Everyone procrastinates from time to time, be it completing a simple task or embarking on a journey. To put something off until tomorrow is simply part of being human and many viewed procrastinators as inherently lazy or inefficient. However, from another perspective, procrastinators can be driven by perfectionism and they often put off a decision because they are afraid of making the wrong or less ideal choices. In the context of beginning a financial journey, starting early with a longer investment horizon and the magic of compounding effect is preferable to waiting around for the perfect opportunity.
As a way of introduction, I am currently a 28-year-old working adult in Singapore and financial independence is one of the ultimate goals which I hope to achieve.
As a way of introduction, I am currently a 28-year-old working adult in Singapore and financial independence is one of the ultimate goals which I hope to achieve.
During my adolescence, I have been instilled the virtue of saving. I have been diligently saving up my “red packet” money and my NS allowance and more often than not, missing out on all the fun. On one occasion, I was being explained on the concept of inflation and how stashing money away in tin can / bank account is equivalent to making a loss in the long run since the saving’s interest rate of 0.05% is much lower than the inflation rate. I know then that I had to do something about it but the lack of knowledge to start investing and my lazy and procrastinating nature got the better of me.
After my graduation from University in 2014, I was lucky to accumulate enough savings to clear my study loan debt and entered the following phase of working adult life debt-free. Subsequently, I have first started dabbling in investing in the same year. I still remember vividly that my investing journey has started when I set up a brokerage account while attending the Invest Carnival by SGX. Looking back, sometimes I wish I have started investing earlier given the power of compounding and not be distracted by insignificant matters. It’s easy to feel that life has passed you by. Nevertheless, I have drawn inspiration from the following Chinese proverb:
“The best time to plant a tree was 20 years ago. The second best time is now.”
It is never too late to accomplish the things that you have been wanting to accomplish and I hope that with the online proliferation of financial resources, everyone else will embark on their financial journeys soon.
The setting up of this financial blog really marks an important milestone in my life. It has always been something that I wanted to do after the reading of blogs by various financial bloggers has inspired me and piqued my interest in the financial sphere. It has been on my to-do list to document my investment journey during my transition to adult working life but starting seem to be always the hardest part. At some point in time, I have to drop all these excuses and let action speaks for itself.
I hope that this financial blog will allow my investment strategies to evolve from mere dabbling to sound judgement and consideration and at the same time, to pen down my thoughts and reasoning during any decision-making process. It would also allow me to set realistic financial goals for myself and to keep track of my investment portfolio. Along the way, I might also touch on various non-financial areas for personal development purpose.
As a novice investor, I am still learning each and every day and I wouldn’t dare say that I am in any position to educate others but it will definitely be an added bonus if this blog can help others in the process. I have interacted with others who know the importance of investing but have not taken any action due to various reasons. The boy who procrastinates has made his first step to stop postponing his actions and I hope this can also motivate other procrastinators.
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