Tag: personal coaching
Time and money often go together (courtesy of EarthWalk)
By now, you ought to know that time is the most precious resource of all.
Every one of us have only 24 hours a day, 7 days a week, and 365 days a year. This universal rule applies regardless of our station in life. How we make use of our time determines our happiness and success in life.
Courtesy of ITPRO
Why do some people perform amazingly well while others falter despite starting off at similar positions in life?
The difference, according to eminent Stanford psychologist Dr Carol Dweck, is in the mind. Or more accurately, one’s mindset.
Speaking at an episode of Knowledge for Men, Dr Dweck believed that success isn’t predicated on one’s intelligence or talent. Rather, it is embodied by how one perceives and copes with failures and setbacks. This difference accounts for why kids who are academically on par may achieve vastly different outcomes in their eventual careers.
How one views failure and success can be determined by whether one has a fixed mindset or a growth mindset.
PM Lee at National Day Rally 2014 (courtesy of Prime Minister’s Office)
Prime Minister Lee Hsien Loong’s recent National Day Rally speech got me thinking about the challenges of planning for one’s retirement. Are Singaporeans aware of how much funds they need to retire comfortably? Do they know what their true retirement living costs will be?
I like how PM illustrated the case of a fictitious 54 year old senior technician named Mr Tan, and how his estimated living costs of $2,000 per month could possibly be met. Through the example given, PM showed that a CPF Minimum Sum of $155,000 – to be adjusted to $161,000 next year – isn’t an unreasonable amount to be considered in one’s Retirement Account (RA). In fact it can only cater to a very basic lifestyle and is probably insufficient for those who retire earlier (at say 55 rather than 65 years of age).