The Golden Rule has changed

HSBC has done an interesting survey lately, on How much Singapore parents willing to scarify to send their child to University

Source: http://www.straitstimes.com/business/economy/how-much-are-singapore-parents-willing-to-sacrifice-to-send-their-child-to

Parents are seeing that, University degree is a golden ticket to enable the kid to be successful in future. 

Globally, they are willing to forked out $15,623 yearly just for the children University fees. It's currently the third in the world. 

Is this Golden rule still hold true? 

"Go to school, study hard, and get good grades so you can get a secure, high-paying job with benefits—and your job will take care of you"

This is Industry Age thinking, In industry age, it's all about mass production, industrialization, whereby there are lots of labor works involved. Those who are able to graduate from University are highly respected and claimed to be able to have higher earning power. 

The Golden Rule has changed, we are no longer living in that era. We are now in Information Age. Thanks to the technology advancement, the world shrinks. 

Everything is globalized. Jobs are outsourced to cheaper locations easily, merger and acquisition happens just within few clicks, jobs can be automated instantly

Source: http://www.todayonline.com/singapore/employers-urged-retrain-workers-automation-destroys-old-jobs

You can see in major news headlines, highly trained professionals are out of job and it's getting harder to get back to workforce. 

Retrenchment is getting worst 

Source: http://www.straitstimes.com/singapore/highly-trained-middle-aged-and-out-of-work

Have you heard of ESBI? 4 ways to Produce Income

Picture courtesy of richdad.com

E - Employee

S - Self Employed

B - Business Owner 

I - Investor 

Which do you want to be? 

95% of wealth are at the Right hand side at Business and Investment, which gives Passive Income 

5% of wealth are at Left hand side at Employee and Self Employed, which gives Active Income

I used to be one of those who study hard, obtained my Asean Scholarship to study in NUS, going after Golden Rules. 

While I was chasing after corporate ladder, I have seen how retrenchments happen at many of my seniors while I was working in Investment banks.

Thankfully that I have decided to make a switch in my destiny. 

Given that I am going to work hard anywhere, why not I choose to work hard to build my Business System, to be Business Owner ?  

Given that I am going to work hard anywhere, why not I choose to work hard on Passive Income? 

Do you agree with me, you are architect of your life? 

If yes, click on below QR Code or whatsapp me at +65-90263064, to find out more how you can build your Business System too. 

The meaning of life is find your gift, the purpose of life is to give it away 

Have you found your gift?

Siew Choon

90263064

Ultimate Freedom Coach

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The meaning of life is find your gift, the purpose of life is to give it away 

Have you found your gift?

Siew Choon

90263064

Ultimate Freedom Coach

How I see Retrenchment?

Dear friends,

How do you see retrenchment?

"Ms Chew Siew Yin, 50, a production manager, had worked 28 years in the same company when she was laid off in December. The electronics manufacturer decided to move out of Singapore due to rising costs.

Still, the mother of three considers herself lucky: Her severance package and husband's salary are cushioning the loss of her $6,000 monthly income.

"We don't have many financial commitments - our car was scrapped last year and the housing loan is paid up, so we're not hit so badly," says Ms Chew, who is taking a break before job hunting.

"Some of my former colleagues have young kids or loans, and they are desperate to find a new job."

Layoffs climbed 20 per cent to 15,580 last year as restructuring, combined with the fallout from the global economic slowdown and the rise of disruptive technology, prompted more firms to let staff go"

There are more news as such:

Seagate lays off 1,600 in Singapore; more cuts possible

http://www.straitstimes.com/singapore/highly-trained-middle-aged-and-out-of-work

http://www.straitstimes.com/business/banking/barclays-laying-off-100-employees-in-singapore

There are many more stories like this, which affected family

Will Retrenchment happen to me? hmm

Well, retrenchment may not happen to us now, as we are still young. What happen when we come to age 40? Age 50? or 60?

By the time when we have all commitments in mortgage loan and family commitment with kids. Are we well prepared now?

Certain circumstances, retrenchment may not happen. 

When approaching age 50-60, do you want to continue exchange time with money? 

What kind of lifestyle do you want to live?

What is your definition of Success?

In the past, my definition of success is

High paying job in big MNC, with a good rank and leading a team to show status. That's the reason why I choose to join top tier investment bank 

However, when I look at directors, VP and even my peers in my company, I don't think I want that kind of lifestyle

When my vision get broader, I realise the real definitely of success is

Having Money, Time and Health, all together. 

Often, we just look at Money as indicator of success.

Time and Health are 2 precious intangible assets that we don't recognize and appreciate until they have been depleted

What about you?

The meaning of life is find your gift, the purpose of life is to give it away 

Have you found your gift?

Siew Choon

90263064

Ultimate Freedom Coach