[FULL] Edward Ang: “Everyone Has A Different Risk Level That They Can Take”, Financial Planning For Fresh Graduates And All About Rich Dad Poor Dad

Growing up, I experienced money anxiety where I felt uncomfortable talking about money with anyone. With friends and family, money is all about the things you do behind closed doors that eventually make you wealthy and rich. It turns out in this day and age, a 16-year-old kid knows more about financial knowledge than I did when I was 16. Having this open conversation with Edward, a financial planner who recently got engaged, is one of the baby steps I want to take this year in order to improve my financial situation. More importantly, he is just like you and me, risk-averse with money since forever. If you are interested in learning about financial planning, at least for a total beginner, this is for you. We talked about: [00:00] The first step for young adults like me to start their financial planning [01:59] What is risk tolerance? [05:05] How much emergency funds do you need [06:50] What do I do after obtaining financial literacy? [10:21] Dollar cost averaging [13:06] Why isn’t everyone investing if it has only upsides [17:33] Where do I start? [20:00] Misconceptions of insurance [22:27] What if your insurance agent goes missing? [27:16] What is the first step in buying an insurance plan [28:22] Are insurance policies from your current company enough? [34:49] How do savings/investments in insurance policies work? [37:26] Projecting your savings and budgeting for the foreseeable future [40:14] One tip in budgeting to know your financial position [41:54] Gen Z’s financial literacy [45:27] Doing his part of the job for “persistency” [47:00] The Black Mamba Mindset [49:03] Enneagram personalities Sound effects obtained from https://www.zapsplat.com Disclaimer: The content provided in this podcast is for informational purposes only and should not be considered financial advice. The hosts and guests of this podcast are not licensed financial advisors, and the information shared should not be construed as professional financial guidance. All investment and financial decisions should be made after thorough research and consultation with a qualified financial advisor or planner. The opinions expressed by the hosts and guests are their own and do not necessarily reflect the views of any financial institution, company, or organization. Listeners are encouraged to conduct their own due diligence and consider their individual financial situation, risk tolerance, and investment objectives before making any financial decisions. The hosts and guests do not guarantee the accuracy, completeness, or reliability of any information shared in this podcast. By accessing and listening to this podcast, you agree that the hosts, guests, and producers are not liable for any financial losses or damages incurred as a result of actions taken based on the content discussed in the episodes. Always seek professional advice from a qualified financial advisor or planner regarding your specific financial circumstances and goals.