So Budget 2015 is out and you’re upset that they are hiking the petrol duty rates? Let’s face it, we Singaporeans can complain all we want but some things just aren’t going to change. Instead of complaining, why not let’s find a way to get around it?
How wealthy people work their way around these things
I’ve notice that there’s a big difference between wealthy people and average people.
Wealthy people generally tend to be resourceful people while the average people are merely people with resources.
Hence when resources are reduced (e.g. increase in petrol costs), average people tends to complain and make a lot of noise while wealthy people just cleverly their way work around it – No wonder the rich only get richer!
Today, allow me to teach you a trick that will help you think like a resourceful person and get 52 free cab rides a year!
No… I’m not here with a never ending list of Uber codes or Hailo discount vouchers. I have an even better solution!
Fact: Did you know that the largest taxi operator in Singapore is listed on the Singapore Exchange? That’s right… shares of Comfort Del Gro (C52.SI) can be purchased by almost anyone. Now that the Singapore Exchange has reduced the minimum size of a lot from 1,000 shares to 100 shares, it is even easier for you to own the shares of Comfort Del Gro!
So what does owning the shares of Comfort Del Gro has anything to do with free cab rides? Everything!
Instead of paying Comfort Del Gro when you take their cabs, why don’t you get them to pay you?
You can do that by simply buying their shares and holding it long enough to collect their dividends payouts! Currently, Comfort Del Gro stocks will give you a dividend yield of about 2.5% (dependent on your purchasing price).
That means if you had invested $25,000 into Comfort Del Gro stocks, you would have a dividend return of $625 per year!
Think about it… That’s $12 worth of free cab rides every week! If you didn’t take a cab that week, you can even roll your credits over to the following week.
What’s more, when the price of the shares increase (which they generally do in the long run); you will also get to enjoy capital appreciation as well as your free cab rides. Talk about killing two birds with one stone!
What if I don’t have $25,000?
If you’re upset that petrol costs are increasing, I’ll have to assume I’m talking to the majority that owns a car. And if you own a car, the truth is that you DO have $25,000, just that the money is locked inside your car.
Given that the cost of owning a car is set to increase in Singapore and the value of your car is decreasing rapidly, it would be wise of you to seriously reconsider owning a car if you want to achieve financial freedom early in your life.
Or perhaps… could this be the time to invest in oil stocks?
Featured Image Credits: todayonline.com