Author: Dr Wealth

Here’s What You Should Know About Financial Bloggers’ $100,000 Net Worth

Financial bloggers are an admired bunch, especially those who showcase their inspiring net worth achievements:  How I Managed to Amass $750K Before the Age of 35: Real Life Lessons from Brian – YahooFinance How We Saved $250,000 By Age 28 – 15HWW Hitting $100,000 In Savings by Age 26 – SG Budget Babe How to save your first $100,000 in your 20s? – Jeraldine Phneah Often times readers may place more emphasis on what the financial bloggers are investing in, or their investment approaches. But the truth is, these financial bloggers are phenomenal saving creatures. Savings are an important way...

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Jumbo vs ABR vs RE&S: Which Resturant Stocks Is The Most Appealing

I used to be a foodie jumping from cafe to cafe – known as cafe-hopping – when I was young. However, as I stepped into the workforce and started a family, I literally had no more time for that. Instead, I now patronise different kinds of restaurants situated in various shopping malls. Although I missed the leisure times where me and my girlfriend (now wife) would spend an entire afternoon sipping coffee in a new cafe, I gained something important in return… …the opportunity to do some “food-tasting” in the restaurants of various listed companies such as Swensens’ by...

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SGX Central Depository (CDP): A Super Quick Guide To Open One Now (2019)

Have you ever wondered: “What is a ‘CDP’ for and why do I need it?” “How do I sign up for a CDP account?” “Why do the figures in my brokerage statement not match with my CDP statement?” Then you have landed on the right article. Here, we will cover what a CDP is, why you need it,  and why you don’t have to panic when your CDP statement doesn’t match your brokerage account statement. Let’s begin! Quick Navigation What Is A CDP Account? A CDP Account is a Central Depository Account (Henceforth referred to as CDP) If you want to...

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3 Reasons Why Your HDB Flat is Worth $0

I hear you yelling already. You don’t want to believe me, and that’s ok. Get sick and tired of the 9-5 and low paying job? Click here to download FREE PDF 3 Fascinating Formulas to Increase Your Income by $3,000 a Year without Quitting Your Full-Time Job. But you better believe this guy. “Is it fair? I think it’s fair” – Prime Minister Lee Hsien Loong Ok? Done? Can we all stop yelling now? Get it into your head. Just like your car that has to be scrapped after ten years. Just like your bread that expires in a week. Your...

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What Can You Do If Your Kid Is Not Smart Enough For Singapore?

I was born in 1983. That same year, Prime Minister Lee Kuan Yew said in his annual National Day Rally speech “If we continue to reproduce ourselves in this lopsided way, we will be unable to maintain our present standards. Standards of competence will decline. For how can we avoid lowering performance when, for every two graduates… in 25 years’ time, there will be one graduate, and for every two uneducated workers, there will be three?” Psst, hey…looking to become a profitable investor even without knowing anything about finance?: Grab this free guide to Value Investing that has step by...

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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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Are Local Startups & SMEs Focusing Too Much On Government Grants and External Funding?

“At Dr Wealth we have not raised a single dollar from venture capitalists or angel investors. We do not rely on government grants to survive. We are 100% supported by our readers and students who believe in what we do and how we do in an industry that is full of hype.” Throughout the years, I have friends that run startups that struggle to make money from their core services/products. Some of them end up trying to game the grant system from the government. They also find themselves pivoting to one-off side projects and side ventures while not making...

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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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