Friday, August 28, 2009
Post Birthday and Job Hunt thoughts
I know I am really late in this post but I like to thank my friends who sms/facebook/celebrated or even snail mail me birthday cards. Really appreciate it. And yes, i found a job and like what my boss promise the learning curve is pretty steep in the sense that its on the job training, no orientation, no other new graduates and there is only me so well right now i am still trying to stay afloat. Hopefully, i can meet or even better exceed their expectations. Its tough starting out but i am glad at least i got the chance to start. Good luck to all my friends who are trying, the market is turning better so there will be silver lining out of this but choose wisely.
Sunday, August 16, 2009
The need for bachelor of luck
Well, its been about 2 months since i have start the job hunting. I just came to realize while chatting with waihao that i have actually been to ten interviews in six companies out of 15 companies that i have applied for so far. Results were pretty mixed. I did get an offer on the first one but i did not take it. I am actually pretty glad that i didn't. I come to realize how important that first job is and getting it right. Most of the time, I held myself back, constantly thinking whether i was able to perform the task. Maybe i was too conservative but it was for a good reason that i did. Only time will tell when i get the right job and take the first step out.
So far, its been pretty demoralizing at times but i think i am still weathering the storm pretty fine. At least, my family does not require me to provide for them. I rather be label as picky right now. In the mean time I am actively preparing myself for the right opporunity, picking or revising skills that will put me in good stead.
So far, its been pretty demoralizing at times but i think i am still weathering the storm pretty fine. At least, my family does not require me to provide for them. I rather be label as picky right now. In the mean time I am actively preparing myself for the right opporunity, picking or revising skills that will put me in good stead.
Friday, July 3, 2009
Financial Beliefs and the job hunt
There is a spam of emails from different companies that are recruiting financial advisors or wealth management consultants. As with the mistrust of the majority of these companies, I have very little faith in most of the advisors nor consultants. Why? Simple, I don't think they know a great deal more than me or you about wealth management. Come on, passing a simple M5 M9 and HI doesn't make you all the more knowledgable.
I have taken and dropped a wealth management course in the states because the later part of the course regarding the tax area is irrelevant to the Singapore market but what i know is this, wealth management consist of a really big area and as mention not many of the advisors or consultants are trained to handle the dynamics of good financial planning. We all know, most financial planning will give you some amazingly big number that will make your jaw drop and then ask you to buy some unit trust or endowment plan because of their prescribe business model. How suitable are the products for you? Well not really because they don't know much and they just want to push a product so the majority of them just do not cater to your needs. That is one reason why i refuse to join them unless i am given my way in being able to really cater to the needs of my clients.
Say for example, the endowment fund matures about 20 to 25 years from today with a profit of maybe $5000 to $10,000 on average. Those who know the time value of money will be able to tell you $5000 to $10,000 in a quarter of a century later is not worth that much. For my understanding, endowment funds are more suitable if you have a specific purpose for the money and you probably won't want to risk it. For example, your children's education which is estimated for tertiary level to cost up to $300,000 per child in about 20 years time. Don't be too shock, the price of education has always risen faster than inflation and there is always demand for it. This also explains why not many people are having children. Can the endowment alone be enough, maybe or maybe not depending on your premiums but is it going to be your best vehicle ot deliver the results, again it depends on the individual. It depends on risk appetiate, spending habits and well your goals.
For me, simple yes i will have my endowment plan but that ain't the first thing i would be purchasing. It would be my parents hospitalizing insurances. Why? This is a no brainer, who do you think is most likely to suffer any illness. For most of us, its our parents and given the cost of healthcare here which is like education can only rise faster, this is going to be the time bomb that will rip you off your entire family savings. Its true what some Singaporeans have lamented about for a long time, you can die in Singapore but not fall ill. Are all the medicare and medisave going to be enough, well if you believe the governement will take care of everything by all means. Not for me. Therefore, i got my friend, one of the few good agents around to help me. Why is he good. Instead of just pushing his companies plan. He gave me a detailed comparison of all the different insurance policies available including those of his rival and explain to me what i should look out for. My advice is to do this and do this early because the later the folks get covered the more likely there will be problem areas which no one would be willing to cover hence increasing your risk. With that covered, now you can start getting yourself insured for other areas depending on the individual needs.
Another area for people to look into is their post marriage arrangement and housing. For most Singaporeans, they will end up working most of their life just to pay the housing loan. My own suggestion subjected of course to circumstances, is this, get a bigger house with a government loan and move the parents in as well. Political landmine with your other half and that is always the harder part to resolve but if you can do that the benefits are substantial. First, you can rent out the old estate and collect rent which you can then invest and roll your money. Second, with everyone staying together, there is less cost in maintaining two houses. Some couples aim to pay off their housing loan as soon as possible because of the compounding interest. However, my view on this is, you will never get another loan at this rate and you are paying this off using your CPF which in the first place you can't touch the majority of it until retirement hence why not just use your cpf and use your cash on other investment. You may even have enough to buy more properties and get passive income.
Another common mistake, youngster make is to get a car when they just started work. The monethly expenses will kill a lot of them. If these money can be invested and as early as possible over the long term, the returns will be substantial. Anyway, these are just some of my thoughts in achieving my financial independence but right now work on the job hunt first and hopefully get a good job which is kinda difficult given that most of the openings are now close.
I have taken and dropped a wealth management course in the states because the later part of the course regarding the tax area is irrelevant to the Singapore market but what i know is this, wealth management consist of a really big area and as mention not many of the advisors or consultants are trained to handle the dynamics of good financial planning. We all know, most financial planning will give you some amazingly big number that will make your jaw drop and then ask you to buy some unit trust or endowment plan because of their prescribe business model. How suitable are the products for you? Well not really because they don't know much and they just want to push a product so the majority of them just do not cater to your needs. That is one reason why i refuse to join them unless i am given my way in being able to really cater to the needs of my clients.
Say for example, the endowment fund matures about 20 to 25 years from today with a profit of maybe $5000 to $10,000 on average. Those who know the time value of money will be able to tell you $5000 to $10,000 in a quarter of a century later is not worth that much. For my understanding, endowment funds are more suitable if you have a specific purpose for the money and you probably won't want to risk it. For example, your children's education which is estimated for tertiary level to cost up to $300,000 per child in about 20 years time. Don't be too shock, the price of education has always risen faster than inflation and there is always demand for it. This also explains why not many people are having children. Can the endowment alone be enough, maybe or maybe not depending on your premiums but is it going to be your best vehicle ot deliver the results, again it depends on the individual. It depends on risk appetiate, spending habits and well your goals.
For me, simple yes i will have my endowment plan but that ain't the first thing i would be purchasing. It would be my parents hospitalizing insurances. Why? This is a no brainer, who do you think is most likely to suffer any illness. For most of us, its our parents and given the cost of healthcare here which is like education can only rise faster, this is going to be the time bomb that will rip you off your entire family savings. Its true what some Singaporeans have lamented about for a long time, you can die in Singapore but not fall ill. Are all the medicare and medisave going to be enough, well if you believe the governement will take care of everything by all means. Not for me. Therefore, i got my friend, one of the few good agents around to help me. Why is he good. Instead of just pushing his companies plan. He gave me a detailed comparison of all the different insurance policies available including those of his rival and explain to me what i should look out for. My advice is to do this and do this early because the later the folks get covered the more likely there will be problem areas which no one would be willing to cover hence increasing your risk. With that covered, now you can start getting yourself insured for other areas depending on the individual needs.
Another area for people to look into is their post marriage arrangement and housing. For most Singaporeans, they will end up working most of their life just to pay the housing loan. My own suggestion subjected of course to circumstances, is this, get a bigger house with a government loan and move the parents in as well. Political landmine with your other half and that is always the harder part to resolve but if you can do that the benefits are substantial. First, you can rent out the old estate and collect rent which you can then invest and roll your money. Second, with everyone staying together, there is less cost in maintaining two houses. Some couples aim to pay off their housing loan as soon as possible because of the compounding interest. However, my view on this is, you will never get another loan at this rate and you are paying this off using your CPF which in the first place you can't touch the majority of it until retirement hence why not just use your cpf and use your cash on other investment. You may even have enough to buy more properties and get passive income.
Another common mistake, youngster make is to get a car when they just started work. The monethly expenses will kill a lot of them. If these money can be invested and as early as possible over the long term, the returns will be substantial. Anyway, these are just some of my thoughts in achieving my financial independence but right now work on the job hunt first and hopefully get a good job which is kinda difficult given that most of the openings are now close.
Wednesday, June 3, 2009
Grad trip day 20 (Santa Monica and Hollywood)
Officially the last day we have in La, we set out to find the Hollywood sign.
The other place which had a good view of the Hollywood sign the Griffin Observatory.
After that its lunch at Chinatown and to Santa Monica.
At Abercombie and Fitch, imagine a nicely pack rack full of jeans, this is what it became after dear Scott went through the stack for an hour plus.
Finally back to our room to packed up before we were suppose to leave. Grad trip Day 18 to 19 (LA)
Its another long drive out to LA something like over 250 miles.
First thing we did after checking in, the walk of fame.
The first night at the walk of fame was not spectucular, all we found was some dead and unheard stars that was probably our parents era.
Rikki with the face mask. We parked at CVS and bought something so that we don't have to pay parking. Guess what the other night before we left, i saw cvs towing 2 cars away. hengz so be careful where you park. 
Next morning its Universal Studios Hollywood.
Word of advice get to the park early and start off your day at the lower area. We did that and we manage to avoid the crowd. We even manage to do some of the tides twice without having to que for it.
The funny thing, Rikki's cap flew off while we were taking this ride. 
You get to see how they create some special effects in the movies which i think is very interesting
The studio tour should be one of the highlights beside the tours i think its is very entertaining and the best part you are sitting all the time and under shade so for those who don't want to walk this is the place.
The desperate house wife setting.
War of the Worlds. 
This is a real man but he is damn good he looks really like a statue and a girl who thought he was a statue got the shock of her life when he move while she was trying to take a photograph with him (the statue) haha.
Off seasons so not much shows being film at the studios. 
The Chinese theatre, you will find the biggest stars with the walk of fame icon here. 
The Kodak theatre which i think is it the Oscars or some other big show is held here. 
Grad trip day 15 to 17 (Vegas and Grand Canyon)
We spend the day at the factory outlet checking prices and using the internet which unfortunately you got to pay at Stratosphere. And at night we return to the strip for more photo taking opportunities with the replica of New York Icons like the Statue of Liberty and Empire State Building.
Somwhat like Disney land, magic kingdom castle
The Egyptian Style Pyramid with the light beaming from the top which can be seen from far, i mean realyy far. 
The interior desing is kind of special as well. 
Another one of the top Casinos in Vegas, MGM.
The next day we drove to Grand Canyon but we are always damn "suay" when it comes to nature parks. It was super misty and foggy the entire morning and you can't really see a thing. 
In terms of trails, unless you are going down the Canyon, it is much easier than Yosemite.
After the fog lifted, we were finally able to see the full glory of the Canyon.
Btw temp difference in the sun and out is about 10 degrees so after the sun came out it became pretty hot.
Something i have been learning to do, attain inner peace. Haha not very successful so far.
Nah not trying to commit suicide after failing to achieve enlightenment. haha
More wild life. 
As always, bad weather will follow us when we go for hikes and probably something like 5 mins after this shot, rain started to pour. 
Since, we had to leave the park earlier than expected, we went to catch an Imax video. Actually it would be better if you watch the show before going into the park that way you can appreciate the grand canyon better.
This is the best part, the next day we checked into Stratosphere again but this time into a Suite during Memorial Day holiday which also marks the time where the sales are the best. The suite cost us 49USD a night and its really worth the money. The room was super huge.
The best part, a toilet that was bigger than my dorm room and there is a jacuzzi.
That evening, we met up with Sze Yuan and her family, went for buffet at the Mirage again and this time we created another bowl of congee with lots of crap meat and shrimps. haha.
Sze Yuan's parents were super cool people haha. They are not what i would think is the typical parent, they are the young at heart who would chiong on their own to explore the world which the typical parent would probably just follow a tour package and go on some boring tour. 
The strip at night from the observation deck of the stratosphere. Btw its free.
They even provide couch for visitors so you can just chill there and enjoy the view. 
This is the most scary ride i think even some theme parks cannot match. Its mounted on top of the stratosphere and you will be sliding across and hanging at the edge. Not for the faint hearted. 
Since, we had to leave the park earlier than expected, we went to catch an Imax video. Actually it would be better if you watch the show before going into the park that way you can appreciate the grand canyon better.
This is the best part, the next day we checked into Stratosphere again but this time into a Suite during Memorial Day holiday which also marks the time where the sales are the best. The suite cost us 49USD a night and its really worth the money. The room was super huge.
The best part, a toilet that was bigger than my dorm room and there is a jacuzzi.
That evening, we met up with Sze Yuan and her family, went for buffet at the Mirage again and this time we created another bowl of congee with lots of crap meat and shrimps. haha.
Sze Yuan's parents were super cool people haha. They are not what i would think is the typical parent, they are the young at heart who would chiong on their own to explore the world which the typical parent would probably just follow a tour package and go on some boring tour. 
The strip at night from the observation deck of the stratosphere. Btw its free.
They even provide couch for visitors so you can just chill there and enjoy the view. 
This is the most scary ride i think even some theme parks cannot match. Its mounted on top of the stratosphere and you will be sliding across and hanging at the edge. Not for the faint hearted. 
Its nice to meet friends when you are oversea.
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