Money plan after graduation (for investment capital)

After graduation, my primary goal is to accumulate funds for investing. I believe starting early is important, as long-term investing tends to offer the best returns, so I want to lay a strong foundation. By starting early, I hope to compensate for any mistakes I may make along the way. My aim is to begin saving and investing while I'm still young, allowing myself time to learn and grow through the process.

✍🏻Increasing income

A key step in this process is increasing my income. I've spent considerable time experimenting and figuring out which role and environment best suit me, while understanding my limits and maintaining a healthy balance. I recognize that this journey won’t always be straightforward, especially as I take on more responsibilities in a job, so I want to ensure I don’t become overwhelmed along the way.

You might find these books helpful in navigating your career, particularly in areas like transitioning to a new job, negotiating your salary, requesting promotions, and building professional networks.

  • When to Jump outlines four key steps for leaving an unsatisfying job: listen to your gut, make a plan, be open to luck, and don’t look back.
  • Never Eat Alone provides actionable steps and a mindset for building a strong network.
  • Who Gets Promoted, Who Doesn’t, and Why offers insight into climbing the career ladder with proven strategies for advancement.

✍🏻Side hustles

This is only if you have extra capacity beyond your regular job. While it is great to have weekday evenings and weekends free, having side hustles alongside a 9-to-5 job can boost your net worth and provide a stronger financial safety net. It's great when these side gigs can cover monthly expenses.

I chose my side hustles based on my existing skill set and the skills which I want to hone.

I find that these books are helpful in sharpening my focus and time management skills.

  • Work clean: The life-changing power of mise-en-place to organize your life, work and mind
  • 18 Minutes: Find Your Focus, Master Distraction and Get the Right Things Done
  • Master your time, master your life: The Breakthrough System to Get More Results, Faster, in Every Area of Your Life

✍🏻Useful time management techniques 

  • 80/20 Principle: Concentrate on 20% of the tasks (most important) that will enable you to achieve more.
  • Pomodoro technique: To get more done without interruptions, work in 25 minute intervals, with 5 minute breaks in between.

✍🏻Investments

After securing my insurance and building an emergency fund, I invested in index funds, REITs, bonds, and stocks.

✍🏻Index funds

I started out with index funds, intending to stay invested for the long run. I want investing to be efficient and simplified for my first investment and that is for my foundation.

Index funds are a smart investment because 

  • it tends to perform better over the long term
  • saves time (researching on which stocks to purchase takes up more time)
  • saves money (active trading involves multiple fees)

  invest the time to acquire skills, build income streams and accumulate assets instead of researching which stocks to buy.

✍🏻Individual stocks

With the dip in the stock market in May 2020, I invested in stocks. There are so many interesting companies such as Tesla, Lemonade and Revolve to consider.

On a note of never stop learning, I began with index funds, gradually taking the time to learn about stock picking. As I became more comfortable with investing, I transitioned from ETFs to individual stocks.

✍🏻Book recommendations

These are the books on investment which I really enjoy

  • The intelligent investor
  • A random walk down wall street
  • The little book of value investing 

I write more about Investing, Personal finance & Positive psychology in my ebooks here

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