[Post 209] How Much Should You Give Your Parent Every Month?

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As a new graduate(Like me!), it can be overwhelming to balance your own financial needs with supporting your family. One question that may come to mind is what percentage of your salary should be given to your parents.

This is a difficult question to answer since it is difficult to strike the correct balance between taking care of your personal financial requirements and helping your family. 

Before determining this amount, it's crucial to make sure you have enough money for your own necessities such as housing, food, and transportation. You don't want to compromise your own financial stability by giving too much to your parents.

Once your own finances are secure, you can consider how much you can afford to give to your parents. While there is no definite answer, some experts suggest giving anywhere from 10-20% of your pay. This amount can vary based on your financial situation and the needs of your parents. 

If they are facing financial difficulties, you may want to give more, and if they are in a stable financial position, you may be able to give less.

Having an open and honest conversation with your parents is important in determining the right amount to give. It's also recommended to set clear expectations about the use of the money to make sure everyone is on the same page.

Personally ,I am currently giving about 10-20% of my pay after CPF deduction to both parents,which is quite close to my monthly budget.As for my pay range, let's just say it's around $3,000 to $4,000 a month 😉

In conclusion, the answer to how much of your pay should be given to your parents is not set in stone. By taking care of your own finances and communicating with your parents, you can find the right balance that works for everyone. The most important thing is to prioritize your own financial stability while still supporting your family.

[Post 208] Why OpenAI’s ChatGPT Is Such A Big Deal | CNBC

Summary

OpenAI, which Elon Musk helped to co-found back in 2015, is the San Francisco-based startup that created ChatGPT. The company opened ChatGPT up for public testing in November 2022. In under a week, the artificial intelligence model amassed over a million users, according to OpenAI’s CEO, Sam Altman. By the end of January, ChatGPT was averaging about 13 million visitors per day. Users have had ChatGPT write everything from essays, to lyrics and even correct computer code. ChatGPT is part of a growing field of AI known as generative AI, which allows users to create brand new content including videos, music and text. But generative AI still faces a number of challenges, such as developing content that is inaccurate, biased or inappropriate. Now enterprises and the public are wondering what wide access to AI will mean for businesses and society.

[Post 207] Book Review 1: Around The world in 80 Trades by Conor Woodman

 

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"Around the World in 80 Trades" by Conor Woodman is a true gem of a book that will take you on a journey like no other. 

This memoir is not just about trading goods, but it is a story of adventure, perseverance, and a man's quest for self-discovery.

Conor Woodman, a seasoned traveler and a successful trader, sets out on a mission to circumnavigate the globe in 80 days, trading his way through some of the most remote and exotic locations in the world. 

From the bustling streets of Marrakech to the tranquil hills of Cambodia, he braves the unknown and challenges himself to barter his way through these diverse cultures.

What sets this book apart is Woodman's writing style. He brings to life the colorful characters he meets on his travels and the captivating stories they share. 

He weaves these tales with humor, honesty, and a deep respect for the cultures he encounters. The reader is transported to these far-off lands, experiencing the sights, sounds, and flavors of each destination through Woodman's vivid descriptions.

As he progresses on his journey, Woodman faces numerous obstacles and hardships. Yet, he never loses sight of his goal, and his determination is both inspiring and heartwarming. 

Throughout the book, he reflects on the lessons he has learned from his travels, sharing insights on life, love, and the importance of following one's dreams.

In conclusion, "Around the World in 80 Trades" is an unforgettable adventure that will captivate your imagination and leave you with a newfound appreciation for the world and its people. 

It is a must-read for anyone who loves travel, adventure, and inspiring stories. Whether you're an armchair traveler or an avid globetrotter, this book is sure to leave a lasting impression on you.

For those who are interested in reading this book,do head to your nearest library!

[Post 206] Investment Book Summary 2: "The Intelligent Investor" by Benjamin Graham

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The Intelligent Investor, written by Benjamin Graham, is a classic investment book that provides readers with the necessary knowledge to make informed decisions when it comes to their finances. 

Published in 1949, the book has stood the test of time and remains a relevant source of information for investors of all levels. 

In this blog post, we will summarize the key takeaways from The Intelligent Investor and explain why this book is a must-read for anyone looking to invest in the stock market.

Concept of Value Investing

The first key takeaway from The Intelligent Investor is the concept of value investing. Graham introduces the idea that investors should focus on buying stocks that are undervalued in the market, rather than trying to predict the direction of the market. 

He argues that by investing in stocks that are undervalued, investors can potentially generate returns that are higher than the overall market.

Margin Of Safety

Another important concept introduced in The Intelligent Investor is the idea of margin of safety. Graham explains that investors should always aim to purchase stocks at a discount, to protect themselves against potential losses in case the stock price drops. He suggests that investors should aim to purchase stocks that are trading at a discount of at least 50% to their intrinsic value.

Diversification

In addition to value investing and margin of safety, Graham also discusses the importance of diversification in an investment portfolio. He argues that investors should not put all their eggs in one basket and should instead aim to spread their investments across a range of different stocks, bonds, and other assets. This will help to minimize the risk of losing all of your investment in the case of a market downturn.

Buy Common Stocks

One of the most important chapters in The Intelligent Investor is the discussion of common stocks versus preferred stocks. Graham explains the differences between these two types of stocks, and why common stocks are a more attractive investment for the average investor. He argues that common stocks have the potential for higher returns, and can provide investors with ownership in the company, which is not possible with preferred stocks.

In conclusion, The Intelligent Investor by Benjamin Graham is a timeless classic that provides investors with the knowledge they need to make informed decisions in the stock market. From the concepts of value investing and margin of safety, to the importance of diversification and the differences between common and preferred stocks, this book is a must-read for anyone looking to invest in the stock market. Whether you are a beginner or a seasoned investor, The Intelligent Investor will provide you with the tools and knowledge you need to achieve success in the stock market.

Thanks for reading! Remember to DYODD!

[Post 205] MPs debate affordability of HDB flats | In Parliament

Summary

The home price-to-income ratio (HPI) of BTO flats in non-mature estates was a hot topic on the second day of the debate on public housing affordability. HPI measures the number of years of total household income required to afford a home.

[Post 204] Investment Book Review 2: "The Intelligent Investor" by Benjamin Graham

"The Intelligent Investor" by Benjamin Graham

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 "The Intelligent Investor" by Benjamin Graham is widely considered to be one of the best investment books of all time. First published in 1949, it has been reprinted numerous times and remains a classic text for investors of all levels of experience. 

In this post, we will provide a summary of the key concepts outlined in the book, analyze the relevance of the book to today's investors and discuss why it is a must-read for anyone serious about investing.

At its core, "The Intelligent Investor" is a guide to the principles of value investing. Graham explains that the goal of the intelligent investor is to purchase securities at a price that is below their intrinsic value. 

He also emphasizes the importance of diversification and risk management, arguing that investors should only invest in what they understand and should avoid speculative investments.

One of the key concepts outlined in the book is the idea of "Mr. Market." Graham uses this concept to illustrate the emotional and irrational behavior of the market, and how it can create opportunities for the intelligent investor. 

He argues that investors should take advantage of Mr. Market's emotional swings by buying when prices are low and selling when they are high.

The book also differentiates between two types of investors: the defensive investor and the enterprising investor. The defensive investor is someone who is content with a low level of return and is focused on preserving capital. 

On the other hand, the enterprising investor is someone who is willing to take on more risk in pursuit of higher returns. Graham provides strategies for both types of investors and explains the strengths and limitations of each approach.

So, how does the book relate to today's investors? The principles of value investing outlined in "The Intelligent Investor" are as relevant today as they were when the book was first published. 

The market may have changed, but the human behavior that drives it has not. Investors can still benefit from reading the book and applying its concepts to today's markets.

In conclusion, "The Intelligent Investor" by Benjamin Graham is a must-read for anyone serious about investing. It provides a comprehensive overview of the principles of value investing, emphasizes the importance of diversification and risk management, and differentiates between the two types of investors. 

The concepts outlined in the book are as relevant today as they were when the book was first published, making it an enduring guide for investors of all levels of experience.Personally, i thought that the book was a little much for a beginner, and that it may be difficult to finish it in one sitting.I do recommend it for everyone to give it a look through at least once though.

[Post 203] Student who turned $100,000 into a $6.7m education business | The Straits Times

Summary

In 2019, Evan Heng plonked his entire savings of $100,000 - earned mostly through giving tuition - and grew it into a $6.7 million education business.