Personal Finance (11): Financial Self-Defense - A Critical Personal Skill to Live in This Modern World Economy

Let's go through some financial facts:

* On Governments' Investment:
 
Few weeks ago, I was wondering what is going on with the "World Islands" that build by Dubai as there is no news about it...  And found that these islands are sinking back to the sea!
 
Then, I wanted to figure out what was the development cost...  And found from the Wikipedia that: "The World's overall development costs were estimated at US$14billion in 2005".
 
Oh!  That's lot of money gone into the sea.
 
Then, I figure out that Government of Singapore Investment Corp. had lost USD41.6billion, or Three "World Islands", in US Market alone, during the 2008 financial crisis according to WSJ: http://online.wsj.com/article/SB125418236117447877.html


* On Personal Insurance and Investment Scheme:

Now let's look in to the price chart one of the global insurance company: AIG
(Yahoo Chart)
I AM curious how AIG is going to pay back all their clients long term life insurance and investment scheme, in long run, as the baby boomers are starting to collect their matured contracts now...


        
Others Ponzi Schemes: Such as Geneva Gold, The Gold Guarantee (TGG), etc...
 
Hundred of Investors at Hong Lim Park on The Gold Guarantee Scam (06 Mar 2013)


* On Taxes

Government can change rule for all kind of tax:  Example:  
(Here is the link )

 








*
*On Inflation:

The value of money(cash) is contine to be depreciated over time due to inflation.
 
 Source: - http://www.tradingeconomics.com/singapore/inflation-cpi
A very good source to check on many financial data from Money Supply, GDP, Debt, etc of various country worldwide.




Here is an Extreme case of Inflation...
This is what you can get for 100 billion zimbabwe dollars.




As many countries are increase their money supply today, and some call it as the age of "Currency War".  If thre is a war, there will be losers, and lot of time, there is no meaningful winner in the war as all public suffer.
 

 
*On Currency War:


A short interview with James Rickards - The author of the Book:
Currency Wars - The Making of the Next Global Crisis

 
 
 
 
 
*The Point of Finanical Self Defense is: DIY
The era of working hard in one job, save enough income to entrust a good fund manager to grow the money for retirement was over since the year 2000 tech bubble.  And, if someone has not started to educate him/herself to learn about managing his own investment account, please think again. 
 
Of course, Rome was not built in one day.  The road to learn/practise about investment involve risk of money and time committment. 
 
As Mark Twain said "Focus on the future, because that's where you going to spend the rest of your life."  So, if it is something very important and must be learned, start to read relevant books, start to attend seminars, including start to loose certain amount of money and gain experience...  While one still have the luxurious of time and money to do so.    See... A plane that take off from the same run way, just need to turn its direction a few degrees will alter its course by hundreds of miles...
 
 






 
"But trading and investing is like any other pursuit
—the longer you stay at it the more technique
you acquire, and anybody who thinks he
knows of a shortcut that will not
involve “sweat of the brow”
is sadly mistaken."
- Richard D. Wyckoff
 



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Thanks a lot for sharing this post, you offer a lot of useful and insightful information for readers. In this economy, managing finances is hard for many and some are very strict on spending. Fortunately, there are options for those who need money fast, such as getting cash for annuities

KH Tang said...

Well, I have no intention to delete others comments. And, just to point out that "getting cash for annuities" is like a Chinese Proverb 饮鸩止渴 - "drinking poison to quench thirst".

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