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Me & My Money Series (Sunday Times)
I like this guy - he seems more grounded and humble. Driving a simple Nissan even though he is much, much wealthier than last week's interviewee. His most expensive purchase is also an experience (a trip) and not an item, certainly a refreshing change from what we have read every week so far!
One thing which sounds weird though, is his $120,000 investment in Gold Bullion. His stated return is 2% per month which is 24% per annum! Certainly sounds very suspicious indeed!
The Straits Times
Oct 9, 2011
me & my money
Globetrotter lives life to the fullest
Property investments allow senior exec and bachelor to enjoy two-day work week
By Joyce Teo
From Argentina to Russia and Sudan, avid traveller Adrian Loo has seen them all. That's because the bachelor travels for up to six months in a year.
Unlike the typical executive, Mr Loo, who is director of corporate and marketing communication at Securitas Security Services (Singapore), works just two days a week.
The 49-year-old has no dependants. He switched to a shorter work week after he had a second angioplasty in 2007. He was then the chief executive of Speedy Advertising.
It is also because he can afford to. 'I am able to work two days a week and travel because of my property investments,' he says.
'My timing was right. This period (of big property gains) is gone now. I feel a bit sorry for the young ones.'
Mr Loo majored in marketing and business administration at Central London College in Britain and has an MBA from Oklahoma City University in the United States.
Q: Are you a spender or saver?
Savings can provide for my needs on rainy days, while spending fulfils my desire for a better quality of life. I would say I am more of a saver now. I tend to save at least half of my income and spend the other half on investment and living expenses. I believe that a prudent investment will yield worthy gains in years to come.
Q: How much do you charge to your credit cards every month?
I have four credit cards from various banks, which I try to use equally so as to remain an active customer.
At the height of my antique collection fever, I charged up to $20,000 a month. Now that I have already amassed quite a collection, I tend to spend a lot less.
An average month will see me charging about $3,500, sometimes more when I travel on holidays. I always pay my credit card bills in full as I spend quite a few months a year outside Singapore.
Q: What financial planning have you done for yourself?
I have life and investment insurance policies, amounting to some $500,000.
Most of my financial investments were made in the past few years when my personal bankers recommended and structured some investment instruments to suit my moderate risk appetite.
Most of my monies are kept in fixed deposits. I have bought and sold properties in the last 15 years, and have reaped handsome returns of between 30 per cent and more than 200 per cent.
When I bought my first few properties, I just wanted to plant my extra cash on something liquid, never realising that they would ultimately become my best investments. From one property, I moved on to the next, each with an incremental gain.
In 2007, I invested $100,000 in French wines, through a Singapore wine investment company, which has proven to be a headache.
The wine has not really appreciated in value while the euro (the currency in which the wine was bought) has depreciated sharply. This is a double whammy.
My latest investment in gold bullion has, on the other hand, given me plenty to smile about. I have put about $120,000 into them and they are giving me a monthly yield of 2 per cent.
Q: Money-wise, what were your growing-up years like?
I was the middle child in a big family of seven children, but was brought up in a comfortable environment.
My father, a civil engineer and one-time developer, was always abroad throughout my growing-up years but indulged me whenever he was home. I was his 'personal assistant', responsible for his correspondence.
My mother died of kidney failure just before I left for London to pursue my business studies, and as I was representing my family's hopes, I was determined to make good in life. I travelled extensively in Europe and the US before returning home to build my career.
Money is important but I also constantly tell myself that it is not the ultimate.
We come into this world with nothing, and we will leave it with nothing too. With this in mind, I live life as though today is the last day on earth, but I also prepare for my life as though I will live eternally. In short, I ensure that I am always well provided for.
I have witnessed the untimely deaths of close friends, which made me realise that I must not take things for granted.
So this year, I drew up my will and bought a niche for my ashes at a temple - a taboo for me only a few years back.
I view life differently today, and will go all out to help others make a difference in their lives. Throughout my life, I have had the good fortune of meeting people who helped me progress and prosper and now is as good a time as any to 'pay back'.
I realise that investments go beyond monetary terms. For me, my education was my first big investment for my future. From a young age, I knew I wanted to see the world and decided that I must excel in my academic pursuits to be able to realise this dream.
Without an education, I would not have been able to embark on my other subsequent investments in real estate, stocks, unit trusts, wine, gold and antiques, among others.
Q: How did you get interested in investing?
A banker once told me: 'You must make your money work harder for you. Don't just let it sit in the bank. You have done economics, what's your MBA for?'
For a start, I tried out with a few cautious financial instruments and when the returns justified my initial outlay, I did not look back.
Q: What property do you own?
I own two fully paid-up private properties. The first is a 1,100 sq m unit at Landmark Tower Condominium in Chin Swee Road, which I bought for $618,000 in 1996.
The second is a 1,200 sq m unit at Parkview Apartment Condominium in Bukit Batok, which I bought in 2007 for $620,000.
Q: What's the most extravagant thing you have bought?
Last year, I bought myself a two-month holiday in South America for close to $20,000, as I have always wanted to see Machu Picchu in Peru. I managed to get an American friend to join me on this trip and we toured Brazil, Argentina, Uruguay, Chile, Peru, Colombia and Panama.
My other extravagant indulgence is my Ching Dynasty Chinese porcelain antique collection. I have spent more than $80,000 on them.
Q: What is your retirement plan?
Having worked really hard in my younger days, I am taking stock of my life and treating myself to a little luxury when I can afford it now.
I started my semi-retirement mode a few years back after I discovered I have blocked arteries and could not continue to push myself as I did before. I did not want to retire fully as I can still contribute to society.
Q: Home is now...
I live alone in Landmark Tower condominium.
Q: I drive...
A white 1,600cc Nissan Sunny.
joyceteo@sph.com.sg
-------------------------------------------
WORST AND BEST BETS
Q: What has been your worst investment to date?
It was my investment of $200,000 in trying to help a young man turn around his family's business.
That was in 2007. He was my real estate agent. I had just sold my Pearl Bank Apartments unit and was in the midst of buying Parkview Apartments.
He represented the sellers. I was cash rich then and he managed to convince me to part with my new wealth for a venture that spelt 'doom' from the start. Instead of using the money to save the family's business, he gambled it away.
This is life - you sometimes commit stupid mistakes. But life presses on.
Q: And your best?
Apart from my education in the United Kingdom and the United States, it would have to be the 1,800 sq ft Pearl Bank unit. I bought it in 1992 for about $315,000 and sold it for nearly $1.3 million in 2007.
One thing which sounds weird though, is his $120,000 investment in Gold Bullion. His stated return is 2% per month which is 24% per annum! Certainly sounds very suspicious indeed!
The Straits Times
Oct 9, 2011
me & my money
Globetrotter lives life to the fullest
Property investments allow senior exec and bachelor to enjoy two-day work week
By Joyce Teo
From Argentina to Russia and Sudan, avid traveller Adrian Loo has seen them all. That's because the bachelor travels for up to six months in a year.
Unlike the typical executive, Mr Loo, who is director of corporate and marketing communication at Securitas Security Services (Singapore), works just two days a week.
The 49-year-old has no dependants. He switched to a shorter work week after he had a second angioplasty in 2007. He was then the chief executive of Speedy Advertising.
It is also because he can afford to. 'I am able to work two days a week and travel because of my property investments,' he says.
'My timing was right. This period (of big property gains) is gone now. I feel a bit sorry for the young ones.'
Mr Loo majored in marketing and business administration at Central London College in Britain and has an MBA from Oklahoma City University in the United States.
Q: Are you a spender or saver?
Savings can provide for my needs on rainy days, while spending fulfils my desire for a better quality of life. I would say I am more of a saver now. I tend to save at least half of my income and spend the other half on investment and living expenses. I believe that a prudent investment will yield worthy gains in years to come.
Q: How much do you charge to your credit cards every month?
I have four credit cards from various banks, which I try to use equally so as to remain an active customer.
At the height of my antique collection fever, I charged up to $20,000 a month. Now that I have already amassed quite a collection, I tend to spend a lot less.
An average month will see me charging about $3,500, sometimes more when I travel on holidays. I always pay my credit card bills in full as I spend quite a few months a year outside Singapore.
Q: What financial planning have you done for yourself?
I have life and investment insurance policies, amounting to some $500,000.
Most of my financial investments were made in the past few years when my personal bankers recommended and structured some investment instruments to suit my moderate risk appetite.
Most of my monies are kept in fixed deposits. I have bought and sold properties in the last 15 years, and have reaped handsome returns of between 30 per cent and more than 200 per cent.
When I bought my first few properties, I just wanted to plant my extra cash on something liquid, never realising that they would ultimately become my best investments. From one property, I moved on to the next, each with an incremental gain.
In 2007, I invested $100,000 in French wines, through a Singapore wine investment company, which has proven to be a headache.
The wine has not really appreciated in value while the euro (the currency in which the wine was bought) has depreciated sharply. This is a double whammy.
My latest investment in gold bullion has, on the other hand, given me plenty to smile about. I have put about $120,000 into them and they are giving me a monthly yield of 2 per cent.
Q: Money-wise, what were your growing-up years like?
I was the middle child in a big family of seven children, but was brought up in a comfortable environment.
My father, a civil engineer and one-time developer, was always abroad throughout my growing-up years but indulged me whenever he was home. I was his 'personal assistant', responsible for his correspondence.
My mother died of kidney failure just before I left for London to pursue my business studies, and as I was representing my family's hopes, I was determined to make good in life. I travelled extensively in Europe and the US before returning home to build my career.
Money is important but I also constantly tell myself that it is not the ultimate.
We come into this world with nothing, and we will leave it with nothing too. With this in mind, I live life as though today is the last day on earth, but I also prepare for my life as though I will live eternally. In short, I ensure that I am always well provided for.
I have witnessed the untimely deaths of close friends, which made me realise that I must not take things for granted.
So this year, I drew up my will and bought a niche for my ashes at a temple - a taboo for me only a few years back.
I view life differently today, and will go all out to help others make a difference in their lives. Throughout my life, I have had the good fortune of meeting people who helped me progress and prosper and now is as good a time as any to 'pay back'.
I realise that investments go beyond monetary terms. For me, my education was my first big investment for my future. From a young age, I knew I wanted to see the world and decided that I must excel in my academic pursuits to be able to realise this dream.
Without an education, I would not have been able to embark on my other subsequent investments in real estate, stocks, unit trusts, wine, gold and antiques, among others.
Q: How did you get interested in investing?
A banker once told me: 'You must make your money work harder for you. Don't just let it sit in the bank. You have done economics, what's your MBA for?'
For a start, I tried out with a few cautious financial instruments and when the returns justified my initial outlay, I did not look back.
Q: What property do you own?
I own two fully paid-up private properties. The first is a 1,100 sq m unit at Landmark Tower Condominium in Chin Swee Road, which I bought for $618,000 in 1996.
The second is a 1,200 sq m unit at Parkview Apartment Condominium in Bukit Batok, which I bought in 2007 for $620,000.
Q: What's the most extravagant thing you have bought?
Last year, I bought myself a two-month holiday in South America for close to $20,000, as I have always wanted to see Machu Picchu in Peru. I managed to get an American friend to join me on this trip and we toured Brazil, Argentina, Uruguay, Chile, Peru, Colombia and Panama.
My other extravagant indulgence is my Ching Dynasty Chinese porcelain antique collection. I have spent more than $80,000 on them.
Q: What is your retirement plan?
Having worked really hard in my younger days, I am taking stock of my life and treating myself to a little luxury when I can afford it now.
I started my semi-retirement mode a few years back after I discovered I have blocked arteries and could not continue to push myself as I did before. I did not want to retire fully as I can still contribute to society.
Q: Home is now...
I live alone in Landmark Tower condominium.
Q: I drive...
A white 1,600cc Nissan Sunny.
joyceteo@sph.com.sg
-------------------------------------------
WORST AND BEST BETS
Q: What has been your worst investment to date?
It was my investment of $200,000 in trying to help a young man turn around his family's business.
That was in 2007. He was my real estate agent. I had just sold my Pearl Bank Apartments unit and was in the midst of buying Parkview Apartments.
He represented the sellers. I was cash rich then and he managed to convince me to part with my new wealth for a venture that spelt 'doom' from the start. Instead of using the money to save the family's business, he gambled it away.
This is life - you sometimes commit stupid mistakes. But life presses on.
Q: And your best?
Apart from my education in the United Kingdom and the United States, it would have to be the 1,800 sq ft Pearl Bank unit. I bought it in 1992 for about $315,000 and sold it for nearly $1.3 million in 2007.
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