Good points raised here but I think in life we cant be too thrifty on ourselves or others to the point that we lose meaning in life; if its within our means and if its in moderation, we should at times treat ourselves to increase the quality of life or spend on things that make you happy but of cos within limits.. essentially finding the right balance. No matter how rich one is, we cant bring our wealth with us to after life aside from leaving to our descendants.
If you not retiring anytime soon, don't have to rush off to pay mortgage. Because that money will grow much faster if you invest in stocks, rather than paying off a 1-3% mortgage
Hi Kelvin! Could you talk about getting student loans from local banks for youths who are going to enter uni (autonomous/private)? Would like to know more about which banks are good to get the loan from (what are the benefits & conditions to be wary of) and how to manage your loan (e.g. use a portion to invest in short-term bonds, etc.). I think it would be a good topic to cover as not much people talk about it!
Rich Dad Poor Dad actually has a lot of terrible advice that encourages people to use leverage or get involved in risky investments like options. It is not really something that is suitable to most layman investors. One must always remember, Robert Kiyosaki himself actually went bankrupt multiple times. So this book is really a dangerous book that can bring financial ruin if you don't filter out the message carefully.
One of the lessons I learnt from the book is that as an employee, you pay tax on the gross salary you received. Then you pay for your expenses. But by setting up a company, you pay tax on the net profit, after deducting your expenses. So you benefit from the tax impact on the expenses.
Hi Kelvin, long term viewer of this channel here. I must sadly say that this video was really one of the worse content you have put out so far (previous video was much more informative and spot on), as you were building on “rich dad poor dad”, an outdated and overly vague advice book. I would advise, to use better material next time to build on, to give critical, detailed, and relevant information to the viewers. Here are some of the problematic points you have brought up: 1. The book “Rich dad poor dad” over glorifies being a Business owner and investor, claiming that money is working passive for them, and they don’t have to do a thing. However, we know that there is much hard work to be done for either sector, it shouldn’t be simplified as such. Furthermore, most people are well suited to be employed for the whole of their life and are very successful doing so. The key point I guess you should be driving is to hold multiple hats (employed and investor at the same time for lowest barrier to entry). And it is important that what you earn as an employee really matters, if not you will not have the capital to invest (as discussed in your previous video). 2. You mentioned “it is not how much you earn, but how much you saved”, and went on to use an extreme case like Mike Tyson which I do not feel it is very productive in this topic. I do believe it is important to not have lifestyle creep as your income grow, so you can save more. However, it is still important to note that if you are earning eg $2.5k monthly, how much can you practically save after all your necessary expenses. Instead, one needs to find ways to increase their income, so they can pay themselves more, else the sum will still not be sizeable over time. 3. Though Rich dad and poor dad gives a good fundamental understanding of Liabilities and Assets, it is too black and white/binary, while it is more important to note that Assets can easily turn into Liabilities or learning to turn your liabilities into assets. Eg. If you are heavily leveraged in income generating Assets such as Property (either industrial or residential), the moment you lose the ability to rent out, you are essentially owning a Liability, and if you are unable to pay off your monthly mortgage, you will be in a very tough situation. Hence, it is important to note that, it is not just about stacking as much “Assets” you can and generating income from them, as it might not be that simple. Just like stocks and other forms of equities can go down for months if you are in a multi-year long bear cycle, and DCA isn’t working, can you afford to keep buying this “assets” when you are only going to sell them at a lost if you need liquidity?
So ignorant. Just because you lose money in stocks does not mean all stocks are liabilities. By your logic, food is a liability because they cost money and could give you food poisoning. 🤡
I agree Rich Dad Poor Dad is a little bit oudated, but many of your points is simply just a common sense, and its a little unreasonable to expext Kevin to explain every single detail. In the grand scheme of things, I think Kevin did a good job summarizing the important point.
@@mylittlebrother3318 you still got your mortgage payment, general maintenance and property taxes. So it takes money out of your pocket every month making it a liability. Hope this helps :)
If an item u bought over a period of time and it doesn't go up in value then it is a liability. If buying a property is a liability then nobody will treat property as part of the investment vehicle.
Hi Kelvin, do you have any social media handles or email that we can contact you? I saw that you posted there are fake social media accounts so what are your handles?
Good points raised here but I think in life we cant be too thrifty on ourselves or others to the point that we lose meaning in life; if its within our means and if its in moderation, we should at times treat ourselves to increase the quality of life or spend on things that make you happy but of cos within limits.. essentially finding the right balance. No matter how rich one is, we cant bring our wealth with us to after life aside from leaving to our descendants.
Hi Kelvin, could you make a video on your process to research stocks for beginners?
kelvin, i must say u improve a lot on the content. keep up the good job!
Can share video for Zilliqa coin ?
Great content! I found this channel randomly; glad I stopped by!
Keen to know your views on paying off mortgage vs investing in an index
If you not retiring anytime soon, don't have to rush off to pay mortgage. Because that money will grow much faster if you invest in stocks, rather than paying off a 1-3% mortgage
@@KelvinLearnsInvesting thank you for the quick response and amazing value in your content
Hi Kelvin! Could you talk about getting student loans from local banks for youths who are going to enter uni (autonomous/private)? Would like to know more about which banks are good to get the loan from (what are the benefits & conditions to be wary of) and how to manage your loan (e.g. use a portion to invest in short-term bonds, etc.). I think it would be a good topic to cover as not much people talk about it!
Hi Kelvin, in your opinion is it too late to start buying Tesla?
Did Kelvin just say "DoggyCoin" at 2.32?? Hilarious! 😄😄
I love this summary of rich dad poor dad(Singapore edition)! 👍
Please recommend more books! 🙂 Recently, I have finished 3 books from Robert Kiyosaki. Currently, reading books related to home business.
one of the best vids on youtube esp the last part. thanks so much. greetings from a fellow sinkie 😊
hi kelvin could u do a video on forex
Thanks for the sharing kevin. ❤️
Love you video keep up the awsome work
ur video editting skill, so nice hahah
I am a SCV from StarCraft ( just quietly work non stop if the gas delepted I still stay there waiting for next order )
Build additional pylons!!
Pppppppp
I think
Rich Dad Poor Dad actually has a lot of terrible advice that encourages people to use leverage or get involved in risky investments like options. It is not really something that is suitable to most layman investors.
One must always remember, Robert Kiyosaki himself actually went bankrupt multiple times. So this book is really a dangerous book that can bring financial ruin if you don't filter out the message carefully.
How come I feel like I have watched this video before
Using kidney to pay!, That CJ Bai Tesla he say is buy for his mom to drive.....
One of the lessons I learnt from the book is that as an employee, you pay tax on the gross salary you received. Then you pay for your expenses. But by setting up a company, you pay tax on the net profit, after deducting your expenses. So you benefit from the tax impact on the expenses.
Money money money money!
Kelvin, your iphone picture outdated liao now iphone 13 is out la haha.. anyway great content! Keep up the good stuff
Damn funny! Love your consistency. You’re an inspiration to many!
i thought those dads were actually illustration of the story..lol
Read the book recently. Rich dad was Robert's childhood friend's dad.
@@yihling but ironically, his dad is rich..
@@ron2040 from the book, his biological dad is not rich. In his later years, he lost his job and failed his business.
Nice video
yes. singaporeans love to blame the government
then u be someone's rich dad. hmm... sugardad? ;)
@@kelivnlearnsinvesting5475 ahhahahhaha hor hor I will msg ur wife right away
Funny 😀
This thing who also know but talk only
I eat cai png everyday
Hi Kelvin, long term viewer of this channel here. I must sadly say that this video was really one of the worse content you have put out so far (previous video was much more informative and spot on), as you were building on “rich dad poor dad”, an outdated and overly vague advice book. I would advise, to use better material next time to build on, to give critical, detailed, and relevant information to the viewers.
Here are some of the problematic points you have brought up:
1. The book “Rich dad poor dad” over glorifies being a Business owner and investor, claiming that money is working passive for them, and they don’t have to do a thing. However, we know that there is much hard work to be done for either sector, it shouldn’t be simplified as such. Furthermore, most people are well suited to be employed for the whole of their life and are very successful doing so. The key point I guess you should be driving is to hold multiple hats (employed and investor at the same time for lowest barrier to entry). And it is important that what you earn as an employee really matters, if not you will not have the capital to invest (as discussed in your previous video).
2. You mentioned “it is not how much you earn, but how much you saved”, and went on to use an extreme case like Mike Tyson which I do not feel it is very productive in this topic. I do believe it is important to not have lifestyle creep as your income grow, so you can save more. However, it is still important to note that if you are earning eg $2.5k monthly, how much can you practically save after all your necessary expenses. Instead, one needs to find ways to increase their income, so they can pay themselves more, else the sum will still not be sizeable over time.
3. Though Rich dad and poor dad gives a good fundamental understanding of Liabilities and Assets, it is too black and white/binary, while it is more important to note that Assets can easily turn into Liabilities or learning to turn your liabilities into assets. Eg. If you are heavily leveraged in income generating Assets such as Property (either industrial or residential), the moment you lose the ability to rent out, you are essentially owning a Liability, and if you are unable to pay off your monthly mortgage, you will be in a very tough situation. Hence, it is important to note that, it is not just about stacking as much “Assets” you can and generating income from them, as it might not be that simple. Just like stocks and other forms of equities can go down for months if you are in a multi-year long bear cycle, and DCA isn’t working, can you afford to keep buying this “assets” when you are only going to sell them at a lost if you need liquidity?
Agreed. Rich Dad Poor Dad is the worst book I have read. Repeating the same points in every chapter. Don't waste your time reading..
So ignorant. Just because you lose money in stocks does not mean all stocks are liabilities. By your logic, food is a liability because they cost money and could give you food poisoning. 🤡
I agree Rich Dad Poor Dad is a little bit oudated, but many of your points is simply just a common sense, and its a little unreasonable to expext Kevin to explain every single detail. In the grand scheme of things, I think Kevin did a good job summarizing the important point.
Properties Shld be liabilities.
If it does not generate income then yes.
If it appreciate in value over a period of time why it is a liability?
@@mylittlebrother3318 Thats more for second property?
@@mylittlebrother3318 you still got your mortgage payment, general maintenance and property taxes. So it takes money out of your pocket every month making it a liability. Hope this helps :)
If an item u bought over a period of time and it doesn't go up in value then it is a liability. If buying a property is a liability then nobody will treat property as part of the investment vehicle.
U unfriend them better arrr.....he...he so funny you.🙄
Hi Kelvin, do you have any social media handles or email that we can contact you? I saw that you posted there are fake social media accounts so what are your handles?