As we get older, time seems to pass by more quickly. One of the hot discussion topics in Singapore this year is the residual value of their homes as they get older. Singaporeans are worried that their flat will decline in value and eventually become worthless at the end of their 99-year lease. 
TRAVEL: Our travels in 2018 took us to the US, UK and Japan. We received warm hospitality in every places that we visited. It was particularly thrilling to experience the sakura blossoms in spring and the bountiful apple trees of Central Pennsylvania in autumn. They are a good reminder of the seasons of life… there is a time to sow, there is a time to wait, and there is a time to reap. But nowadays, travelling for my wife and I is less of seeing new places and more of meeting people, especially to catch up with old friends and ex-students.
LEGACY: In March 2018, I attended a symposium in Orlando, US, which was held in honour of a real estate professor who is retiring. Those in academia would attribute his prolific publication record as legendary. To me, he was also a friend and a mentor. I owe him a lifetime of gratitude. Using the metaphor “dwarfs standing on the shoulder of giants”, he was the giant and I was the dwarf.
Can we top-up the number of years in our life? Just like topping up the lease by paying a premium. Better still, could we exchange the leasehold tenure for a perpetual freehold estate? But alas, our life is a leasehold. Despite modern medicine, we will die sooner or later. From an appraisal viewpoint, what would be our terminal value?
FINISH WELL: My aim is to run with endurance the race that God has set for me and to finish well. I was enlightened by the sharing of a friend and respectable professor, who is also Deputy Vice-Chancellor of a UK university: “It is in serving others that makes life worthwhile. This is my mission over the next few years.”
Below are some added wisdom from friends around the world:
*** “Valar Morghulis” and “Valar Dohaeris” are phrases from the Game of Thrones, a TV series I watched. “Valar Morghulis” says our life is a leasehold. “Valar Dohaeris” is the response phrase to “Valar Morghulis”, meaning “all men must serve”. Only death can pay for life, but the value of life lies in which we choose to serve. – Research Fellow, USA
*** It is interesting to value our life as leasehold. We do not know the leasehold tenure nor the terminal value, but we can try to maximize the value of our life by making every day wonderful, just like enjoying periodic cash flows in the DCF model. I see happiness in life from the little things, it can be some delicious food, can be the smile of our loved ones, can be the warm sunshine, and can be some peacetime at home. – Professor, China
*** You are right that life is like a leasehold. As for the question of terminal value, I think we should not only count the ‘rent’ but also the positive externality on others, like all the good things I have learnt and benefited from you. – Professor, Hong Kong
*** The lifespan account is the only account you debit continuously without knowing how much is in the account. – Professor, Germany
*** We are on the same page with committing our lives for meaningful purpose. My reference is the founder of the Scout Movement – Robert Baden-Powell. He said “Always leave this world a little better than you found it”. – Architect, Singapore
*** I lost my classmate recently and he is happily with lord now. His departure makes me value what i do , what i eat, what i experience every day as we do not know when our lease will expire. – Property Consultant, S'pore
*** A poignant reminder for all of us to remember good friends and mentors. Your reminder that that our lives is a mere leasehold and that the most important thing is to have lived a good live life and bring joy and memories to all our loved ones, is so true. As we look forward towards our remaining years, I will have to constantly remind myself that our friends and contacts are the most important thing after all. I am glad that our path have crossed in some meaningful ways I hope. – CEO, S'pore
*** As we get on with life, every passing day is a blessing and joy. It is the people like yourself who can enriches ones life experience. The built environment will always be there but not the people and yet it is the people around us that make the greatest difference. – Valuer, S'pore
*** Indeed, our life is a leasehold. And when we embrace that perspective more and more, a lot of our everyday struggles and troubles seemingly become small and fade away. We learn to appreciate the everyday things that we often take for granted - time spent with loved ones, family and friends. - MD, S'pore
*** We must build up our riches in heaven and walk the best path that we can while on this earth – Medical Doctor, S’pore
