I have always been interested in the area of investment and financing. But you may ask, hey you are a doctor! It's not enough just to know about my own profession though. Things that determine how the economy works is fundamental to help one to achieve financial independence. I had the opportunity to attend a Fintech vs currency war talk held by Ubis Academy recently. And I would like to share with you all about the following interesting facts about our current economy and how to use it in our favor.
Ubis Academy is a college that offers financial education to create entrepreneurs. They have short term courses ranging from weeks up to 12 months and offer interesting courses like Professional diploma in applied finance. These are part-time courses which means that you only need to attend classes every fortnight or so. But these are very practical real-life scenarios being played out during the classes.
Ubis Academy
11-12 Menara Sentral Vista, Jalan Abdul Samad.
+60 3-2711 4292
Official website
http://www.ubisacademy.com.my/
Facebook page
https://www.facebook.com/ubisacademy/
https://www.instagram.com/ubisacademy/
The following are a few interesting concepts introduced during the talk.
A successful entrepreneur Robert Kiyosaki said, "a rich man does not worry about money" because he doesn't depend on the paycheck or pension financially. He does that by making sure a steady cash flow of passive income from his business ventures. Watch him on YouTube explaining why getting a job is for losers.
How good is the thought of waking up knowing that your pocket is full and you don't have to worry about how to fend for yourself and your family? What about not having to think about expenses? What about an impromptu overseas trip? For one, I'm a full-time doctor and always carry this guilt when on holiday because my colleagues have to cover my work when I'm away. And I wish I can stop calculating my budget which sometimes kill the fun.
Most graduates go through this predictable course. Got a job, bought a car, got married, bought a house, gotten a few children. We, unfortunately only think about investment later in life. Ubis Academy seeks to introduce this concept of importance of using investments to cover expenses and loans. That includes investing early, maybe even before one starts to have steady income.
The speaker Mr Partiban also explained how us the Ninja generation can earn something out of nothing by fully utilising the concept of FinTech aka Financial Technology. Do you even know that Cradle Fund exists in Malaysia to encourage youngsters to come up with more FinTech ideas? One of the main components of FinTech involves the use of social media replacing conventional banking services.
He further concluded that due to the currency war in which giant economies, in the effort to reduce national debt, deliberately devalue their currencies resulting in dumping of currencies into young economy like Singapore and Malaysia. This is at the expense of a much higher cost of living. Thus investment becomes even more important.
Does this sound mind boggling? I find that these are very practical advice and financial planning for individuals and families. And Ubis Academy is offering a series free of charge at the moment. If you want to know more in depth and become a trader or broker, enrol into one of their courses and become inspired by these important facts that is not taught by the textbooks.
Gotten this book about cryptocurrency after the talk. Gonna be my bedtime reading for the next week :)
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