy. One of the main risks is that investments may not perform as well as expected, potentially leaving policyholders with less money than they would have had with a permanent life insurance policy. Additionally, term life policies only offer coverage for a specific period of time, so policyholders must ensure that their investments are performing well enough to cover future insurance needs. In conclusion, the BTIR strategy can be a good option for individuals who want to maximize their long-term financial growth while still protecting their loved ones with a life insurance policy. By purchasing a term life policy and investing the remaining money, policyholders can achieve a better rate of return on their investments and have more flexibility to adjust their financial plans as their needs change. However, it is important to carefully consider the potential risks and benefits of the strategy before implementing it.

Who is Goh Cheng Liang

Goh Cheng Liang is a billionaire businessman and investor from Singapore. He was born on June 6, 1923 and is widely regarded as one of the most successful entrepreneurs in the country. Goh is the founder of Nippon Paint Holdings Co Ltd, one of the largest paint manufacturers in the world.

Goh started his business career as a paint seller and gradually built a paint empire that spanned across Asia. He founded Nippon Paint in Japan in 1965 and since then, the company has grown to become a leading paint manufacturer with operations in multiple countries. In addition to his paint business, Goh has also made investments in other industries, including real estate and shipping.

Goh is known for his business acumen and his commitment to building long-term relationships with his partners and employees. He has received numerous awards and honors for his contributions to the business community, including the prestigious Order of the Rising Sun from the Japanese government.

Throughout his life, Goh has been dedicated to philanthropy and giving back to the community. He has made significant contributions to education, health care and other charitable causes in Singapore and around the world.

Despite his success, Goh remains a private individual and shies away from the media. Nevertheless, he is regarded as a role model and an inspiration to many aspiring entrepreneurs in Singapore and around the world.

Who is Christopher Wren

Christopher Wren (1632-1723) was an English architect, astronomer, and mathematician who is best known for his work designing St. Paul's Cathedral in London. He was born in East Knoyle, Wiltshire and studied at Oxford University, where he developed a love of mathematics and science. After a brief stint as a professor of astronomy, Wren entered into a career in architecture and quickly became one of the most sought-after architects of his time.

Wren's architectural style was characterized by his innovative use of mathematical principles and his mastery of Baroque architecture. He designed numerous public and private buildings, including the Royal Observatory at Greenwich, the Royal Hospital at Chelsea, and the restoration of the Sheldonian Theatre at Oxford.

However, Wren is most famous for his work on St. Paul's Cathedral. After the original cathedral was destroyed in the Great Fire of London in 1666, Wren was tasked with designing a new one. The new cathedral was completed in 1708 and is considered one of the most significant works of English architecture.

Aside from his architectural accomplishments, Wren was also a respected scientist and member of the Royal Society. He made important contributions to the fields of astronomy and mathematics and was elected as the President of the Royal Society in 1680.

Wren's impact on architecture and science can still be seen today. He is remembered as one of the most important figures of the English Renaissance and his work continues to inspire architects and scientists around the world.

Who is Lord Nelson

Admiral Lord Horatio Nelson (1758-1805) was a British naval officer who became famous for his victories in the Napoleonic Wars and is considered one of Britain's greatest military heroes. Born in Burnham Thorpe, England, Nelson began his naval career at the age of 12 and quickly rose through the ranks. He served in various conflicts, including the American War of Independence, and was known for his innovative tactics and leadership skills.

Nelson's greatest victory came in the Battle of Trafalgar in 1805, where he led the British fleet to defeat the combined French and Spanish fleets. During the battle, Nelson was mortally wounded and died on the deck of his ship, the HMS Victory. His death was a great loss to Britain, but his victory at Trafalgar secured British naval supremacy for many years.

Nelson's personal life was also notable, with a tumultuous romantic history and a well-publicized affair with Lady Emma Hamilton, the wife of a British diplomat. Despite these personal scandals, Nelson remained popular among the British people and was widely mourned after his death.

Today, Lord Nelson is remembered as one of Britain's greatest military figures and a symbol of the country's naval power. Statues and monuments in his honor can be found throughout the UK, including at St. Paul's Cathedral in London. The HMS Victory, the ship on which he died, is now a museum in Portsmouth, England and remains a popular tourist attraction.

Facts About St Paul's Cathedral in London

St Paul's Cathedral is one of the most iconic landmarks in London, England. Here are some facts about the cathedral:

Location: The cathedral is located on Ludgate Hill in the heart of London and is the mother church of the Diocese of London.

History: The cathedral was built in the 17th century and is the fifth church to have been built on the site. The previous cathedral was destroyed in the Great Fire of London in 1666.

Architect: The cathedral was designed by Sir Christopher Wren, one of the most famous architects of his time.

Dome: The cathedral is famous for its large dome, which is one of the largest in the world. It is 365 feet (111 meters) high and offers panoramic views of the city.

Crypt: The cathedral has a crypt that contains the graves of many famous people, including Admiral Lord Nelson, the Duke of Wellington and Sir Christopher Wren himself.

Services: St Paul's Cathedral is still a working church and holds regular services, including daily prayers and Sunday services.

Events: The cathedral has been the site of many historic events, including the funeral of Winston Churchill, the Queen's Diamond Jubilee Service, and the Remembrance Sunday Service.

Art: The cathedral contains many works of art, including paintings, sculptures and stained glass windows, which add to its beauty and interest.

These are just some of the many interesting facts about St Paul's Cathedral in London. Whether you are a history buff, an art lover or just looking for a beautiful place to visit, St Paul's Cathedral is definitely worth checking out.