.

I will have to take this down if I am hit by copyright rules. But I think I will like to share with you guys some thoughts. It was via a email a friend had sent me. Thanks!

Please do ask me personally who wrote this book (actually it’s pretty obvious), cause I don’t want to write his name down here, for some reasons.

Enjoy…

Chapter 24- Money, Money, Money

There are numerous books, magazines and other printed material by a myriad of financial planners, analysts and economists that give advice about how one can get rich.

If money could be gained by just reading up, all of us should be successful, very rich, moderately rich or at least somewhat rich. There would be no poor souls in Singapore or in any country.

The truth however, is that there is no such thing as a “certainty” in making money. The outcome depends on each individual. You take leach lesson and advice given according to your own free will and at your own risk. In the final analysis, it is your money, not the money of the financial advisors.

It is true that a good foundation of finance, economics and business administration should be of some advantage. I have none of those diplomas or degrees to help me have a good life and a comfortable retirement. I listen to advice, some good and some bad ones, read up where I deem necessary and, in the end, depend entirely on my own intuition.

So, if I fail miserably, I do not have anyone to blame, and if I succeed, I can pat myself on the back.

One gets on the hard path that leads to success or failure when one receives one’s first pay packet or earns the first dollar from a business.

In my case, I failed miserably in several ventures. My first attempt was soon after World War II. Together with an Australian journalist, two friends and I put in some money in a company to import Australian beverages and cosmetics. Most of the retail shops took our goods on consignment. We fell into a hopeless pit.

The second venture saw 14 of us agreeing to contribute equal capital to open a top-quality provision shop along Cross Street – the wrong place for a shop of this standard. In less than a year, it flopped. Then, to our horror, we learned that only two of the shareholders had paid up the capital sum: my friend (whose daughter was later to marry my son), and I. We pleaded with the other 12 to put in their shares to allow the two of us to recoup, but we ran into typical hypocrisy: “Of course we shall meet our commitments, but we are tight with money now and will pay up in due course.” Yes, indeed. We did not see one red cent.

Third venture. Four of us put in a large sum of capital to start a factory producing cooking oil from copra in a sprawling compound in Balestier Road. A Chinese businessman had been recommended to us as not only being an expert in oil processing, but also a very honest man. He was so downright “honest” that when he saw the writing on the wall he took whatever was left in the kitty and went on to do illegal opium trading, smuggling the drug between Johore and Singapore.

At the end of this third failed venture, I finally decided that enough was enough. I had no more money to risk in another business and I had by then five children and a wife to feed. I concluded that my lot was to work for others for a living.

Concurrent with these business ventures, I was working for The Straits Times. I had joined the paper in 1930, when the world was in the throes of a slump, drawing $30 a month in a clerical job.

When I retired on 1st September 1993, my monthly gross income was around $50,000/month as Head of State (slightly over $30,000 after taxes).

Along the way I scrimped and saved for that Retirement Day with no input from professional financial planners. When the day arrived, I had to take a very hard look at my position- to figure out how long or short my savings would last.

Savings can be eroded by inflation, deflation, loss through investments and other pitfalls. This is where luck and timing become all-important.

Based on my simple philosophy of contentment, I would say that I am contented that a) I can still go on living on my own funds; b) I do not owe banks or any other institution or person one cent; c) I am living a full life, not necessarily lavish or luxurious- three square meals, a roof over my head and with all the simple amenities that I need to keep me occupied.

It was truly a hard grind from the start till now, but it has been very interesting and fulfilling. There have been a few failures, a few aims that I had not been able to achieve, but who can truthfully say that he has achieved all his targets at the end of the road?

If I believe that I have done fairly well, I would not attribute it to my own initiatives or creative ideas and planning. I would say it was a combination of carefulness, prudence, frugality and, above all, timing and luck.

My retirement story may not be the same as most other people. I retired on three separate occasions. The first time from journalism at 58, the second from diplomatic service at 69 and finally, as Head of State at 78. On hindsight, if I had retired completely at 58, I would definitely have found myself in the drain before I was 69, let alone 78. What I had in my savings in 1973 would not have carried me through 10 years.

Again, what I had in 1984 at the end of my diplomatic career would still not carry me through till today.

From this, it is clear that I have been lucky that I was pushed into another phase that carried me forward.

As for timing, if I had not decided to retire from journalism I could have missed the diplomatic posting to Malaysia. Again, if I had remained in Tokyo at my post in 1984 and had not returned to Singapore, I am not sure if my name could have been included in the list of candidates for the vacant post at the Istana.

In all three instances I was at the right place and the right time. Hence, I am convinced that in one’s life the two all important elements are luck and timing.

I learned the hard way when managing my small savings early in my working life. I sent my son to Sydney for his university education at a time when I could ill afford to meet his full expenses. On hindsight, it was quite a frightful experience. Every dollar earned was counted upon.

At that time, I met a journalist at a lunch hosted by an officer from the Australian High Commission. The conversation drifted to investments and he told me he had put his meagre savings into an investment corporation in Sydney paying 10% interest per annum and the interest earnt was paid to investors quarterly. Without any hesitation I put in what I could, something in the region of A$10,000, a fairly tidy sum at the time. The cheques for interest earned came in on time each quarter and the money was remitted to my son for his expenses in Sydney. I thought I had made a good deal until I met the chairman of OCBC, at a lunch. Mr Tan asked if I had put any savings into investments. I told him. An astute banker that he was, he could not hide his surprise when I said proudly that the investment corporation was as sound as the “Rock of Gibraltar”.

Having heard me through, Mr Tan advised me to withdraw my investment immediately before I got hurt badly. He was surprised when I hummed and hawed. Then he explained that the Reserve Bank of Australia was then offering 5 – 5.25% per annum. Why would the investment corporation take deposits and pay 10% when they could could have walked into any bank in Sydney and get loans at half the interest rate?

That brought me down to earth like a ripe jackfruit. So, my investment was not as solid as a rock. It was a very serious matter. I agonised for two or three days and came to the conclusion I should take Mr Tan’s advice. I dispatched a letter to the investment corporation and gave notice (three months according to the terms under which I had put my money). In less than a month, I was hit by a ton of bricks when it was announced that the corporation had went into receivership. It took me 5 years to salvage, in dribs and drabs, 25% of my investment.

It was a blow that I did not recover for a long time. Yet, there is a silver lining to this incident. I learnt not to be greedy for a higher interest when the investments are not in banks and institutions with solid foundations.

Being frugal is another important element to planning for retirement. Of equal importance is the discipline not to spend merrily on loans, hire-purchase and other credit facilities. I am inclined to believe that in developed countries, including Singapore, a very large number of its people are committed to work throughout their lives to pay off loans. A BBC documentary aired in April 2003 supported this by making it clear that we are in the midst of a global pension crisis.

The day of reckoning must come. And when it does, it will be too late to regret.

I have found at this time of world financial crisis, that the best lesson I have learnt in my entire life is not to be in debt. As the saying goes, “You cut your suit according to the length of the cloth.” So I live within my means.

We certainly need money to live, even if not lavishly and luxuriously, but to work our backs off to earn the extra dollar so that we can live in high style seems rather unnecessary.

We have not come to this planet merely to work, slave, sacrifice and suffer and then take leave. At some point of time in one’s life, it is important to seek quality life. And quality life is not about chasing the Almighty Dollar, but finding contentment.

Today is Tuesday

Got so many stuffs to write about but I’ll try to keep it short and say whatever that comes to my mind now.

I have realise a trend amongst my peers. If it wasnt for so many people complaining to me, I wouldnt have even bothered to write it down here to remember. A lot and I meant like 70% of people in my msn list have a nick which is something like this ”I hate my job” ”i want to change job” ”my job sucks”.

The only thing i can say is. Bear with it. All jobs sucks. The common reasons i get are, my boss sucks, my pay very little, my workload a lot. Actually my 2 cents is, we guys jobs still can handle. I’ve seen those really busy people, their mails is like lian huan come in. I doubt they read all cause for mine, sometimes i don’t read all too hahaha.

And no one’s boss is good, because why will he care about you. Most importantly for him is the company make a profit. It’s really as simple as that. If you want a boss whom takes care of you like a baby, I guess you get a better chance in a child care center.

Pay wise, initially might be little. But i always believe that in the long run you will be paid what you deserve. Thus, if because of a lousy pay, your work is sub-standard then all i can say is that forever u will get this lousy pay. There is no such thing as, ”when my pay is high then i work hard”. If this theory holds then only when Bramble plays for Man United he will lift his game? Bullshit right, it is only when he plays super well then Man United will spot him and employ him. If your pay sucks now, work harder and show them what you are worth. Of course do not be taken advantage of, if you are a talent, i always believe someone will appreciate you sooner or later.

I have always promise myself that if i am down, i will work even harder to get up. I think that’s 1 of the best judgement of a person’s character.

Ok next, about the chalet we will be having. The planning is reaching about 2nd gear. Which is a good thing. Happy to see everyone putting whatever effort they have. Remember guys, planning is 1 thing, co-ordinating is another. So hopefully we step up a little on co-ordination.

I have nothing to say except that i guess its time to get a blackberry with the constant complaints. Problem is , I don’t want to. How funny life is, Hx’s friends all dying to get the blackberry when they don’t really need one, while by right i need 1 but i absolutely don’t want it. I think this is what they call the tensions of opposites. Interesting.

My Sister

After Hx told me to write about her, this somehow gave me an idea. I will blog about everyone close to me. And at this moment in time, how they are, at least in my view. Next up, my sister – Sherry.

My sister, short, small breasted, long hair, tattooed, sharp nose (what the hell happen to mine), pretty. I forgot to add that skinny is her middle name. If you thought Huixin like to talk, meet my sister. She can talk talk talk until the straight pole get bended. A waste she could get her y=mx+c right, if not i bet she would become a competant lawyer.

There are 2 sides to my sister. The ”knnccb dont come fuck with me cause today i bad mood” side. And the ”aiya come i help u do facial today for free” side. See which door you’re knocking. Pray to God if its the former. Imagine scolding your principal ”fuck you” during secondary school days, beat that gangsters! But jokes aside this is nothing to be proud of. I guess in some ways she regret never studying. And I will be the first to raise my hand that I have been a selfish brother. Cause in some ways as an older brother I should have guided her along while she waivered to the dark side. But hey, cut me some slack man, she was fiercer than me, wtf could I have done hahaha.

During secondary school days she was 1 hell of a terror. I guess those who have seen her grown up have to agree she have totally change as a person. Gone is the devil may care attitude. After her child is born, I would say she have grown to become more responsible. In some ways, she have come to understand that doing stuffs which in my dictionary is ”bo liao” doesnt help to feed the mouth of the family.

The greatest accolade I could give my sister is that she is damn steady. As in she dont say it, but at the end of the day nothing is thicker than blood.

But amidst all praises that I have thrown, I would also like to send a message via my blog to her. Learn to be a tad more responsible, how you are is how your kid will learn to be. If you don’t have time for your kid because of work, make time. There is no excuse. Toys doesnt buy love, quality time spend together is what breeds a happy family. Secondly, be a bit more patient before losing your temper. Not all things will go your way, there are numerous characters in this world, learn to be patient. In short, control your temper.

To be fair, in our family, I guess in some ways I am luckier. To put it more bluntly it is because i got kuku bird. So my grandma loves me more blah blah. My sister gets most of the shit. So in that part I guess it is hard on her during younger days while i was happily bullying her. But I guess as we grow older, this gets lesser and lesser. So i hope it does not affect you anymore.

Ok I have nothing much to say but hope that my sister will become a better person and further her studies too. Because the best investment have always been knowledge.

”The family is a haven in a heartless world.”

BFF

This is a special request from one of my ardent fans. And since I am known not to discriminate against ugly/pretty/fat/short/tall/small/big/long, i will accede to the request. We all know what happens when you reject something spoken from the mouth of the north – Huixin.

I was told to write about her, which I think that, a blog entry would be deem unfair to her. But still here goes…

A petite and pint size girl. Short hair. Sometimes wear glasses, sometimes she don’t. Likes to whine a lot. Likes to speak at an ultra fast speed whereby only people whom have known her long enough will be abletocatcheverysinglewordthatshehavesaid.

But as the saying goes, every book have 2 sides, every fence and each end, every magnet have 2 poles (ok this don’t make sense). In the spunky young girl that you see everyday, I would say she is first and foremost intelligent. I don’t use this word on many people, I guess only a special few have be dubbed intelligent by me. It’s not to difficult to know that she is intelligent from the way she works. From being an executive to m-a-n-a-g-e-r now. I would not say it is an easy feat. Some people whom i know have work for a far longer time but does not command what she does now. Of course we don’t judge people by how much they earn, but at least in my book of judgement, i tend to look at monetary more often than not. Still its my blog, so haters please log off (Peter Chao LOL).

But working intelligently at work does not always relate to real life. I guess in part it’s because of her bf. In some ways her bf allows her be how she is, and after a certain period of them it will be like ”normal”. I wouldnt go as far as saying it is wrong, but still, i feel can be better. But if it works for her bf, then hell yeah, it works for us. All in all, as Hx is our first degree friend, i would have to say, since she is treated well by her bf, we should be happy for her. Think about it, if she had a violent bf, would u be more worried? But in any case, she have not done anything to make me feel that she warrants an immediate red card.

To rewind it a little, during secondary school days, i use to talk to her a lot on the phone. It was really like a lot. I don’t remember how we started talking on the phone but I guess Randy talks to anyone who doesnt have the male anatomy. I still remembered it is actually the same as present, i will always bug her to introduce girls to me. And if my memory didnt fail me, she introduced a lady from YTSS. As you can see, her lousy track record started since secondary school days.

There is something which I am concern about. It is the way she is concern to how other people see her. I have realise a few times she is always worried about how people view her. This is how I view other people’s 2 cents on me. If it is constructive, I will listen, absorb and change. If it is non constructive from someone whom have a narrow heart, I will listen and flush it off. Of course in the midst of the above, there will be questions and answers. But I will not take it too harshly. I will only take comments very seriously from 3 types of life form, 1) My family 2) My close friends 3) God. I guess this is only because these are the life forms whom I cherish and feel are important. It’s like, we actually live for our family and close friends don’t we. So Miss Tai, learn to realise that you can’t please everyone in the room. Just be yourself, as I always say, it’s lonely at the top.

There is more to talk about. As I have said a blog entry is not enough to compile all that must be said. If anyone else want to know more about her, give me a call =)

”Friends ask why you are crying, best friends already have the shovel ready to bury the loser who made you cry.”

Left ah left ah left right!!

As many of you guys know, im currently in reservist. There are a few school of thoughts regarding reservist, some say that’s it’s a good break from work, while some say it’s a waste of time. Some people say that it brushes up your knowledge on the things you use to do in the army, so come war time you will be prepared. I use to be a storeman during the army, during reservist im still a storeman but I beg to differ on it brushing up my skills. In fact I have nothing much to do. But i guess it’s the same problem in all big communities or companies, whereby there is a lot of money ”wasted”. Still it is a refreshing break from work, though i still get a number of calls a day. But i guess it’s part and parcel of the job, so we just live with it lah!

For store side there are 4 reservist people called up. 1 of them, so far i have not seen him yet, dunno where he gone to too. The other 3 is me, 1 chinese guy and 1 malay guy. What’s interesting is about the malay guy, his name is Masrezwan Mastari. Strikes a chord with any of you? Yes, he use to be the woodlands wellington player whom was touted to be the next Fandi Ahmad. This was the conversation in the morning of the first day:-

Me: Brudder, what you working as man?

Mas: Oh im a soccer player.

Me: Oh you mean as in S League professional?

Mas: Yah, I play for Geylang.

Me: Oh ok, first team or not? (having some doubts…).

Mas: Yah first team.

Me: Position?

Mas: Striker lah bro.

Me: You got play for national team?

Mas: Yah use to, second tiger cup got play. Now just injured come back.

Me: (having serious doubts). Oh ok.

So I thought he was some fringe player lah, that kanna call up now and then. Also not famous, so I also didnt really ask a lot. But in the afternoon I had another conversation with him.

Me: So how s league how?

Mas: Next week got game lah brother.

Me: Eh you say you play tiger cup right, then how, win already shiok or not?

Mas: Yah not bad lah.

Me: Eh national team you first team huh?

Mas: On off lah, got play.

*Randy beginning to look at his army name tag*

Me: Eh bro you say what your name huh? You said ask me call you ”Mas” huh, what your last name?

Mas: Mustari

Me: KNNCB i know who you are lah!!

So that’s what started the furore of questions. I remember when he was younger, i read of him in papers many times. During his time at Woodlands, every papers had said how good he was. That he had a good touch, good speed, good turn and was touted to be the next Fandi. But after a few years, only seen him on the papers on and off. Sometimes when i read about him, i still remember him as the young verry good player who was sort of super sub for Singapore. Now he is 28, nearing the end of his career. Of course our conversation as promoised is confidential between me and him, and as he is sort of a public figure, i guess i ought to respect that. What i will like to comment is, there are many people in general whom are very talented in what they do. But since we are on the topic of soccer, what i can say is, many young players with a lot of talent waste their life away. Most of them sign professional papers at the young age of about 22. Usually, most of them come from poor families and then suddenly handling a huge amount of 3-4k they start to splurge. If say you graduated and then you got a job, I think it is still ok. As in a way, you die die will still be able to find job. But what about soccer players, how long is their career span?? 15 years tops?

I talk to Mas, it’s good to hear that he hopes to further his career as in coaching. Which i think it’s good. Of course football crazy people like me bug him on a lot of stories and questions about being a professional. I would say i enjoyed my chat with this humble professional soccer player. And oh yah, he is a Manchester United fan wahahaha. So we click quite fast too.

As usual, reservist have led my life to sort of slow down. But still I have to work work work. Sometimes work take a toll on me. Whereby I don’t have much time to do other stuffs. But i guess everyone is the same. As in everyone is busy. It’s quite difficult to say ask Chenghang out for coffee. Its not as easy as it use to be. Hopefully we will find time to have a gathering once a week or once bi weekly.

Recently there are a few big news. News on ”recovery of the economy”. News on the IR. News on the pledge. In my opinion, have the economy recovered? NO. What’s the key to a companies survival? For me it’s cash flow. Are banks willing to lend like they use to? NO. Are banks able to sell us those funny funny products and make huge profits from ”handling” fees (wtf is that anyways)? NO. So it’s a cycle. I think if we going to take a short cut to cure this recession, then we will be in for a harder time in 3 years time. I feel we should let the recession flow, recover it in the right way. Get back to basics, let people gain confidence in banks, in investments. Attract investors, tourists. Don’t just keep pumping in money. News on the IR? Its opening soon, all i got to say is, I’m proud we will have a major attraction, but i hope the money earn from the casinos are pump right back into Singapore and not slither away to other countries. Create jobs, grow, create more jobs, do charity blah blah. It can only get better. The pledge? I for one am proud to say i can recite the whole pledge. I’m proud to be a Singaporean, this country is safe, provides me with housing, provides me with a job but most importantly it is where my family and friends are. God bless us.

Ok, going to meet Youjun soon to pass him my black leather shoes for his interview, I hope the shoes bring him luck, it didnt bring me much luck with regards to girls though wahahaha!

You Should So Die

I realise in many people we meet everyday, some are very genuine people while some are very pretentious. But generally I am going to post about 1 type of person. And that is genuinely fark up. And im convince the world is screwed, people don’t see inner beauty, just the outer beauty.

I have 2 girl friends. 1 is genuinely fark up, the other is like genuinely nice. Let’s call the fark up person farker (she fits in like a T), and the nice person we’ll just call her nice.

Ok farker is like this. Her character is, she is intelligent, average looking (in fact in my opinion, she’s not pretty lah). Her bad points are many, she doesn’t care for people’s feelings, she have narrow heart as in cannot see people good, and she is super not helpful. In short she only cares about herself and herself only. And everything she has is the best. She will find reason is say it is the best. But that I can accept, thing is she is so bloody not helpful u just hope she seriously die. Ok my bloods boiling as i write this so pardon my crudeness. Like seriously, what does guys even like her, she really have a character dysfuction. Just tell u a small incident. I told her to bring someone to lunch as he is new. She said no like why should i. Its like what the FUCK, people’s is new and lost. And i have brought him like twice, and today i have got errands to run. So why cant u just think of other people’s feelings and accompany him for 1 mutha farking day. It’s ok, i guess what comes around goes around.  Having such an unbelievable selfish character, sometimes, i doubt the upbringing.

Nice is different, she is absolutely nice. Problem is, she’s not very pretty. So to cut a long story short, she doesn’t have a bf before. Don’t ask me why i don’t chase her, because we just don’t click. Its just as simple as that.

Ok that’s all, just go screw yourself u asshole.