In the News:
Trump ended the G20 meeting by visiting North Korea and becoming the only sitting US President to visit the DMZ. I am no political scientist, but why, why, why? Is this some deranged desire for yet another high-profile, history-making photo op, or is there some method beneath the madness? Jokes abound online about Trump's ill-fitting trousers - neither being a billionaire nor being a president nor having an ex-model for a wife serves as any assurance against fashion disaster.
In my Life:
What would you do with yourself if you were guaranteed basic income?
Ideas are emerging about paying universal basic income to all citizens as compensation for loss of employment arising from Robots and Artificial Intelligence. In a similar but much more pragmatic vein, the recent conversation of billionaires and civic-minded heiresses have taken a slant towards socialism.
If the Gini Coefficient were to be lowered drastically, guaranteeing each human being subsistence, what would we all do with the spare time? Or to frame the question differently, what would we do with our time and talent if we can survive even if we do not take on paid work?
My dream job would be to work in a plastic surgeon's office as a marketing executive. I would spend my days introducing all types of treatments to clients and explaining the pros and cons of each. Or I would work as a professional counselor and hear people's problems as part of my work. I like to be a witness to drama, especially more when it is real and riveting.
What if I swing the question to the other end of the spectrum?
What if, instead of being guaranteed a universal basic income, we are given access to an awe-inspiring amount of money? That kind of money that can enable us to jet-set and play all day long?
I do not know how mindsets change when we come into money; I have never been there before. It is said that money does not change us; it merely reveals our true colors. Lottery winners often end up broke again, because the act of lottery buying signals a flightiness of character that goes hand in hand with easy-come-easy-go windfall. The introspective and methodical character of giants like Warren Buffet is how they create their fortunes and most importantly, keep them.
Ten years ago, I would have wished to live like her. This is indeed one way to live if you are rich. How would you conduct your life if you had serious money?
How we make and spend our money reveals almost all there is to know about us
Let me describe using true characters that have come (and some have gone) from my life:
1) Miss A - was forced by family's economic circumstance to shorten her studies by going the Polytechnic route instead of University, despite doing well enough to qualify for A-levels studies. As she took on a typical job in an institution that paid salaries capped at educational levels instead of a job with a pay structure that correlates more closely to personal contribution (eg sales), her lifelong earning capability is permanently impacted. She spends the rest of her life taking on external tertiary studies, earning one degree/ masters after another. Her obsession with higher education took a toll on her finances but she justified it by saying that she is retrench-proofing herself. Is she trying to make up for her lost dreams; isn't there an element of overcompensation in her behavior?
2) Miss B - married a husband with unstable income and ended up in a predicament where she is subsidizing her household more than she should. She deflects the pain by focusing on her child, consoling herself that without this husband she would not have this lovely addition to her life. Isn't she the classic case of the overly virtuous wife/mother who gives more than she should out of tender love, ignoring how she would be financially disadvantaged later in life if she continues to hold up more than her fair share?
3) Miss C - holds a relatively well-regarded degree from a local big-3 university, yet shunned the typical career path. Waking up in the morning like everyone else and being strapped to the office distressed her, hence she took on a high-risk sales job. After burn-out, she left that industry and chose to spend her days in low-end assignments such as part-time retail shop assistants. Was not above gambling in casinos or punting on the stock market during her sales job heyday. Does not care about the socio-economic perception of either her prior job or her current jobs. Indifferent to what people think or say. Does not spend any time imagining what others may think or say about her.
I find traces of my old self in Miss A - that love of "face", that strong desire for others to acknowledge my credentials and validate my talents. Miss C's attitude is what I wish to model myself on - that presence of mind and preternatural self-confidence that is revealed on the outside from the inside. (In fact, some people achieve the degree of Miss C's defiance/deviance only after they imbibe alcohol, but that is a story for another day.) As I grow older, I find myself evolving in Miss C's direction. I guess most of us do.
Daily Spending
- $0 - brought food from home
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