Standing on Shoulders of Financial Giants
Also reading a book "The Millionaire Next Door" by Thomas Stanley at the same time. A bit greedy of me :)
The journey towards financial independence is made easier by those who go before me and whose insights and thinking has forced me to rethink what is important in investment. Without these giants in investment and finance, I would have lost myself in the myriad pathways and maze like investment world.
Been meaning to read these two books which has been on my list of must read investment/personal finance books.
One offers insights into what are the characteristics of millionaires in America through a long study. Basically, it may surprise you that these people are your typical firemen and teachers, small businessmen in ordinary jobs who managed to eke out their millions through frugal living and shrewd investments.
The other shows the power of one of the investment tools, ordinary stocks, through a long period and their astounding returns. Illustrating the concept of compounding interests on your investment.
So if I don't post regularly, it is because I am lost in the books or thinking about it. I'd post my thoughts and musings about these books after I read them.
Have a good week ahead!
September 7, 2009 at 11:02 AM
Hi Lemizeraq,
I've actually read a brief extract of "The Millionaire Next Door" online and it indeed mentions how normal everyday people (like you and me) can build amazing wealth just by being frugal and not over-extending themselves.
It's inspiring and heartening to know this, and I may decide to buy the book. My only grouse is that it is written from the American perspective. Too bad you don't get many good books on personal finance written from a Singaporean perspective, or maybe you would care to recommend any?
Thanks,
Musicwhiz
September 7, 2009 at 9:40 PM
Hi Music Whiz,
Yep, we don't get many books like these.
One good book on personal finance which you can borrow from Library that offers the Singapore perspective to CPF, real estate, insurance etc is "Personal Finance in Singapore" by Tan Chwee Huat.
You can see an excerpt of the book here : http://books.google.com.sg/books?id=mqjfZ5X2rgcC&printsec=frontcover&dq=personal+finance+book+singapore&source=gbs_similarbooks_s&cad=1#v=onepage&q=personal%20finance%20book%20singapore&f=false
Regards,
lemizeraq at gmail.com
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