Watch your Wealth . ... Tell us more about your role in Netccentric
I am the CEO of Netccentric. Many people are familiar with one of our brands, Nuffnang. That’s makes sense because it was how our company first started. Today, however, Netccentric is an integrated social media solutions innovator. It has various businesses under its group, such as Nuffnang, Churp Churp, RippleWerkz, Nom Nom, ReelityTV and Dayre, that help us provide social media solutions for our clients.
As CEO of the company, my main role is to chart the company’s direction and formulate business growth strategies so that we can continue growing and expanding our brands across the various countries we are in.
Who makes the financial decisions for the company?
As CEO, I make the financial decisions for the company. But I have a Chief Financial Officer (CFO) to support me. The CFO and Regional Finance Director give me data so that I can make sound business decisions based on accurate information.
I have my monthly report and analysis. We review it to understand our performance: whether we should invest in something, what do we invest in, and how those investments are going.
What does financial freedom look like to you?
I think the true term of “financial freedom” is to buy anything you want whenever you want it. I prefer looking at financial contentment, rather than financial freedom. I’d rather be contented with the things that I have and can afford today, rather than look at others and think, “I need to buy this thing because this guy has it.” There are people going to car showrooms all the time with perfectly drivable cars aiming to buy the latest model. I am not saying that is wrong, but it creates a lot of stress if you are stretching your finances to keep up appearances.
At what age did you start getting interested in personal finance?
I was interested in personal finance after I started working. Before that, when I was a student, I took the “papa-mama” scholarship. I lived on what my parents gave me and only started thinking about my own personal finance after I graduated from university.
You started Nuffnang after university. As an entrepreneur, how closely linked was your business to your own financial well-being?
It was linked at the beginning when our business first started and we didn’t have enough money yet. For the first one and a half years, I didn’t take any salary. After that, when the business began taking off, I got a salary of $1,500 a month. That was when I learned my best personal finance lesson, realizing that I could live on $1,500 per month if I wanted to.
Aside from your business, are there any other types of financial planning that you have done?
====cont2 At what age did you start getting interested in personal finance?
I was interested in personal finance after I started working. Before that, when I was a student, I took the “papa-mama” scholarship. I lived on what my parents gave me and only started thinking about my own personal finance after I graduated from university.
You started Nuffnang after university. As an entrepreneur, how closely linked was your business to your own financial well-being?
It was linked at the beginning when our business first started and we didn’t have enough money yet. For the first one and a half years, I didn’t take any salary. After that, when the business began taking off, I got a salary of $1,500 a month. That was when I learned my best personal finance lesson, realizing that I could live on $1,500 per month if I wanted to.
Aside from your business, are there any other types of financial planning that you have done?
Yes, I have a philosophy for personal finance. It is like building a fort. I am the castle, and around the castle there are walls. I try to have as many layers of defence as possible.
I diversify my portfolio with properties. When you study the local economic environment, you can find good investments to make. I make investments in stocks to give me passive income in the form of dividends that help me cover loans and mortgage. Lastly, I also keep a look out on my own share equity value since I own shares in Netccentric Limited.
Are you currently looking at Singapore properties?
I generally look outside of Singapore. My wife is Thai, so I have found some good investments in Thailand. I have been able to make 30 per cent returns in a short span of time from my investments in Thailand and London. If I leveraged on my London property, I can even make 100 per cent returns.
How do you invest in stocks?
I have a private banker to help me watch my portfolio and who also recommends stocks. I try to understand what his arguments are.
I do my own research and will make decisions from there. I will tell my private banker what my investment objectives are, and we work together to achieve it. I don’t believe in simply letting others make decisions on your behalf. Ultimately, any gains are yours to enjoy and losses are also yours to suffer. Don’t put the responsibility on someone else.
What about insurance planning, including health and life insurance?
Watch your Wealth . ... Tell us more about your role in Netccentric
ReplyDeleteI am the CEO of Netccentric. Many people are familiar with one of our brands, Nuffnang. That’s makes sense because it was how our company first started. Today, however, Netccentric is an integrated social media solutions innovator. It has various businesses under its group, such as Nuffnang, Churp Churp, RippleWerkz, Nom Nom, ReelityTV and Dayre, that help us provide social media solutions for our clients.
As CEO of the company, my main role is to chart the company’s direction and formulate business growth strategies so that we can continue growing and expanding our brands across the various countries we are in.
Who makes the financial decisions for the company?
As CEO, I make the financial decisions for the company. But I have a Chief Financial Officer (CFO) to support me. The CFO and Regional Finance Director give me data so that I can make sound business decisions based on accurate information.
I have my monthly report and analysis. We review it to understand our performance: whether we should invest in something, what do we invest in, and how those investments are going.
What does financial freedom look like to you?
I think the true term of “financial freedom” is to buy anything you want whenever you want it. I prefer looking at financial contentment, rather than financial freedom. I’d rather be contented with the things that I have and can afford today, rather than look at others and think, “I need to buy this thing because this guy has it.” There are people going to car showrooms all the time with perfectly drivable cars aiming to buy the latest model. I am not saying that is wrong, but it creates a lot of stress if you are stretching your finances to keep up appearances.
At what age did you start getting interested in personal finance?
I was interested in personal finance after I started working. Before that, when I was a student, I took the “papa-mama” scholarship. I lived on what my parents gave me and only started thinking about my own personal finance after I graduated from university.
You started Nuffnang after university. As an entrepreneur, how closely linked was your business to your own financial well-being?
It was linked at the beginning when our business first started and we didn’t have enough money yet. For the first one and a half years, I didn’t take any salary. After that, when the business began taking off, I got a salary of $1,500 a month. That was when I learned my best personal finance lesson, realizing that I could live on $1,500 per month if I wanted to.
Aside from your business, are there any other types of financial planning that you have done?
====cont2
ReplyDeleteAt what age did you start getting interested in personal finance?
I was interested in personal finance after I started working. Before that, when I was a student, I took the “papa-mama” scholarship. I lived on what my parents gave me and only started thinking about my own personal finance after I graduated from university.
You started Nuffnang after university. As an entrepreneur, how closely linked was your business to your own financial well-being?
It was linked at the beginning when our business first started and we didn’t have enough money yet. For the first one and a half years, I didn’t take any salary. After that, when the business began taking off, I got a salary of $1,500 a month. That was when I learned my best personal finance lesson, realizing that I could live on $1,500 per month if I wanted to.
Aside from your business, are there any other types of financial planning that you have done?
Yes, I have a philosophy for personal finance. It is like building a fort. I am the castle, and around the castle there are walls. I try to have as many layers of defence as possible.
I diversify my portfolio with properties. When you study the local economic environment, you can find good investments to make. I make investments in stocks to give me passive income in the form of dividends that help me cover loans and mortgage. Lastly, I also keep a look out on my own share equity value since I own shares in Netccentric Limited.
Are you currently looking at Singapore properties?
I generally look outside of Singapore. My wife is Thai, so I have found some good investments in Thailand. I have been able to make 30 per cent returns in a short span of time from my investments in Thailand and London. If I leveraged on my London property, I can even make 100 per cent returns.
How do you invest in stocks?
I have a private banker to help me watch my portfolio and who also recommends stocks. I try to understand what his arguments are.
I do my own research and will make decisions from there. I will tell my private banker what my investment objectives are, and we work together to achieve it. I don’t believe in simply letting others make decisions on your behalf. Ultimately, any gains are yours to enjoy and losses are also yours to suffer. Don’t put the responsibility on someone else.
What about insurance planning, including health and life insurance?