Our Goal is to help 1 million people reach S$1 million

[louiskst]

Hi all,

How you spend your 24hrs per day?

Today I break down on how I spend my 24hrs per day. I realise that I only have 3hrs free time each day!

Assuming that one sleep for 7hrs per day.

Normal working hours is 8hrs per day + lunch time 1 hr is 9hrs per day.(Usually I work OT so I work for 11hrs per day)

Depending on the distance between your workplace to you home, my travelling time to work is about 2hrs per day.

Breakfast + dinner take about 1hrs.

So, I have only left 24-7-11-2-1 = 3hrs!!

Worst still, sometime i have to work during weekend!!

louiskst

[positive7]

Congrats. You are indeed blessed. When I reach the million mum is no longer around to enjoy with me. I believe, indeed is wonderful to have the million to give us better choices. But even if we don't reach yet, we still need to be mindful to spend time to talk to mum and treasure the moments.

[Dennis Ng]

Congrats. You are indeed blessed. When I reach the million mum is no longer around to enjoy with me. I believe, indeed is wonderful to have the million to give us better choices. But even if we don't reach yet, we still need to be mindful to spend time to talk to mum and treasure the moments.

yes, I agree that we should spend time to talk to our parents and family.

But the fact was when I was not financially free, I could not spare as much time for my mum then, as I need to "rush to work". How many people are in the same shoes as me?

This is why if I help more people reach financial freedom, then more people can be like me, can now choose to talk 1 whole day with my mum, as I don't need to work for the sake of money and survival anymore.

[danielcheng]

Just like to look at things from another perspective.

I don't think we should put off enjoying our lives and our resources. While planning for our retirement is important, it is not as powerful as living in the present with an awareness of our future. Putting enjoyment & quality time with our love ones off until a future time is like pushing away our current prosperity. We wouldn't know what will happen to us tomorrow. When we delay enjoying our life until our circumstances improves, we actually do ourself a grave disservice by linking our happiness to our finances.

Money is not always the path to happiness or fulfillment. It will not make our life feel more meaningful, or improve our relationships. Actually money only solves financial problems. So, don’t expect money to solve all our problems when we reach there!

Although spending practically is valuable and prudent, we also deserve to enjoy some of the fruits of our labor. When we buy something that helps us or our love ones feel good, we can encourage a positive emotional response to money. As we feel better about ourselves, we naturally tend to be more productive.

Don't allow ourselves to be a slave to finances. When we view money as just a tool, and don’t allow ourselves to get emotionally attached to it, we are in control. Remember, it’s just printed paper.

[ilovecck]

Just like to look at things from another perspective.

I don't think we should put off enjoying our lives and our resources. While planning for our retirement is important, it is not as powerful as living in the present with an awareness of our future. Putting enjoyment & quality time with our love ones off until a future time is like pushing away our current prosperity. We wouldn't know what will happen to us tomorrow. When we delay enjoying our life until our circumstances improves, we actually do ourself a grave disservice by linking our happiness to our finances.

Money is not always the path to happiness or fulfillment. It will not make our life feel more meaningful, or improve our relationships. Actually money only solves financial problems. So, don’t expect money to solve all our problems when we reach there!

Although spending practically is valuable and prudent, we also deserve to enjoy some of the fruits of our labor. When we buy something that helps us or our love ones feel good, we can encourage a positive emotional response to money. As we feel better about ourselves, we naturally tend to be more productive.

Don't allow ourselves to be a slave to finances. When we view money as just a tool, and don’t allow ourselves to get emotionally attached to it, we are in control. Remember, it’s just printed paper.

Perhaps part of what u meant to say can be sum up by this "Wisdom of the Quadrants" from Ismail Gafoor's website? He advocated the ideal fun (both amt and quanity) at different period of your life, so that (this is in my opninon) ---> you lead a more fulfilling life.

http://www.ismailgafoor.com/wisdom-of-t ... rants.html

[Dennis Ng]

thanks for sharing. Definitely 100% agree with what you said.

But the FACT remains that there are many people forced to work very long hours just to feed their family, it's NOT they don't want, but they cannot AFFORD to spend much time with their family.

In real life, I have met and know of single parent/widow etc, etc working 2 low-paying jobs a day to raise his/her children. If you ask them, do they agree with you, they 100% agree with you, but can they choose to spend more time with their children, the sad fact is NO.

I'm sure if they are financially free and can AFFORD to choose, they would choose to spend more time with their family.

When I was working in the bank, I had to reach office by 9 am, can I choose to talk to my mother for as long as she wants when she visits my house in the morning, again the answer is NO. Not that I don't want, or a matter of choice or preference or balance or whatsoever.

Cheers!

Dennis Ng

Just like to look at things from another perspective.

I don't think we should put off enjoying our lives and our resources. While planning for our retirement is important, it is not as powerful as living in the present with an awareness of our future. Putting enjoyment & quality time with our love ones off until a future time is like pushing away our current prosperity. We wouldn't know what will happen to us tomorrow. When we delay enjoying our life until our circumstances improves, we actually do ourself a grave disservice by linking our happiness to our finances.

Money is not always the path to happiness or fulfillment. It will not make our life feel more meaningful, or improve our relationships. Actually money only solves financial problems. So, don’t expect money to solve all our problems when we reach there!

Although spending practically is valuable and prudent, we also deserve to enjoy some of the fruits of our labor. When we buy something that helps us or our love ones feel good, we can encourage a positive emotional response to money. As we feel better about ourselves, we naturally tend to be more productive.

Don't allow ourselves to be a slave to finances. When we view money as just a tool, and don’t allow ourselves to get emotionally attached to it, we are in control. Remember, it’s just printed paper.

[ui21cn]

Saw the posting in the Yahoo website and the surveyed by KPMG in 2011 among 96 countries. World top ten tax rate countries. The currecny is in US$ for ease of comparison.

Can View the original slideshow from CNBC.com
http://www.cnbc.com/id/47290212?_%20sou ... yahoosg%20

10. Ireland
Highest income tax rate: 48%
Average 2010 income: $50,400
The country’s top marginal rate kicks in at about $43,900 of taxable income

9. Finland
Highest income tax rate: 49.2%
Average 2010 income: $49,000
The country’s top marginal rate kicks in at about $91,000 of taxable income

5. (Tied) United Kingdom
Highest income tax rate: 50%
Average 2010 income: $52,320
The country’s top marginal rate kicks in at about $231,000 of taxable income

5. (Tied) Japan
Highest income tax rate: 50%
Average 2010 income: $53,200
The country’s top marginal rate kicks in at about $217,000 of taxable income

5. (Tied) Belgium
Highest income tax rate: 50%
Average 2010 income: $52,700
The country’s top marginal rate kicks in at about $46,900 of taxable income

5. (Tied) Austria
Highest income tax rate: 50%
Average 2010 income: $50,700
The country’s top marginal rate kicks in at about $80,000 of taxable income

4. Netherlands
Highest income tax rate: 52%
Average 2010 income: $57,000
The country’s top marginal rate kicks in at about $74,500 of taxable income

3. Denmark
Highest income tax rate: 55.4%
Average 2010 income: $64,000
The country’s top marginal rate kicks in at about $76,000 of taxable income

2. Sweden
Highest income tax rate: 56.6%
Average 2010 income: $48,800
The country’s top marginal rate kicks in at about $81,000 of taxable income

1. Aruba
Highest income tax rate: 58.95%
Average 2010 income: N/A
Aruba, a Dutch territory, has the highest income tax rate in the world. It is also the only country in the Americas to make the top 10 list.
The country’s top marginal rate kicks in at about $165,000 of taxable income

All the above countries impose capital gain tax too ! Interestingly to know out of the ten countries 8 are from Europe, 1 in Asia and 1 in America Continent.
US was rank 23rd at 35%. Singapore top tax rate is 20% which kicks in at about $255,000.

The thread in yahoo generate alot of irks among Singaporean and claiming citizen are suffering, Singapore tax rate is very high after factor in GST, COE, no free medical care, no free schooling, no hand out when out of job, no social welfare, CPF money not easily accessible, ERP....blah blah.

Who is right who is wrong ?

To me, each of us need to be a responsible person to take care of its own well being, plan our own life journey ; keep improving to be Self sufficient . One thing for sure I do not want to be the burden to my children income tax to pay for my medical bill/social welfare..

Of course, to those who are in better position should help the needy to better their life too.

To our financial savvy journey,
Wei Teck

[Dennis Ng]

thanks for sharing.

I highlighted what I agree 110% with you.

There is NO free lunch. You look at U.S. and Europe, yes, the government promised many benefits, but problem is with aging population and rising competition, can the government deliver the Promise? Answer is no. Answer is in order to have all those "freebies" (social welfare, free medical care, unemployment benefits) etc, is part of the reason why it lead to U.S. and Europe in borrowing more and more...and having a bigger and bigger Sovereign Debt Crisis.

And the more the Country owes, the debt is still borne by the people...so it is NOT free.

Check how much National Debt each American has to bear here: http://www.usdebtclock.org/ I don't envy any American for the many "benefits' they enjoy.

People need to wake up to the truth that there is really no free lunch, it is either you pay in One Way or Another Way/Form.

Cheers!

Dennis Ng

The thread in yahoo generate alot of irks among Singaporean and claiming citizen are suffering, Singapore tax rate is very high after factor in GST, COE, no free medical care, no free schooling, no hand out when out of job, no social welfare, CPF money not easily accessible, ERP....blah blah.

Who is right who is wrong ?

To me, each of us need to be a responsible person to take care of its own well being, plan our own life journey ; keep improving to be Self sufficient . One thing for sure I do not want to be the burden to my children income tax to pay for my medical bill/social welfare..

Of course, to those who are in better position should help the needy to better their life too.

To our financial savvy journey,
Wei Teck

[Dennis Ng]

http://www.youtube.com/watch?v=WKB0GHwPmnA

Jermaine Paul, a back up Singer was not a favourite in "The Voice" singing competition...in one of the sessions, a judge commented that his problem is he sings like a back up Singer...but he sang so well in the Final on Tuesday that the Host Carson Daly commented he was no longer a backup singer...

Against all odds, Jermaine Paul won, singing the song "I Believe I can Fly". This song holds a special place in my heart as during times when I was feeling down, when I listened to and sing out the song loud, it helps me to reinforce the belief again...

Yes, truly as the lyrics go:"If I believe it, then I can do it, if I just believe it, there's nothing to it." and Jermaine Paul proved it, another Real Life Example how a person by believing in himself, can achieve "miracles". All 3 other finalists are experienced professional singers and Chris Mann even sang at Broadway...and all sang equally well...but as they said, the rest is history.

Do you believe in yourself? Do you believe in yourself 100%? If you do not, who else do you think will do that? Nothing great has ever being achieved by anyone who didn't believe in themselves. Think about it.

CBA truly works. I'm one of the many Real Life example, and the world just witness another real life example in Jermaine Paul.

The greatest thing I want to do as a Teacher is to inspire and encourage others to believe in themselves. Nothing else comes close.

Cheers!

Dennis Ng

Jermaine Paul of Team Blake won TV singing contest "The Voice" on Tuesday night, gaining a shot at his dream of singing stardom and proving true host Carson Daly's statement that he was "no longer a backup singer."
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The Voice: Who made it to the finals?

Jermaine Paul talks about winning The Voice, and a duet with Beyonce.

Upon winning, Jermaine Paul collapsed into a hug from his coach, country singer Blake Shelton, and wiped away tears as he thanked his wife, children, and all of the people who voted for him, ending his speech by exclaiming "nobody but Jesus!"

The former backup for Alicia Keys took center stage as he sang R. Kelly's "I Believe I Can Fly" to close out the show, which he also sang in his final performance on Monday's penultimate episode.

Paul received embraces from his wife and family members as he sang. He takes home a recording contract with Universal Republic Records and a $100,000 cash prize.

RECOMMENDED: Best-selling American Idol artists

Paul beat fellow contestants Juliet Simms of Team Cee Lo, Tony Lucca of Team Adam, and Chris Mann of Team Christina. Host Carson Daly revealed that Paul edged out second place finalist Simms by fewer than four percentage points.

Tuesday's results were determined by audience voting, which commenced at the end of Monday's performance episode. During that show, the four finalists each sang their final solos and duets with their respective coaches.

Paul's rendition of "I Believe I Can Fly" was backed by a full choir and drew on his childhood in upstate New York where he frequently sang in church choirs himself.

Runner-up Simms sang Lynyrd Skynyrd's "Free Bird."

Lucca, who placed third, performed Jay-Z's "99 Problems. The song, chosen by his coach Adam Levine, was said to be a cause of friction between coaches Levine and Christina Aguilera, which was palpable after Lucca's performance.

In her feedback, Aguilera said the song's lyrics were derogatory toward women and admonished Lucca for performing it with his wife and children in the audience.

In his performance, Lucca muffled some words and sang around lyrics that contained other words which might have seemed out of touch with the show's family audience.

Building on his classical chops, fourth place finalist Mann sang Josh Groban's "You Raise Me Up," bringing Aguilera to tears. Mann also realized his dream of singing "The Prayer" by Celine Dion and Andrea Bocelli with Aguilera during the duet portion of the show in which contestants sang with the pros.

Tuesday's star-studded two-hour finale included a variety of performances from stars such as Justin Bieber, Lady Antebellum, Flo Rida, and Hall & Oates.

Bieber, who had stopped by the show earlier in the season to debut the video for his new single "Boyfriend," sang the song live this time.

Simms joined Flo Rida in a version of his popular song "Wild Ones," and all four finalists sang backup vocals for Hall & Oates as they performed their old No. 1 hit, "Rich Girl."

Contestants previously voted off the show also were invited back to perform with the four finalists.

"The Voice" became one of the most-watched TV shows in the United States earlier this season and was seen a challenge to Fox's top-rated singing show "American Idol."

During the season, it proved very competitive against "Idol," especially in the coveted 18-49 viewer group where the two shows are in a close race to be the most-watched program.

But "Idol" draws many millions more total viewers than "The Voice" - an average audience size of 19.2 million this season compared to 14 .8 million for "The Voice", according to figures from the two TV networks. (Editing by Bob Tourtellotte)

[Dennis Ng]

As I always share with seminar graduates, do NOT over-estimate these so-called Experts and Professional Investors...they are NOT as good as they portray themselves to be.

JP Morgan loses US$2 billion in Chief Investment Office!!!

And an average person if willing to learn how to invest, can also achieve 15% average annual returns a year, which is making about 100% in 5 years by practising Market Cycle Investing. If you observe, most stock market cycles are just 3 to 4 years and can go up 100% to over 200%, so making 100% in 5 years is achieveable. I know becos I've done it, from year 2002 to year 2007, I made over 200% returns when STI went up over 200% in the same time period.

And you can do it too if you learn how to invest. The good news is If you're willing to learn, I'm willing to teach.

Cheers!

Dennis Ng

JPMorgan Loses $2 Billion in Chief Investment Office
By Dawn Kopecki and Michael J. Moore - May 11, 2012 5:59 AM GMT+0800


JPMorgan Chase & Co. (JPM) Chief Executive Officer Jamie Dimon said the firm lost about $2 billion on synthetic credit securities after an “egregious’” failure in its chief investment office, which the bank says focuses on hedging.

“This portfolio has proven to be riskier, more volatile and less effective as an economic hedge than the firm previously believed,” the New York-based company said today in a quarterly securities filing. JPMorgan declined 5.5 percent to $38.50 in extended trading at 5:55 p.m. in New York.

The chief investment office has been transformed in recent years under Dimon into a unit that makes bigger and riskier speculative bets with the bank’s money, according to five former employees, Bloomberg News reported April 13. Some bets were so big that JPMorgan probably couldn’t unwind them without losing money or roiling financial markets, the former executives said.

Bloomberg News first reported April 5 that London-based trader Bruno Iksil had amassed positions linked to the financial health of corporations that were so large he was driving price moves in the $10 trillion market.

After the Bloomberg report, Dimon on a conference call said the news coverage was “a complete tempest in a teapot.”

The losses disclosed today were “a little bit to do with the article in the press,” Dimon said, without specifying who in the bank oversaw the trades. “I also think we acted a little bit too defensively” to the reports.
‘Flawed, Complex’

Synthetic credit products are derivatives that generate gains and losses tied to credit performance without the owner buying or selling actual debt. The losses occurred as the company sought to unwind a portfolio of the instruments used to hedge JPMorgan’s credit exposure.

“In hindsight, the new strategy was flawed, complex, poorly reviewed, poorly executed and poorly monitored,” Dimon said.

JPMorgan said the losses were partly offset by gains from the sales from its available-for-sale credit portfolio, resulting in a net loss for the firm’s corporate division, which includes the CIO, of about $800 million after taxes. The losses could widen or narrow during the rest of the quarter, Dimon said.

The bank is “repositioning” the synthetic credit portfolio, and the CIO “may hold certain of its current synthetic credit positions for the longer term,” the firm said.

To contact the reporter on this story: Dawn Kopecki in New York at dkopecki@bloomberg.net

[Dennis Ng]

Growing Gap between Rich and the Middle Class in Singapore. How to bridge this gap?

My simple plan is to help as many Middle Class to become Rich, this will help narrow the gap between the Middle Class and the Rich.

Then the newly rich (formerly Middle class) will reach out to help the Poor, to help them to lift themselves out of poverty. Join my seminar if you want to join in this Wealth Revolution.

Cheers!

Dennis Ng

Can Singaporeans afford luxury homes?
By iProperty | Property Blog – Tue, May 8, 2012

It takes the average Singapore resident more than half his lifetime to afford a luxury home in his country.

By Sheena Chua

43 years. That is the number of years that an average Singapore resident needs to pay for a luxury home in the city-state.

The figure was revealed in a Bloomberg report about the growing disparity between incomes and housing prices in emerging markets. The report, which compared national income averages against the prices of homes in prime locations, concluded that Mumbai was the world's least affordable home market. Singapore placed last among the 14 countries ranked, behind other Asian cities like Jakarta (61.7 years), Bangkok (67) and Hong Kong (96.4).

In Singapore, a typical piece of luxury property spanning 100 sq m (about 1,076 sq ft) costs about US$2.71 million (S$3.38 million)—roughly 43 times the nation's average annual income. This means that at an average price of S$3,149 per sq ft, a luxury home here would require an average resident with a typical per-capita purchasing power of US$59,900 (S$74,679) more than half his life to pay off.

Calculations were based on property consultancy firm Knight Frank's housing index, which compiled information from 63 different housing markets, as well as the US Central Intelligence Agency (CIA) World Factbook's gross domestic product (GDP) per capita estimates for 2011.

The GDP per capita estimates are based on the per capita purchasing power parity of each country, which compares how much money is needed in each country to buy similar baskets of goods and services.

CIA World Factbook estimates put Singapore's 2011 per capita purchasing power at around US$59,900 (S$74,679); while Knight Frank's Wealth Report 2011, released early April, revealed that prices of Singapore's luxury home segment has reached US$27,100 per sq m (S$3,149 per sq ft) as of last year.

In other words, a prime location property in Singapore costs about 43 times the city-state's average annual income. Based on the average Singaporean life expectancy of 81.3 years (based on World Bank statistics), the average Singapore resident could be paying for his luxury home for more than half his life. This is, of course, not taking into account other costs of living like utility bills and daily expenses.

Speaking to Bloomberg of the findings, head of residential research at Knight Frank Liam Bailey noted that it is not unusual for developing countries to experience such disparities in wealth. He said, "There are big differences in wealth levels in emerging markets compared to the developed world, which is part of the course for economic development. In the first phase of growth some people make big fortunes, it takes time for this to trickle down as the middle class develop and generate their own wealth."

While Singapore may not be the anywhere near the ten most expensive luxury home segments in the world, we could be well on our way there. The Wealth Report 2011, compiled by Citi Private Bank and Knight Frank, revealed that the country's luxury housing segment charted an 18% price growth—the third largest hike of the year.

However, the fact remains that over 80% of the Singaporean population still live in public housing. Most homebuyers have to take out housing loans to fund their purchases, and tolerance for surging home prices—even those not in the luxury home segment—are thinning.

These observations suggest a growing income gap between Singapore's middle-class and ultra-rich, and that Singapore still has a long way to go before the majority of its residents can splurge on luxury homes.

[Dennis Ng]

Learning is a continuous process. As I'm now financially free, I am blessed to be able to now choose to spend most of my day learning and sharing. It is a dream life, which back in 1998, was what I hope to achieve one day when I reached Financial Freedom. Now 14 years later, this has become a reality.

I am actually very "busy"...sometimes I would read till 12 midnight or so before sleeping.

For my 3 businesses, the day to day operations are now managed by 2 very capable COOs, while I only involve in strategic decisions and see my role more as a Mentor to them and my entire team. My focus for year 2012 onwards is to help develop other people, including Wealth Educators, some of them are NOW given many opportunities to conduct talks and workshops.

And whenever I see the growth and development in other people, it gives me so much joy...especially if I could help and contribute in part of the process.

[Dennis Ng]

Anyone to explain the significance of such announcement?

GUOCOLEISURE LIMITED APPROVES ESTABLISHMENT OF S$300,000,000 MULTICURRENCY MEDIUM TERM NOTE PROGRAMME

http://info.sgx.com/webcoranncatth.nsf/ ... penelement

this is quite common, many Listed companies have such a thing (Medium Term Note Program) in place. Basically, it is to prepare first, so if company wants to borrow money, they can do so under such a program...

Most of the Rich NOW are either Raising their Cash Position (mine is now raised back to about 67%, up from 60% 1 month ago) or Borrowing money to stand by for Opportunity in the Coming Financial Crisis (Genting Singapore borrowed over S$1 billion Perpetual Bond, happily paying interest rate of 5.125% to wait for any Opportunity)....

On the other hand, many middle class Singaporeans after waiting for 3 years doing nothing, now finally rushed to Invest their money. Many choose to buy properties when prices are much higher, imagine Bishan condo at S$1,700 psf when one can buy The Sail at S$1,800 psf. Or pay S$1,300 psf to buy property in Punggol when one can buy S$1,300 psf in the Resale condo markets for many better locations.

They are now rushing to invest to get some yield, some rush for residential properties to get "attractive Rental Yield of 3%" (while I bought 2 years ago at lower prices enjoy yield about 4.7%. Or they buy dividend stocks to get dividends of 4%...without knowing that many of the REITS I bought in Oct 2008 and early 2009 that time yield me dividend yield of 10% or even higher...recently, I sold almost ALL the REITs I hold as yield has come down and Asset Value has gone up (remember that Asset Value can come down fast too when market falls as REITS have to revalue their properties).

If you talk to your friends (if they are mainly middle class people) you would realise that my observation is "Spot on". And unless you talk to experienced Investors which I do, again, you will find it silly or unbelieveable for some people to want to hold millions of Cash earning next to nothing when inflation is 5%. Well, people forget that when we do deploy our Opportunity Fund, minimum Potential Upside we look for is 50%, so what is losing 5% per year and Worst Case Scenario wait for maximum 2 years, or lose total of 10% (max downside for us), if we can make Minimum 50%...

What I teach in the seminars is really what the Rich Know and Do, but after my seminars, many seminar graduates still have half-hearted belief in what I taught, having doubt whether it would work or not, since what I teach may be Contrary to what they Learned ALL these years from schools, from parents, and from Public media such as CNBC or Channel News Asia.

[Dennis Ng]

Cat's In The Cradle - Harry Chapin (lyrics & trivia)
https://www.youtube.com/watch?feature=p ... 0h5JMlpLNc

This song is a good reminder for all parents to remember to take the effort to spend more time with our children while they are young and growing.

Time really flies. Suddenly, my elder son now 13 years old has grown taller, and now he is as tall as my wife, at 1.6 m tall, and it seems like just yesterday when he was just a small child...

Actually my family means a lot to me, but my Personal Life Mission to educate the public is also very important and consciously, I made the choice and sacrifice to spend 3 out of 4 weekends teaching...of course, some may think I'm doing it for the money, but actually a simple person like me really needs very little money and I already reached Financial Freedom before I started conducting seminars on weekends since May 2009...so I know WHY am I doing it.

I told my children the reason for my absence during weekends and they told me they understand why I did what I did...I really hope they do, or it'll be sad if it ends up like the lyrics of the song...

Note: I do try to make it up by spending more time with them on weekdays and also have the weekend that I'm free to be 100% for my family only. But of course 3 weekends lost is 3 weekends lost. Nothing can make up for that.

This June holidays, we'll be going to 2 countries I wanted to go when I graduated back in 1993 but didn't becos I didn't have much money then...Paris and London...looking forward to the precious family time (together with my children and also my 82 years old mother).

Cat's In The Cradle - Harry Chapin (lyrics & trivia)
https://www.youtube.com/watch?feature=p ... 0h5JMlpLNc

Cats In The Cradle Lyrics
Artist: Harry Chapin (Buy Harry Chapin CDs)
Album: Cats In The Cradle

My child arrived just the other day
He came to the world in the usual way
But there were planes to catch and bills to pay
He learned to walk while I was away
And he was talkin' 'fore I knew it, and as he grew
He'd say "I'm gonna be like you dad
You know I'm gonna be like you"

And the cat's in the cradle and the silver spoon
Little boy blue and the man on the moon
When you comin' home dad?
I don't know when, but we'll get together then son
You know we'll have a good time then

My son turned ten just the other day
He said, "Thanks for the ball, Dad, come on let's play
Can you teach me to throw", I said "Not today
I got a lot to do", he said, "That's ok"
And he walked away but his smile never dimmed
And said, "I'm gonna be like him, yeah
You know I'm gonna be like him"

And the cat's in the cradle and the silver spoon
Little boy blue and the man on the moon
When you comin' home son?
I don't know when, but we'll get together then son
You know we'll have a good time then

Well, he came home from college just the other day
So much like a man I just had to say
"Son, I'm proud of you, can you sit for a while?"
He shook his head and said with a smile
"What I'd really like, Dad, is to borrow the car keys
See you later, can I have them please?"

And the cat's in the cradle and the silver spoon
Little boy blue and the man on the moon
When you comin' home son?
I don't know when, but we'll get together then son
You know we'll have a good time then

I've long since retired, my son's moved away
I called him up just the other day
I said, "I'd like to see you if you don't mind"
He said, "I'd love to, Dad, if I can find the time
You see my new job's a hassle and kids have the flu
But it's sure nice talking to you, Dad
It's been sure nice talking to you"

And as I hung up the phone it occurred to me
He'd grown up just like me
My boy was just like me

And the cat's in the cradle and the silver spoon
Little boy blue and the man on the moon
When you comin' home son?
I don't know when, but we'll get together then son
You know we'll have a good time then

[Dennis Ng]

Study Hard, Get Good Grades, Get a Good Job" Advice that people of my parents' era used to dish out no longer works.

With rising cost of living, it is very difficult for anyone to reach Financial Freedom or to retire with a comfortable living by age 60 or earlier.

What you need is Financial Education, learning how to Plan, Manage and Grow your money...by learning HOW to do so, you might even reach Financial Freedom before age 40 (I'm a Real Life Example of a person doing so by age 39, 3 years ago) even when I only earn an Average Middle Class income with a Housing Loan to service and 2 children to feed.

Neither PAP nor the Opposition can help you do this ie. reach Financial Freedom. The only person that can help you is you yourself by learning and increasing your Financial Knowledge.

Cheers!

Dennis Ng

A DEGREE AND DEBT
Now that Chad Larsen-Stauber has a teaching degree, the inevitable question races through his mind: What will come first — a job or the bill for the first installment on his hefty loans?
The 26-year-old who just received his master's degree in education knows that in three months, he'll have to start paying off debt of about $100,000.
"This is going to be looming over my head the next 20 years," Larsen-Stauber says. "You've borrowed all of this money and it just comes due all of a sudden. When you're already going into a low-wage job and you know that a third of your salary is immediately going to be eaten up ... that's really frightening."
But not unexpected.
Larsen-Stauber is working with loan companies on payment plans; about 75 percent of his debts are from grad school. It seems overwhelming, but he says, "there never has been a regret in my mind. I knew when I started this program, I was 100 percent sure. ... If there was one job that I ever wanted, it was to be a teacher."
Larsen-Stauber realized that three years ago when he received a bachelor's degree in communication. On graduation day, his parents posed a question: "'If you had to work the rest of your life and you never had to worry about money, what would you do?'"
The answer was easy. He wanted to work with kids, having done so at a YMCA after-school program and as a camp counselor. Teaching, he thought, would come later, so he applied for entry-level jobs in marketing and advertising.
It was 2009 and no one was hiring. Even family and personal connections didn't help.
Potential employers, he recalls, were blunt. "They'd say, 'We have the ability to be selective. The market is flooded with people with tons of experience and several degrees. We can't just hire people right out of college.' It was discouraging."
Larsen-Stauber moved back in with his parents in Chicago's western suburbs, became a teacher's assistant for a year, working with autistic and Down Syndrome students in a middle school. Then he enrolled at the University of Illinois-Chicago for a graduate degree.
As a teacher, Larsen-Stauber expects his salary will put a crimp in his lifestyle. (His father and grandfather are lawyers involved in real estate.) It'll affect everything, from where he lives to his dreams of global travel. "The possibilities that seemed limitless at one point are very downsized," he says. "In the end, it's a small price to pay for what you want to do."
He's now finishing his student teaching, working with kids with learning and behavioral disabilities. By fall, he hopes to be a Chicago public school teacher. And he's already thinking far ahead to pensions and retirement. "It used to be just an afterthought," he says. "Now you have to be wise and plan for yourself."
More immediately, his top priority is finding work. "A lot of people are saying, 'Take whatever job you can get. You can do anything for a year.' ...I'm going into this with an open mind. What I love to do is teach, and I will teach anywhere at this point."
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THE BIG LEAP
Meagan Cooper keeps an eye on Georgia's unemployment rate, knows job competition is fierce and understands it won't be easy for a high school graduate to navigate her way to success.
But the 18-year-old high school senior is convinced that work is a better fit for her than college, at least for now, so she's begun applying for jobs in various places, including an art store, a construction company and a business that sells kitchen appliances.
Some friends are going to college and many others are joining the military — something she considered — but her future is up in the air.
"Yes, I worry a lot about it. I'm scared," she says, "but I believe that's the best thing for me to do."
She faces a dramatic transformation. "All of a sudden you're going from being a kid in school to out on your own and not knowing what to do," she says. "I'm just afraid I'll get out there, try to do my best and end up getting lost along the way ... that I'll get wrapped up in the outside world and I won't want to go to college."
Cooper says she's leaning toward a technical college, instead of a four-year school. She has two passions: engineering and design and art, especially painting, but hasn't decided which one she'll pursue. Until then, she says, being a student makes no sense.
"I'm just plain worried about wasting time and money," she explains. "I don't want to rush into college, not knowing what I'm doing."
Especially these days. "My view of the economy is it's horrible right now, which is another reason not to go to school," she says. "I worry I wouldn't have enough money and I'd have to take out school loans. I'm concerned I'd get in debt and ruin my credit at an early age."
Cooper says her mother has urged her to continue her education, fearing she'll meet a guy, get pregnant and abandon college plans. Her father, who lives in Florida and has set aside money for her schooling, recommended she list the pros and cons of college and work. After she did, her choice was clear.
"He tells me I deserve the best and go after it," she says. "I'm trying to figure out what is the best, what do I want to become."
In a perfect world, she'd like to paint and travel. In real life, she's a pragmatist.
"I'll have to go back to school eventually, I know," she says, "if I want to have something better in life."
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A SECOND DIPLOMA — DECADES LATER
When Doreen Groshan started her job search after devoting 15 years to raising her two sons, she was armed with credentials:
A bachelor's degree in community health. A stint as a Peace Corps volunteer in New Guinea. Work experience at a health clubs, a weight loss center and managing a group home for mentally disabled adults.
None of that mattered. Potential employers, she says, saw her as a homemaker, an "oddity" whose choice was almost "irrelevant in modern times." Groshan soon reached a conclusion: A 1985 diploma wouldn't open any doors.
"College degrees seem to have an expiration date," she says. "There's a feeling you've done nothing in the last 15-20 years. There's a very negative view of stay-at-home moms, apparently."
Groshan wanted to work, partly for the job, but also to start building a nest egg for herself and her husband. And so, she decided she needed to adapt.
"Instead of feeling sorry for myself," she says, "I thought I had to reinvent myself. I needed to get more training and more skills and show I have qualifications to get back in the job market."
She enrolled in Blackhawk Technical College in Janesville. It was affordable, just 10 miles from home and offered a chance to be a physical therapist's assistant, which suited her and has good job prospects. (All of last year's graduates found work; the average salary is about $23-$24 an hour.)
There was one downside: Since the program is small, Groshan had to wait three years for an open slot (admissions will be competitive starting next year). She didn't remain idle, though. An avid runner who clocks 6 miles a day, Groshan became a track coach at a local high school.
Like many mid-life college students, Groshan was initially scared of studying, memorizing and taking tests.
"I thought, 'Oh no, how can I possibly do that?' I had to take physics," she recalls. But her age worked in her favor. "I'm a much better student that I was at 20," she says. "I don't have the distractions. My brain works fine."
To say the least. Groshan had just one B in two years.
Her impressive academic record may help when applying for jobs, but Groshan anticipates her age — 49 — could be an obstacle. She noticed that while attending a meeting of a physical therapy organization with classmates, mostly in their 20s.
Job recruiters "would not pay attention to me," she says. "I was the last person they addressed. I suppose they're wondering why someone my age is even a student."
Maybe, she says, they thought she was a professor, but either way, she says, "You've got to have a little thick skin."
But it was revealing, too.
"I think it made me realize the truth of the situation: People do look at youth and its importance," she says. "But age and experience have advantages, too. If asked the proverbial question, 'Why should we hire you?' I would say you don't have to worry about day care, child care. I don't have school events I have to get away for."
"Older workers have a good reputation for a strong work ethic and being dependable," she adds, "I need to work a little harder to show why people should hire me."
Groshan, who graduated May 12, will take a national written licensing exam this summer and start sending out resumes, anticipating an offer, despite these tough times.
"I think something is going to work out," she says. "I'm confident it's going to happen."