Showing posts with label Coftea. Show all posts

Being dad - Things I knew but didn't understand

There are many ways to put it. I have been promoted. I joined the club. Your BMT is going to start again. I knew what being a dad entails, but I did not truly understand them.

Not until my little darling daughter came and stole my heart.

Want to advance faster in your career? Be the problem solver.

My recent encounters in my workplace had a recurrent theme, that problem solvers advance faster in their careers. Here are the 3 stories.

Story 1

2 new colleagues, A and B joined my company recently and they were assigned to a project. A seems inquisitive as he asks many questions, while B looks thoughtful and usually reserves his comments. As they are sitting close to me, many of their conversations goes like this.
A: “Look at this, it is giving me error.”
B: “Let’s backtrack, what were you doing before the error came out?”
A: “I was doing the testing and realised the first one will pass but not the second. So I changed my method and the problem stays the same..”
Silence while B looks at A’s computer screen.
B: “Why not you try this way?”
A: “Ah.. Got it.”
A is a manager and B is a solution architect. While both positions are of the same job grade, B is about 10 years younger than A.
Be like B.

Story 2

C has been with the organisation for close to 10 years and knows many processes that newcomers don’t. It is common for D to drop by and ask C for advice.
D: “Hey, I’m not sure if I understand this complaint.”
C: “People are doing it this way because the system is built this way and it has been like this for many years. Previous attempts to improve it have failed.”
D: “Then how are we handling it currently?”
C: “No choice but to do it manually whenever there is a request.”
D: “Hmm.. These manual ways are time consuming and we can’t respond fast. Let's discuss with the team to see if automation is possible.. At the same time, why not we meet up with the users to see if they have any suggestions.”
The experience C has is invaluable and he is really helpful when people like me needs more information on how certain things work. But C is under D, who is a manager that has been with the organisation for just 2 years.
Be like D.

Story 3

E and F are in a meeting discussing project status and updates with a vendor.
Vendor: “We have passed that milestone for some time and we are being chased by our finance to submit invoice. Would we have your permission to do that?”
E: “There are still quite a number of outstanding issues and we are uncomfortable in making payment.”
Vendor: “Yes we understand, but we have put in a lot of effort for the past weeks and many things have been resolved.”
E: “Yes, but the outstanding items have been there for quite awhile and we need to close them.”
Vendor: “We are really committed to fix the rest of the issues and rest assured that we are working in our full capacity to do that.”
E: “We should close all issues before making payment.”
An awkward situation arise as there is a standstill...
F: “Let us discuss within ourselves and get back to you.”
Vendor leaves.
F: “I think we should be clear on the things the vendor need to check off before we make payment. Let’s make a list of the top priority issues and we can move ahead.”
A list was conveyed to the vendor, things moved forward and no relations was harmed.
E and F are about the same age, but E is a manager while F is a department head.
Be like F.

Problem solving isn’t easy. It requires understanding of the problem, consideration of the bigger picture and weighing various options to arrive at a solution. So the next time you want to report a problem, it helps to think critically on how you would solve it yourself. Good luck in getting it to fruition!

Photo Credits

Cover picture, Fortune by Tomasz Stasiuk

How to find your passion

Since starting work a number of years ago, I have been on the search for my passion but to no avail. Things I have tried taught me what I dislike, but what I like is few and short lived. This elusive passion I want is the passion in work, a career I could spent half my life building, be excited for and proud of. The search has so far been a needle in a haystack. Despite the lack of passion, I think I’m surviving okay in this rat race. A shelter over my head, ample food, occasional splurges and yearly vacations. I could continue to be okay, climbing the corporate ladder one step at a time. But the thought of going through life without knowing what I’m really good at scares me. Essentially, what we are good at defines us, and I will not stop searching until I discover who I really am.

What is the CDP account for?

I was having a casual lunch chat with my colleagues on the stock market and was pleased that my first attempt to explain the concept of long versus short, call versus put option was successful. But asked a simple question on what the CDP account is for, I found myself tongue tight. It is… a depository to hold my stocks and… perhaps my holdings inside are guaranteed in certain ways?

The new OCBC Frank card has lost its appeal

Guest post by Coftea
With its 6% cashback given for online spending, the OCBC FRANK card is every online shopper’s must-have. Well, not from 1st Oct 2015 onwards when the new changes come into effect. Good things tend not to last.

What’s so bad about it?

FRANK is turning into every other card out there, tempting you with attractive benefits but making the requirements hard to achieve.

The 10 things I'm grateful for being Singaporean

Guest post by Coftea

Starting with our outpour of emotions and respect for the late Mr Lee Kuan Yew, followed by our sportsmen doing us proud in Sea Games and finally witnessing a spectacular Jubilee NDP, I have never felt prouder to be a Singaporean. The feeling was especially strong while I was listening to PM Lee Hsien Loong's rally speech on 23 Aug. As with previous rallies, he started by recounting notable events in the past year, but this was a special year. The events he recounted were things that all Singaporeans can relate to, and will always remember.

Having the means doesn’t mean you have to

Guest post by Coftea
I had a chat with a friend recently and I brought up the usual tease question that is always directed at him. “So when are you going to buy a condo?” His usual response was to give a shrug, tell people he was waiting for the right moment and share some details of condos he has scouted. His reply this time however, surprised me. In his matter-of-factly tone, he said he is not going to buy one.

What!? Pixabay

A little tool to check HDB resale prices

Guest post by Coftea
A few months ago, I came across a good piece of software that helps people to see and understand data. I actually tried it out using publicly available data and the resale prices released by HDB quarterly seems like a good data to analyze. As it turned out, my output wasn't too shabby and I think it might be useful to some readers out there.

I call it a HDB resale price checker as it allows you to select your town (or estate) that you're living in and view
    1. 2015 1H Stats - The latest figures, namely number of units sold and average resale price for 1st half of year 2015.
    2. Historical trends since 2011 - The trend of the above two figures since year 2011. Note that the number of units in 2015 accounts for 1H figures only.

Use the selection panel on the left to start. Remember that you can select multiple towns, check which type of HDB you're looking at and adjust the time period you wish the trend to reflect. Have fun!


Can HDB owners buy another private property? Yes you can!

Guest post by Coftea (co-founder of SnackFirst)
I have lost count of the number of times I have been told that Singaporeans who already own a HDB flat cannot buy another private property. I actually believed it until someone knowledgeable enlightened me.

Being an aspiring HDB cum private property (or properties!) owner, getting the facts right on this subject is important. If a HDB owner can purchase another private property, what are the prerequisites and restrictions? After researching the truths online via official sources, I realised there are 3 major misconceptions which I hope I can provide some insights to.

10 lessons in Warren Buffett's 2015 shareholders letter

Guest post by Coftea

I have been hearing great things about how Warren Buffett, one of the greatest investor of our times writes his shareholder letters. Often, they are mentioned as well written, thoughtful and loaded with sound investment advices. With succinct quotes such as be “fearful when others are greedy and to be greedy only when others are fearful” and “rule no.1 is not to lose money and rule no. 2 is not to forget rule no.1”, I have the feeling that he is also quite a humorous guy. My curiosity had finally overwhelmed me and I decided to read Berkshire Hathaway’s 2014 shareholder letter, on a quest for inspirations.

Paying 10 times more for a haircut

Guest post by Coftea


I dread going to haircuts since young. As a guy, I consider it a monthly chore which must be done to make my hair looks similar to the one I sport last month. The problem is that I can never know how my hair will turn out this time, and more often than not, I will not like it. If paying ten times more for a haircut can ease my dreadfulness, it may be well worth a shot.

Earn from your spending with OCBC 365 and FRANK

Guest post by Coftea

Even with the recent changes to OCBC 360 savings account, the ability to earn up to 2.25% of your money (capped at 60k) still makes it a top choice to put your money into it. While reviewing the policy changes, it was also a good idea to review my expenditures and see how I can better make use of OCBC credit card offerings.

How investing changed my life's perspectives

Guest blog by Coftea 


When I was 1 year into work, I tasted the satisfaction of receiving my first AWS and bonus, which is the greatest amount of money that I have ever received. Many things started to become affordable, a weekly trip to restaurant sounds reasonable and getting the latest and the highest priced gadget is a must! I felt empowered during shopping trips to the mall and while I was shopping for a electric shaver, I justified that for a device that I could use for more than 5 years (my previous one did), 400 bucks is totally worth it. Nope, I didn't regret my purchase, I like it and it is an essential item that I use everyday. The reason why it wasn't a good decision is that I didn't give much thought into it when I was buying. I should have done more research and weigh in more options. The shaver went on a huge discount of 25% shortly after I bought it.

Fortunately, I am not someone who spends paycheck by paycheck, or what Chinese call 月光族. I was brought up in a family that values savings. I have to fight hard to convince (and irritate) my parents so that they will fork out the extra dollars for a nicer looking bag, shoe or clothing that I fancy in my younger days. I understood the lessons that they are teaching me, but like everyone else, I sought to earn more money. Buying stocks was the first thing that came to my mind as it has been so frequently associated as an avenue to make easy money. A former course-mate who is always on SGX and his trading account told me that on good months, he earns 1k to 2k in the stock market. What!@#! That's pretty awesome for a student! His caution on losing money was totally ignored.

I bought my first stock after 1+ year of working. I started to read online investing blogs and the first investing book I read was Rich Dad Poor Dad by Robert Kiyosaki. It didn't teach me how to be a good investor, but it fundamentally changed the way I thought about money and the approach to handle it. Since then, I have tried to beef up my portfolio whenever I can, along with sound investment knowledge from books. My journey has barely started, but I have already noticed many mindset shifts in the past 2 years. Before I forget where I started from, here are the 5 major changes that have happened to me.

1. Earning big incomes doesn't mean you are rich

I used to associate rich people with their fancy jobs. A doctor, lawyer, banker, trader or business owner must be affluent. My reasoning is simple, they just earn significantly more income than average office workers do. They are paid highly to be the true experts in their field of work. How can someone like them be poor? Well.. Companies go bust and the economy may take a turn. When the source of income is being cut, these high income earners can fare worse than average earners. They will need more money to finance their big houses, big cars or an extravagant lifestyle. Do they move on and work harder to keep up? What if there are no better opportunities? I have no longer measure rich in monetary terms. As I have learned and experienced, rich is measured in terms of how long can you sustain your lifestyle when you quit your day job. I may be paid an average wage, but if I have savings and money making investments that can last me a long time, I am rich. Moreover, a job is more of an interest than a job by then. People who achieve financial freedom are the ultimate rich people.

Can your lifestyle remain without a job?

2. Things you owned aren't assets

Traditional thinking dictates that your house is an asset that you should treasure. My accounting course during school days reaffirmed this concept that property, plants, equipments or even furniture should be classified as assets in a balance sheet. Basically, your belongings are your assets. However, do you consider your car that you have to pay a hefty monthly installment an asset? Extend that to the house that you are living in. If they are your assets, why are you still paying for them? In the pursuit of financial freedom, these so called assets will be the things that hinder you in your journey. You will still need to make money and finance them, making them a liability instead. As long as you still need to pay for a possession, it's better not to call it an asset. The best assets help to generate money, such as your second house that you rent out, the computer that you freelance on or the vehicle that can bring in the dough. I wished my accounting teacher had cautioned this to me.

Are you paying just to own something?

3. Don't rely on a job for financial security

I have heard so many cases of loyal workers being retrenched after spending most of their life with a company. Being so devoted to a specific function, they may have mismatched skills in the open market, making it difficult for them to strike out again. Moreover, loyalty is much less valued in modern companies. If you are familiar with turnaround companies, restructuring and cost cutting measures which turns a net loss into a net profit are welcome signs that shareholders celebrate. But do the shareholders care how many people have lost their jobs in the process? As long as the shareholders are happy, the company's management will continue to reduce their bottom line. What all this means is that one cannot believe in a iron rice bowl, and there is no financial security if you only depend on your job for income. I was taught to study hard, get good grades and find a stable job to support myself. This is only the first step everyone takes. The next will be to find alternative streams of income, channeling resources from the first step we took.

Hmm.. How can we cut cost further? 1

4. Buy worthy things

I am sure everyone has suffered from an impulse purchase. The merchandise feels good, looks nice and is made by a reliable brand. Most importantly, it is on a sale! So the next day, it is sitting in your house and you noticed that it isn't as great as it seemed yesterday. Yes, I have many shoes and clothes that do not see the light again after a few times of usage. Part of being an investor means being able to properly size a portfolio and know what type of investment that should be added next. If I have enough growth stocks, I may want to look for some dividend stocks and start my research on REITS and business trusts. Similarly, I can shop for things that I need, rather than finding a need for the things on sale. The temptation is still there, but I make it a point to give deeper thoughts to my purchase, just like what I would do when I analyze a company. How will it improve my current situation? Will I use it tomorrow? How long do I use it daily? Do I already owned something of similar function? On top of saving money, this habit motivates me to get quality goods that I can enjoy longer.

How many pairs of shoes do you really need?

5. Great businesses are around you

This realization is mostly influenced by Peter Lynch, who firmly believe that common investors can beat the professionals at their game. When I started out to look at stocks, I thought that the only way to spot awesome companies is to dig through tons of annual reports and web content. The research method is fine, but wouldn't it be better if I am already one of the customer of a good company? If I have had known this earlier while I was gorging on a pork floss bread, sipping an aromatic Toastbox coffee and admiring how efficient their staff was, I would have already gained more than 150% return on Breadtalk in just over 6 months. Here is one company that I understood more than the professionals, because its success was in my face! These golden opportunities do present itself around us from time to time. Be it a new mobile app, piece of hardware, type of drink or way of disposing waste, if they are good products and making waves in the community, I am sure to do some background check on the company behind it. I want to own both the product and the company!

Pork floss bread for you? 2

I am sure many of us will agree that our education system is great at teaching us skills that allows us to earn. As part of continual learning, my investing journey have showed me what isn't being taught: to spend wisely. I may be able to pick these things up as I age and experience more in life, but investing has truly accelerated my learning. 千里之行,始于足下. A journey of a thousand miles begins with single step, I am glad I have taken mine.

Photo Credits
1 By Sebastiaan ter Burg at https://www.flickr.com/photos/ter-burg/
2 From http://www.breadtalk.com.ph/index.php