Quote:
Originally Posted by Unregistered
Whizzard, you are back! I'm one of those who followed your interesting posts of past. Last I recall, you were looking at Porsche sports cars and were denying having a mid-life crisis. Haha
So give us an update of the last few years. What have you been doing? More interestingly, did you get richer. Details please!!
|
Haha, the last few years have been more or less the continuation of the years preceding that but with a main difference. I am no longer the person who pursued career progression single mindedly and with dogged determination. Instead, my main aim is to "cruise" and deliver my team's KPIs. It didn't take too much and too long for my slave driver boss to see through that and pressure was promptly applied. Don't get me wrong, cruising doesn't mean loafing off or not working. I pursue deals, execute them as flawlessly as I can and deliver the revenues but I wouldn't slog through the nights everyday or work on weekends any more unless on a very exceptional basis. In other words, I wouldn't voluntarily take the initiative to go the extra mile. In order to stand out in any organisation, you have to be super on but it is a conscious decision on my part not to be so.
My work also required me to travel frequently as it is a regional role. Initially, it was fun but requires loads of hard work. Before each trip, we would have to prepare the pitchbooks and work out the different strategies for each customer. In addition, most of the time I'll be meeting clients for the first time so the stress is intensified. For a number of years, I would travel every fortnight. These marketing trips are in addition to my role of executing the deals obtained in prior marketing trips. Even my gym instructor is getting fed up with my frequent requests to reschedule my training sessions!
So, the job is fairly intense as we need to juggle a few deals at various stages of closure in different countries at any point in time. The pay is not fantastic as I am still paid less than what I was previously paid. However, it is still more than enough to support my family's lifestyle with some leftover but not a lot that it would make a big difference in terms of my wealth accummulation since I have adopted a more extravagant lifestyle lately.
The salaried job has allowed me to rollover my investment income to grow the pot but my annual investment income is well below 10% of the portfolio so it would take quite a while to move the needle. I am tinkering with the idea of employing leverage to increase the returns but let's see how ..... my bankers are offering me loans at an all-in rate of approximately 1% + pa pegged to cost of funds (short term rates). Provided short term interest rates stay low, I could still increase the returns by leveraging my higher yielding bond portfolio. The game will come to a stop when the low and medium term interest rates converge so I am still thinking about it. But, it would give me a nice recurring passive income base for a few years if I set it up properly. I think I can assess credit risks but how interest rates would move is another kettle of fish! Any experts here have any views? I would like to learn. Private bankers only want to sell and earn commissions. I don't trust them at all. Only use them for execution.
Took a fair bit of money out of the equity markets recently. Don't know whether it was a good idea on hindsight as the markets are still charging ahead. Whatever, markets will always go up and down and a realised profit is always better than an unrealised profit. Now, as long as I don't do something stupid with the spare cash I should be fine - patience and adequate research before I redeploy.
I have also sold off my overseas properties. Waiting for the currency markets to move in the right direction before I bring the cash back to Singapore. I don't see the Singapore property market being a particularly good asset class currently but I have my eyes set on something here if it moves to my level. Well located freehold landed properties should still be a good investment class but not the non-landed segment. Again, patience and adequate research and analysis. Else, I just use it to pay off the bank loans for my existing investment properties in Singapore if mortgage rates were to spike up.
And yes, I got my Porsche a few years back. I am enjoying it. 5 years warranty and maintenance programme is a joy! The other day, a message popped up saying that my engine oil is low. I called up and asked them what kind of engine oil do they use, as I planned to top it up at the petrol station. They asked me to drive into the workshop at Leng Kee and it will be topped up within 10 minutes, no prior appointment needed. I drove there during lunch and they topped it up with 2 litres of oil. When I asked how much, they said payment not required as it is covered under the maintenance programme - even for engine oil. Sweet! Now, if I can only get them to do the same for my petrol! I am now itchy to get another Porsche, this time a convertible. But
COE so high! $21 per day just for the
COE. Insurance and road tax and would cost an additional $36 per day. Still haven't factor in other usage based expenses and depreciation and assume no financing. Haiz! Got to earn more money!!!
And so, this rat has to continue running because he cannot stop wanting!