About Me: Traveling-Investor

-
As I am inspired by the likes of Ray Dalio and Jim Rogers, I decided to document some of the principles that guided me and my experiences that had led me to where I am today.

I have always reserved a strong belief that sharing information or general advice should be FREE, rather than like the paid "tainted" investment advice that phony financial advisers offer. In my previous life, I had the luxury to work with financial advisers so I know how they generally behave and act.

During the 1980s, as a son to new immigrants in Australia and had the privilege to be born and raised in this gifted country. My parents were poor upon arrival and had nothing. They met and got married, and then had me the following year. Throughout my years from age 0 to 5, I was not taught the English language as my parents spoke their own language and taught me just that and even today, they are still very poor in the English language. I started to enter kindergarten at the age of 5 and only then I was taught English and throughout my schooling years.

Key principles:
1. Distinguish between a "need" and a "want"

2. The power of "compound interest"

3. Learn how to do it tough (esp. start from the bottom and then move up).

4. The risk-reward profile

5. When you are in your "teens", save money (when you are young)

6. When you are in your 20s, start investing

7. When you are in your 30s, focus on what you want to do in life (excluding occupation)

8. Work out what you can cut (costs or bad habits) and what you can't

9. Its all about effective cash-flow management

10. To get ahead financially is NOT that hard, focus it in a simple way

11. Do what you are good at

12. Eliminate any barriers, constraints, or emotions in your decision-making process

13. Learn how to be flexible and mobile

14. Always enjoy life and take care of your mental health

15. Sometimes a loss in life is inevitable, but objectively look at ways on how to minimise or stop the losses

16. Always reflect about the past and learn from past mistakes, rather than focus on past glories

17. Openly discuss with a great range of people your ideas or topics rather than that small but the same group of people you associate with

18. Avoid baseless speculation (on asset value appreciation), but focus on yields

19. Properly manage debt levels, rather than focus on tax deductions

Jim Roger's vision about life and investing:
https://www.youtube.com/watch?v=THyklQNg3S0

How Warren Buffett values companies:
https://www.youtube.com/watch?v=9IgtSNdl7tE

https://www.youtube.com/watch?v=1PUceq7Vzmc

Comments

Post a Comment

Popular posts from this blog

Opening a Portugal bank account remotely (easy step by step)

-
Image
Other than using the services of bordr.io (cost 350 Euros to open at the time of writing), the Portuguese bank account I found on the internet that you can open outside of Portugal is Banco Atlantico Europa . When you navigate to "Open Account" the following screens asks you to download its app on Android or Apple app stores. This is what the app looks like in the Android app store. Once you open the app, the following screens will appear and it states the relevant documents you need to upload via the app either from photos or pdfs. You will need to follow the steps to create a User ID, enter your email address, your cellphone number (even if its a non-Portuguese number), your residential address (in your country), your work profession (job title and employer name) and your NIF. Once completed you will need to upload these documents to prove your name (eg. passport), DOB, passport number, nationality, your proof of residential address (eg. driver's licence, utility bills,...
Read more

SEF Appointment (Resident Permit/Autorização de Residência )

-
After successfully obtaining your D7 (temporary) visa, there is usually a web link on your Portugal visa attached to your passport. This link provides you the information for SEF appointment (eg. date and location). The SEF appointment is to obtain your residency permit or known as the Autorização de Residência. Note : I did everything myself and did not use an agent or lawyer (which I hear other people doing). In most cases that I gathered, most appointments are located differently to where you live in Portugal. So there is some hassle to get there. But luckily in my case, my appointment location was in the same city I live in and I got there 45 minutes before the appointment schedule (not necessary, as I still had to wait about 40 minutes until my ticket number was called). When you arrive at the SEF office, you go to the staff/security and let them know you have a SEF appointment and he/she will check your name against the schedule he/she has and give you a ticket number. You ju...
Read more

DIY low cost method for a Portugal D7 visa

-
Image
I've always believed in doing things by myself as much as possible and trying to lower the costs of doing each activity by understanding the entire process. So I've written this post to explain the steps I took with my "Do it yourself (DIY)" application process and recorded the cost of each process. To begin with the process, I enquired about the D7 visa with the Portuguese Consulate in Sydney Australia, and this is the list of the requirements they provided me (note: amount requirements was based on November 2021 eg. minimum income in Portugal at the time): The official application form and passport requirements are self-explanatory. You should follow the steps accordingly esp. application of the NIF is the very first step, without this you cannot open a Portuguese bank account and sign a registered rental lease. 1. Application of a NIF Use either NIFonline.pt (cost 59.90 Euros plus extra VAT which totals to 73.68 Euros), bordr.io (cost 150 Euros), or AlgarveKnowHow ...
Read more