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Little Green

As I write this update, I’m listening to Joni Mitchell’s Little Green at possibly too high a volume for 11 o’clock at night, but I have no idea how thick these walls are, so let’s find out. This unusually unneighborly behavior has been brought on by watching the new High Fidelity TV series (yes, based on that Nick Hornby book), starring Zoe Kravitz in the role played by John Cusack in the 2000 film, and look, the whole thing is sublime. Watch it, because it’ll remind you that you were once young and played your music loud. And that it’s been too damn long since you’ve heard Darondo’s Didn’t I.

This is also made possible by the fact that I’ve finally traded in our aging Asus router for a pair of Netgear Orbi mesh routers. Only 1.5 years after moving in. And so the internet is now flowing into a part of the house that I’d neglected before because what in the hell am I supposed to do in a room with no WiFi? This room is now going to be a place where I can sit in near darkness, streaming really warm sounds out of a cranky first-gen Beolit speaker, writing on my iPad, and drinking. Aww yes.

Speaking of Little Green…

I spent most of last year getting up to speed on personal finance basics at the ripe old age of a̷l̷m̷o̷s̷t̷ 4̷0̷. For most of my working life, money and investing was an essential resource that I never fully understood, and I was mostly happy to have it sit in that blind spot, content that simple saving would do alright “for now” and nervously assuming that the “for later” part would sort itself out in the end.

I put some blame on the false absolutes we were taught in school: kids are sorted into separate paths focusing on either sciences, economics, or the arts around 14, if I recall correctly, and it’s too easy to let that define you to yourself. I ended up with the thinking that money was for the money people. Of course, I accept the residual blame for hiding behind that lazy excuse all these years.

So when I read Ramit Sethi’s approachable book “I Will Teach You to be Rich” last month, I was relieved to find that I already knew the majority of its lessons. As he puts it, the best time for me to have started investing was 15 years ago; the second-best time is now. Another practice that made sense to me: setting up monthly financial check-ins as a family. Even if there’s no news to update each other about, it sets aside time to think and plan.

In any case, it certainly seems like personal finance is being discussed a lot more frequently in casual conversation today than it was when I was growing up, or even in the past 10 years, for that matter. Financial literacy has probably never been higher.

I attribute this to the rise of fintech startups, how many there are, and how visible their services are in our Instagram feeds. If you live in Singapore and haven’t seen a StashAway/Endowus/Syfe/Kristal ad, then I’ve got a referral code to offer you.

For the unfamiliar, these are all so-called roboadvisors, usually helping you to buy into a portfolio of ETFs based on your asset allocation preferences/risk appetite, while taking a sub-0.8% cut for management fees. It’s remarkably easy to get started once you’ve educated yourself and decided you want in — whereas back in my day, before online banking (let alone mobile banking), starting a trading account was an arcane art that required serious capital.

Based on what I’ve seen, the equivalent offerings from traditional banks (DBS, UOB, OCBC) are only playing catch-up, both in terms of fees and design. It would be fun to do some research on how the boundaries of trust have moved and what Singaporeans’ financial behaviors look like now. I used to wonder what the big deal was with the local licensing exercise around digital banks, but now that I think about it, there’s obviously blood in the water.

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