Thursday, April 23, 2009

Service Industry...

I was thinking about becoming a waiter recently. If money runs short before I get my act up, I may possibly end up as a waiter for a few months or so to get some additional cash so that I might eat!!!

Yea... I'm not really thinking of pursuing that as my long term career. However, as mentioned above, a guy's gotta eat so I might have to do that to feed myself. It isn't really that bad. Money won't be great. But there's alot of freedom and a lot less stress. Anyway, I know thats gonna be a part time stint along my path to finding my dreams. Everyday will just be a new day... If a bad customer comes along... well... I probably won't be seeing him tomorrow anyway. Totally different life from a corporate world. If you don't like someone... well chances are you'll see him/her everyday in office.

Well the day hasn't come for me to go down this route yet. I hope I don't have to do this. But I'm prepared, just in case.

Analysis
Pros:
Relatively flexible timetable.
Simple job.
Bad experiences don't often repeat themselves.
Bad customer's don't keep coming back everyday. But bad colleagues might still exist.
Can quit anytime.
Tips from customers.

Cons:
Not much money.
Not much career advancement. (Short term for me so its not too serious.)
Some people might look down on waiters.

Monday, April 20, 2009

Internet Income...

Over the recent weekend, I stumbled upon some websites with programs to help you suppliment income via the internet. This can be done through trading, completing surveys and other methods. As I kept on reading, this idea intrigued me more and more. This was truely a remarkable find and the websites really changed my perception of how money was made on the internet.

On the right of the page are some of the pages which I was looking through over the weekend. Most of them have significantly changed how I view things and had a direct impact on what I will be doing in the near future.

Many of the pages viewed are typically greeted with much sceptism. Trading robots? Surveys? Self help books? Do they really work? Well, let me put it this way, these things work depending on how much you learn. Everything we do requires effort. Ever since young when we have studied in school, we learn. Then we progress to College and we learn even more. And when we eventually find ourselves in the workforce, we apply as much as we have learnt in our jobs. Similarly, any of these programs require reading and dedication to succeed. One might not even be successful on the first try even if you follow all the steps. HOWEVER, these programs have succeeded for some people and may also help you to succeed. As in your day jobs, if it fails the first time, try again. How much loss will there be? But, if one does not put effort into these programs, it is definate that the programs are doomed to fail.

For instance, if one plans to use surveys to suppliment income. However, after reading the methods, one does not follow the steps diligently or only applies the steps every 3-4 times a week, I am sure that the success rate will differ from someone who bothers to follow all the steps in the program 7 days a week.

I am truely intrigued that so many people have found ways to remove themselves from the vicious rat race of the corporate world and have found simplier ways to make money. Some of the programs promise more returns than others but all in all, these programs actually find easier ways to make money in general. At your own time and in the comfort of your own home. The marvellous thing about these programs are that they cost only a small fee for the program, book or cds. After thinking about how much I have spent on the lottery or in casinos trying to strike it rich. Or how much money I have spent on beer or wine. The programs cost an insignificant amount for the possibility of an easier life.

I have decided to look seriously into these methods for my next steps forward.

Analysis
Pros:
Low cost.
Possibility of high returns.
Home based.
Not necessary to be on the computer to make money all the time.
Online income can be earned even on vacation as long as there is internet connection.

Cons:
Disappointment. Effort needs to be spent on the programs. If one hopes that the programs will just give away free money, one is seriously mistaken.

Thursday, April 16, 2009

Social Work...

Social work is not for everyone. Social work ranges between helping the financially troubled elderly locally, helping troubled youths, going to third world countries to teach those in poverty how to make straw bags/hats so that they might be able to make a living for themselves, etc. All these examples take a very dedicated group of people to spend their time on and unless one is truely passionate about making a difference in the lives of others, one is doomed to find this road lacking. Considering the typical social worker gets a lower than normal pay as funding is usually from donations and the harsh conditions of some of the places whereby one has to venture, I feel that this road would probably not be to my style.

However, for those who strongly feel that whales deserve saving, forests deserve protecting, the poor should have an avenue to prosper and be removed from the poverty cycle, etc, then this career is truely for you. And I truely will congratulate you should you feel that your passion lies on this path as how many people can really find what they truely believe in and are willing to work happily for?

Analysis
Pros:
Truely a fulfilling career should one feel the calling for it.
Accumulate good karma.
See the true sights of the world. (The forgotten areas of the world that needs help.)

Cons:
Low pay, low increment.
The true sights of the world might be too stressful to take in. Considering the luxury which we all see around us as compared to the poverty some people live in.
Hygiene. Depending on where the social work brings you.

Monday, April 13, 2009

Physical Instructor...

I recently took up kick boxing on weekends in my attempt to keep fit.

As I watched my instructor shout out instructions during class, another path came to mind. A spin-off from the previous post of being a physical education teacher, a physical instructor would also be very interesting. I will term physical instructor as anyone who can teach any form of physical activities, such as, gym, aerobics, dance, kickboxing, yoga, scuba diving, etc.

A career in this line would also be interesting. Keeping fit whilst earning your pay and making friends along the way. There will be some qualifications to be earned before being able to teach such classes. However, once attained, teaching would probably not be too difficult. Furthermore, most of these classes will keep going and either people will keep signing up again for more classes or recommend friends to join the classes. Thus, going this direction is pretty much self sustaining. Also, this job is relatively on your own time. The schedule for teaching is set my oneself and runs for about 3 months or so.

Unfortunately, the pay for this varies depending on your popularity. Another minus point for this job is that typically it runs into evenings and weekends. When others are enjoying their weekends or resting during evenings, a physical instructor still has to work as usually classes are scheduled after working hours. Although holidays/breaks are self proclaimed, this would result in a drop in earning as one would have to stop teaching to take a break. Thus, this is also another minus point. Dance, kick boxing teachers, etc also have to do some planning before classes to choreograph the routines. Therefore, some creativity would be needed to maintain the interest of the students.

Although an interesting path to take, I feel that I might not be able to excel in this line as I think that the connections required in this line differ from the connections which I have already established. So, although a good, fun career to follow, I feel that this move would not be for me.

Analysis
Pros:
Keep fit and earn at the same time.
Holidays/breaks as and when one plans on having them.
Fun and keeps a large social circle of clients/friends.
Relatively high/medium pay.

Cons:
No income during holidays/breaks.
Working time is mostly when others are having their break. Which is weekends and evenings.
No increment, unless increase teaching fees, which may result in clients dropping off.

Wednesday, April 8, 2009

Back to School...

As the new year begins, another thought popped into my mind.

Teaching was a stable and yet relatively simple career to pursue without the stress of the corporate world. Recently a friend of mine joined the teaching force and this has inspired me to take a closer look at following her footsteps.

Simply put, how difficult is it to handle a bunch of kids or teenagers?
Realistically speaking, kids (ages between 7-12), might not be too difficult to handle. In my country, to teach such ages, one would require a teaching diploma along with other qualifications. Nonetheless, the syllabus for kids is not extremely difficult and a typical graduate would be able to do well in such a career should they have a passion for kids and making a difference in shaping a child's life.

Ages 13-18 would be a lot harder to handle as these are the teenage years. Also, much higher qualifications would be required to teach these ages. A specialised degree would be required to teach respective subjects. (i.e. a degree in Mathematics would be required to teach Math, a degree in Economics would be required to teach Economics, etc.) Furthermore, as these are the more rebellious years in a person's life, it would be more stressful to be teaching such ages. However, these might also be the most rewarding years to be teaching as these are the years which shape teenagers to be better people in the future. (aka, To Sir With Love - http://en.wikipedia.org/wiki/To_Sir_With_Love)

Ages above 18 would truely require alot of additional education which most people would not have. To be able to teach/lecture in a College as a professor would require a Masters or Doctorate. Furthermore, professors also have to come up with a written paper every quarter or so to be published. At the time of writing this blog, this option is totally irrelavent as I have no intention of getting such higher education. But, if acquired, such a career would be quite interesting as College lectures are significantly less than High School. Thus, there would be much more free time teaching in College as compared to High School. Pay would also be significantly higher but there would be stress to produce a paper every few months so maintain the mark of a professor.

After consideration, I feel that this does not fit into my idea of something which I would like to do as yet.

I once had an idea to drive my small car to school, teach physical education, make people run around and play games and teach new games to students. Earn money whilst keeping myself fit as well. Maybe end my day about 6-7p.m. after teaching gym classes as additional curricular activities. Then drive my small car home, enjoy a simple dinner with my wife, and the next day repeat the same simple routine. =) On top of that, enjoy the summer and winter vacation, the short 1 week break in March and September. It seemed a nice relaxing life. However, these thoughts will be reserved as a back up plan should my other plans fail. (Other plans still yet to be determined.) =)

Analysis
Pros:
Rewarding.
Not too stressful.
Holidays follow school terms. Thus, holidays in June and December and some weeks in between.
Job security.
Predictable job timings.

Cons:
Not a lot of income, not very high yearly increments.
Depending on personality. Job might be too stressful if students cannot be controlled.
Hanging around children might make one unrealistic about the real world outside. (i.e. might be staying in an ivory tower.)
Lack of social circle. (I know of some friends who have difficulty in finding their other half due to the lack of social interaction.)

Saturday, March 28, 2009

Small Businesses... Internet Businesses...

Another idea that popped up in my mind was the idea of setting up a business. Thus the thought process was what to sell (Product or service)? If product, where am I going to get my supply from? Overseas or Local? Who can give me a good rate? Such simple questions but so many answers.

Accountants can sell accounting services, advisory services, lawyers can sell legal advisory services etc. Bakers can sell cake and bread, chefs can set up a small eatery. Drivers can set up a delivery company, the list goes on and on. Such are the paths of those who have skills to sell.

Alternatively, one can import electronics from Japan, accessories from Thailand, clothes from China, etc... again the list is endless.

Next comes the question of who to sell to and how? Setting up a shop enables a simply way of advertising as people are more likely to see your shop and enter the shop. However, rent becomes a large overhead and might put you out of business earlier than expected. A small pushcart type of shop might be more cost efficient for small start-ups selling accessories and clothes. Thus, a shop would be an effective way to sell products/services as it provides a visual influence and creates a tendency for people to enter the shop and view what the business has to offer.

An online business is also feasible. However, due to the lack of brick and mortar, a visual impact is not present. As a result of this, creditability might not be present. Also advertising is more difficult. Although there are avenues such as Google Adwords, etc, the web is such a big network that one's personal website might be lost in all the other webpages which are around. A big plus point of having an online business is that the cost is extremely low. Furthermore, there is also a possibility of having overseas clients.

I have a friend who had an online blog selling handmade trinkets for a couple of dollars. She managed to make about SGD1000 per month selling such accessories to local and international clients. Although not alot of money, she was doing this during her schooling and it was additional allowance for her spending. I believe if she wanted to expand and continue this line, it would have been possible. However, as she is furthering her studies, time did not permit for her to continue.

I am very interested in this idea as it was always my ambition to be a business owner. However, the questions above have to be answered and I will have to spend much of my time thinking about them.

Analysis
Pros:
Own business, own time, own boss.
Potential to make large profits in the long run.
Doing what you like to do. (Sell handicraft if you like to make them, sell cakes if you like to bake them)
If a small start-up, small capital is required to set up a blog selling accessories.

Cons:
Some risk depending on how you start. As rental is a very high risk, a brick and mortar shop might not be advisable in the beginning. However some businesses require space to operate.
If the business is capital intensive and a bank loan is obtained, there is a bankruptcy risk if unable to return the bank.

Wednesday, March 25, 2009

Trading...

After about 2 weeks of playing around, I finally decided to get down to doing research and exploring what I wanted to be doing with my life. Being a Finance graduate, I decided to look deeper into the possibility of doing online trading in derivatives so as to gain significant profits in the minimal amount of time. I will not go into details on how these products work as you may be able to read them on Wikipedia.org for more detailed explainations.

Derivatives
http://en.wikipedia.org/wiki/Derivative_(finance)

1) Options Trading
http://en.wikipedia.org/wiki/Option_(finance)
http://en.wikipedia.org/wiki/Options_Trading

2) Futures Trading
http://en.wikipedia.org/wiki/Futures_contract
http://en.wikipedia.org/wiki/Futures_trading

3) Forex Trading
http://en.wikipedia.org/wiki/Forex
http://en.wikipedia.org/wiki/Forex_trading

There are many ways in which people trade derivatives.
The technical trading methods below lists some of the ways traders make their money.
http://en.wikipedia.org/wiki/Technical_trading

1) Japanese Candlestick Charts
http://en.wikipedia.org/wiki/Candlestick_chart

2) Pivot Point Calculations
http://en.wikipedia.org/wiki/Pivot_point_calculations

3) Parabolic SAR
http://en.wikipedia.org/wiki/Parabolic_SAR

4) Fabonacci Number
http://www.traderslog.com/fibonaccitrading.htm

Trading in essence is not entirely complex. It is as simple as buying low and selling high. Alternatively, borrowing a stock, selling high, then buying low and returning the stock.

However as time progressed and derivatives came into the picture, trading became more complicated. With more products to look at and more methods to trade and hopefully, out play the rest of the market.

There are many courses which teach trading to suppliment your income. I have been for some of them. My advice to any prospective client is to do some research on the speaker before signing up for the courses as the course fees might not be cheap. Therefore, some reviews from forums or other netizens who have been for the course would help to make an informed decision.

As I am not in a rush to decide on what I will be doing with my life, trading will be put as an idea which I might proceed to embark on at a later date.

Analysis
Pros:
Derivative trading might have a low start up capital for high gains.
Trade within the comfort of home.
Trade as and when you feel like it.

Cons:
Derivative trading has high fluctuations in prices thus a possibility to lose alot or make alot
Require intensive reading and possibly analysis.
Stress level may be high if you are risk adverse.

Sunday, March 15, 2009

Losing Out to Others...

After graduating from College at 25, I have a handful of peers who enter the workforce along with I. And after almost 3 years of employment, my peers and I have advanced almost equally in jobs within the same industry. One of my concerns was that by leaving my job, I would not be able to compete with my peers and that I would be set back due to my adventure. I gave myself 2 years to find what I was looking for. Should I fail to find what I seek, I promised myself to return to the workforce and join the rest of the people carving out the life which most people live. However, this 2 years would put me behind the rest of my friends as they would have advanced the corporate ladder without me.

After much consideration, I came to a simple conclusion...
1) I would only lose out to my peers IF I failed. Should I succeed in my endeavor, I would be much happier and contented with my life. By thinking that I would fall behind my peers, I had already believed that I would fail after my 2 years. As such, I told myself that within these 2 years, I HAD TO SUCCEED!!!

2) And even IF I did fail, I would be about 30 years old. I would enter the workforce again and 20 years later, when we all are 50, we would all still have the same things. (i.e. A home, a family, probably a car, kids, etc.) And so I thought to myself. Does this 2 years really make that much of a difference? Compared to the length of your life, 2 years should be insignificant as an investment to find out what you were born to do.

Thus, I realised. That comparing with people is never reasonable. There will always be others better and others worse. In the end, life is still life, when you/I have reached >50, I think everything will all be the same and what is important is, "Have you tried?" and "Have you lived a fulfilling life?" I want to answer a big YES to both those questions.

Tuesday, March 10, 2009

Bravery, Foolishness and Everything In-Between...

Now, I believe everyone has a choice of what they can do. However, there is a fine line between bravery and foolishness. Leaving without a job is not just for anyone. Being a prudent person, I have put down 2 criteria which one should NOT leave their jobs without knowing what they will be doing next.

1) Debt
Debt of any sorts is a liability. If you have a home loan to service, car loan, study loan, etc. I do not recommend leaving your current paying job for an unknown future. Should things turn out wrong, the bank/financial institution will come after you and you might lose your home or become bankrupt, etc. Thus, please be very careful with debt.

2) Family
Family members who need care are also another thing which should hold one back. If you have kids who need your support, elderly/ill parents who are not financially independent, or any other family matter which might require stable financial income, such as getting married, planning on starting a family, I again do not suggest leaving for the unknown.

Both these factors do not mean that I discourage those from leaving their jobs and finding their true callings. However, these 2 factors will be an obstacle which one must overcome. Be it settling the debt before venturing out, or knowing what the next step is before leaving your current job. Such things should be thought out and planned well for people who have such commitments.

As for me, I do not have any of these commitments. Thus, with minimal savings, I decided to leave for the unknown and explore the adventure of what life has in store. Slowly but surely, this journey has taken me on a trip to understanding myself and what I believe in.

Monday, March 9, 2009

Taking the step... Leaving without a job...

Ever feel bored and restless at your job?

I have... And recently, in the midst of the current Global Financial Crisis, I decided to leave my job in search of greener pastures without another job offering. Admittedly, my job was quite well paying and provided much other benefits such as medical and good annual leave. Why, then, would I decide to leave, you would wonder.

Well, if the day comes that you have to drag yourself out of bed everyday, then I believe, it is about time to leave. "But why without another job?!", you would probably ask again. My answer to this is. If you look for a job, you will only find a job. I have heard many of my friends say, "I'm only working for the money." As such, they, and even I previously, treat what we do as... Only a job. What I hope to achieve in the next few years is to find something which will enable me to make a reasonable living with reasonable effort, do it with a smile on my face and do it in my own time.

Idealistic? Maybe. But at least I'm going to try.

The rest of this blog will describe the thoughts I have pondered before leaving, the options I have considered for myself, also the possibility of success and other points I have considered.

I hope this blog and myself will serve as an inspiration to all those who are currently not enjoying their employment but do not have the confidence of taking the step and moving out of their comfort zone. And through my experiences, I hope that people will be able to realise that the only thing stopping them, are themselves.

P.S. To those who say that you do not know what you want to do for a living, and why not wait til you find out before you take the leap, my answer to that is. You have worked for sometime, and that has not given you the answers. If you look for something in the same place all the time and you cannot find what you are looking for, I think you are looking in the wrong place.

If you are an auditor who does not like long working hours and tough clients, moving to another audit firm won't help you find your calling. However, many people fear moving out of their current industry to find something which truely calls out to them. My advice is, leaving your job is not the end of the world. It depends on what you are willing to settle for. There are many jobs out there, in banks, accounting firms, restaurents, manufacturing, teaching, service, etc. It only depends on whether YOU are willing to do them.