Saturday, September 22, 2012

Money Money Money (Financial management, Buddhist Point of View and Investments)

Oh right now, this will be based on a visit to Singapore Buddhist Mission Youth Saturday's sharing, featuring Ven. Bodhi and seniors' (some of which are working already) experiences.

So on last Saturday, 15th September, just before the talk on Altruism by Mathieu Ricard and his teacher, I went to the sharing. Ven. Bodhi gave each of us a piece of handout, based on Chapter 10 of the Shrewd Breadwinner, a life that's well founded by Ven. P.A. Payutto.
Look for Chapter 10, it's all in there.

There are 3 levels, first of seeking and safeguarding wealth, second of allocating wealth, third of using wealth.
Ven. Bodhi discussion is that the 4 portions in the allocating wealth part, is not 4 equal portion and that the 2 portion for investment is one for soft (spiritual, skills, edication, help, goodwill etc..) investment and the other hard (material investments) investments. This is logical as it is not really possible to earn a living based on 1/4 of your income used on yourself in Singapore.

Then the investment part must come as even if you put your money in the bank, inflation will cause the value of the money to drop, if the interest from the bank is lower than inflation. So putting it in insurance, etc... would help.

Ze Ming shared that insurance, bonds, stocks, properties, etc are just instruments not investments, the difference between investments, gambling and speculations is in the psychology, blindly putting your money in something is gambling, having a gut feeling etc.. is speculation, research a lot and see long enough, you're an investing.

That's all for now. Thanks!

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