Debts and Loans for 2009

With the year 2009 coming to an end, I have already done a brief review of my stock portfolio and insurance portfolio. You can view them by clicking here and here.

As I enter into the year 2010, my debts/loans are only from my house and my car.

My outstanding mortgage loan (@2.6% interest rate) currently stands at $246,478.64

Car loan should be around $25000

What are your outstanding loans as you enter into the year 2010?
Do you plan to decrease it or are you okay with such debts?

Insurance Portfolio for 2009

After reviewing my stock portfolio for 2009, it is only right that I also review my current insurance portfolio and the changes that I have made for me and my family.


Currently there are 3 members in my family. We are covered under the following insurance plans:

Myself
1. Aviva MyShield Plan 1 (Covers hospitalisation)
2. SAF Group Term Insurance ($100K)
3, AXA Future Protector ($200K)
4. AIA Achiever ($100K)
5. Manulink Flexi ($200K)
6. TM Asia Whole Life ($160K)
7. Dependent Protection Scheme ($46K)

My Wife
1. Aviva MyShield Plan 1
1. SAF Group Term ($100K)
2. AXA Future Protector ($200K)

My Kid
1. Aviva MyShield Plan 2
2. Manulink Flexi ($100K)

I figured that this is the best that I can afford for insurance for 2009. I have covered myself for close to $800k while my wife is covered for $300K). My son is covered by a hospitalisation plan as well as an ILP which serves for both protection and as a savings for his education.

If possible, I would like to increase my wife's coverage as well as my son's coverage. But all these will have to wait till I get a higher pay =)

How much are you insured for?

Brian Tracy - 10 Goal Method

A video on goal setting. Do watch and let me konw how useful you find it =)

Stock Portfolio Review for 2009

With the year 2009 coming to an end, I am doing a review of my existing stock portfolio. This will serve as an online record for me too.

These are the following stocks in my current portfolio.

1. 12,000 x Ascott REIT
2. 7000 x China Aviation Oil
3. 17,000 x First REIT
4. 15,000 x Innotek
5. 35,000 x Kingboard
6. 6,000 x NOL
7, 37,000 x Pac Andes
8. 1,000 x Suntec REIT
9. 11,000 x Unifood
10. 1,500 x Citigroup



Innotek was bought sometime in year 2008 for dividends. The stock price fell terribly and I am still sitting on a paper loss.


Kingboard was bought because I thought there was some potential in it. Still holding on to it.


NOL was meant to be a short term trading position which ended up as long term position because the price fell and I refused to cut loss. Lesson learnt and my money is stuck in this ship once again. I have profited twice (I think) from previous trades.


Pac Andes was a buy because I thought the fundamentals were good. I am not too sure about it now and I think I would sell once the price is right.


Suntec REIT was bought for the dividends. I used to own 11,000 but then sold the 10 lots to take up a short term position in NOL which I now regret the price of Suntec REIT has risen while NOL has tanked.


Unifood was a stock bought during my university days. Stupid mistake.


I realised that I am not really a long term holder as I thought I was. Apart from Unifood, I think I have held the stocks for all less than 5 years. I sold away all my Hongguo as I had made a decent profit in it already this year during the recovery.


2010 will be focused on stocks that have good potential. As I believe that the stock market might tank again soon, I will liquidate my stocks when I get the chance to.

CPF Scam?

A recent report on the straits times that details how consumers should be warned against this kind of CPF Scam. I guess in this case, both CPF fund members and the financial advisers are in collusion to get some cash back from the CPF money which they cannot touch. It is pretty similar to those of the HDB cash back practice amongst real estate agents that was rampant over the past few years.

CENTRAL Provident Fund members have been warned they face fines of up to $10,000 if they take part in a scam that has just come to light.

The CPF Board issued the stern warning after a report in The Straits Times on Thursday exposing a practice adopted by unscrupulous financial advisers who plunder members' CPF investment funds.

Some CPF members who are desperate for fast cash have agreed to take part in the scam, which involves the rapid buying and selling - or 'churning' - of investment products using CPF money.

The members dip into their retirement savings to buy and sell investment products under the CPF Investment Scheme - and in doing so they become eligible for cash rebates used as a carrot by errant financial advisers. The advisers get to pocket healthy commissions.

CPF rules prohibit members from pocketing such cash rebates. All gains or rebates from CPF investments must be put back into members' CPF accounts, to ensure they have enough for their golden years.

A CPF Board spokesman said: 'CPF members found guilty of working with errant financial advisers to pocket cash rebates which amount to premature withdrawals of CPF monies may be fined up to $2,500. For second or subsequent convictions, the fine may be up to $10,000.'

Wishing All A Most Blessed Christmas!

"For to us a child is born, to us a son is given, and the government will be on his shoulders. And he will be called Wonderful Counselor, Mighty God, Everlasting Father, Prince of Peace." - Isaiah 9:6

Wishing all readers a most blessed and wonderful Christmas! Christmas is the season of giving because of the birth of Jesus Christ, God's gift to all mankind.

May you find the true joy and spread it amongst family and friends.

What Color Is Your Parachute?

In my current search for a job, I have been reading this wonderful book called What Color Is Your Parachute.

I borrowed it from the library and I must say that this book is impacting my life in more ways than I can count.

I am not too sure why the title of the book is as such but it is really a good book to read.

Amongst the books that I have read, Robert Kiyosaki's Rich Dad Poor Dad and The Richest Man in Babylon are perhaps some of the books that have affected the way I think about things.

Holding this current book in my hand is indeed such a joy. It is as if I am being introduced to a new concept altogether just the way my world was opened up to things like passive and portfolio income when I first read Rich Dad Poor Dad.

I have followed the book's instruction to sketch the picture of my ideal life here.