For those of you who know, I have started on my new job for sometime now.
It has been tough and that's why the number of posts have gone down for quite a while.
The wife also started with a new job so there is lots of adjustments to make over the mean time.
Hope to start posting regularly again soon.
111 Posts and Counting
Wow! It has been almost an entire year since I started this blog and I have accumulated 111 posts already.
Of course, I know a lot of the posts do not fit into the high quality posts that one normally gets from other blogs.
But still I will stick to my own style of writing...and basically, sharing of my experience.
A mid year review will be done soon on the amount of passive income I have attained thus far. I believe I'm still short of my $400 per month passive income.
We will see how it goes as I try to expand into other areas to boost my passive income.
Of course, I know a lot of the posts do not fit into the high quality posts that one normally gets from other blogs.
But still I will stick to my own style of writing...and basically, sharing of my experience.
A mid year review will be done soon on the amount of passive income I have attained thus far. I believe I'm still short of my $400 per month passive income.
We will see how it goes as I try to expand into other areas to boost my passive income.
The Poor Around Us
Lately, I have become more aware of those who are poor living in our midst.
Yes! There are actually poor people around in Singapore.
At a food center near where I live, I always notice a old couple (in their 50s?) occupying a table during the late nights. Whenever I go there for breakfast early in the morning, I see them there with the wife still sleeping and the man looking a toto tickets. I have seen them there countless of times and they seem to be oblivious to the people around them. The wife just sleeps while the unshaven husband flips through lots of toto/4d (?) tickets.
It makes me wonder... what are these people up to with their lives? Did something happen in their family that resulted in them being homeless? Or are they renting out their homes to gain income so as to buy Toto tickets. I seriously don't know.
Another incident took place the other day too. My wife was waiting for me while I was buying some groceries downstairs. There was an old woman standing near the exit too. Later, my wife told me that the old woman had actually asked for $2 from her to buy food to eat.
" So did you give her the $2??" I asked.
" No lah...what happen if she goes and use it to buy cigarettes or stuff?" replies the wife
At this point, I told my wife: " Why do we always assume that poor people are always going to use the money we give them to buy drugs/beer/cigarettes? Perhaps they are really poor and need food to eat?"
The wife felt bad afterwards..
But of course it is a common misperception. We always think that the poor are poor because they gamble, smoke and drink. We tend not to give them money because that's what our parents told us to not to do! We always hear from them how people who beg for money always use the money to buy cigarettes and stuff.
Hmmmm...I think the poor are poor because they are caught in this poverty cycle. There is simply no way out for them unless someone helps them.
Yes! There are actually poor people around in Singapore.
At a food center near where I live, I always notice a old couple (in their 50s?) occupying a table during the late nights. Whenever I go there for breakfast early in the morning, I see them there with the wife still sleeping and the man looking a toto tickets. I have seen them there countless of times and they seem to be oblivious to the people around them. The wife just sleeps while the unshaven husband flips through lots of toto/4d (?) tickets.
It makes me wonder... what are these people up to with their lives? Did something happen in their family that resulted in them being homeless? Or are they renting out their homes to gain income so as to buy Toto tickets. I seriously don't know.
Another incident took place the other day too. My wife was waiting for me while I was buying some groceries downstairs. There was an old woman standing near the exit too. Later, my wife told me that the old woman had actually asked for $2 from her to buy food to eat.
" So did you give her the $2??" I asked.
" No lah...what happen if she goes and use it to buy cigarettes or stuff?" replies the wife
At this point, I told my wife: " Why do we always assume that poor people are always going to use the money we give them to buy drugs/beer/cigarettes? Perhaps they are really poor and need food to eat?"
The wife felt bad afterwards..
But of course it is a common misperception. We always think that the poor are poor because they gamble, smoke and drink. We tend not to give them money because that's what our parents told us to not to do! We always hear from them how people who beg for money always use the money to buy cigarettes and stuff.
Hmmmm...I think the poor are poor because they are caught in this poverty cycle. There is simply no way out for them unless someone helps them.
Renewed my SingTel Broadband
Managed to renew my SingTel broadband at the same price but with a faster broadband speed. Hooray! It will cost me $31.90 which is slightly less than the price I am paying now for a 1Mbps unlimited broadband.
Hope to feel the difference from a 1Mbps to 3 Mbps broadband speed by tomorrow.
Hope to feel the difference from a 1Mbps to 3 Mbps broadband speed by tomorrow.
More Free Time Now
After quitting my job, I found that I have a lot more free time to play around with.
However, it still does not seem that I am putting my time to good use. Too often, I spend my time procrastinating or just doing unproductive things.
Perhaps it is time I pick up some serious time management skills.
On the passive income portfolio end, I purchased 10000 shares of Suntec REITs last week.
I heard a story about a guy who owned 3 properties and when the valuation of his properties went up, he basically refinanced them while doing a upgearing to release the equity in it thus getting about 800k in cash. He then used this money to buy into REITs. Imagine the kind of passive income he is drawing now on top of the rental income from his property!
However, it still does not seem that I am putting my time to good use. Too often, I spend my time procrastinating or just doing unproductive things.
Perhaps it is time I pick up some serious time management skills.
On the passive income portfolio end, I purchased 10000 shares of Suntec REITs last week.
I heard a story about a guy who owned 3 properties and when the valuation of his properties went up, he basically refinanced them while doing a upgearing to release the equity in it thus getting about 800k in cash. He then used this money to buy into REITs. Imagine the kind of passive income he is drawing now on top of the rental income from his property!
Don't Run the Rat Race
Since young, I have always heard this phrase : " Don't run the rat race."
It is only now, 27 years of age, that I finally think I understand what this phrase means.
After working for a number of years, I suddenly realised that I was actually running the rat race! I was working hard at my job, looking for my next promotion, next pay raise. I was also constantly comparing myself with others and checking out what cars they were driving, where they were living, what sort of restaurants they go to, etc , etc.
All these resulted in me neglecting other aspects of my life - spiritual, social, emotional.
Getting Out of the Rat Race
At the turn of 2008, while I was doing my own personal reflection, I realised that I had hardly grown as a person be it in terms of character, knowledge, etc. Yes I did grow but I would not say that the growth was great. Again I compared myself to my peers and saw how some have actually leap frogged past me in terms of qualifications, knowledge in specialised fields, promotions, pay, etc.
I also noticed one thing. I looked at my bosses' lives and did not admire what they were going through. Little family time, weekends spent doing work and going through reports, lots of pressure from the bigger bosses above... I asked myself: " Do I really want to be like them?" The answer was a simple "NO."
It was then that I decided that I needed to get out of this rat race - badly. This rat race was consuming my life. As Lily Tomlin puts it: "The trouble with the rat race is even if you win it, you're still a rat."
I stopped listening to my bosses' "encouragement" to take on more responsibilities so that I could get my next promotion, pay raise, bonus, etc, etc. I told myself that I would no longer run a race that was so meaningless. I would instead run a race that I set out for myself. A race that at my dying bed, I would know was worthwhile for my family, friends, loved ones and myself. Simply, a live that was well-lived and worth living. All things I placed in the context of that final day when I lie at my death bed and ask myself: "Was it worth it?".
A lot of things are simply not worth it. Working long hours and missing dinner with loved ones. Working over the weekends. Getting so tired that I had no time to spend with friends.
For those of you who know, one of the race that I have set for myself is to achieve financial freedom (i.e. earning more in passive income than my expenditures). My spendings and investments have also taken a turn as I now see everything in terms of what will increase my passive income and what I can do to decrease my monthly expenditure.
This blog chronicles my journey. I have journeyed for 1 long year already. Everyday, I am getting closer to my goal. I have also learnt tremendously from fellow forummers and bloggers.
Thank you for accompanying me on this journey. The race is still on and I challenge you to take part in this race too.. the financial freedom race.
It is only now, 27 years of age, that I finally think I understand what this phrase means.
After working for a number of years, I suddenly realised that I was actually running the rat race! I was working hard at my job, looking for my next promotion, next pay raise. I was also constantly comparing myself with others and checking out what cars they were driving, where they were living, what sort of restaurants they go to, etc , etc.
All these resulted in me neglecting other aspects of my life - spiritual, social, emotional.
Getting Out of the Rat Race
At the turn of 2008, while I was doing my own personal reflection, I realised that I had hardly grown as a person be it in terms of character, knowledge, etc. Yes I did grow but I would not say that the growth was great. Again I compared myself to my peers and saw how some have actually leap frogged past me in terms of qualifications, knowledge in specialised fields, promotions, pay, etc.
I also noticed one thing. I looked at my bosses' lives and did not admire what they were going through. Little family time, weekends spent doing work and going through reports, lots of pressure from the bigger bosses above... I asked myself: " Do I really want to be like them?" The answer was a simple "NO."
It was then that I decided that I needed to get out of this rat race - badly. This rat race was consuming my life. As Lily Tomlin puts it: "The trouble with the rat race is even if you win it, you're still a rat."
I stopped listening to my bosses' "encouragement" to take on more responsibilities so that I could get my next promotion, pay raise, bonus, etc, etc. I told myself that I would no longer run a race that was so meaningless. I would instead run a race that I set out for myself. A race that at my dying bed, I would know was worthwhile for my family, friends, loved ones and myself. Simply, a live that was well-lived and worth living. All things I placed in the context of that final day when I lie at my death bed and ask myself: "Was it worth it?".
A lot of things are simply not worth it. Working long hours and missing dinner with loved ones. Working over the weekends. Getting so tired that I had no time to spend with friends.
For those of you who know, one of the race that I have set for myself is to achieve financial freedom (i.e. earning more in passive income than my expenditures). My spendings and investments have also taken a turn as I now see everything in terms of what will increase my passive income and what I can do to decrease my monthly expenditure.
This blog chronicles my journey. I have journeyed for 1 long year already. Everyday, I am getting closer to my goal. I have also learnt tremendously from fellow forummers and bloggers.
Thank you for accompanying me on this journey. The race is still on and I challenge you to take part in this race too.. the financial freedom race.
$1590.38 in Dividends & Passive Income for May 09
This month was another bountiful month for me similar to Feb 09.
The breakdown is as follows:
1. Stock Dividends = $1553.50
2. Canroys Distribution = $15.88
3. Other income = $21.00
This brings the grand total to an amount of $1590.38.
The breakdown is as follows:
1. Stock Dividends = $1553.50
2. Canroys Distribution = $15.88
3. Other income = $21.00
This brings the grand total to an amount of $1590.38.
Raking in the Money
Decided to cash out of some stock positions to realise the gains that I have. They are not alot and are nothing to be proud of since I am still actually sitting on paper loss on my other shares.
Also bought into Ascendas REITs
Below are my trading activities for today:
1. Sold 6000 Hongguo at $0.255 (Remaining left 24,000 Hongguo shares)
2. Sold KepLand @$2.27 (Remarks : Bought @1.96, Sold the rights for $755 plus gains of $270, not bad)
3. Bought Ascendas REITs (3000 shares @$1.37)
As you can see, I am really a small small fish in a big big sea. The quantity that I trade is very little so I really need the stock price to move up a lot before I can make a gain.
Also bought into Ascendas REITs
Below are my trading activities for today:
1. Sold 6000 Hongguo at $0.255 (Remaining left 24,000 Hongguo shares)
2. Sold KepLand @$2.27 (Remarks : Bought @1.96, Sold the rights for $755 plus gains of $270, not bad)
3. Bought Ascendas REITs (3000 shares @$1.37)
As you can see, I am really a small small fish in a big big sea. The quantity that I trade is very little so I really need the stock price to move up a lot before I can make a gain.
Stock Dividends Received for 26 May 09
Received the following stock dividends:
1. $66.72 (KingBoard stocks)
2. $750 (Innotek)
Total Dividends received for today = $ 816.72
1. $66.72 (KingBoard stocks)
2. $750 (Innotek)
Total Dividends received for today = $ 816.72
Liquidated My Stocks and Rights
I decided to liquidate my stocks in Pengrowth Energy Trust and also my rights for KepLand.
Reasons being this:
1. The amount of shares I own in Pengrowth Energy Trust was only a mere 100. The price had risen to give me a returns of greater than 25%. Also, the dividends that I received were not substantial enough to warrant UOB Kay Hian from deducting $5 for postage and handling fees.
2. KepLand had recently declared dividends of $0.08 per share. To subscribe to the rights, I would have to pay slightly over $1. This would set me back by $1000 which is not too good for my current cash flow. On top of this, Pac Andes has also recently announced that it will issue rights too. This is a scary thought....are all the companies I own starting to issue rights now to gain more money to boost up their books? What happened to all the passive income I am supposed to get from dividends?
Therefore, I liquidated my 100 shares of Pengrowth Energy Trust and my 900 nil paid rights of KepLand.
Total amount I will get from the sale of both should amount to $1800
Reasons being this:
1. The amount of shares I own in Pengrowth Energy Trust was only a mere 100. The price had risen to give me a returns of greater than 25%. Also, the dividends that I received were not substantial enough to warrant UOB Kay Hian from deducting $5 for postage and handling fees.
2. KepLand had recently declared dividends of $0.08 per share. To subscribe to the rights, I would have to pay slightly over $1. This would set me back by $1000 which is not too good for my current cash flow. On top of this, Pac Andes has also recently announced that it will issue rights too. This is a scary thought....are all the companies I own starting to issue rights now to gain more money to boost up their books? What happened to all the passive income I am supposed to get from dividends?
Therefore, I liquidated my 100 shares of Pengrowth Energy Trust and my 900 nil paid rights of KepLand.
Total amount I will get from the sale of both should amount to $1800
Aren't My Stocks Supposed to be Assets?
Robert Kiyosaki mentioned in his book "Rich Dad, Poor Dad" that assets put money into your pocket while liabilities take money out of your pocket.
It was with this in mind that I started to acquire more of these assets (e.g. stocks) instead of frivolous stuff like clothes, accessories, electronic devices and stuff.
These stocks I own have been paying me quarterly and yearly dividends. Thus, they have been putting money into my pocket over the years.
However, two stocks that I have recently declared "rights' issue. For the uninitiated, that basically means that the company is issuing me with more shares and I have to pay for them if I intend to exercise my "rights" or either forfeit them and see my shareholdings in the company diluted.
What an irony. These assets are now taking money out of my pocket! All the dividends that I have earned from them are like useless.
If they are so cash strapped, why did they even declare dividends in the first place over the years?
Didn't they foresee this coming? Why weren't they more prudent in calculating the amount of dividends that they were giving out over the years?
So now instead of owning assets, I am like owning two businesses which are asking me to pump in more money into them. I can't tell whether these are assets or liabilities just yet.
*Big Sigh*
It was with this in mind that I started to acquire more of these assets (e.g. stocks) instead of frivolous stuff like clothes, accessories, electronic devices and stuff.
These stocks I own have been paying me quarterly and yearly dividends. Thus, they have been putting money into my pocket over the years.
However, two stocks that I have recently declared "rights' issue. For the uninitiated, that basically means that the company is issuing me with more shares and I have to pay for them if I intend to exercise my "rights" or either forfeit them and see my shareholdings in the company diluted.
What an irony. These assets are now taking money out of my pocket! All the dividends that I have earned from them are like useless.
If they are so cash strapped, why did they even declare dividends in the first place over the years?
Didn't they foresee this coming? Why weren't they more prudent in calculating the amount of dividends that they were giving out over the years?
So now instead of owning assets, I am like owning two businesses which are asking me to pump in more money into them. I can't tell whether these are assets or liabilities just yet.
*Big Sigh*
Received $268 in Dividends
Received the following stock dividends for 19 May and 20 May 09:
$140 from China Aviation Oil
$128 from ST Eng
$140 from China Aviation Oil
$128 from ST Eng
In 2003 I had only $4.35 in Bank Account
I was just flipping through my old bank records when I came across this entry:
100403 = ***********4.35
Yes..there was a moment in my life that I actually had only $4.35 in my bank account! I was too proud to ask my parents for money even though I could.
I remember those days and weeks while I waited for the next pay check. It was terrible. The only consolation was that I still stayed with my parents back then (was not married in 2003) so I had no bills to pay and stuff. Food was also free =)
The feeling was just so terrible. Friends asked me out and I gave excuses not to go.
That lasted for close to a month where the magic wall (ATM machine) would not give me any cash. The minimum withdrawal was $20 just in case you did not know. I almost wanted to go to the bank to close the account so that I could take out the $4.35 inside.
Ha.. Those were really the days..
100403 = ***********4.35
Yes..there was a moment in my life that I actually had only $4.35 in my bank account! I was too proud to ask my parents for money even though I could.
I remember those days and weeks while I waited for the next pay check. It was terrible. The only consolation was that I still stayed with my parents back then (was not married in 2003) so I had no bills to pay and stuff. Food was also free =)
The feeling was just so terrible. Friends asked me out and I gave excuses not to go.
That lasted for close to a month where the magic wall (ATM machine) would not give me any cash. The minimum withdrawal was $20 just in case you did not know. I almost wanted to go to the bank to close the account so that I could take out the $4.35 inside.
Ha.. Those were really the days..
Family Networth Hits $500,000
With the brief stock market recovery/rally, my family's total networth (assets minus liabilities) has exceeded $500,000 for the first time.
Not a time to celebrate though as the markets might drop and bring our networth down again.
Not a time to celebrate though as the markets might drop and bring our networth down again.
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
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.
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.
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
(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
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.
Read Related Articles:
1. Save Electricity, Save Money
2. Retire Young, Retire Rich
3. 3 Key Lessons from Rich Dad Poor Dad
4. 3 Sources of Passive Income
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.
Read Related Articles:
1. Save Electricity, Save Money
2. Retire Young, Retire Rich
3. 3 Key Lessons from Rich Dad Poor Dad
4. 3 Sources of Passive Income
A Millionaire by 30
I was browsing through some books in the bookshop lately when I came across this book about a typical guy who worked 9 to 5 and managed to increase his personal networth to a cool US$1 million after like close to 8 years of work, investing and buying property.
It made me remember that during my schooling days, I always thought that I would become a millionaire by 30 too!
HOWEVER, somehow I put that dream aside to chase other ideals like friends, family, etc.
Also, it just does not seem realistic to be a millionaire by 30 in Singapore right?
So reading that book was really a wake up call. Afterall, that guy who wrote the book lives in one of the most expensive cities in US. Credit must be given to him that he pursued his dream non-stop from his early twenties all the way till his 30th birthday.
My 30th birthday is like 2.5 years away.
And I am not even close to being a millionaire. Combined with my wife, we are probably only at the halfway point. Is it too late to chase the dream of being a millionaire by the age of 30?
I also came across a book by Adam Wong (an internet marketer) who was mentored by Adam Khoo and went on to earn six digits through internet marketing and stuff.
The common thing about these two guys is simply this : Both were focused on their goals and they did not let people around dissuade them from it. To them, being rich was sort of like a certainty that they were pursuing. They did not see it as a dream that could not be attained. Furthermore, both these guys are not your "scholar" kind of people who go to top universities and stuff.
Hmmmm... A millionaire by Thirty?
Anyway, conducted a flurry of trading activity over the past few weeks. Some decisions might not have been too wise.
Since NOL went XD, I will get around $120 from the 3 lots that I hold. I sold 2 lots @$1.36 to make a nice little profit on top of my dividends.
Bought 5000 x KingBoard @0.14 and 6,000 x Hongguo @0.125 and 1000 x CitiCorp@US$4.09
Sold the 5000 x KingBoard @0.17 to earn a tidy profit of $90
It made me remember that during my schooling days, I always thought that I would become a millionaire by 30 too!
HOWEVER, somehow I put that dream aside to chase other ideals like friends, family, etc.
Also, it just does not seem realistic to be a millionaire by 30 in Singapore right?
So reading that book was really a wake up call. Afterall, that guy who wrote the book lives in one of the most expensive cities in US. Credit must be given to him that he pursued his dream non-stop from his early twenties all the way till his 30th birthday.
My 30th birthday is like 2.5 years away.
And I am not even close to being a millionaire. Combined with my wife, we are probably only at the halfway point. Is it too late to chase the dream of being a millionaire by the age of 30?
I also came across a book by Adam Wong (an internet marketer) who was mentored by Adam Khoo and went on to earn six digits through internet marketing and stuff.
The common thing about these two guys is simply this : Both were focused on their goals and they did not let people around dissuade them from it. To them, being rich was sort of like a certainty that they were pursuing. They did not see it as a dream that could not be attained. Furthermore, both these guys are not your "scholar" kind of people who go to top universities and stuff.
Hmmmm... A millionaire by Thirty?
Anyway, conducted a flurry of trading activity over the past few weeks. Some decisions might not have been too wise.
Since NOL went XD, I will get around $120 from the 3 lots that I hold. I sold 2 lots @$1.36 to make a nice little profit on top of my dividends.
Bought 5000 x KingBoard @0.14 and 6,000 x Hongguo @0.125 and 1000 x CitiCorp@US$4.09
Sold the 5000 x KingBoard @0.17 to earn a tidy profit of $90
My First Cheque from Penn West Energy Trust
So I received a total sum of $6.66 for my 50 shares of Penn West Energy Trust. See picture of the cheque from Penn West below:
The distribution was actually a grand total of $14.12. HOWEVER, after deducting for a 30% withholding tax, postage/handling charges of $5 and a 7% GST, I am left with a paltry $6.66.
There you have it, my dividends nearly halved by all these expenses. Oh well, guess I will just have to accumulate more of Penn West Energy Trust for all these expenses to be worthwhile.
The distribution was actually a grand total of $14.12. HOWEVER, after deducting for a 30% withholding tax, postage/handling charges of $5 and a 7% GST, I am left with a paltry $6.66.
There you have it, my dividends nearly halved by all these expenses. Oh well, guess I will just have to accumulate more of Penn West Energy Trust for all these expenses to be worthwhile.
$10.70 refunded back
Called up DBS to cancel off my debit cards which I have not been using. They decided that they would reimburse me the annual fee which was just recently charged. Yipee!
Managed to save a total of $10.70
It's not alot I know but every little bit counts.
Financial freedom afterall is bringing down my monthly expenditure and bring up my monthly passive income.
I have done a quick look at my portfolio and realised that contrary to my beliefs, I have not been investing as aggressively as I would have liked during this bear market. Most of my stocks that I have bought are still in the red.
Except for NOL which I have bought at a lower price than today's closing price, the rest of my stocks are all bought at a much higher price. Time to load up on all my stocks again.
Managed to save a total of $10.70
It's not alot I know but every little bit counts.
Financial freedom afterall is bringing down my monthly expenditure and bring up my monthly passive income.
I have done a quick look at my portfolio and realised that contrary to my beliefs, I have not been investing as aggressively as I would have liked during this bear market. Most of my stocks that I have bought are still in the red.
Except for NOL which I have bought at a lower price than today's closing price, the rest of my stocks are all bought at a much higher price. Time to load up on all my stocks again.
Added PWE into my Portfolio
Added 50 shares of PWE. Also bought 500 shares of Citicorp @2.92
My updated portfolio for passive income for 11 Apr 2009 is as such:
1. 12,000 x Ascott REITs (DPU = 4.28 per half) = $85.60 per month (decrease in DPU)
2. 17,000 x First REITs (DPU = 1.94 per qtr) = $109.93 per month (increase in DPU)
3. 1000 x Suntec REITs (DPU = 2.858 qtr) = $9.52 per month
4. 3000 x NOL (estimate 8 cents per year*) = $20.00 per month
5. Maybank iSavvy Deposit = $8 per month
6. 100 x PenWest Energy Trust = $22.00 per month
7. 100 x Pengrowth Energy Trust = $15.00 per month
Total avg monthly passive income = $270.05 (Mar 09)
Taking one step at a time towards my financial freedom.
My updated portfolio for passive income for 11 Apr 2009 is as such:
1. 12,000 x Ascott REITs (DPU = 4.28 per half) = $85.60 per month (decrease in DPU)
2. 17,000 x First REITs (DPU = 1.94 per qtr) = $109.93 per month (increase in DPU)
3. 1000 x Suntec REITs (DPU = 2.858 qtr) = $9.52 per month
4. 3000 x NOL (estimate 8 cents per year*) = $20.00 per month
5. Maybank iSavvy Deposit = $8 per month
6. 100 x PenWest Energy Trust = $22.00 per month
7. 100 x Pengrowth Energy Trust = $15.00 per month
Total avg monthly passive income = $270.05 (Mar 09)
Taking one step at a time towards my financial freedom.
Leaving Assets For Future Generations
I got into a talk with one of these financial planners lately. The topic we talked about was basically insurance and how one could virtually give one's child/children a good inheritance.
The idea might sound warp but it is worth thinking about. Basically, it involves you just buying a whole life insurance and not drawing that money out/surrendering the policy/or letting it lapse.
As death is certain, you can be assured that your beneficiaries will receive whatever amount is the sum assured on your life as well as any accumulated bonuses. So perhaps for a total price of $100,000 over say a period of 25 years ($4000 per year), you are able to pass over quite a sizeable fortune (maybe $0.5 million) to your child/children when you die. That is of course if you do not surrender the policy or anything before your appointed time with the Maker.
Just food for thought =)
By the way, I added another 200k insurance which brings my total insurance to $560k life coverage.
Have updated my adsense earnings for the month of March here.
The idea might sound warp but it is worth thinking about. Basically, it involves you just buying a whole life insurance and not drawing that money out/surrendering the policy/or letting it lapse.
As death is certain, you can be assured that your beneficiaries will receive whatever amount is the sum assured on your life as well as any accumulated bonuses. So perhaps for a total price of $100,000 over say a period of 25 years ($4000 per year), you are able to pass over quite a sizeable fortune (maybe $0.5 million) to your child/children when you die. That is of course if you do not surrender the policy or anything before your appointed time with the Maker.
Just food for thought =)
By the way, I added another 200k insurance which brings my total insurance to $560k life coverage.
Have updated my adsense earnings for the month of March here.
3 Sources of Passive Income
Been seeing a lot of advertisements on the newspapers recently advertising how some people are willing to teach you how to make passive income by either joining their seminars and stuff. Well, I will just share mine openly since I believe that knowledge ought to be free for all.
In this post, I will be revealing the 3 sources of passive income that I hope to achieve by the end of this year. For this year, my goal is to achieve a passive income of $400 per month or $4800 per annum. I am looking to 3 areas/ sources to grow my passive income.
Source #1 - Dividends and Distributions from Stocks/REITs
This is currently my main source of passive income. I hope to achieve a minimum of $300 per month or $3600 per annum of passive income from dividends and distributions that I receive from both Singapore and US listed stocks.
Source #2 - Paid Advertisements on Blogs
I am currently relying on Google's Adsense to make some coffee money. It is peanuts really. Hope to achieve a stable $20 per month by the end of this year.
Source #3 - Writing Options
I have opened an OptionsXpress account. Basically, I hope to sell naked puts on fundamentally good stocks. Should the puts be exercised, I won't mind buying the stocks. If not, I will just be happy to make money from these puts. I hope to make this source of passive income operational by May 09.
There you go! My 3 sources of passive income. Feel free to comment or share your sources of passive income with me!
Read Related Articles:
1. My Flat is Worth Half A Million?
2. Passive Income Update for October 2009
No Income Tax to Pay but must pay for Carpark
No Income Tax to Pay
Just finished filing my family's income tax.
After accounting for all the tax reliefs, rebates and stuff, my family has $0 in taxes to pay for the year! Perhaps its also because we don't earn that much in the first place.
Carparking
The only downside to the start of April 09 was the need to renew my carparking.
I renewed it for 3 months at a price of $270. Very expensive. That is equivalent to $3 a day!
Perhaps it is time to get a landed property so that I do not need to pay for parking.
Stock Purchases
Added 6,000 shares of Hongguo @0.125
Hope the bull market does not return too soon so that I can collect more stocks/REITs on the cheap.
P.S : To the team at SG Dividends, I have included a link to your site.
Cheers,
Financial Freedom
Just finished filing my family's income tax.
After accounting for all the tax reliefs, rebates and stuff, my family has $0 in taxes to pay for the year! Perhaps its also because we don't earn that much in the first place.
Carparking
The only downside to the start of April 09 was the need to renew my carparking.
I renewed it for 3 months at a price of $270. Very expensive. That is equivalent to $3 a day!
Perhaps it is time to get a landed property so that I do not need to pay for parking.
Stock Purchases
Added 6,000 shares of Hongguo @0.125
Hope the bull market does not return too soon so that I can collect more stocks/REITs on the cheap.
P.S : To the team at SG Dividends, I have included a link to your site.
Cheers,
Financial Freedom
Added Pengrowth Energy Trust
Updating my passive income portfolio.
PenWest Energy Trust had a dividend cut to US$0.15 per unit. Also added Pengrowth Energy Trust into my portfolio. It gives US$0.10 per unit.
My updated portfolio for passive income for 31 Mar 2009 is as such:
1. 12,000 x Ascott REITs (DPU = 4.28 per half) = $85.60 per month (decrease in DPU)
2. 17,000 x First REITs (DPU = 1.94 per qtr) = $109.93 per month (increase in DPU)
3. 1000 x Suntec REITs (DPU = 2.858 qtr) = $9.52 per month
4. 3000 x NOL (estimate 8 cents per year*) = $20.00 per month
5. Maybank iSavvy Deposit = $8 per month
6. 50 x PenWest Energy Trust = $11.00 per month
7. 100 x Pengrowth Energy Trust = $15.00 per month
Total avg monthly passive income = $259.05 (Mar 09)
PenWest Energy Trust had a dividend cut to US$0.15 per unit. Also added Pengrowth Energy Trust into my portfolio. It gives US$0.10 per unit.
My updated portfolio for passive income for 31 Mar 2009 is as such:
1. 12,000 x Ascott REITs (DPU = 4.28 per half) = $85.60 per month (decrease in DPU)
2. 17,000 x First REITs (DPU = 1.94 per qtr) = $109.93 per month (increase in DPU)
3. 1000 x Suntec REITs (DPU = 2.858 qtr) = $9.52 per month
4. 3000 x NOL (estimate 8 cents per year*) = $20.00 per month
5. Maybank iSavvy Deposit = $8 per month
6. 50 x PenWest Energy Trust = $11.00 per month
7. 100 x Pengrowth Energy Trust = $15.00 per month
Total avg monthly passive income = $259.05 (Mar 09)
Financial updates for March
This is a short post.
Just to remind myself that I added 6000 x Hongguo at $777.73 to my existing share portfolio.
In addition, opened a Citibank step up interest account to earn up to 1% interest for my deposits. Will take 12 months to step up to that 1% interest though.
Making an effort to update my monthly income and expenditure to this blog too.
My income for Mar 09 inclusive of bonuses and CPF contributions = $16, 381.
Hope to update my expenditure for the month of Mar 09 too.
Just to remind myself that I added 6000 x Hongguo at $777.73 to my existing share portfolio.
In addition, opened a Citibank step up interest account to earn up to 1% interest for my deposits. Will take 12 months to step up to that 1% interest though.
Making an effort to update my monthly income and expenditure to this blog too.
My income for Mar 09 inclusive of bonuses and CPF contributions = $16, 381.
Hope to update my expenditure for the month of Mar 09 too.
First US Stock for my Dividends Portfolio
Updating my passive income portfolio
My updated portfolio for passive income for Mar 2009 is as such:
1. 12,000 x Ascott REITs (DPU = 4.28 per half) = $85.60 per month (decrease in DPU)
2. 17,000 x First REITs (DPU = 1.94 per qtr) = $109.93 per month (increase in DPU)
3. 1000 x Suntec REITs (DPU = 2.858 qtr) = $9.52 per month
4. 3000 x NOL (estimate 8 cents per year*) = $20.00 per month
5. Maybank iSavvy Deposit = $8 per month
6. 50 x PenWest Energy Trust = $13.50 per month
Total avg monthly passive income = $246.55 (Mar 09) versus $224.59 (Oct 08)
My updated portfolio for passive income for Mar 2009 is as such:
1. 12,000 x Ascott REITs (DPU = 4.28 per half) = $85.60 per month (decrease in DPU)
2. 17,000 x First REITs (DPU = 1.94 per qtr) = $109.93 per month (increase in DPU)
3. 1000 x Suntec REITs (DPU = 2.858 qtr) = $9.52 per month
4. 3000 x NOL (estimate 8 cents per year*) = $20.00 per month
5. Maybank iSavvy Deposit = $8 per month
6. 50 x PenWest Energy Trust = $13.50 per month
Total avg monthly passive income = $246.55 (Mar 09) versus $224.59 (Oct 08)
Thoughts on Financial Freedom, Success and Happiness
Of Financial Freedom
I started this blog in August 2008. The main purpose of this blog then was to chronicle my journey towards financial freedom. After much thought on deciding what financial freedom meant to different people, I decided that financial freedom for me would be simply to allow my monthly passive income to exceed my monthly expenditures.
However, I have come to realise that while this might mean financial freedom in the pure income and expenditure department, it does not necessarily mean that I will become financially "free".
What do I mean?
It means that I could actually have passive income that is greater than my monthly expenditure but still not be contented with what I have. Thus in that sense, financial freedom will become an endless pursuit, a chasing after the wind, where I will just crave for more and more money.
Financial freedom is thus also about the state of my mind. Am I contented with what I have today? Will i be contented when my monthly passive income exceeds my monthly expenditure?
Only when one is contented can one then achieve financial freedom in the true sense of the word.
Of Success
What is success to me? Is it driving a nice big car? Living in a bungalow?
I have decided that true success is being able to contribute back to society - to be able to use one's labour for the benefit of others.
True success is also about not being bothered by how others view you. Why try so hard to impress people you don't like?
Of Happiness
One can be rich and still be not happy. Thus, riches is not the path to happiness.
Instead, happiness is found in having the basic necessities, having close friends and family, and having the freedom to do what you want when you want and not be bogged down by deadlines/meetings/last minute work assignments.
Conclusion
March 2009 marks a turning point in my life as I have become much clearer about what it means to be financially free; and also what success and happiness is all about. Previously I had a vague idea in my head what all these was about but I guess that the more I conversed with people, the clearer my thoughts on this matters became.
This breakthrough in my thinking was only made possible by deep reflection, talking to close friends and also preparing to switch my job.
I started this blog in August 2008. The main purpose of this blog then was to chronicle my journey towards financial freedom. After much thought on deciding what financial freedom meant to different people, I decided that financial freedom for me would be simply to allow my monthly passive income to exceed my monthly expenditures.
However, I have come to realise that while this might mean financial freedom in the pure income and expenditure department, it does not necessarily mean that I will become financially "free".
What do I mean?
It means that I could actually have passive income that is greater than my monthly expenditure but still not be contented with what I have. Thus in that sense, financial freedom will become an endless pursuit, a chasing after the wind, where I will just crave for more and more money.
Financial freedom is thus also about the state of my mind. Am I contented with what I have today? Will i be contented when my monthly passive income exceeds my monthly expenditure?
Only when one is contented can one then achieve financial freedom in the true sense of the word.
Of Success
What is success to me? Is it driving a nice big car? Living in a bungalow?
I have decided that true success is being able to contribute back to society - to be able to use one's labour for the benefit of others.
True success is also about not being bothered by how others view you. Why try so hard to impress people you don't like?
Of Happiness
One can be rich and still be not happy. Thus, riches is not the path to happiness.
Instead, happiness is found in having the basic necessities, having close friends and family, and having the freedom to do what you want when you want and not be bogged down by deadlines/meetings/last minute work assignments.
Conclusion
March 2009 marks a turning point in my life as I have become much clearer about what it means to be financially free; and also what success and happiness is all about. Previously I had a vague idea in my head what all these was about but I guess that the more I conversed with people, the clearer my thoughts on this matters became.
This breakthrough in my thinking was only made possible by deep reflection, talking to close friends and also preparing to switch my job.
Singapore Inflation for 2008 is 6.5%
So Singapore's Consumer Price Index (CPI) for 2008 climbed to its highest in 28 years. That is a whopping 6.5% !
What this means is that my money in the bank is basically being wiped out by inflation.
With a paltry < 1% bank deposit rate, the bank deposit rates are simply not sufficient to combat this high inflation.
But in reality, what are the prices that have truly gone up for my household?
I will say one word "Petrol". The prices of petrol has simply gone up so much.
Pumping a 95 octane fuel cost almost $1.40++ per litre. If I remember correctly, the highest grade of petrol used to be that price like 7 years back when I first started driving.
Other than petrol, I don't think my household has seen a significant increase in any other item.
Electricity bills did go up a bit during the end of the year but we managed to cut down on our air-con usage and stuff.
What this means is that my money in the bank is basically being wiped out by inflation.
With a paltry < 1% bank deposit rate, the bank deposit rates are simply not sufficient to combat this high inflation.
But in reality, what are the prices that have truly gone up for my household?
I will say one word "Petrol". The prices of petrol has simply gone up so much.
Pumping a 95 octane fuel cost almost $1.40++ per litre. If I remember correctly, the highest grade of petrol used to be that price like 7 years back when I first started driving.
Other than petrol, I don't think my household has seen a significant increase in any other item.
Electricity bills did go up a bit during the end of the year but we managed to cut down on our air-con usage and stuff.
Bills to Pay
The bills have arrived once again.
Credit card bills - $645.52
Road Tax - $380.50
Singtel Broadband - $33.87
Starhub Cable - $25.68
Starhub Ltd - $51.93
I really need to find ways to increase my passive income especially with my pending job switch
Credit card bills - $645.52
Road Tax - $380.50
Singtel Broadband - $33.87
Starhub Cable - $25.68
Starhub Ltd - $51.93
I really need to find ways to increase my passive income especially with my pending job switch
Spent $215 Servicing My Car
My car a Mitsubishi Lancer 1.6A was way overdue for servicing so I brought it to a workshop for servicing today.
It is still way under 80,000km and is only around 2.5 years old so rightfully I should have brought it back to the original distribute (Cycle & Carriage) for repairs/servicing as the 3 year warranty would be void if I went elsewhere.
Problem is: Cycle and Carriage servicing is abit slow and tends to be quite expensive.
So after asking around abit, I decided to go to one of the workshops which my friend uses. He said it was pretty cheap.
The total cost was $215 all inclusive and it took about 1.5 hrs. The works included:
1. Replacing engine oil - Voltronic semi synthetic oil 10W40
2. Replacing air filter
3. Replacing spark plugs - volker iridium (last for 2 years/160,000km)
4. A minor improvement to the dent on my bonnet. He tried "sucking" the dent out 3 times but it only got slightly better
Was it worth it?
It is still way under 80,000km and is only around 2.5 years old so rightfully I should have brought it back to the original distribute (Cycle & Carriage) for repairs/servicing as the 3 year warranty would be void if I went elsewhere.
Problem is: Cycle and Carriage servicing is abit slow and tends to be quite expensive.
So after asking around abit, I decided to go to one of the workshops which my friend uses. He said it was pretty cheap.
The total cost was $215 all inclusive and it took about 1.5 hrs. The works included:
1. Replacing engine oil - Voltronic semi synthetic oil 10W40
2. Replacing air filter
3. Replacing spark plugs - volker iridium (last for 2 years/160,000km)
4. A minor improvement to the dent on my bonnet. He tried "sucking" the dent out 3 times but it only got slightly better
Was it worth it?
$1588 for a MacBook
Thinking of buying a MacBook but it costs $1588. Not too sure whether it is too much money to pay for just the Apple brand? I actually took a walk at Wheelock's Place to the Apple store that was on the 2nd floor.
I had to ask myself: " Is this a WANT? Or is this a NEED?"
I then realised that a MacBook is a want. I want a MacBook. But in actual fact, I don't need it.
Perhaps I will just buy an ACER laptop which is much cheaper. It really takes a lot of discipline not to spend money unnecessarily.
Simple logic.
"NO" to buying a $1588 Macbook for myself.
I can buy a much cheaper laptop and save the rest of the money.
I had to ask myself: " Is this a WANT? Or is this a NEED?"
I then realised that a MacBook is a want. I want a MacBook. But in actual fact, I don't need it.
Perhaps I will just buy an ACER laptop which is much cheaper. It really takes a lot of discipline not to spend money unnecessarily.
Simple logic.
"NO" to buying a $1588 Macbook for myself.
I can buy a much cheaper laptop and save the rest of the money.
I have Resigned from my Job
I have resigned from my job and am looking forward to working at my new place =)
People keep asking me to delay my resignation as times are bad now. Duh.. as if I do not know.
The point is this : I simply do not enjoy working at my current job. I am NOT happy no matter how hard I try.
Yes of course i might not be happy at my new place but at least I have given it a shot. I do not want to spend the rest of my life wondering about "what ifs". You only live through life once.
Well as part of my learning process, I think I have learnt alot about myself in this current job. Some of my weaknesses which I am trying to overcome are as follows:
1. To speak up more. Do not be afraid of stating my opinions.
2. Smile more. Talk to others more
3. Be more proactive. Don't be too reactive. Sometimes when we have too much work to do, we tend to "shun" other "extra" work.
I hope to be able to strengthen my weak points even as I embark on my new job.
People keep asking me to delay my resignation as times are bad now. Duh.. as if I do not know.
The point is this : I simply do not enjoy working at my current job. I am NOT happy no matter how hard I try.
Yes of course i might not be happy at my new place but at least I have given it a shot. I do not want to spend the rest of my life wondering about "what ifs". You only live through life once.
Well as part of my learning process, I think I have learnt alot about myself in this current job. Some of my weaknesses which I am trying to overcome are as follows:
1. To speak up more. Do not be afraid of stating my opinions.
2. Smile more. Talk to others more
3. Be more proactive. Don't be too reactive. Sometimes when we have too much work to do, we tend to "shun" other "extra" work.
I hope to be able to strengthen my weak points even as I embark on my new job.
$1071.98 in Passive Income for February 2009
Looked at my bank account today and was pleasantly surprised to discover that I have received quite a bit of passive income for the month of Feb 09.
Total amount was $1071.98 and comprised dividends from First REITs, Ascott REITs and SUNTEC REITs as well as the $200 Goods and Services Tax Credits that I received. Details as follows:
In these depressive and uncertain times, I have posted some funny videos here to cheer everyone up =)
Total amount was $1071.98 and comprised dividends from First REITs, Ascott REITs and SUNTEC REITs as well as the $200 Goods and Services Tax Credits that I received. Details as follows:
27 Feb 2009 GC S$200.00
27 Feb 2009 CDP CDP-FIRST RE S$266.90
27 Feb 2009 CDP CDP-FIRST RE S$30.60
27 Feb 2009 CDP CDP-FIRST RE S$32.30
27 Feb 2009 CDP CDP-ASCOTTRE S$313.20
27 Feb 2009 CDP CDP-ASCOTTRE S$51.60
27 Feb 2009 CDP CDP-ASCOTTRE S$148.80
27 Feb 2009 CDP CDP-SUNTECRE S$0.81
27 Feb 2009 CDP CDP-SUNTECRE S$19.17
27 Feb 2009 CDP CDP-SUNTECRE S$6.13
27 Feb 2009 CDP CDP-SUNTECRE S$2.47
In my blogging efforts, I managed a paltry US$8.29 from Google's Adsense. But I am not including that into my passive income yet since it is money I will not receive for sometime.
Busy now with filling my tax returns and trying to see what are the tax reliefs and tax rebates I can get.In these depressive and uncertain times, I have posted some funny videos here to cheer everyone up =)
Feeling Sick Again Looking at My Stock Portfolio
Feeling totally sick when I just look at my stock portfolio. It is down by more than 50% and the losses are huge.
With the money I have lost, I would have been able to buy a brand new car...
Was I wrong to invest my money into the stock market? Sigh..
Full Time Blogger
Hmm.. Perhaps I could be a full time blogger if the economy does not pick up.
I started blogging in May 08 and since then, I have been able to earn a consistent $5 - $10 per month even though I do not blog regularly. The number of visitors to my blogs are also less than 100 a day.
Even for the month of Feb 09 where I hardly had any new entries in my blog, I have already managed to earn close to $8 from Adsense income.
So.. just maybe.. if I spend all my time blogging, I could possible earn much more!
Decisions..decisions.. =)
I started blogging in May 08 and since then, I have been able to earn a consistent $5 - $10 per month even though I do not blog regularly. The number of visitors to my blogs are also less than 100 a day.
Even for the month of Feb 09 where I hardly had any new entries in my blog, I have already managed to earn close to $8 from Adsense income.
So.. just maybe.. if I spend all my time blogging, I could possible earn much more!
Decisions..decisions.. =)
NOL announces dividends
So NOL announces 4 cents dividends. Not bad since I have 3 lots of it. Should be able to collect a small sum of $120 as my first dividends for the year.
Apologies for not writing much the past few weeks as I have just been too bogged down at work (as well as looking for a new job)
Apologies for not writing much the past few weeks as I have just been too bogged down at work (as well as looking for a new job)
Is the financial sector dead
Many friends have told me that the financial sector is kind of "dead" in a certain sense.
Does that mean I will have to look for a job else where first?
Does that mean I will have to look for a job else where first?
The Meaning of Red Packets
Since it is Chinese New Year, the family has been in the business of giving out red packets or hong baos as the Chinese would call it.
Red packets are supposed to symbolise luck. But even now, I am not sure why do we put money inside the red packets. I guess the kids love to receive some extra cash during the new year.
But for the parents, it can be a little confusing. Questions like:
"Am i giving enough?"
"What if the other parent gives my child a bigger red packet that what I packed for their child? Will that sway them into giving a larger red packet for my child next year just to make up for the difference?"
These are tough questions. Guess i am still a newbie at giving out red packets that's why I am so confused over this chinese tradition. Of course i know it is meant to be just given out in the spirit of good luck and tradition and all.. But a certain part of me says that I need to rationalise how much I am giving out to people. I can't be giving closer relatives the same amount I am giving other distant friends right?
What's more, this red packet thing is a bit sensitive. If I give too little, will I offend someone who also gives my child a larger red packet?
What about relatives who pass to my parents ang bao meant for my child? Am i supposed to give them back ang baos in kind?
What about older cousins who are not married? Do i give them an ang bao. A bit embarrassing wouldn't it be?
Aargh.. too complicated. Perhaps I will just go on a holiday next Chinese New Year =)
Red packets are supposed to symbolise luck. But even now, I am not sure why do we put money inside the red packets. I guess the kids love to receive some extra cash during the new year.
But for the parents, it can be a little confusing. Questions like:
"Am i giving enough?"
"What if the other parent gives my child a bigger red packet that what I packed for their child? Will that sway them into giving a larger red packet for my child next year just to make up for the difference?"
These are tough questions. Guess i am still a newbie at giving out red packets that's why I am so confused over this chinese tradition. Of course i know it is meant to be just given out in the spirit of good luck and tradition and all.. But a certain part of me says that I need to rationalise how much I am giving out to people. I can't be giving closer relatives the same amount I am giving other distant friends right?
What's more, this red packet thing is a bit sensitive. If I give too little, will I offend someone who also gives my child a larger red packet?
What about relatives who pass to my parents ang bao meant for my child? Am i supposed to give them back ang baos in kind?
What about older cousins who are not married? Do i give them an ang bao. A bit embarrassing wouldn't it be?
Aargh.. too complicated. Perhaps I will just go on a holiday next Chinese New Year =)
2009 is a Dead year?
Is 2009 a dead year for Singapore? Is our goal for this year to just keep our jobs and try to stay afloat?
Got this from a forum:
1) Singapore's trade to decline by 17% to 19% in 2009.
2) Singapore's population could fall by 4% as foreign workers laid off.
3) S'pore fixed asset investments in 2009 to be lower.
4) Economy to shrink by -2% to -5% in 2009.
5) Exports nearly zero.
Hmmm.. time to re-think my job switch perhaps?
I have completed my first book for the month of January "Random Walk Down Wall Street". Will recommend that all DIY investors read it before making any other investments =)
Happy Chinese Lunar New Year to all!
Got this from a forum:
1) Singapore's trade to decline by 17% to 19% in 2009.
2) Singapore's population could fall by 4% as foreign workers laid off.
3) S'pore fixed asset investments in 2009 to be lower.
4) Economy to shrink by -2% to -5% in 2009.
5) Exports nearly zero.
Hmmm.. time to re-think my job switch perhaps?
I have completed my first book for the month of January "Random Walk Down Wall Street". Will recommend that all DIY investors read it before making any other investments =)
Happy Chinese Lunar New Year to all!
Debts Debts Debts
Recieved a few letters recently. One is from HDB and the other from DBS. Basically, my family's debt are as follows:
Car - $29,000.00
House - $253,128.00
Wow. I have debts of over $280K! How long will it take me to repay all these debt?
Work for Money or Work for Yourself
Have been too busy to write in any entries lately.
Question of the day: Work for Money or Work for Yourself (Job satisfaction)
Question of the day: Work for Money or Work for Yourself (Job satisfaction)
First Stock Purchase of 2009
I made my first stock purchase for this year.
Bought 1 lot (1000 shares) of Keppel Land @ $1.97. For the long term investment and part of my bid to increase the number of blue chip companies I am holding in my portfolio.
Over the next few months, I will be mainly buying into the various blue chips in the Singapore stock exchange while looking for opportunities to increase my passive income stock portfolio which comprises of a basket of high dividend paying stocks as well as REITs.
Bought 1 lot (1000 shares) of Keppel Land @ $1.97. For the long term investment and part of my bid to increase the number of blue chip companies I am holding in my portfolio.
Over the next few months, I will be mainly buying into the various blue chips in the Singapore stock exchange while looking for opportunities to increase my passive income stock portfolio which comprises of a basket of high dividend paying stocks as well as REITs.
New Year Resolutions
Guess it is time to pen down my new year resolutions for 2009:
1. Run the Standard Chart 42km full marathon.
2. Lose 3 kg.
3. Achieve a $400 per month passive income.
4. Pass CMFAS Module 5,9 and Health Insurance
5. Read at least one book per month:
Jan 09 - A random walk down Wall Street (still reading since Dec 08)
Feb 09 - Globalisation and its discontents
Mar 09 - The age of turbulence
Apr 09 - Capital ideas
May 09 - The World is Flat
Jun 09 - Jewish Antiquities
Jul 09 - The Intelligent Investor (thanks to patlim for the recommendation)
Aug 09 - ???
Sep 09 - ???
Oct 09 - ???
Nov 09 - ???
Dec 09 - ???
6. Send out resumes to at least 10 companies by end Feb 09
Any good books to recommend? Preferably non-fiction books =)
1. Run the Standard Chart 42km full marathon.
2. Lose 3 kg.
3. Achieve a $400 per month passive income.
4. Pass CMFAS Module 5,9 and Health Insurance
5. Read at least one book per month:
Jan 09 - A random walk down Wall Street (still reading since Dec 08)
Feb 09 - Globalisation and its discontents
Mar 09 - The age of turbulence
Apr 09 - Capital ideas
May 09 - The World is Flat
Jun 09 - Jewish Antiquities
Jul 09 - The Intelligent Investor (thanks to patlim for the recommendation)
Aug 09 - ???
Sep 09 - ???
Oct 09 - ???
Nov 09 - ???
Dec 09 - ???
6. Send out resumes to at least 10 companies by end Feb 09
Any good books to recommend? Preferably non-fiction books =)
Subscribe to:
Posts (Atom)
-
Civil servants or public officers in Singapore are expected to declare their financial standing when they first join and every year thereaft...
-
Trying to compile the salary pay scale for the Singapore civil service. Somehow, I only managed to find the figures for 2011. There are p...
-
In my previous article , I compared an endowment plan with an ILP. Many might think that an ILP is a silly way to save for my child's ed...
-
Everybody loves free stuff. So as part of the Christmas Celebrations, I am giving away MONEY! ANYONE can earn it. Just leave a comment on th...
-
Not too long ago, I wrote a post about how much to give for Chinese wedding dinners. It was pretty well received so I thought a good fo... -
Many young graduates who are seriously considering joining the civil service are likely curious to find out what is the starting pay or sala...
-
“We are more than that; we are in the business of creating time.” - Tay Liam Wee Mr Tay Liam Wee has an estimated networth of around S$135m.... -
Here are some frequently asked questions about sgfinancialfreedom: Q: How do you compute your networth? A: I compute my networth by adding m...
-
How much does a normal or average Singaporean earn? Based on median income, that is supposed to be $2,400 per month and raised to over $300...
-
Networth as of Feb 2010 is estimated around $652,000. A slight drop from Jan 2010. The decline in networth was due to a slight drop in my ...
