Financial Independence is about making your money work for you so that you can spend less time working for it if you choose to.
Getting and staying on a path to FI can be challenging, given how we’re often taught to value consumerism, which in turn is fueled by a lifetime of working and living to spend everything we earn.
If you’re determined to buck this ‘norm’ like I am, you’ll need a lots of helpful advice and a constant dose of inspiration to keep going even when the going gets tough, which is why I scour the internet in search of the most helpful blog posts, videos, podcasts and everything else in-between that’ll keep you reaching for that FI finish line.
Here are my favourites for this week. Go get yourself a cup of coffee and enjoy! ☕
Syfe Portfolios: Which Would I Pick to Invest In | Suyin Ong. Robo-advisors are rapidly gaining popularity among Asian investors thanks to their low fees and almost non-existent barriers to entry. Here, personal finance YouTuber Suyin Ong gives us an in-depth introduction to Singapore-based Syfe, which stands out from the crowd with its REIT-specific portfolio and for Malaysians, the option to diversity into assets across the border.
Cheap Insurance in Malaysia: What, Where and How to Get Them | Ringgit Oh Ringgit. Living on a tight budget and looking for medical insurance that won’t burn a hole in your pockets? Suraya Zainudin does an amazing job of breaking down your lower-cost options that most Malaysians don’t know about (but should).
How Much Does It Cost To Own And Keep A Cat In Singapore | Dollars And Sense. Not specifically FI-related and written for Singaporeans, but if you own a cat (or several), this one’s an eye-opener regardless of where you live. Having been a cat owner myself for over 30 years, I can attest that being responsible for one requires a significant financial commitment that will last well over a decade. If you’re thinking of adding a feline companion to your family, read this first.
2021: How Investors Reacted To COVID-19 | StashAway. When it comes to money, mindset is just as important as strategy, which is why I found this report on investor behavior throughout 2020 so eye-opening. Did people invest more or less during the pandemic? What did most of them do with their money as COVID-19 wreaked havoc on a global scale? How did their money habits change over the last 12 months? It’s all here for you to steal potentially life-changing lessons from.
Best Premier/Priority Banking In Malaysia | Dividend Magic. Ever wondered what the words ‘premier’ and ‘priority’ mean in the world of banking? How do you qualify for it? Does it really make a difference in your overall banking experience? Leigh’s done a deep dive into the topic and spells out the benefits you can expect from some of our biggest banks once you get on the red banking carpet.
I am Malek Ali and This is How I Invest | fi.life. “I’ve learnt that although we can hope for the best, we need to plan for the worst”. Being a regular BFM listener and a follower of Malek’s work, I had to read this and am glad that I did. He’s generous with his nuggets of wisdom gleaned from decades of investing and entrepreneurship failures and successes, making it mandatory reading for anyone on the path to FI.
Recommended Tools & Resources
*Note: These suggestions contain affiliate links, which means that I’ll earn a small fee if you decide to use them. Using these links won’t cost you anything extra, but it’ll allow this blog to earn some money. If you use them, thank you 🙂
StashAway puts my cash to work by diversifying it into baskets of global exchange-traded funds (ETFs) safely and easily according to my risk appetite minus the freakishly high sales and management fees that come with unit trust funds. Sign up here to save 50% on management fees when you invest up to RM100,000 for your first 6 months.
THE MILLIONAIRE NEXT DOOR by Thomas J. Stanley and William D. Danko
This is the very first book I ever read about money, and one that opened my eyes to what it really means to be wealthy and how the true rich (ie people who have a lot of money and are smart with it) make, manage and use the green stuff.
YOUR MONEY OR YOUR LIFE by Vicki Robin
I consider this mandatory reading for everyone, no matter where you are on your financial journey. If you’ve got questions about how to develop good habits around tricky subjects like debt, earning, spending and your relationship with money, this book’s got the answers.
THE 4-HOUR WORK WEEK by Timothy Ferriss
This isn’t a personal finance book per se, but it is about making money in ways that have nothing to do with working a 9-5 job and introduced me to the idea of mini retirements. If lifesyle design is your thing, this is a must read.
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