At this point in time I am beginning to wonder how did Kiyosaki develop his board game...
Did he work from scratch based on the experience he had playing monopoly and his key financial strategies & understanding? From scratch? How? Well, that's a good question to ask, since questions can lead to answers, of course not without a search. I do believe it's possible...or might there be alternatives on the market. Let me run a quick search.
That wasn't quite quick. I took at least 15 mins reading up on The Game of Life and its background. Didn't exactly find what I intend to design which is geared towards education and the academic understanding and application of economic principles.
Gotta start work for today. Probably will think about the general layout and framework of the game later during my breaks.
I can't help but wonder if anyone who test-play the game if I asked them to.
Thursday, 29 March 2007
Wednesday, 28 March 2007
The joy of sharing
Haha...sounds like Christmas came later by 3 months...instead of sharing in December, I actually did it last night!
One was with my colleague. We talked abit of our financial futures and how his interest in managing his own portfolio and getting his freedom after reading RDPD. And he said something which I think is very reflective of the book: No, it's not "I can't get enough" but "It's not enough" in terms of how to go about doing things after getting all raved up and excited about seeing a "rich man's world." And so I showed him a book I borrowed from Shirin - Rich Woman - by Kim, Kiyosaki's wife. There's one particular chapter I like which is about finally turning ideas and words and excitement into purpose and plan. Well, I've done some "quiet time" on that yesterday and determined I need a monthly cashflow of Singapore Dollars 5500 after I grad from university.
But for now my vehicle is forex for capital gains. I haven't envisioned myself doing cashflow investments...but I guess I'll have to get there cos that is true freedom. Even trading is considered sort of active income since you have to actively trade ya know!
Haha...and well...the second incident is meeting Lionel, my understudy in camp, online. Told him about my idea of building a game around economics concept, and he said he would buy it from me if it is good! Imagine that! I've my first potential customer without even asking! Haha...anyway...my purpose is to make learning economics principles easy and fun...not to sell...
Well...we continued to talk and Lionel mentioned that he hardly can understand what the financial books and terms are about. And I think we came to a rough conclusion that we have to meet...and so I told him that I'm free Monday and Friday evenings and Saturday and Sunday mornings. He suggested Saturday morning...and I realised I might have OT on my job...so...I suggested 6.30am. I was thinking...most people will say it's crazy to meet so early...and so it's kinda a test to see if he is really interested and motivated.
I'm darn glad my dear bro passed the "test" and proved his determination. Haha, congrats Lionel(if you are reading this)! Just realised I'm not familiar with equities at all, so I better send him a msg to caution him.
And so, everyone, continue having fun learning!
One was with my colleague. We talked abit of our financial futures and how his interest in managing his own portfolio and getting his freedom after reading RDPD. And he said something which I think is very reflective of the book: No, it's not "I can't get enough" but "It's not enough" in terms of how to go about doing things after getting all raved up and excited about seeing a "rich man's world." And so I showed him a book I borrowed from Shirin - Rich Woman - by Kim, Kiyosaki's wife. There's one particular chapter I like which is about finally turning ideas and words and excitement into purpose and plan. Well, I've done some "quiet time" on that yesterday and determined I need a monthly cashflow of Singapore Dollars 5500 after I grad from university.
But for now my vehicle is forex for capital gains. I haven't envisioned myself doing cashflow investments...but I guess I'll have to get there cos that is true freedom. Even trading is considered sort of active income since you have to actively trade ya know!
Haha...and well...the second incident is meeting Lionel, my understudy in camp, online. Told him about my idea of building a game around economics concept, and he said he would buy it from me if it is good! Imagine that! I've my first potential customer without even asking! Haha...anyway...my purpose is to make learning economics principles easy and fun...not to sell...
Well...we continued to talk and Lionel mentioned that he hardly can understand what the financial books and terms are about. And I think we came to a rough conclusion that we have to meet...and so I told him that I'm free Monday and Friday evenings and Saturday and Sunday mornings. He suggested Saturday morning...and I realised I might have OT on my job...so...I suggested 6.30am. I was thinking...most people will say it's crazy to meet so early...and so it's kinda a test to see if he is really interested and motivated.
I'm darn glad my dear bro passed the "test" and proved his determination. Haha, congrats Lionel(if you are reading this)! Just realised I'm not familiar with equities at all, so I better send him a msg to caution him.
And so, everyone, continue having fun learning!
Tuesday, 27 March 2007
Control
Arguably the most impt word in Kiyosaki's, and any financial, books is CONTROL. Well...control over what? Mostly over the autonomy and decision-making over an entity/investment.
Today this concept struck me twice. Firstly by an insurance agent who tried to get me to invest in some international forex unit trust - which mainly trades in bonds and gain based on interest differentials between countries. End of the day, I simply can't know what those guys called fund managers will do with my money...so I doubt I'll go into that even if I have the cash.
Quite happy today. Cos I was doing some calculations and projections of my income and account balances by the time I enter uni...which is about 3 mths away. And I found that having a job allows me some control over how much stays in my bank account and the ability to look at and involve myself in investments proper. The question is...how do I switch from earning 1.5k now to just 700+ depending on tuition fees during my uni days?
I've decided that I need to change my income distribution strategy. And so effective April 1, my tuition income will no longer be a 50% investment fund, 30% expenditure acc, 20% UNIs; but a 60% investment fund, 30% expenditure acc, 10% charity pool. This is to incorporate my recent thought of giving back into my actual money management. Projected amount which I'll be able to give to those who need it more would be around 500 per annum. Sure hope it can increase in future.
Today Firman doesn't seem so comfortable with the nice concepts of retiring young and rich. Think he must have grown desperate so he is looking for some job security and cash from jobs now. Honestly I can't fully understand his viewpoint. But I'm sure I'll do the same. We'll work it thru somehow, and I feel it is already time we start doing what we've been talking and experimenting about. I suppose we'll learn the real stuff if we start trading and investing "live."
Hope everyone is learning, earning and having fun!
Today this concept struck me twice. Firstly by an insurance agent who tried to get me to invest in some international forex unit trust - which mainly trades in bonds and gain based on interest differentials between countries. End of the day, I simply can't know what those guys called fund managers will do with my money...so I doubt I'll go into that even if I have the cash.
Quite happy today. Cos I was doing some calculations and projections of my income and account balances by the time I enter uni...which is about 3 mths away. And I found that having a job allows me some control over how much stays in my bank account and the ability to look at and involve myself in investments proper. The question is...how do I switch from earning 1.5k now to just 700+ depending on tuition fees during my uni days?
I've decided that I need to change my income distribution strategy. And so effective April 1, my tuition income will no longer be a 50% investment fund, 30% expenditure acc, 20% UNIs; but a 60% investment fund, 30% expenditure acc, 10% charity pool. This is to incorporate my recent thought of giving back into my actual money management. Projected amount which I'll be able to give to those who need it more would be around 500 per annum. Sure hope it can increase in future.
Today Firman doesn't seem so comfortable with the nice concepts of retiring young and rich. Think he must have grown desperate so he is looking for some job security and cash from jobs now. Honestly I can't fully understand his viewpoint. But I'm sure I'll do the same. We'll work it thru somehow, and I feel it is already time we start doing what we've been talking and experimenting about. I suppose we'll learn the real stuff if we start trading and investing "live."
Hope everyone is learning, earning and having fun!
Monday, 26 March 2007
Minor Trials
Haha...not that I had to appear in the judicial courts...just some periods testing the endurance of my dear friend and partner Firman. He's definitely far from giving up from this fight for freedom...but he said to me "Look at what state we are in now" or something to that extent. And guess what, on retrospection, I actually got defensive and mentioned all that I've been "trying" to do...that I've been working on this board game, seeked out a forex fund to invest in, building my investment fund and looking into forex option...
And do you know my immediate of sending the sms when I did? I thought of encouraging him and show how that we are doing something. But I realised a good part of it was defensiveness and boastfulness. Which really doesn't help things.
When I read what I sent him now, I must sound like a egolistic being. And the effect on Firman would be far from my intention. Moreover, all those minor "successes" all came into my life by chance and not by deliberate effort. Neither did I really study them thoroughly. This is a setback but also a wake up call. A call to action instead of so much talk and probes into subjects like forex, real estate, stocks, etc.
I think the moment we really start learning is when we do things for real.
Have you done so?
And do you know my immediate of sending the sms when I did? I thought of encouraging him and show how that we are doing something. But I realised a good part of it was defensiveness and boastfulness. Which really doesn't help things.
When I read what I sent him now, I must sound like a egolistic being. And the effect on Firman would be far from my intention. Moreover, all those minor "successes" all came into my life by chance and not by deliberate effort. Neither did I really study them thoroughly. This is a setback but also a wake up call. A call to action instead of so much talk and probes into subjects like forex, real estate, stocks, etc.
I think the moment we really start learning is when we do things for real.
Have you done so?
Sunday, 25 March 2007
A game
Something's keeping me awake this 2 days. Not from sleep but from a boring day-to-day existence. So I thought maybe I can share it with you guys. Basically it's about how to creatively solve the "boringness" and "dryness" of basic economics studies. Haha, sounds impossible? I thought if people can find it fun to decide their life outcome and financial ability or war results on a board, then why not learn how to govern a country's economics and decide it's future. Well, I'll need some time to work it out, but the first step is to play other successful games, especially Rich Dad's Cashflow 101 and 202. Haha, can u believe it? I haven't even seen the game in any form before.
Secondly, to introduce my first link to my blog! It's my friend's Biz Blog so do have a look at the self-made accessories she provides yeah! Pretty interesting designs I must say.
Gotta go now, happy trading till next time!
Secondly, to introduce my first link to my blog! It's my friend's Biz Blog so do have a look at the self-made accessories she provides yeah! Pretty interesting designs I must say.
Gotta go now, happy trading till next time!
Thursday, 22 March 2007
Forex Options?
Context-expanding, this morning is! After all the talk about insurance on the stock market(or paper assets in general) presented in Kiyosaki's Retire Young Retire Rich...and the closing chapter on how he changed his perception to finally believe in a world where alot of money can be made with no money and no risk...I was wondering...how come my trading in forex can't be insured?
And that was totally foreign to me. I thought options belonged to the stock market and nowhere else, but I remember my Dad telling me about how insurance companies can underwrite (another key word!) to insure against any fall in the value of a currency for a fixed period of time for a premium.
So insurance for forex does exists! I just had to search on yahoo for "options for trading forex" and here's what I found...so that's a nice introduction for now...and I'm gonna study(hopefully with likeminded traders, possibly Firman and Eusof) such an option(pun intended!) in detail possibly over the next few weeks...
So can money be made with no money and no risk?
And that was totally foreign to me. I thought options belonged to the stock market and nowhere else, but I remember my Dad telling me about how insurance companies can underwrite (another key word!) to insure against any fall in the value of a currency for a fixed period of time for a premium.
So insurance for forex does exists! I just had to search on yahoo for "options for trading forex" and here's what I found...so that's a nice introduction for now...and I'm gonna study(hopefully with likeminded traders, possibly Firman and Eusof) such an option(pun intended!) in detail possibly over the next few weeks...
So can money be made with no money and no risk?
Wednesday, 21 March 2007
Defining my Approach
Well, today I wrote a draft as to how I would evaluate and approach forex trading and when to open positions. I would like to quote here that "all problems solved = wealth gained"...
Obviously, I see many questions marks on my preliminary strategy. Questions like how do I decide my stop loss and target profit levels, and which graphs to apply the various indicators, and even how to actually read and use the indicators and what they mean...The list can go on, but I recognise I have my skeleton which is to analyse the trends from big to small, that is, I would look at 4 graphs...Daily, 4hours, hourly, 15mins...Drawing trendlines and channels for all the graphs, I would be better equipped to spot longer term trends, before I focus on the shorter time graphs like the hourly and 15mins to spot the best opportunity to open my trade...
And obviously that system needs alot more work and defining...For now I am contented that I have started to develop my strategy and attempt to keep to it...
And I am increasingly thankful for getting the book "Retire Young Retire Rich"...one very interesting aspect of the book is on hedging against losses in paper assets like stocks...and the use of options to this end...it is intriguing to discover how I can apply such techniques to forex trading...
Another important note is that I managed to initiate one of my colleagues, nicknamed CCC, onto a more serious approach to investing by reading "Rich Dad Poor Dad"...now he can't wait to get his hands on "Cashflow Quadrants"...Now that is a very good start...but of course, like many of my dear readers know...it still requires sustained and dedicated, targetted effort...
In any case, I am happy as to what I see in my life now...and hope everyone else is happy and progressing in many ways too!
Obviously, I see many questions marks on my preliminary strategy. Questions like how do I decide my stop loss and target profit levels, and which graphs to apply the various indicators, and even how to actually read and use the indicators and what they mean...The list can go on, but I recognise I have my skeleton which is to analyse the trends from big to small, that is, I would look at 4 graphs...Daily, 4hours, hourly, 15mins...Drawing trendlines and channels for all the graphs, I would be better equipped to spot longer term trends, before I focus on the shorter time graphs like the hourly and 15mins to spot the best opportunity to open my trade...
And obviously that system needs alot more work and defining...For now I am contented that I have started to develop my strategy and attempt to keep to it...
And I am increasingly thankful for getting the book "Retire Young Retire Rich"...one very interesting aspect of the book is on hedging against losses in paper assets like stocks...and the use of options to this end...it is intriguing to discover how I can apply such techniques to forex trading...
Another important note is that I managed to initiate one of my colleagues, nicknamed CCC, onto a more serious approach to investing by reading "Rich Dad Poor Dad"...now he can't wait to get his hands on "Cashflow Quadrants"...Now that is a very good start...but of course, like many of my dear readers know...it still requires sustained and dedicated, targetted effort...
In any case, I am happy as to what I see in my life now...and hope everyone else is happy and progressing in many ways too!
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