Declining purchasing power: make more money to stay same spot
‘Invest in stocks? Trade forex? Too risky lah!’ But but this is picture says die die also must trade. Because at the existing inflation rate in Singapore and the interest on savings banks are giving you, you will be worst off in future. Unless your job gives you minimum 3.15% increment every year.
‘Is forex trading risky?‘ Not any more than any other investing activity. ‘Where will decreasing purchasing power affect me?‘ Where it hurts most: Housing, Transport and Healthcare.
Four things to do to stay happy, wealthy
‘Ok I think I am convinced. What do I do?‘ Well I said it before and I say it again now; there are not many options available to an individual or household. You can:
- Bochup. Because if you don’t know its there, it is not there.
- Complain, talk to Member of Parliament, maybe some program will come up in next year’s budget.
- Cut household expenses. I don’t like this because saving money is passive. And then cut away beef steak at restaurant, eat luncheon meat at home only can but cannot cut away things like medical, transport and handphone expenses to stay in touch right? Right?
- Lastly, make more money.
Director, TerraSeeds Market Technician Pte Ltd. Trader, investor. @sohtionghum was picked ‘Top 70 Forex Twitter in 2015’. Operates multiple strategies.
“Dear reader, I do not have a financial license to give advice. I do not know you the reader. Your financial objective and risk tolerance may be different from mine. I am not responsible for any consequence of your action.