Dear readers, over the previous weekends, I read an article which was actually a resurfaced article of a man who has gone to Raffles Place last year with a sign stating that he has lost $200,000 of his CPF monies in an investment scam and asking others what to do. I believe you may have chanced upon this article too.
Well, what is my comments about this? First, it is really a very regrettable thing to lose that much of monies. Think of it, hard-earned savings of $200,000 which was lost just so easily through an investment scam. That $200,000 could have well been spent on improving the quality and opportunities of living for the man and his family.
Second, this episode highlights the importance of financial and money management. I am of the belief that not many of us have been conditioned to manage lots of monies. Hence I often read of cases where people lose many of the monies they have painstakingly saved or have won through the lottery. This is simply because if individuals do not know how to manage large amounts of monies, they would somehow spent it away quite carelessly.
Simply put, it is all about money management.