Created on Wednesday, 22 December 2010 01:22
Written by Vera Tok
Ever wonder if it is possible to have your own financial consultancy firm when you are still a student? Look no further than Sam Goh Nai De, a second-year business management student from the Singapore Management University (SMU).
The young entrepreneur often emphasizes on the importance of “starting early and planning young” during his financial and investment planning workshops, and he is one good role model of his belief.
One moment, you may spot Sam in his SMU jacket along the streets of City Hall and the next moment you may be attending a series of financial and investment planning workshops at corporate offices that he conducts.
He is not only an undergraduate student at the Singapore Management University but also the founder and chief trainer of Wisdom Capital LLP. Wisdom Capital LLP is a practice management consultancy firm that specialises in providing financial and investment planning workshops as well as seminars.
However, just six years ago, Sam would hardly seem to be on the road to success.
At the age of 18, he discovered a huge interest in stocks and trading. But without any prior research, he used his parent’s trading account to purchase stocks under his friend’s recommendation. His lack of knowledge in finance and investing, accompanied with “over-confidence and ignorance”, caused him to lose a huge bulk of the money invested.
While this failure lost him the trust that his family members had in him, there was a greater reason that got him back on his feet again: he knew he could succeed and achieve investment success one day if he invests sufficient time and resources to learn the right approach to investing and managing his finances.
Subsequently, he spent months to pick up fundamental and technical stock analysis knowledge before venturing into the stock markets again six months later.
Since then, Sam applied the knowledge and experience acquired to pick and invest in winning stocks, giving him between 100% to 400% return on investments. To date, he has accumulated an overall investment outlay of close to half a million thanks to prudent investing and managing his finances wisely.
Sam’s discipline and prudence in managing his money was also rewarded eventually. In 2006, he was awarded the MAS Money Sensible Youth Excellence Award. This award aims to recognize and commend youths who have taken a sensible approach to managing their money.
His earlier failure not only taught him the importance of financial and investing planning for financial freedom, it also inspired him to inculcate this crucial mindset to every individuals. It became his passion to spread and promote financial literacy by creating greater awareness, especially among the young individuals.
Holding the appointment of Money Sensible Youth Ambassador under the MoneySENSE program initiated by the Monetary Authority of Singapore, Sam feels that he can contribute and play a role in the promotion of financial literacy. And ever since then, he has been actively advocating the importance of financial literacy and achieving financial freedom by conducting seminars and workshops for individuals and corporate organizations.
In 2009, he enrolled into Singapore Management University as a business management undergraduate. In the same year, he also founded Wisdom Capital.
To date, being the principal consultant and chief trainer at Wisdom Capital, he has spoken at various institutions, including schools, SMEs and NGOs. Sam believes that financial education through workshops and seminars is perhaps one of the best ways to develop one’s self-reliance and knowledge base in financial matters.
According to the first National Financial Literacy survey in 2005, many Singaporeans still lack knowledge in retirement planning, emergency funds allocation, life insurance policies and unit trusts. In view of this, Sam thinks that his company can not only impart fundamental financial knowledge to the participants, it can also serve to inculcate the need among individuals to take more initiative to enhance their own financial literacy and be responsible for their own financial decisions.
But this is not all that is unique about Wisdom Capital. What differentiates the young company from others is that it is the only financial consultancy firm in Singapore that is wholly managed by undergraduates. Sam appreciates young people who understand the essence of “Start early, Plan young”, and he hopes to have them join him and fulfil the common dream of promoting this message to the greater public.
As Sam always relate to all the participants during his seminars and workshops, the key to achieve financial freedom is to know how to manage your expectations, weigh the risks and acquire the relevant financial knowledge at a young age by planning early. So, says Sam, start early, plan young and you are definitely on the right path to achieve financial freedom!Related link: Wisdom Capital
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