Read? How boring 'secret' to being rich
At yesterday lunch, this young FT who turned Citizen came to join me. We conversed in Chinese about career and investing. This is Uncle8888 first time talking about investing in native Chinese language. Ha Ha!
He realized the nice thing with Chinese words. It sounds alike and true too!
In our 40s, we should better be wise enough to know where are we heading in our career development and which path to take before we realize it too late to make adjustment for significant future outcome ...
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Hi CW8888,
ReplyDeleteErm.... your picture seems to suggest that 前途 and 钱途 are mutually exclusive, or one cannot continue to climb the corporate ladder and invest at the same time, which I beg to differ in opinion.
As SMOL pointed out in one of his post, we all start investment with money earned from our full time job. The contribution from this "actively earned money" towards our portfolio will continue for a long time, until the "passive" income catches up with our expense.
So while one starts with investment, he should not neglect his job but continue to do his best. If he can earn more from the job, then he will be able to invest more and reach his investment goal faster.
When one can climb corporate ladder to reach the Top Mgmt and earns multi-millions dollars per annum, why bother looking at the market to build up wealth?
DeleteMy Group CEO earns one year, many of us in the company will have to re-born 2 to 3 times and work 2-3 lifetime and may not even match up.
See huge huge wealth gap between ordinary workers and the CEOs.
true true
ReplyDeleteworking and long term investing can co-exist
working and trading would be harder as you need to closely monitor your trades
Once we get caught too much into this investing and trading stuff, we are likely to use office hours to "analyze" and "monitor", we think that bosses upstairs are sleeping and not aware. These are career damaging movement. One needs to be fully aware as IT communication is fully logged and monitored.
DeleteOne true story, once there was man who was caught red-handed by his boss chatting during office hours. Nowadays he completely disappeared from chat box.
True!
DeleteIn the past years, I maintain low profile; but nowadays, I am very open to any colleagues who wants to know more.:-)
The sad truth in corporation and we must accept it that many of their employees will peak at their career in their 40s or 50s and thereafter their pay and bonuses will be stuck there and hardly move upwards except for occasional minor adjustment for inflation. For these folks, how to build wealth from their career path? If they still don't spend more energy, effort and time to learn and accelerate on their investment path? So how to retire comfortably on investment income?
ReplyDeleteI kind of agree with the mutually exclusive part if we are talking about climbing extremely high up at levels where earnings are >Sgd 300k p.a.
ReplyDeleteAt that level of income, it's very hard to focus in stocks n yet in career. Got to choose one to focus to have long term success.
That kind of saving and capital. Many of them will choose investment properties and not introspecting for stocks that take up too much time and effort.
Deletetemperament,
ReplyDeleteDon't try to put a big hat on me!
You have not done too bad yourself... You ITE qianbei you!
Big daddy is now switching sails to focus on competency instead of paper qualifications. Will take some time to fruition.
In the future, there will be less bitching on Foreign Talent - not when your competition now comes from non-graduates like you and me ;)
Sometimes the discussion can be quite depressing...
ReplyDeleteI suck at my job. I've hit my glass ceiling, I don't like my boss and colleagues, etc. So I invest to escape.
Contrast it with the self-discovery that you LOVE and ENJOY the investment process - you invest to achieve.
We either make a career change to get paid to do what we like in the investment industry, or we strike out on our own to be our own full-time investor.
Isn't this how entrepreneurs do it?
Or maybe would be entrepreneurs should wait till they are financially free first before following their hearts?
One day when we see younger folks overtake us it may be game over for us unless we can strongly turn the tide back. :-(
DeleteIn investing, we can turn tide over and over again. We just need capital.
Delete