Video - Wisdom on how to live life [2]

In this video, Dr. Tommy Wong introduces and explains the concepts in his two books on "Wisdom on how to live life".

The two books can be purchased here. There is a promotion for Book 2. Book 1 has been nearly sold out.

Leaders of the Free World

Read this article.

My observation
The leaders of five countries are paid more than 10 times of the average GDP per person (i.e Kenya, Singapore, Indonesia, South Africa, Hongkong). The other countries show a ratio of less than 10 times.

Transparency and accountability

Read this article.

Major I.T. Failure

Read this article.

Marriage Humor

Humor

Booking a taxi during rainy days

Comment:
In the simulation, the sms response would definitely be fast. Getting a cab would be the hardest during the peak hours rush or when rainy spells - in those time, calls to taxi centres or via this system would still not be able to get a cab easily.


REPLY
It is difficult to get a taxi during peak hours and rainy season.
If you book through TABS, you will get a reply that you are placed on the queue. If a taxi is available you will be notified. If you do not wish to wait, you can send a SMS to be removed from the queue. Booking through TABS is easier and less hassle, even for rainy days.

At busy time, most people are willing to wait longer for a taxi to be available. It is better to wait in the TABS virtual queue, than in a real taxi queue!

Try the simulation now.

Tips on buying life insurance

1. Decide what you want, e.g. term insurance for $300,000 for 25 years
2. Get 3 quotes from the insurance companies, specifically on what you need, and make your choice
3. Compare with the benchmark for this product given in Practical Guide on Financial Planning
4. Read the FAQs in this blog
5. Do not listen to an agent who recommends another product, as the agent is likely to sell you a high cost, low yield product.
6. Never buy a product recommended by an agent where you are not able to compare with similar products

FAQ - Insurance for a child

I wish to give some tips to parents on how to save for a child's education and the type of insurance suitable for a child. Read this article.

FISCA Educational Talks

FISCA plan to organise the following educational talks:

a) Financial Planning - A Practical Guide
b) Investing in ETF, REITS and blue chip stocks
c) Consumers and the law

Each talk will be for 3 hours to be held at SMU on a Saturday. The talk will be held every 1 or 2 nonths, depending on demand. Fee is $30 (non-members) and $10 (FISCA members).

Details (including registration) will be announced at http://www.fisca.sg/.

Redeeming feature

Read this article.

Limited Pay Policy

Hi Sir,
I am a 25 years old individual contemplating on purchasing an insurance policy.
Limited pay life policy sounds attractive, in a sense, one is able to choose 5, 10, 20 or 25 years in premium payment and subsequently cover till age 65.
My financial consultant recommended me to opt for 20 years in premium payment.
However, I figured that 5 years in premium payment would make the life policy more cost effective
I was introduced to TM Legacy plus. Basic sum assured of $100,000.

Appreciate if you could advise on the
1. pros and cons of the policy
2. the no. of years i should choose for premium payment 
3. whether i should take up the policy.


James

REPLY
Please read my book, Practical Guide on Financial planning (available at www.easysearch.sg/ishop). It tells you what to look out for. Most life insurance policies, including limited payment policies, give a poor return. It is better to buy Term Insurance.

You can read my FAQ on Benefit Illustration, http://www.easysearch.sg/Admin/File.aspx?id=57

Bank interest rate

Check the interest rate on bank savings account posted in the FISCA website (http://www.fisca.sg/).

Talks on Financial Planning at Community Centers and Comapnies

I am able to give a talk on financial planning at community centers and companies. There will be a fee of $600 to provide revenue to FISCA. Details can be found here:
http://www.easysearch.sg/Admin/File.aspx?id=14

Alternatively, adults can attend the financial planning talk that will be held by FISCA monthly (see www.fisca.sg) $30 for non-members, $10 for members.

Global Navigation Satellite System

Hi Mr.Tan,

The Global Navigation Satellite System is talk of the town. If implemented, can be effective but will ultimately put more pressure on public transpo,t should drivers give up driving or leave their cars at home.


http://www.gsa.europa.eu/go/news/gnss-is-the-best-solution-for-innovative-traffic-management-initiatives-egnos-provides-increased-accuracy-and-integrity-information

LN

TABS Simulation - Tangram book prize

The following three persons have been picked as winners for the tangram book prize, given to the participations of the TABS (taxi automated booking system) simulation. Please send your name, address to kinlian@gmail.com.

Mobile: xx230083
Mobile: xx826130
Mobile: xx591102

Congratulations.

FEEDBACK FROM WINNER:
The best thing about the system is that I need not be put on hold! The most frustrating thing about being put on hold is that after x mins of listening to their music, you hear the operator's voice again telling you there's no available taxis. With sms, you get instant notification. It's ok if there aren't any cabs - I just need to know that instead of being told to wait, or waiting in vain. Having the taxi driver's contact number also helps, especially if the pick-up location is obscure, or if it suddenly rains and you need to change the pick-up point to a sheltered place. Overall, I can't wait for the system to kick off and become a real one that we all can use. Thanks for kick-starting this, KL.

FEEDBACK FROM WINNER:
Excellent, very innovative and will definitely speed up processes.
My worry is can system take the load, SMS cost?

Reply:  We have to find out in practice, if it can take the load and SMS cost. Hope to launch it in August.

At a mental hospital

Humor

FAQ - Benefit Illustration

This document explains what you have to look out for in a benefit illustration before you buy a life insurance policy.

Satellite based ERP

Read this letter.

Beyond public transport

Read this article.

FAQ - Term Insurance

Here is an updated guide on how to buy Term Insurance in Singapore.
http://www.easysearch.sg/Admin/File.aspx?id=56

Quiz 6-3

Try this Quiz and win a prize. Please send your answer by SMS to the number indicated. Do not post the answer here. Allow other readers to try their solution.

WINNER OF QUIZ 6-2
Congratulations to the winner, Ong Kok Hien (Sxxxx120J, Mobile: xxxx4151). Please send an e-mail to kinlian@gmail.com with your address for the Tangram book prize to be mailed to you. The correct answer is "Albert".

Taxi Automated Booking System (TABS) - Simulation [2]

I have developed a taxi automated booking system (TABS). It is now being runned in simulation mode. A taxi company is likely to use this system with a fleet of 600 taxis. The simulation will reflect the real life situation quite closely. The booking fee is cheaper than the normal booking service.

A customer who wish to book a taxi will send a SMS to the server. You can try this service by sending a SMS as follows:

- Starhub mobile: Send "CAB " to 82028866
- M1 and Singtel Mobile: Send "CAB pppppp " to 82028866

Note: pppppp is the postal code of your location (not required for Starhub customers).

If a taxi is available within 2 km of your location, you will receive a SMS to call the mobile phone of the taxi driver. If no taxi is available, a SMS will be sent to you, saying that you have been placed in the taxi queue.

Please join this trial. During the simulation run, you will get a simulated mobile phone number (i.e. not a real number) of the taxi.

FEEDBACK FROM USERS
Hi Mr Tan
If the passenger accidentaly left his/her valuables in the taxi, who do we call?

Reply: You can call the taxi driver as you already have his mobile phone number! You can also call the taxi compnay but it is likely to take a much longer time.

Reply: This is great! No more figuring out who is the driver of the taxi which you left the valuables in. If you lost something you can contact the taxi driver immediately.. unless you lost your handphone.



Mr TKL
I tried it. It is quite fast. When will this service start? I like to try it for real!

Reply: Tentatively, it will start from 1 August with 300 real taxis (i.e. not a simulation).

Mr Tan,
Its a great system. I have one concern though.
I may not know the postal code of the location that I am in.
If I am at Lim Chu Kang near the Police Academy, I would not know the postal code.
I am along River valley road near Delta Sports Complex.. I do not know the postal code.
Hope there is a solution to this.
Otherwise I have to ask people or remember postal codes.. other people may not give reliable information. How about bus stop numbers?

Reply: You can ask someone to tell you the postal code of the place that you are at. If they live or work there, they can tell you. It is also on their businss card.
If you have a Starhub mobilephone, you do not need to send the postal code. I am now working with M1 to offer this same facility to their customers. I am also willing to work with Singtel, if they are interseted.
Later, I will work with the apps provider to allow a request to be sent by a smart phone with GPS factility. There is no need to send the postal code.
Your suggestion of bus stop number is Excellent. I will build it into the TABS system.

Hi..
Just tried it a while ago. The SMS reply is very fast, within 30 seconds. Impressive ! It will definitely save us a lots of time comparing present way of booking via telephone. Why can't the rest of us think of this cheap, better and faster way ....

Hi
Great idea! If the taxi drivers can register directly with your company, it will bypass the booking systems of the various taxi companies, thereby lower booking fees, it has a potential good business model.


Jimmy Ng said...
Nice idea and hopefully that we don't have to face those rediculous taxi surcharges for using this sytem.
In HK, were it is a lot more crowded and has a lower taxis per capita, I get a 15-20% for calling taxi. Only thing to this is that the fare has to be above HK$50 / S$8.

Hi
I have tried it, its fantastic.

Pays of CEOs

Hi Mr. Tan,


Here's an article from BusinessWeek that you might be interested in:
http://www.businessweek.com/magazine/content/10_28/b4186014341924.htm
It speaks about the salary disparity between CEOs in Japan vs. other developed countries.
JD

Hi Mr. Tan,

What is weird about this statistic is that Japan is known to have relatively high entry and mid-level salaries. If they have a much lower high-end salaries, it means that the ratio of lowest-to-highest salary will be very low. Of course, there are many other factors to consider (low supply of manpower, high cost of living, etc.) but they apply both ways.
JD

Cloud computing and entrepreneurs

Read this article.

Are Singaporeans paying for monkeys?

Read this article.

Distance based fare

How is the new distance based fare affecting you? Join this survey.

The legacy of reputation

Read this article.

Space in MRT trains

Hi Mr. Tan
Recently there is a debate going on whether the SMRT trains in Singapore are overly crowded or not. The SMRT doesn't think very much of it as evidenced in their CEO's untactful remarks, whilst practically everyone blogging on the internet curse and swear at how bad the situation had become.

Looking at the case again, I just discovered that everything hinges on a statistic which is provided by SMRT Quote:...This averages 3.8 passengers per sq m, lower than that of major cities like London..... Unquote.

So 3.8 passengere per sq m is the agreed benchmark. I have no problem with that.  But look at the word AVERAGE. Therein lies the solution to the puzzle. It's not about the number 3.8 neither is it about the techie word  crushload. It's about AVERAGE.

AVERAGE is a very dangerous concept if not properly managed. If the annual salary of the PM is $3 million and the annual salary of the rest of the 9 ordinary workers in the PMO (PrimeMinister's Office) is $50,000 then mathematically the average annual salary of the people in the PMO is $305,000 per person? In statistical theory there are median, and mode, standard deviation, etc to refine the imperfect concept of averaging. In the real world, we also need to know more about the model used for "averaging".

How does SMRT calculate its AVERAGE crush load? Is it over time average between peak period and non peak period per station basis? How many stations are selected? Which are the stations selected for the averaging?  Are newer stations which have lower load factor bundled together for averaging?

Statistics is a powerful tool which can often lead to wrong conclusions. Sometimes it is so powerful that it can be used as a tool to make one feel complacent and look good. And those who ignore the possibly distorted conclusions might be told to make other choices because the sysem is just doing fine - on "average". 

rex

Taxi Automated Booking System (TABS) - Simulation

I have developed a taxi automated booking system (TABS). It is now being runned in simulation mode. A taxi company is likely to use this system with a fleet of 600 taxis. The simulation will reflect the real life situation quite closely. The booking fee is cheaper than the normal booking service.

A customer who wish to book a taxi will send a SMS to the server. You can try this service by sending a SMS as follows:
- Starhub mobile: Send "CAB " to 82028866
- M1 and Singtel Mobile: Send "CAB pppppp " to 82028866
Note: pppppp is the postal code of your location (not required for Starhub customers).

If a taxi is available within 2 km of your location, you will receive a SMS to call the mobile phone of the taxi driver. If no taxi is available,  a SMS will be sent to you, saying that you have been placed in the taxi queue.
Please join this trial. During the simulation run, you will get a simulated mobile phone number (i.e. not a real number) of the taxi.

PRIZE: I will be giving a Tangram book to one person, picked at random, from those who participated in the trial for each of the next three days. Good luck.

Tan Kin Lian

Invest in STI ETF

Dear Mr Tan,
I have read through some of the articles on your blog and am very impressed by your investment knowledge. I heard from my Income agent that you are very experienced with investment and gives excellent advice.

I have a savings account with Standard Chartered and would like to start investing in unit trust. From your experience, what is the difference between investing through the bank or through those brokerage firm like Phillips Securities?

Many people told me to invest in STI ETF, is it unit trust and is it a good time to invest now? How about REITS? Are these unit trusts?

Josephine

REPLY
STI ETF is for long term investment. If you invest your monthly savings, anytime is a good time. Do not try to time the market. If it better to buy through a stockbroker, rather than a bank. Philips Securities is okay. It is also all right to invest in unit trust, provided that the expense ratio is less than 1%.

Do not invest in an insurance policy as the "effect of deduction" is too high, giving you a poor return. Read my book, Practical Guide on Financial Plannng, available at www.easysearch.sg/ishop.

Talks on Financial Planning to Students

Calling teachers or student leaders. If you wish to organise a talk on financial planning for the students, read this brochure. It can make a lot of difference to the future financial well-being of the students.

Better, betterer, betterest

http://www.temasekreview.com/2010/07/03/lim-swee-say-if-youre-%e2%80%98betterer%e2%80%99-today-strive-to-be-%e2%80%98betterest%e2%80%99/

Holland vs Germany

I watched my first live World Cup match over television in 1974. It was the Finals between Holland and Germany. The star on the Holland team was Johan Cruff. Holland scored the first goal within 2 minutes. Germany was led by the legendary Franz Beckenbauer and won the Finals on 2-1.

Here is an exciting recount of this historic final. http://easyweb.easynet.co.uk/~goldkeep/Holland74/WGermany.htm

I expect to see these two teams play at the Finals of the World Cup 2010. If anyone takes and win this bet, make a donation to FISCA (http://www.fisca.sg/)

Tan Kin Lian

Developing our own talents

In 1998, France won the World Cup. The team comprised of many players from the former French colonies in Africa.

This event prompted Singapore's Prime Minister Goh Chok Tong to raise the possibility of Singapore entering the World Cup using "foreign talents". The Football Association of Singapore took up the challenge and set the target of Goal 2010 for Singapore to win the World Cup (but thge goal was later clarified as participation in the Finals). This goal was subsequently dropped as the task was deemed to be impossible.

During this period, Germany went about in its own way to develop its youth squad and soccer training program. The result can be seen in the spectacular performance of the Germany team, the product of its youth development program,  in World Cup 2010.

We can contrast the approach taken by the two countries. One decided to rely on "foreign talents". The other decided to train and develop its own people.

This is a lesson for Singapore.

Tan Kin Lian

World Cup and Management Science

Mr Tan Kin Lian.

It was an amazing game that Germany managed to beat Argentina 4 to 0. World Cup is really fascinating. However, World Cup also teaches us lessons in management. Germany has displayed discipline and teamwork in the game against Argentina.

While mega stars provide the excitement, results are delivered by discipline and teamwork.


Lothar Matthaus made an interesting comment that Michael Ballack’s absence was a blessing in disguise! He said “ …. I’m genuinely upset for Michael Ballack (injury) but his absence has helped Germany. I don’t mean that in a spiteful way, but Ballack was arguably holding up a number of players who have now blossomed. Each of them has taken on a little more responsibility and Germany is playing with far more pace. Ballack often took a lot of pace out of the game, but that wouldn’t fit the mentality of this young team. Missing out is a personal catastrophe for Michael, but it has benefited Germany.”


By the way, Germany has one of the younger squad. Lothar Matthaus made an interesting management statement that teamwork is more important than individual stars and fresh legs are what it takes to win tournament.


Cashew Nut
http://www.telegraph.co.uk/sport/football/world-cup-2010/teams/germany/7868860/Argentina-v-Germany-Lothar-Matthaus-says-Germany-are-better-without-Michael-Ballack.html

My observation
I have come comments to make about Singapore's own Goal 2010. See separate blog.

Business simulation game (BEST)

The BEST simulation game gives you the practice to submit a business plan on the pricing and market of four products in a competitive environment. The game is played over 7 days and allows you to submit your business plan for one year daily. The actual time required to be spent is 15 to 30 minutes. You can read more about how to play this game by downloading this Player Guide.

The game can be played for various types of business, e.g. insurance, banking, hotel, airline, manufacturing, retail.

If you are interested to play the game, give your particulars here. I will create a game when there is sufficient players for the industry.

If you have played before, and wish to create a game for several of our friends, send an e-mail to kinlian@gmail.com and give the e-mail address of all the players. Indicate the type of industry that you wish to compete in.

Update:
One insurance company is actively using the game to train its head office and branch managers.

A participant who register through my blog likes the game and wishes to introduce his friends to play the game. I will create a game for his group.
My friend, who is studying in university in UK is organising a game for his classmates.

Low income people and Medishield

A Shin Min journalist asked me to comment on a survey finding that many low income and elderly people do not have adequate health insurance, and that they distrust insurance agents.

My comments are:
1. The low income and elderly persons should be insured under Medishield, which is low cost and can be paid from Medisave.
2. They should be treated in subsidised B2 or C wards to avoid large medical bills.
3. They do not need to buy additional medical insurance or to have unnecessary, duplicate cover
4. The government should open a window period for the uninsured persons to be accepted into Medishield now, without the need for health declaration.

For those who distrust insurance agents due to bad personal experience, they should read my book, Practical Guide on Financial Planning to be educated about health and life insurance, or should attend the educational talk organised by FISCA.

I suggested to the Shin Ming journalist to translate topics from my book into Chinese and print it in a series in their newspaper.

Tan Kin Lian

Large medical bill

My friend's wife suffered from last stage cancer. The private specialist recommended a treatment with an estimated cost of $50,000. Eventually, the total cost increased to $200,000 and the wife passed away. Apart from losing his wife, who was in the mid 50s, he also spent a large sum of money.

I asked him if the doctor had given him an assessment of the chance of recovery after spending such a large sum. He was not well advised. He trusted the doctor to do his best, but it failed.

My observation
It is better to get a second opinion from another doctor, who is not earning the large fee from the treatment. The second specialist does not have any vested interested to recommend a costly treatment that has a low chance of success. The second opinion may cost some money, but is worth spending, to get a better decision.

Tan Kin Lian

Wisdom on how to live life (book 2) - Review

By A. J. Bray "Adrian Bray" (lowestoft, suffolk)

This book is a follow on from the author's first book 'Wisdom on How to live life: Transforming Earth into Heaven. I gave that a 5 star rating and I have done also for this Bk2 with the same title.

Over several years I have bought and read 10's of self help and psychology books in the hope that I could get to understand about how life and human interactions work; I was also interested in reading about our afterlife when we die. To be fair, several have been excellant, for example Eckhart Tolle's The Power of Now, even though it took much concentration to fully understand his message. However, I consider Author Wong's books to be much easier to comprehend and I am a changed person for having read them, such is the impact they have had on me.

I have come to the conclusion that most humans start from the wrong place because 'the world' values happiness through materialism which, in turn, demands economic growth. The first is short term, whilst the latter is not sustainable through finite resources. As this author points out we are spiritual beings and part of the divine; we manifest through the divine and shall return to the divine when we complete each incarnation. He explains reincarnation in a way that makes so much sense. All the points are made in a great conversational style between Guru Harry and Tom. Several overlap from BK1, but that only serves to reinforce the message that we are eternal beings who are interconnected with each other which means the end of competition to be replaced with co-operation, making for a fairer, more satisfying life during our time here on earth.

I consider that everthing written in these books has brought me to the end of my search for the meaning of life and death in a way that no other book(s) has and if I put its teachings into practice it will inevitably lead me to a more peaceful existence. It is my hope that after reading these two books they will do likewise for you too!

Available here.

Poor service from agent

Hi Mr Tan,
My sister-in-law recently wrote in to X to feedback and complain about one of their agents. However, the response from the company was not quite what we expected. Is there anything that you could advise us to do? Or would you be able to post our letter on your website?

COMPLAINT
1. It took X 2 weeks to give me a written reply
2. The reply has not sufficiently given us the assurance that the next agent will be any different from the one that gave us an appalling experience.
3. It still does not answer the questions posed with regard to how your agents are trained, and what kind of action you will be taking.
4. X did not take this feedback seriously and did not call to verify what happened
5. The agent did not bother to call the policyholder to apologize.
6. It seems that this sort of behaviour by the agent is encouraged by X.

Flood in Singapore

The problem
http://www.straitstimes.com/STForum/Story/STIStory_548906.html

Invest in water management to avoid flooding
http://www.straitstimes.com/STForum/Story/STIStory_548916.html

Public has role in preventing floods
http://www.straitstimes.com/STForum/OnlineStory/STIStory_548824.html

MRT service

Frequency of trains
http://www.straitstimes.com/STForum/Story/STIStory_548915.html
Removal of seats
http://www.straitstimes.com/STForum/Story/STIStory_548905.html

Promotion on sale of books

Please check the books that are on promotion here. The promotions are for a short period and may be withdrawn without notice.

Book a taxi by SMS

Do you wish to pay a lower booking fee to book a taxi? Take part in this survey.

Update
Here is the revised report based on 44 replies.

Public Transport

Read this article by Lucky Tan.

New migrants

Read this article by Seah Cheang Nee.

Cheques

Printed in Straits Times Forum page on 3 July (with some editing)

I wrote my first cheque 40 years ago. The rules were to write the amount in figures and words, to write the date and spell the name of the payee correctly. Any alteration to the cheque has to be signed. This was at a time when computers were not widely used.

This archaic rules remain the practice today. It has always been tedious to write a cheque and to avoid making any spelling or other mistake mistake. If the payor makes any small mistake, regardless of how minor or inconsequential, the bank will return the cheque for correction. The bank staff is not prepared to exercise any discretion and common sense.

Recently, I was asked my my lawyer to write a cheque in favor of "The Hongkong and Shanghai Bank account No 1234567 in the name of XYZ development company". There was insufficient space on the cheque to write the payee’s name.

Many countries have done away with cheques. My friend told me that cheques are hardly used in China.

In many countries, the payor can make a payment by a direct transfer through the internet or a bank counter. The payor only needs to write down the account number of the payee and the amount in figures (i.e. no need to be in words).

Singapore continues the archaic practice of making most payments by using cheques, instead of a simpler mode of payment. While payment can now be made through internet banking, it requires a troublesome process of registering and authenticating the recipient’s bank account and is not suitable for once-off payments.

I hope that the Monetary Authority of Singapore to take the lead in this change to introduce a simple system of direct banking transfer. It will save the tedious process of processing cheques through the banking system. The private sector cannot take the lead in making this change, as they do not have the regulatory powers.

Tan Kin Lian

Survey: Flood in Singapore

Dear Mr. Tan,
Please put this link in your blog:
http://www.surveymonkey.com/s/66SCMBR

Alex

Update
Alex gave me the results of the survey (100 respondents) as folows:

What is the reason for the flooding in Singapore
a) vegetation in culvert 11%
b) global warming 18%
c) unbridled urbanisation 63%
d) litter in drain 35%

According to the creator of this survey (not Alex), the correct answer is (d) as this is the only reason that you can blame the Singaporeans. Apparently the survey is to determine if you have the quality to be a government leader!

Relevance of Tommy Wong’s books “Wisdom on How to Live Life”

Tommy Wong uses an  amusing dialogue format, in the first part of Book 1. He shares his insights on why there are so many negative events happening in the world today leading to a life of struggle and sufferng for many.

In the second part of Book 1 and in Book 2, Tommy shares concepts which can change the world for the better leading to a life of peace, love, joy and harmony. I like his writing style as it is easy to read and clear.

For those who are interested in living a better life and in a better world, Tommy Wong’s books can be ordered here.

Tan Kin Lian

Promotion - Intelligence Quiz and Shape Quiz

Enjoy a reduced price of $6.90 (usual $7.90) when you buy Intelligence Quiz Vol 1, 2 OR 3. Get the tips on how to solve the puzzle and win the weekly Quiz prize. Available here.

Shape Quiz mini-pak -10 paks for $15.00 (UP $20). Suitable for children party and ice-breaker at workshops.

Display panels on MRT trains (2)

On 22 June, I posted a blog on the display panel in MRT trains which has not been working for more than a month. During the past few days, I saw that the display panels and the lights are working correctly. SMRT has corrected the faults. I wonder if they are monitoring my blog? Perhaps someone gave them the feedback.

Letter from the Prime Minister

Read this letter.

Speed Control

Here is an innovative way to implement speed control in Canada.

Key political risks

Read this article.

Wisdom on How to Live Life - Book Review

Book Review of "Wisdom on How to Live Life" on Amazon

5.0 out of 5 stars Best spiritual book I have ever read, June 26, 2010
By A. J. Bray "Adrian Bray" (lowestoft, suffolk)


It has been several years since I came across the concept of 'living in the now'; it appealed to me because I wanted to live a contented life and not continually worry about the future. So when I read of the book 'Wisdom on how to live life - transforming Earth into heaven' by Dr. Tommy Wong, I was hooked!


In my early days I used to attend church upto three times on a Sunday where it was drummed into me that heaven was something you went to after dying and everything would be alright once you got there. Somehow, this translated into my mind that living on the earth was, at best, extremely difficult or at worst, horrible. God was something 'out there', cut off from us. This author proposes the concept that God is really a 'Great Spirit' that is in everything in and beyond our universe, yet smaller than an atom, in fact, everything that is. He goes on to say about divine, physical and man-made laws and gives great examples of each. 'Success' in life is defined through conversations Tom has with Guru's Dick and Harry. One reflects the way things are today in modern life, whilst the other suggests a better, fairer, more satisfying way. This book is easy to read, will challenge you to think about how you are living your life. It is a life changer and one to keep. Meanwhile, I can not wait to read Bk2. In my opinion, 5 stars are not enough to rate Bk1.
 
"Wisdom on how to live life" can be purchased here.

Good value meals

Jonathan Chee contributed this writeup on good value meals available in Singapore.

Sale of my books

My books are available for sale at the following major bookstores:

1. Harris
2. MPH
3. Kinokuniya
4. Times bookstores
5. Popular

You can also buy them online at www.easysearch.sg/ishop. Click here to see the various titles.

Yield on life insurance

Some people wondered why I write about the bad points of life insurance, when I had headed a life insurance coperative for 30 years.

Life insurance can be a good financial product, if it provides protection and allows the policyholder to get a fair yield on the savings. It becomes bad only when the insurance company give a poor yield to the policyholder through high charges for commission, expenses and profit.

In my book, Practical Guide on Financial Planning, I gave a benchmark on the "effect of deduction" for various durations of the policy. If you find an insurance product with an effect of deduction that is lower than the benchmark, it is a good product. If it exceeds the benchmark, the products should be avoided.

So, what is good or bad, depends on the pricing of the product and the net yield to the policyholder. When I headed the cooperative, I made sure that the policyholder gets a good yield on their savings.

Tan Kin Lian

Success on the second attempt

Many people are afraid to try something new. They are afraid of failure. They worry too much about what could go wrong and the consequence of failure. They are not willing to try. They prefer to have someone else to take the decision and the responsibility.

Sometimes, we have to fail before we can succeed. I wish to share this story. During the early 1980s, the insurance cooperative that I headed wanted to launch a new product, life annuity. We made detailed plans, trained the managers, employees and agents and set aside an advertising budget. They was a well publicised media launch for this product. A lot of effort was put in for two months. The sale of life annuity was NIL. It was a total failure.

There were many reasons for the failure. One key reason was the unwillingness of the public to buy a product where they can lose their capital on early death.

Three years later, we relaunched the life annuity product and modified it to provide a guaranteed period of payment. The payout was lower, compared to a life annuity that does not have any guarantee. On the relaunch, it was a big success and created a dominant market share of life annuity for the cooperative for two decades.

I am convinced that if we had not tried and failed on the first attempt, we would not have got the big sucess on the relaunch. I hope that this story will encourage you to be willing to take the plunge and try something new!

Tan Kin Lian

School work and holidays

RECENT revelations by parents on how their children are being deprived by schools of their term breaks to complete projects or study for exams, or both, suggest the following:
- poor time management;
- over-zealous or too much teaching;
- not recognising the need for children to rest; and
- the belief that more is better.

The allotted curriculum time and term time should be adequate in imparting whatever knowledge students need without having to encroach on the students' holidays.
It's generally accepted that term time is sacrosanct and should not be siphoned off for non-educational purposes.

Why shouldn't the school vacation be likewise left alone for the benefit of the students?
There's much that the students can do during school holidays: reading outside school texts, travelling, playing sports, or just enjoying the respite, all of which can contribute to their learning and development.

Learning is supposed to be an enjoyable experience.To make it any less so by needless overloading and depriving our students of rest and recreation would be counter-productive.

Lee Seck Kay
http://www.straitstimes.com/STForum/OnlineStory/STIStory_547818.html

Holiday homework blues
http://www.straitstimes.com/STForum/OnlineStory/STIStory_547819.html

'School holidays are the best time for students to learn.'
http://www.straitstimes.com/STForum/Story/STIStory_547996.html

School breaks important for catch-ups
http://www.straitstimes.com/STForum/OnlineStory/STIStory_547816.html

Tuition factor
http://www.straitstimes.com/STForum/Story/STIStory_547995.html

Holiday homework
http://www.straitstimes.com/STForum/Story/STIStory_547916.html

Adopt a balanced approach
http://www.straitstimes.com/STForum/Story/STIStory_547915.html

Sustainable Cities and Transport

Singapore has just hosted the World Cities Summit. It would have been a wonderful opportunity to showcase our previously lauded world class transport system, except that it had lost is lustre in recent years due to inadequate new infrastructure to meet the large increase in population.

Like many other large cities, Singapore roads are congested with private cars and other types of traffic. We also face inadequate parking space for the private cars at the homes and workplaces. Instead of building more roads, commuter lines and parking lots, we have to find innovative ways to deal with the universal challenge of moving people to work and back home.

I suggest that new towns be developed as a large car free zone. Commuting within the town should be by public transport in the form of feeder buses, taxis, shared cars and shared bicycles. The local transport will move the people to the train station, bus interchange, town center or the fringe car parks. Private cars can be used from the fringe car parks to travel on the highways to other parts of the city that are still dependent on private transport.

The new towns should be planned with the aim of encouraging people to live, work and study in the same town and avoid the need to commute long distances. The cost of buying and selling properties should be reduced, e.g. by removing the stamp duty, to encourage people to move to a new home that is close to their place of work.

This will lead to sustainable cities and a better quality of life. Perhaps when Singapore hosts the World Cities Summit again in the future, we will have a good showcase.
 
Tan Kin Lian

Exchange traded products

An important reform under the reforms being considered in America is for certain types of derivatives to be traded on an exchange. This ensures that the contracts and prices are transparent and that the financial risks are properly accounted for.

I encourage invesrors to invest in exchange traded products, for transparency and fair pricing, and to avoid all types of structured products that are issued by financial institutions (to achieve their sales and profit targets) that are not traded on an exchange.

Read Practical Guide on Financial Planning.

Tan Kin Lian