In 1997 I made a similar mistake by gambling my father’s money (under my care) into commodity futures. I quickly realize I took on a bigger risk than I could afford and immediately i decided to exit at a huge loss.
Over the years I have used up increasing amount of money that really belongs to wife and grandpa. Now I need to stop that trend and rebuild (or maintain)
- grandpa’s SGD 40k
- wife’s SGD 85k
- –The USD amounts below can be invested in liquid assets like stocks, mutual funds or REITs
- wife’s USD 70k
- grandpa’s USD 26k
I think the SGD contingency reserves should remain reserves, not invested in another shop unit !
In my experience,
- I have often felt guilty and regretful using OPM as my own money
- Have I ever regretted keeping OPM as OPM?
In contrast, my personal reserves do not generate guilt and regret:
- CPF
- 401k
- warehouse account with Jay Hu