Below are the 20 most recent journal entries recorded in RayWing's LiveJournal:

[ << Previous 20 ]

Monday, October 12th, 2009
1:47 am	加油！ 冒牌大英雄的七十二編胖子，加油！ 超級電腦的疯狂冰咆哮小冰，加油！ 異俠的自在大大，加油！ - 新加坡的忠實書迷 (Poke me!?)
Friday, June 12th, 2009
1:15 am	Recruiting for Part-Time and Full-Time staff Raffles Business International (RBI), established in Singapore since 2005, has been actively involved in providing leadership trainings and organizing entrepreneurship awareness events. The company provides a platform that enables the inspired individuals to get together at one common point, share and learn the traits of businesses and leadership skills. In addition, with a sound business proposal, you may be on your way to lead a new company.   We are recruiting Part-Time Marketeers and full-time Business Development Executives to help expand our business. PART-TIME MARKETEERS   Job Scope   Primary job scope includes : -                     Distributing flyers (Streets) -                     Distributing flyers (Door-to-Door)   Secondary job scope includes : -                     Conduct surveys (Streets) -                     Conduct surveys (Door-to-Door) -                     Sale of seminar tickets -                     Telemarketing / Follow-up   Requirements   -                     Preferably bilingual in both English and Chinese.   Other Information   -                     Flexible working hours adjusted to your availability. -                     Hourly wages with sales commissions + travel allowance. -                    You’ll work generally near your home areas, but may be required to be stationed in town areas occasionally. FULL-TIME BUSINESS DEVELOPMENT EXECUTIVES   Job Scope   Primary job scope includes : -                     Monitoring of Part-timers’ KPI, activities and procedures. -                     Handling of Part-timers’ administrative and logistical needs. -                     Reporting and assisting of the Business Development Manager. -                     Recruitment of Part-timers.   Secondary job scope includes : -                     Conduct simple training and coaching to Part-timers. -                     Handling sales and recruitment enquiries.   Requirements   -                     Preferably bilingual in both English and Chinese.   Other Information -                     Salary will be a combination of basic, allowances as well as commissions. -                     May be required to travel to different locations.       Interested parties can contact Andy Ng (Business Development Manager) at 96941382, or email your enquiries or resume to andyng.rbi@gmail.com.   You can find out more about the company at http://www.rbi.com.sg.   ------------------ Please help me pass this info around. Thanks! (1 poke | Poke me!?)
Sunday, May 3rd, 2009
3:49 pm	And then the fight started... My wife sat down on the couch next to me as I was flipping channels. She asked, 'What's on TV?' I said, 'Dust.' And then the fight started... ------------------------------------------------------------------------------------------------ My wife was hinting about what she wanted for our upcoming anniversary. She said, 'I want something shiny that goes from 0 to 150 in about 3 seconds.' I bought her a scale. And then the fight started... ------------------------------------------------------------------------------------------------ When I got home last night, my wife demanded that I take her some place expensive... So, I took her to a gas station. And then the fight started... ------------------------------------------------------------------------------------------------ After retiring, I went to the Social Security office to apply for Social Security. The woman behind the counter asked me for my driver's license to verify my age. I looked in my pockets and realized I had left my wallet at home. I told the woman that I was very sorry, but I would have to go home and come back later. The woman said, 'Unbutton your shirt'. So I opened my shirt revealing my curly silver hair. She said, 'That silver hair on your chest is proof enough for me' and she processed my Social Security application. When I got home, I excitedly told my wife about my experience at the Social Security office. She said, 'You should have dropped your pants. You might have gotten disability, too.' And then the fight started... ------------------------------------------------------------------------------------------------ My wife and I were sitting at a table at my high school reunion. I kept staring at a drunken lady swigging her drink as she sat alone at a nearby table. My wife asked, 'Do you know her?' 'Yes,' I sighed, 'She's my old girlfriend. I understand she took to drinking right after we split up those many years ago, and I hear she hasn't been sober since.' 'My God!' says my wife, 'Who would think a person could go on celebrating that long?' And then the fight started... ------------------------------------------------------------------------------------------------ I took my wife to a restaurant. The waiter, for some reason, took my order first. "I'll have the strip steak, medium rare, please." He said, "Aren't you worried about the mad cow?" "Nah, she can order for herself." And then the fight started... ------------------------------------------------------------------------------------------------ A woman is standing nude, looking in the bedroom mirror. She is not happy with what she sees and says to her husband, 'I feel horrible; I look old, fat and ugly. I really need you to pay me a compliment.' The husband replies, 'Your eyesight's damn near perfect.' And then the fight started..... ------------------------------------------------------------------------------------------------ I tried to talk my wife into buying a case of Miller Light for $14.95. Instead, she bought a jar of cold cream for $7.95. I told her the beer would make her look better at night than the cold cream. And then the fight started.... ------------------------------------------------------------------------------------------------ A man and a woman were asleep like two innocent babies. Suddenly, at 3 o'clock in the morning, a loud noise came from outside. The woman, bewildered, jumped up from the bed and yelled at the man 'Holy crap! That must be my husband!' So the man jumped out of the bed; scared and naked jumped out the window. He smashed himself on the ground, ran through a thorn bush and to his car as fast as he could go. A few minutes later he returned and went up to the bedroom and screamed at the woman, 'I AM your husband!' The woman yelled back, 'Yeah, then why were you running?' And then the fight started..... ------------------------------------------------------------------------------------------------ Saturday morning I got up early, quietly dressed, made my lunch, grabbed the dog, and slipped quietly into the garage. I hooked up the boat up to the truck, and proceeded to back out into a torrential downpour. The wind was blowing 50mph, so I pulled back into the garage, turned on the radio, and discovered that the weather would be bad all day. I went back into the house, quietly undressed, and slipped back into bed. I cuddled up to my wife's back, now with a different anticipation, and whispered, 'The weather out there is terrible.' My loving wife of 10 years replied, 'Can you believe my stupid husband is out fishing in that?' And then the fight started... ------------------------------------------------------------------------------------------------ I asked my wife, "Where do you want to go for our anniversary?" It warmed my heart to see her face melt in sweet appreciation. "Somewhere I haven't been in a long time!" she said. So I suggested, "How about the kitchen?" And that's when the fight started.... ------------------------------------------------------------------------------------------------ My wife and I are watching Who Wants To Be A Millionaire while we were in bed. I turned to her and said, "Do you want to have sex?" "No," she answered. I then said, "Is that your final answer?" She didn't even look at me this time, simply saying "Yes." So I said, "Then I'd like to phone a friend." And that's when the fight started.... (Poke me!?)
Friday, February 6th, 2009
12:09 pm	Looking for website programmer Requirements :  - Web-based portal - Database and shopping cart knowledge required Interested people pls contact me at raywing00@gmail.com or my handphone at 96941382. (Poke me!?)
Saturday, October 25th, 2008
6:20 am	MM Lee speaking of Singapore Economy The Straits Times Jan 8, 2008 MM LEE AT ISEAS 40TH ANNIVERSARY DINNER Singapore fine for next 5 to 10 years Country will be elevated to a new economic status comparable to that of Italy, Austria if growth continues SINGAPORE is poised to grow in the next five years even if there is a slowdown in the American and European economies, predicted Minister Mentor Lee Kuan Yew last night. And if its growth continues for yet another five years, Singapore will be elevated to a new economic status comparable to that of Austria and Italy, he added. Thus, it is important that Singapore consolidates what it has today to strengthen its position. 'We are now at the table with a very large number of chips,' he said. 'Let's move cautiously.' Mr Lee was speaking to some 700 academics and government leaders, including Foreign Minister George Yeo and Finance and Education Minister Tharman Shanmugaratnam, at a dinner marking the 40th anniversary of think-tank Institute of Southeast Asian Studies. In an hour-long dialogue, he fielded 12 questions that ran the gamut from Asean unity to Singaporeans' social graces. Mr Lee's comments on the economy come just days after the Government announced a forecast of more moderate growth of 4.5 per cent to 6.5 per cent for the year. The projections come against a backdrop of concerns over rising costs and a slowdown of the US economy. At last night's dialogue, a member from the Deutsche Bank asked Mr Lee what his 'inspirations and dreams' for Singapore were. The elder statesman painted a picture of how the country's economy would look like in the next decade. In five years, Singapore will be 'at a different plateau'. 'The old Singapore, we are leaving behind,' he said. He explained why. Even if there was a slowdown in the US and Europe, the Chinese and Indian economies would continue to grow from 8 to 11 per cent, giving Singapore 'an extra lift'. The two integrated resorts and the Formula One coming to Singapore will boost the tourism and hospitality industry. Already, the property market and the banking and financial services industry are reaping the benefits. 'So at the end of five years I think we should be, barring accidents, at a different plateau. If that continues for another five years, I believe we will be more like, say, an Italy or an Austria of today, which isn't bad, considering where we started from,' said Mr Lee. Italy is a member of the Group of 7 (G7) rich industrialised countries, and Austria is one of the 10 richest countries in the world in terms of GDP per capita. This is a far cry from Singapore in its early days. Said Mr Lee: 'We had zero reserves in 1959, and in 1965 not many people gave us high ratings for survival, never mind success. 'So just be grateful that we are where we are and be mindful that we consolidate what we have and don't risk it.' He concluded: 'We should be doing all right for the next five to 10 years.' By Li Xueying xueying@sph.com.sg (Poke me!?)
Thursday, October 23rd, 2008
12:14 pm	A poke at the Credit Crunch Entries from a new financial dictionary : Broker: What my stock adviser has made me Standard & poor: Your life in a nutshell Cash flow: The movement your money makes as it disappears down the toilet. Q: What is the one thing Wall St and the Olympics have in common? A: Synchronised diving Q: How do you define optimism? A: A banker who irons 5 shirts on a Sunday. Q: What's the difference between Investment Bankers and London Pigeons? A: The Pigeons are still capable of making deposits on new Ferraris Q: What's the difference between an investment banker and a large pizza? A: A large pizza can feed a family of four. Q: Why are all MBAs going back to school? A: To ask for their money back. Q: What have Icelandic banks and an Icelandic streaker got in common? A: They both have frozen assets Q: For Geography students Only: What's the capital of Iceland? A: About Three Pounds Fifty... Quotes of the day "I've re-named my morning bowl of muesli at the desk Credit Crunch." "I had a cheque returned earlier. "Insufficient Funds" - Mine or the bank's?" "This is worse than a divorce. I've lost half my net worth and I still have a wife." (1 poke | Poke me!?)
Friday, October 10th, 2008
5:19 am	THE FINANCIAL MELTDOWN 2008 What It Means to You It's easy to feel panicked with titans of the financial world like Lehman Brothers, Merrill Lynch and AIG either failing, selling out, or getting taken over by the government this week. The financial world is truly in crisis, but that doesn't necessarily mean your money is now at risk. Take a deep breath and read on as we take you through 12 personal finance topics and explain what the mayhem on Wall Street means for you. 1) What it means for ... Your Stocks No doubt about it, the market is going to be swinging wildly for the next few months. Predicting the direction of stocks is all but impossible, but it seems likely the major indexes will be down from here at year-end. That doesn't mean you should sell. But if you will need some of that money in the next year or two, use upswings as an opportunity to gradually exit your riskiest positions. 2) What it means for ... Your Mutual Funds Many mutual funds have been heavily weighted in financials (especially value funds, which buy stocks that seem cheap), so you may be feeling the pain now. But you can bet your fund managers are working feverishly to recover. If you sell now, you miss out on a chance at a rebound. Still, in times like these, index funds prove their mettle. At least you don't have to worry about doing worse than the market. 3) What it means for ... Your Bonds Treasury bonds are increasing in value as demand for the safest of securities soars. Bond funds are holding up quite well this year. To be sure, some funds that held corporate bonds issued by Lehman Brothers and other failing financial institutions have taken it on the chin. But if you had your savings in government bonds, you should be feeling pretty pleased with yourself about now. 4) What it means for ... Your Home As long as you can pay your mortgage and don't plan to move in the next two years, you don't have to worry about a thing. The current crisis may mean pricey neighborhoods populated by finance types slip in value. And the weakening economy will keep pressure on housing prices across the country. But rates are falling and that should stabilize housing values. 5) What it means for ... Your Mortgage Even if your lender fails, you still need to pay your mortgage. It will likely just be transferred to another institution. And there is some good news here: Mortgage rates are headed lower and banks want to make profitable loans to people with good credit, so you may get an opportunity to refinance at a lower rate soon. Home equity lines of credit are also a good deal now. 6) What it means for ... Your Retirement Accounts If you have at least five years until retirement, don't worry about a recent decline in your plan's value. Don't even check the balance if you can help it. The only caveat to that is if you have company stock in your retirement plan or are not properly diversified. Look at historical returns. Even severe down turns seem insignificant over time as the market historically rises. And plan assets are protected, even if the sponsor fails. 7) What it means for ... Your Savings Accounts If your savings is in an FDIC-insured bank, up to $100,000 in deposits is protected. Even if the fund that insures those accounts is tapped out, the government would cover your balance. If your cash is in a money market mutual fund, you don't have FDIC protection, and there is a slight chance you could lose a few cents on the dollar and face limits on withdrawals. A bank money market account is an even safer bet. 8) What it means for ... Your Insurance Since AIG, the worlds' largest insurer is getting bailed out by the government, you don't need to worry too much about your policy for now. In fact, you probably wouldn't have had to worry even if it had failed, since AIG's consumer insurance subsidiary was never in trouble. Plus, in cases where an insurer goes bankrupt, the state regulator takes over and makes sure policies (including annuities) are paid. 9) What it means for ... Your Credit Cards For starters, keep in mind that even if your credit card company fails, you still need to pay your bills. Your account would just be moved to another lender. Also note: Banks will be looking to increase profits by issuing more credit to folks with good records, but it won't be cheap and penalties and fees may increase. Be extra careful now NOT to run up costly credit card debt. It may be harder to pay down in a weaker economy. 10) What it means for ... Your Brokerage Accounts The government protects brokerage customers from losing assets due to a firm going bankrupt (for more information, visit www.SIPC.org). Even at Lehman, customer accounts seem to be quite safe now. However, it is very difficult to get back money that was badly invested by you or your stock broker. And the stock of companies that declare bankruptcy are usually worthless. 11) What it means for ... Your Ability to Borrow Money If you have good credit, you may find it easier to borrow money in the future, due to the current crisis. Interest rates on some kinds of loans are coming down and banks are eager to increase profits by lending. But be careful of taking on too much debt in case the economy worsens and it gets harder to pay it back. If you have weak credit, you may be out of luck. 12) What it means for ... The Economy This is probably the biggest worry for the average Singaporean. Can the economy keep growing amidst a global credit crisis (and a falling dollar, rising unemployment and inflationary pressures)? Recession is more likely, which means heightened job insecurity. So, start saving. If you can't cover at least three months of expenses should you become ill or lose your job, go on an austerity plan. A cash cushion is the best umbrella in this financial storm. (Poke me!?)
Thursday, September 25th, 2008
2:30 pm	Since SEAN don't have the guts to show others the total shot-down that I replied to him... Too bad I saved a copy, eh? Previous Summary for those who weren't following - Sean had made a "confirmed post about EOY being the last one", which got shot down by Zeph. In that post was a retarded comment "EOY is the last one unless the committee decides to have another go next year." I was greatly amused and I put up my msn nick ridiculing that comment. So our dear Sean here got all pissed and posted another retarded post on his livejournal. Being amused again and taking a break from work, I made a reply to his post, which totally shot down every line that didn't make sense in his post (which is, as usual, almost everything). Now it seems that Sean got smarter this time - he removed all the comments so everyone else can only see his accusations but not the truth! =D Either way, I had the entry saved, and here it goes.... (Those numbered lines are quoted from his post) ========================================================== Dear Sean, Since Kuni took the time to send me the link on this amusing entry and I'm taking a break, and probably many pairs of eyes are waiting to see some amusement.... 1) I want to say, "Deculture! Pick someone your own size." - You watch too much Macross. Please understand your own English before you use the word. How did you complete your thesis anyway?? *shakes head* - What has "size" got to do with this, I don't know. But knowing you... It's nothing surprising. 2) Is there no one else to entertain you Nobody had to entertain me. You are entertaining everybody. I just happened to be invited to sit in on a STAC comm meeting and heard them air their grievances and amusement about you (which was a side thing anyway apart from their serious discussions on other club matters), and someone even offered to send me that log of your entry, that's all. =) 3) after you lost to Sgcafe forummers on your own campaign to smear Kazuki after Cosfest 2005? There wasn't any childish "victory" or "defeat" to talk about. Kazuki doesn't need to be smeared. He's already what he is. Everyone is already aware. Dude, stop daydreaming. 4) And you need to pick someone to destress yourself as the financial and economical turmoil rages on this week. First, I'm stressed, but over other matters and not the financial turmoil, because if you have a proper game plan and understood it, you wouldn't panic over the current financial situation like so many other people are. Secondly, I didn't pick on you dude! You're displaying your own incompetence! XD 5) Before this MSN message you had as of yesterday and after all these years, I do not have anything against you for the sake of Yuanyuan, Eugin and Sakana . Ooh, who was the one who have been quoting me as tummynator or other whatnots on his blog from time to time? Suddenly become so holy and "I do not have anything against you"? Oh puh-lease. People following your blog and hearing your talk knows best. And just to help you realise how retarded you sound, your line is like saying "It is dead unless it is still alive." Couldn't let that joke slip past. Heh. 6) Even though I will not forget the fact that  you ask friends from the ACG circle to help you to be successful in your previous two MLM business, and left us there and that. One is NTI, which was absorbed into Sunshine Empire and the other was Coslab. The MLM businesses back then was supposed to be mutual. I help you, you help me. But after coming in what have you done at all? Attended any product training? Attended any skill training? How many group meetings have you attended despite me repeatedly asking? And you daresay I "left you there and that". Geez! I knew you were incompetent, irrelevant, inarticulate but I didn't know you were thicked-skinned too. *shrug* 7) The guy friends that you acquianted from the ACG scene, and to you only, are just merely people whom you will only seek for monetary aid and nothing more deeper can come out from that.   I am already friends with lots of guys, money or no money involved. Monetary aid? Apart from one benefactor whom I still owe a thousand thanks, which single one of you have given me any monetary aid at all? Don't be shameless. For whoever the guys reading this entry and actually feel the same way as Sean is, please go and think about it. Between me and you, who distant ourselves? Did I distant myself away from my guy friends? Or was it the other way round. Call up your own conscience to ask. I made COUNTLESS attempts to accept you as a friend even though you turned back to bite me every time, Sean. So much so until people tell me to give up on you, which I eventually decided they were right, because I'm too tired of your constant bite. 8) I almost want to advice Gao to let you share coach to KL with us in December as I heard from Eugin that Sakana is coming. But as of now, I will say that we go on seperate coaches. *chokes* Sean, oh Sean, oh, should I be thanking you for your "graciousness" to "let me share your coach" when almost every year I organize full-coach trip for the rest of the people?? *dies laughing* OH PLEASE!! Now Eugin and Yuan have to go on seperate coaches thanks to you. 害人不淺?，小憲。 9）As for those who let him know about that particular LJ entry, you have your day. -snip to save space- It is nothing to be proud of to bitch someone in the ACG scene. You are what you are  only , when you are out of this tiny part of the Singapore ACG scene. 若要人不知，鎖上部落格。 At least these people are people who proved their worth on the local scene. What about you? You aren't even anything on this scene. 10) I believe Malaysia ACG scene is worth supporting than the bitching section. *Recaps the number of blog entries people told me about Sean's bitching entries, decides to give up.* Ok, back to work. Thank you for providing a good break. I must say you are right about one thing - you are a good stress-reliever sometimes, and one that I didn't have to pick on either! *Awards you a lollipop*  =D Current Mood: amused (Poke me!?)
Friday, June 20th, 2008
2:19 pm	Quick and dirty update for the lost You know how sometimes people on your friend's list post about stuff going on in their life, and all of a sudden you think "Wait a minute? Since when are they working THERE? Since when are they dating HIM/HER? since when???" And then you wonder how you could have missed all that seemingly pretty standard information, but somehow you feel too ashamed to ask for clarification because it seems like info you *should* already know? It happens to all of us sometimes. Please copy mine below, erase my answers putting yours in their place then post it in your journal! Please elaborate on the questions that would benefit from elaboration! One-Word-Answers seldom help anyone out :) 1. First Name: Andy 2. Age: Going 31 this year in Nov 3. Location: Singapore 4. Occupation: Wealth Management Consultant (with IPP) Now before anyone equate me to an insurance agent or a bank salesman again, we do much more than insurance or investment sales. If you ask me what business I am really in, I'd say it's a large part on education - educating my clients on how to move forward, how to achieve their financial goals, educating them on financial matters, helping them with their financial decisions. 5. Partner?: Soon.... Dinner gotta wait till 2010 at least though. 6. Kids:  I'd prefer large dogs, but I'm not so sure about her. 7. Brothers/Sisters: My siblings are complicated. Ahaha. 8. Pets: A fish at the moment? Will want a dog in the future. Huskies. 9. List the 3-5 biggest things going on in your life: 1. My career. Moving on ahead, striving for a breakthrough. 2. Getting married in Nov. 3. Building my financial future by investing in IGAs 4. Helping people who are willing to be helped to move along. 10. Parents: Dad is non-existant in my dictionary. Mom's most important than anything. 11. Who are some of your closest friends? Some I might regard as close friends but it might not be vice versa.  Maybe I won't answer this question as of now. (2 pokes | Poke me!?)
Saturday, May 10th, 2008
11:41 pm	FOREX FOR LUNCH, CURRENCIES FOR DINNER My brother asked me over MSN the other night : "Hey you know where can invest in Forex? Say if I wanna buy USD in small quantities, like $5k~10k, where best to get it? If you wanted to invest in USD, how would you go about doing it?" I'll take this opportunity to explain a little about Forex, investing in currencies. and the effects of leveraging. WHAT IS FOREX? In short, Forex is a term coined for "Foreign Exchange". The Forex (also know as Currency or FX) market exists wherever one currency is traded for another. It is by far the largest financial market in the world, and includes trading between large banks, central banks, currency speculators, multinational corporations, governments, and other financial markets and institutions. The average daily trade in the global forex and related markets currently is over US$ 3 trillion. (Source: Wikipedia - http://en.wikipedia.org/wiki/Foreign_exchange_market) Some people believe it to be "safer" than stocks and shares because (1) there is little chance of manipulation (2) currencies don't go bust to zero (well, in most cases, that is.) HOW DO I INVEST IN CURRENCIES? After some further discussion with my brother, I realised that he had thought of investing in USD mainly because it has depreciated a good deal (at the time of this writing, the exchange rate for USD/SGD is 1.00 : 1.3644) in the past few years, and he felt that it is "cheap" to "buy USD" now. While the rationale is sound, there are a few factors to look at. Firstly, his intention was to "buy and hold" the currencies, and expect to sell them off at a profit when it appreciates again. Now one have to understand that you don't do that through Forex, because when you deal with Forex, you do TRADING (short-term, or speculating), not INVESTING (mid to long term). Now, unlike the equity market, which generally goes up in the long run (provided the fundamentals are there), currencies trade in a range, and will not appreciate/depreciate indefinitely. That is because when a currency of a country appreciates, inflation and export/import of a country would be affected. Hence, a government would not allow it's currency to appreciate nor depreciate too much. So Forex traders capture their profits through short-term trades, which bounces within the trading range. Given this fact, for a rate of 1.3644 to climb back up to say, 1.7, which is the rate a few years ago, it would be a gain of about 33.56%. Now, if we annualize that at say, 3 years, it would mean an average of about 11.18% ROI per annum. While this figure alone might look good, (1) It may not appreciate back to 1.7 within the next three years (2) the upside potential gets less and less (3) When the economy runs, the equity market can run much faster than the currency, because there is little correlation between the two. Conclusion? If a mid-to-longer term investment is what the investor have in mind, there are other tools that would be more suitable for the investor, such as stocks and shares, unit trusts, or ETFs. SO WHY IS FOREX DIFFERENT? Forex is considered as a high-risk financial instrument compared to most other financial instruments - even more so for the inexperienced amateur investor. Why so? That is because Forex is a highly leveraged product. What does leverage (or gearing) means? It means that you are controlling an amount of instruments by paying lower than the actual cost of the instrument - often on borrowed money (And note that these borrowed money incurs interest too). Stocks and shares can sometimes allow up to 2x leverage (meaning you pay, say $1 for a $2 stock). Forex, however, can allow a leveraging ratio from 50x to 500x. So what's the effect of this leveraging ratio? Let's say, for example, if you trade on a 1:100x leverage, with $1000 USD, you can afford to "buy" $100,000 worth of USD. You actually do that by borrowing the remaining $99,000. So now, if USD goes up by say, 1 cent, your holdings would become $101,000. So your profits would be $101,000 minus $100,000 (your cost of $1000 plus the loan of $99,000), which would be $1000. That's a 100% profit. Sounds good? Now here comes the dangerous part - the reverse is also true! If the USD moves down by 1 cent (which is not uncommon), your holdings would become $99,000 - and you'll face a "Margin Call". When that happens, you are required to have backup cash in a separate Margin Account (something like a deposit with the FX firm). This is to ensure that if there is a further loss, the FX firm would not have to take the losses for you. If you are unable to answer the margin call, you'll be forced to liquidate your position. And in this scenario, your loss is $1000 - that's 100% of your invested capital!! What about 500x leverage? A mere 0.2 cents movement on the currency would be enough to take you out of that trade. So be very careful when forex promoters tells you that you are "betting small, winning big". You can in fact lose as much as you can win. SO SHOULD I STAY CLEAR OF FOREX? As previously mentioned, compared to many other instruments in the market, FX carries a relatively higher risk, because of the leverage as well as the volatility. However, one should not simply take this as a cue to say "stay clear of Forex". The important thing is, an investor should understand the risks behind, and how it functions. Before I end off this entry, I would like to highlight that there are many courses available on FX out there. Some courses claim that trading with their strategies is so easy that even a ten-year-old can do it. While it may be true, personally I would take that with a pinch of salt. While some of these strategies might work, or in fact very effective, most of the strategies that these gurus teach usually would involve a good deal of experience,  judgment, understanding, and prudence. So before you jump into these courses, make sure you do a thorough research (your due diligence) about the course and their strategies, before you invest your thousands in them. (Poke me!?)
Wednesday, May 7th, 2008
12:51 am	Good debts? Bad debts? A couple of days ago, a client of mine brought up a topic of his HDB loan. His question was, which is more worth it? - To take up a longer or shorter loan term? And to take up a higher or lower loan? His argument is, since stretching the loan term and taking up a higher loan would mean paying more interest in total, it wouldn't make sense to do so, right? Let's do some comparisons here. Assuming if you're buying a house that costs $300,000, you have a capital of $50,000 in cash, and a $2000 monthly budget for this house. Let's assume HDB loan fixed at a 3% p.a. interest, investment returns annualised at 9% p.a., and minimum downpayment at 10%. (Take note that the Time-Value-of-Money calculations below require the use of a financial calculator or a an Excel spreadsheet to calculate. If anyone is interested on how to do the calculations, feel free to drop me a line or message.) Let's take 4 scenarios : 1) Minimum loan of $250,000 after $50,000 downpayment, minimum loan term of 15 years 2) Minimum loan of $250,000 after $50,000 downpayment, maximum loan term of 30 years 3) Maximum loan of $270,000 after $30,000 downpayment, minimum loan term of 15 years 4) Maximum loan of $270,000 after $30,000 downpayment, maximum loan term of 30 years Scenario 1 : With MINIMUM of $250,000 and a MINIMUM loan term of 15 years, your monthly installments will work out to be $1,726.45 per month for the next 15 years. That leaves you with $273.54 every month to invest. Investing $273.54 monthly for the next 15 years would yield you $103,511.34. Now reinvesting this yield as the new capital, as well as a new cashflow of $2000 (since the loan has been cleared), for the next 15 years, your yield by the end of the total of 30 years would be : $1,154,092.56. Scenario 2 : With MINIMUM loan of $250,000 and a MAXIMUM loan term of 30 years, your monthly installments will work out to be $1,054.01 per month for the next 30 years. That leaves you with $945.98 every month to invest. Investing $945.98 monthly for the next 30 years would yield you at the end of total of 30 years : $1,731,864.87. Scenario 3 : With MAXIMUM loan of $270,000 and a MINIMUM loan term of 15 years, your monthly installments will work out to be $1,864.57 per month for the next 15 years. That leaves you with a measly $135.42 every month to invest every month, but this time you start with a $20,000 capital to invest. Investing $135.42 monthly for the next 15 years along with a starting capital of $20,000 would yield you $128,008.19. Now reinvesting this yield as the new capital, as well as a new cashflow of $2000 (since the loan has been cleared), for the next 15 years, your yield for the total of 30 years would be : $1,248,112.53. Scenario 4 : With MAXIMUM loan of $270,000 and a MAXIMUM loan term of 30 years, your monthly installments will work out to be $1,138.33 per month for the next 30 years. That leaves you with $861.66 every month to invest, along with a starting capital of $20,000 to invest. Investing $861.66 monthly for the next 30 years along with a starting capital of $20,000 would yield you : $1,872,106.06 As we can see from the comparisons of the scenarios, stretching out the loan term as well as taking on a higher loan significantly outperform trying to cut down on interests by reducing the loan term and taking a lower loan. Why is that so? The key idea here is that, a loan can be considered a good debt, IF you have invested the remaining budget in an instrument that can OUTPERFORM the loan interest. And at a mere 3% p.a. on the loan, there are many instruments in the market that would allow you to beat that interest rate fairly easily, and helping you achieve a higher retirement nest egg. Now before we end off this session, it is important to note that there are other factors that one should consider before making such decisions, such as your age, debt ratio, the type of loan, budget, type of housing etc. You should still consult a trusted financial advisor who is well-trained in the subject (note that by "financial advisor" here I do not refer to insurance agents, who are generally competent within only the scope of insurance, or bank agents who are only concerned about sales), before making such decisions, especially if you are not versed in the subject yourself. Cheers. =) (Poke me!?)
Monday, April 28th, 2008
5:03 pm	Learn to grow rich by playing a board game! ^^ There will be a Cashflow game next Sat. on 10th May, from 10am-1pm. Come and experience it and learn how to get out of the rat-race, while enjoying a board game with your friends! Tickets will be $12 per head, but if you can invite two friends to come along, your ticket will be subsidised. Interested parties please contact me! Let's move ahead on the road to success together.  =) Spread the news around! ^^ (Poke me!?)
Tuesday, January 1st, 2008
2:34 am	New Year Resolution for 2008! Dear Livejournal, This entry is for me to review and remind myself on what I set out to achieve by the end of this year. 1) Get ******* before October. 2) Lose 10 kg before Cosfest 3) Get back closer to God 4) Achieve a $60,000 annual income for this year 5) Lead someone along together on the path to understand and achieve financial freedom 6) Go to Taiwan for a tour and event 7) Clear all my debts before Sept 8) Do my last cosplay as Andre Janzur *nods to self.* (3 pokes | Poke me!?)
Saturday, December 22nd, 2007
11:09 pm	Xmas Party! For those coming on Monday, you can come after 6pm. Bring along some food and drinks, and a small present for gift exchange. The location is not my old house anymore, so reach AMK MRT just give me a call! ^^ (Poke me!?)
Thursday, December 20th, 2007
3:41 am	RayWing has fallen prey to Hatsune Miku!! For those who haven't heard about Hatsune Miku.... Miku - STAR! Haruhi Miku!! Wahahaha (3 pokes | Poke me!?)
Monday, December 3rd, 2007
12:15 pm	Christmas/New Year Party at my new place this year? As usual of every year, this year I gonna run a party again. This year my place is significantly smaller tho. But we have a comp and a laptop, a Wii, 2 DS, and some silly games we can plan to go around. Food I'm thinking of doing it potluck, or order or simply walk 5 mins to AMK Hub/Mac/Mos. Who's onz? =) (5 pokes | Poke me!?)
Friday, November 30th, 2007
3:05 am	New Milestone in Life Well ahem. Yeah, so now I'm thirty. Frankly speaking, there isn't too much impact, haha. It just came and went that way. Anyway, thanks to everyone who came for the party, and for those who left their well-wishes too. You people reminded me that I still have a lot of friends who are so real, so worth keeping. At times you may point out where I went wrong, at times you may share my troubles and burdens, and ultimately, you will be there. I guess this alone is my most treasured present.  *hugs* Resolutions hmm.... Hopefully I can get stablized and all, and get married by the next couple of years. I believe that as a MAN, it is every man's responsibility to give his loved ones security and comfort. I'm not going to give myself excuses like the road is tough, or lie to myself that I'm "contented", or blame things on others. I know that by limiting my own beliefs, I am limiting my own potentials. It's always easy to take the easy way out, telling myself that hey, I don't have to work so hard, or hey, why try to earn so much?  --- but like I always said, those are merely excuses to be lazy, to avoid facing reality. I'd rather be troubled rich than be troubled poor, and most importantly, as a responsible adult, I should be giving the best to my family. So yeah, the road to excellency is always under construction. There is no discounting on what I can achieve, what I should achieve, what I WILL achieve. =) New days, new year, new career... May this milestone in my life mark another new beginning. ^^ (5 pokes | Poke me!?)
Thursday, November 22nd, 2007
2:08 am	Bye bye Twenties, Hello Thirties Tohohoho.... Next Monday I bid farewell to my twenties. It's been a pretty eventful decade. Birthday wishlist? Hmmm I also dunno what I need now, cos I have a tendency to buy whatever I already need... Ok squeeze my brains.... Let's see... - Sleeve cuffings - Pen (the metal type) - Wrist watch (the metal type also) - Exploratory business interviews with open minds That's about it that I can think of now... probably will update more. Hohoho.... Current Mood: weird (6 pokes | Poke me!?)
Monday, October 15th, 2007
11:16 pm	Hot from The Straits Times - Choosing the right financial advisor Oct 14, 2007 Choosing an adviser for your insurance needs Almost every adult in Singapore buys insurance but most take the easy route of relying on financial advisers and insurance agents to make sense of a technical topic. LORNA TAN offers tips on how to pick a capable adviser. IN RECENT years, there has been a proliferation of consumer guides to help people make better choices when buying life insurance. This shows that people are becoming increasingly aware that insurance is an essential aspect of money management. It also shows that they need help to work their way through a maze of insurance jargon and legalese. The latest and arguably most authoritative guide comes from the Life Insurance Association which recently published an improved version of its guide to life insurance. Financial advisers and insurance agents have been handing out the new guide to clients since Oct 1. Besides this, customers also get other documents, such as a reference checklist, a product summary and benefit illustration, when they are buying insurance. One important new feature in the latest guide is an easy-to-follow flowchart that describes the 'Comprehensive Advisory Session' that should take place when a consumer meets a financial adviser to discuss life insurance options. This underscores key changes in attitudes on how insurance should be sold. The sale of insurance is now part of a financial advisory process; it is not simply a product to be pushed so an agent can earn quick and fat commissions. But a successful insurance industry needs both sides to work hard. Qualified advisers with integrity are vital, but so are informed consumers who know what to expect from advisers. The main types of complaints from insurance customers are: getting misinformation on insurance and bad recommendations on what products to buy from advisers. Take the experience of Mr Larry Ho, for example. In February 2004, at the age of 53, Mr Ho signed up for a regular premium investment-linked insurance plan with a death cover of $1 million. This type of plan is a blend of an insurance policy and an investment; a portion of the premium is invested in stock markets, for instance. After a few years of paying the premiums, he now realises that the plan was not what he really wanted. He had wanted to invest his money for the long term and an investment-linked plan was not the best way to achieve that result given the changing proportion of funds invested. 'I had not been advised that as I get older, more of my premiums go into paying for assurance charges than for investments,' he said. So how does a consumer pick a capable financial adviser from the wide selection on the market? What to ask your adviser MANY people buy life insurance from friends and relatives because it is convenient. Still, this may not necessarily be a good thing as the close ties sometimes make it difficult to ask pointed questions. And there are hazards, too. Mr Ben Fok, the chief executive of Grandtag Financial Consultancy, said that it is not a good sign if the adviser tries to push you into signing up as a client on the spot.  (<- Typical of insurance agents at roadshows or booths at places such as AMK Hub.) 'This can be a bad sign. Refuse politely and continue asking questions. You are looking for an adviser, not a salesperson,' he said. Here is a checklist of key questions to ask your potential adviser: 1. What services can you provide? Find out if the adviser offers cost-effective solutions from multiple product providers, or if the products he recommends are restricted to one source. Some consumers feel safer with advisers and products from large, well-known institutions. Others may want to deal with advisers that offer a wider choice of products. 2. Who else could benefit from your recommendations? An adviser who promotes insurance, unit trusts and stocks may have separate tie-ups with the firms that supply these products. He may also have other business relationships that should be disclosed to you. This includes income he receives for referring you to an insurance agent, an accountant or a lawyer in relation to recommendations that he makes to you. 3. What are the risks and disclaimers? Don't hesitate to ask the adviser to highlight any risks, potential downside or restrictions that may apply to the product he is recommending. Ms Wendy Lee, 40, suffered a rude shock when she realised, after her divorce, that she was unable to change the person who would be a beneficiary of her life insurance policy. She was not told at the point of sale that an 'irrevocable statutory trust' is created - under Section 73 of the Conveyancing & Law of Property Act - for the spouse and/or children when they are named as beneficiaries in a policy. In simple terms, that means her ex-husband is entitled to the insurance proceeds because he was named as the beneficiary when the policy was taken out. Even having a will does not change this situation. 4. How do I pay for your services? Payment can take several forms. - Commissions paid by a third party for the sale of products. These are usually a percentage of the amount you invest in a product. - Fees based on a percentage of the assets you invest. - A combination of fees and commissions. Fees are charged for the amount of work done to develop financial advisory recommendations and commissions are received from any products sold. Some planners may offset a portion of the fees you pay if they receive commissions when you buy products they recommend. - A salary paid by the firm for which the adviser works. The adviser's employer receives a payment from you or others, either in the form of fees or commissions, in order to pay the planner's salary. 5. What commissions do you earn? Don't be afraid to ask the exact commission amount that the adviser will earn from the sale. For instance, the commission for a regular premium investment-linked plan can be as high as 50 per cent in the first year, before dropping to 25 per cent in the second year, 10 per cent in the third year, and 5 per cent each in the fourth, fifth and sixth policy years. This means that if the annual premium is $50,000, the first-year commission earned by the adviser is a substantial $25,000. For a single premium investment-linked plan, the one-time commission is typically a much smaller 2 percent to 3 per cent. In the case of hospitalisation Shield plans, some generate first-year and renewal commissions of up to 25 per cent and net premiums of 15 per cent for the adviser, as long as the plan stays in force. 6. What experience do you have? You have a right to be nosy. Find out the adviser's experience and the number and types of firms which he has been associated with. Some experts advise consumers to choose an adviser with at least three years of experience in providing financial advice. 7. What qualifications do you have? Ask the adviser what qualifies him to offer financial advice and whether he holds or has held any financial planning designation. If the answer is yes, check on his background with the respective organisations. 8. Can I have it in writing? Ask the adviser to put in writing the services he has provided and the recommendations he has made. Keep this document for future reference. Necessary documentation FINALLY, an adviser should give you the following documents when recommending a financial product, says IPP Financial Advisers. They include: - A summary of your financial information such as investment objectives, current financial situation and personal needs. - Recommendations made by the adviser and the basis for making these recommendations. - A copy of the benefit illustration and product summary for insurance products. - A copy of the prospectus for unit trusts. - The name of the firm he represents and the type of advisory service he is licensed to provide. If all this sounds like too much trouble, consider the problems faced by Mr Albert Soon simply because a critical illness policy was not explained properly when he bought it. He thought he was properly covered for all serious illness when he bought the critical illness policy. But the 52-year-old had a rude shock when his claim was rejected by his insurer early last year. After feeling breathless and bloated in December 2005, he was diagnosed as being at a high risk of sudden cardiac death and had a pacemaker implanted. The insurer threw out his claim, explaining that his medical condition did not fulfill the definition of any of the 26 major illnesses stipulated in the plan. To make matters worse, he had not purchased a hospitalisation and surgical plan. Thus it is always better to protect yourself by having an inquiring mind and being well-informed, as opposed to assuming that all advisers will automatically have your best interests at heart. On the flip side MUCH has been said about unprofessional advisers but many advisers have stories of encounters with 'unscrupulous' customers too. Mr Patrick Lim, the associate director of financial advisory firm PromiseLand Independent, recalled a 'nasty client' who invited his entire family of five for dinner at an expensive Chinese restaurant, during their first meeting. 'He had already pre-ordered food and made me pay for dinner, which came up to over $500. After a few meetings and agreeing to buy a policy for himself and his wife, he finally cancelled the policies. 'He was the most nasty client in my 10 years of working as a financial adviser,' recalled Mr Lim. Other advisers have also had their fair share of clients willing to play hard when it comes to getting the best deal. They obtain advice and recommendations from one adviser and then proceed to shop around for cash rebates and negotiate for better terms. lorna@sph.com.sg Be on your guard 'Refuse politely and continue asking questions. You are looking for an adviser, not a salesperson.' MR BEN FOK, chief executive of Grandtag Financial Consultancy, on what to do if a financial adviser tries to push you into signing up as a client on the spot. Copyright © 2007 Singapore Press Holdings. All rights reserved. Privacy Statement & Condition of Access (Poke me!?)
Thursday, October 4th, 2007
12:02 pm	Social Stereotype? It occurs to me that many people like to make the following assumptions about rich and successful people : 1) They are unhappy; 2) They lose their values; 3) They dump their parents in homes; Or basically everything negative. That's so untrue. The truth is, the above problems don't come in just because one is rich, or go away just because one is poor. You still have rich people with their happy great-grandmother staying with them. You still have middle-income people drinking all day and beating up their wives. You still have poor people dumping their parents in homes and refusing to visit them because they could not afford to pay. But what I do know... is that with more money, I can donate more to charity. With more money, I can give my mother and my family a better life. With more money, I don't have to worry about putting dinner on the table. With more money, I am able to help my friends when they are in need. So let's stop stereotyping against the rich and successful, and start to be open about it.  =) Current Mood: amused (3 pokes | Poke me!?)