Skip to content

2

In our life, we only live once and it is important that we live it right.

Since we were born, we learned a lot of things from baby until we graduated and started working life and family life and so on.

It is important that we get it right especially when we reach the retirement age and there are bills and commitment to be met.

There are people who are still hesitant of what to do and what need to be done in order to have a financial worry free retirement life.

A. Why do people put off their decision?

Just share one of my experience of encountering one person who keeps asking me what to do as he is getting on his life and worry about his life for the next decade when he is in retirement.

I told him to try out online business, and if he can get on with it, he does not have to worry about his retirement life.

The last I heard from him was he was still thinking about it, and I told him we only live once and we need to get it right.

His excuse was there were so many people who had tried that and did not seem to be successful.

My answer to him was he needed to find out how many times these so called many people had put, and how many hours of their efforts to really work on the online business.

It appeared that majority of people were looking for get-rich-quick type of scheme and have the impression that online business is a get-rich-quick scheme with instant success without putting in much effort.

People put off their decision because they were not certain whether they could be successful and most importantly was they were not willing to put in their effort.

Photo by Pedro da Silva on Unsplash

B. What do we do when we need to take a decisive step in life.

We tend to be hesitant when we face with some decisions to make, a lot of people put off making the decision to a later date and let the opportunity passed by.

You know you only live once, hence it is important you live it right and grab the opportunity as hardly there is a second chance.

Therefore, if there is an opportunity to move forward and make your life better, why don't you grab it and live it the fullest?

A lot of people regret that they did not take the chance offered when they were offered the opportunity to better their life, we should remember no risk no gain, after assessing the opportunity on hand, take it and move on.

We will not be an expert if we do not fail to achieve our goal, we only know some people are great but we never know how much and how hard they had tried in order to reach what they are now and how often have they failed and how difficult their situation was before they become great.

C. You Only Live Once, So How Do You Intend To Have A Financial Worry Free Retirement Life?

To be financial worry free during retirement life, one needs to ensure we are independent and decisive in making decision when we have to decide how to live our retirement life happy and free of financial worry.

One of the way to make it is to do some online business and none better than using Wealth Affiliate to learn and make money at the same time.

Even when you are in Old Folk Home living out your remaining life, you still have the ability to earn some money and live a good life there

So for those who are serious in making it online and ensuring having a good retirement life, do the right thing and make the right decision so that you do not have to depend on your offspring for support in your retirement life if you are able to make some income from online business.

Do realize that having some handsome online business income will be good to finance your lifestyle in retirement and can even bring you money even when you are on holiday enjoying your retirement.

Just imagine the best of the world when you are holidaying and your bank account still shows money keep coming in? This si the dream quite a lot of people like to have.

photo by Chee Shi

For those who work full time on employment, they only have their monthly wages to look forward to when on holiday whereas if you are self reliance in internet business, you do not have to worry about your money as it still earns you handsome income when you are sleeping.

Then you can really brag about You Only Live Once but Live Right.

If you have any questions or wish to share your experience on this topic, please feel free to leave your comments, questions and your experience in the feedback space below and I would be glad to get back to you and thank you for your feedback, comments and sharing of your experience.

Please follow and like us:
error0

Today I am going to continue my online financial scams series as highlighted by the China Publi Security Bureau earlier this year, I believe we should share this knowledge about online financial scams so that more people are aware of the scams.

5. Fictitious Claims Scams

a. Fictitious car accident scam

The scammer acting as the relatives or friends of the victims of the car accidents, claiming that the accidents need to be settled immediately, demand the other party to transfer the compensation money.

b. Scammed kidnap plot

The Scammer informed the victims's relative that the victims have been kidnapped and unless ransoms are paid to a specific bank account and also warned that police should not be reported, if not, they will kill the victims.

c. Surgery Scam

Scammer informs the victim's parents or children that the kids or the parents need surgery immediately due to sudden attack of sickness, demand the victims remit the money before treatment can be made.

d. Dire Strait Situation Scam

Scammer act as if he is serious financial, life threatening sickness and so on and appeal to the public via social media hoping to secure some donations.

e. Reported parcel with drug scam

Scammer informs the victim that the parcel addressed to the victims was found to contain drug and required the victim to pay some money to the National Security Account so that proper investigation can be carried.

f. photo shopped obscene and lewd photos scam

Scammers collect the photos of public servants and use the computer to photoshop into obscene pictures and mail to the victim attached with the bank account number, threatening and blackmailing the public servants to pay up or risk being exposed.

g. Abortion Cost Scam

Scammer impersonating as the children to send short messaging to the parents knowing very well how the parents love their children, and convince the parents to transfer money for abortion cost.

6. Daily Living Scam

a. Impersonating as Land Lord Scam

Scammer impersonates the land lord and send short messaging to the tenants informing the tenant that the landlord bank card and account numbers have on changed and advise the tenants to pay their rental to a specified account.

b. Telephone Bill Scam

Scammer acted as they are from the tel co, calls the consumers or using the prerecorded voice message informing the consumer to pay their outstanding bills to a designated bank account.

c. Tax Rebate On Goods Purchase Scam

After obtaining the particulars and information about the victims' recent purchases of houses or cars, the scammers calls the victims to informs the victims that due to the changes in tax policies, hence they are entitled for rebate of tax and duties, ask the victims to go to ATM to execute the transfer.

d. Change of Air Tickets Scam

Scammer act as official from the airline customer service, informing the victim that due to the cancellation of flights, refund of air ticket and changes of services, require the victims to make payments on the transactions.

e. Online Ticket Booking Scam

Scammers created a fake website for ticket booking, using a much lower ticket prices to attract victims to purchase tickets online and after that using the reason that the transaction was not successful and required the victims to keep making payment online.

f. ATM Scam

Scammer jams the ATM cash dispenser slot and then paste a fake phone hot line service number at the ATM, after the victim used the number to call and they obtain the necessary details of the victims, they wait for the victim to go away and retrieve the card from the ATM and withdraw the money using the cards.

g. Credit Card Scam

Scammer calls the victim informing the victim that their credit cards details have been exposed and required the victim to provide the necessary information to scam the victim.

h. Remittance Scam

Scammers using the group chat short messaging method to require the victims to remit money to certain bank accounts, normally this happen when the victim was in the process of making remittance to banks, so without checking, they will just act on the information and make the remittance to the bank account of the scammers.

If you have any questions or wish to share your experience on this topic, please feel free to leave your comments, questions and your experience in the feedback space below and I would be glad to get back to you and thank you for your feedback, comments and sharing of your experience.

Please follow and like us:
error0

This is my third series on the Online Financial Scams.

In the second series, I quoted some online financial scams as published and advised by the Public Security Bureau of China.

In this, I elaborate more on the advice given by The Public Security Bureau of China

2. Purchasing Scams

a. Impersonating supplier to scam

The scammers act like the real online suppliers, using attractive discounts, helping to purchase from overseas as bait, once the buyers remit the money, use the excuse that the goods have been retained by Customs, need to pay additional tax as excuses, ask the buyers to pay additional amounts to carry out their scams.

b. Refund scam.

The scammers impersonate the online merchants like Taobao or JD customers services, call or message the buyers, to inform them that the goods purchased are out of stock and they need to refund the money remitted and ask the buyers to provide the bank card numbers and password and other information, to carry out their scam.

c. Online purchase scam

The scammers open online platform, once the buyers place orders, they inform that the buyers that the platform faced some problem and need to reboot. After that using messaging system to send fictitious activation code, getting the buyers to fill in their particulars, to carry out their scam

d. rock bottom price goods scam

Scammers published message such as they have second hands goods, like vehicles, computers and goods confiscated by Custom Department ready to be sold, once intended buyers contact them, and get the innocent buyers pay the necessary deposit and processing fees and scammed the buyers.

e. Termination of installment payment scam

The scammer impersonate the website workers and informed the customers that due to bank system error, require the victims to go to the ATM to terminate the installment payment plan and execute a cash transfer.

f. Collector scam

Scammers impersonating officer from the Collector Association, print invitations to all places claiming they are holding auction of collectors items and leave the contact number. Once the victims contact them, they will ask the victims to pay for valuation and assessment fees and require the victims to remit the amounts to designated bank account.

g. Courier receipt scam.

Scammer impersonating they are from courier company and call the victim that there is a courier item to be delivered, however the address and information are not clear, hence require the victim to provide clearer information before goods are delivered, once the victim signed receipt, they will call and inform that the victim has acknowledged prepay of money, if they do not do so, the debt collection company will look for them.

3. Events/ Activities Scams

a. Promoting fictitious charities' message

Scammers put up a missing person poster and ask good Samaritan will help to spread the news about the missing person without realizing that the contact number posted is a scamming phone number.

b. "like" scam

Scammer post as merchants who promote the 'click like' will win prize campaign, requiring participants to provide their name, contact number and other personal data to a social media platform, after securing enough data, they call the victim and inform them that they have won a prize, however to claim their prize, they need to pay certain amount to guarantee their prize.

4. Incentive Inducement Scams

a. Impersonating well-known corporate for lottery won.

Scammers impersonating a well-known enterprise and printed a lot of high resolution lottery tickets and mail to targets, after that will inform the victims that they need to pay personal income tax for the winnings and ask the victims to disclose their main bank accounts numbers to remit the money.

b. Win prizes in entertainment program.

Scammers use the popular entertainment program to message the victims that they had won the lucky draw prize, however to get the prize, they need to furnish their income tax number or pay a guarantee amount to secure the prize.

c. Bonus Points Scam

Scammer call the victims telling the victim that their phone points are entitled to convert to cash, seducing the victims to click on the phishing link, if the victims click on the link and input their bank details and passwords, their account balance will be transferred away.

d. QR Code Scam

Using discount, incentive as bait, ask the victim to scan the QR Code to be a member, the QR Code has a Trojan Horse in it and once scanned, the scammer will use that Trojan Horse to steal the particulars of the victims' bank details.

e. Paying huge sum for a kid scam

The scammer tell the victim that he is willing to pay huge sum to have a kid and is prepared to pay the sum to show is sincerity

f. Highly Paid Job Scam

Scammers, via social media, advertise that they are hiring professional with attractive salary and request any victims to be at the designated place for interviews, after that demanding the victims to pay for training, uniform and guarantee fees.

g. Email Scam

Scammers use email to inform victims that they have won lucky prizes and once the victim contacts the scammer, scammer tell victim that they need to pay for the income tax for winning the prize and also the guarantee fees for the prizes and demand the victim to remit money to secure their prizes.

If you have any questions or wish to share your experience on this topic, please feel free to leave your comments, questions and your experience in the feedback space below and I would be glad to get back to you and thank you for your feedback, comments and sharing of your experience.

Please follow and like us:
error0

2

The China Public Security Bureau last month published a list of the online scams on their website to warn people of the usual scammers' tricks.

The report was a very comprehensive list consisting of 60 methods used by the scammers.

The methods used were summarized by the China Public Security Bureau into the followings categories:

  1. Impersonating officials.
  2. Purchase scams.
  3. Events/Activities scams.
  4. Incentive inducement scams.
  5. Fictitious claims scams.
  6. Daily living scams.
  7. Trojan Horse, phishing scams.
  8. Other new illegal cheating scams

1. Impersonating officials/ other people identities.

a. Impersonating some leaders to cheat: 

The scammers impersonate some leaders to make calls to some heads of departments on the pretext of selling books; or some memorial coins to scam the departments concerned to remit money to the designated bank accounts.

b. Impersonating relatives to scam: 

Using Trojan Horse malware to obtain target internet user names and passwords. After obtaining the required IM information, they use the targeted user's ID and password to inform the relatives that there has been an emergency or accident and then requested the relatives to remit money to some accounts.

c. Impersonating CEO s of companies: 

Scammers use the companies internal communication system to understand the communication between the CEO and the employees. After that they impersonate the CEO to instruct the staff to transfer some money to their accounts.

d. Scam on subsidies, scholarships and study grants: 

Impersonating education officials, relevant authority or officials to call or send short messages to parents or students, claiming they can help to get the money needed by them. They then ask the victims to provide the necessary cards' numbers, then instruct the victim to transfer some money in order to receive the main money.

e. Impersonating police officers: 

The scammers call the victims and inform them that they are from the police department and tell the victims that their personal data has been used in some illegal money laundering transactions and they need to transfer the money to the national bank accounts to assist in some investigations.

f. Impersonating identity: 

Scammers act like they are some rich and highly qualified persons. After gaining the trust and confidence of those they call, they will then pretend there are some financial issues or their relatives badly need some financial assistance and so try and scam their friends.

g. Medical insurance and social security scams: 

The Scammers act like they are from the Medical insurance or Social Security departments and inform the victims that there are some irregularities in their accounts and they need to do some investigations. Then they use their new status to convince the victims to give them the necessary information.

h. Guess who I am: 

Scammers call the victims and ask them to guess who they are. They pretend they know each other very well, and they will proceed to borrow money from their unsuspecting victims. Some victims fail to verify the identity of the callers and straight away remit the money to the bank account provided by the scammers.

The above is the first series of the information on Online Financial Scams 

If you have any questions or wish to share your experience on this topic, please feel free to leave your comments, questions and your experience in the feedback space below and I would be glad to get back to you and thank you for your feedback, comments and sharing of your experience.

Please follow and like us:
error0

12

If you talk to anyone whom you know very well, it is likely that they will tell you they don't believe they could be targeted by the online scammers or they will ever get (caught or) scammed (by scammers).

It is human nature to think that this will only happen to others and not us, it is a myth to believe that negative incidents and bad luck only happen to others.

There are a lot of online scams nowadays as technology gets more sophisticated and advanced. Any invention is a double edged sword. It depends on the users and the creators whether it is put to good use or otherwise.

What Are Some Common Online Scams?

  1. Email Scams
  2. Credit Cards Scams
  3. FaceBook Scams
  4. Job Offer Scams
  5. Investment Scams
  6. Financial Training Scams
  7. Wechat IM scams

1. Email Scams

There have been a lot of scams using emails. I have received a fair number of these emails from people claiming they worked in certain banks and the bank customers had passed away. Hence their funds were sitting idle in the bank and they could help get the funds out and so on.

Example of the email scam

2. Credit Cards Scams

At the back of the credit card, there is a Card Verification Code, commonly known as CVC number. Banks tell us that the CVC number is unique and we are not supposed to let anyone know this number as this is one of the safety features of the credit cards besides the chip on the card.

However every time we do an online purchase, the merchant requires us to fill in the CVC number. Previously when there was no CVC number, we only had to fill in the credit card 16 digit numbers. Due to various credit cards fraud cases, the banks decided to create the CVC as a security measure and to verify that the user is the legal card holder.

So, if you pay for something online and you are required to key in the CVC number, how do you know the number will not be captured by any malware or whatever if the online system is hacked.

3. Facebook Scams

There are a lot of fake Facebook accounts. Facebook does not ensure that those who register for the accounts are legitimate. Users can use any names to register and open an account. As such, it is quite difficult to determine whether the person you befriend or connect with on Facebook, are really who they say they are even thought they use photos in their profiles.

It can be quite dangerous, especially with online transactions, cyber bullying and even false "friends".

On 16th February 2019, The Straits Times of Singapore reported that at least SGD $ 1 m lost to Facebook impersonation scams between January 2018 and February 2019, according to the Singapore Police Force. It was further reported that the Police had received at least 42 reports where victims were contacted on Facebook and duped into transferring money to the scammers.

To read more of this, you may want to access the Straits Times of Singapore for more details.

4. Job Offers Scam

Another big scam which i came across is the job offers scam. You may receive an email informing you that you have been offered a job or selected to work for a certain company overseas and so on. Then they send you a contract and tell you to contact an "authorized" travel agent to process your work visa and whatever paperwork you may need to work in the country where the job is.

They may also tell you to pay for the cost of the permit or visa and remit the money to certain bank account. If you bank in any money it will be gone and if you try to query them on the legibility of the procedure, they will not bother to reply to your email. Your money will just be lost.

Example of job offers scam

5. Investment Scams

This is the most common scam and there are aplenty online where many claim to get rich making at least a thousand dollars per day by signing up for the offer.

A lot of Option Trading platforms claim to make their investors rich within minutes. If people fall for this, they may soon discover they are not able to withdraw their capital and their so called winnings. After a while, the platform will no longer be available. It has been reported (discovered) that these were operated by a group residing in certain countries in the Middle East specializing in this scam.

6. Financial Training Scams

This is another scam which claims to be legitimate and provides financial training for people who want to learn how to invest or trade online. (They offer to conduct the necessary training so tht you are able to trade online). During the course of the training, they ask you to open an account with a trading platform so that they can guide you in your investments. The platform is similar to the platform mentioned in No. 5 above.

If you check the caller ID, it may look like they made the phone call is made from the country you are residing in. However, when you call back, you discover that the number is not a local number and cannot be reached. Before you know it, any money you put in is completely lost!

7. Wechat IM scams

Currently there are a lot of scams using the Wechat IM system. Usually in these scams, the culprits try to trick the victims into giving them their online credits or gift cards for making purchases, usually in exchange for sexual favors

Above are some online financial scams now commonly used to try to scam people who are ignorant. They usually work on the greed of people who want to get rich quickly and easily.

(You Know You Only Live Once and), if we are not alert and prudent, we can easily fall for these scams. Many have lost their hard-earned life savings and have had their retirement plans shattered.

If you have doubts on how to detect online financial scams, you may want to check out Federal Trade Commission Scam Alerts I find this FTC site has very useful information to help in our effort to detect online financial scams and save us from any unnecessary financial losses.

Please follow and like us:
error0

10

During retirement or when preparing for retirement, one of the questions people like to ask was how much would be enough for us to retire without any financial worry and independent?

Then the next thing is the myths of retirements and the reality of it, how do we handle these issues?

So what are the myths of retirements?

  1. We can start preparing for our retirement later.
  2. Our Savings will be enough for our retirement.
  3. We will spend less in our retirement life.
  4. We will have a lot of free times during our retirement.
  5. Health issues do not slow down a person until much later.
  6. We can start our savings plan for retirement later.
  7. The health insurance will be taken care of.
  8. Invest in safe and stable financial instruments to lower risk and preserve capital.
  9. The Retirement Fund is sufficient for retirement.
  10. Still, can work during retirement.

1. We can start preparing for our retirement later.

People like to put off what they are supposed to do to a later date especially on retirement. And this is quite a serious problem if we do that as the longer we put off our retirement financial plan or wealth plan, the less we will have accumulated for our targeted funding for retirement.

The power of compound interest will come into play in our wealth plan and the later we start savings for our wealth plan, the less amount we will have in term of compounded interests accumulated. Which will be quite a substantial amount which we may regret later for not starting earlier.

2. Our savings will be enough for our retirement.

Enough Money for Retirement?

Whether the amount saved for retirement is enough or not, is anybody guess, there does not seem to be an amount which is the right amount for retirement as there are so many variable involved and also very much depend on where one is residing and the lifestyle one has and hoping to have upon retired.

3. We will spend less when we are retired.

Nice Food For Retirement

I hear a lot of this when I talk to people about retirement and the usual norm is one will spend less when one is retired. Is it really the case? some may have more to spend on health and medical, others may have to spend more when they move to a new place to retire instead of staying put at the place they used to live during the working life.

4. Having a lot of free time during our retirement.

Relaxing on Retirement

Conversation I have with people going to retire is they currently put off whatever they want to do until retirement because they have the impression that they will have a lot of free time during retirement and they can do whatever they plan to do.

The reality is -- do you really have a lot of free time during retirement?

It will be a shock to some people when they find out they need to adjust their retirement plan as they go along and realize they are busier than their working life!!! as when they are getting used to retirement life and find out they have planned a lot of activities and not able to cope with.

5. Health issue does not slow a person until much later.

There is a possibility that once a person retires and suddenly there is no much pressure and stress, the body takes time to adjust to relax mood and all of a sudden, those problems in the body start surfacing and the person will face a lot of sickness such as hearing issue, movement problem, pain and aches and so on and this will surely mean we need to incur more to solve these healths issue.

6. We can start our saving plan for retirement much later.

A lot of people decide to delay the start of saving for retirement and prefer to pay off the house mortgage, children education loan and so on without realizing that the more we delay the start of the savings plan, the more we need to save in the later years in order to have a bigger nest of funds for retirement and we may have to adopt a more aggressive.

As mentioned earlier, the power of compound returns which can help to achieve financial security.

7. The health insurance will be taken care of.

Photo by rawpixel on Unsplash

Quite a lot of people depend on the health insurance for the golden year and most of the time the policies which were purchased in their younger day do not seem to be the right policies for the purpose intended and if a new health policy is required to meet the requirement, it will be very costly.

The next question one needs to ask is, what are really covered in the health insurance?

8. Invest in safe and stable financial instruments to lower risk and preserve capital.

This is a big headache for a retiree to consider, to move to a stable and low risk investment, the return may not be as high, this will affect the growth of your savings fund, the immediate problem one needs to face will be the rate of inflation will be higher than the return on investment.

If the rate of inflation is higher than the growth and return on investment of the fund, sooner or later it will affect the availability of the fund for sustaining the lifestyle of retirement, and the situation will become more acute if one's life expectancy is more than 90 years old.

9. The retirement fund is sufficient for retirement.

People may have set aside some fund specifically for retirement besides the savings they have, the main question one needs to ask is - whether the money in total set aside for retirement is sufficient and if it is not, what needs to be done to ensure we have enough for retirement.

How do we determine the retirement fund is sufficient? there is no any hard and fast rules on this, it all very much depends on the needs and requirement of each individual.

10. Still, can work during retirement.

Plant Durian in Retirement

A lot of people have the idea that retirement means stop working, which will actually cause a lot of issues and problems,

Are we retiring from work or from life? there is a different between the two and we have to make sure we are not retired from life and do nothing.

If we used to work every day and active, when suddenly we drop every thing we are doing and declare " I am retired", that is the end of it, a lot of problems will arise and you will be facing a lot of issues if you are not able to adjust to the retired lifestyle, sooner or later, the mind may be as sharp as it used as suddenly one stops using the mind, as we know, our mind stays sharp the more we use our brain and our mental will stay healthy if we consider using it.

Likewise, our body also stays healthy and mobile if we consider to exercise and move around more often instead of just sitting around and lazying away.

We may want to start a second career which is less taxing than our first and enjoy retirement at the same time, not to mention it may generate and supplement our income for retirement.

So, what can we do to mitigate the impact on retirement and at the same time enjoy our retirement?

For those people whom I have had discussion with, I always encourage them to start a second career or do something less taxing and which can generate income for their retirement at the same time can learn some new skills.

With the advancement of technology and availability of internet, it is good those who want to retire or soon to retire can start learning some skills about online business.

I found that Wealthy Affiliate is a good platform for a person to learn, a person can learn a lot from Wealthy Affiliate, such as learning how to create a website of your own, how to use the internet in a more productive way, how to link with other social media and so on, some basic computer skills which will come handy when one retired and have ample time to learn in this WA community.

By doing so, it can also help to keep a person's mind sharp and in a healthy state.

If you have any questions or wish to share your experience on this topic, please feel free to leave your comments and questions and your experience in the feedback space below and I would be glad to get back to you and thank you for your feedback and comments and sharing of your experience.

Please follow and like us:
error0

6

Healthy SupplementIs There Some Secret Ways To Have Happy Retirement?

When a person thinks of his retirement, normally people will only look at whether we have enough to last the duration of the retirement.

Assuming you retire at the age of 55, and the normal life span of a person may be 90, hence you will have 35 years to enjoy or suffer when you start your retirement.

Hence, the question arises, in order to be able to live out this 35 years, how are we going to ensure we have a happy and healthy retirement life?

People tend to think of ensuring money in the bank or in hand to live out the 35 years will be fine already and neglect the health in body and mind, if we do not have a healthy body and mind, even though we have ample money at our disposal during our retirement, we will not be able to achieve our objective to have a healthy and happy retirement.

In order to really enjoy our retirement, besides financially independent, it is important to keep a healthy body and happy mind.

So we have to take care of the three important issues as follows:

1. Financially independent.

2. Healthy body.

3. Happy mindset.

I have covered some points in my previous posts about financially independent to enjoy a good retirement.

Now I am trying to bring to attention of the need to have a healthy body and happy mindset.

Healthy Body

If we want to remain healthy and ensure our body stays active for many years to come, we need to take good care of our body and eat right, exercise correctly and if possible take some good vitamins and minerals or supplement, this is to maintain and supplement the vital nutrients we lost over the years as we age and help our body to function and maintain at certain level.

Nowadays, people are very conscious of the food intake and always go for healthy food, preferably eat some natural food instead of processed food, and some even go to the extent of having a dietitian to prepare and map out a menu for them to follow.

I would have thought as long as we took simple and natural action like taking fruits, vegetables and whole grains as the key to maintain a good healthy diet, and trying to avoid meats will do as we are trying to be thrifty in our retirement and still manage to get enough nutrients and the necessary minerals required by our body.

Other than the food intake, it is important also we have adequate exercise and exercise correctly, this is to maintain a certain level of fitness for our body so that we can have the necessary metabolism of our body.

Brisk walking is one form of exercise which can be done anytime during our retirement and it is free as long as you have a good pair of shoe for walking and it is important to ensure we spend certain times per day to walk briskly.

Happy Mind Set

Photo by Mathias Konrath on Unsplash

As long as we are happy, and we have a positive mind set, we will definitely lead a very happy and healthy retirement life as a happy mindset will surely lead to a healthy body and if one is happy always and have positive attitude, things will look up and bright up every body surrounding him and spread the good energy around.

Therefore, if we exercise right, keep a healthy lifestyle and eat healthily, we will have a very healthy and happy retirement

If you have any questions or wish to share your experience on this topic, please feel free to leave your comments and questions and your experience in the feedback space below and I would be glad to get back to you and thank you for your feedback and comments and sharing of your experience.

Please follow and like us:
error0

8

Making money is easier said than done.

Do we still need to make money when we retired?

I am sure a lot of people must be wondering and worried whether they can sustain their retirement especially when they outlive their expected lifespan.

As I mentioned my previous posts on retirement and the need to get prepared for retirement. One of the most important thing we need to address is to have continuous income during our retirement.

People in the oriental part of the World used to have the culture ingrained from long time ago is to raise a family so that the sons or daughters will look after them after they get old and retired.

It was supposed to be the duties of the sons and daughters to look after the parents, however this type of thinking may not work in the modern world.

So, what can the old folks do in this case when the children are not able to take care of them?

I would suggest the children to teach their parents to be computer savvy and learn some skills in online business and start them on the right footing if they do not bother to take care of their parents in the future, This is the least they can do to show their filial piety gratitude to their parent.

It will be good if those who are reaching retirement age can start learning how to make some money doing online business and be financial independent and free during the retirement.

What Can A Retiree Do In Online Business To Be Financial Free?

there are so many ways a person can achieve financial freedom especially using the technology available now on internet, so in a way, the retiree nowadays are more fortunate than those who retired said in the early 1970s

In the 1970s, when there was not internet, and to have passive income, a person might have to engage in some business and made sure the business would bring him good income in his retirement.

In the modern age, with the readily available internet and the advancement of technology, it is easier for anyone to make a living online and for those who want to retire and not to worry about money.

There are so many avenues to make money online, some people have been spending hours online in the social media nowadays and if the times can be spent in generating income will be better and good for retirement.

Among the most common methods being used are:

1. Setting up a store online and sell physical goods/products.

2. Getting involved in affiliate marketing and earn some affiliate commission.

3. Using internet to do online trading of shares, forex and other financial instrument.

4. Contents creation and proofreading of contents.

5. Provide online training courses using experience and expertise gained before retirement.

What To Avoid When Trying To Do Internet Business Online.

A lot of people may think it is just setting up a website and that is it, Money will come in to you.

A lot of people will eventually fall to prey of those scammers online who prey on ignorance and naiveness of people and I believe there are a lot of people who have tried internet business and ended up being cheated of their hard-earned money.

Therefore, before you decide to embark on this course of action, it will be better for you to do a bit more research and look at the reviews of whatever you come across.

Take for example, you have decided to do online stock trading using the available software and platform, I would suggest you really understand the software/platform provider, to be on the safe side, it will be better if you can go along with those platforms provided by the banks or stock brokers whom you may have been using to buy your stock or build up your investment portfolio.

Likewise, if you decide to get involved in forex trading or option, do understand the mechanism of it and select the right platform for you to perform the necessary work.

There are a lot of people offering courses in how to make money online and claimed to have ample success in doing so.

Most of the time, after you have enrolled in the courses and attended the courses which is normally conducted over the weekend, you suddenly find out you learn very little from the two days courses and was informed by the seminar host that if you wanted to learn more, you needed to enroll in the more in depth courses they have available, and you recalled when you attended the briefing, they claimed they would reveal the secrets' method they used to achieve their success if you signed up for the two days courses!!!.

For affiliate marketing, there are quite a lot of affiliates program available, here again we have to really study and find out which one really can get you good money, some claimed they pay well if you are able to promote their products.

Another business model people will use to make money online which the retirees may want to consider is the publication of e-book, since retirees may have quite a lot of times and rich wealth of experiences, you may want to start writing e book to share your experience on topics you may have encountered.

Sample of ebook 

If you are not good at writing, you may want to get some ghost writers to write for you by telling them what topics you want to talk about and then you vet and edit the work produced. Then you get a graphic designer to help to design your e book cover and then publish your e book in Amazon or whatever platform which you think you may have a better audience.

Once you have done that, you may want to sell your e book in Amazon Kindle Store

What Will I Recommend To Start and Prepare for Internet Income For Retirement?

If you are not in a hurry and have ample times to prepare for your retirement and if you wish to learn and enrich your knowledge about online business, I would strongly recommend you have a look at Wealthy Affiliate.

In this Wealthy Affiliate community, if you really follow the training outlined in the website and actively participate in the discussion and posting questions, you will be surprised to learn that there are a lot of people in this community who are willing and readily available to share their experience and knowledge on making a success in online internet business.

If you have any questions or wish to share your experience on this topic, please feel free to leave your comments and questions and your experience in the feedback space below and I would be glad to get back to you and thank you for your feedback.

Please follow and like us:
error0

7

Value Investing Review - The Best Way To Invest To Gain Financial Freedom

To have a good retirement, one of the things we need to do is to have a good investment plan.

A good investment plan is needed to ensure we have sustainable and steady income while we enjoy our retirement.

There are so many investment methods and plans in the market and we are sure to have been approached by financiers, insurance plan sellers, private bankers and so on various investment plan and methods.

What is investing?

Investing can be investing in assets, properties, stock and some other types of financial instruments which add value to our initial capital.

Why do we invest?

Normally we invest to earn some extra income from the assets we put our money in or any target we are aiming to have a good return.

We should have some predetermined target and returns for our investment before we decide to invest our money in the assets.

Majority of the people will invest in stock and financial instrument readily available. However, we must be wary that in everyday life, whenever we meet up with friends for some casual chats, we will notice most of the time, the conversation will be centered on how much certain people have made in the stock market today or the day before or last week.

It brought to the question on whether it was investing or trading of stocks in the market.

What Is The Different Between Investing And Trading

Investing is about building of wealth over an extended period of times through the buying and holding of stocks, bonds, mutual funds, REIT or any other financial instruments, normally this is done with the aim of taking advantages of the dividend, interest and bonus issues of shares over a period of times. 

People who are investing will rely on the market fundamental of the stocks and the performance of the companies invested in.

Whereas in the case of trading, it is a more frequent buying and selling of stocks, bonds, mutual funds and financial instrument. The goal is to outperform the buy and hold investing and may set a target of certain percentage of return per month and per year

We will notice most people in stock market are actually doing trading and not investing as investing tend to be slow to see the results and people may not have the patient to see through.

The irony of this is the successful investors who are in the market are the one who are doing investing instead of trading and to value investing is one of the method most successful investors used to grow their wealth.

What Is Value Investing? 

Value Investing as defined in Wikipedia is an investment paradigm that involves buying securities that appear under priced by some form of fundamental analysis.

Value Investing was first taught by Benjamin Graham and David Dodd and they stated that to value investing had three main characteristics of financial markets:.

  1. The prices of financial stocks are subject to significant movement.
  2. All the financial assets have underlying or fundamental economic value that are relatively stable and which can be measured with reasonable accuracy by any investor who is very good and follow strictly with set of investing rules and relying on intrinsic value of the stocks.
  3. A superior returns in the long run will show it is a good strategy to buy stocks when the market prices are much below the intrinsic value of the assets.

Why do I recommend you to learn to value investing with Value Investing College?

I recently attended a course conducted by Value Investing College over one weekend which is a boot camp of three days.

In the boot camp program, the trainers taught us on what were Value Investing and how to make use of Value Investing to growth our portfolio of investment.

The strengths of Value Investing College

  1. The boot comp taught the participants on the concept and theory on Value Investing.
  2. They gave a systematic method of using the Value Investing steps.
  3. They also taught on personal money management skill.
  4. Bootcamp also taught us on Economic MOAT of a stock.
  5. The Bootcamp covers the P.I.E.C. Analysis whereby we learn about profit, income of cash, efficiency and conservative approach in investing.
  6. The next subject we were taught was R.I.S.K. Analysis where we were looking at regulatory risk, inflation risk, science and technology risk and key people risk of the potential company we wanted to invest in.
  7. Other subjects covered in this course included valuation methods, management team assessment, how to identify the stocks/companies, portfolio management.
  8. The final subject which we would learn was on Value Investing Options Strategy

from the above subjects which were covered during the three days course, there were a lot of exercise and team discussion and play to actually worked through the theory learned and understand the underlying concept.

The trainers were very good and clear in their presentation and the course materials were very informative, clear and concise, easy to understand and grasp with the concept.

Even for those without any finance and investment technical background, it was not an issue because the course was conducted in such a way, a layman would understand easily and benefit from the boot camp.

Value Investing College also allow those who attended the boot camp to attend any subsequent boot camp without any charges, if the participants felt that they needed to have continuous learning, they were welcome to attend the boot camp again, they only needed to take care of their meals during the three days.

Value Investing College is also a lifetime learning college, once a person attended a boot camp, he or she would be a member of the college for life and would be able to tap on their support.

The disadvantage of Value Investing College

The only disadvantage I could think of is if you are a day trader or technical trader who prefer to have short term profit and relying on technical analysis of the price movement and the chart, then Value Investing College may not be the place for you to learn how to invest.

The fees may be a bit costly for someone who intends to start doing investment, however, if you think of it as a long term investment itself from the knowledge you will gain from the boot camp and the lifetime support the college provide, The investment you make in attending the course will be the best investment you have ever made.

For anyone who wants to learn investment, I would recommend attending the boot camp conducted by Value Investing College and be a lifetime member to benefit from it and happy investing. 

This is one of the way to earn sustainable income for retirement which is through value investing.


Please follow and like us:
error0