Frank Comments by Dennis Ng on various Topics

Post by **Dennis Ng** » Fri Dec 05, 2008 2:42 pm

most people either focus on the potential rewards or the potential risks, doing either is actually looking at just one side of the coin.

On the other hand, an experienced investor would Assess both potential rewards and potential risks, and would only invest if the Risk/Reward tradeoff is in his/her favour.

"Safe" savings in the bank over a long period of time is NOT safe becos the interest earned on Bank Deposits is insufficient to cover inflation. If one leaves his/her money in Bank over a long period of time say, over 10 years, he/she is almost guaranteed to become Poorer, Not Richer.

Investments are like the strikers in a soccer team. To win a soccer match, you need to score goals. To win the financial game, you need to make money work for you.

Post by **Dennis Ng** » Mon Dec 22, 2008 6:12 pm

another half-truth espoused by Bankers and Financial Planners:

Time in the market is more important than Timing the market.

On the other hand, Mr Oei Hong Leong's words to me when I spoke to him after a seminar were: "Dennis, investing is all about timing."

Post by **Dennis Ng** » Thu Jan 01, 2009 9:32 am

Here's wishing all forumers a Joyous and Fulfilling New Year!

just a note that investing is just one aspect of our lives.

There are other Important Aspects such as:
1. Family
2. Relationship
3. Health
4. Career
5. Spiritual
6. Self Development
7. Community Involvement and Contribution

do not neglect the development of other aspect of your life.

One should try to strike a balance in our lives.

Post by **Dennis Ng** » Thu Jan 01, 2009 8:27 pm

A person uses the "nick" No Money to post in an internet forum and asked to learn from others.

Below is my reply to this person:

my first advice is change your nick. Please do not use "no money" as your nick.

Why? Becos whatever you think about and focus on expands. If you think no money, it is unlikely that more money would be attracted to you.

Your thinking would filter down to your subconscious mind. And your subconscious would "take action" based on what it is told. Thus, if you keep saying "no money", thinking "no money", that's exactly the result you would get.

Think positive. Think I will be a Millionaire. I am a Millionaire in the making.

Every night before I go to sleep I would say these positive affirmation:"I am Happy! I am Healthy! I am wealthy!

I say it in a very happy mood and go to sleep happily.

You might find it amusing. But it really works. I know, becos I've started doing this after I learned it from a multi-millionaire that this is what she does.

Some people don't believe in all these things about "positive". Well, my challenge to everyone out there is this:"please find me rich and wealthy people who are NEGATIVE. If you can find them, it shows that being negative can also leads to success. Which I think is NOT POSSIBLE at all.

Post by **Dennis Ng** » Fri Jan 02, 2009 9:01 am

Sharing another meaningful message from Napoleon Hill Foundation:

Wally Amos, the man whom many consider to be the father of the gourmet cookie industry, has turned lemons into lemonade so often in his life that in his official portrait he holds a pitcher in one hand and a glass of lemonade in the other.

A perennial optimist, Amos refuses to acknowledge that obstacles are anything other than stepping-stones to success.

In a career that has spanned several decades, he has made it to the pinnacle of success several times, only to lose everything and be forced to start over. But he’s never lost faith.

"You have to have the trust and faith to let go and not agonize," he says. "Don’t waste your time worrying.

Worry is not preparation. Analyze the situation and focus on solutions. There is always an answer."

yhendra · Post by **yhendra** » Thu Mar 31, 2011 10:24 am

Hi Dennis,

It happened I browse your posting thread here.
These are really good. They show your thinking process and your frankness on the various topics.

I highly recommend other forumers to go through Dennis postings here... starting from 19 Apr 2008
http://www.masteryourfinance.com/forum/ ... .php?t=916

ngtfook · Post by **ngtfook** » Thu Mar 31, 2011 12:29 pm

Agreed. I read thru almost all posts way back to 2006. I have gain learnt a lot financial knowledge from the postings. It is like Finance for non Financial Manager. Simple, easy to read and understand, practical and real life examples.

Post by **Dennis Ng** » Mon Apr 04, 2011 11:17 pm

On 20 Jul 2008 when Gold price was about US$900 and Silver at about US$17, I made the following posting:

Dennis Ng wrote:As economic situation worsens, and more and more countries' currencies weaken, people will be looking at buying Gold and Silver, which is a more dependable "form of currency".

金钱; 金银; 银纸 (cantonese).

That is why I see that Gold prices are expected to rise higher than US$1,000 and Silver to over US$20, in a matter of time.

If you had listened to me and bought some Gold and Silver then, how much would you have made?

4 Apr 2011:
Gold price at US$1,428 or up 58.67%
Silver price at US$37.81 or up 122.4%.

Not sure in Jul 2008 what did your Financial Planner advised you to do? Not sure if you have made over 100% on your investments in last 2.5 years?

suz.forum · Post by **suz.forum** » Thu May 26, 2011 9:13 pm

Hi Dennis - so is it too late to buy silver now?

Post by **Dennis Ng** » Thu May 26, 2011 9:45 pm

suz.forum wrote:Hi Dennis - so is it too late to buy silver now?

the correct discussion thread to read about our discussion on silver is here:

http://www.masteryourfinance.com/forum/ ... &start=330

My views on silver is clearly stated there.

Cheers!

Dennis Ng

suz.forum · Post by **suz.forum** » Thu May 26, 2011 10:00 pm

Many thanks for redirecting, Dennis!

Post by **Dennis Ng** » Sun Jun 12, 2011 10:35 am

Most people live like the Rich when they are NOT Rich.

For instance, most people own Cars and have live-in Maids. (I don't own a car, (Have never owned one) and only have a part-time maid).

They don't realise that becos they live like the Rich and have little or no savings, that they have more or less ruined their chances of ever becoming rich.

The reason I reached Millionaire status is becos I spend within my means all these 18 years; that I have been saving at least 20% of my income and then growing the savings by investing...

Last year I received more than S$30,000 in dividends from stocks alone, which is what I earned in year 2001 (total income I earned was S$30,000 then).

Now that I'm Rich, I can live like the Rich since I can afford it. I think it's ok to live like the Rich if you're Rich.

I'm thinking of buying a car not becos I really need a car, or not becos it makes financial sense to own one, but becos it's just a "pat on my own back", treat it as a Reward for myself for working hard and working smart, for saving hard and saving smart, for investing smart and growing my money...so don't be surprised if you see me buying a Car (despite the high COE prices).

And my car is actually "Free" since it's more than paid off by my investments (eg. stock dividends of more than S$2,500 a month); not being paid by my own Active Income.

Below is the posting where I shared about "How to be at least S$500,000 Richer by Choosing BMW "T" Series?"

http://www.masteryourfinance.com/forum/ ... .php?t=327

ngtfook · Post by **ngtfook** » Sun Jun 12, 2011 8:21 pm

Most people live like the Rich when they are NOT Rich

Now that I'm Rich, I can live like the Rich since I can afford it. I think it's ok to live like the Rich if you're Rich

Agree with both of of your statements. If I could forgo onwing a car for last 20 years, I would have been much richer by deploying the saving into investment to build my networth.

mort · Post by **mort** » Mon Jun 13, 2011 8:29 am

In addition, we should also increase our investment assets much more than our personal use assets even when we are richer.

Also don't forget the needy among us too.

Thanks Dennis for guiding us along.

Post by **Dennis Ng** » Mon Jun 13, 2011 8:57 am

mort wrote:In addition, we should also increase our investment assets much more than our personal use assets even when we are richer.

Also don't forget the needy among us too.

Thanks Dennis for guiding us along.

Hi mort,
yes, by age 40, our Investment Assets (Cash plus all investments) should be at least 50% of our Net Worth. In other words, our Personal Use Asset should be less than 50% of our Net Worth.

Personally, my Personal Use Asset is only about 16% of my Net Worth, or in other words, Investment Assets constitutes 84% of my Net Worth.

And yes, as we get Richer, we should also do more for the poor and unfortunate, we can help by donations or volunteer work.

11 years ago total income I earned in 1 year was S$30,000 (or S$2,500 a month), no matter how charitable I am, there is a limit to how much I can donate. Last 2 years, I donated S$30,000 each year, which was 100% of my income 11 years ago...this illustrates WHY we should aim to be Richer, both for ourselves and for the poor and the less fortunate in the society.