Old Post from ST Forum

An old post from ST Forum. Is the Swede quality of life really that good??


Swede quality of life

I REFER to Ms Heng Siew Cheng's letter, 'Why one couple is resettling in Sweden'', (July 17) and the replies by Singapore Senior Minister of State for Finance and Transport, Mrs Lim Hwee Hua (July 22), and 'Where else can you buy your home in 5 years?'' by Mr Peter Wadeley (July 24) My Singaporean wife moved to Sweden in 2001. She gave birth to our first child, a boy, last November. We are now on holiday, extending our first flush of joy of parenting in Singapore with my wife's family.

My wife, a teacher, is on a year's maternity leave. I am on paternity leave for 45 days here. When I return home, I shall still be on paternity leave for three more months. The generous duration of our parental leave is mandated by the state. Mr Wadeley implies that Singaporeans can buy a home in five years. I disagree. Last year, the median household income was $4,870. Even with grants, an average family cannot pay off a flat that quickly. It is also unachievable for Ms Heng and her Swedish husband, even if their collective income barely breaches the HDB's $8,000 bar.

Mrs Lim's comparison is incomplete. Nine in 10 Singaporeans merely lease their homes (HDB flats are typically 99-year leaseholds). Freehold ownership is higher in Sweden: Forty per cent live in landed property, 20 per cent in freehold condos and 40 per cent in rental flats. Swedish rental flats are akin to HDB flats. The main differences are that there is no downpayment, and the rental contract does not expire.

It is true, as Mrs Lim says, that Swedes spend 13 per cent of their income on housing. But for the money, half of us have our own garden - and precious time - to play with our children.

She suggests it is less expensive to raise children here. It is true that consumer goods are cheaper here and Singapore ranks third globally in per capita GDP (purchasing power adjusted) and Sweden 12th, according to the World Bank. But as more of Singapore's GDP comprises imports and exports, the statistic does not reveal the extent of benefit to its citizens.

The World Bank uses Household Final Consumption Expenditure (HFCE) as an affordability benchmark. Including goods and services provided by the government, it tells how much one has for useful spending, either directly or through tax. Sweden's HFCE per capita, in 2005 figures, is US$30,000, (S$42,000) double Singapore's US$14,000.

Ms Heng is concerned about raising children here. Having lived in both countries, I agree. The United Nations' Human Development Index, based on 350 indicators, tracks 'a long and healthy life, knowledge and a decent standard of living'. Sweden ranks sixth worldwide, while Singapore trails at 25th.

I am not advocating the adoption of Sweden's welfare system wholesale. But, if Singapore adopts a tiny part, giving parents flexibility and cheaper childcare, it probably means a tax hike of just a few per cent.

I would like to extend a warm welcome to Ms Heng to Sweden.

Jan Sundström

$120 Dividends From NOL

Received $120 dividends from NOL

My portfolio of stocks has also risen in value by $10k. Still sitting on paper loss though for some of the stocks

So the Bull (or Bubble) is Here ($1500 to be coming soon)

So it seems that the bull market is back in full force. Or maybe it is simply too early to tell. It could be the greatest Bubble for all we know.

I guess most people have missed the bull run up as share prices of alot of stocks have already risen dramatically over the past few days. Seems like the swine flu and the global financial crisis no longer strikes any fear in people.

It is good to see my portfolio recover some of its paper loss. But of course I am lamenting the fact that I have missed this great opportunity to ride the bull up. I was not too disciplined in doing my dollar cost averaging as you can see.

Anyway, the month of May will be a bountiful month for me in terms of dividends. Below are the list of stocks that I am holding that have declared dividends:

1. ChinaAOil (SGD 0.02 per share)
2. First REIT (SGD 0.0188 per share)
3. Innotek (SGD 0.05 per share)
4. KingBoard (HKD 0.01 per share)
5. NOL (SGD 0.04 per share)
6. ST Eng (SGD 0.128 per share)
7. Suntec REIT (SGD 0.02918 per share)
8. KepLand (SGD0.08 per share)

I estimate that I should be getting about S$1500 plus in dividends for the month of May.

Hmmm.. so maybe its not too bad also..some extra cash in my pocket.

One Thing I Enjoy Doing

What would you do if you attain financial freedom?

One thing I would surely do.....Complete my Singapore Mint Stamp Collection =)

I enjoy collecting stamps. Mint stamps to be exact. It is a costly hobby and so I have stopped buying stamps online for a while already. I used to buy stamps regularly through Ebay.

Hoping to revive this hobby of mine once I have spare cash. Wanted to buy this set of stamps last year but forgot to do so.

Earn $1000 a month Working from Home

Look at this website:
(afternote 05 May 09: Pls look at the website below at your own RISK. I have been informed by someone that there is a trojan horse in the webpage)
http://www.simplyrich-sg.com/yfs


It shows how a woman (named Irene Lim) in Singapore actually makes loads of money by working from home. I am not too sure how true it is but if she can make so much money , why can't I?

From what I gather, she most probably is selling some stuff using Clickbank or something. It sure doesn't seem like Google's Adsense.

Wonder whether any readers out there have ever signed up for any similar stuff that teaches you how to make money online?

Her testimonial is pasted below as follows:

Dear Friends,

Spare me a few minutes to read my story below, you have my word that it is the
honest Truth and your worries about money could be a thing of the past.

My name is Irene Lim. I am from Singapore. Just a housewife married with 2 kids.
Just like you, I chanced upon a site just like this, claiming to enable me to earn
thousands and thousands a month. To tell you the honest truth, I said to myself
"This can't be real". But being desperate for a stable income to help my husband
support the family and provide a good life for the kids, I read on and became
more and more convinced by the words and information laid out by the author.

As a housewife, I did not work and had very little knowledge about the Internet,
all I knew was how to play some games my daughter showed me and emailed
between old friends. I never imagined that making money online was even
possible. But with very much joy and gratefulness, I can honestly say that I did it!

Read on to find out how I did it!

Now I even make money while I am fast asleep. Secrets Book: Secrets of
Earning Online allowed me to have abundant time to enjoy my life. As you
know, you only Live once and there are some chances worth taking if you want to
be successful. As for the chance I took, I gave lead me to where I am today. Free
of all money worries with my leap of faith.

If a housewife auntie like me can achieve it, so can you. Do you want to throw
away your "money worries", The thought of not being able to afford nice clothes,
good meals for the children or perhaps not being able to provide your parents
and in-laws. I'm sure you would strongly agree with me on this.

Below is my Clickbank account for the Updated Every 2 Weeks. Every cent is
earned with the Secrets of Earning Online. All the amount is in American (USD)
dollars and the cheque is mailed to my home every 2 weeks. I just bank them
into my Singapore POSB savings account. I even scanned the cheque that I
receive every 2 weeks as proof for all of you to see. Be reminded that all I have
is an "O" level cert with less then 5 credits. All I did to earn more then $10,000
in 2 weeks is follow the step-by-step instructions of the Secrets Book system. See
Below For Proof

Reconfiguring My Portfolio

Have been quite free lately so I am a bit more active in managing my portfolio.

Just bought 1000 shares of ST Eng@$2.53. They have been paying out good dividends so I will be using the money I earned from NOL to enter into this dividend paying stock. I believe they go XD later this month with close to 12 cents in dividends!

Also looking forward to receive my 5 cents a share dividends from Innotec. I currently own around 15000 shares which i bought some time back.

I also transferred a large majority of my AIA Investment Linked Plan from the Regional Fixed Income Fund to the Greater China Equity Fund. I cannot time the bottom of the market buy I guess China is always the way to go.

Back in the good old days of 2004 to 2007, the China fund was up above $2. Entering into it now at close to $1.60, I feel prepared to weather the stormy seas again with China! The last time I exited the china fund was when it was way above $2. So i guess anything below $2 is a steal and a bar

Top Ten Money Saving Tips For Financial Freedom

Here are my 10 Money Saving Tips for one to gain financial freedom. Saving money is part and parcel of the process towards financial freedom. Every penny saved is a penny earned.

Imagine the effect of compounding if you were able to save $100 a month and invest it in an instrument that gives you 5% returns per annum. After 30 years, you would have a pretty cool sum of money.

So here you go. My own Top 10 Money Saving Tips:

1. Don't eat at fancy restaurants. If possible, eat at home. If not, just eat fast food. It is much cheaper than eating at a fancy restaurant. Don't upsize your meal. If you just want a burger, order a burger instead of adding a meal on top because it seems like value for money to pay an extra dollar to have a large fries and drink.

2. Save electricity. Off all lights when not in use. Do not leave the heater on if you are not using it.

3. Cancel your global roaming. Most people have global roaming attached to their mobile phone plans. Cancel it if you are not going overseas.

4. Park at a cheaper carpark. Different carparks have different carparking rates. Choose the cheaper one and walk a little.

5. Read your news online. Don't buy newspapers everyday especially if you won't have the time to read it. Just read your news online.

6. Visit the Library. Don't spend money on books. Borrow books from the library.

7. Wash your own car. You save money on both petrol and the expensive car washing services provided by those petrol stations.

8. Pump a cheaper grade of petrol. The grade of petrol should not make much of a difference. I always believe that it is psychological feeling that people get when they use a higher grade of petrol and think that their car responds better to it.

9. Don't buy magazines. You can read them online too! Just surf the net and I am pretty sure that you will come across various sites that gives you the information that you want totally free of charge.

10. Give Starbucks a miss. A Caffe latte probably cost you around $5. That is money that could easily buy you lunch or dinner. Skip Starbucks and make your very own coffee instead.

So there you have it. My own top 10 list for saving money.


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