Author: Dr Wealth

Why Owning A Simple Family Car In Singapore Can Cost You SGD 234,621 Over 10 Years

Owning and driving a car is a part of many people’s daily lives. But what does it really cost you financially to own one, and use it on a daily basis? Car buyers often do not think much more beyond what they have to pay upfront to make the decision. In most countries, this might not really set you back by much financially, but not in Singapore where I stay. In this post, I am going to talk about what it means to own some of the world’s most expensive cars.  And I am not referring to flashy sports...

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Singtel vs Starhub vs M1: Which One Would Passive Income Investors Pick?

Are you looking to invest in dividend stocks that pay high and stable dividend income? You want to invest in stocks with strong fundamental, proven business models, great dividends track record and ideally, you are also the customers of their products/services: Telco plans. Today, the three Telcos I’m going to cover achieve exactly that. But first… A Little History on Singapore’s Telecommunications Industry When it comes to the telecommunications industry, everyone knows that Singtel was Singapore’s first and largest listed telecommunication company. But do you know that Singtel was ‘branched out’ as a private company from Telecoms – a...

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Baidu vs Alibaba vs Tencent (BAT) – Which One Would Be The Best Stock To Own?

The United States has been the driving force behind global innovation for a long time. Facebook, Amazon, Netflix and Google, abbreviated as  FANG, are amongst the most admired technology companies in the world. On the other side of the Pacific, China is an up and coming force to be reckoned with. Technological giants in the form of Baidu, Alibaba and Tencent (BAT) are taking great strides and catching up fast. We have covered FANG previously. We will now move on to discuss BAT. Baidu Seems Like A Fallen Angel In my FANG article, I expressed some unease about Netflix being...

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How Much to Spend on an Engagement Ring without Going Broke

Are you looking to BTO soon and you’re worried about how much to spend on your engagement ring? There are important questions that many avoid at this point: what if your engagement doesn’t work out last minute? What if either of you has cold feet at that point in time? You may worry about her breaking your heart (or bank account) last minute… and all that thousands of dollars spent on that engagement ring goes to… waste. I’ll argue that the majority of personal finance issues can be boiled down to an ability to communicate openly, set boundaries between...

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Do You Want Rich Or Poor Financial Advisors?

I posted this question on the BIGS and Seedly Facebook Groups recently and received quite a response. I guess this is an issue that matters to many. To be fair, this was a loaded question. We had some respondents who took a step back to think about what I was trying to get at. The majority, however, just blurted out whatever was on their minds. I have no issues with that. I welcome any discussion. The social media catches the crowd with their most candid comments, and these comments go a long way to paint the general public’s perception....

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Do You Want Rich Or Poor Financial Advisors?

I posted this question on the BIGS and Seedly Facebook Groups recently and received quite a response. I guess this is an issue that matters to many. To be fair, this was a loaded question. We had some respondents who took a step back to think about what I was trying to get at. The majority, however, just blurted out whatever was on their minds. I have no issues with that. I welcome any discussion. The social media catches the crowd with their most candid comments, and these comments go a long way to paint the general public’s perception....

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Circles Life – 1 Hack to Save Money and Double Your Productivity

If you read my articles on personal finance, you’ll notice that I focus a lot on psychology and I use terms such as ‘invisible scripts’ and ‘cognitive misers.’ I make the argument since all of us cognitive misers, it’s more important to focus on one-off big wins like creating systems in your life. I don’t just use them to sound smart, they are actually powerful strategies that can save you more money and even double your productivity. In this article, I’ll use a simple switch of telco subscriptions to demonstrate my point. In my own personal life, I am...

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The Monk Like Warrior

Alvin, CEO of Dr Wealth introduced interesting ideas that shook up the personal finance community with this article: are financial bloggers suffering? He argued that there are generally two types of people, two different approaches to financial success: People that draw from their strength to suffer, the monks People that do bold things, the warriors That’s an interesting argument. I’d like to build on the initial argument to state that the warriors and monk approaches are not mutually exclusive. The strength to suffer: accumulating wealth by saving money and the strength to do bold things: accumulating wealth through entrepreneurship....

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Are Financial Bloggers “Suffering?” — Part-2

In my previous article Are Financial Bloggers “Suffering?,” I wrote about the Monk and the Warrior. The Monk lives a rich life not because he has plenty, but because he needs little. Years in the monastery has taught him not to ask for more but to crave for less. The Monk is strong in mind. He has the Strength to Suffer.  The Warrior, on the other hand, sets out to conquer the world. Instead of wanting little, he needs more. The Warrior needs more recognition, more power and more money. To achieve that he needs to make bold decisions and go...

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The Monk Like Warrior

Alvin, CEO of Dr Wealth introduced interesting ideas that shook up the personal finance community with this article: are financial bloggers suffering? He argued that there are generally two types of people, two different approaches to financial success: People that draw from their strength to suffer, the monks People that do bold things, the warriors...

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Are Financial Bloggers ‘Suffering?’

I remembered a conversation with an ex-girlfriend. I told her we need to cut our expenses to free up some cash flow. She replied that we should find ways to earn more money instead. Years later, I read The Prince by 15th century Italian historian-philosopher-influencer Niccolo Machiavelli and came across the following line. “Develop the strength to...

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How to Save More Money without Cutting Back on Starbucks

If you’re Singaporean, you probably heard for the first 10 years of your life how important it is to save money as a Singaporean. You’ll also probably heard this from your parents: ‘You need to save money incase the economy crashes.’ ‘You need to save money for rainy days.’ There’s nothing wrong with saving money. It’s how you go about saving money that matters. Through the years, I’ve heard my fair share of crappy advice on saving money in Singapore. First, you get financial ‘experts’ telling you to ‘cut back on Starbucks’ or even worse… ‘get cash back rebates’...

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How Dr Wealth Made 73% off the PEC Ltd Stock

It was 13 Jul 2015. Oil price tanked from US$115 to US$57 over a year. That’s a good 50% drop! Many investors were spooked and started to sell their shares in oil and gas companies. Blue chip companies were not spared either. In the same period, Keppel fell from $10.69 to $8.11 or a 24% decline. Sembcorp fell from $4.04 to $2.82 or a 30% drop. Large order books didn’t count much to comfort investors. In fact, it was expected that many of these orders would be cancelled. Even receivables were not safe, clients could go bust and not...

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How to Win Toto and 4D Even if You’re Sibeh Suay

If you’re Singaporean you’re no stranger to the terms ‘tolong let me strike 4D’ amongst family members, Aunties and Uncles. They make up part and parcel of our usual Singaporean talk. Some people buy Toto and 4D for the hopes of making a million dollars one day. Others do it just as a pastime. Personally for me, I bought Toto only once in my life and that was my Secondary school friends in my late teens. Later, I got interested in the financial markets and I remembered picking up a couple of books containing advice, quips and wisdom from...

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