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Saturday, September 17, 2016

"Evening with AK and friends" is mostly a Q&A session. 

Audience ask questions and AK with his guest panelists answer. 

Of course, we do not know everything but "don't know" is also an answer, right? 

I hear some readers now saying, "Heng ah! I never go!"




Last night's "Evening with AK and friends" was, however, a lot of AK talking to himself. 

This was because I decided to find out quickly how many amongst the audience were newish readers (i.e. those following my blog for one year or less). 

As more than 50% were newish readers, I decided to go through some slides which I used during my maiden public appearance 2 years ago at InvestX Congress.





It was a quick introduction to investing for income, my philosophy when it comes to money and my approach to capital allocation. 

These are things I blog about regularly and they are nothing new. 

However, my blog is almost 7 years old and with more than 2,000 blog posts, not many newish readers would have the patience to go through every single blog post. 




I understand. AK is a lazy guy too.

Anyway, I hope that everyone found the presentation useful and for those who are already familiar with my blog's content, I hope it wasn't too boring.

The second half of the session was the usual Q&A.



Those who attended last evening's session might remember that I said I bought a new car and I scolded myself for not practicing what I preach. 

New car? Bad AK! Bad AK! 

I rambled on about how I got the money to purchase the car and why I thought it was a good deal. 




Today, a reader asked me on FB why did I buy the car? I should have saved the money to invest with.

Some of you might remember a story I shared about Jim Rogers telling his wife they shouldn't buy a sofa she liked. 

Invest with the money and later get the sofa for free which they did. This was in his younger days. 

These days, he wouldn't have to bother. 

Of course, the story is about delaying gratification and getting the stuff we want for free later on in life.




I delayed gratification for much of my life as a working adult but in the last few years, I have become less tight fisted with money.  


Now, I still find it hard to kick the habit but if the offer is attractive enough, I am likely to bite. 

So, is AK trying to say that he got his new car for free?

Consume and we will have less tomorrow.  

Invest and we will have more tomorrow.

Hmmmm..... 




Maybe, the most important message from last night's session was "invest for income and get a car for free."

Who threw a shoe at me? Who? Who?





I want to record my heartfelt thanks to Kenji, Victor and Rusmin from TheFifthPerson

Last night's event could not have happened without their time and effort.

Remember, it might not be easy but it is not impossible. 

If AK can do it, so can you!




Related posts:
1. Second "Evening with AK and friends" in 2016.
2. Delaying gratification and getting stuff for free.

18 comments:

ScOpIoN said...

Thanks AK for last night's sharing session, it was great to see you in person. The session I would have to say is like a revision to your blogs, you learn some lessons, then you forget and you get reminded of them again and it stays fresh. I think we need to continue to practice what we have learnt to have it ingrained into a habit. So I'm starting now to not spend money. At all. LOL!

Wei Han said...

Massive value created when AK and Victor & Rusmin joined forces! I anticipate more good stuff to come. Keep sharing people!

AK71 said...

Hi Scopion,

Don't spend money! ;p

Save 100% of your take home pay!

Gambatte! :)

AK71 said...

Hi WHT,

AK is a lazy fellow. No more work for me, please.

Victor and Rusmin, you guys work harder! ;p

Rick said...

Hi AK

Suddenly thought of this question after i left the hall, hope you can answer. You mentioned that if you were choose between SPH and SPH REIT, you would choose SPH. What about the case of Fraser Centrepoint Ltd and Fraser Centrepoint Trust, would the choice be the same? A lot of people have good opinion of FCT.

AK71 said...

Hi Rick,

OK, I think you would remember why I said what I said: SPH or SPH REIT?

In relation to your question, I will add 2 points:

1. I believe FCL's gearing level is much higher compared to SPH's.

2. FCT's income is more resilient compared to SPH REIT's, I feel.

You decide if FCL is a better fit for you or FCT. I blur. ;p

AK71 said...

Oops...

SPH or SPH REIT.

Unknown said...

Hi AK!

I guess now you should start thinking of when to start spending or consuming, instead of delaying your consumption. That is why I suppose you bought a new car instead of getting it free down the road by investing it. By that time you may be too old to enjoy it. All of us has an expiry date. The last mile mostly will be spend in an old age home; or hospital bed.....

Just sharing my thoughts..
That is why the Govt is promoting the lease buy back things for seniors..

AK71 said...

Hi Benjy,

This car is really purchased from money I made from investing my savings in the past (and some residual money from a car I won in a lucky draw). So, I guess I shouldn't feel guilty. ;p

mm2 said...

Wow! I wish I could win a car in lucky draw too :D
I shall start filling up those lucky draw forms I've been throwing away I guess. Hehe..

Unknown said...

hahahah its about time you enjoy AK

AK71 said...

Hi mm2,

Haha. Yes, my previous car was really free of charge. :)

With lucky draws, we never know. If we try, we have a chance. ;)

AK71 said...

Hi Clive,

I know. That's what so many people are telling me. Some friends even scold me into action... -.-"

AK71 said...

Reader:
Thanks AK! Really appreciate your time and your responses 🙂
Haha want to go for Tea with AK leh... Did not manage to go b4

AK:
Many readers asking for this too. I feeling lazy but I might have to organise one later in the year.

AK71 said...

Reader says...
My Wife say building passive income more impt than getting promoted. Haha

AK says...
I have no career aspirations.
I have only financial aspirations. 😛

AK71 said...

Lim Der Shing says...
Need to have work aspirations. Just having enough or more than enough is a great thing. But beyond that you have to do something to engage other humans. I actually feel your blog, talks, fb page is the manifestation of your work aspirations. It’s not only financial for you too!
Mine is angel investing and helping build startups. Yours is helping fellow men find FI.

As Df says...
Depends on how you define work. Sometimes it's about getting through the stuff you're disengaged from but well paid for - to something you actually give a damn about and *want* to work at.

Lim Der Shing says...
Yes that’s true. I suspect my definition is much broader. work for me is anything that engages other people or other entities in a systematic and thoughtful manner to achieve certain results. So work can be paid or unpaid, one man show or part of bigger structure. Portfolio Mgmt, freelancing, volunteering, blogging purposely all work to me. I suspect this definition works best for semi retired or fully retired people.

Singapore Dividend Collector said...

Is there a video of this talk? I would love to see it.

AK71 said...

Hi SDC,

"Evening with AK and friends" are chit chat sessions and not talks per se.

No video.

Not allowed. :p


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