Mass exodus and some updates

1. Work

Workplace is seeing heaps of mass exodus. This is what happened when a company is bought over (before 2020)

New leaders will bring their people onboard and things will change for sure.

2. The stock market

Portfolio is taking a big hit with recent rout, loaded 10k on Ping An, still have 150k of warchest to deploy this year… dunno what to buy liao, headache.

Fear?

A friend was sharing his take to periodically pay off his hdb loan with a lump sum of cash. So I question why he would want that? He felt if he is not actively investing then at least he should be reducing debt.

I thought he was jumping to part 2 of an equation too fast. So I probed how about the part of getting his finances thought through for the desired retirement age to the age of 65 where he would get his cpf payout? I questioned if you get that sorted out, then whatever disposable cash you want to do is at your wants. He didn’t give any answer, which probably he never thought it through.

So I asked why not take the middle path, why not finance home loan with a bank instead of Hdb and use some lump sum payment to offset Hdb loan periodically but at the same time have an equal amount of that lump sum to invest.

Then he followed and said I was aggressive, made him feel he was wrong and I was right.

It isn’t a matter of right or wrong, if you clam up or become defensive, there is really no point in expressing the logic. I felt like that’s “wow, that’s what I get for trying to help you see a different perspective because I care”

if you think otherwise just stop me in the track to say thanks for sharing and I’ll see how it goes.

If someone wants to share a statement he cannot expect no response back, that’s freedom of speech. Unless he disclaim and say I want you to listen but don’t say anything back.

Well perhaps I’ll just keep my comments next time and just lend my ears as dumping ground, and the friendship will not evolved.

Anyway I wrote the friend a long text and be prepared not to be understood. True friends are willing to speak uncomfy topics. I’m prepared to walk away from the close friendship if he is responding in defensive mode. I won’t want to be in a friendship that I need to tip toe around.

Big spending 2021 (discretionary spending)

– yaman face device approx $880

– iPhone 13 mini including MagSafe casing $450 plus after voucher

– health products $1058

– beauty /personal care $2,000

– gifts $2,000, iPad mini 1.2k for mister, gifts etc to parents / family

– clothing /shoes $500

– hairdresser $1,000

– sports equipment $100

– wfh essential $400 monitor, keyboard

– home: $688 dyson fan & beanbag

– kindle plus cover $170

– reflection:

Expected to cut down on above for 4.5k this year. discretionary total should be aiming for 6k this year.

First thing in 2022

The moment I woke up to on 1st Jan 2022 morning was the reminder scheduler to top up SA. So 8k was transferred via paynow and current balance (minus OA investment) is at

Inching closer to the goal set to achieve FRS in SA…

Have a blessed 2022 everyone!

Random: Black Friday and remote worker

On Black Friday:

Super proud of myself on not succumbing to unnecessary spending on black Friday. The temptation is real, FOMO is human weakness…. The weekend temptation is finally over! Phew

On wfh or remote working:

I thoroughly enjoyed the 100% remote working mode after being a “Covid employee” (employed during Covid period) for a year now.

When we exit from the Covid, I’m not sure how well will I adapt back to the working at a physical location. It will take time…

Oh well, if I’ll to look for future jobs I would start to favor remote work if it’s offered.

You Will Probably Spend up to $427,035 by Age 30

Let’s see how I fare against this chart from seedly

Picture from Seedly

Study loan: $0, was blessed to be sponsored by mum in overseas studies, and return in favor with mthly allowance when starting working

Resale: 239k (cpf). 31k cash outlay for 2nd home. Can’t remember first home cash outlay including cov.

Marriage: 5k, did a sit down close door 2 tables during ROM including simple dress and photography. No Chinese banquet done as we feel too shy to have attention all on us and a waste of money.

Renovation: 50k for both homes after offset profits from first home sales

Child: none as we are dink by choice

Total: approx 23% less than the average spent 427k projected

Housing takes up a large part of expenditure. It’s best to get a BTO (not sure with current predicament that’s possible for most) and do minimum renovation if possible.

Nov updates

OAC Endowment that has been running for twenty years will mature and due for payout end of this month, I do not have any high hopes of return. Well it’s the folly of youth since 21 year old, perhaps the only consolation is the monthly premium is insignificant.

Work wise, mass exodus is happening. There are re org and uncertainty. Old birds are flocking elsewhere. Just got over one year tenure, not sure when the new boss is coming on board. Shall thread carefully. 9 more years to coast FI is the motivation at work now.

Cpf FRS is projected to reach in Dec 2023. Going to top up $8,000 each to my own and mister SA in Jan 2022.

OA balance projected to be self sufficient in Apr 2024 to pay off remaining home loan.

As of now:

– Have about 100k of warchest to invest and doing research on what to on board.

– Keeping 118k cash for emergency fund

– Finding happiness outside of work is important. I am spending more time reading and with family these few months

– Practice meditation to calm futile anxiety and help focus better

– Went through a volunteer interview with a local charity, hopefully can match skillsets and availability to their programme

– Depending on the workload for next year, if it is less hectic, would considered going for a NAFA certification in Chinese calligraphy which can be offset using skillsfuture credit.

Assessment of current work

My boss (let’s call A) has left due to personal issues and we are going through a reorg from not so recent acquisition.

Both A and my headcount (pay cheque) is from our dotted line – U. Obviously I roll up to A who recommended and hired me.

A’s solid line is regional lead H, whom is not exactly fond of A. Why H is not fond of A? A was parachuted (hired) in by O (U’s boss), O was a former peer of H but now higher ranking (ego between boys?). With A gone, my solid line is to H until reorg is confirmed.

U is not particularly fond of A as well, they were ex colleagues and have heated conflicts and arguments before.

Plus U & H do not seem to be on same page (power play / ego).

Sounds complicated right? Well basically I’m in a minefield, I can’t help but feel stuck.

In order to survive in this lonely role where there are no natural allies, I need to be consistent in effort, excel and communicate to the H & U regularly in order to gain recognition and of value. Understanding their agenda and helping them to achieve it is the key.

My networking skills as an INFP is not exactly great. At this age, to go places it is important to have connection. I’m good with people, but it’s not my style to “SAR KA”, mingle and network for the reason of career advancement. Unfortunately, this is how the world roll most of the time.

The road ahead is tough, but I’ll have to face it nevertheless.

I’ll see how things pan out, I may consider moving to other department (backend) if there are vacancies after a stipulated tenure in this role.

Meanwhile I will continue to work on coast FI – counting down to 36 quarters of work or earlier!

JIAYOU to myself!