Accelerate your personal finance knowledge with this regular feature on Ringgit Oh Ringgit – the Link Roundup! I promise you’ll find these 10 links informational 🙂
1. The Simple Math of How to Retire with Millions – Foundation for Economic Education
In my article How to Get RM10000 per Month in Passive Income (In 3 Steps), I oversimplified the calculations, to make them easier to understand.
However, if you are so inclined, you can calculate how much exactly you need to save for retirement (early or otherwise), factoring in inflation.
For example, someone who wants to have a nest egg of $6.257 million by the time they are 70 can lock away $65,600 at age 22 and never have to add another dollar – just let compounding do its thing.
This is something a financial planner can help to calculate for you. They can also calculate shortfalls in a client’s savings (common) and suggest the options they have, going forward.
I’m glad I came across this article. It cemented what I already practice – avoid non-doer complainers. Learning how to nod politely and remove myself from circles of friends and acquaintances who love to complain (and do nothing about it) is one of the 5 important things I learned in my 20s.
The researchers found that people who complained were in a worse mood, felt less satisfaction and pride in the work they were doing, and were significantly more likely to feel less happy and experience poorer self-esteem the next day as well.
To be clear, venting and sharing frustrations is fine. But it has to go beyond ‘my boss sucks’. If you don’t like it, do something about it.
So instead of wasting energy by complaining, blow off that steam by talking about how you’ll make things better. What you’ll do next time. What you won’t do next time. Into ensuring you won’t need to refrain from complaining next time because you’ll find ways to ensure you won’t be in the same situation again.
3. I Marie Kondo’d My House and It Helped Me Stop Mindless Spending – Apartment Theraphy
LOVE this article! Mindless spending is fun in small doses but also dangerous when you do it often. So why not curb it by… decluttering? Especially if you’re mindlessly spending on organisational tools and items.
This reminds me of a pretty mind-blowing ‘organisation hack’ I came across years back which I still use now. It’s something along the lines of, ‘declutter BEFORE you buy new containers’.
4. 3 Reasons You Shouldn’t Invest Like Warren Buffett – The Motley Fool
Yeah you probably want to be like Warren Buffet, who is famous for his value investing style of stock picking.
But you’re not Warren Buffet. And you don’t have to invest like him. Because:
- You don’t have his stock-picking knowledge
- You can’t afford the same level of risk
- You probably have different goals
Just get low-cost mutual fund, unit trust and ETFs with exposure in multiple markets. Enough already.
Click the tweet below to expand the thread with more info. I also included a platform you can use IF YOU HAVE TO do stock picking.
To-Do Lists is a hardly new concept, but I like how practical and actionable this article is. There are tips in there that I can definitely use to improve my own system.
My own personal tip is to add on things that pop up throughout the day (happens every day so I embrace it), then check it off. I get satisfaction from seeing a lot of things crossed off on my to-do list 😀
Related article if you like this topic: 3 Productivity Tips Women (and Men) MUST Know
6. Duit Right: How to Fix Malaysian Political Financing – New Naratif
Read the 6-page comic to learn about Malaysian Political Financing, key issues, call to action and more.
Where to find remote jobs? Which one is the highest paid? What’s the fastest growing industry for remote jobs?
Find the data on this webpage. The data is current and updated monthly.
What a fun list to go through! I didn’t know there are many goal tracking apps out there, including this one called LifeRPG. Wow so fun to visualise your life as stats like that.
9. 15 Tips to Secure Your Cryptocurrencies! – CoinGecko Learn
Hey look it’s a CoinGecko and Girl Gone Crypto collaboration!
Crypto investors, skip this video at your own peril. Never at any point, no matter how pro you think you are, think you are above digital security advice.
10. A tip for buying over-the-counter medicine
Rather than Zentel (brand name), look for albendazole (active ingredient). Rather than Panadol (brand name), look for paracetamol (active ingredient).
To read past link roundups, please click here.