Sunday, July 19, 2009


I got the calculation from my monthly paycheck and it’s sobering. The figures are relatively small considering the figures in my past pay slip in Singapore dollars or even Philippine pesos. The main reason is the tax rate which is about 33 %. Now I understand why a lot of people complain about taxes here. It’s a crazy figure so I have to be really careful. My main problem is the coming tuition of my kids. My plan is that the sale of my flat in Singapore will take care of their tuition for the coming years.

Hopefully I can get more income by the following ways: looking for a second job, finishing my book, my wife and kids start working on part-time jobs. Actually it’s not really severe but I guess I have to watch the pennies so to speak. Any medical expenses will also be a killer for me as well. So the key I think is any profit I would gain from the flat sale in Singapore. Otherwise the backup plan is increasing my credit card debt and student loans for the short term. But the long term solution is really to get more income.

What is great here are the opportunities available to increase one’s income. All sorts of options exist as shown in television, books and so on. So the key is really having the will and desire to succeed. It’s the so-called American way that could only be possible in this country. I don’t think anything exists like it anywhere in the world in that the returns will be much greater than any effort applied. Such opportunities do exist elsewhere but the multiplier effect I think is much greater here.

I think I should start putting myself in fighting mode again. Though the economy seems to be recovering, one can never be complacent. I guess I should start preparing myself for any eventuality by increasing my skills, increase my networking and being lean in terms of expenses and desire. But there are other opportunities that are available to the rest of my family. Giving them the confidence and helping them adapt to the American way is really the long term solution. Teaching them to fish instead of giving them fish is the slogan.

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