To our partners, clients and readers:
Wealthdojo passed many milestones in 2020. Some of which personal, some of which professional and some of which are hearing stories of how Wealthdojo has impacted your lives.
Wealthdojo was created to serve you as an knowledge base, an inspiration and also a place to make informed actions for your financial journey. I have thought deep and at length of how to impact the personal finance scene in Singapore before creating “The Daily Learning” from Telegram.
But this is still Day #1 for personal finance in Singapore. I aspire to be the thought leader of personal finance in Singapore and partner you through your financial journey.
It is all about the long term:
I think that people underestimate – until they get older – they underestimate just how important habits are, and how difficult they are to change when you are forty-five or fifty, and how important it is to form the right ones when you are young.
Quote from Warren Buffett.
I believe that habits are the building blocks for success. My own personal finance started when I first controlled the desire to buy a playstation 3, the ongoing urge to drink bubble tea and temptation to mindlessly watch youtube during my free time. I don’t not have a playstation 3. I confess I do drink bubble tea (maybe twice a year). I make extra effort to ingest as much financial information during my free time (though I spend a lot of time reading manga).
I believe that heading in the right direction in a simple, sensible and consistent pace is more important than optimizing and being extreme. Those rarely work in the long run.
In Wealthdojo, I aim to make it AS SIMPLE AND AS TIME EFFICIENT AS POSSIBLE for you to work on your financial journey.
Working on your financial journey is not a “one-time off” like a house renovation. It is a like a grass patch that requires you to work on it constantly to create a beautiful garden full of flowers. It is my aim to help you create the bed of roses. Here, we start with habits.
By many measures, we came a long way:
Here are some key metrics (unaudited) that I take pride in my journey in 2020.
- Protected the wealth of 37 families through their insurance program
- > $100,000 paid out in claims through their insurance program
- 31 new families embarked on investment or insurance program
- 82 articles written (2020 till 21Jun21)
- Read 6 new books (I believe there was more)
- 6 Online Webinars
- Awarded Top 75 Singapore Investment Blog
- Featured on Singapore’s Finest
- Awarded MDRT (Top 5% Financial Consultants World Wide)
- Top Article: 5 things you need to know about SRS when you are 40 and older
- 100th article milestone
Goals of 2021:
I believe Wealthdojo (and myself) are still at the early stages of learning how to create more value to our partners, clients and readers. I want to thank the many of you who have given invaluable feedback on how to make it better and it will be done.
To improve the quality and value to you, these will be a few projects, goals and certifications I will be embarking this year.
- The Institute of Banking & Finance: IBF (Advance) Level 2
- The Institute of Banking & Finance: IBF (Qualified)
- 10 new books (Only books worth reading will be introduced)
- Inspire 50 new families to work on their financial journey
- 12 High Quality articles (one longer article a month)
- 3 High Quality Webinars
- Continue being MDRT in 2021
One Final Story:
In 2019, I met Joyce (the name has been changed). She was not working at that moment of time. She has been feeling lost in her financial journey and also in life. At that time, she was spending more than she earns, accumulating credit card debts and also relatively close to retirement age. The financial scene is a very noisy scene. She always felt handling money was very complicated and she was too busy to handle them.
When she first read articles, it felt like an epiphany came upon her. She contacted me and the rest was history. In a simple, sensible and consistent manner, we worked on her financial portfolio from scratch (she started with $20,000 in her bank not including credit card debts). I’m glad to say that she is currently credit card debt-free, have a solid insurance portfolio and also managing a 6 digit investment portfolio.
She wants to impact the younger generation of her mistakes that she made over the years. She now spends her free time impacting youth in church. We still remain close in contact till today.
Joyce is an example that is not too late to start. I look forward to impact the lives of more “joyces”.
2020 was indeed an incredible year. I’m extremely grateful to my partner, clients and readers for your business and trust. I look forward to writing this annual report in 2022.
Chengkok is a licensed Financial Services Consultant since 2012. He is an Investment and Critical Illness Specialist. Wealthdojo was created in 2019 to educate and debunk “free financial advice” that was given without context.
Feel Free To Reach Out To Share Your Thoughts.
The views and opinions expressed in this publication are those of the author and do not reflect the official policy or position of any other agency, organisation, employer or company. Assumptions made in the analysis are not reflective of the position of any entity other than the author.