What To Do With Your Money Now

Before I begin, allow me to apologize upfront if what you are about to read is either arrogant, untimely or retardedly opportunistic but I am prompted by the massive write up in today’s Sunday Times about the current financial situation that is affecting everybody.

Firstly, screw the bankers who are complaining that they are not going to see their 20 month bonus this year. After scalping poor unsuspecting and ignorant consumers into buying their toxic products and losing them tons of their hard earned cash, collecting their massive commissions and making tons in the process, I can’t believe that they would bitch about slowing down on their purchases of Prada and Gucci and compromising their lifestyles when so many others have been much more drastically hurt by their hard selling.

To them I say, be happy with what you have for what you have is a result of what others have lost.

So what do you do with your money now? Where will you put it so that you can rest easy that your money is “safe”?

If you thought that depository banks are safe, (Ms Sumiko Tan, this is for you) then consider this … Century old depositories in the U.S. and U.K.  are either in dire straights, closing down or are being acquired for pennies. Even Japanese Banks are hurting badly and the EU banks are refusing to cooperate with each other. Do you think your money is safe in a bank? Did you know that there is a “get out” clause in our local banking TOC that states that when a local bank goes down, you are only entitled to a maximum of $20K in refunds regardless of every open account you have with that bank, regardless of how much you had in each account? That means that if you had two accounts with $80K in each of them, you are only going to get $20K should the bank fold, not $160K.

Now you must wonder why such a TOC is necessary if the bank is “safe”.

What the world is going through now is called a Financial Crisis or a Credit Crunch or a Liquidity Issue … what this all means is that the crux of the current economic woes are financially based and if that base falters, your money is safer under your pillow.

Before going further, know that I have a responsibility as a Singaporean blogger to not incite anything that doesn’t support our nation’s efforts or to further hurt this worsening situation. Therefore, I have a proposition to those who still want to plant their money safely without worrying too much (note that I did not say, “absolutely no worries”) that they may lose everything and only get $20K for their life savings.

The market (and I’m not just referring to the stock market) is still an investible domain if you know what to look for and what to do. I won’t guarantee that you will make money from these investments but your money will be safer because you will be managing it yourself.  I can’t see how that can be a bad thing when you consider that the money you deposit into a bank goes through the same process except someone else is managing your money instead of you. So ask yourself if you trust your money with you or with someone you don’t know?

Ahhh … questions, questions, questions … I’ve got you thinking, finally.

I am not qualified in the area of Finance. I don’t even have a degree (not even one from Ashford or Preston Uni). But I do have the one certificate that proves beyond a reasonable doubt,  that I can make money and keep it …

Discharge  In order to qualify for this “exam”, not only did you have to have no money, you had to be a serious failure in serious debt. And to “graduate” in order to receive this certificate, you would have had to make money and that in itself is success from failure. To make money under such circumstances, you had to know the legal system. To do what I did meant that I had to understand the financial system in order to get to this level. And to get to the level at which my success is brimming, you would have had to put in much study time. So am I qualified? Technically, no. But I have passed life’s exams with the brightest of flying colors.

PLUS! … in the current situation, I am one of the few who isn’t hurting but instead, benefiting from the current crunch!

All it takes is a little know how, common sense and some education. Others have done it and are doing it and we’re the ones not bitching that we’ve lost money … in fact, we’re keeping quiet about making some! (Honestly, we’re laughing at all those articles in today’s papers).

If you want to know more, you know where to find me. (Look two posts below this one)

Cheers! and Happy Hunting Always!

P.S. Do your friends a favor and send this article to them. :

http://www.conradalvinlim.com/?p=270

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