Brink of a New Chapter

2 years ago JCprojectfreedom 0
Yesterday my 2nd boss got us into the room and talked to us individually. He started the conversation with,”As you are aware how the market is like, just to give you the heads up, I believe it is time to start spending the rest of your time to look for a job. Reach out to your mate and industry friends.”
In short, I have about 1-2 more months time to look for a new role as the company is looking at closing the Singapore office.
First I will like to list down my feelings and how I feel towards this matter. It has been 10 years. I graduated in 2007 and I still remember my first job at Jurong Shipyard with a 2nd upper honours only command S$2,500. After deducting my CPF and contribution to Chinese organisation, I was left with S$1,999. I remember vividly that I wanted higher salary and I was always complaining how much the business school students were making back then with their cushy banking jobs. My income increases over the years and I am drawing a very comfortable pay cheque. However, at the back of my mind, I always know that there is nothing known as job security or iron rice bowl.
I felt helpless when the reality set in. I was thinking of all the expenses and the liabilities. There are a lot of self-doubt, worry and concern. I have never gone without jobs since the start of my career. I understand these are unnecessary but those thoughts just creep into my mind, making me depressed for the entire evening. The only relief was when I brought my kid for a walk. I realize my family is the key reason why I need to continue to work hard. As long as I work hard in Singapore, I am sure that my family will not go hungry. I should not let my job determine who I am. I may lose my job but I still have my health, my family and friends to be thankful for.
The uncertainty and helplessness is really scary.
I remember this from the movies.
“Let me tell you something you already know. The world ain’t all sunshine and rainbows. It’s a very mean and nasty place, and I don’t care how tough you are, it will beat you to your knees and keep you there permanently if you let it. You, me, or nobody is gonna hit as hard as life. But it ain’t about how hard you hit. It’s about how hard you can get hit and keep moving forward; how much you can take and keep moving forward. That’s how winning is done! Now, if you know what you’re worth, then go out and get what you’re worth. But you gotta be willing to take the hits, and not pointing fingers saying you ain’t where you wanna be because of him, or her, or anybody. Cowards do that and that ain’t you. You’re better than that! I’m always gonna love you, no matter what. No matter what happens. You’re my son and you’re my blood. You’re the best thing in my life. But until you start believing in yourself, you ain’t gonna have a life.” 
― Sylvester StalloneRocky Balboa
 
After gathering my thoughts, I decided to actually pen down my next course of actions. 
 
Step 1 Understand Your Financial Status
I need to review my financial status. I need to look at my family cash flow statement and balance sheet. I need to understand how long my CPF and cash will last me to pay my home mortgage. Next, I need to pay down all my short term liabilities. Following that, I need to look at the expenses section, I need to cut away all unnecessary expenses and focus on necessities only. The winter is coming and I need to conserve all the cash to tide us through this storm.
 
Step 2 Uncluttered Your Stuff
I had already sold my watches and helping my wife to sell some of her bags. I got some cash back to finance my side-hustle.
 
Step 3 Update of Resume
I am sick of applying for a job. I have been bitching all my life on starting my own business. I will not apply another job but I will become a dealer. At least, I will be paid $2k for the start.

JCProjectFreedom Breakeven Dealer Remisier.JPG

 

The first table is for dealer, assuming a salary of S$2k/month. The second table is for remisier. The risk is the same. I will transit to become a remisier once I achieve a revenue of S$8-10k for three consecutive months.
Step 4 Becoming a Dealer/Remisier
I will submit my CV to the brokerage house and go for my exams. Target to get my license within 3-4 months. Meanwhile, I will do Grab/Uber, tuition, affiliate marketing and e-commerce to supplement my income.
JCProjectFreedom this-too-shall-pass.jpg