5 Million Dollars. 10 Years. This is the story of my journey.
In a recent research paper titled The Symbolic Power of Money (published in Psychological Science) Zhou, Vohs, and Baumeister performed six experiments, with results that suggest that even the idea of money can have beneficial effects on us. Even counting money can apparently reduce the pain of being socially ostracized, and even real physical pain. [...]
Finally, CFA Level 1 Exam is behind us! Let’s hope that we won’t need to go through the same thing all over again for December So back to our regular programming here: net worth! Recently I took another look at my current net worth, which has been going up and down thanks to currency fluctuations, [...]
These days, hardly a day can go by without something about Wall Street bonuses in the news. The fact that banks like Merrill Lynch paid out $15 billion bonuses after $42 billion losses, or that Citigroup paid out $4 billion after two multibillion-dollar rescues, have been discussed and beaten to death. People were outraged, politicians were in [...]
Changes since last update: The job Whoah. What a year. The job cuts are coming, and seriously, nobody is safe. NOBODY is safe. I thought “headcount reduction” was something that would happen to other teams, but not mine. My team handles a critical business function, and we have been doing really well despite the economy [...]
I absolutely love salary.sg. They just launched their latest annual salary comparison tool here! Somehow, it’s like the whole Singapore is getting richer, compared to the year before. I found that I should increase my basic salary by about 4.4% if I want to keep my position in the rat race, compared to 2007. How [...]
WRONG. If we’re talking about living a good, comfortable life, sure, past a certain amount, it’s not about how much money you make, but more about what you do with that money, and managing your expectation. But if we’re talking about becoming a millionaire, then it’s a whole another discussion altogether. This whole “it’s not [...]
Since the last update, there have been a few changes: The business has been going slowly unfortunately. Load at work has been unbelievable. Thanks to the economy, I think it’s quite realistic to say that my target of getting a 6-month bonus for 2008 ain’t gonna happen The market has been so volatile, I’ve decided [...]
Clever Dude wonders whether he’s rich. He observed that families with 6-figure income weren’t living the lives of rich people. Well, converted to US dollars, I’ve got 6-figure. After tax. My family definitely do not live like “rich people”. J. Money at Budgets are Sexy asks himself whether he’d be rich if he earned $150k/year. J. Money [...]
Go to any forums or blogs about salary, wealth building, or personal finance, and I can almost guarantee that you’ll see people with this “either/or” mentality making comments like these: “He might be rich, but he may not be happy.” “What’s the use of having a lot of money if you have no life?” “I [...]
NetworthIQ is fantastic! It lets you keep track of your net worth, and compare it with the net worth of people from similar education background, age group, income bracket, and so many other things. I wish I had found this site before I wrote this post and this page, which, in retrospect, aren’t really accurate. After [...]