Financial Literacy Knowledge in Singapore. (Part 1)

Hi peeps , ah boy is back with a bone to pick .... kidding la , i had my fill of bah kut teh liao (although hor on a side note, i'm still searching for a BKT that agrees totally with my palate....)

The purpose of this post is to express some of my own points , the stuff below , please take it with a pinch of salt ah , don't take it to heart ah , in case i offend any of y'all , apologies in advance.

See ,  quite a while back , very long ago actually ( the reason i chose to bring this out now is due to the similarity in the issue on hand) , be4 this article came out that Singapore's Fin-Lit(Financial Literacy) level has experienced the largest decline in APAC , the article can be found here .

I asked a fellow blogger , a more experienced and wiser one , Uncle Rich from InvestOpenly to do a small piece on his take of Singapore's Fin-Lit state. Read the piece below and ah boy shall continue with my story.

Ps. The piece written by Uncle Rich is uncensored and uncut ah , so don't say i add salt add vinegar ah!


The Financial Literacy State In Singapore Now – My two cents worth
Hi there, my name is Richard Ng, owner of Invest Openly (http://www.investopenly.com) blog, the reason why you see my post here is because I am honored to be invited by Ken (I call him Ah Boy, so you can roughly guess how old am I ;-)) to write a guest post here. Not only that, he has given me a very serious topic to consider i.e. The Financial Literacy state In Singapore.
Personally, I view that the financial literacy progress in Singapore is on the right track i.e. there are more and more retail investors (especially those younger one like Ken) are hunting for more financial knowledge/skills through related workshops, seminars or self-study (online and offline).


Some key observation that made me feel this way:
  1. The advertisements for personal finance related free and paid seminars/courses (especially those related investment vehicles like stocks, forex, real estate and commodities) are on the rise.
  2. Local bourse (SGX) is doing their part and trying hard to encourage more small retail investors join in  the equities bandwagon by fine-tuning the rules (the most recently one is reducing the lot size from 1,000 to 100 shares with effect from 19/01/2015) and arranging more educational programs for the public.
Having said that, financial literacy is more of the educational or knowledge part and it does not guarantee 100% success rate in whatever you are good in. Just like the formal education, even if you scores straight As for all the subject, it doesn’t guarantee that you will get a dream job that you are looking for.  
Of course, this is only my personal view. What’s your view about the financial literacy state in Singapore?

Cheers!




Ok , this is the end of part one , ah boy shall continue my nagging in part 2 , stay tuned for a bit.

Cheerio
Ah Boy

Pic from google. Article link from asiaone.

Location: Singapore

Comments

  1. Createwealth8888April 29, 2015 at 8:03 AM

    Great difference between knowledge and skills.

    Great difference between strategies and execution.

    Hindsight learning is also critical for us to re-calibrate ourselves to avoid repeating the same mistakes and sustaining past successes and build upon our past successes to improve.

    Some people tend to dismiss the importance of hindsight learning and say "Oh hindsight bias".


    We need to be good at all five

    :-)



    ReplyDelete
    Replies
    1. KenApril 29, 2015 at 1:22 PM

      Well , Uncle CW8888 , ah boy isn't good at all five :) but well , this journey is a forever learning process , ain't it?

      Cheers
      Ah Boy (Ken)

      Delete

Post a Comment

Popular posts from this blog

Boring , compounding , or is it?

Image
Good Evening! I got this crazy (honestly .... if i find it a bit "siao" it should be quite siao la) idea that i've delayed over a year or two. Recent events such as my mum falling ill and the recent passing of my 大舅 (Mum's eldest bro) have helped cement the notion of going through with the idea. THE IDEA in context? A family owned company which buys shares in listed companies with no or low debt and use the dividends to be reinvested together with additional capital contribution on a yearly basis. I've attached a table below for viewing.  Assuming a yield of 5% P.A. from dividends , excluding capital appreciation , aga aga results are as shown below. FYI , my extended family is big so can do it on such a scale if not each shareholder contribution has to be larger to obtain such results. Disclaimer(s): 1) Chart too small don't blame me , zoom in , zoom zoom. Paiseh la , i IT. noob (I provided two snips which should help in understanding the t
Read more

I'm Unemployed!!!! For a day that is.

Image
Yo ! Ah Boy is finally "UMEMPLOYED" !! Funny leh , unemployed and yet i'm so happy.... i know what you must be thinking... this ah boy siao liao ah? For me , being unemployed is one of the happiest thing that has happened to me , because i've finally graduated from my studies!! Damn , after endless nights of nightmares , i finally turn from full time student to .... unemployed. Well for my off day , i decided to KLKK ( Hokkien for walking around ). An acquaintance alerted me to a news article a while back in the papers , with a portfolio shown every week done up by CFA professionals as part of a moneysense  initiative  , a short 2 hour seminar will be held every 2 monthsor so ba. I also managed to meet up with my accountant , to settle tax issues (Remember to file your taxes soon ah! ) and also to do a bit of business reorganisation as part of my portfolio review. For the most part , the seminar focused on enforcing or rather instilling the discipline that
Read more

Hired.....Part 1 of being a employee?

Image
Yo ! Morning all I'm writing this short blog post as part of my insomnia routine. Kidding la , kidding. I just happen to be awake at this hour. So as most people know , usually as students , we get to undergo internships . I did my stint with a local sme . After ending the internship , the fine peeps over @ Xpresstuition made me an offer i couldn't refuse , as most of y'all might know , ah boy is pretty happy being a business owner and i kinda enjoy my current life lol.... so if you were to get me to be an employee that goes into office from 9 to 6 ..... i think i would go NUTS lol. Yeah , so when they offered me to head up their new business development department , i was pretty happy la (OK LA , I WAS PRETTY EXCITED lol , from intern getting promoted!! ) Ya la , long story cut short. The low down was that i'm exempted from going to office daily , and that i get to interview and form my own team. Good news was that management agreed. Problem was that i had no i
Read more