High on life

Richard Branson, the well-known billionaire of Virgin group, said something to the effect, "You either stick your neck out and do something and have an amazing life, or sit on the sofa and watch other people do it".

We all should reflect on this, if haven't done so already. If you are 20 years old, you'll be 30years old before you know it (in what may seem like a blink of an eye), and then 40 years old, 50 years old and so on. Every single day counts and if we aren't choosing every day to do something amazing and choosing to be high on life, we just may be full of regrets when the inevitable final day arrives.

 

Philosophy and Wealth

"Of course I do not forbid you to possess it [wealth], but I would have you reach the point at which you possess it dauntlessly; this can be accomplished only by persuading yourself that you can live happily without it as well as with it, and by regarding riches always as likely to elude you." Letters by Seneca (Stoic Master)

Recommended books on Stoicism

Perhaps you're wondering where to start. To know more about the Stoics, A Guide to the Good Life: The Art of Stoic Joy, by William B. Irvine, is a terrific introduction to the basic ideas and how they could be applied to daily life. To further your learning, read Seneca's Dialogues and Essays, Marcus Aurelius's Meditations, and Epictetus's Enchiridion.

HITTING BACK THE CURVE BALLS

We have all heard sayings like “Life will throw you a curve ball once in a while”, and, “When it rains, it pours”. 

Read the blog post Mindset for Success: HITTING BACK THE CURVE BALLS, from setyourselfuptowin.blogspot.com to find out 3 ways to stay motivated.
 

Why I like being stoic

Knowing the principles of stoicism is one thing, but it is through the opportunities presented in life where the principles learned need to be applied (practiced) that one can truly appreciate stoicism. It gives you a system if you will, of how to deal with extremely challenging, uncertain or stressful moments in your life. A fundamental principle is understanding and distinguishing what is within your control and what is not. Our emotion is an example. We can be reactive to situations or we can be rational and logical, ie the stoic way. Harder said than done, but there is a choice. After months if not years of practicing, the foundational principles of stoicism can be so deeply internalised that it is no longer consciously considered, but lived. That's my goal. The principles of stoicism has guided and helped me in various facets of my life from health and fitness, to my business and personal relationships. Adopting the stoic philosophy has really improved the quality of my life indeed!

7 things I do daily to ensure a better future for myself and my family

1. Morning routine. Start with health and set myself up to win. I have a daily goal and make sure it is part of my bigger vision.

2. Move the body. Full motion and mobility will keep you healthy and well. I do exercises that focus on alignment (balance), flexibility and strength.

3. Recharge the “battery”. I either take a 10-15min nap or do breathing meditation mid-day (usually around 2pm).

4. Invest mindfully. The definition of investment to me is allocating my resources (time, energy, money) mindfully to improve the quality of life for me and my family. For instance, I invest my money into valuable products, programs, and services that will move me forward toward one of my goals. Whether it is health related or professional growth, I ask the question "Will this investment add value to my life in a meaningful way?".

5. Grow your mind. It’s important to challenge the status quo and ask more quality questions. To seek out the answers, I read books, listen to podcasts or reach out to potential teachers/mentors.

6. Be of service to others. The simple equation is- when you add tremendous value to people’s lives, you add tremendous value and fulfillment to yours.

7. Take Action (speed of implementation). Procrastination is the enemy. It’s no surprise that high achievers are action oriented. You need to take action to bring about (manifest) what you think about.

Is your happiness cheap?

The reason why we get stressed or upset is because we try to control the things that we can't control rather than focusing on the things we can. 

Let's say your definition of 'happiness' is- you are happy when things or life events that unfold hits your expectation but unhappy when it misses your expectation. This implies that your happiness is cheap because it doesn't require much effort to be taken away from you by a life situation that's not in your control. 

You expected great service at the 5 star hotel, but received hardly any attention much less a smile- you are unhappy. You expected a nice room but not only did you get a nice room, but you got an upgrade to the presidential suite- you are happy. You expected hot water in the shower, but you get only cold- you are unhappy. Your feelings and emotions, going up and down like a yo-yo being controlled by your environment rather being guided by your ability to focus and control your mind and thoughts about it.

The comedian, Kyle Cease said- "the only way we're hurt is not that someone broke our heart but broke our expectations." Does this mean we should lower our expectations or don't have one to begin with? I know that letting go of expectations is difficult because we've been conditioned to control everything but there is also a world of possibilities when we move with the music and embrace the unknown.

The mindset of winners

When you look at the high-achievers in this world be it in sports or in business, study their mindset. Winning begins with mindset.
'I'm going to be #1...'
'I'm going there to win not just any medal, but to win a gold medal...'
'I'm going to make an indelible impact...'
'I'm going to solve a problem that can affect the quality of lives of more than a billion people...'
...and so on.
They have amazing clarity, discipline and focus. They are hungry to 'win' regardless of major setbacks, the pain of training, oppositions and against all odds. They never give up on the single thing they can fully control- their mindset. It is amazing to observe the things that our physical body is capable if our mind is fully behind it.

Below is a link of a touching story of an Olympian, that shows just how important and powerful mindset is;

Getting upset won't help things

We may like to emulate highly successful CEOs and entrepreneurs when things are collapsing before your eyes. Many of you probably know Matt Mullenweg, CEO of Automattic, and original lead developer of WordPress? According to Tim Ferris in his book Tools of Tians, Matt is 'exceptionally calm and logical under pressure.' He's the epitome of 'getting upset won't help things.' Lets put this into perspective. His company is valued at more than $1 billion, has 500 employees and multiple data-center around the world- what are the chances that someone, somewhere has messed up right now?! 100%!! Yet, he is exceptionally calm! Wow!

Quickly shift your focus on the things you have control

After listening to a highly motivated, hard-working and successful individual whom I consider to be one of my mentors- this was my take home message; Everybody will be subjected to the 'unknowns' that present itself throughout our lives. But here is the thing- we're not in control of the 'unknowns'. We're only in control of what we decide to do when the unknowns hit our lives. What action we take in these situations are what separates the good from the great! It's taking 100% responsibility for our lives. Having the mindset that, 'nobody is coming to save us' except you! That is power!

How to prepare for a bear market

Just finished listening to Tony Robbins on a podcast where he discusses how to prepare for a bear market and be unshakeable/fearless. It was a fantastic interview and a timely reminder. To put this into context, the last bear market (crash) was in 2008 and market crash happens on average every 5 years, so we're overdue for one. The question is, are you prepared both financially and mentally? From a financial strategy point of view, he advises everyone to take a percentage of their money (income) that they'll keep forever, grow and compound, and provide passive income for the rest of their life without working (trading their time). 

"You're never going to earn your way to wealth."

To be financially rich, he says that we need to be owner of businesses. We can do this through owning a index fund and being well diversified.

Mentally, we have to be prepared because we know "winter" is coming and winter is the best time on earth. It is the greatest opportunity of our lifetime to leap frog financially. The strategy is, you don't need to panic. When markets go up and down, you don't go up and down. Apply stoic philosophy here.

What is the difference between a market correction vs a crash? A correction is when it drops from the high of 10% or more up to 20%. A crash or bear market is when it drops 20% or more up to 80%. Yes! 80%, like in the great depression. 

So when the winter comes, will you be financially and mentally ready?

Mr. Money Mustache blogs about Stoicism

So here is an overview of what, Mr. Money Mustache learned from reading the book "A Guide to the Good Life, The Ancient Art of Stoic Joy";

- Stoicism is a series of mental techniques and ways of life.
- To have a good and meaningful life, overcome your insatiability.
- The practice of negative visualization technique.
- Optimize what you can control and stop worrying about the things you can't.
- Experimenting with Voluntary Discomfort/Badassity.
- Fulfilling all of our life's obligations to our best ability.
- Have rewarding social interactions to maintain balanced happiness.
- Let reason triumph over reflexive emotions.
- The difference between pleasure and happiness.

Here is the link to the full blog post titled, "What is Stoicism and How Can it Turn Your Life to Solid Gold"

A strategy as a retail investor

Note to self based on what I learned from Mr. Chua Soon Hock, an investor with remarkable consistent results;
Overcome and control basic human weaknesses (greed, fear, impatience, pride and laziness) when put to the test in an uncontrollable market. Pay detailed attention to the process of applying sound investing methods. Focus on time, size and price  management- all within our control. Shares will be at basement prices when bearish psychology is extreme and liquidity is tight. Be patient.

Strategy for retail investors by Chua Soon Hock (Asia Genesis Equity Fund);
Timing- For situations where share prices are low due to a weaker economic cycle... "based on my experience it is best to buy on the day following the national government's admission that the economy is in a recession and gives a negative GDP forecast for the rest of the year." 
For a market crash due to a special event "it is normally right to commit 50% of capital on the same day of the event and rest of the 50% within a week."

Type of shares to buy- "Buy the top two of the best-managed institutions from each of the key sectors of banking, media, telecommunications, healthcare and computer software."
My Watchlist:
Banking- DBS, OCBC
Media- SPH, MM2 Asia
Telecommunications- Singtel, Starhub
Healthcare- Raffles Medical, FIRST Reit, (Riverstone?)
Computer software- Silverlake Axis, ? 

When to take profits- "Shares bought resulting from a market crash due to special events (ie it is a one-off situation), one can take profits when profits are between 50% to 100% within a six months period. However, for shares bought as a result of an economic crisis or economic downturn one should keep them for years."

Frequency of participation in the market- "Assuming a 35-year investment life, one can expect to participate in three to four complete economic cycles, with each cycle of about eight to ten years, yielding returns of at least 200% over capital...in addition be rewarded with about five event market crashes, which should yield at least 50% for each event."

Source: SG Thumbtack Investor

How to flourish

According to the famous American psychologist Martin Seligman, in order for an individual to truly flourish, you need 5 areas fulfilled;

1. Positive emotions and pleasure (eg. material and toys). *From a stoic perspective, while you can derive pleasure from material things have the ability to abstain. Must have self-control. Another note to mention is that things that give positive emotions and pleasure for you don't necessarily have to come at a steep price like possessing a Ferrari. Pursue the things that you enjoy and care about.

Ferrari or the Lamborghini?

2. Engagement (eg. work, training).

Health Talk at the Health Promotion Board

3. Positive relationships (eg. with your spouse, best friends). *Connection, good counsel, learn and grow, encourage and inspire, fun and laughs.

With my best friend

4. Meaning (eg. a cause or a purpose, something bigger than the self) *Identify your path, be clear with your vision and stay the course.

Quite alone time to look inward, reflect and examine.

5. Accomplishment (the fruits of successful work, training). *Oh the joy of finally being able to do my first muscle up...you can see my excitement in the video attached below :)

If you lived everyday like it was your last, the chances are that you'll fill your day with the 5 areas aforementioned and care less about the things that really don't matter. This will let you fully enjoy your life and allow you to flourish. If you detracted from it today, think about what could be improved for tomorrow.

Marcus Aurelius said, "Approach each task as if it were your last, because it very well could be."

Define financially free from a stoic thinker perspective

How do I define financial freedom? If an individual has the choice at any given moment to stop working for an active income and still maintain their chosen lifestyle throughout their entire life - then he (or she) is financially free. By 'active income' I mean having to do the work themselves to produce the income. The common misconception though is that to be financially free, one must possess monumental wealth. This is not true for everybody. As long as you are in keeping with this simple formulae, whereby your recurring monthly passive income is always greater than your monthly expenses (based on your lifestyle), then you are still considered financially free. 
However, life throws curve balls at us once in a while. We've all been there. How about our car that suddenly breaks down and requires $500 in repair/replacements, or $1500 airplane ticket because of an unexpected family emergency? In this situation, you'd be out of balance if your monthly passive income is usually only slightly above your average monthly expenses.
So to refine the above definition, to be completely financially free, not only should your recurring monthly income be able to cover your expenses (based on your lifestyle) and then some, but you need to have enough cash reserves saved up for 'emergency' fund.
The ideal situation would be to be working in your current 'job' because you simply love it and not because you have to. It's a calling whereby you get abundance of joy and fulfillment from your contribution and making a difference in the world. The active income from it (if any) is simply a bi-product but not a necessity to 'make a living' from it. If one is in this position, I think this is where real creativity and productivity resides. One does not need to be distracted by thoughts of worry about how to pay their bills next month, but rather pursue excellence and fill their minds with things that they care about most. Interestingly, people in this kind of position end up with more financial abundance.

 

What stands in the way becomes the way

"The impediment to action advances action. What stands in the way becomes the way." were powerful words from Meditations, a series of personal writings by Marcus Aurelius. This is a great reminder to us that every obstacle or crisis we face in life is an opportunity to practice the virtue of excellence. The American author, Ryan Holiday calls this- Stoic Optimism. See Ryan Holiday at TedxUChicago below;

 

Why I like Gymnastics Strength Training developed by Coach Sommer

"Gymnastics Strength Training is a system of exercise which utilizes the body's own resistance to build world class levels of strength, power, agility, balance and mobility."

GymnasticBodies program is not only proven successful with elite athletes but with adult fitness populations that are beginners and wish to make a real change in their bodies. This gives you and I hope. The purpose of the program is to help you develop strong core, make you lean and evenly muscular, and have powerful mobility. Like practical Stoicism where daily consistent practice is key to your success, GymnasticBodies program requires learning through consistent work and training to see incredible gains. Most beginners can master the core curriculum in 3-4 years, and you can begin today with the 4 week GB Fundamentals Online Course to make sure you start out correctly in your Gymnastic Strength Training journey.

To learn more about the program from Coach Sommer, listen to the interview on, The Tim Ferris Show below:

 

 

We're not in control of our physical body

The stoic thinker knows that we're not in control of our physical body. We're in control of our mind but not our physical body. So the reality is, we don't have control over when sickness, disease or illness will strike and when they do- it usually catches us by unwelcome surprise. But we do have control of our perceptions and response about the thing (the health problem) that has happened. Hence the saying, "pain is inevitable; suffering is optional". 
While we don't control our physical body, we do have control over the choices we make for our health and well being. Making better choices can increase the chance of longevity and functioning well until ripe old age. The choices range from but not limited to doing regular exercise on a weekly basis, staying away from refined sugar or processed foods, to being in commune with nature frequently for good mental health. Our lifestyle habits contribute heavily on the outcome of our health now and in the future.
Today, as I normally would, began the day with 2 organic eggs for breakfast cooked with olive oil (or coconut oil) sunny side up, 1 whole imported Australian tomato, 1 spoonful of coconut oil, handful of macadamia nuts, 2 softgels of krill oil (omega-3 fatty acids), and 1 capsule of probiotic. For lunch, I visited one of my favourite cafe in Singapore, Cedele. I ate the "choose your own salad" (I went with chicken breast, quinoa, chic peas, lettuce, egg plants, sweet potato, broccoli, with olive oil and balsamic vinegar). Had a grass fed ribeye steak for dinner with broccoli and carrot on the side. For desert- Plane organic yogurt with organic raspberries and blueberries. See picture below :)

Healthy homemade desert by The Stoic Thinker

 

Good news for buyers who are looking for good-value Singapore properties

In the last few years as the Singapore property market just continued it's slow and painful grind downwards (10.8% correction over 12 quarters since the peak in 2013Q3), investors with little holding power have sold their properties with losses. Based on resale transactions of condominiums and apartments where the previous caveats can be traced, The Edge Property revealed that the proportion of unprofitable deals rose from 10% in 2015 to 17% in 2016. Defaults on residential mortgages increased from 2014 through to 2016, a trend that is likely to continue as retrenchments and vacancies increase, rentals decline and continual interest rate hikes in 2017. Furthermore, adding to the downward pressure on prices is an increase in supply in the market due to the massive ramp-up in residential developments after the last Global Financial Crisis. Based on URA data, there are approximately 44,000 units of private residential properties to be completed in the next few years.

If we are currently in the early bear stage of the property market cycle, we need to sit tight and wait for further correction. The late bear and early bull stages, will present opportunities to buy good-value properties. Patience is a virtue.

Starting 2017 with a key message underlying Stoic Philosophy

Epictetus, reminds us to have the wisdom and clarity to differentiate between what we can change and what we can't- a key message underlying practical stoicism. Spend your valuable energy and time by focusing on the parts of your day that is within your control and on things we can change, like making good reasoned choices.