The Real Iron Man – 22 Nov 2013
We love Iron Man, the swaggering hero in the amazing red and yellow suit, don’t we? But he’s not all fiction. Meet Elon Musk, CEO of SpaceX and Tesla Motors and the inspiration for Jon Favreau (Iron Man director) in the film depiction of genius billionaire Tony Stark. It’s no surprise then that the futuristic SpaceX factory was used as a filming location for Iron Man 2, and Musk has a cameo in the movie.
An entrepreneur, engineer, and inventor, Musk turned his sights on game changers in human transportation, energy and space exploration after selling Pay Pal, which he co-founded, to Ebay. But it was not a smooth sailing endeavour and he faced one challenge after another, both in his personal life and ventures through which he tried to articulate his vision for the future.
Like Steve Jobs, he clung on to his vision and stayed foolish and hungry despite being able to throw in the towel anytime, salvage what’s left and walk away. The video below is well-worth a watch and we’ll be hearing more about Elon Musk for many years to come. If you have been inspired by this posting, then our little effort would have been well worth it.
By the way, Tesla’s shares have plummeted from almost USD200 to USD120+. Anyone smell a bargain?
Our Best, Always
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Can you relate to the philosophy of Steve Jobs? – 13 Nov 2013
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Much has been discussed about Apple’s co-founder, Steve Jobs since his passing on October 5, 2011, more than 2 years ago. That he was a visionary who set up a company to change the world he saw fit; to empower students with intuitive computers so they can do more; that he was a tough taskmaster who would sack you if you didn’t size up to his requirements. I never knew him. The only association I have with him is an apple ipod and apple shares that I still hold.
With a lot more bandwidth after leaving full time employment, I’ve had a lot more time to indulge myself in the rich trove of Youtube videos and see videos and interviews of Steve Jobs. That he was a masterful presenter with clarity and focus is without doubt. Of all these videos, the 2005 commencement speech he gave at Stanford University in 2005 still floors me, even though I’ve watched it several times. It’s a video that’s been widely circulated and if you ever feel compelled to do something to make things happen, do watch this 14 minute plus video with subtitles at the end of this posting.
In essence the takeaways from his speech are
1) Following your instinct. That your life experiences lead to something eventually. That it is about connecting the dots (life experiences). You can’t connect the dots looking forward; you can only connect them looking backwards. So you have to trust that the dots will somehow connect in your future. You have to trust in something — your gut, destiny, life, karma, whatever. Your time is limited, so don’t waste it living someone else’s life. Have the courage to follow your heart and intuition. They somehow already know what you truly want to become. Everything else is secondary.
2) You’ve got to find what you love. And that is as true for your work as it is going to fill a large part of your life, and the only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do. If you haven’t found it yet, keep looking. Don’t settle. As with all matters of the heart, you’ll know when you find it. And, like any great relationship, it just gets better and better as the years roll on.
3) Remembering that we’ll be dead helps one to make the big choices in life. Because almost everything — all external expectations, all pride, all fear of embarrassment or failure – these things just fall away in the face of death, leaving only what is truly important. Remembering that you are going to die is the best way to avoid the trap of thinking you have something to lose. You are already naked. There is no reason not to follow your heart.
You can’t interpret Steve Job’s speech to the extreme. It doesn’t mean you throw all caution to the wind and live life recklessly. To different extent, we have financial commitments and obligations. Once these are more or less in order, we can be in a better situation to “Stay Hungry. Stay Foolish” (Again, in the words of Steve Jobs).
This is how the takeaway points relate to me
Following your instinct – As I recollect my work experience in banking, advisory and government and my degrees in real estate and applied finance and try to connect the “dots” looking back, I realized that they all came together to help me to solve problems and create wealth for others. That one day I’ll be in a good position to give good, sensible financial advice to people who sought for it. And it all came together in the present form of Empower Advisory.
You’ve got to find what you love – I’ve always believe that the only way to be happy at work is to find work that you love, especially since we spend so many hours at work. The day I wake up in the morning and have to drag myself to work is the day I know I might have to move on. I believe most of us have a high threshold of pain but if it is not working out the way we envision, we have to be honest to ourselves. Empower Advisory is a labour of love and I’m glad to be able to leave full time employment to devote myself to it.
Remembering that we’ll be dead helps one to make the big choices in life – This is so true. I could have been comfortable within the public service as my good performance was recognized by senior management who offered transfer options to retain me when I tendered my resignation. But I wanted to change things that I could not had I remained in public service as it was not in my scope of work. The longer I stayed in public service, the greater the inertia. The public was being let down by dodgy investments and outright scams out there. I knew I would be able to make a greater difference out there with the knowledge and skills I have accumulated. Remembering that I’ll be dead and it was now or never made it easier for me to resign from a leadership job I took immense pride in.
Empower Advisory charges for courses as it is necessary to cover overheads, sustain and grow the organization so that the paying public will benefit from it. Yet we do not obsess over profits. Our core mission remains to empower you with genuine investment knowledge and only introducing investments that we are comfortable with internally.
A company obsessed with profits will not hesitate to introduce to their members risky investment projects without even addressing the risks or explore safer alternatives. For those who have had such unfortunate experience with such irresponsible companies, you know which ones they are. I will not mention names but urge their affected members to alert others.
To conclude, it is my hope that folks can be financially savvy to be able to pursue what matters to them and that they can continue to “stay foolish” and live a happy and meaningful life.
Our Best, Always!
“At Empower Coaching, we believe that our Clients are unique, and responsible people who delight in moving their lives forward. Together, we can!”
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No Money Down Investment Schemes – 20 Sep 2013
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Are “No Money Down” property investment schemes for real? Too good to be true?
“No money down” schemes can be bogus below-market-value deals or in the worse case, scams. There are several variations and below are common scenarios how they are played out:
= Scenario 1 =
1) The property investor club claims it has found a “good” property at below market value and ask you, the investor to buy it as the deal structure is also a “no money down” scheme.
2) You are then invited to place a down-payment to buy the property and take up a mortgage via the club’s own lawyers and middle-man.
3) The property is mortgaged or re-mortgaged at a higher value than your buying price with the cash difference going back to you. Hence you get back your down-payment, full or partial, meaning “no money down”.
4) The “misled” lender who granted you the mortgage based on a higher valuation is not told about your lower buying price, meaning you have purchased the property with a “fraudulent” mortgage application.
= Scenario 2 =
1) You could be simply paying ABOVE the true valuation and selling price, getting the illusion of “no money down,” since the excess you have paid is refunded to you while the outstanding is funded by a mortgage.
At Empower Advisory, we have the public interest in mind and are educators at heart. No Scams. No Nonsense.
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Retirement – 23 Aug 2013
Extracted from a Speech “Living Happily after Retirment” given at a Senior Citizen’s Association in Bombay, India by P. P. Ramachandran, Economics Post Graduate from the Bombay University. after serving in the Reserve Bank for forty years.
1) Retirement is not adding “Years to your Life but adding Life to your Years” – Retirement is not a calamity but an opportunity.
2) Believe in yourself and your values.
3) Don’t let anything get you down. Always bounce back.
4) Set goals for your future after retirement and never settle for anything less.
5) Realise that there are others in this world with bigger problems than you.
6) Appreciate the good things of life after retirement - Sunrise, Sunset, Flowers, Birds, Good Healthy Food, Exercise, Travel etc.
7) Be thankful for the good times you have with your loved ones.
8) Spend more time with your family and friends. Make new friends with younger people, even after retirement
9) Appreciate the simple things of Life after retirement and don’t get overly caught up in the material things of life.
10) Be an optimist and see the Cup as being Half Full.
11) Before long, your attitude will rub off others and you can make the world a better place to live by simply making yourself a happier person.
Let me conclude with an allegorical story.
First, a Genie created the Cow and said, “You must go with this farmer daily to the field all day long under the Sun, have calves, give milk and help the farmer. I give you a span of sixty years.” The Cow said, “That’s surely tough. Give me only twenty years. I give back forty years.”
On Day 2, the Genie created the Dog and told him, “Sit all day by the door of your house and bark at strangers. I give you a span of twenty years.” The Dog said, “Too long time for barking. I give up ten years.”
On Day 3, the Genie created the Monkey and said to him, “Entertain people. Make them laugh. I give you Twenty years.” The Monkey said to the Genie, “How boring, Monkey tricks for twenty years. Give me only Ten years”. The Genie agreed.
On Day 4, the Genie created Man. He told him, “Eat, sleep, play, enjoy and do nothing. I will give you twenty years.”
Man said, rubbing his hands with glee, “Only twenty years? No way. I will take my Twenty and give me the Forty the cow gave back, the Ten that the Monkey returned, and the Ten the Dog surrendered. That makes eighty. OK?” OK said the Genie.
That is why for the first twenty years we sleep, play, enjoy and do nothing. For the next forty years we slave at work to support our family. For the next ten years during retirement, we do monkey tricks to entertain our grandchildren. And for the last ten years we sit in front of the house and bark at everybody. “
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Terrafugia’s Game Changer – 20 Aug 2013
2 years ago, I read in TIME magazine that a car that can fly was in the works. Fast forward to today and it has become a reality.
Terrafugia’s Transition flying car debuted in Oshkosh, Wisconsin, USA in July 2013 in two 20-minute flight demonstrations and showed that it could fold its wings to be driven about like a car.
That it has been approved by the US regulators as a road-legal vehicle demonstrate how forward looking the US is. Having served as a business red tape buster in public service, I bet most countries would struggle to classify it as such.
Under development for seven years, it is indeed a dream come through for Terrafugia. The possibility this clever invention opens to commuting in large countries is immense. Yes, this means that regulators will have to think up new regulations for this class of vehicle but it is exactly the relentless challenge of existing boundaries that continues to put the US in the forefront of global innovation and progress.
Wanna buy one? The TerraFugia Transition is currently priced at USD279,000! Cheaper than your auto Mercedes S-Class 350 (SGD 383,000) but way, way cooler.
Not ready to rest on its laurels, Terrafugia has announced plans to develop a vertical-take-off-and-landing flying car, known as the TF-X. Check out the Video below. It will excite your senses and inspire you!
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Courage – 25 Jul 2013
Courage is something I always admire. Courage is about doing it right because it’s the right thing to do, not because it’s the easiest way out. This is epitomised in a documentary I chanced upon. Presented by Jeremy Clarkson in the BBC documentary, The Greatest Raid of All Time (2007) tells the true account of a British Commando raid on the heavily defended Normandie dry dock at St Nazaire in German-occupied France during the Second World War. In the face of impossible odds and the knowledge of almost no chance of returning home to their loved ones, the brave commandos proceeded with a sense of duty second to none.
Both World Wars brought out the best and worst in mankind. The sacrifice and toll on human lives was enormous and I hope none of our young people will ever have to relive the emotional turmoil that the Commandos went through. The clip is about an hour long and I strongly encourage you to sit through it. To take respite from our busy lives to reflect upon courage and ingenuity against impossible odds certainly invigorate us to persevere in our personal challenges. Enjoy the clip below!
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Empower Advisory’s 2 Days Course & Your Success – 11 Jul 2013
Something interesting happened today. A gentleman bumped into me today and we recognized each other from the 30th Jun 2013 Course Preview at the National Library Building.
He told me the Course Preview was well worth his time and that he was considering signing up for the Course. He asked if he could be a millionaire once he completes the 2 days course. I asked if he was looking for a magic, sure win formula and he nodded enthusiastically. I then asked if he had been scammed before and again he nodded but this time with less enthusiasm. Not once, he revealed, but twice.
This is what I shared with him. Anyone who promises you a secret, magic formula is lying for there is no secret, sure win, cruise control style, formula to success. Worse still, wishing and pining for a secret formula makes you an easy prey to scams and con. My father did not leave me with an inheritance. Neither could he afford a lavish childhood for me. But he gave me a most wonderful gift. He said, “Son, I don’t have much for you, but I will give you an education. The rest is up to you.” I’ll never forget his words.
While I provide personalized individual coaching at a premium rate, the 2 days course will equip you with the tools you need to be successful in stocks and property. Making money is not difficult. Once you shut the door to greed and open your mind to learning and put in effort to apply what you have learnt in my course, there is no reason why you will not be successful.
However, let’s take a step back and define success. Success has been narrowly defined by society and the media as being wealthy. And like a rash, wealth seminars are everywhere these days and their speakers claim to be a millionaire and professes to teach you how to become one.
My wealthy (real wealth, not claimed) friends do not shout out like that. They are modest and are some of the most down to earth folks you’ll ever meet. They are successful not because they are rich, but because they receive genuine respect for their knowledge, businesses acumen and personality. They have close friends they can trust, friends who know them for what they stand for and not what their bank account holds.
A mother who brings up her children with love, to the best of her ability is successful. A taxi driver, who earns an honest day living and returns his passenger’s misplaced wallet is successful. An employee who clinches a deal for his company in a fair competition is a success. Let’s not stay in the hazy misplaced notion that wealth equals success.
I will equip you with the tools to be successful in property and stocks. My success is that you become a savvy investor; one who is able to make good, independent investment for isn’t empowerment the ultimate merit of an education?
Our Best, Always
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Revealing Statistics from 23 Jun 2013 Empower Yourself Series Seminar – 28 Jun 2013
Because of the strong participation of 23 Jun 2013 Empower Yourself attendees to our anonymous questionnaire, we were able to derive meaningful results. I love statistics as they provide interesting insights and sometimes challenge norms that we take for granted. Let us see these statistics and draw some conclusions. What other conclusions can you draw?
1) Expectedly there were more male attendees. There is indeed room to encourage more ladies to be interested in investments and take charge of improving their financial security.
2) It is interesting to note that slightly more than half of the attendees take home $5,000 and less while the rest take home more than $5,000. A sign of upward mobility?
3) With about 75% of attendees working long hours (41 hours and more a week), it is most likely that they will not have time to monitor their investments on a daily basis since they would have other time commitments as well. How then should they approach investments? Come to our Preview or Sign up for our Course today!
4) With 76% of attendees not exposed to investment and property knowledge at work, there is much Empower Advisory can do to get them up to speed!
5) With only 13% of attendees considering themselves as aggressive risk takers, Empower Advisory is on the right track to advocate a safer less-risky way of investment for the majority.
6) With slightly more than half of the attendees considering themselves as Newbies, there is much room for Empower Advisory to equip them with the right tools to invest profitably.
7) Finally, we are saddened that about 1 in 5 attendees have suffered losses from scams in the market. This statistic strengthens our resolve to continue to alert the public of scams out there and take charge of their own investments profitably.
Our Best, as Always!
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Empower Advisory’s debut seminar well received ! – 25 Jun 2013
What a lovely turnout on 23rd Sunday 2013 where Empower Advisory held its debut seminar at the National Library!
Empower Advisory was started with the mission to empower our guests to take charge of their own property and stock investments profitably and to avoid scams and dishonesty in the market (We are probably the first to warn people of such malpractices that have hurt many people and ruined lives).
To uphold our belief of no-hard selling, we take pride that we consciously steer away from
a) The abuse of NLP sales techniques and pressure sales tactic.
b) Using scent marketing like what shopping malls do these days
Do remember that in any investment/marketing you encounter – do a first cut due diligence test. For example, if someone claims to own 50, 100 or even a 1000 properties, ask to see the person’s name on the title deeds of all those properties. If someone claims to have made a spectacular trade, ask to see some evidence. As a financial practitioner and a former public officer engaged by the Ministry of Trade and Industry to cut business red tape within our bureaucracy, due diligence is never far from my radar.
Here is the litmus test. Google search Chow Tuck Kheong Douglas. What does Google show up as results? And yes, if you come across a letter challenging HDB how it priced our flats, that was written by me as an undergraduate majoring in real estate back in 2004. It caused quite a stir back then in my faculty and I remembered a professor dragging me off quietly to tell me, “Glad you bothered to use these facts to argue. Let’s see what the authorities have to say…”
Finally, it is true heartfelt testimonials that speak the loudest. Not scripted, planted and arranged interviews but those done live. We thank our participants who have given us honest feedback and we will continue our mission to empower every individual to be a savvy investor in stocks and property so he/she will never be caught in a scam or bogus investment again!
Empower Advisory’s journey will be tougher and more challenging because we stick to our principles of no gimmicky and manipulative marketing. But we will persevere because values are what we hold dear to our hearts and the rock upon which Empower Advisory was built upon.
Sign up for our course! You won’t regret it.
Our Best, Always
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Private jet owners’ woe in Singapore – 11 Jun 2013
So you want to own a private jet in Singapore?
If so, you’ll be joining about 6 other Singaporeans who own private jets in Singapore. Here’s a fun fact. The price tag of a brand new private jet ranges between S$5.5m (HondaJet – 4 basic seater) to S$60 m (Gulfstream 550 – 20 luxury seater).
The annual cost of maintaining one averages S$625,000. And where does it go to? The cost of hiring pilots (At least 2 for a larger private jet), engaging a maintenance engineering team, routine overseas maintenance, as well as fuel, over-flyer, landing and parking charges.
But that’s not the point of this article. Apparently, the folks who own these jets in Singapore are unhappy that Seletar Airport where their jets are parked, sells them jet fuel at S$1.52/l compared to S$1.05 at Changi Airport and S$1.11 in Senai Airport (Johor).
You may think, wah why these Singaporean tycoons so cheapo, their fuel cost cheaper than my petrol price!! Let’s do the maths. With private jet fuel tank ranging from 4000 to 23,000l, a full tank would cost them between S$6000 to S$35,000, compared to our humble S$100 full tank at a Shell station.
The point is, even these tycoons who have many zeros in their bank account gripe about such cost differential. They have build up their wealth by sniffing out good deals and never leaving too much on the table. The same goes for fuel price. Leaving too much on the table knowing that there are cheaper jet fuel alternatives nearby makes them peeved, to the extent that they are making their displeasure known to the Singapore authorities through private jet operators. Of course, there are vested interest at play as these private jets could be leased for chartering when not in use by their owners and the high jet fuel cost eats into the margin.
Like these tycoons, be savvy. Accumulating wealth is not just about how much you earn. How much you save is equally important!
Our Best, Always
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