Have we forgotten something??

As in the title of this blog, many of us sees money as the utmost important thing. In our pursue of greater wealth, we seem to have forgotten something in terms of our emotions.

Just ask yourself, how many times have you compared who have the most salary, most wealth, biggest house, the biggest car or the most expensive handphone...to be honest it happens all the time!! However, how many of us question 'Am I happier than my peers?'

In our blind pursue of wealth, many a times we have forgotten the meaning of happiness. A reminder to all (including myself), pursue your dreams, goal, wealth but do not forget that happiness ranks above anything else.

How much is that hons degree??

Haven been posting on this blog for quite some time now......
well basically i have been busy with my studies in uni with all the tutorials and tests....
so it sets me thinking how much is a degree worth???

Lets analyze the cost of getting a degree....

firstly lets calculate the 'accounting' cost

1) for singaporeans we are paying a tuition fee averaging $6000 per academic year.
2) in addition to tuition fee, there are those miscellaneous fees as well, lets cap it at $250 per academic year.
3) daily travelling at $50 per month for 8 months
4) daily expenses at $50 per month for 8 months

In total = $7300 per academic year for 4 years
= $29 200

Next, considering the opportunity cost

before i went into uni, i was earning an average of $1200 a month. Assuming i remain in the job for 4 years without an increment in pay = $57 600

Total cost for an engineering degree with honours = $86 800

this calculation is based on the following assumptions
1) the uni does not increase its school or misc fees
2) does not take into account the interest rates of the economy throughout the 4 years
3) negligible inflation rate
4) Transport companies does not increase the fare

Conclusion:
Based on this calculation with very glaring assumptions, the cost of an hons degree amounts to a significant sum and in reality, it is extremely likely to be even higher than the calculated value.
However, do note that even though it is pricely to obtain a degree, one without degree will lose out in the long run. We shall discuss this some other time =)

Understanding HYIP

Okay, now im already out of HYIPs. Let me provide an insight on these HYIPs. To me they are all scams. Even the 'good' HYIPs will end some day. There are no HYIP that will last forever. In all I lost US$30 on the HYIPs which is still an ok amount for me =p.

For those who are thinking of going into HYIPs, let me provide a few strategies.

1. Do not reinvest your money into the same HYIP. You do not when it will end, so put your profit elsewhere (IF you get your profit) as there are thousands and millions of HYIPs nowadays.

2. Diversification is the key. DO NOT put all your investment into one program. In this way, the probability of making a profit is higher cos if one program close down you still have money parked in other programs (unless all fails at the same time haha =p)

3. DO NOT invest what you cannot afford to lose. To me HYIP is just a game. It's like the pyramid style of MLM. Please DO NOT expect to become rich just by investing in HYIPs (or even MLM).

Sarbanes-Oxley Act 2002

After the collapse of Enron and Worldcom, US government came up with the Sarbanes-Oxley Act (SOX) in 2002. This is a set of guidelines which all US listed companies and their subsidiaries have to comply to, if not the penalty for non-compliance is a hefty fine of 5-20million US dollars and a jail term. As SOX compliance is a very complicated and tedious process, many companies have come up with training programmes to help SOX compliance teams.

My company has invited the chairman of SOX Institute in US, Mr Sanjay Anand, to fly down to Asia and personally conduct the SOX Certification Programme. It will be held in Sydney, Malaysia, Singapore and Hong Kong. Do contact me if any of you guys are interested. You can email me at weijie@fp-consultants.com or call 6298 9823 and look for WeiJie.

Hope to hear from you guys =)

End of the road for my HYIP investment??

I have put my trust in Mango HYIP but the last time it paid was 2 July. By right, Mango should be paying out everyday, so now i'm concern if it will pay today. I have quite a substantial amount in my Mango account pending withdrawal so if it closes then i'm out of HYIP.

Keeping my fingers crossed :x

The ocassional source of income

Here the ocassional source of income i'm talking about is betting. Especially to the chinese, betting has become a part of their routine. Every mondays, wednesdays, saturdays and sundays, huge crowd will form at every Singapore Pools outlet where bets for 4D are placed. Even though the odds for striking 4D is generally 1/10000, many people are still willing to put in a "bet of hope".

More recently, punters are betting on World Cup matches. Again, every match day (which is almost everyday!) scores of punters will be looking to score with their bet. They gather at Singapore Pools' outlets and will analyse the odds displayed on the 3 lcd screens hoping for a JP (JP= Jackpot means win the bet, if lose the bet punters will term it Claypot).

Betting is one of preferred past-times of Singaporean (perhaps when they strike 4D ot Toto), giving them an ocassion windfall. However, everyone out there please bet with what you can afford to lose. DO NOT let betting become an obsession.

MLM Part 2

What I like about MLM companies so far is the training that they are providing. Recently, I attended a 5 weeks training from a MLM company. They touch on subject like confidence, image management, self-discipline and motivtion. I feel that all these are very important soft-skills that one should definitely have. Therefore, please do not dismiss MLM companies the moment you heard of it. Explore what they can offer you.

With that being said, I do not agree with all the stuffs that MLM companies teach.........

Updates on HYIP - 28 June 2006

Werner Fund has paid me for yesterday and Mango has also paid me on time. My investment in One Day Gold has matured and I have requested withdrawal. It is still in pending status, so will keep my fingers cross on this :x

I reinvested into Mango HYIP. I was considering between Mango and APG. However, I think that Manga has been the more stable HYIP of the two.

I am still trying to recover back my principle investment after Dynamic Profits closed down,taking my money with it. Now i'm have a concrete plan to recover back my principle sum and I targeted that it will be achieved next week.