Author: Riches That Stick

Why you should definitely buy a car in Singapore

I was talking to a friend recently and we were discussing how it’s kinda hard to justify having a car in Singapore. Almost every personal finance website talks about how cars are just horribly, horribly overpriced here. It’s so overpriced that even Hollywood Stars are stunned by how much cars cost in Singapore. Check out Michelle Rodriguez’s priceless reaction when we the interviewer tells her the prices of cars here. And we have a world class transport system as well! It breaks down now and then but it’s still one of the best in the world. Seriously, Singaporeans have...

Read More

Are Singaporeans Unhappy?

Tell me whether you agree with this: Singaporeans are unhappy. I was talking with a friend about the rather unusual path he has taken. He’s a planner focusing on helping people achieving financial freedom. He’s a guy that has to meets with people from different income levels every day, even high net worth individuals. And he pointed out something interesting to me about my fellow Singaporeans, many of them, even those that have made it, are apparently unhappy. He’s right though most of us are deeply unhappy. Deeply, deeply unhappy. We have a really high employment rate, pretty good...

Read More

Why cutting back gets really stupid, fast and what u should do instead!

There’s a problem with cutting back that people don’t want to acknowledge. Cutting back causes you to hate money and probably yourself, after a while Here’s what most people do when they are trying to save money. Action Steps! : Save $100 by running instead of going to the gym Save $200 by replacing the meaning of the words Going out” to mean walking around the block 3 times before going home. Save $100 by drinking some bland 3-in-1 crap instead of that soy mocha Frappuccino (*shudders) Not too bad! You’ve saved $600 just by writing stuff on paper....

Read More

Does having a day job mean giving up all your dreams?

So the end of the year is just around the corner again. This is the time of the year where people start wondering, what have I done with my life this year? Why haven’t I worked on the dream / magnum opus yet? Everyone thinks there are only two choices in life : 1) Slog through your day job and give up on your dreams, grit your teeth and join the daily grind 2) Quit your day job, hopefully giving the finger to your boss and slamming the glass door on your way out. Then work on their dream...

Read More

Negotiation: Why “No” might be better than “Yes”

What if your job is to negotiate against the world’s most dangerous people on a day-to-day basis? And your negotiation skills decides whether people or die. I think negotiation is important too (our salary is largely depended on how well we negotiate) but not that important… The Art Of Negotiation Negotiation is about quickly establishing relationships and getting people to think and talk together. A good negotiator is one who is prepared for any surprises. A great negotiator is one that uses his or her skills to reveal the surprises that are certain to be found. 80% of negotiation is won...

Read More

When bonds are dangerous: A history of products from banks

Banks in Singapore are known to be safe and relatively conservative institutions. But that doesn’t mean they haven’t sold products to unsuspecting people. People who shouldn’t be any where near the sophisticated instruments. Products appealing to the Asian investor Let’s take a look the average Asian investor, what are they concerned with? Most “investors” in Singapore seem to be concerned with loss avoidance. People are afraid to lose money. This leads to bonds being very attractive. Bonds are “safe” because of these properties Principle is returned on maturity The interest rate is guaranteed If the company goes bankrupt, bondholders...

Read More

Woman 85 sues slimming centre over 400k treatment: An analysis of sinister sales tactics

So how did an 85 year old lady end up paying $400,000 for slimming sessions that don’t work? I read with interest about this diabetic 82-year-old lady who went to London Weight Management after seeing its TV commercial touting a weight-loss trial session for $18. She wanted to lose weight for health reasons. So she went there expecting to pay $18 for a trial and ended up paying them nearly $400,000 (about 22,000% more) . Now, she’s suing them to get her money back. How did this happen? How does someone end up paying so much for something they...

Read More

How to buy low and sell high

Most of us go through these stages in our lives. Life stages In our 20s, we think we’re freaking invincible and we can do no wrong. We know better than everyone else; everybody that has every loss money in stocks do not have the same unique insight we do. So we start picking stocks. We pick 5 to 10 “hot” stocks based on our analysis or tips from friends. Losses are blamed on “luck”. Wins are because we’re just that awesome and can do no wrong. In our 30s, we realize our investments haven’t yet made us a millionaire....

Read More

Land your dream job : How to impress over coffee

Networking is important. There’s no doubt knowing the right people can put you head and shoulders above everyone else. This is especially true as you progress in your career. The higher up you go, the more your jobs will come through your personal network. Your personal skills will outweigh your technical skills. Everybody seems to have advice on this: “Go to more networking events, dress for success, etc.” It’s hard to take advice like this seriously, especially wen it comes from career experts who are not even employed themselves . We’ve talked about how to use a warm, mutual...

Read More

How to network to your dream job

People who are employees often act like they’re rice. Rice is a commodity. It doesn’t really matter which brand of rice you get (except for Basmati rice, man, that is the real deal). They’re all the same to you. It’s plain and boring. You could swap our one type of rice for another and nobody would be able to tell the difference. That’s the problem with being employed in a company. People go and they are replaced. The company goes on. It’s easy to feel like you only exist to fill a headcount. The company treats people like a commodity. But the...

Read More

3 lies we tell ourselves about networking

“It’s not WHAT you know, it’s WHO you know.” This phrase is bandied about quite a bit. Usually by people who feel stuck in their jobs, can’t see a way out of it and start complaining about how the government should do something about foreign talents. But you know what? They’re right! Your relationships will matter more than your technical skills as you progress in your career. That’s just the way the world works. You can complain all you like about how incompetent your managers are and nothing will change. Top performers never worry about being out of job....

Read More

4 principles of persuasion you should use today

One thing I’ve noticed in the workplace: people who can get others to buy into their vision are at the top of the food chain. We’re all in the business of influence and persuasion. Whether it’s an idea or a product, you won’t get far unless others buy into it. Persuasion vs Manipulation I want to start by highlighting the difference between persuasion and manipulation. There’s a fine line. Both of these behaviors seek to move another person to a desired action. But manipulation is like the ugly cousin that grew up in the locked basement that the family...

Read More

3 reasons I lost a lot of money and how I overcame them

This is a story on my investment in a company that build ships for the oil industry called Vard in 2013. I’ve lost over S$10,000 because the stock has collapsed 85%. Yet, I’m still holding on even though I know I’m being stupid. We love to believe we’re all special snowflakes that are individual and different but humans are way more alike than we like to think. People in their 20s wish they’d travelled more, in their 30s they start getting concerned with retirement, and by their 40s, people get increasingly worried about retirement. When we’re younger, we save...

Read More

Why the Holland Village robbery doesn’t make financial sense

Wow… so huge news. Someone successfully robbed a bank in Singapore and there’s going to be a manhunt. A manhunt as in a hunt for a criminal. This is really rare in Singapore. I mean, this is so rare that the first image for manhunt Singapore on Google returns me this: Lots of people are commenting that the criminal got away with essentially free money since he managed to rob the bank in broad daylight with just a note. So let’s  use some calculations to determine how well the robber actually did. Comparing the statistics of bank robbery So...

Read More

There’s only 3 things u need to know before investing and it’s not what you think

I’ve heard plenty of people say they want to start investing. But they are afraid to get started. I can understand. There are a lot of terms that sound intimating like fundamental analysis, technical analysis etc. So many types of analysis and we all have day jobs! It’s no wonder most people would rather hire someone take care of it for them, like a financial advisor. Unfortunately, these people are rarely acting in our best interests.They don’t really care if you make money. Watch this segment by Jon Oliver for a hilarious review of financial advisors. Investing by yourself...

Read More

Like us on Facebook

Follow us on Twitter