Financial Confidence

I came across this term while watching a Youtube video by this person called Dan Lok. He is a Canadian entrepreneur/consultant who specializes on big account closing. While he isn’t a Warren Buffet I thought what he mentioned about financial confidence resonated with me.

Most people are familiar with the words “financial freedom” or “financial security”. Both terms connote having or building a cornerstone of wealth to tide you over bad times. Even though FIRE is all about increasing your value, saving and investing, most conventional blogs focuses more on the “saving and investing” part.

“Financial confidence” is like FIRE’s answer to increasing value. Like its name, “financial confidence” is all about having the skill sets and knowledge to build wealth. So even if the world does come crashing down on you one day, you are still resilient and able to create new value in an ever-changing world.

These themes resonated with me a lot as most conventional financial literature focuses on using the power of compounding to help build wealth over a long period of time. But I realized that if the roof was truly on fire, I don’t have the time or resources to live twice as long.

I am on the wait list for his book F.U. Money and will post a review after I am done with it.

Active Income

I’ve always thought of the FIRE game as math’s, plain and simple. At some point you realize that there is a limit to how much you can save and that the next step is to increase your income.

I’ve never been good at increasing my side income skills. Frankly, aside from dividends, which has provided some level of passive income over the last 2 years, I’ve never really dabbled in other ways to make more cash.

That’s before I met Gary Vaynerchuk and his 2017 Flip challenge. Okay never mind, that this is Yr 2018 and I am 1 year behind the curve. This guy is a serious eye opener and in my opinion a very shrewd observer of the changing tech scene, especially when it comes to small businesses.

You can watch his video here

It has barely been a month since I’ve started this exercise and I’ve already sold 3 items. I’m seriously contemplating going down to the thrift store this weekend to see if I can find something valuable to flip for free.

Given my skills, the S$20,170 target looks like miles away, but I guess the process is more important than the product. Imma chip away at it one step at a time.

2.42% October 2018 SSB issuance

The latest SSB issuance is out, and is frankly not that exciting. Overall, the interest rates have remained fundamentally the same. The overall yield has fallen by 0.02% from the previous month and the 1-year yield is down by 0.01%.

2.44% Sept-18 vs 2.42% Oct-18Nothing fancy about the issuance, but investor’s who have a time horizon of 2 years for the bond can note that the 2-year yields are slightly higher than the last issuance.

I think the bond issuer’s are fully cognizant about how the SSB’s are not supposed to be “high yielding” investments. Especially since there have been reports of falling savings rate in the banks. Not a surprise either since their interest rates are so low.

Here is an incomplete list of the past SSB issuances.