(Post 164/Year 3 Week 25)TipforThought:What's the hardest truth of life? and What's are the biggest career mistakes to avoid

What's the hardest truth of life?(Credit to Phillip Makohliso)

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1. Your parents are the only people who become genuinely happy when you succeed.
2. People want to see you succeed… but not more than them.
3. A friend in need is a friend indeed. The reverse is true if you get what I mean.
4. The way you are brought up contributes about 70% to the person you grow up to be. unfortunately, we don't get to choose our parents.
5. Genuine love is rare if you stumble upon it cherish it.
6. Nobody will die for you. You are on your own so man up.
7. Life is so unfair but it is still beautiful.
8. Bad things happen to good people.
9. Growing up comes with more responsibilities, thus life gets even harder as you grow.
10. Life is a journey with an unknown destination. You only cross the bridge when you get there… sometimes you are not even sure whether the bridge is there or not. Live today tomorrow is not promised.

What's are the biggest career mistakes to avoid? (Credits to Dandan Zhu)


                                               

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#1. Aiming too low. Whether it’s salary, title, or type of company, people are too intimidated by interviewers, scared of asking for what they want at every stage of the interview process, and suffer from imposter syndrome.

This is a direct result of decades of indoctrination by authoritative educational, parental, and societal institutions that tend to demolish your self-confidence in an effort to control you. This persistent lack of confidence is the #1 issue candidates suffer from when it comes to selling yourself effectively.

#2. Saying no to yourself. Because you feel that you lack the “qualifications” the job description asks for, you end up not going for the opportunity. This continued lack of self-confidence through self-discrimination, combined with the obsession of fulfilling requirements down to the last drop, handicaps good professionals from achieving career greatness.

Although job description doesn't matter, many candidates still try to play by the rules. They don’t understand that the job search is like war. The victor obtains the spoils. It’s every man and woman for themselves.

There are NO rules in job search! This is why often psychopaths and liars sometimes get the BEST jobs and offers. They understand manipulation.

Too often, the most accomplished candidates lose because they don’t know the song and dance that is the job search.

#3. Not understanding the modern job search ecosystem and process. There are 4 major hiring entities that you need to know how to manipulate, maneuver around, and negotiate with. The HR person, hiring manager, headhunter, and internal recruiter. Each person has a slightly different incentive, process, and interaction protocol. You should behave accordingly.

In addition, the process of job search is no longer: look on the web for listings, apply to jobs that you like, wait for feedback, go interview. The new process is: create your marketing documents (including your resume ), master LinkedIn networking, leverage the 4 hiring entities mentioned above, utilize the volume of interviews to your advantage, negotiate all throughout.

#4. Becoming a jack of all trades. The most dangerous problem candidates run into that seriously limits their market value and range of future career options is becoming a generalist. Corporations no longer value soldiers, willing to do any deed for pay. They want professionals, experts, and true masters of the industry and job vertical. They NEED these experts to remain viable and stay ahead of their competition.

No longer is being eager and willing to work for a firm for the next 25 years a valuable candidate trait. Firms want true market leaders. That means, specialization and experience within a niche skill are not only a good-to-have, but a MUST-HAVE to remain a relevant and desirable professional.

Lastly, #5. Having no financial plan nor power. Most professionals forget that they work largely to make a living. Since most people accumulate worse spending habits every year, people rely on their jobs more and more to fuel their lifestyle. This dependent relationship on a job quickly spirals out of control once their house of cards experiences even the smallest tremor.

Because of your deep reliance on your paycheck, your emotions run amok when experiencing any type of career turbulence.

Since your financial woes are so heavy and over-leveraged, you can’t see straight, let alone find a career you enjoy!

In most of these cases, professionals tend to work simply to chase the dollar, losing all meaning and passion for what they’re working towards outside of living the high life they buy with their post-tax dollars. They become money-mongers. Greed takes precedence. Career meaning, purpose, and ethical behavior quickly fall by the wayside when confronted by financial greed.

This is the #1 cause of corporate fraud, corruption, pollution, and general nastiness (think: Wolf of Wall Street, Enron, and Bernie Madoff). Individual greed driven by a need to keep up with the Joneses pollutes corporate cultures by attracting people who are in it just for the money.

In conclusion

Career problems aren’t simply an amalgamation of your job’s stressors. Your personal, financial, and professional problems, weaknesses, and vices will all meld together to gang up on you, if you let your guard down or stray off the righteous path of moral behavior.

Stay ahead of the game by learning, networking, and speaking with career experts, colleagues, mentors, and influencers that have the RIGHT advice to guide you.

Thanks for reading!

(Post 163/Year 3 Week 23)Company Report:DBS

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(Post 158/Year 3 Week 22)TipforThought: Building and managing your portfolio

Quick guide on building and managing your portfolio!

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1.Getting started and what to watch out for

• Most people save and invest because they want some money for future goal.
• If you are new to investing ,here are some step to help you get started on an investment plan.

2.Setting goals

• What are your goals?Common goals include paying off your student loan ,accumulating fund for retirement or savings for your children education
• Work out how much money you need for your goal
• Work out when you need the money for your goal.The time you have available to invest leading up to when the money is needed is known as your investment horizon.

3.How much can you afford to invest?

• How much money do you have available to invest ,after paying your  household expenses,insurance premium and debt as well as setting aside some savings?
• Can you cut back some expenses to free up more money for saving or investing?If your investment suffer a loss,will it impact your debt and other commitment ,or others goals?

• Do not commit to pay or invest more than you can possibly afford  long term.Look for a cost-effective alternative .If the product requires you to pay,what will be consequences if you do not have enough to pay.
• Do you intend to invest in one lump sum or fixed amount a regular amount ?e.g monthly,annually?
• How much time do you have/what's your age ?/do you have  time to ride out short term fluctuations or losses 

4.Know yourself and how some investing basics apply to you

5.Consolidate and priorities your goals

• After examining what you need ,when you need it,how much you can invest , and how much risk you can afford to take.
• You may need to re-prioritize your goals.You may need to settle for a smaller house or a smaller car,but it would be unwise not to build up adequate retirement savings and provide for adequate healthcare cover.

6.What's step should you take to achieve your goals?

• This could be saving up or Investing in a diversified portfolio to help you achieve what you need.Always keep the step above in mind when considering what action to take .
• Choose your investment based on how suitable it is for your needs and personal circumstances,how well you understand the product ,and how it will fit in your diversified portfolio to reach your investment objectives
• Do find out whether you can manage risk or limit losses once you are invested.Remember there are product where you can lose all your initial investment,products where you can lose more than your initial investment and products whose market values go up and down.
• With the latter,do be aware that markets could be at a downtown when you want to take out your money,so it is important to monitor your investments carefully in case you need to liquidate or take other action sooner.
• Do consider dollar cost averaging as a means to accumulating the assets you want

7.Monitoring Performance,Rebalancing and Adjusting your investments

• Investing is an on-going responsibility.Even if you can choose to be somewhat passive -Investing in unit trusts or funds that track indices - you should regularly review the performance of your investments to see if you are on track to achieving your goals .
• Keep watch over the factors which may influence the performance of your investments .You may need to take if your investment is under performing.

Thanks for reading!

(Post 157/Year 3 Week 21)Company Report:Singapore Others(EXCLUDE REIT)

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