08 December 2014
Go with the Flow
With a career that centres around logical analysis, critical induction and unparalleled insight, investment guru and founder of Hong Kong Economic Times Mr Shek Kang-chuen's take on life, however, is more than just rational planning: you also need to go with the flow.
"Try as you might, there are many things in life that simply can't be foreseen or controlled. In face of the unchangeable facts of life, one needs to learn to accommodate, and adjust one's perspectives, behaviour and attitude to go with the flow, and live a life of peace and happiness. Trying to force things to happen is never the recipe for a life of peace and happiness, regardless one is 16 years or 60 years of age," said Shek, who further elaborated with health as an example. "In the unfortunate diagnosis of cancer, some may mope and wonder aloud 'why me?', or even go as far as looking back at the past decades of unhealthy lifestyle. But that doesn't lead us anywhere! Why not face the cancer head-on, learn about the disease and relevant treatment? By no means is accepting reality a negative attitude; instead, it enables us to seek solutions with the right mindset, and steer life back on track."
Go with the Flow ≠ Say No to Planning
In response to the faulty parallel people draw between 'going with the flow' and 'not planning ahead', Shek said, "Planning is a way of having future changes within grasp, but is it even possible to control life 10 years from now? The answer is no, it's impossible! Even the most discerning person can't possibly fathom everything, because accidents are so called for obvious reasons, and the world is never free of accidents. And this is what we need to bear in mind when planning ahead."
As a veteran investment specialist, Shek has witnessed innumerable futile investment cases, and has naturally developed a mechanism for psychological balance. "Simply take a deep breath, and acknowledge the fact that you don't have control over everything in this world. It's a good idea to learn problem-solving skills from reading and learning from other people, because all these added values can better prepare you for problematic or unpredictable situations."
To explain that, Shek cited the example of his experience of running a farm: "At a meeting last year with Dr Lee Shau-kee, Chairman of Henderson Land Development Company Limited, I learnt about the 'Home Market' he has launched to offer the grassroots an access to high-quality, reasonably priced vegetables, and that has inspired me into test-farming on a piece of 200,000-square-feet land in Kwan Tei, Fanling. The land was initially cluttered with construction waste, but once I have cleared it, I filled it with soil-efficient 'planters' built with the big plastic containers normally used by vegetable vendors. Incidentally, the construction site nearby gave me some subsoil sand, and I made up for its lack of organic matter by composting fallen leaves, wood and animal manure. Understanding that the vast piece of land could consume a significant amount of water, I decided to grow vegetables that fare well in drier environments to conserve water. I was not in the position to foresee all these problems, you see, but I tried to find solutions by reading and seeking experts' advice. Just this week, the farm has produced 600 catties of vegetables to Home Market to support the impoverished communities, and another 100-strong catties donated to a charity sale by Hong Kong Kidney Foundation Limited, with the proceeds earmarked to purchase haemodialysis machines for its patients."
Retirement = Investing for a Rainy Day
Retirement is a concept that has not crossed his mind, confessed Shek, because, like his attitude towards life, he chooses to go with the flow when it comes to his career. "Retirement is really a 'departure date' stipulated by companies only, but at age 60, many of us are still fairly capable at work and can even spare effort to help other people. There are about 50 to 100 volunteers of various age ranges helping out on my farm every week, and these people pay for their transport expenses, water and tools, with the sole mission to help marginalised communities. There is no age or time constraint for helping people, really. But then, likewise, the desire to spend one's time with grandchildren or books is also entirely a personal choice."
While going with the flow is all good and wise, does it apply to investment, which is crucial to senior citizens' retirement savings? "It's unrealistic to find out how best to accumulate savings or make investments at age 55, because not even an investment amount of HKD300,000 would yield sufficient financial support for the next 20 years. Planning for retirement savings needs to start at the time you start working; if your retirement saving still ends up inadequate, then part-time work might be a solution. You can't cut corners with certain things in life, and saving for a rainy day is the good adage to go by, as proved in The Ant and the Chrysalis in Aesop's Fables."
In response to whether senior citizens should learn about investment, Shek said, "Investment can be an option if the senior citizen is so interested, but if investment is seen as a way to increase income, the best time to learn is when one still enjoys a stable income, in other words, the time when one can still afford to lose, because the nature of investment dictates that when there are gains, there are also losses. It is not unusual for people to be easily driven by monetary returns into making the wrong investment decisions; the more one looks at solely monetary returns, the easier it is for one to lose. What retirees should be learning is financial management, instead of irrational purchase of financial management products promoted by banks or financial institutions – whatever you do, make sure you have the basic knowledge of it! My advice would be to read books on financial management at libraries, which is a convenient and cost-saving way to learn about financial management – only make a book purchase if you think the book is informative enough for more in-depth reading."
When it comes to his future life, Shek, currently sought after as a columnist, opts for going with the flow. "Life is all about work and living. My plan is to continue life as usual: wake up at 6am, go to bed at 11pm, and I will work until I can't write or when my mind can't afford to anymore. Live life with peace of mind, this is a motto I hope we can all live by!"
Special Thanks:
Mr Shek Kang-chuen, co-founder, Executive Director and Head of Research of Hong Kong Economic Times
Smart Decisions
