Review of January 2010

January has been a challenging month for me.

It marked the start of the new year 2010 and the deep realisation that I was nowhere closer to any of my goals that I have set out in life. A look at my resolutions which I have made earlier was also sorrowful as I did not accomplish much.

Beginning the New Year With Resolutions

I thus started out to mark down an entire set of financial resolutions which I hoped to achieve in this year. After watching the Millionaire Mind Intensive, I decided to add a zero behind each financial goal I had. You can view my financial resolutions for 2010 right here. Some people called me CRAZY and DREAMER. But hey, it is always good to have some dreams =)

I Gave Out Some Tips With Respect to Blogging

I gave out my very own personal tips on some aspects of blogging. It has worked for me to a certain extent and I hope that it works for you too. If I could summarize it in MusicWhiz's words: Add Value to Your Readers

1. Blogging Tips: What I Learnt From A trip to Holland Village

2. Blogging To Financial Freedom

And I Shared some Hot Stock Picks and Bubbles.....

Some people feel that the STI will hit 3,500 by end of 2010. IF I knew, I would be rich. January has also been a bad trading month as I got into Capitaland at a high of $4.43. It is now trading close to $4.00

The conclusion of the matter was that the easy money had already been made and we should be very selective in our stock pickings for 2010 as we will not see a broad based rally. What worried me was that Singaporeans were keen to invest again. Uncles, Aunties, newspapers were all giving Buy, Buy, Buy calls. Perhaps its time to say Bye Bye Bye to the stock market this year.

1. Hot Stock Picks for 2010 (Smoking Hot indeed! Compiled from the best analysts)

2. 3 Bubbles to Watch Out For

I still Need Advice

Yes, at the end of January 2010, I am still as clueless as ever about my job hunt and my trading skills which are close to non-functional.

My job hunt still revolves around me thinking whether I should grab any job that comes along or whether there is such a thing as a dream job (blogging perhaps?)

My trades for the month of January 2010 was also quite forgettable. Perhaps I am trying to purge all the bad memories. I am quite bad at timing Mr Market it seems.

.

.

.

.

.

.

.

.

.

.

.

.

.

It's just a cute bear sitting on the road in Russia when I was travelling.

Time to get drunk in Russia Again?

Pre-Nursery in Singapore

I went down to a kindergarden today to do some recce for my child's education.

I found that the facilities were not bad and has vastly improved since my childhood days. There were music rooms, computer rooms and even playgrounds.

However, I realised that the waiting list was very long as there were only a few vacancies.

The cost is also around $700++ for 10 weeks. That would easily add up to $3000 in a single year just for attending a 3 hr per day pre nursery.

I am not sure what to make out of all this. Is it too expensive?

Wouldn't there be economies of scale if the government did some central planning and provide education for pre-nursery students onwards? This would make the education system much fairer.

I compared a few kindergardens and I must say that the quality of the teachers and facilities vary greatly. This means that different kids are exposed to very different environments from a very young age. Surely this will have a great impact on them and their future formal education which starts at Primary 1?

Saving for My Child's Education

As most of you know by now, I have started a POSB Kids Savings account for my child.

The main purpose of this account is to save for his university education. This account also allows me to deposit all my spare coins at no charges.

The figure that I am aiming for is S$100,000. Yes, it might not be enough for an overseas education in 20 years time but I guess it is better than nothing.

Having been deprived of the chance to study overseas because of the lack of money (alas, and also the lack of good grades to get a scholarship), I always felt that I was "disadvantaged" in a certain sense because I did not get to study abroad.

My SAT score then was 1390. Not very high but sufficient to get me a place into universities like Brown University and University College of London (I can't remember what were the other universities that I applied to). However, the lack of funding made me decide to pursue a local university education instead.

This is something that I do not wish my child to face. I hope to be able to have the financial capacity to put him through his studies overseas if he is able to make it into any university there.

I have seen so many people who have gotten worse grades than me but have been able to pursue an overseas education at quite reputable universities because they have the financial means. Is this fair? Nope. But this is life, and life isn't fair sometimes. It also won't be fair when I become a millionaire faster than them even though I don't have the same qualifications as them =)

My child, if you read this someday...know that Daddy is saving up hard for your education. I am doing my best yah?

$1375 and counting...everyday, I drop all my spare change into a little container which I will then deposit into his university fund. I wish I had started saving for it earlier.

Work or Further My Studies

I have been thinking whether I should work or further my studies.

The thought of being able to pack my bags and go to some far off country to study always excites me. However, it simply does not make financial sense and the allowance will be too little for my family to survive.

I was thinking whether I stood any chance for getting one of those A*STAR scholarships.

Anyone has any idea how difficult it is to get in. I only have a 2nd uppers.

POSB Coin Deposit Machine

I managed to use the POSB coin deposit machine at Tiong Bahru Plaza yesterday.

It was the first time that I was using the machine and I must say that it was pretty easy to use.

The screen is a touch screen and you basically just need the account number (don't need the ATM card of passbook!)

All you do is key in the account number, pour the coins into the tray and lift it up. The machine starts counting the coins and rejects those that are not Singapore coins.

Since the account I was depositing into was a POSBKids account, the charges would be waived if I dropped the receipt into the quick cheque deposit box at the branch itself.

This was pretty quick and hassle free. A service that I would certainly use again!

Job Hunt Exercise

Many times, we ask ourselves whether we are in the correct job.

Fret not, I have been in that situation many times.

After reading a book on searching for one's dream job, I discovered that the perfect job hunt actually entails discovering about who YOU are as a person and not so much about discovering that DREAM JOB.

So here are some simple exercises that you can take to discover who you really are and from this exercise, you will be better able to identify which jobs are likely to suit you.

Exercise #1 - Identify Your Favorite Skill

Just list them down in order of priority. Seven favorite skills would be a good number.

To make it even easier, skills can be broken down into 3 categories: People, Information and Things.

Some people prefer exercising skills on people. This include communicating, negotiating, presenting, mentoring, supervising, etc.

Some people are more comfortable with information. They like to read, write, analyse, compare.

Some people are good with things. They can fix cars, they know how to fix computers, etc

List down your favorite skills in order. From these 3 data sets (People, Information and Things), you are likely to find that your favorite skills perhaps revolve around one of these data sets. For me, I love to deal with information. I like to read, analyse and write.

Exercise #2 - Find Your Favorite Field.

While you might like to read and write and analyse data, this is only the beginning of identifying what job out there suits you. The problem is that there are SO MANY jobs out there that deals with reading and writing and stuff.

The key then is to find out what is your favorite field defined by your favorite interests. If you can't think of any field or favorite interests, look at the books you read; or the websites you surf; or the conversations you most enjoy getting into. What do these topics revolve around?

To make it easier for you, if you were going to spend the rest of your life on a deserted island with somebody, what topics or knowledge do you hope to be able to converse with that person about? Is it theology? Is it philosophy? Is it money?

Zoom into what you really like to do. Don't be bounded by social conventions or what people think you like to do because of what you have studied in school.

To give an example, a person might have the favorite skill of analysing information and the best field he enjoys to practice this skill would be in the field of finance.

I love analysing information but certainly not in the field of cooking or sewing... so you get the gist.

Exercise #3 - Geography (Country or City)

Most people have probably spent their entire life in a certain country or city. However, just because you stay there does not mean that your dream job can be found there. Sometimes, your dream job could be located in another country or city.

Afterall, where you choose to use your favorite skills in your favorite fields also has to coincide with your favorite location.

If you hate hot weather, you will not get much joy employing your favorite skills in your favorite field in Sunny Singapore.

So make a list of all the places you have lived before or stayed at. What do you like about it? What do you hate about it?

Now translate all the "hate" items into things that are positive.

For example, I hate the fast pace of life in Singapore. But the positive side of it is that because life is so fast pace, things are very efficient down here.

This list of likes will then form a picture of the ideal location where you should be exercising your favorite skill in your favorite field.

For me, the things I look for in a good location are these:


1. Good Food
2. Politically Stable
3. Safe for my family
4. Efficient
5. Scenery
6. Peaceful

All these should give you an idea of the ideal location your dream job can be located at.



Exercise #4 - In an Environment filled with...



Who are the people you would love to work with?

Do you prefer sociable people or analytical people?

Do you want them to speak English or Chinese?

Do you want them to be task focused or people focused?

Of course, in every office environment, you will most probably find a mix of all types of people.

However, if you know that you are more comfortable around males who speak English and who are all analytical people, you certainly would not be comfortable in a totally female environment who speaks Mandarin and are all just sociable people. I hope you get the gist.

Finding out who you are comfortable with has a large part to do with your job hunt. After all, if you don't fit in, you will be spending large amounts of your waking hours with people that you can't get along with.

Exercise #5 Your Favorite Values

Your values are what you hope to be remembered for.

Just imagine that you are attending your own funeral. What are the things that you hope people remember you for?

Do you hope to be remembered for being a good contributor to the country?

Do you hope to be remembered for your gentle laughter and your kind words?

Do you hope to be remembered for your great wealth and the things that you have acquired?

Do you hope to be remembered because you made a difference in people's lives?

Or do you wish to be remembered as somebody who was prominent in your field of work?

Everyone has different values. Don't let others judge your values. Your values are what you truly value in life. And your dream job should help you accomplish those values to a certain extent.

Exercise #6 - At What Salary and What Level of Responsibility

Find out what is the minimum amount of salary you can survive on. This will form the minimum base salary that you ask for. The maxium salary can of course be any figure that you are dreaming of.

For the level of responsibility that you are comfortable with, it depends whether you wish to hold a leadership position or be simply a follower. Or perhaps, you would like to work in a team of equals or perhaps just lead a small team instead of a huge team.

All these are based on what you enjoy doing and not on other people's projection or opinion of you.

Just because you used to be a manager does not mean that you enjoy managing people.

Conclusion

After completing these 6 exercises, you should have a much clearer picture of who you are as an individual.

The key now is to find a job that will fulfill as many of those criteria as possible.

Of course, now and then, some person might get a perfect job fit.

At least with this information, you are better able to understand how each job fits you and does not fit you too. In this manner, you are able to prioritise and enter the job with both eyes open on what it can and cannot give you.

This exercise is about knowing YOURSELF. It is not about what other people know about you. It is about who you really are and what you really want out of your life. So no use lying while doing the exercise as the only person you will be lying to will be yourself.

Hope that all you readers will find this exercise useful regardless of whatever career stage you are at.

How To Survive A Job Hunt

Surviving a job hunt is probably the most important information you would need if you are between jobs and the whole world seems to be crumbling around you.

I speak from personal experience.

Up till now, I am still looking for a job. The weekdays don't feel like weekdays and the weekends don't feel like weekends.

People keep asking: "So what are you doing?"

The wife is meaner to me than usual. She gets angry easily. It's because I am sitting at home all day long.

But the job hunt process is a long and tedious one. Especially if one does not know what job to look for. The application process is also one LONG WAITING GAME.

The most difficult part of the whole process is to keep one's head lifted up high.

Afterall, society (and I mean family, friends, etc) judge you by what job you do. And if you are jobless.....Uh Oh.....they give you a pitiful look....

Surviving a Job Hunt is thus perhaps the most important thing in the search for a job. When I mean survive, I don't mean locking yourself indoors. What I mean is to make the best use of this time to do the things that you enjoy the most.

Whatever your hobbies that you have put off, go pursue it now. Reading, cycling, etc, etc. Sitting at the computer the whole day and checking your emails or facebook is not going to make the job hunt any quicker.

Don't be pressured by others. Take time to think what is it you really want in life.

I managed to do that for a few weeks and go through my life purpose and skills which I am good at.

I hope to share with you the exercise that I did and which I think everyone will find helpful whether you have a job or not. That is however best left for another day.

Just remember: In your job hunt, you are not alone!

If you are feeling frustrated or depressed, you can feel free to contact me at this blog. Perhaps I could share with you my experiences and you will feel much better! =)