tag:blogger.com,1999:blog-28021668.post6560690819913417648..comments2023-10-12T21:12:41.408+08:00Comments on Value Investment - Musicwhiz's Journey: Personal Finance Part 16 – The Measurement of WealthMusicwhizhttp://www.blogger.com/profile/10950754156386935254noreply@blogger.comBlogger26125tag:blogger.com,1999:blog-28021668.post-20025386381218868702010-03-29T20:20:24.095+08:002010-03-29T20:20:24.095+08:00Hi CK!
Haha thanks good quotes as always by Mr. M...Hi CK!<br /><br />Haha thanks good quotes as always by Mr. Munger.<br /><br />Regards,<br />MusicwhizMusicwhizhttps://www.blogger.com/profile/10950754156386935254noreply@blogger.comtag:blogger.com,1999:blog-28021668.post-44450510859392947582010-03-29T18:56:21.993+08:002010-03-29T18:56:21.993+08:00Interesting blog as always sir.
I think this quot...Interesting blog as always sir.<br /><br />I think this quote should summaries the many lively posts here:<br />"Acquire worldly wisdom and adjust your behaviour accordingly. If your new behaviour gives you a little temporary unpopularity with your peer group…. then to hell with them." --Charles T. Munger<br /><br />Oh, and something even better from the same man:<br />"I think when you're buying jewelry for the woman you love, financial considerations shouldn't enter into it."nocturnal stallionhttps://www.blogger.com/profile/06654601986974353179noreply@blogger.comtag:blogger.com,1999:blog-28021668.post-69081160292290970392010-03-26T13:17:53.273+08:002010-03-26T13:17:53.273+08:00Hi Singapore Stock Picker,
Already sent you an em...Hi Singapore Stock Picker,<br /><br />Already sent you an email.<br /><br />Cheers,<br />MusicwhizMusicwhizhttps://www.blogger.com/profile/10950754156386935254noreply@blogger.comtag:blogger.com,1999:blog-28021668.post-91729095947216308352010-03-25T15:55:25.650+08:002010-03-25T15:55:25.650+08:00Hi Royston,
OK, thanks. Added.
Cheers,
Musicwhiz...Hi Royston,<br /><br />OK, thanks. Added.<br /><br />Cheers,<br />MusicwhizMusicwhizhttps://www.blogger.com/profile/10950754156386935254noreply@blogger.comtag:blogger.com,1999:blog-28021668.post-63565819297491750862010-03-25T15:54:51.354+08:002010-03-25T15:54:51.354+08:00Hi Ricky,
I have a rough idea of what my peers ar...Hi Ricky,<br /><br />I have a rough idea of what my peers are earning, not an exact figure but a range. I know I am below the average, so I cannot surpass them in this aspect. What I can hope to do, though, is to SAVE more than them in terms of % of my income. That would be the way to go to build wealth.<br /><br />Regards,<br />MusicwhizMusicwhizhttps://www.blogger.com/profile/10950754156386935254noreply@blogger.comtag:blogger.com,1999:blog-28021668.post-57327736380016479182010-03-24T15:03:08.061+08:002010-03-24T15:03:08.061+08:00hey.. MW... can drop me an email? just want to bou...hey.. MW... can drop me an email? just want to bounce ideas off you ...<br />sgxstockpicker@gmail.com<br /><br />cheersSingapore Stock Pickerhttps://www.blogger.com/profile/04926088915588570509noreply@blogger.comtag:blogger.com,1999:blog-28021668.post-59061020822022087632010-03-23T21:53:45.493+08:002010-03-23T21:53:45.493+08:00Hi MusicWhiz,
I'm compiling a list of Singapo...Hi MusicWhiz,<br /><br />I'm compiling a list of Singapore Investment Bloggers...<br /><br />http://sginvestbloggers.blogspot.com/<br /><br />Have added your site in the list, appreciate if you can also create a link to the site.<br /><br />Cheers,<br />RoystonRoystonhttps://www.blogger.com/profile/17883963186215315521noreply@blogger.comtag:blogger.com,1999:blog-28021668.post-50589178308429204692010-03-23T16:12:39.139+08:002010-03-23T16:12:39.139+08:00Hm, how do you know how much your peers are earnin...Hm, how do you know how much your peers are earning? I think going by the GDP or something like that, i'm earning less than average...Rickyhttps://www.blogger.com/profile/18410941051849870875noreply@blogger.comtag:blogger.com,1999:blog-28021668.post-4929405470935791432010-03-23T02:02:04.392+08:002010-03-23T02:02:04.392+08:00Hi Investment Of The Decade,
I am somewhat of the...Hi Investment Of The Decade,<br /><br />I am somewhat of the opposite! I don't own a car but I know for a fact that I earn LESS than my peers. Perhaps that's why I don't own a car! haha.....<br /><br />Regards,<br />MusicwhizMusicwhizhttps://www.blogger.com/profile/10950754156386935254noreply@blogger.comtag:blogger.com,1999:blog-28021668.post-17115046688218932752010-03-23T02:01:01.260+08:002010-03-23T02:01:01.260+08:00Hi JW,
As part of conservative and prudent accoun...Hi JW,<br /><br />As part of conservative and prudent accounting practice, one is NOT supposed to recognize internally generated goodwill!<br /><br />Haha.<br /><br />Cheers,<br />MusicwhizMusicwhizhttps://www.blogger.com/profile/10950754156386935254noreply@blogger.comtag:blogger.com,1999:blog-28021668.post-48501854577895930142010-03-22T19:58:44.596+08:002010-03-22T19:58:44.596+08:00The society measures wealth in a strange way. I am...The society measures wealth in a strange way. I am earning more than most of my peers. Just because I am not owning a car, many of my peers perceive me an unsuccessful. Never judge a person by their appearance.Financial Journalisthttps://www.blogger.com/profile/06490416137194206916noreply@blogger.comtag:blogger.com,1999:blog-28021668.post-70462250878029140842010-03-22T09:26:52.030+08:002010-03-22T09:26:52.030+08:00Wealth can be self-created too.
I hereby declare ...Wealth can be self-created too.<br /><br />I hereby declare my water bottle to be worth $1 mil<br /><br />There you have it, my networth is a million dollars!JWhttps://www.blogger.com/profile/04633191740991225888noreply@blogger.comtag:blogger.com,1999:blog-28021668.post-60293990753971273172010-03-22T00:16:11.432+08:002010-03-22T00:16:11.432+08:00Hi Royston,
Yep that's the sad reality of lif...Hi Royston,<br /><br />Yep that's the sad reality of life. That's why we must have balance in everything we do. It's not easy to achieve this balance though, we must constantly ensure we do not tip the scales either way.<br /><br />Cheers,<br />MusicwhizMusicwhizhttps://www.blogger.com/profile/10950754156386935254noreply@blogger.comtag:blogger.com,1999:blog-28021668.post-6884576340582182042010-03-22T00:13:07.076+08:002010-03-22T00:13:07.076+08:00Hi La Papillion,
Haha well there are so many ways...Hi La Papillion,<br /><br />Haha well there are so many ways you can measure anything I guess.<br /><br />It's good you don't subject yourself to peer pressure. It can be very "fake" and makes one feel stress one shouldn't even be feeling. Good for you!<br /><br />Regards,<br />MusicwhizMusicwhizhttps://www.blogger.com/profile/10950754156386935254noreply@blogger.comtag:blogger.com,1999:blog-28021668.post-73257669168711236782010-03-22T00:10:25.078+08:002010-03-22T00:10:25.078+08:00Hi Ricky,
Haha well apparently it does not work a...Hi Ricky,<br /><br />Haha well apparently it does not work as well as I would want it! The ads don't generate quite enough to even cover a meal every month, and that's the truth. I am blogging more for passion and personal interest and also to share my journey and thoughts, rather than to make a business from this and earn "passive income". Hehe.<br /><br />Thanks!<br /><br />MusicwhizMusicwhizhttps://www.blogger.com/profile/10950754156386935254noreply@blogger.comtag:blogger.com,1999:blog-28021668.post-32887582581424805422010-03-21T23:43:54.976+08:002010-03-21T23:43:54.976+08:00Hi MW,
Yes how true. There are those who are so ...Hi MW, <br /><br />Yes how true. There are those who are so preoccupied with earning money that they forget to live their lives with it.<br /><br />RoystonRoystonhttps://www.blogger.com/profile/17883963186215315521noreply@blogger.comtag:blogger.com,1999:blog-28021668.post-74094308142044899892010-03-21T22:07:15.841+08:002010-03-21T22:07:15.841+08:00Hi mw,
Wow, I didn't know there are so many w...Hi mw,<br /><br />Wow, I didn't know there are so many ways to measure wealth. Actually I never thought much about how society measures wealth. I just need to know that I've got to hit this target and that target :)<br /><br />I'm thankful that I dun have to be in the environment of people who will judge me based on the clothes and car that I have. AND THAT IS GOOD! haha :)la papillionhttps://www.blogger.com/profile/01372278083694506953noreply@blogger.comtag:blogger.com,1999:blog-28021668.post-31373878600858859912010-03-21T17:43:24.913+08:002010-03-21T17:43:24.913+08:00You can try writing a very popular blog like this ...You can try writing a very popular blog like this and monetize it :)<br />Put some ads let readers click...money rolls in :P<br />Gotta ask MW if it works hahaRickyhttps://www.blogger.com/profile/18410941051849870875noreply@blogger.comtag:blogger.com,1999:blog-28021668.post-73789893352344355632010-03-21T12:44:37.967+08:002010-03-21T12:44:37.967+08:00Hi Royston,
Yes, it really pays to be easily sati...Hi Royston,<br /><br />Yes, it really pays to be easily satisfied, so you will not always end up COVETING, which will make one perpetually unhappy because it's never enough!<br /><br />For me, I'd rather focus on personal well-being as it can be very tiring to always "chase" after money. I heard a line once from a dying tycoon who regretted not spending enough time with family (he focused too much on making money). He said: "I am a rich man who has lived a very poor life". How true!<br /><br />Cheers,<br />MusicwhizMusicwhizhttps://www.blogger.com/profile/10950754156386935254noreply@blogger.comtag:blogger.com,1999:blog-28021668.post-33939321422472039142010-03-21T12:41:26.773+08:002010-03-21T12:41:26.773+08:00Hi Ricky,
Yes, though it takes time, effort and a...Hi Ricky,<br /><br />Yes, though it takes time, effort and a lot of discipline. It's like sowing the seeds now and waiting to bask in the shade of the tree which will be there 20 years later!<br /><br />And yes, I do agree insurance is a very important aspect of wealth building because it is a form of protection. Good point!<br /><br />Regards,<br />MusicwhizMusicwhizhttps://www.blogger.com/profile/10950754156386935254noreply@blogger.comtag:blogger.com,1999:blog-28021668.post-30493230244803878622010-03-21T12:39:33.936+08:002010-03-21T12:39:33.936+08:00Hi Createwealth8888,
Thanks for your contribution...Hi Createwealth8888,<br /><br />Thanks for your contributions. Appreciate them.<br /><br />I can't think of many other passive income sources besides dividends and rental. Perhaps other readers have suggestions on this?<br /><br />Cheers,<br />MusicwhizMusicwhizhttps://www.blogger.com/profile/10950754156386935254noreply@blogger.comtag:blogger.com,1999:blog-28021668.post-70505315794535089822010-03-20T22:53:06.111+08:002010-03-20T22:53:06.111+08:00I think the definition of wealth depends on whethe...I think the definition of wealth depends on whether you want to take it literally as in monetary sense or figuratively as in personal well-being.<br /><br />If we take it in the literal sense, then i think it can be measured in terms of total asset worth, be it cold hard cash or real estate assets.<br /><br />In the more subjective form, i think wealth can be measured by personal satisfaction in his/her own well-being. One who is greedy and yearns for the world, would never feel wealthy irregardless of his material assets. Yet one who lives simply may not need much to feel wealthy.Roystonhttps://www.blogger.com/profile/17883963186215315521noreply@blogger.comtag:blogger.com,1999:blog-28021668.post-2275768396756611942010-03-20T17:50:59.412+08:002010-03-20T17:50:59.412+08:00Any practical suggestions for other passive income...Any practical suggestions for other passive income besides stock dividends and rental income for an average person e.g can't write books to collect loyaltiesCreatewealth8888https://www.blogger.com/profile/08563834016250153049noreply@blogger.comtag:blogger.com,1999:blog-28021668.post-40534840934855517162010-03-20T17:34:44.584+08:002010-03-20T17:34:44.584+08:00That's why it's important to build up diff...That's why it's important to build up different sources of passive income while you are still able to work. <br />When passive income = expenses, that person has achieved financial freedom.<br />This is an important aspect of financial planning. Usually can buy some form of insurance to cover this aspect.Rickyhttps://www.blogger.com/profile/18410941051849870875noreply@blogger.comtag:blogger.com,1999:blog-28021668.post-4426534823277616232010-03-20T14:01:19.898+08:002010-03-20T14:01:19.898+08:00Sustainable wealth
According to the author of Wea...Sustainable wealth<br /><br />According to the author of Wealth Odyssey, Larry R. Frank Sr, wealth is what sustains you when you are not working. It is net worth, not income, which is important when you retire or are unable to work (premature loss of income due to injury or illness is actually a risk management issue).Createwealth8888https://www.blogger.com/profile/08563834016250153049noreply@blogger.com