Advice for Graduates that cannot find Jobs - Go West

I read with concern regarding graduates not being able to find jobs. 

https://www.channelnewsasia.com/singapore/fresh-graduate-job-anxiety-search-employment-traineeship-5361196 

Reasons for prolonged job search

External factors have added to anxieties amongst the graduates – economic headwinds from increased trade tensions, the imposition of tariffs, and geopolitical conflict, and growing concerns over artificial intelligence taking over entry-level jobs. Because of these external factors, Graduates are reluctant to take a break or pursue further studies - this adds on to the problem of Graduates not being able to find jobs.

https://theindependent.sg/am-i-cooked-2024-nus-grad-remains-jobless-despite-internships-and-hundreds-of-applications/

On a more personal note, this NUS Data Science and Analytics graduate from 2024 has yet to find a job one year later. Now, Data Science and Analytics were a hot field back then, and I am very surprised by this article. He even shared that he did three internships and was not particular about starting pay. This is quite worrying, because I saw so many news articles that states the jobs with the most vacancies are software engineering, AI engineers, and data scientists. Like the article below, back in 2023, which likely motivated many youngsters to pursue a degree in this field:

https://www.straitstimes.com/business/developers-data-scientists-among-hot-jobs-of-2023

Having 2 young kids in primary school now, I worry this may be a problem they may encounter in the future.

Back in my time

Admittedly, uncle me had it easier when I graduated in the mid-2000s. The dot-com bust is a memory; I only had to do one internship, and I managed to sign a job even before I graduated. In fact, it was my one and only interview, and I got the job. Later, the company where I interned offered me a position, but I told them proudly that I already had another job! During other university holidays, I went on backpacking trips in Malaysia, self-studied on how to build websites, and did part-time work like distributing leaflets, etc. It was a fulfilling period of my life. There is NO such thing as internship stacking. 

My Advice

My advice for you is to go west - go to Silicon Valley. Apply for all the jobs you can in Silicon Valley. It could be small startups, it could be big tech. Just try.

Singapore is too small a market. You need to think bigger. As the saying goes, the world is your oyster. Why confine yourself to the Singapore market?

Did you know? The USA offers Singaporeans the H1B1 visa, which allows you to work in the US for up to one year. Thereafter, the company that employed you has to convert you to an H1B visa to continue. But no matter if they do not convert, because by then you will have gained one year of working experience in Silicon Valley. Somehow Singapore companies prize these folks with Silicon Valley experience (they call these people 'Jedis'), it will be easier for you to find a job back in Singapore. When I came back from the Valley, I got 2 job offers, and I had to decline one.

https://www.straitstimes.com/singapore/singapore-citizens-do-not-have-to-pay-us100k-for-h-1b1-visa-us-embassy

From the article:

The H-1B1 visa, meanwhile, is exclusive to Singaporeans and Chileans, who have to prove that they do not intend to migrate to the US.


It does not allow permanent residency, and the one-year visa allows professionals to work in speciality occupations, such as engineering, medicine and biotechnology.


This visa is capped at 5,400 Singaporeans and 1,400 Chileans each year.


According to information on the US Department of State’s website for the Bureau of Consular Affairs, 939 H-1B1 visas were issued to Singapore citizens in fiscal year 2024, which ended on Sept 30, 2024.


There were 944 such visas issued in FY2023, 927 in FY2022, and 489 in FY2021, with the earliest instance of the H-1B1 visa being issued in FY2004, when 46 were issued.

Do you see? 5,400 visas are available each year, but only 1,000 are taken up. Go grab it!

In the same article above, it is explained that Trump has imposed a USD 100,000 fee on H1B visas - this means companies will be more reluctant to hire those on H1B visas now and have to look elsewhere. Imagine for startups, they cannot afford this money, they will have to source elsewhere for talent, and thats why they will be interested in those on H1B1 visas.

Singaporeans have a good reputation in the valley. The kids we send to their universities work very hard, are very bright, and always top the class. You stand a good chance. But remember, you carry the Singapore flag - prove yourself to the company that hired you.

All you have to do is apply for jobs in Silicon Valley (or New York, also good), suggest to the hiring team to get the company to sponsor you for an H1B1 visa, and you can work in the US.

Further, think about it - this is the best time of your life to work overseas - you have no kids, your parents are probably still working or young seniors, they are healthy and self-sufficient. This is the best window in your life to do this. If you are married or have a partner, ask him or her to go with you.

This advice is for my kids, should they encounter similar issues when they start work.

The FIRE Movement: Igniting Your Path to Financial Independence

A comprehensive guide to Financial Independence, Retire Early.

Tired of the relentless hum of the corporate machine? Do you find yourself sketching escape routes during meetings, dreaming of a world where the alarm clock is a suggestion, not a command? Then perhaps you've stumbled upon the intoxicating idea of FIRE: Financial Independence, Retire Early. It's a whisper that’s grown into a roar, a lifestyle revolution promising freedom from the tyranny of the 9-to-5. But FIRE is more than just a catchy acronym. It's a complex tapestry woven with threads of frugality, investment savvy, and a healthy dose of existential questioning. Join me as we explore its origins, dissect its mechanics, and ponder its implications, to discover what the future holds for this ever-evolving movement.

The Genesis of a Revolution

The spark, as with most revolutions, wasn't spontaneous. Before Reddit threads and viral blog posts, there was "Your Money or Your Life," penned by Vicki Robin and Joe Dominguez in 1992. This wasn’t just about pinching pennies; it was a radical re-evaluation of our relationship with work and consumption. The core idea – that we trade precious "life energy" (our working hours) for material possessions – was a profound challenge to the consumerist culture. Dominguez himself, a veritable ascetic, retired at the ripe old age of 31 back in '69. In the early 2010s, Jacob Lund Fisker's "Early Retirement Extreme" arrived, advocating for hyper-frugality bordering on self-sufficiency. Then came Mr. Money Mustache (Peter Adeney), whose no-nonsense blog brought FIRE principles to the masses of millennials. Other key figures who played a part include J.L. Collins, Grant Sabatier and The Mad Fientist. These thinkers, along with the proliferation of blogs, podcasts, and online communities, transformed FIRE from a fringe concept into a global phenomenon. The internet, as it often does, acted as an accelerant, turning a flickering flame into a wildfire of financial awakening.

Deconstructing the Mechanics of FIRE

At its core, FIRE is about aggressively saving and investing to generate passive income, enough to cover one's living expenses, indefinitely. A deceptively simple concept, but fraught with challenges in execution. The pillars upon which this financial edifice rests are these: an extreme savings rate (often 50-75% of income), frugality on steroids and a relentless pursuit of income maximization through side hustles and career advancement. All of this, of course, is predicated on crushing debt and building a robust emergency fund – the foundation upon which all dreams of financial freedom must be built. The endgame, the Holy Grail of FIRE, is the "FIRE Number" – typically calculated as 25 times one's annual expenses. This number, derived from the infamous "4% Rule" is the amount you need invested to (theoretically) withdraw 4% annually, without depleting your principal. However, this is where the neat theory often collides with the messy realities of life.

The Spectrum of FIRE Philosophies

The beauty of FIRE lies in its adaptability. It isn't a monolithic creed, but a spectrum of philosophies, each tailored to individual circumstances and aspirations. "Lean FIRE," for instance, embraces minimalist living, drastically reducing expenses to achieve financial independence with a smaller nest egg. Conversely, "Fat FIRE" prioritizes a more comfortable lifestyle, requiring a larger portfolio to sustain higher spending. "Barista FIRE" offers a middle ground: working part-time, often for benefits, while drawing on investment income. "Coast FIRE" involves front-loading savings, then allowing investments to grow passively while pursuing a less demanding career. The FINE (Financial Independence, Next Endeavor) path emphasizes purpose-driven work over traditional retirement, seeking fulfillment in meaningful pursuits beyond mere leisure.

Navigating the Thorns: Criticisms and Challenges

However, the path to FIRE is not without its thorns. The movement faces criticism on several fronts, the most prominent being the "privilege problem." Is FIRE truly accessible to those without high incomes or pre-existing advantages? The sacrifices required for extreme frugality can also raise questions about the balance between present happiness and future security. Is it worth sacrificing joy today for a potentially uncertain tomorrow? The longevity gamble inherent in FIRE strategies is also a cause for concern. Can a portfolio truly withstand the ravages of inflation, market crashes, and unexpected healthcare costs over a 40-50 year retirement? The psychological aspects of FIRE also warrant careful consideration. The loss of structure, purpose, and social connections that often accompany traditional employment can lead to boredom, identity crises, and even social isolation. Are we, as a society, adequately prepared for a world where traditional notions of work and retirement are increasingly challenged? Let us also not forget the ethical considerations; is it morally sound to seek wealth accumulation when the broad market investments might support questionable company practices? And finally, the danger of "numbers obsession," where the pursuit of a financial goal overshadows genuine life fulfillment, is a very real concern.

The Evolving Landscape: Future of FIRE

Despite these challenges, the future of FIRE appears bright, or at least, less nine-to-five. The movement is evolving, becoming more flexible and less dogmatic. The focus is shifting from simply "retiring from something" to "retiring into something" meaningful. New strategies are emerging to address the challenges of inflation, market volatility, and rising living costs, such as diversified income streams, dynamic withdrawal rates, and geo-arbitrage. The rise of the gig economy and the increasing prioritization of work-life balance among younger generations are further fueling the FIRE movement. Financial advisors are also adapting, offering holistic planning that encompasses not only financial goals but also emotional and lifestyle considerations. The online FIRE community continues to thrive, providing a crucial source of support, shared knowledge, and collective problem-solving.

Is FIRE Right For You?

So, is FIRE right for you? It demands discipline, meticulous planning, and a willingness to challenge conventional wisdom. But whether you choose to pursue full financial independence or simply adopt some of its core principles, the FIRE movement offers a powerful framework for rethinking your relationship with money and time. It's about designing a life on your own terms, driven by your values and aspirations, rather than simply chasing a paycheck. Start tracking your spending, educate yourself about investing, and dare to imagine what financial independence could mean for your life. The path may be challenging, but the potential rewards – freedom, purpose, and a life lived on your own terms – are well worth the journey.

Blog post written with the help of Google Opal. 

Portfolio returns for Sep 202

I felt it would be good to track the returns regularly since they fluctuate frequently depending on the stock market.

Here are the movements for this month. There is an upward tick across most of my portfolios. Only Crypto has gone down a bit.

                             

For the Robo-Advisors, also an upward trend across all my portfolios. It's interesting how correlated/aligned the Stashaway General Investing and Endowus General Wealth Acc funds are. After tracking Syfe Reit+ since Jan 2024, it has finally turned positive. It was a long wait. Hope it never sees negative returns ever again.

                                            

Additionally, I think it will be interesting to see the breakdown of my portfolios in percentages (below). 

                                  

Market trends from the last 30 days:

Key Market Events

• The U.S. Federal Reserve implemented a 25 basis point rate cut, its first since 2024, prompting expectations of two more potential cuts by year-end.

• Strong earnings momentum, especially in the technology sector, has helped push indices like the S&P 500, Dow Jones, and Nasdaq to all-time highs.

• International and emerging markets generally followed the upward trend, with robust performances seen in countries like Brazil, China, and Korea, while European markets were more mixed.

September Seasonality and Volatility

• Traditionally, September is a challenging month—often referred to as the “September Effect”—with heightened volatility due to corporate profit-taking, fiscal policy deadlines, and investor caution ahead of quarterly earnings and government budget discussions.

• Despite these seasonal pressures, the recent Fed rate cut and positive economic data have helped offset negative sentiment, keeping markets buoyant.

Effects on the Stock Market

• Major U.S. indexes (S&P 500, Nasdaq, Dow) saw notable gains, with the S&P 500 up more than 1% and the Nasdaq over 2% higher in the past week alone, marking several consecutive weeks of market strength.

• Small-cap and value stocks outperformed large caps during August and September but still remain generally undervalued relative to history.

• Key market sectors driving growth included technology, communication services, and consumer discretionary, while real estate and consumer staples lagged.

• Rate cuts and muted inflation expectations contributed to a dip in U.S. Treasury yields, supporting a favorable investment outlook for equities.

On the Singapore Market

• SGX launched two new indices, iEdge Singapore Next 50 and a liquidity-weighted version, to track the next 50 largest mainboard companies after the STI.
  
  
• These indices aim to boost investor interest and market liquidity by tracking companies with a minimum $100,000 median daily traded value and $100 million market cap.
  
  
• Analysts believe new indices could foster new investment products, improve investor interest, and increase liquidity, potentially catalysing funding and IPO momentum.

How much gold to cause a plane to tilt?

Fascinating story by Ng Kok Song about shipping gold back from London to Singapore.  

Apparently there was so much gold that it caused the plane to tilt.

When I heard this, I almost choked on my water.

Because for that to happen, there must be a lot of gold.

I asked ChatGPT to estimate exactly how much for me:

I heard this story: Once we were shifting the gold back from london to singapore. Everything was laid out nicely. But then the passengers disembarked. Once they did, the plane tilted. So we had to call the passengers back to be seated so that we can first unload the gold. How much gold was there, give your best estimate

ChatGPT:

That’s a fascinating story — and it does sound like one of those aviation logistics anecdotes where weight and balance come into play. Let’s try to reason through an estimate step by step.

---

1. Aircraft balance considerations

On large passenger jets, the weight distribution is crucial. Cargo (including gold) is loaded in the hold, typically below the cabin. If the aircraft’s center of gravity shifts too far aft (tail-heavy) once passengers disembark, the nose can lift and the plane can “tail-tip.” This actually happens sometimes even without gold — e.g., if aft cargo is heavy and passengers exit before forward cargo is unloaded.

So, the gold must have been a very substantial weight, positioned aft.

---

2. Weight of passengers vs gold

• A full widebody aircraft might have ~200–300 passengers.

• Average passenger + luggage weight = ~100 kg.

• Total = maybe 20–30 tonnes for all passengers combined.

For the story to happen, the gold’s weight must be comparable to or larger than the passenger weight, because passengers had to sit down to counterbalance it.

---

3. How much gold could that be in tonnes?

• Gold is very dense: 1 m³ ≈ 19.3 tonnes.

• Central banks ship gold in 400 oz “Good Delivery” bars (~12.4 kg each).

• 1 tonne = ~80 bars.

If unloading required passengers to stay seated, I’d estimate at least 5–15 tonnes of gold, maybe more. That’s a few cubic feet at most (gold is compact).

---

4. Cross-check with historical precedent

Singapore’s gold reserves today are around 200+ tonnes (worth >US$16 billion at 2025 prices). If the story is about a reserve transfer from London, it likely wasn’t the entire stock, but a tranche. Historical records suggest shipments of tens of tonnes were typical when repatriating gold.

---

✅ Best estimate:
The shipment was likely on the order of 10–20 tonnes of gold — enough to outweigh hundreds of passengers and affect aircraft balance.

---

Would you like me to run a more detailed aircraft balance calculation (e.g., assuming a 747 or DC-10, cargo hold positions, passenger weights) to tighten the estimate further?

I followed up with:

How much is that in $

ChatGPT:

Let’s put numbers to it.

---

1. Gold price today (2025)

• As of September 2025, gold trades around USD 2,400 per troy ounce (≈ 31.1 g).

---

2. Weight conversions

• 1 tonne = 1,000 kg = 1,000,000 g.

• 1 troy ounce = 31.103 g.

• So, 1 tonne of gold ≈ 32,150 troy ounces.

---

3. Value per tonne

$$32,150 \,\text{oz} \times 2,400 \,\$/\text{oz} = 77,160,000 \,\$$$

≈ USD 77 million per tonne.

---

4. Value of 10–20 tonnes

• 10 tonnes ≈ 770 million USD.

• 20 tonnes ≈ 1.54 billion USD.

---

✅ So if the plane carried 10–20 tonnes, that shipment was worth roughly USD 0.8–1.5 billion at today’s prices.

---

If this plane got hijacked, I can't imagine what will happen 🤯

On lying flat and 内卷

There is always much to learn from SM Lee's talks. 

Here is a recent one he gave at NUS. 

While he addressed the usual questions of geopolitics and how the world stage has changed with Trump's tariffs, there was a question that stuck with me.

The question is about lying flat or tangping. 

The question came from a Chinese student at 1:00:30 mark:

"Senior Minister Lee, you've mentioned that today's youth have better conditions and should not 'lie flat' (tangping). However, in the past, life was harder, but opportunities were more abundant and competition was less intense. Now, with many industries well-established and a highly educated population, it feels like there are fewer opportunities and much stronger competition. Do you agree that today's young people face these challenges, and what can we do to address them?" 

SM Lee's reply at 1:03:15 mark:

On Competition and Opportunity

"Is life harder now than before? I think the competition is more visible. In China, they have a term for this: neijuan (内卷), meaning 'excessive intensive competition.' This is reflected in the '996' work culture and the constant demand for availability. Despite this fierce competition, opportunities are still abundant. It's a misconception that there are no new ideas to exploit. The emergence of AI is a recent example of a completely new field that has become incredibly exciting in just a few years. While you must be prepared to work hard, the opportunities are there.

Generational Differences

Comparing your generation to your parents', the level of prosperity and living conditions was much lower for them. Fewer people had the opportunity to attend university. Today, you are able to do things they couldn't have even imagined, like taking a gap year or flying off for a long weekend to Phuket or Bali. These are options your parents simply didn't have. Work-life balance is important, but with all these advantages, you should not simply relax and prosper. You have a duty to build, create, and make a difference with the opportunities you've been given."

He ended with:

Please do something. You can do it.

Call to Action

As we navigate the competitive landscape of today's world, it is essential to remember that we have the power to create change and impact. By seizing the opportunities presented to us, we can not only further our own success but also contribute to the greater good. Take action, be proactive, and make the most of the opportunities that come your way. Remember, you have the ability to make a difference – so go out there and do it!

By embracing competition and recognizing the abundance of opportunities available, we can navigate the modern landscape with confidence and purpose. Let's build a successful career, make a difference in the world, and create a future filled with endless possibilities.

Dividends for Aug 2025 - Towards 5k a month

Here are my dividends for Aug 2025:

                                    

So I collected $6,220.92 in dividends for this month. 

 
In case you are wondering, some stocks are repeated because I have 2 brokerage accounts.

Here are my monthly dividends over the last 6 years (you can see this month is my largest dividend harvest ever in a single month):

                                 

Here are the dividends I collected every year until the current day:

Already surpassed the yearly dividends from 2 years ago.

Here is the progress of my average monthly dividends over the years:

                         

The value for 2025 is just based on 8 data points though, and it may decline as we get more data points.

I plan to first receive $2500 (achieved), then finally $5000 in dividends every month on average.

Additionally, I share the interest I received from the various banks for the deposits this month:

                                        

Also, in this month, I made $84.00 from my side hustle - GrabFood delivery. 

All in, I made $7,030.10 this month from dividends, interest, and food delivery.

Onwards!   

 

Finally found an OPTIMAL way to move money from US to SG

I have a significant amount of money tied up in my Citibank USA account. 

I have always wanted to regularly transfer money back into my SGP accounts to do DCA, but it took me quite some time to find the optimal method.

Below, I describe the money transfer patterns I found and the pros and cons of each, and the last one is the one I find most optimal by far. 

At the beginning, I transferred the cash into Singapore using a traditional method:

Pros of the above method:

• No fees incurred when transferring from Citibank USA to Citibank SGP

Cons of the above method:

• USD is converted to SGD in Citibank, subject to the bank's exchange rates, which is not ideal
• SGD is further converted back to USD, again subjected to IBKR's exchange rates - better than bank, but still not ideal.

The thinking is that: wouldn't it be nice if I could get USD into my IBKR USD account directly, without having to incur the exchange rate fees? 

Enter Wise.

Pros of the above method:

• No exchange rate fees incurred, since all in USD throughout

Cons of the above method:

• Incur Citibank fee (25 USD) and Wise fee (6.11 USD + 1.13 USD)

However, since the fees are fixed, there exists an amount at which the above method is superior to the Traditional Transfer Method. 

Based on my calculations, as long as I transfer >16,000 USD, then even though I incur the Citibank and Wise fees listed above, it still makes sense because the Wise exchange rates (USD to SGD) are better than Citibank's. 

This brings about another issue: since I am doing DCA, there is a large amount of USD in my IBKR account that just sits there and does nothing.

Enter Chocolate Finance.

Instead of letting the USD sit in IBKR without earning any interest, I can move it first into Chocolate Finance USD account. Chocolate Finance USD account offers interest rates as such:

• 4.3% p.a. on first US$20k
• 4% p.a. on next US$30k
• Above US$50k target 4% (not guaranteed)

Then, when I finally need the USD to invest, I can move it into IBKR USD account anytime.

The only issue is that I have to incur Wise fees of 10.38 USD for transferring an amount of 7,500 USD from Wise into DBS MyAccount.

How long do I have to hold this amount in Chocolate Finance to make back this 10.38 USD? According to ChatGPT, it is only 12 days!

Sounds like a good deal to me. 

What do you think? Do you have a better method?