What will you do AFTER retirement?

People who ask such questions are frequently the same person who use "work" to avoid the unpleasant task of figuring out the reason why they get up in the morining (ikigai).

Its not "work" - if you enjoy what you do.

Why stop if its stil fun and giving you a sense of purpose and self actuallisation satisfaction?

Perhaps that's why Warren Buffett, Li Ka-shin, Lao Lee, never retired?

Eh, don't say Li Ka-shin will be retiring next year. "Retiring" at age 90 is not retirement OK?

No need to look up.

Just look around you.

Can you spot some plain vanilla seniors in their 70s and 80s loving what they do so much they still continue to do what they like despite the paycuts and job title demotions?

They are definitely not working because they "have to"; or using "work" as the perfect tool of denial (too busy to think mah!) that they haven't figure out why they get up in the moring...

You know why corporations have grey grey fuzzy fuzzy Visions and Misson Statements before more concrete and SMART business goals?

Concrete goal setting is like climbing a ladder - the rungs representing the various milestones before you reach the top of the ladder.

However, shit happens when you discover at the top and after reaching your goal, that your ladder has been leaning against the wrong wall...

Argh!!!

Maybe that's why we have mid-life crisis?

Some woke up one morning and realised they no longer wish to spend the rest of their lives with the woman or man sleeping next to them...

Some found out the same job that nourished and inspired them yesterday no longer motivates...

Want to have a bit of fun learning to read people?

Next time you see friends or bloggers with manifestos to be financially free by age 35, see if you can spot those who are trying to "escape", and who are seeking to "achieve"?

Tip: Those who seek to "achieve" are the ones who have figured out which wall to lean their ladder against first ;)

P.S.  If you need a listening ear to your ikigai questions, just jio me out for kopi.

As a man-whore, professional ethics dictate I won't spill the beans on you. Who dares go to a prostitute who sleep and tell on clients?

Many have asked precision questions like how much money they need to retire...

How many will spend time figuring out why they get up in the morning in the first place?

Any people wonder why after achieving their goals, and having loads of money, still do not make them happy...

Where are the Retail Growth Investors?

In my previous post, I wrote in the comments section that most retail investors began their journey as a Trader, then as a Value Investor, moving on to Dividend Investing, and finally capitulating towards Low Cost Passive Indexing when all things fail...

What about Growth Investing?

Ah! 

That was deliberate.

Why?

Because most retail traders and investors behave like Growth Investors - no matter what they call themselves.


Verification 1: When you made a trade to buy (long), and/or you invest in something, were you expecting the price to go up higher?


Verification 2: When equities prices were low in 2009 and end 2011, did you do most of your buying then? Or looking at your entry prices, most of them were bought near intermediate highs?


Verification 3: How many of you waited for the dip to scale into your position (let the price come to you)? You chased the market didn't you?



So tell me, how are you not a Growth Investor by default?








P.S.  For those who are not familiar with Growth Investing.

The father of Growth Investing is Thomas Rowe Price, Jr.

Most retail investors are more familiar with Philip Fisher and his book "Common Stocks And Uncommon Profits".

This post is a parody.

Although most of us act like "Growth Investors", there is a reason why most retail traders and retail investors lose money.

And for those who like to do reflections and 2nd level thinking, ask yourselves why there are so few seminars/courses on Growth Investing?

If you think you have the answer, buy me kopi and we can exchange our thoughts over drinks. Wink.

Come! I recommend you jio Uncle8888 for coffee!

Treated him once; he now keep pestering for coffee at my watering hole...

So to get him off my back, I now write this advertorial to "lelong" his "Act of Charity" to you all.

Uncle8888 aka CW (I call him affectionately as the fisherman) has recently retired.

And he got only one final pokemon to catch before he retires completely from the game...

Yup! Time is on his side!

If you would like to seek the advice from a senior who has walked the walked; talked the talked - then look no further.

Someone who has climbed down the mountain.

Contrast it with you taking advice from someone who is still trying to climb up the mountain himself/herself... 

What the fisherman says is based on his personal track record and actual life experience; not straight line "extrapolations" or "prognosis".

All he asks in return is a drink (copy cat). He seems to like Ya Kun kopi black.

Go! Jio him for a drink at his blog DIRECTLY.

Got "heart", you'll find his email address.

If really cannot, write to me at my "jio me for coffee" (all the way at the bottom of my blog), and I'll tell you his email address.

But first, you'll have to sit through me "lecture you" on why its harder for you to succeed in life if you expect the mountain to move to you - the entitlement mentality.

Yah you!

The one who keep asking, "What stock should I buy?" or "At this price can buy or not?"

You free on 23 Oct 16 Sunday afternoon?

The good people who invited me as a speaker last year have organised another seminar next month on 23 Oct 2016, Sunday 1-5pm.

No, I won't be speaking again as this time. I think they have found out painfully last year, anything that's free is probably "suspect"... LOL!

Do check out the speakers below:

Profit Mastery Seminar 2

You know what? It's not free! Thank goodness for that!

Friend, only $20 per person.

Wait!

Just enter "BLOG50" when you register they will give you a 50% discount?

Yes. Only $10.

Pay a few hundreds for a course preview is "bei kambing; free is "suspect".

$10 is the sweet spot. Ah...

P.S.  I've marked this post as advertorial; but I'm not paid a single cent to write this post. Sometimes its not always about money, money, money.

Although having said that, I'll put on his tab one drink the organiser "hutang" me. Cannot be free. That will lead to abuse...   

First Singaporean Board Game To Hit High Street Stores

Technically this post is not an advertorial - not paid $ and I didn't even get a free drink!

But I'll still label it as an advertorial.

This way, the good folks at Capital Gains Studio may remember and buy me a drink next time we cross paths. Wink.

And no, they didn't hint or coerce me into writing this post. It just happens I'm on their media release email blast list.


So, if you free from 1-6pm this coming Friday, you may want to drop by Takashimaya to check it out.

Something is not right if you still need that cheapo platform after 5 years...

I wanted to say 2 years, but I remembered I was small once too...

But then, I was ikan bilis small, never that itsy bitsy krill small.

I guess that's the advantage of starting my investing/trading journey at age 32?

Unless one is a day trader or trades a lot, come on, there are more important things to worry about than transaction costs!?

Ask your father, uncles, older cousins - how did they survive when our brokerage fees before liberalisation were 1%?

That's right! A round trip would cost us at least 2% - and yet retail contra traders that time can still make money on such trades!?

Of course I would like to pay less for what we buy. But there's a reasonable market price for everything.

If you spot a hawker selling fish ball noodles for $2, at the back of your head, you'll know the fish balls and mee portions would either be much smaller; or the meal would taste so so.

Don't be that clown that pays budget airline prices, but expect SQ level service!

What? Me pour cold water?

Never!

Why I'm a cheerleader! (Just don't look at my hairy legs)

To youth, don't you worry. Just as long you continue to grow your portfolio or trading account, your transaction costs WILL come down. There's such a thing called volume discounts.

Don't you forget why you started this journey in the first place. Don't get distracted. (Why does it sound familiar?) 

Sea turtles and minority investors.

If after 5 years you're still stuck at the beach (a miracle how you survived for so long), you may want to have a 2nd opinion to double confirm you really are a sea turtle?

P.S.  If you're a commercial blogger or hobbyist with aspirations to morph into commercial one day, don't tell people you using that cheapo platform.... (face palm)

Look at your slick "professional" peers. Take picture must include a pool by landed property (no need to own; borrow from friend can); or include a fancy Continental sports car (car rental anyone?)

Must project "success".

How you expect people to follow a krill? (Eyes-roll) 

Buy me a drink I can be your spin doctor. Throw in a meal I'll call you, "Daddy!"

Thinking about retirement planning at 16???

I'll leave out the link to the news source to spare the embarrassment to that young financial planner who said he starting thinking of retirement planning at 16... That's not the intention of this post.

Of course he is talking his own book.

But that's not the way to sell financial planning...


I'll do something different this time. Instead of my usual poking, I'll put on my snake-oil skin back on and do something positive for you young snake-oil wannebes out there.



Financial planning is a vehicle; not a goal

When asked what you want to be when you grew up, hands up how many said you want to be financial planners? Insurance or property agents anyone?

No right?

You are in this line now for one reason and that reason only - to make lots of money!

Not entrepreneurial enough to start your own business, and studies not good enough to get yourself headhunted before you graduate, how else to make big money in double quick time?

Can you see the difference between what you want and how to get there?

Now you know why I cringe each time I hear some snake-oil sell retirement or financial planning as a goal... How newbie can you get?



Holes in our hearts

We all have holes in our hearts. That's euphemism for desires, wants, longings, cravings; etc.

Two ways to fill these holes:

a) To achieve

b) To escape

I was going to give examples but thought otherwise. You fill in the blanks yourself.

Just observe yourself, your peers, your parents, your relatives. See if you can spot who is living to achieve, who is living to escape.

Tip: Don't add value judgements; just observe.


Once you have unlocked this hole, your clients will practically "sell" themselves the products and services you are peddling.

Don't believe?

You and I both know child insurance is the dumbest insurance out there, but once you found a person with a childhood of "lack", they will convince themselves to provide for their children what they couldn't have when they were young...

Just the other day, I read one of the potential Finance Minister to be in a neighbouring country was found out to have "bought" his Phd from a degree mill. Same for some of the CEOs from our listed companies over here. Make a wild guess what's the hole in their hearts?

Our job as snake-oil is not to sell, but help others fill the holes in their hearts.

You think how scam artists work?



Be Jedi or Sith

However, I must caution if stay in this profession long enough, there will come a day where you can't look at your own reflection in the mirror...

Most will chose to be Jedi and do the "Robin Hood" thing. Like selling ILPs (Investment linked policies) to the rich and strong, while selling to the poor and weak term life insurance policies.

If not how to make a living?

Then there are those who have no qualms selling ILPs and other inappropriate products to the poor and weak. And the blackest of these Siths even do their snake oil thing inside places of worship...

"Jesus entered the temple courts and drove out all who were buying and selling there. He overturned the tables of the money changers and the benches of those selling doves."

Something for believers to think about.

What's the point of achieving your own financial freedom and then fxxx-up the end game by ending at the wrong side eternity?

Karma is a bitch!

First Things First - Invest In Yourself

Calm down now.

I can see you are full of excitement with that $20,000 of yours.

Can't wait to put money to work is it?

Come. Sit down here with me.

Have a cup of coffee and a char shao bao. Eat!

Allow me to ask you a few questions... 



1.  Know yourself

Think of a skill or competence, where you can crush most of your peers hands down. It can be a hobby, sports, or what you do at school or work. Anything! 

Why is this so?

Did you have to spend any time and effort securing this skill or competence?

Or was it because of some natural attributes that you were born with?

Maybe a bit of both?


Have you travelled on a packaged group tour before?

If no, take some of the $20,000 and go on one! Enjoy yourself!

If yes, have you planned and taken a DIY tour all by yourself? With no travelling companions? Just you and you alone? 

No? Try it! 

If you really timid kind of person and have never done things alone all by yourself ever, I can recommend Hong Kong or Malaysia. Still cannot? It's OK. Don't force it. But take note of the fears and emotions that's keeping you back.

OK, now that you have both first hand experiences of travelling on a packaged group tour and a DIY solo trip, which one would you prefer for your next trip?

Why?

Interesting... 



2.  Choose your poison


Do you know the common investment vehicles available to retail?

Yes! Oh! You've studied Business Finance at Uni/Poly; and you are very familiar with the different asset classes.

No? 

So of all the asset classes, why you zeroed in to equities only? 

Interesting...

Hey! Who am I to judge what you like what you don't like? Equities it is then.

Are you familiar with Fundamental Analysis and/or Technical Analysis?

Yes! Good, good.

No? Can you tell me why you've chosen equities as your preferred investment vehicle again?

Do you want another char shao bao? Sure? Don't be shy! 



3.  Motivation

Why did you choose your course of study at school?

You heard this course once graduated can earn a lot of money?

No reason? You just interested in the subject matter? You never thought of how you'll get a job or how much the starting pay?

No choice? All other courses you cannot get in. So you just grab what's available...

Your mother told you to do so?

You don't say! 



4.  You buy me lunch?

What? Why so generous?

I haven't given you my expert advice yet!!!

No need?

Want more coffee?

Crowdfunding - These young people sure are enterprising!

Last night, I was invited to a watering hole by a group of young entrepreneurs to immerse in their passion on what they intend to do for the real economy.

You know me, I'll do anything for a drink!

Yup, I'm cheaper than Bataam and some say Desker Road too... I did say I'm a man-whore didn't I?

It turned out to be an interesting evening; it's nice to get out of my home-based dungeon once in a while.

Idiot. I'm the oldest at the table. Once upon a time, when I left school at 16. I was often the youngest at the work place. What happened?

I guess I've to find a moonlit night and a lamp post and start singing "Memories" by Cats. 


Something for everyone - Fundnel

1.  If you have some spare change as in a few Ks to burn, and not averse to taking a bit of calculated risks in your lives (rock climbers, scuba divers, X-treme sports enthusiasts, etc) check it out. If it ain't fun, don't do it! 

2. Life have treated you well in your business/career (accredited investors), and you don't mind giving other budding entrepreneurs a helping hand or two (not the director's couch kind), who knows? You could be involved in the discovery of the next Alibaba? How cool is that!?  

3. You are already an entrepreneur and is seeking alternative avenues to secure funding, just as long you are not adverse to kissing the asses of hundreds, if not thousands of sugar daddies and mommies; feel free to explore further. Yes, do bring a bottle of Listerine along.

4. As for the rest of us bystanders, I would strongly encourage you to scroll down the website to "About Us" and click on the "Management Team" tab.

What do you see?

By the way, the watering hole I was at last night is owned by of them.

Got to love the energy and fire of youth!

My Virgin Cameo Appearance On TV

Last Monday, I was at SMU being interviewed by the producers of Talking Point for 10 minutes.

2 lady producers (sweet!), one sound man and a cameraman.

Once upon a time, I was quite interested in photography, so I was watching intensely how the sound man and the cameraman set up their gigs for this interview. Cool!

This interview was to gather feedback from the public on our immediate reactions on PM's speech on National Day Rally.

It was aired on last Tuesday night live on Talking Point's regular slot.

For those of you who missed the 47 minutes show, you can click on the pic below.

I cameo appeared on: 1:02; 17:38, and 34:03.  (Just saying...What? Me ego? Never! LOL!)

There's a thin red line that linked all my questions.

With our bias, vested interests, self-interests, we see what we want to see, hear what we want to hear.

Some will be disgusted, some will be elated. 

Just make a wild guess why I made this post now, and not strike when the iron is hot last week?




P.S.  Having a stake in Singapore can be more important and priority for those who are seeking financial independence.

Something to think about when more than 70% of those who invested in equities (including unit trusts) with CPF would have done better if they had left their money in CPF...  

Of course you are smarter and different, no high cost unit trusts for you you say. Well, some reality check for those who bought STI ETF and DIY stocks recently. 

I challenge everyone to find anyone who "lost' money buying a HDB flat directly from HDB.

OK, you're a high flyer and you don't qualify for HDB BTO. Just imagine buying your private apartment for 100K lower than your neighbours. Multiply this 100K with the bank interests you'll be paying for 20 years. 

There you go! 

Being "lucky" for our first humble abode can shave years off on your journey to financial independence.

So when people ask me eagerly how to start their journey of investment, I always ask, "Do you have a place of your own?"  

(Property agents and those in property education, you owe me a drink)

How to put a spin that majority of CPF investors lost money!

First things first.

I did not say it. Official media says so:

Wish you had transferred that excess money to SA, didn't you?

That means only 15% of CPF investors have earned the right to KPKB at Hong Lim Park?

Walk down memory lane (Context and Perspective)

1 May 1986 : Approved Investment Scheme (AIS) introduced. Members are allowed to use up to 40 percent of their CPF savings to buy gold, shares, unit trusts and stocks.

1 Oct 1993 : The Basic Investment Scheme (BIS) and the Enhanced Investment Scheme (EIS) were introduced to replace the Approved Investment Scheme. Members are allowed to set aside a higher portion of their CPF savings (80 percent) for approved investments.

1 Jan 1997 : The Basic Investment Scheme (BIS) and the Enhanced Investment Scheme (EIS) were merged to form the CPF Investment Scheme (CPFIS).


If I'm a Property agent...

To clients who vacillate between investing in properties or equities, I'll ask them to verify with their peers, parents, etc; this simple question:

For each CPF dollar spent on their HDB or private properties, compare it with their equivalent CPF dollar performance they had "invested" under the various AIS, EIS, CPFIS schemes.  

The statistical odds are on my side. Wink.


If I'm a Remisier...

1986 till today, how many years do we need before it's considered "long term" investing?

OK, if we want to split hairs, we throw out AIS and EIS. We only consider CPIS.

1997? Isn't that the Asian Financial Crisis? Starting at the low doesn't help after 18 years?

We just had a 6 years bull market since March 2009. I would have thought there's more tail wind support!?

What happen to the fabled equities will likely "grow" 8% per year mantra? 

Look, if more retail clients stick with buy and hold or switch to passive indexing, I'll go in the way of the dodo birds too...

Now its the time to "educate" my clients on how to be nimble!

Avoid using words like trading or speculating. Some clients have a Pavlov revulsion to these words. Yes, nimble is a good word. While I'm at it, I'll slip in the art of "shorting". I'll just call it - "Flying with both wings". I'm good or what?

Just as long my clients do the nimble dance, the sun will not set on me yet. Not during my watch anyway!


If I'm an Insurance agent

Buy term invest the rest?

Just as long the Wholelife and Endowment policies I'm touting outperform the CPF 2.5% interest, I'm good to go! 

I'll avoid ILPs though as they will likely come back to bite me... Repeat business and referrals are my life blood. One time carrot-head chopping deals are more for Sim Lim snake oils... I'll pass. Thank you very much!


If I'm into Personal Finance education

I must get a hold on the name list of those 85% who under performs the "low" CPF hurdle rate of 2.5% interest!!!


Buy me a drink?

Anyone interested to hire a 2nd rate has-been snake oil like me on a freelance consultancy basis?

Don't worry. My fees are cheaper than foreign talents (or non talents).

Just buy me a drink and I'll sing for you like a canary!

Let's sell ice to Eskimos!
 

An evening with AK's first chit-chat session

I just attended AK's first chit-chat session held at the International Plaza this evening.

Took 1/2 day off from work and went there early around 4:30 pm to reminisce and see how much of Anson I can remember. It's been more than 30 years now...

I spent 4 carefree years (1980-1983) at Gan Eng Seng School during my secondary school days when our campus was located at Anson - just next to International Plaza.

Now I see the old school campus has been replaced by Mapletree Anson and ICON Anson. What a gold mine our school was sitting on!

So much has changed! Thank goodness the Tanjong Pagar food centre is still around, albeit renovated and most of the old stalls are gone... Hello! It's been 30 years!!!

Very happy the City God temple is still around and untouched. That's where our back school gate was located and I still have fond memories of buying "black char-guay" from the push cart hawker uncle there - it was the chunky version where we can eat with tooth-picks. 

Opps! I think I have the same disease as AK -  we both can go off tangent when we talk... LOL!

 
I would recommend those of you who are regular readers of AK's blog to attend future sessions of his. 

But don't go if all you want is to find out what stocks AK is buying... You won't hear anything new that's not already written in his blog.

Go instead to find out more about AK as a person. To seek verification; or to kick the tyre so to speak. 

Is AK in person the same as he is when he blogs? Does he walk the talk? Use your 6th sense - are you comfortable meeting him in person? Trust your instincts.

OK, not so easy when AK is wearing his Ip Man and Blues Brothers cosplay outfit - without seeing his facial expressions and eyes, can be hard for me too!

Thankfully, AK is a "performer". Trust me, you won't get bored; you'll be entertained. AK is funny!   

The real test of this evening's encounter is - if you have a daughter or sister, and she brings AK home as her boyfriend, would you cringe or would you go "Hey, good catch!"


Why am I focusing on the personality aspect of meeting AK live in person? 

Go ask your mother or grandma why they like to poke the fish when they go to the supermarkets?

I totally bombed in my public speaking yesterday... I'm still alive today!

Well, my Zebra story totally fell flat yesterday afternoon....

As I walked off the stage to a totally stunned, bemused, catch-no-ball audience, you can hear the crickets creaking... 

Awkward to say the least!


You know what I learnt?

It's one thing to write cryptic stories and use obscure metaphors in print, it's another ball game altogether when you tell that same story LIVE in person to an audience who can give you immediate feedback through their body language... 

I should have wore a blindfold.

Well, at least I didn't get booed off the stage! How's that for looking at the bright side of things!?

I'm a cheerleader remember?


I had fun! Not the kind I expected, but it was still fun! 

It's been quite some time since I felt so inept, so totally "blur like sotong", so utterly and completely stupid in front of so many people...

It's fun to laugh at myself once in a while. It's good reminder not to take myself too seriously.
  


Friends introducing friends

B, 15HWW, and EY were there. It was the first time I met B so here's looking at you kid!

I was like playing the role of mama-san:

"John! So nice to see you again! Do you know Peter is here? You must meet him! Come dear! I'll introduce him to you!

Peter, this is John; John, this is Peter.

Have fun boys!"



Never meet your Nemesis up close

I regretted so much that I finally met up with the fisherman.

I was so hoping he got a 超及白 face so I can continue to poke him at will. He deserved it what?

But why oh why!!!

Why must you turn out to be a refined gentleman!? 

And have that friendly uncle next door personality!?
  
This is not making it easy for me... How to poke you in future?

I don't care! 

We must continue to push each other to our intellectual limits! 

Cannot because I've become Oliver Twist standing next to you that you go easy on me OK?

Don't treat me with kid's gloves.



Someone anonymous; someone interesting

After the seminar, I saw a couple remaining at the auditorium.

Like I normally do when I travel, I just went up to say hello to complete strangers.

And I'm glad I did!

The man turned out to be a blogger and he hinted that I've commented at his blog and he did likewise over here. 

But he wishes to be anonymous - not wishing to reveal his name or his blog.

I respect that.

We had quite an interesting conversation even though the time spent was short. 

He's a man of leisure too, and writes for the pleasure of it. Not those who writes for world peace or to build up a side business ;)

After our conversation, I immediately put a stop when my mind tried to CSI who is this blogger. 

I believe in 因缘 (karma). 

Let things take their natural cause. If he is ready to say hello to me without the mask of anonymity, he will.



Making lemonade from lemons

See? Despite a fall, there's always something good that comes out of it.

Would this have happened if I had stayed in the comfort of my home and planning how to improve my public speaking?

Just go out and do it!

Crash got sound one!

Or in this case - total silence...

LOL!