Crazy Rich Asians or Pragmatic Rich Asians?

I know my blog has some reach beyond the shores of our tiny island nation of Singapore.

Remember how I received a not too glamorous award from a forum in China recently?

See:
Once upon a time in China, Weibo says 铁公鸡AK 还好没结婚!






I would like to share a conversation I had with a reader from Hong Kong some time ago:

Reader says...
Hope you don't mind a guy from H.K. dropping a line.

Indeed I used to stay in Singapore for a few years back 20 years ago.

As far as I know Singaporeans at that time liked luxury items, and home as well of course.

It is kind of having face, isn't it?

Glad to find AK's blog which share a different view from the majority (Forgive me, if this sounds offensive, on my poor English).

Personally I do agree with your mentality but I think You would appear a bit odd in the main stream?






AK says...
I think having face is more important in Asian societies compared to western societies.

I could be wrong but this is from my own observation and Hong Kong is probably the same as Singapore in this respect.

Me? 

I am crazy. ;p

(But not a Crazy Rich Asian hor.)







Reader says...
You are right that face matters in Asian community so does it in H.K. as well.

I am not sure if I still understand Singaporean correctly now but as far as Honkies, I think they are more pragmatic than their counterparts.

I don't say they don't care face but when it comes to money, they prefer money more than face.

People on the street don't put many luxury branded things on them.

I think they like the (saved) money better.





I did find that you guys discussed a lot on financial freedom but don't you guys have the CPF which is supposed to support the post retirement living?

Is it not adequate for the purpose or you guys just want a better than standard living, apart from the possible and unpredictable retrenchment?

Guys, here in H.K. also has a growing concern about financial freedom because our MPF, a copycat of CPF but much less effective, is just a joke.

We really need to be on our own feet after retirement.

No la, you are not crazy at all but just pragmatic and rational.






AK says...
Thank goodness we have the CPF! :)

However, not every CPF member knows how to make good use of it.

For those who know, who are able and willing to, they could have a million dollars in their CPF by the time they retire from active employment.

Enough or not?

That depends on the individual. ;)

A problem with our CPF system is that the government allows members to use their CPF savings for too many things and people forget the primary purpose of the CPF.

More and more CPF members who have used their CPF savings to pay for their homes might find out as they grow older that they might not have enough CPF savings to fund their retirement.






Is it true that Hong Kong people are more pragmatic than Singaporeans?

Do they care more about having money than having face?

I don't know but I know that housing cost is through the roof in Hong Kong and I know that unlike our CPF system, their MPF does not provide a relatively reasonable risk free return.

So, perhaps, this is why they are more worried than Singaporeans about their personal financial health.





I was once told that if we can climb the corporate ladder in Hong Kong successfully, we can do well anywhere in the world because it is that stressful.

I am very fortunate to be a Singaporean and this is one blessing I count all the time.

My fellow Singaporeans, we might not be Crazy Rich Asians but if we do the right things, we will be Pragmatic Rich Asians.

If AK can do it, so can you!






Related posts:
1. If we are not rich, don't act rich.
2. Almost 55, worried about CPF.
3. FRS by age 35 and $1M in CPF.

STAR WARS AND FINANCIAL FREEDOM IN 2017!

A reader made a droll statement on FB and I decided to share some quotations from my favourite Science Fiction movie on the first day of 2017:

Related post #1. There are many who do not believe in delayed gratification and the power it has to improve our financial health:

I find your lack of faith disturbing.

Related post #2. For those of us who believe that saving more and investing in income producing assets for a more secure financial future is the way to go, remember, if a job is worth doing, it is worth doing well. Don't be half hearted.

Do or don't do. There is no try.

Related post #3. We will do well to embrace our financial fragility. We are not invincible. It is better to be cautious even if we are strong. Why? Strong, yes. Invincible, no.

Don't get cocky.


Related post #4. There will be times when we feel like throwing in the towel. I know. Sometimes, life just throw us a curve ball or two. I have been there. Well, you might want to book mark this page and remember the X-wing fighter that destroyed the Death Star. Don't let the bad guys win!

Stay on target.

Related post #5. Of course, there is always fear. There is fear that we can never beat the system (e.g. CPF). There is fear that we might grow old and destitute. There is fear that we can never retire. There is also fear in Mr. Market from time to time. Make use of Mr. Market's fear and build passive income!

There is something stronger than fear. The Force (of passive income).


For those who don't follow me on FB, the culprit:

BEWARE THE DARK SIDE which is usually full of bling bling stuff and other tempting objects disguised as needs and very often touted by self serving minions as such.

MAY THE FORCE BE WITH YOU!
HAVE A STELLAR AND FUN 2017!
Related posts:
1. Delayed gratification.
2. Building an income portfolio.
3. I lost my life savings.
4. Make $1m investing for income.
5. Best insurance in life!

STAR WARS: THE FORCE AWAKENS. (SPOILER ALERT!)

It has been a while since I blogged about a movie although I have watched quite a few since the last time I blogged about one.

Star Wars: The Force Awakens. 

In one word, epic!

C3PO and R2D2, move over!
BB8 is the new star of the show!

I watched my first Star Wars movie in Capitol Theatre when I was in Primary 3, if I remember correctly. I have watched every single Star Wars movie since. 

Yes, I am a big fan.

If you are a fan like I am and if you are a male in your 40s, you should be and you would want to watch this latest episode. 

I enjoyed the movie partly because it was like a family reunion with all the original cast although all much older now. Yes, I know. Sentimentality is a sign of old age.

Although I suspected that it would happen, it was still very sad when Hans Solo died at the hands of his own son (whom he fathered with Princess Leia). Their son who called Darth Vader his maternal grandfather went to the Dark Side, in case you are wondering.

I will miss Hans Solo.

OK, on to a delightful find. The Millenium Falcon! Yes, older and dirtier but it still packed a punch! I dreamt of flying in the Millenium Falcon when I was a boy.

Luke Skywalker had the easiest job in the movie, appearing only at the end, standing on top of a mountain, looking contemplative. 

We don't have to contemplate too much. We know to look out for the next episode.

I am not going to say very much else except to thank my broker for the treat. 

May the Force be with you!



My last blog post about a movie:
Exodus: Gods and Kings.

Take a break with AK and recharge our spirits.

I like Japanese anime and I shared some soundtracks here in my blog before. It has been quite a while since the last time I did this.

The last couple of soundtracks I shared were from Sword Art Online and Log Horizon. That was more than a year ago. Since then, I have watched Sword Art Online (Part 2) and Log Horizon (Part 2).

A few days ago, I decided to watch again an anime I watched a few years ago. It is a very heartwarming anime which I enjoyed but time has dulled my memory of the story. Well, watching it again and enjoying it as much as the first time I watched it shows what a wonderful piece of work it is.

In case you are interested, the name is "So Ra No Wo To" (The Sounds of the Skies). Even if you do not usually watch Japanese anime, I think you will enjoy the melodies of the following songs and find inspiration in the words of the second song:





Prendre le bien, le mal et sans trier, accepter.

I find the anime spiritually uplifting and it fills me with hope that the world could become a better place for all of us to live harmoniously together in future (which is what the anime is about, ultimately).

A reader who is quite an accomplished musician recently asked me if I played music? I said I tried but the interest didn't last very long. I was a bit like Sherlock Holmes trying to learn the violin.

He said I can listen to music, then. That, I can certainly do. He sent me this clip:



Hope you enjoyed this as much as I did.

Related posts:
1. Sword Art Online and Log Horizon.
2. Fairy Tail.
3. Full Metal Alchemist.

Exodus: Gods and Kings.

I was invited to a buffet dinner and a movie treat complete with popcorn and Pepsi.

The movie was educational and entertaining at the same time. Although Biblical, I believe that there are certain lessons here which have universal value.

We should treat every human being equally. It doesn't matter what is the color of our skins.

Efforts to enrich ourselves or to make our lives better should not be at the expense of fellow human beings. Unfortunately, examples of "beggar thy neighbour" are rather common and I am sure all of us have tales to tell.

Related post:
The Amazing Spider Man 2.

How I was moved by Lucy?

I watched Lucy, the movie, last night.

It was thought provoking and I enjoyed it very much.

Morgan Freeman asked if we humans are too concerned with having instead of being? I like that question.

I asked myself what would I like to be?

Pause.

Pause.

Pause.

I would like to be a person who can make a positive difference to people's lives.

I want to be a good influence.

I think a person like this is good to be.

Of course, whether I will actually be someone like this is harder to say.

Related posts:
1. The kindness of strangers.
(Published in the month of August last year.)

"I feel that if we can make a positive difference in the lives of others, why not? If we can show some consideration to others and make the world a better place, isn't that a good thing?" AK.

2. Another day in paradise.
3. The world is full of nice people.

Fire up your Sunday with SAO and Log Horizon!

Sharing some music from a couple of really fantastic anime I watched recently!

Sword Art Online (SAO)


(Unfortunately, Log Horizon's soundtrack was removed.)

Hope you like them as much as I do. Enjoy your Sunday!

More music:
1. Fairy Tail.
2. Hunter X Hunter 2011.
3. Full Metal Alchemist.
4. Groove Adventure Rave.

The Amazing Spider-Man 2!

My broker has done it again!





Also, I got a free dinner, a free tub of pop corn and a bottle of Pepsi! Happy!

Two thumbs up!

Related post:
A movie treat from my stock broker.

A movie treat from my stock broker: Captain America 2.

Great movie and in 3D too!




I got a free dinner, free tub of pop corn and a free bottle of Pepsi too!

Thumbs up!

Why a meaningful emergency fund is important?

This seems like a rhetorical question since the answer seems obvious enough. It is so obvious that I do not recall having a blog post dedicated to the topic.

So, when I came across a blogger who thinks that an emergency fund is not important to him, it got my attention. This is a contrarian and I always like to find out why contrarians think the way they do.

In summary, the reasons why he does not keep an emergency fund are:

1. His family has adequate insurance coverage.
2. His family's expenses are relatively low.
3. His family's investment portfolio is sizable.*

*Current value is about $150,000, generating about $10,000 of passive income annually. This is taken from the regular updates provided in his blog.

Anyway, have a read as I don't want to poison the well:
Why we don't keep an emergency fund?

An esteemed blogger, CW, had this to say:

No emergency fund? Never mind. But still have to maintain adequate level of liquidity to meet unforeseen multiple life events happening.

It is never one hole that sinks a ship. It is several holes happening one after another that sinks that ship.

The blogger, My 15 HWW, replied:

I admit my life experience is lacking compared to many qianbeis like you but I do hope that life would not be so harsh as to sink my small boat. Because it’s small, it could also be nimble and flexible enough to steer clear of impending danger (unlike Titanic)?

If several holes happen, think the emergency fund might not be enough too and one might have to liquidate other assets.

To which, AK says:

I get where you are coming from.

However, I would really encourage some kind of demarcation and even a blurry one is useful. Why?

Let us say that Mr. Market gives us that correction some of us have been waiting for, how much of your cash on hand would you put to work? Doing what you do, if we put in 100%, then, we would have no money left for emergencies.

A small craft might be nimble but try watching “The Perfect Storm” instead of “Titanic” to see the other side of the coin.



"We never want to count on the kindness of strangers in order to meet tomorrow’s obligations." Warren Buffett

A perfect storm could sink us if we did not have a meaningful emergency fund.

Update (29 May 2015):
How much should we have in our emergency fund?

Related post:
Don't think and grow rich.

AK71 is watching Groove Adventure Rave!

I think the is some relation between Fairy Tail and Groove Adventure Rave. There is even an anime where characters from the two came together.

Love the music too!

This will be a busy weekend.

Related post:
AK71 is watching Fairy Tail.

AK and "Full Metal Alchemist: Brotherhood".

I watched Full Metal Alchemist many years ago. That was the first anime adaptation of the manga in 2003. I didn't know they had a second anime adaptation in 2009.

Another time guzzler. Lots of catching up to do! Yeah!

I like this anime. 

There is no free lunch in this world!

Believe in the principle of equivalent exchange?

Hunter X Hunter (2011): Snowballing towards bankruptcy.

I am still watching Hunter X Hunter (2011) and here are a few screen captures (with English sub-titles) from the last episode I watched:

Cool, isn't it? Wasn't expecting anything like this in an anime of this genre.

Related posts:
1. Get on top of your finances!
2. Don't think and grow rich!
3. Not enough money to be married.
4. Good debt is always good?
5. AK71 is watching Hunter X Hunter (2011).

What can investors learn from assassins?

I am spending quite a bit of time watching Hunter X Hunter (2011) now.

In the latest episode I watched, Killua thought of the advice his father, a professional assassin, gave him:

"Listen to me... Never take risks.

"Act only when success is guaranteed.

"Otherwise, wait.

"Waiting is our most crucial job.

"If victory isn't assured, revealing your strength is the most foolish move to make."

What can investors learn from assassins? I wonder.

Related posts:
1. Hunter X Hunter (2011).
2. AK71's simple strategy.

AK71 is watching Hunter X Hunter (2011).

I watched Hunter X Hunter more than 10 years ago! Those days, I would buy the VCD box sets from Poh Kim or was it Laser Flair? Hmmm, maybe TS Video? I cannot remember exactly.

Well, I didn't know they had a remake a couple of years ago. I like it!




Love the music!

Rediscovered a time guzzler.

Related post:
AK71 is watching Fairy Tail.

AK71 is watching Fairy Tail!

My all time favourite anime is Naruto. Now, I am still watching Naruto Shippuden which is ongoing.

Recently, I started watching Fairy Tail! I really like the music:







Very Celtic and at the same time, it has some Oriental tones. Fusion!

Like it?

A movie: Pacific Rim.

Watched Pacific Rim this evening. I guess I went in with lots of expectations because I have heard so many good things about it from friends. It was good but I wasn't wowed by it.

Took a photo of this standee outside the cinema.

The story is kind of predictable. I mean I could guess who were going to die and who would live in the end. I think more effort could have gone into fleshing out the story too. It was a little bit weak.

There was this scene where a Jaeger (human controlled robot) used what looked like a bulk carrier, a ship as a club to hammer a Kaiju (monster). Watch the scene in the trailer (about 2 minutes 4 seconds into the trailer):



At that point in time, a question came into my head. I wondered which shipyard might have built that ship. It was so sturdy! Didn't break into half when it clobbered the Kaiju.

Anyone knows the answer?

After "After Earth"?

I just found out that "After Earth" is a box office flop. Is it that bad? I was thinking of watching it.

Apparently, Will Smith is quite affected and has decided to quit acting in blockbusters. This movie was his project and his son was the co-star.

I thought the movie trailers look quite good.



Not bad, right? I like the theme.

I have always enjoyed movies which are based on some kind of scientific theory. For example, a movie which I enjoyed a lot was "The Day After Tomorrow".

I feel that the extreme weather conditions we are seeing in the world today definitely has to do with climate change and the movie gave a glimpse of what could happen eventually. See: Just storms?

Related post:
A movie by M. Night Shyamalan: The Last Airbender.

Iron Man 3.

I enjoyed "Iron Man" the movie. I also enjoyed "The Avengers". I am definitely going to watch "Iron Man 3" as well.

In "Iron Man 3", Tony Stark finds his personal world destroyed at his enemy's hands, he embarks on a harrowing quest to find those responsible.

With his back against the wall, Stark is left to survive by his own devices, relying on his ingenuity and instincts to protect those closest to him.

As he fights his way back, Stark discovers the answer to the question that has secretly haunted him: does the man make the suit or does the suit make the man?

I like movies which pack a punch, provide food for thought and inspire the audience.

When we are down and out, we are only really down and out if we believe we are down and out.

Unless we are seriously disadvantaged in some way, it is never too hard to improve our lots in life.

If you like what I like, watch "Iron Man 3":
http://sg.sharings.cc/AK71SG/share/ironman3

Oz The Great and Powerful!

I have always enjoyed movies by Disney. I guess I am still a little boy at heart. ;-p

Well, a new Disney movie is coming to town!

“Oz The Great and Powerful!”

When a small-time circus magician was transported from dusty Kansas to the vibrant Land of Oz, he thought he had hit the jackpot until he met the three witches who were not convinced he was the great wizard everyone had been expecting!

I have always enjoyed the messages embedded in Disney's movies. This movie is probably no exception as the magician transformed himself not only into a great and powerful wizard but into a better man too!

“Oz The Great and Powerful” screens in Singapore on the 7th of March 2013.

Visit the official website and you could also take part in a contest to win exclusive movie premiums at:
Disney's "Oz The Great and Powerful!