3 Tips to Survive a Retrenchment

This is probably some old news you may have read a few days ago. Starhub will be retrenching 300 full time employees as part of a S$25 million restructuring exercise. This has brought back some of my bad memories. Believe or not, I was once retrenched and it came unexpected. I am not going to write about the impact of the retrenchment on the share price of Starhub, but to share my past retrenchment experience and how I learnt about the importance of having an emergency fund.

Believe it or not, I didn’t know and neither was I interested in stock investing in my younger days. I believed if I work hard and deliver results in the company I am working for, I will be rewarded. The company that I was working for was doing very well until one day, the retrenchment came unexpected. The management did not explained to us what was the rationale for the retrenchment. We were told to pack our personal stuff and leave the office immediately. There was no negotiation on the compensation and was briefly informed that the compensation will be credited into our salary banking account when it is ready.

Yes, this is how cruel and relentless the society is. I just got married, bought my house and have bills to pay. Being young and without much savings, I can only last 3 months without a job. Believe it or not, I scrimp and spent only $4 a day on meals. I was lucky to find job in the 4th month.

Six years have passed and here are the lessons that I have learnt from the retrenchment. Read More

Screening For Dividend Stocks On 2nd October 2018

This is not a recommendation to buy or sell. The stock market seems to have picked up this week and as the stock price of certain stocks I am watching goes up, I knew I might not be able to catch a good deal in the short term. One good example is Frasers Commercial Trust whereby the stock price has gone up to my estimated price of S$1.47 from S$1.42.

I need some ideas on what to buy or add to my watch list. What do I do next? Answer: I ran the Stocks Cafe Stock Screener.

Below are the ten stocks that was identified, sorted in descending order based on their current dividend yield. Ascendas Reit was top in the results with a current dividend yield of 8.836%. Read More

Is My Sweet Retirement Suffering?

Recently, Dr Wealth blogged about the topic “Are Financial Bloggers Suffering?”. The topic has drawn the attention of many fellow financial bloggers. It has also got me thinking “Is My Sweet Retirement Suffering?” This recent topic sounds pretty similar to a blog post I written two years ago about the struggle to Financial Freedom. (Read more: The Path to Financial Freedom).

I remembered a conversation with my wife. I told her we need to cut our expenses to free up some cash flow. She replied that we should find ways to earn more money instead.

If you followed my blog, you know I drove a car. I will also prefer to “suffer” by choosing the nearest car park with either per entry or cheaper hourly parking rates.

Dr Wealth also mentioned on the idea on saving money by cutting down on Starbucks. I do agree coffee at Starbucks is expensive. I am a coffee addict. However, I am not a fan of Starbucks coffee. I make my own Nespresso coffee at the comfort of my home.

People choose to Suffer now for a better tomorrow.

Am I suffering just by choosing to park my car at a cheaper car park, cutting down on Starbucks or going for less holidays? Honestly, that has not came across my mind that I am suffering because of these.

It is the people who have high ability but choose to Suffer that left me torn.

I dislike working because there are many demands from the company I am working for. I dislike not having to work because I will be bored without work and achievements. Both need to strike a balance. Does it also mean that people who have high ability should quit the comfort of their current jobs and go somewhere challenging to compete? Personally, I think it is foolish to do so. We can always take on a more challenging role within the same company.

Last but not least, I do not think I am suffering in order to achieve financial independence. It is more of an ambition of achieving financial independence that I will like to work hard towards to. Because by achieving financial independence, this means I can wake up anytime I want, go wherever I wish, do whatever I want to!