Starting out

My eyes are always on retirement, and I welcome you to journey with me.  Learn from my mistakes, and benefit from early advice.

I started out in Singapore back in 2007, exactly 10 years ago. Wide eyed and ready to plunge myself into the corporate world, eager to climb the ranks to become a corporate leader. I was lucky enough to have an endowment policy mature then, giving me about a $40k head start.

It was in the middle of the market uptrend, and stocks were hot! So like most graduates who thought they studied finance and knew the stock market better than anyone else, I ‘invested’ (or rather gambled) in the stock market. I remember buying counters on the HK market such as Alibaba, Li Ning, Geely auto, BOC, ICBC, thinking the all mighty China will not fail.  I remember the “through train” promise linking the HKex to the Shanghai index, which sent the HKex past the 25000 mark. We all know that came to an abrupt and painful end. I panicked and cashed out at the bottom – can’t be more noob than that. Bitten hard, I vowed not to touch stocks again and focused my efforts elsewhere, on gaining experience in my job, on real estate, on global trends.

Fast forward 10 years. Ok, so it looks like I missed the boat on stocks. On hindsight, staying invested is key. Looks like those gurus were right after all.  All this talk about dollar cost averaging comes rushing back at me, saying i told you so.

So what can I do now? I’m thinking about how I can support my family, in the event that I’m out of a job. It’s inevitable anyway, nobody is indispensable.  Being a stay-at-home dad is awesome, but its a long road towards that. There are so many things to consider, buying a home, buying a car, paying for children’s education, lifestyle choices – shopping, eating, traveling, etc.  This is where it begins.

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