![](\"https:\/\/blogger.googleusercontent.com\/img\/b\/R29vZ2xl\/AVvXsEh_kIExdg5zEccH04Os6jmIazDW3LnAIkHovOcFXKrMlgza4JMnOtEtdTp48IwGaHmc-iN2aHIhpF3eB-UWf-uORotSfnpWjJtzaKb8F5oe2QcPx_fyRc56z2bYMOBjo8QJ5AwCWkf-HjnHvQ-cV3y6iGfoJHZHuRm_EpD1PRli-0Q5k_k_qwzR3Wnq8g\/s1080\/Jan%2023.png\")
<\/a><\/div>\nPortfolio allocation as of Jan ’23.<\/span><\/p>\n \u2022 SG Shares: CDG, DBS, SGX, Valuetronics<\/span><\/p>\n \u2022 SG Reits: Syfe Reit+<\/span><\/p>\n \u2022 US Growth: BABA, INMD, PYPL, SHOP, TDOC, UPST<\/span><\/p>\n The rally so far in 2023, coupled with additions to the portfolio, propelled my total invested capital to record highs. But I’m having mixed feelings to be honest, on one hand it’s nice to see my portfolio value go up, yet having undeployed cash on the sidelines and seeing fewer buying opportunities is frustrating.\u00a0<\/span><\/p>\n For this month I only added to my position in CDG, a laggard which was still trading below its Covid lows recently. This is mainly a recovery play and I’ve written about its merits in my previous posts. Another interesting company that I’ve looked at is Haw Par. For my Singaporean friends, you may be familiar with the Tiger Balm brand, which is manufactured by them. But beyond that, they are also an investment holding company with stakes in UOB and UOL. There is a significant holdco discount at the moment, with the current share price trading at a 30% discount to the value of its investments + cash balance. And that’s before we even include the value of their healthcare business. I think the main concern would be that this could end up as a classic value trap, hence I’ve yet to decide on whether I should invest in them.<\/span><\/p>\n \u00a0<\/span><\/p>\n FIRE musings<\/b><\/span><\/p>\n I was informed that my post last week had made rounds in I will continue to write about FIRE. I won\u2019t say FIRE is controversial<\/i>, To some, especially those in the older generation, To me, in addition to the above, \u201cretirement\u201d is simply Thus, in this context, I want to “retire” as soon At this point I want to share some comments I left on Thomas posted an Instagram reel recently, where he shared To summarise his points into a few sentences:<\/span><\/p>\n <\/p>\n \n \u00a0<\/span><\/p>\n<\/p>\n I left some comments on Thomas\u2019 post because I felt that while I have reproduced my comments below, with additional comments from me in blue.<\/span><\/span><\/p>\n [Me]<\/i><\/b> I think practically speaking, it is Also, regardless of whether people are pursuing FIRE or Here I want to bring in some What I\u2019m trying to illustrate is that Pursuing FIRE does not necessarily involve the trade-offs That said, I think it’s great that you’ve found an area But as to whether this is possible or probable for the <\/p>\n \u00a0<\/span><\/p>\n <\/i><\/p>\n [Thomas]<\/i><\/b> Great points. A balanced approach But they could very well learn to monetize their love for <\/p>\n \u00a0<\/span><\/p>\n <\/i><\/p>\n [Me]<\/i><\/b> Thanks for your reply. Yes, the Messi I agree with you that people should pursue what they love In the order of highest to lowest risk:<\/span><\/i><\/p>\n 1) [high risk] Starting a business right after 2) [moderate risk] Working & saving up for some years
\nsome forums, and generated some fervent debates. I briefly read through some of
\nthe comments and I think while there were strong opinions on both sides,
\nultimately the discussions were largely civil. I think that\u2019s great \u2013 in a well-functioning
\ndemocracy<\/i> we need more of such debates \u2013 if only other contentious topics
\ncould be discussed in such a gracious manner\u2026 We can all be nicer to each
\nother, even if we don\u2019t agree on certain issues.<\/span><\/p>\n
\nbecause that carries a negative connotation, but I\u2019d say FIRE is still largely misunderstood<\/i>.
\nThat\u2019s because \u201cretirement\u201d means many different things to different people,
\nand with the variations of FIRE (Coast FIRE, Lean FIRE, Barista FIRE, Fat FIRE
\netc), sometimes even those in the FIRE community can\u2019t agree on the technicalities.
\n<\/span><\/p>\n
\n\u201cretirement\u201d could mean sitting in front of a television 12 hours a day. A more
\nwell thought out retirement life, could involve travelling, exercising to for a
\nhealthy lifestyle, lifelong learning, activities to maintain strong social
\nbonds and much more. The latter requires more money, of course. The former just
\nrequires a television.<\/span><\/p>\n
\nanother word for \u201cbeing able to pursue my dreams without any financial
\npressure”<\/i>. Note that in the above scenarios, there\u2019s no \u201cright\u201d age
\nfor these \u2013 even though when you read the sentence \u201csitting in front of the
\ntelevision for 12 hours a day\u201d, you might have pictured a 70-year-old granny.<\/span><\/p>\n
\nas possible. Once I achieve financial independence, I will “retire”.
\nThere are just too many things that I want to pursue \u2013 regardless of whether
\nthey are practical or lucrative.<\/span><\/p>\n
\nThomas\u2019 Instagram reel. Thomas writes about investing at Steady Compounding,
\nwhere he shares his research and deep dives into many companies. I enjoy
\nreading his articles and I think he\u2019s done a great deal to uplift financial
\nliteracy not only in Singapore, but globally. <\/span><\/p>\n
\n\u201cWhy I abandoned FIRE<\/a>\u201d. <\/span><\/p>\n\n
\nof money<\/span><\/li>\n
\nsustainable manner<\/span><\/li>\n<\/ul>\n
\nhe brough up some good points, the lifestyle he is advocating is not mutually
\nexclusive with what FIRE aspirants aim to achieve, but rather, just different
\nways to reach the same destination. <\/span><\/p>\n
\ndifficult for most people to find their “dream jobs”. What they may
\nbe passionate about may not be able to pay the bills. e.g someone loves playing
\nfootball, but what are the odds that they can make a career out of it, or end
\nup as Ronaldo or Messi?<\/i><\/span><\/p>\n
\nnot, think the vast majority do not “hate” their jobs. Rather, they
\nare just working because they have to<\/b>.<\/span><\/i><\/p>\n
\nadditional context \u2013 I have found 2 surveys on Singaporean\u2019s attitudes towards
\nwork. The first one is from CNA<\/a>, quoting a survey which found that \u201cMore than
\nsix in 10 PMETs agreed that it is true or very true that they have found a
\nmeaningful career, and that their work makes a positive difference in the world\u201d.
\nWhile the second survey from PwC<\/a> found that \u201cOnly 12% (compared to 25%
\nglobally) strongly agree that their jobs are fulfilling\u201d.<\/span><\/span><\/p>\n
\nwhile it is definitely good to advocate for people to find their \u201cdream\u201d jobs,
\nultimately it is difficult for the majority<\/i> to land something ideal (or
\nfind their Ikigai<\/i>). Anecdotally, whether they are pursuing FIRE or not, I
\nthink for most people, after working for some time, say to themselves \u201cmy boss
\nis not bad<\/i>\u201d, \u201cmy colleagues are not bad<\/i>\u201d, <\/i>\u201cmy salary is not
\nbad<\/i>\u201d,<\/i> and then just end up going with the flow, and before you know
\nit 40 years has passed and you\u2019re in your 60s. Speak to your family, relatives,
\nfriends and colleagues, and I\u2019m sure similar sentiments will be shared.<\/span><\/span><\/p>\n
\nyou mentioned. I think of FIRE as simply a way for one to pursue their passions
\nwith little to no financial pressure. Barista FIRE for example, is a decent
\ncompromise of having that financial safety net to pursue interests that may not
\nbe lucrative.<\/span><\/i><\/p>\n
\nwhich you are 1) skilled at, 2) passionate about, and 3) able to make a living
\nout of it. I’m sure you worked hard for this and I appreciate your work.<\/span><\/i><\/p>\n
\nvast majority of people – I would say it is very challenging to say the least.<\/span><\/i><\/p>\n
\nwould always be the best. But just to push the conversation a bit further, it
\nwill be near impossible for someone to be the next Messi or Ronaldo.<\/i><\/span><\/p>\n
\nfootball by being a coach or building an online presence. I think in today’s
\nage, there is an abundance of ways to monetize your interest.<\/span><\/i><\/p>\n
\n\/ Ronaldo one was an extreme example, but if we were to use more common
\nexamples – someone may like baking, but what’s the likelihood of running a
\nsuccessful bakery? Or someone may like plants, but how practical\/lucrative
\nwould it be as a florist?<\/i><\/span><\/p>\n
\nas far as possible. But I view the timeline of jumping towards
\nentrepreneurship\/passion as a something of varying riskiness.<\/span><\/i><\/p>\n
\ngraduation. Examples of people that have done well
\nwould include SecretLab, which was started by 2 university students, now worth more
\nthan a billion dollars. Zenith Education, which was recently featured on the
\nStraits Times, within 3 years scaled to become an 8-figure revenue and 7-figure
\nprofits business. An Acai Affair \u2013 founders started the company when they were 20
\nyears old, and now operates more than 10 outlets across Singapore. Seedly \u2013
\nKenneth and Tee Ming started the personal finance firm \u201cfrom their dorm rooms
\nin NUS\u201d. <\/span><\/span><\/i><\/p>\n
\nbefore striking out on your own (which is what you did; if I recall you shared
\nthat you saved up 24 months of expenses before making the leap, at around
\n30yo?). <\/span><\/i><\/p>\n