update:

The trigger/inspiration — discussion with Jun.Z’s son, and other recent graduates.

In 1997 or 1998, I met an NUS EEE graduate one year above me. In his sleeveless tuxedo, he was running his own tiny company with a young employee. He had been doing that since graduation, and had never worked for any employer. In hindsight I assume he was unmarried and staying with his parents.

He was the first among my peers to make this breakaway observation:

“In this place and at this time, NUS engineering graduates like us can always find a job as long as we aren’t picky. But In this place and at this time,  we don’t really need to worry about livelihood, so why do we need a salary in the first place?”

His words were backed by his action, which left a lasting impression on me. (Among other things, I started watching my Fuller Wealth growing progressively towards 20Y, and later quit my job.)

On the bright side, my cash flow self-assurance in my 20’s was not based on exclub but based on FullerWealth, brbr, benchmark to median household income.. all valid criteria in the 2020s.

On the less-bright side, there was a pervasive [1] but largely unfounded, hearsay /apprehension/ among my cohort of recent graduates.

• mate selection .. is ALL about exclub
• home purchase .. 3BR needed, according to peer pressure .. “2BR won’t be enough for a growing family”.
• .. In Chinese cities, this pressure was/is even worse than Singapore
• parenthood .. SGD 1M/child according to peer pressure, including some $300k “needed” for college
• .. In U.S. middle-class, the college price tag is even worse than Singapore
• medical .. my mom said something like $100k (四十万)
• inflation (+retirement) .. threatened to shrink each (saved) dollar by half every 20Y or so.
• — my career worries as a young techie
• “My income is not rising as fast as my cohort” .. but based on what data?
• “My skillset is not broad enough. I’m boxed in and have a single narrow skillset compared to my cohort…” but who?
• not learning enough, not competent enough
• short runway .. by age 30 I am expected to be competent, independent, possibly a team lead
• long struggle ahead, over 40Y
• too many career choices… “Is this domain right for me? Will I regret?”

Q: how has my idea of livelihood changed since?
A: first hand experience convinced me how little I actually need in each area, in terms of livelihood. I now see those second-hand beliefs are absurd and illogical. This is MY breakaway from the conventional wisdom on livelihood. In terms of livelihood, it’s somewhat similar to that tuxedo guy’s breakaway observation.

As I told Jun.Z’s son, At that time I had basically no savings (before I started saving like crazy.)

Q: how has my livelihood (cash flow high/low ground) changed since?
A: My living standard has increased with a growing family size, but my brbr has remained healthy. Beside having a family and growing old, my #1 biggest change since 1998 is my career longevity [including a projection of lifelong cumulative salary].

You may say “Hey, you have limited evidence of your career longevity projection. Countless derailers could pop-up.” I think differently. Rather than naming some achievement, some milestone as the “#1 change since 1998”, I pick career longevity. The future is more important than the past.

[1] So widespread and profound that it was impossible to stand firm and unaffected… 三人成虎. Even today, I need to stand resolute against a similar brainwash about branded college, SDXQ, home upsizing. As discussed with Tanko, one major misstep (mis-punch on my punch card) would cost my current comfortable ezlife on my cash flow high ground.