Showing posts with label Personal. Show all posts
Showing posts with label Personal. Show all posts

Tuesday, November 8, 2011

Just launched my first website yesterday!

I have been toying with the ideas of starting a small side line for many years. I’ve been really fascinated by businesses and has always been telling R about new business ideas, though he put down some of my ideas at times. None came to fruition so far, of course.

Well, after our recent aussie trip, a new business idea came to me. I decided to set up an online business. Just published it yesterday, and it feels great. My virgin website! Simple, nothing to rave about and since I have not started to promote it, no one visits my website yet, nevertheless it still feels great to know that I've taken the first step. Am already toying with ideas for my second website. But hmmm.. let’s see how this one will take off. Looking forward to my new side line – at least something to keep me occupied during my no-pay leave next year when Baby No. 2 comes along. 

Thursday, May 19, 2011

Interesting Article by Adam Khoo

I came across an article written by Adam Khoo about his wife’s upbringing of the kids. Quite inspiring. He shared that it is important to teach children to be appreciative and be grateful for all the little things that others do for them and not takes things for granted. Well, my girl is cared for, to a certain extent, by my domestic helper and there were times where I caught her screaming at the maid when she can’t get her way. A behavior that I personally do not like.


Interesting read that set me thinking if I should start planning what kind of values do I want to inculcate in my little one and how I would like her to be brought up…

*******************************
Mummy Makes a Difference!
May 3, 2011 | By Adam In Learning,My Life | Comments(8)

I am really proud of how well my children are growing up and would like to share with my friends some of the things that have made me smile recently. My daughter has been noticing the books I have written over the years and stares curiously as I type up the manuscript for my next book (due out in 2 months). “How come you can write so many books?” she asked. I said, ‘You can write books to if you want!”

Ever since then, she has been taking A4 paper and writing her own very very very short books (4 pages) with pictures that illustrate her story. Of course, what she writes is not original. Basically, she is plagiarizing ideas from the many children’s books she has read (e.g. Snow White, Little Red Riding Hood etc…). She mixes and meshes the stories together. She may or may not become a writer in the future, but it makes me proud to see her having a passion for something and taking action towards. It is this attitude that I have always wished for my children.

However, what makes me the most proud is not their intellectual development but their character development. They have grown up to be extremely caring, loving, appreciative and polite children. Whatever my wife serves for dinner, they would say, ‘thank you mummy for cooking dinner for us’. They thank her and thank me for fetching them around, buying things for them and cooking for them.

Every few days, they would draw cards for us telling us how much they love us and thanking us for what we do for them. This are some of the cards and paintings they have made for me.



I was very touched when my eldest daughter Kelly drew a card for my maid to thank her and to say ‘I love you’ to her. She had tears in her eyes when my daughter hugged her and gave her the card. This is the card my daughter made for our maid ‘Jagung’.


My two kids have also become very independent and self-disciplined. Whenever they come home from school, they will start to finish their homework automatically without being told. Before dinner, they will help to setup the utensils and the carry the food. After dinner, they will carry their plates back to the kitchen.

However, I must point out that all these attitudes and behaviours did not happen by chance. It is the result of their mother spending countless hours to guide them and shaping their character. I am really lucky to have a wife like her. It is not uncommon nowadays to see children and teens acting in a selfish and ungrateful manner. Some of them take their parents love for granted, even shouting back at them at times. One of my friend’s wife was recently diagnosed with kidney failure. She had to stop work and has been resting at home for the last 3 months. The sad thing is that her teenage children have not volunteered to help their mother at all. Even though the oldest son can drive, he is too busy with his hobbies to fetch his mother for dialysis treatment. The poor old women has to take a bus by herself. They would rather spend the time going out with their friends and even resent the fact that they get less pocket money now that mum can no longer work.

It is not uncommon to see some children and teens acting in a selfish manner and taking the things they have for granted. While we often blame them, my wife believes that their parents have just as much to blame as well. Respectful, grateful and kind children do not come about my accident. It is up the parents to teach them good values and to shape their behaviours from the time they are young- when they are easily moulded. Children may not always listen to what we say, but they will always learn by observing our behaviours. I also believe that our children learn to treat us by observing the way we treat OUR OWN parents. If we shout at our parents, disrespect them and don’t bother to visit them, our children will do the same things to US when we grow old. It is a kind of ‘Karma’ that comes full circle.

” There is no such thing as a bad student. Only bad teacher”- Mr. Miyagi (from the Karate Kid Movie)

Let me share some of the things that my wife has done over the years to mould my children’s character and to teach them the right values.

1) Teaching Respect for Elders
Many mums will serve their children the first piece of cake on their birthday. They believe that this is the way to show their love. We believe that by serving the first piece of cake to the kid, it may be cultivating the wrong values and mindsets. By treating the child like a ‘prince’ or ‘princess’, they will grow up thinking that the world owes them a living and think only of themselves, and not for others.
In our family, we teach our children to serve cake to all the elders first before eating their share.

2) Teaching them Gratitude
Many parents complain that their children are ungrateful. That no matter what they do for their kids, their kids only complain. What my wife and I believe is that we need to teach them to be grateful. We teach our children to thank their teachers, the maids, their grandparents and their parents (us). When I am away working overseas, my wife will tell them how I must work to earn the money to pay for the house, their school fees and their food. Every time I come home, I get a big hug from them. They then say ‘thank you for working for us.’

We also use the Internet as a resource to show them and teach them how the millions of children in poor countries are suffering without food, shelter and a proper family. We then tell them how lucky they are to have a chance to live in Singapore and be able to go to school. THis is why my kids never complain about going to school or doing homework.

3) Teaching them Self-Discipline
Whenever my kids come home from school, mum will always ask them to check the homework they have and to finish it as soon as possible without delay. When they make mistakes on tests, she will go through each one with them to make sure they learn from it. After her ‘coaching’, they have now formed the habit of doing it themselves.

If my own mother was like my wife, then I would never have got kicked out of school in primary three and never have become the lazy, unmotivated underachiever that I was in the past. That is why I think my kids are so lucky to have a full time mum. It does make a big difference. Then again, if I was a disciplined, motivated child to begin with, maybe I could not have become such a success story and have written by book ‘I Am Gifted, So Are You!’ So I guess everything happens for a reason.

4) Teaching them Responsibility and Self-Confidence
Although we have maids in my house, my wife tells my children to set the table and help to carry dishes from the kitchen to the dining table. When they are finished, they carry their plates to the sink. If they spill something on the floor, they are the ones to clean it up and not the maids. When we go out, they carry their own water bottles and bags. Our maids do not do it. This may seem to some like cruel child labour, but we believe that it teaches them to be independent and responsible. It also builds in them the self confidence that they can do things themselves. The best part is that they find it fun to do!

If you are a parent of young children yourself, I do hope you find my sharings useful.

http://www.adam-khoo.com/

Tuesday, March 8, 2011

Just Lamenting....

It's been quite a while since I've updated my blog.. been so busy with work, family, overseas trips and all.

My little one is going 2 years old in a couple of months and I'm planning for number2.... Somehow, the voice inside me is getting stronger as the day passes.... I would really like to stay at home when my baby number 2 comes along..

To be frank, I do feel guilty not having spent enough time with my kid. Just this evening, she held a book in her hand, wanting someone to read to her.. i stretched out my hand, to get her to sit down on my lap but instead, she walked towards my helper.... because she is so used to my helper reading to her.... I guess it is unavoidable since my helper spent the whole day with her but it made me feel so uncomfortable ...this should have been my role as a mother... there were so many times when she looked towards the maid for comfort instead of me.. each time it happened, it made my heart sank...


Kids grow up so fast! But hubby would prefer that I continue working.... so that we are comfortable financially... i'm kinda torn.... i am not the ambitious type and I am also quite sick of office politics....


I've been thinking quite a fair bit about how to derive more income if I were to become a SAHM... what side businesses I can start up and whether I should sign up for courses to improve my trading skills ....sigh.. i guess until I find a solution, my dream of becoming a SAHM will only remain a dream...

Thursday, October 28, 2010

Be The Best You Can Be

Forwarded to me by a friend who came across this article from Challenge magazine. It is "A Letter to a Young Officer", by Lim Siong Guan, Group President, GIC.

I found this article particularly inspiring.. just to share.
---------------------------

DEAR YOUNG OFFICER

If I am allowed to offer just one piece of advice to anyone newly starting work, it would simply be, "Be the best you can be". This requires three actions:

. Do the best you can in whatever you do;

. Be the best you can be - reach out to realise your potential;

. Work well with others - accomplish more than working just on your own.


"Do the best you can" means to be never satisfied until you have put your all into any assignment. There needs to be the "intellectual restlessness", a continual questioning as to whether things could be done in a better way, and whether you could do better things with your time and energy.

There needs also to be a "constructive dissatisfaction", an unwillingness to be satisfied until the best possible has been done, but an unwillingness which manifests itself in a constructive, rather than destructive, sceptical, complaining, or cvnical wav.

"Be the best you can be" means taking every opportunity to improve yourself. It is a willingness to learn, a willingness to accept criticism, a willingness to listen, and a willingness to try new things. I am saddened when I hear someone say, "I dont see why I should do this when they are not paying me more." That is how we miss opportunities to become better, stretch our abilities, and learn how more capable we could be.

Separate the matter of pay from the willingness to do more. If you are not prepared to do more, yor miss the chance to establish your credentials to be entrusted with more. And if you do do more but do not get the promotion or recognition in due time, you always have a choice to go somewhere else where your skill and experience would be given adequate recognition.

There is no need to stay where you are and be miserable. At the same time, the only one who loses by not stretching himself or herself is you.

"Work well with others" means recognizing there are very few things in work and life which you can do all on your own. Develop networks of contacts and nurture relationships.

Synergy and symbiosis guarantee greater achievement than "flying solo". Learn to "put yourself in the other person's shoes". "Do unto others as you would have them do unto you." There has to be self-confidence but there has to be humility, too. Share with others and together make things happen.

Living these three precepts in the Public Service is not difficult if you are willing - The mission is honourable - to serve Singaporeans and Singapore. It lives on meritocracy, offers opportunity to contribute and to try and naturally demands working not just within a department but across agencies.

"Be the best you can be" is good for your advancement, your sense of self-worth, your enhancement of knowledge and experience, and your ability to contribute. It is good for your soul.

Monday, August 30, 2010

Good Website for Cheap Books

I’ve just found a website that sells relatively cheaper books. Price quoted is lower than Amazon (after factoring in delivery charges). The book I bought cost $32.17 at Kinokuniya but was priced at US$18.15 (estimated S$25) on the website. That’s a good 22% savings.

Drum roll… .the URL is www.bookdepository.co.uk


There is no delivery charge worldwide. And I received my order about 1 week after placement. [I placed my order on 19 August 2010 and received it on 27 August 2010.]

I would strongly recommend this website and would definitely use it again!

Monday, May 31, 2010

Dual Currency Deposit

I visited a bank recently and was introduced to Dual Currency deposit.

HOW IT WORKS

Firstly, customer has to choose two currencies. For simplicity, let’s assume SGD and AUD.

For illustration,

Current exchange rate is S$1.16 per AUD.
Established strike price is S$1.2 per AUD.
Contracted SGD interest rate : 0.75%
(This rate is higher than prevailing SGD interest rates).

At a pre-determined date, say, 1 month later, if the exchange rate goes up to S$1.25 per AUD, I'll get the deposit back in SGD (the weaker currency). However, the bank will compensate me with a slightly better SGD interest rate (of 0.75%).

If exchange rate goes down to S$1.1 per AUD (that is, AUD depreciated), I'll get my deposit back in AUD at S$1.2 per AUD, which is the strike price.

MY CONVERSATION WITH THE BANKER

Me : What happens if AUD crashes to, say S$0.95/AUD?
RM : Don’t worry, this is very unlikely.
Me : What if it really happens?
RM: wlll, then you just continue holding in AUD. You can plan for a holiday in Australia. Or hold it in an AUD account and wait for it to climb back up. One good thing about AUD is that the interest rate is much higher than if you were to hold in SGD.
Me: Errm.. but I still don’t feel comfortable.
RM : If you are worried, you can just opt for a shorter tenure, say 2 weeks. That should be quite safe.
Me : Errm.. ok. Can you tell me what is the maximum risk that I am exposed to? Can I lose everything?
RM: No, don’t worry. Unless AUD loses all its value, which is not possible right?
Me : Hmmm.. let me go home and think about it.


VARIOUS SCENARIOS

Investment Amount : S$10,000
Current exchange rate is S$1.16 per AUD.
Established strike price is S$1.2 per AUD.
Contracted SGD interest rate : 1.00%

SCENARIO 1 : AUD APPRECIATE TO ABOVE THE STRIKE PRICE AFTER 1 MONTH (SAY, S$1.25/AUD)
I would get back my S$10,000 +S$8.22* = S$10,008.22
[*interest earned after 1 months at 1.00%]

SCENARIO 2 : NOTHING HAPPENS, THAT IS, EXCHANGE RATE DID NOT MOVE MUCH.
I would get back my S$10,000 +S$8.22* = S$10,008.22
[*interest earned after 1 months at 1.00%]

SCENARIO 3 : AUD DEPRECIATE TO ABOVE THE STRIKE PRICE
I would get back in AUD at pre-determined exchange rate of S$1.2 per AUD, that is, A$8,333.33

If the prevailing exchange rate is S$1.1 and I need my SGD back, then I would only get back,
= A$8,333.33 x S$1.1/AUD = SG$9,166.
Net Loss of S$10,000 – S$9,166 = S$834.

If I were to continue holding my deposit in AUD, the 6% in AUD interest rate would take me more than a year to recoup back my loss.


MY THOUGHTS
- In fact, the customer is as good as selling an option on the alternate currency at the exercised (or strike price) and the "additional interest" is merely the option fee earned. The bank is very likely to have either earned a certain portion out of the option fee or the bank could be taking the opposite side of the trade unless it hedges it out in the market.



Does it make sense for me to invest in such products?
- Only if i've some uses for AUD currency, e.g. business needs, or if I have children who are studying in Australia, if I really do have plans to tour Australia - which means I don't mind holding on the alternate currency.
- However, if one is buying this product solely for investment gains, my personal view is that you are better off, engaging in direct FX trades or buying /selling FX options yourself, rather than getting into a structured product.

On dual currency investment, my gain would have been “capped” while my losses would have been unlimited”. [Payoff is quite similar to selling a put option].


Cap = my gain is limited to the contracted interest rate (over the existing prevailing interest rate).
Unlimited loss = I do not know how much the exchange rate will ultimately be and that is the risk I am taking.

Just my two cents worth.

Saturday, May 1, 2010

"A Gift to My Children” by Jim Rogers

I have not really been able to update my blog regularly due to heavy work and family commitments. Finding time to sleep itself is already a luxury, let alone reading a book. So I must give myself a pat on my back for finishing a tiny book “A Gift To My Children”, written by Jim Rogers, using pockets of time I have commuting to/from work on the train.

Jim Rogers, as most people would know, became the co-founder of Quantum Fund before he turned 30 and retired at the age of 37. He has been a strong advocate of China economy and the commodities market, and he derives the basis of his strong conviction from touring around the world. He is bullish on China and Brazil due to strong commodities demand but less so on Russia (due to its political instability) and India (slow infrastructure progress).

His message to his 2 daughters, Happy and Baby Bee, includes :-

- Focus on what you love – working very hard with the job which you are enthusiastic about, then you will find your dream.
- The common sense isn’t that common – what everyone believes in usually is wrong, don’t just believe in those saying of most people, with doing any research.
- Study the history because something happened before, it also might happen in the future.
- It’s a Chinese century, so to learn Chinese! And participate in a great country occur, to buy the future of this country. In fact, in his book, he advocated learning English, Chinese and Spanish as many languages will disappear with time but these are the 3 that is likely to remain.

I particularly like his epilogue, where he shared the rules that he would want his 2 daughters to always bear in mind. Some of them are as follows:-

1. Always buy quality products. They last longer and retain more value.

2. Always eat before you go grocery shopping. If you are hungry, you will end up eating/buying more food.

3. Never ask someone how much money he/she makes or how much something cost. Never tell someone how much your things costs. Never discuss how much money you make or have. Because it is ostentious and poor manners. Prove yourself by your actions rather than by talking about money. [Certainly, I do hope my own daughter will not grow up like that too].

4. If you borrow money, pay it back on time, if not in advance. Good credit is vital. A bad credit will haunt you for a long time.

5. Be wary. Learn that many men who look old enough to be your father or grandfather do not think of you as the daughter or granddaughter.

6. Take care of yourself. It is difficult to be successful if you aren’t healthy and well-rested.

7. Always be early for appointments. You will be much more efficient with your time and will make a very good impression since many arrive late – some repeatedly late.

8. Learn to stay calm – especially in times of pressure or turmoil. You will make much better decisions plus everyone will soon notice you are calm under pressure when others are not.

9. Last but not least, and this is also one of the things I would want to instill in my daughter – As you get older, you will have to deal with boys. The basic principle is – They need you more than you need them. They will make millions of promises in their frantic pursuit of you. Just ignore them and stay true to yourself. Don’t let compliments and flattery get into your head. Do not follow the boys to a different school or job, etc. Make the boy follow you.

Interesting read!

Monday, April 12, 2010

Leasehold Property on Freehold Land

Over the weekend, I visited the showflat of The Shore Residences, which is strategically located opposite Katong Shopping Centre. I am not exactly looking for a residential property at the moment because I think the price are way too high now. So I just wanted to pop in for fun.

Anyway, I was offered 5% off the launch price if I commit on that day. Despite that, the asking price (after discount) for a 2 bedder still came up to a whopping S$1,370+ for a 103 years leasehold property.

I recalled that this piece of land was supposed to be freehold and found it weird that the developer is selling it as a 103 years leasehold development. It was only after further questioning that I realized that the developer is releasing only 103 years lease for sale though it is a freehold land. Wah, new tactic!

Personally, I would never want to touch this development! Simply because, after a certain number of years, if this developer decides to take back the land, these property owners would have no other parties to sell to except that land developer. Property owners, in my view would be held ransom at the price that the land developer is willing to pay. What a raw deal they have gotten themselves into! And I really wonder whether they know what they have gotten into? Seriously, if I hold a private property, I would want to have the option to sell it the land enbloc to whoever is the highest bidder, isn’t it?

How different is this type of arrangement from HDB which is 99 years and government can take back these housing anytime they want to. For such developments, prices should be marked considerably lower than what they are offering now. I hope this is not the trend going forward, otherwise, land will be perpetually held by such big developers who will control and continue to hold land prices at exorbitant prices. Sigh…

Wednesday, December 23, 2009

Marriage - Freehold vs Leasehold

I have always hear people talk about property - freehold vs leasehold.

And one often attach a higher value to freehold properties, for the simple reason that freehold properties last forever, while leasehold properties last only the remaining lease it has left.

I remember watching a documentary on TV about marriage a few years back. The topic was on why marriage don’t last long nowadays. Besides that, the documentary also discussed the increasing trend of older couples in their twilight years filling for divorce.

The common belief is that aged couples, having stayed together for so many decades, will stay together until death do them part. Hence I thought that was a very interesting phenomenon.

From the episode, the counselors shared that many older couples had been focusing too much on their children. As such, when their children grow up and start their own family, the older folks are left to face each other. That is when they start to realize that their spouses are like strangers to them because their attention for the past two decades, has always been on the children. Squabbles start to creep in, and over time, they found it increasingly hard to face each other everyday…


I have learnt from the documentary that especially for couples who have kids, it is important to find time to reconnect with your spouse. If you are both working, do find time to take half a day off for you to have meals together, catch a movie, or do anything that both of you enjoy. It really takes a conscientious effort especially when we have babies as the tendency is to focus (fully) on the little one. If the couple don’t work out eventually, do you think the little one will be happy?

As what the marriage counselor said,

“Your spouse is your freehold property, while your children are just twenty year leasehold property”. As such, where should your focus be?

I want to etch this statement in my memory so that I'll make sure I balance my attention and time properly between my spouse and children

Tuesday, December 22, 2009

My Resolution for 2010

MY FINANCES
• Save at least $2,500 per month. [that is, save $30,000 per annum]
and $10,000 from bonus.
• Target to have $600 in passive/portfolio income by end 2010.
• Review my and baby’s insurance plan.

MY HEALTH

• Brew tonic (for my family once a month).
• Drink bird nest once a month (for my whole family).
• Take Vitamin C & calcium supplement everyday.
• Once I stopped nursing my baby, to drink Yomeishu every alternate days.
• Make fruit juice for hubby and myself once a week.

MY FAMILY

• Spend quality time with family.
• Have lunch with hubby at least once a month (just the 2 of us)
• Read to my baby everyday.
• Bring baby out at least once every weekend.
• Go for (at least) 2 tours; Malaysia & Japan/Australia.
• Plan for baby no. 2 in the second half of the year.
• Learn to cook 6 new dishes.

SOCIAL LIFE
• Meet up with at least 2 different friends a week for lunch.

Wednesday, December 16, 2009

Khaw Boon Wan - On Life Expectancy

I chanced upon Health Minister Khaw Boon Wan’s blog today and came across an email interview that he had with Shin Min Daily News on life expectancy. This article was carried in Shin Min on 26 September 2009.




Shin Min: What is your personal opinion about a longer life expectancy? Do you have a goal to live until a hundred?

Minister Khaw: Long life is always desirable. Hence we wish each other 长命百岁 (‘long life 100 age’) and 寿比南山 (‘age as long as Nan Shan’). But as medical science succeeds in "adding years to life", we have now moved to the next phase of aspiration, of "adding life to years". Meaning, not simply having a long life, but a good quality, healthy, happy life with financial security and loved ones around you, and without pain or disability. Above all, Premier Wen Tian Siang's comment: "who does not die? Key is do you leave behind a sound reputation" That should guide our lives: we are here to help others and to touch their lives; not simply to enjoy ourselves.




It is very interesting and how true. All of us wish for long life. But will we really be happy when we grow old?

If I have to choose between a long life saddled with sickness and pain, or a shorter but healthier one, I think the choice is clear. All of us would want to grow old happily, healthily and perhaps see our grandchildren grow up and not having to worry about financial security.

So what should we do to achieve all that? ……

Yearly resolutions are baby steps that we can take towards our long term goals… As I sat down to do up my personal resolution for coming year, I am thinking if there is anything I can do to incorporate these long term goals into my resolutions for me and my family.....

Thursday, November 26, 2009

Lending Money to Friends

Have you ever had friends who borrow money from you? I had 2 bad experiences in the past.



My first experience - my colleague’s boyfriend got into trouble with the law (or as I was told) and had to raise money for bail. His sister was hospitalized due to heart attack and so they had to approach me instead. Promise was made to repay me within 2 weeks. But as it turned out, 2 weeks became 1 month.. and by third month, still no news from her. I subsequently realized that she went Bangkok for a shopping holiday. Gosh! Got money to go for holiday but none to pay me back first. In the end, it took me another 4 months of chasing to get the $1000 back from her.

My second experience was to another colleague, who promised to pay me back the following week. In the end, after waiting for 3 months, my calls were met with empty promises and escalated to call-rejections. I really blew my top, man!


I came to realize that while I agreed to part my hard-earned money to help my friends tie over their rough patches, it was met with undue stress and heartaches. I had lost the friendships because I was too disappointed with the manner I was treated. I refused to talk to them subsequently.

I have learned from these bad experiences that –unless you are willing to write off loans to friends, don’t lend. If you really have to, then you must be mentally prepared that your hard-earned money may never come back.

Very often, when such request comes, it is always a tricky situation. As such, it is up to you to assess how important is the friendship to you? Is it worth keeping? Have they tried and exhausted all other means, such as applying for unsecured credit loans from banks before approaching you? Or are they just taking you as an easy way out – interest free loans.

If you are lending, would you want to consider getting your friend to sign an IOU which spells out the loan quantum and repayment schedule? (while it may not be legally binding, at the very least, if he/she is willing to sign one, it probably shows a little more commitment to repay you back).

Tuesday, November 24, 2009

We are the Sandwiched Generation

Our generation is in the worst situation; simply put, the sandwiched generation. Given our asian values, we have to take care of our aged parents as the folks thinks that it is the children's responsibilities to take care of them when they grow old. (Well, I’m not disputing that!)




However, we also have to take care of our own children, until they are financially independent.

For those guys out there, whose wives are not working, they will also have to provide for their wives. I guess my hubby is lucky in that aspect.

I hope to put to a stop to this at my generation. Things are getting so expensive now, with HDB flat calling for over S$600k and sub-urban condos, easily transacting at close to S$1 million.

Seriously, I hope to be able to save enough for our retirement nest, so that my baby girl does not have to be financially overburdened when she grows up. I know things will only get worse when her time comes and I can’t bear to even think about it. Sigh…