I met up with my accountant friend whom I have known during my first job 11 years ago. He is 42 years old this year and he has 3 children who are still young. His CFO needs him to do all the work. One day, he was looking through online job portal and realize that there is a job description in his company website which seems similar to his job scope. He confronted the CFO, the CFO told him it is true that they are looking for someone to replace him. True enough, within one month they found another guy and the CFO asked my friend whether he wants to resign or be terminated immediately. My friend chose to resign and serve his notice.
My friend tried to submit his CV every night, receive 4 calls from recruiters without any interview. His 3 children contribute to a fixed expense of SGD 5k/month. There are other fixed expenses as well. I thought as the children grew up, their expenses will decrease. I was wrong, I need re-do my cashflow forecast to cater for tuition fees, enrichment classes, parents and parents-in-law’s medical cost.
He explained to me that his friends who are not highly educated and more entrepreneurial are doing very well. His friends who are self employed or running their own business are doing better than those who are working for others and stuck in the mid management level.
The purpose of the meeting is to reach out and help to keep a look out for him as well. This is to capitalize on the power of network. If anyone needs book keeping services, do let me know.
On the other hand, he wants me to learn from his experience:
- I should be on the look out for other work opportunities
- I should have an alternative source of income
- There is no job security and loyalty to company will not be appreciated
- I still need to contribute at work but I should spend time out of work to build my side business/incomes.
- Take care of your health
- Take care of your family