We are currently facing tough economic times. We get bombarded by overwhelming confirmation of rising debt and unemployment when flipping through the pages of newspapers, watching the news over television or listening to the news on radio every day. Governments all over the world are facing challenging times in their quest to address the country's economic problems. People are extending their retirements due to zero or insufficient savings. And more bad news seems to be added by the various media daily!
What can you do when confronted with such tough times? You can’t control what the world will become, but you certainly can control how you manage your finances. Hence, taking action to secure your financial future should become one of your top priorities in life. While money doesn’t grow on trees, it can certainly grow if you save and invest prudently. Saving and investing are keys to growing your wealth in order to ensure your future financial success.
1 Comment
Singapore is known for being one of the most expensive places in the world to own a car. At the time of this writing, a new family car like a Toyota Corolla 1.8L would have set you back by S$165,000 (about US$132,000). If the price of a basic BMW 7 series cost nearly S$400,000 (about US$320,000), try guessing the price of a new sparkling Ferrari!
Even with such exorbitant prices, exotic cars such as Bentley, Lamborghini, Porsche or the more common ones like Audi, BMW, and Mercedes-Benz are plying Singapore roads daily. While many believe the car you drive reflects the level of success you have achieved, the reality is far from the truth!
A rat race is defined as an endless, self-defeating or pointless pursuit of a competitive activity. Imagine a rat in the laboratory trying to escape while frantically running around a maze or in a wheel. This analogy is often used in reference to work in our modern society. Most people enter the rat race to earn income. They travel to work early in the morning, work very hard to get a promotion (hopefully) and then work even harder for the next promotion (again hopefully). This corporate ladder climbing continues until they peak and stagnate at a certain level. As there is only one CEO and few senior management positions in an organization, only a handful of employees would be promoted to these appointments. What are the chances of people reaching the highly coveted management positions in the course of their career?
|
|