This morning I sat outside Starbucks and I was about to start my revision on CMFAS M6A when a guy called out to me. He used to be my assistant project engineer a decade ago.
I think he is a messenger sent from God.
He told me he left the last company two years ago and has been self employed since. He has been driving Uber. It is easy to break even but to be profitable is not as easy as it seems. There is a lot of strategic planning with route, fuel efficiency and where the passengers are to increase the hit rate of getting a customer. He told me a lot of his friends who are driving Uber dropped out because there is no CPF contribution. Getting a job with CPF seems like a better choice for them. I agree that CPF contribution compounded over the long run can be an astonishing amount.
He explained further he will drive Uber in the morning till 10am, he will proceed to warehouse to pick up goods and use the rental car to make delivery. Then he will go back to rest from 2-4pm before driving the evening shift. In addition, he has an event management business. He explained that you need to have a few businesses or streams of income to see which works better. This year, he is 35 years old and he set a deadline by 38 years old he needs to make it in business, if not he will go back to get a job.
I went to the library and queue up at 10 am to enter. All the staff came out to greet us to start the day, it was a good feeling and I felt like a super star. Haha. In addition, I found a nice spot in the library with a nice view.
While studying these two days in the library, I saw a middle aged man dressed up formally using his laptop. He is actively sending his resume and apply for jobs. I was thinking does his family knows that he is out of job and he still dress like he is working and goes out everyday. Maybe tomorrow I will reach out to him and talk to him. Sometimes, he will check the status of his stock holdings. Maybe I will use that as a conversation starter.
Today I clear all the trust fund and acquire more HK shares.