Why did Dennis Resign from Bank 10 years ago?

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Why did Dennis Resign from Bank 10 years ago?

Postby Dennis Ng » Wed Jun 30, 2010 11:38 am

Welcome to the 133rd Issue of Weekly e-newsletter by http://www.HousingLoanSG.com. This week I like to share with you "Why did Dennis resign from bank 10 years ago?”


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Why did Dennis Resign from Bank 10 years Ago?

If you have a chance to learn from one of China's Top Entrepreneurs, would you be interested?

From 29 Jul 2010 to 1 Aug 2010, for 4 days, I'll be in China, learning from Huang Ming, 黄鸣 one of the very successful entrepreneurs in China, who will be sharing how he applied Business concepts in his business, with explanation of the Business Concepts by one of my sifus, "Lin Wei Xian".

His company website is here: http://www.himin.com/

On 28 Jun 2010, Huang Ming was in Singapore, and I listened to a 2 hour talk by him, sharing his journey.

15 years ago , he was in the Oil industry, he could have stayed on in the industry and make lots of money, but once when he went to “Tai Hu”, a scenic place in China and discovered that what was once clean waters of Tai Hu, became mulky and dirty. Disgusted, he cut short his visit to Tai Hu…

He realized that oil is a finite resource and the problem is it caused a Lot of Pollution, so he knows that if people continue to “destroy” the Earth, one day, humans might not even be able to survive. Looking at the innocent eyes of his young daughter then, he decided that in “order for our children and grand children can have Clear Blue Sky and Clean Air”, he left his Comfortable Job in the Oil Industry and went into the Solar Power industry, hoping to change people’s habits by first getting people in China to use Solar Water Heaters.

He started small from a “pasar malam” stall, then as he made money, he reinvested into his business….in the initial few years, his Main Focus was Educating the public on “why they should switch to using Solar Energy”…..it was an uphill task, people look at his company’s Solar Water Heater and don’t know what machine is it….when he had enough money, he bought a Fleet of Vans, and get all his Staff to drive to different parts of China, giving out his company’s Newsletter on Solar Power, to try to educate the public all over China…most of his competitors laughed at his “foolishness” of doing thing that make no business sense.

One of his dream then is to have a “town” fully powered by Solar Power, but it looked such a distant dream then….

Today, 15 years later, in Shandong, De Zhou, he has Built a Solar Power Town, yes, the entire town powered by Solar Power, and the “impossible”, has become Reality.

And today his company headquarters is shown in this video, in the video all the “singers” are his Management Staff, (yes, some of them are just in their twenties)

http://video.sina.com.cn/v/b/24723836-1628882801.html

Do you feel inspired by his story? By this video showing his Vast Headquarters? I am. On 28 Jun 2010, as I listened to him sharing that he “went into Solar Business” not becos he thinks he can make lots of money but he feels so strongly about his “mission” to educate more people to use Solar Power…he didn’t make his calculations before plunging into this industry.

I almost teared becos I can identify with every single word he said. In year 2000, I resigned from a comfortable job in the bank, to become a Financial Planner. Becos I want to pursue My Passion and Mission to first learn how to Manage and Grow my own money and then I will teach the Public Financial Literacy, to help the public, including you, to learn how to Manage and Grow your money so that you can reach YOUR Financial Freedom.

In early years, no one know what is Mortgage Broking. Similar to Huang Ming, I had to educate the Public what is Mortgage Broking and how Mortgage Broking firm http://www.HousingLoanSG.com can help you get the BEST deal in Housing Loans….the first few years were very hard, in year 2003, my wife and I had to stand at HDB Hub, giving out flyers to the public….with countless people saying NO to our faces…

In year 2008, I finally reached my own Financial Freedom and I know the time has come for me to Educate the Public on Financial Literacy. I launched the First Bilingual Book on Personal Finance “Mastering Your Personal Finance” in year 2009, I also started conducting seminars, including “How to Save and Accumulate One Million Dollars” (the next session is on 10 July 2010).

You can register and pay for the seminar here:

http://www.masteryourfinance.com/web/in ... &Itemid=35

With the development of China and India, the Middle Class in Singapore will find Life getting tougher 10 years from now, as "competition" means there is a Cap on how much your salary can Increase, while various Pressures will result in Cost of Living going up.

As a middle class earner, you will NOT get most of the subsidies, whether for Medical or other things, given to the Poor.

On the other hand, your income would be enough to make a Living but NOT sufficient for you to accumulate Your Retirement Funds if you don't learn How to Earn more than 3% annually on your Savings (becos inflation is 3%, any returns below 3% means you’re becoming poorer and poorer over time)....

Why S$1 million, becos with increasing Cost of Living, this might be the MINIMUM you need to achieve, to be able to Retire in Singapore.

“How to Save and Accumulate One Million Dollars”
(the next session is on 10 July 2010).

You can register and pay for the seminar here:

http://www.masteryourfinance.com/web/in ... &Itemid=35

Attending this seminar is not a COST, it is NOT a Cost becos you will learn knowledge that can help you save at least S$5,000 and at least make S$5,000 extra…

Note: above is just my personal opinion. This e-newsletter is not giving you advice.

We help consumers compare all the Housing Loan packages so as to help them get the BEST deal.


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Cheers!

Dennis Ng on behalf of
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Cheers!

Dennis Ng - When You Master Your Finances, You Master Your Destiny

Note: I'm just sharing my personal comments, not giving you investment advice nor stock investment tips.
Dennis Ng
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Re: Why did Dennis Resign from Bank 10 years ago?

Postby wemakebread » Wed Jun 30, 2010 10:03 pm

Actually I feel that this has already happened.
Just compare year 2000 and now.

Dennis Ng wrote:
With the development of China and India, the Middle Class in Singapore will find Life getting tougher 10 years from now, as "competition" means there is a Cap on how much your salary can Increase, while various Pressures will result in Cost of Living going up.

wemakebread
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Re: Why did Dennis Resign from Bank 10 years ago?

Postby Dennis Ng » Fri Jul 02, 2010 9:01 am

wemakebread wrote:Actually I feel that this has already happened.
Just compare year 2000 and now.

Dennis Ng wrote:
With the development of China and India, the Middle Class in Singapore will find Life getting tougher 10 years from now, as "competition" means there is a Cap on how much your salary can Increase, while various Pressures will result in Cost of Living going up.



yes, it already happened, but in the next 10 years, it will be worse...
Cheers!

Dennis Ng - When You Master Your Finances, You Master Your Destiny

Note: I'm just sharing my personal comments, not giving you investment advice nor stock investment tips.
Dennis Ng
Site Admin
 
Posts: 9781
Joined: Tue Nov 29, 2005 7:16 am
Location: Singapore

Re: Why did Dennis Resign from Bank 10 years ago?

Postby Dennis Ng » Wed Nov 30, 2011 12:10 am

I agree with what Steve Jobs shared. During the last 11 years of journey (after I resigned from bank in year 2000), I've been through 7 years where I was earning less than what I earned working in the bank in year 2000....what made me perservere? What made me go on without giving up? It was the Passion that I have in what I do, that I want to learn to master my own finances and when I did that, to teach others how to master their finances as well.

Cheers!

Dennis Ng

http://www.youtube.com/watch?v=KuNQgln6 ... re=related

Extract from the video:
Steve Jobs said that: You need a lot of passion for what you're doing because its so hard. Without passion, any rational person would give up.

So if youre not having fun doing it, if you dont absolutely love it, youre going to give up.

And thats what happens to most people, actually.

If you look at the ones that ended up being successful in the eyes of society, often times its the ones who love what they do, so they could persevere when it got really tough.

And the ones that didnt love it, quit. Because they're sane, right?

Who would put up with this stuff if you don't love it?

So its a lot of hard work and its a lot of worrying constantly.
If you don't love it, youre going to fail. (give up).


Dennis Ng wrote:Welcome to the 133rd Issue of Weekly e-newsletter by www.HousingLoanSG.com. This week I like to share with you "Why did Dennis resign from bank 10 years ago?”


If you have friends who like to receive this information-rich FREE Weekly E-Newsletter, ask them to go to our website http://www.HousingLoanSG.com where they can sign up immediatelyand get a FREE Special Report "How to cut your tax legally by 23% to 59%?"

Cheers!

Dennis Ng, http://www.HousingLoanSG.com - help you get BEST Deal in Housing Loans in Singapore & Australia

Why did Dennis Resign from Bank 10 years Ago?

in year 2000, I resigned from a comfortable job in the bank, to become a Financial Planner. Becos I want to pursue My Passion and Mission to first learn how to Manage and Grow my own money and then I will teach the Public Financial Literacy, to help the public, including you, to learn how to Manage and Grow your money so that you can reach YOUR Financial Freedom.

In early years, no one know what is Mortgage Broking. Similar to Huang Ming, I had to educate the Public what is Mortgage Broking and how Mortgage Broking firm www.HousingLoanSG.com can help you get the BEST deal in Housing Loans….the first few years were very hard, in year 2003, my wife and I had to stand at HDB Hub, giving out flyers to the public….with countless people saying NO to our faces…

In year 2008, I finally reached my own Financial Freedom and I know the time has come for me to Educate the Public on Financial Literacy. I launched the First Bilingual Book on Personal Finance “Mastering Your Personal Finance” in year 2009, I also started conducting seminars, including “How to Save and Accumulate One Million Dollars”

With the development of China and India, the Middle Class in Singapore will find Life getting tougher 10 years from now, as "competition" means there is a Cap on how much your salary can Increase, while various Pressures will result in Cost of Living going up.

As a middle class earner, you will NOT get most of the subsidies, whether for Medical or other things, given to the Poor.

On the other hand, your income would be enough to make a Living but NOT sufficient for you to accumulate Your Retirement Funds if you don't learn How to Earn more than 3% annually on your Savings (becos inflation is 3%, any returns below 3% means you’re becoming poorer and poorer over time)....

Why S$1 million, becos with increasing Cost of Living, this might be the MINIMUM you need to achieve, to be able to Retire in Singapore.
Cheers!

Dennis Ng - When You Master Your Finances, You Master Your Destiny

Note: I'm just sharing my personal comments, not giving you investment advice nor stock investment tips.
Dennis Ng
Site Admin
 
Posts: 9781
Joined: Tue Nov 29, 2005 7:16 am
Location: Singapore

Postby Dennis Ng » Sat Dec 24, 2011 5:07 pm

Back in 1998, I searched for and discovered my Passion and Personal Life Purpose, that I wanted to learn how to master my own finances, reach Financial Freedom, and then I would teach others how to do the same.

Looking back, I've come a long way in the last 13 years, and my Life Purpose has guided me in making major decisions in the last 13 years.

In year 2000, I resigned from bank, to do what I love. I was struggling financially, earning S$2,500 a month, income dropped from S$7,000 a month, but I was happy and feeling a sense of fulfillment doing what I love.

Today, I'm financially free, continue to do what I love and loving every minute of it.

We only have one life. There are thousands of ways to make a living, so why NOT choose to do what you're passionate about, instead of just settling for a job.

Cheers!

Dennis Ng

What should I do with my life?
From The Business Times

Most people have good instincts about their calling in life, but they make poor choices and waste years


By TEH HOOI LING
SENIOR CORRESPONDENT


I HAD dinner with a reader some months back. During dinner, I lamented how the modern economy is compensating people in the finance industry. 'Because of that, all the bright brains are flocking to the financial sector. The other more productive sectors of the economy suffer as a result,' I said.




The reader countered. 'The market has a way of adjusting itself. Back in '80s, the shipbuilding, the marine sector was very lucrative. It attracted a lot of talent. Then there was a downturn, and wages plunged. In the '90s, the semiconductor industry was the place to be. In the early 2000s, it was the information technology sector. Now we have the banking sector which is drawing in the big bucks. But already we are seeing signs that the banking sector is set to shrink in the years ahead.'

That conversation lingered in my mind. And a few days ago, a friend posted a link on Facebook to an article titled 'What should I do with my life?'. The article wasn't new. It was published in 2007 but I found it still offers a lot of good insights and it's timely that we be reminded of them.

Written by Po Bronson, and adapted from his book 'What Should I Do with My Life? The True Story of People who Answered the Ultimate Question', the article said instead of focusing on what's next, let's get back to what's first.

'People don't succeed by migrating to a 'hot' industry ... They thrive by focusing on the question of who they really are - and connecting that to work that they truly love (and, in so doing, unleashing a productive and creative power they never imagined).

'Companies don't grow because they represent a particular sector or adopt the latest management approach. They win because they engage the hearts and minds of individuals who are dedicated to answering that life question,' he wrote.

Now that we've come to the end of what has generally been regarded as a terrible year, I thought it's a good time for us to pause and reflect on who we really are, and how one goes about finding that answer.

As part of the research for his book, Mr Bronson interviewed more than 900 people 'who have dared to be honest with themselves'. Below are what he gleaned from them.

Except for a select lucky few, for most of us, our calling is not something that we inherently know. Far from it. Almost all of the people he interviewed found their calling after great difficulty.

'They had made mistakes before getting it right. For instance, the catfish farmer used to be an investment banker, the truck driver had been an entertainment lawyer, a chef had been an academic, and the police officer was a Harvard MBA. Everyone discovered latent talents that weren't in their skill sets at age 25.'

Most of us don't get epiphanies. We only get a whisper, a faint urge. That's it. It's up to us to make the discovery.

'This lesson in late, hard-fought discovery is good news. What it means is that today's confused can be tomorrow's dedicated. The current difficult climate serves as a form of reckoning. The tougher the times, the more clarity you gain about the difference between what really matters and what you only pretend to care about.'

The thing is, most people have good instincts about where they belong. But they make poor choices and waste productive years on the wrong work because of a number of basic assumptions we have about the work we are supposed to have.

'These are stumbling blocks that we need to uproot before we can find our way to where we really belong,' said Mr Bronson.

Money and meaning

One common false assumption is that I would make my money first, and when I have enough money, I'd walk away and use my savings to fund my dreams.

It turns out that people hardly walk away even after they have achieved financial independence. 'Making money is such hard work that it changes you. It requires more sacrifices than anyone expects. You become so emotionally invested in that world - and psychologically adapted to it - that you don't really want to ditch it.'

Money is not the shortest route to freedom. 'The shortest route to the good life involves building the confidence that you can live happily within your means. It's scary to imagine living on less. But embracing your dreams is surprisingly liberating. Instilled with a sense of purpose, your spending habits naturally reorganise, because you discover that you need less.'

Next, 'What am I good at?' is the wrong starting point. People who attempt to deduce an answer usually end up mistaking intensity for passion. To the heart, they are vastly different. Intensity comes across as a pale busyness, while passion is meaningful and fulfilling, said Mr Bronson. A simple test: Is your choice something that will stimulate you for a year or something that you can be passionate about for 10 years?

But stimulating work is not an end in itself. In the past decade, the working world has become a battleground for the struggle between the boring and the stimulating, he noted. We think that work should not only be challenging and meaningful, but also invigorating and entertaining.

'But really, work should be like life: sometimes fun, sometimes moving, often frustrating, and defined by meaningful events.'

Those who have found their place don't talk about how exciting and challenging and stimulating their work is. Their language invokes a different troika: meaningful, significant, fulfilling. And they rarely ever talk about work without weaving in their personal history, he said.

Place defines you

Every industry has a culture. And every culture is driven by a value system. One of the most common mistakes is not recognising how these value systems will shape you, said Mr Bronson.

'People think that they can insulate themselves, that they're different. They're not. The relevant question in looking at a job is not 'What will I do?' but 'Who will I become?' '

Once you're rooted in a particular system, it's often agonisingly difficult to unravel yourself from its values, practices, and rewards.

Ultimately, the answers to who we are, what our callings are, are very individual. On his journey, Mr Bronson met people in bureaucratic organisations and bland industries who were absolutely committed to their work. That commitment sustained them through slow stretches and setbacks. They never watched the clock, never dreaded Mondays, never worried about the years passing by. They didn't wonder where they belonged in life. They were phenomenally productive and confident in their value.

In places unusual and unexpected, they had found their calling, and those callings were as idiosyncratic as each individual.

Asking 'What should I do with my life?' is the modern, secular version of the great timeless questions about our identity, said Mr Bronson. 'Asking The Question aspires to end the conflict between who you are and what you do. Answering The Question is the way to protect yourself from being lathed into someone you're not. What is freedom for if not the chance to define for yourself who you are?'

Mr Bronson said he spent two years in the company of people who have dared to confront where they belong. They didn't always find an ultimate answer, but taking the question seriously helped get them closer.

'We are all writing the story of our own life. It's not a story of conquest. It's a story of discovery. Through trial and error, we learn what gifts we have to offer the world and are pushed to greater recognition about what we really need. The Big Bold Leap turns out to be only the first step.'


The writer is a CFA charterholder
Cheers!

Dennis Ng - When You Master Your Finances, You Master Your Destiny

Note: I'm just sharing my personal comments, not giving you investment advice nor stock investment tips.
Dennis Ng
Site Admin
 
Posts: 9781
Joined: Tue Nov 29, 2005 7:16 am
Location: Singapore


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