Lessons in true grit from a comeback kid aged 79

[cyclone]

Where there's a will, age does not stand in the way - that's what Ng Joo Soon has shown

Lessons in true grit from a comeback kid aged 79

by Goh Eng Yeow
FEB 19, 2017, 5:00 AM SGT

In recent years, at the many reunions I attend over the Chinese New Year festive season, I sometimes detect a stench of despair and fear marring the joyousness of the occasion which never quite goes away.

What causes the stench? Those in my age group, in their 40s and 50s, are supposed to be at the peak of their careers.

Yet I find that in such gatherings, as many as half of those present may have stopped working already. Some of them have made enough money and they stop working because they desire a slower pace of life. But there are others whose careers are suddenly cut short because their jobs have been made redundant.

Among the rest, there are some who are perpetually worried that if they should lose their job for whatever reason, they may find it difficult to get a similarly high-paying job again.

More details in http://www.straitstimes.com/singapore/sm...id-aged-79

[chialc88]

thank you cyclone.

everyone is a genius.

we simply need to do what we love, and
love what we do.

enjoy...

[opmi]

I rather not slide back to square one. It will be a long climb back, if still can.
Don't use debt. Don't do personal guarantee. Ring fence some assets.
Pass coffin money to wife or mother. Take partial cash out of portfolio or business.

And quit before you are made to quit. See below.

[specuvestor]

Killer for going back to square one is losing all the compounding effect. If wealth / achievement accumulation phase is longer ie 60 years instead of 30 then it is less damaging. Like a VB said, 80% of Buffett's wealth is from his last 30 years

My own adage instead of fish is that of Phoenix I think people has inert capacity if driven by the right field that they can excel in. Problem is usually we realised it too late or wasted that 30 years

https://www.valuebuddies.com/thread-6121...#pid104220

[edragon]

Lesson to be learnt is to use 'stop loss' strategy and remind oneself of the tortoise and rabbit race.
I have seen so many successful and rich friends in their sunrise years but a pauper in their sunset years.
It is the happy endings that counts. At the last day of your life, ends with millions (or billions) to show and with grand and great-grand sons abound.

John Maynard Keynes of "Keynesian" economics theories once said "I would rather be vaguely right than precisely wrong."

[weijian]

I don't know Mr Ng, but i would like to think that his self esteem has never been built upon the external - ie. wealth and prestige etc. Those external things come to ruin, upon external factors. True grit is from within and i guess that somehow forms part of the foundation of his self esteem.

[Temperament]

i think all business men who start from zero has true grit, come back or not.

But i suspect he had to sue friends and relatives to recover somethings which should be his, maybe because he has been just too "generous" in nature.

Sad case.