The email address in "Contact AK: Ads and more" above will vanish from November 2018.

PRIVACY POLICY

FAKE ASSI AK71 IN HWZ.

Featured blog.

1M50 CPF millionaire in 2021!

Ever since the CPFB introduced a colorful pie chart of our CPF savings a few years ago, I would look forward to mine every year like a teena...

Past blog posts now load week by week. The old style created a problem for some as the system would load 50 blog posts each time. Hope the new style is better. Search archives in box below.

Archives

"E-book" by AK

Second "e-book".

Another free "e-book".

4th free "e-book".

Pageviews since Dec'09

Financially free and Facebook free!

Recent Comments

ASSI's Guest bloggers

Solace says winter is coming and he is taking action.

Friday, July 1, 2016

Sharing a comment from Solace, an ASSI guest blogger. It has been a while since he wrote and this piece is a heartfelt one.

Solace says:

In trying to navigate through personal finance, I have learnt not to set conventional limitations on myself.

When I first started out, I thought I should only work from 8am – 5pm, Monday to Friday. No work for me on public holidays and on weekends.

Such thinking limits options to increase our income.


I know people who monetise their free time on weekend and public holidays to give tuition. Others work as relief taxi drivers on weekends.

I have 2 friends who are passionate about sports and music, respectively. Both hold full time jobs in the corporate world. One transforms himself into a swimming instructor during weekends and evenings while the other teaches music on his off days.

My industry and skillsets have allowed me to change from working regular hours to doing shift work. 


Now, I am required to work on some weekends and public holidays. Sometimes, I am also rotated to work night shifts. I would also volunteer for overtime as long as I can make it. All this translates into higher income as a result.

Human capital is limited, make hay while the sun shines.


Try our best to make more money while we are younger and healthier.

"Winter is Coming" is a motto in Games of Thrones.

The meaning behind these words is one of warning and constant vigilance. There are always dark periods (“Winter”) in our lives even if things are good now ("summer").

In our context, winter can come in the forms of economic recessions (leading to retrenchment, pay cut, pay freeze, for examples). Of course, sickness and old age are inevitable.

I do hope that I am well prepared when “Winter” eventually comes into my life.






AK hopes that all of us are well prepared.

Do the right things because our lives can be and should be better.


Related post:
A young father says money not enough.

9 comments:

TT said...

Everything in moderation. Work is not everything, neither is money. Work hard, but rest well. Earn money, but spend when necessary.

tong said...

r u hinting that winter is coming next year?

Siew Mun said...

I have a day job, weekend chef job and occasional clinical research participant job too. I still have time for the family. Living a full life of different kinds of experience and meeting different people. Don't find myself overwork. Increase my human capital and expanding my skills

AK71 said...

Hi TT,

Health is very important too. I agree. :)

AK71 said...

Hi Tong,

Not I say de. I sent Solace a little note on FB already. Wait for his reply. ;)

AK71 said...

Hi Siew Mun,

Always a good example. Two thumbs up! :D

Solace said...

Hi Tong,

Depending on your definition of "Winter"

Growing old and destitute might be a "Winter" to some. Sickness and aging body can also be "Winter" to others.

I leave another quote here which i think is very pragmatic.
"if you're going to be a cripple, it's better to be a rich cripple"

For "Winter" in economic recessions, history has shown it will arrive sooner or later.

When it comes, i hope we are well prepared.

Solace said...

Hi Ak,

Realize that it has been quite some years since i left a comment.

Recently hit some financial milestone that i think might be good for me to drop a note.

1. Clear finish all my housing loans (using majority CPF OA + some cash)
2. Achieved CPF BHS for 3 years already, topping up BHS to the max every January
3. Achieved CPF FRS this year. I will be hitting age 38 this year.

In terms of stock portfolio and cash reserve (If i liquidate all the stocks now at market value + cash reserve), i estimate it will be in the region of 650K to 700K

Since my SA has already hit FRS, i am transferring my monthly OA contribution to my spouse SA to help her reach FRS sooner too. Since my OA CPF will only be earning 2.5% interest instead of 4% in my spouse SA.

With the above 3 goals achieved, i am beginning to see light at the end of FI journey. Still some way before i achieve my eventual financial targets, but at least i can see and visualize the end point already.

Comparing with others on how fast one reach FI is pretty pointless as I realize I am more comfortable running my own race.

I hold an ordinary job and have an ordinary life. Not blessed with supreme luck, like getting inheritance or other handouts from parents.

There are up and down in my investment journey. Not all stock picks are winners.

As long as we were prudent in our approach, has good personal finance and decent investment knowledge, we all can take steps to secure a good retirement and to improve our life.

AK71 said...

Hi Solace,

So good to hear from you!

Yes, it has been many years since the last time you commented. :)

Very happy to read your update and see that you are achieving your goals at your own pace.

For sure financial freedom is not a race.

Don't have to compare with anyone else.

Gambatte! :D

References:
1. Financial freedom is not a race.
2. Why Singaporeans obsess with salaries?


Monthly Popular Blog Posts

All time ASSI most popular!

 
 
Bloggy Award