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Me & My Money Series (Sunday Times)
No worst investment because she has not sold anything yet?? Huh?? That's a very weird answer indeed.........
The Straits Times
Nov 13, 2011
me & my money
Investing interest inspired by mum
Business owner now sets aside money for investments monthly
By Joyce Teo
Business owner Christine Mah, 31, knows the importance of investing only too well.
The single, who hails from Penang, was able to study at Monash University in Australia thanks to her mother's investment gains.
Her mother started to dabble in bonds, unit trusts and properties after learning about investing from her employer.
This interest has rubbed off on Ms Mah, who set aside money for investments from an early age and has now started doing so on a monthly basis.
She recently invested more than $100,000 of her money in her business - she partnered her former employer and started the House of Mini, a retail chain selling mini cupcakes and pastries, in April.
The idea came to her during a one-year work stint in Dubai, when she was helping Donut Empire set up stores there.
Her partner, who is familiar with franchising, suggested that they franchise House of Mini after the first store in Downtown East was well-received.
'It was more than I could have ever imagined doing when I started the business,' said Ms Mah, a Singapore permanent resident.
Within six months, there were five House of Mini stores. There will be 10 stores by the end of the year and next year, she and her partner plan to venture to Manila and possibly Kuala Lumpur. And that is when they plan to sell the business.
Q: Are you a spender or saver?
I am more of a saver, although I do spend on travelling as I love to travel.
Whether you are saving with a specific goal in mind or just for a rainy day, it is a good idea to put away some money on a regular basis. My monthly income varies, but in general, I try to save 40 per cent and invest about 20 per cent of the money.
I charge about $2,000 to $3,000 to my credit cards every month and I always pay my bills in full.
Q: What financial planning have you done for yourself?
Typically, I would want to put 30 per cent of the money set aside for my investments in insurance, 30 per cent in gold, and the rest in bonds and unit trusts.
I manage my investments, although I leave my portfolio of Malaysian bonds and unit trusts to my mother. I have started to send home $2,000 a month and she will help me invest the money.
Higher returns come with higher risks. As I'm a prudent investor, I'm looking at a rate of return of only 5 per cent.
Q: Moneywise, what were your growing-up years like?
I grew up with my mother and brother as my father died when I was only six.
My mother started as an administrative assistant at a civil engineering firm and is now a shareholder. She has been with the firm for the past 40 years. My brother owns an electrical and electronics firm.
Growing up in a single-parent family struggling to make ends meet, I learnt the value of money and the importance of savings from a young age.
Q: How did you get interested in investing?
It was during my teenage years, when I witnessed the changes in our family housing and lifestyle resulting from my mother's investments. She was quite aggressive then, investing in stocks and properties.
Q: When did you first start investing?
My mother helped me invest my red-packet money when I was young.
On my own, I bought a RM200,000 endowment policy when I received my first pay cheque. Half of my salary went into paying for the policy but my mother encouraged me to go for it.
Q: What property do you own?
In July, I invested in a serviced condo in a new development area in Penang on my mother's advice.
I bought it off-plan and the 1,100 sq ft unit, which is small by Malaysian standards, cost me RM500,000 (S$206,000).
Q: What's the most extravagant thing you have bought?
My Toyota Rush, which cost me less than $100,000.
It's a good deal, considering certificates of entitlement are at an all-time high now, but cars, like all machinery, are depreciating assets.
Q: What's your retirement plan?
My goal is to be financially independent before the age of 40 and retire before I reach 50.
I would need between $8,000 and $10,000 a month in my golden years.
I can then spend more time with my family as well as on travelling. My dream is to be able to travel and visit my children and grandchildren.
I would also want to volunteer my time at charitable organisations such as the United Nations Children's Fund. I don't donate money to charity, I don't believe in it. You don't know how much money will go to those in need.
Q: Home is now....
A rented apartment at East View in Marine Parade. I hope to buy a place next year.
Q: I drive....
A black Toyota Rush.
-------------------------
WORST AND BEST BETS
Q: What is your worst investment to date?
None, because I have not sold any yet.
Q: What is your best investment to date?
My investment in gold with Tiara Tailings. I invested US$6,000 (S$7,700) and have already made half of that in profits alone. I get US$90 a day from it.
The Straits Times
Nov 13, 2011
me & my money
Investing interest inspired by mum
Business owner now sets aside money for investments monthly
By Joyce Teo
Business owner Christine Mah, 31, knows the importance of investing only too well.
The single, who hails from Penang, was able to study at Monash University in Australia thanks to her mother's investment gains.
Her mother started to dabble in bonds, unit trusts and properties after learning about investing from her employer.
This interest has rubbed off on Ms Mah, who set aside money for investments from an early age and has now started doing so on a monthly basis.
She recently invested more than $100,000 of her money in her business - she partnered her former employer and started the House of Mini, a retail chain selling mini cupcakes and pastries, in April.
The idea came to her during a one-year work stint in Dubai, when she was helping Donut Empire set up stores there.
Her partner, who is familiar with franchising, suggested that they franchise House of Mini after the first store in Downtown East was well-received.
'It was more than I could have ever imagined doing when I started the business,' said Ms Mah, a Singapore permanent resident.
Within six months, there were five House of Mini stores. There will be 10 stores by the end of the year and next year, she and her partner plan to venture to Manila and possibly Kuala Lumpur. And that is when they plan to sell the business.
Q: Are you a spender or saver?
I am more of a saver, although I do spend on travelling as I love to travel.
Whether you are saving with a specific goal in mind or just for a rainy day, it is a good idea to put away some money on a regular basis. My monthly income varies, but in general, I try to save 40 per cent and invest about 20 per cent of the money.
I charge about $2,000 to $3,000 to my credit cards every month and I always pay my bills in full.
Q: What financial planning have you done for yourself?
Typically, I would want to put 30 per cent of the money set aside for my investments in insurance, 30 per cent in gold, and the rest in bonds and unit trusts.
I manage my investments, although I leave my portfolio of Malaysian bonds and unit trusts to my mother. I have started to send home $2,000 a month and she will help me invest the money.
Higher returns come with higher risks. As I'm a prudent investor, I'm looking at a rate of return of only 5 per cent.
Q: Moneywise, what were your growing-up years like?
I grew up with my mother and brother as my father died when I was only six.
My mother started as an administrative assistant at a civil engineering firm and is now a shareholder. She has been with the firm for the past 40 years. My brother owns an electrical and electronics firm.
Growing up in a single-parent family struggling to make ends meet, I learnt the value of money and the importance of savings from a young age.
Q: How did you get interested in investing?
It was during my teenage years, when I witnessed the changes in our family housing and lifestyle resulting from my mother's investments. She was quite aggressive then, investing in stocks and properties.
Q: When did you first start investing?
My mother helped me invest my red-packet money when I was young.
On my own, I bought a RM200,000 endowment policy when I received my first pay cheque. Half of my salary went into paying for the policy but my mother encouraged me to go for it.
Q: What property do you own?
In July, I invested in a serviced condo in a new development area in Penang on my mother's advice.
I bought it off-plan and the 1,100 sq ft unit, which is small by Malaysian standards, cost me RM500,000 (S$206,000).
Q: What's the most extravagant thing you have bought?
My Toyota Rush, which cost me less than $100,000.
It's a good deal, considering certificates of entitlement are at an all-time high now, but cars, like all machinery, are depreciating assets.
Q: What's your retirement plan?
My goal is to be financially independent before the age of 40 and retire before I reach 50.
I would need between $8,000 and $10,000 a month in my golden years.
I can then spend more time with my family as well as on travelling. My dream is to be able to travel and visit my children and grandchildren.
I would also want to volunteer my time at charitable organisations such as the United Nations Children's Fund. I don't donate money to charity, I don't believe in it. You don't know how much money will go to those in need.
Q: Home is now....
A rented apartment at East View in Marine Parade. I hope to buy a place next year.
Q: I drive....
A black Toyota Rush.
-------------------------
WORST AND BEST BETS
Q: What is your worst investment to date?
None, because I have not sold any yet.
Q: What is your best investment to date?
My investment in gold with Tiara Tailings. I invested US$6,000 (S$7,700) and have already made half of that in profits alone. I get US$90 a day from it.
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