Financial Lessons from Presidential Candidate Ng Kok Song

 

My vote for this upcoming presidential election is obvious - I will vote for Tharman. It's essential to send out a message that in a multi-racial society, an ethnic Chinese citizen can vote for an Indian leader regardless of what the ruling party says about Singapore not being ready for a minority PM. I'm also a realist who believes that India's economy will be very dynamic compared to that of China, which has been mismanaged by an autocratic Communist Party, and having a symbol that is ethnically Indian is for the greater good of Singapore as we build further commercial inroads into India. ( A Suzhou Industrial Park in India? )

But while my head is with Tharman, my heart goes to Ng Kok Song, who has not only tried his best to bring dignity and environmental friendliness into his campaign but has given so much down-to-earth financial advice to folks following his campaign. My wife has signalled her intention to vote for Ng, and I fully support her decision.

I will probably write a lengthier article on Dr Wealth Blog elaborating on this advice, but I will list what has been shared here and grow this dynamically as I get more snippets of wisdom from Ng. 

Here goes :

• Points out that public speaking and communication skills are the most important to develop and may need to improve in schools. This is closely followed by financial literacy.
• Family finances can be managed well if run just like a professional portfolio.
• Sharply identifies saving money as the most critical skill in personal finance. 
• The way to invest is to prefer a diversified portfolio of assets across different asset classes.
• Your time horizon needs to be extended for investment to bear fruit.
• The expected returns for a diversified portfolio are a nominal 7-8% for decades.
• You need to keep expenses low, hinting that ETFs are the best way to go ahead for retail investors. ( FAs will never admit this ! )
• The whole point about managing finances is "optionality", the power to leave a boss who is terrible to you. 
• Alluding to the duality of wealth generation in Singapore. You must do well in your investment portfolio and supplement it with residential property. 

Readers are free to chip in if I miss out on anything.

Of course, any discussion on Ng must discuss Sybil Lau, his fiance, who attracts much attention because she is 30 years his junior. My favourite quote from her is this :

" For lack of a better word, I'm financially independent. "

Folks tell me that some auntie networks say Sybil is a gold-digger who wishes to marry a 75-year-old fund manager. If you dig into her background, she is much wealthier than him. This reflects the power of a financially independent woman. Ng is eloquent and very much an intellectual, so Sybil has found a soul mate.

I wish for Ng to continue engaging with the public even after his campaign for the Presidency is over. Of course, I'm interested in more than just his views on finance. I'd like his views on love and relationships as well. Remember this - He's loyal to his first wife until the end.

Of course, BBFAs and Useless caste members are probably tempted to vote for that THIRD GUY. Now, it is made more popular because of the statement issued by AWARE.

It's your vote and your right to spend it as you wish. But INCELS could learn something from Ng because he's found love even when he's about to get into his 70s, which many INCELS can't even smell in the prime of their lives.