Author: Early Retirement SG

How to make decisions taking risk and cost into account

My home uses an instant water heater. I installed the water heater only in my master bedroom toilet. I was thinking about this for sometime when I was still doing my renovation. Should I install another water heater in my common bathroom? People might come over to stay and we may need another place for people to shower. ​ I remembered my insurance class in Uni. Risk is classified into a few sectors taking into account the probability vs the cost to determine the best way to handle the risk. So you can, accept the risk and cost, mitigate...

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Do not do this if you want to remain friends with someone

Have you ever lent someone money? I have. Twice in my life. The first time was $15,000 and the others was $4,000 to two different people. On both occasions, once I hit the transfer button, I regretted it immediately. I don’t know why I didn’t learn my lesson after the first occasion and I was dumb enough to do it again. Lucky for me, both returned the money to me in a reasonable enough time after I bugged them for awhile, within 2 mths. Essentially, they already had the money on hand but since the due date was not...

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There's no good excuse to be poor

I did a post close to this previously. It’s been over 3 years since that post and many things have changed. Namely… Uber/Grab has given more opportunity for many people. I’ll define this properly first. There is a difference between reason and excuse.To me, an excuse is something which used to console yourself. Example, I can’t lose weight because I can’t exercise because my back hurts. This is an excuse, cos there are other options and other exercises which you can do to lose weight.Or, I got a car because my wife is working in the far corner of the country.This is...

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Can you make a meal for $1 in Singapore?

Some of us may have read about Elon Musk and when he was young, he was reportedly able to spend $2 per day on food. So I was thinking, is something like this possible in Singapore? Cos many people are always complaining of how expensive things are and that Singapore is only for the rich. Note, I’m doing $1 per meal, not $2 per whole day. It’s probably not going to be fun to actually live like this cos the meal is going to be repetitive. I’m going to look for the cheapest way to get a good balance...

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Why the save $5 challenge is lame

Have you heard about the save $5 challenge? I’ve read about it in some articles and I’ve seen some friends who have tried it. The idea is that if you receive a $5 note, you put it in a piggy bank or whatever, to store it and at the end of the year, you open the piggy bank and voila! You got a load of savings. Sounds reasonable right? Wrong. I find it totally lame. Think about it. You receive $5, when you do your grocery shopping, although you should be using your credit card to maximize your rebates. But ok, let’s...

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Why spending money on virtual items is OK

I touched a bit on this in the previous post where, I mentioned that I found spending money on virtual items debatable. ​ ​Spending money on virtual items, such as better items or even buying an account. I find this somewhat borderline on rational and irrational. Cos although the act of playing a game has no real consequence in the real life, the player gets happiness from accomplishing something, maybe he can fight something stronger than previously, even though it’s a shortcut, he has a direct relationship with the success of his character or account. So he feels that he...

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The rest of the Irrational Entertainment Industry (Part 2 of 2)

So in my previous post, I talked about soccer as irrational entertainment, and yet a whole industry is built upon it employing millions of people.  And yet, we cannot say which forms of entertainment are worthy forms of entertainment. Who’s to say what is a good form of entertainment vs a bad form of entertainment? Let’s look at the Korean media industry. The dramas and the music.People go crazy over them. Once again, this industry has created millions of jobs, from merchandise to cosmetic surgery.(The term is actually cosmetic surgery. Cos it’s for cosmetic purposes. Plastic surgery involves inserting a...

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Why I don't watch Soccer… The Irrational Entertainment Industry (Part 1 of 2)

Many guys love soccer, or love their soccer teams. I used to watch soccer when I was younger, much younger. Now, I don’t follow any form of soccer or sports.  Ok this article is really going to look at soccer from a 3rd party point of view. It might rile up some feathers, cos many guys watch and enjoy their soccer games, and that’s all fine, you can continue to watch your soccer. It’s your choice.  You see, to me, soccer is really, 22 folks running around a field, trying to get a ball in each others’ nets. That’s it. There’s no...

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How we lost $100 unnecessarily

Running our day to day operations to optimize all the benefits of credit cards, bank accounts, promos, etc, is technical and any mistakes result in real loss of money.  I’ve set up many of our transactions to be automatic and most of the time after I set it up, I don’t think too much about it. That’s the whole point of setting up the automatic transactions, so that operations can be smooth and you can get extra income by doing nothing more after the initial set up. Even after all this, recently, I messed up some transactions. Property tax is...

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Is Ignorance Bliss?

Ok, I don’t mean total ignorance. Rather, selected ignorance. I read a lot of news and all that and I think it’s necessary to know what’s happening around the world.  The ignorance I’m talking about is, the ignorance of the wealth, or material wealth of the people around you.Someone around me bought a Rolex sometime back. The friends were like, “Oh wow, wow, I’ve always wanted a Submariner, etc etc.”One of the friends asked me, “Hey do you know XYZ bought a Rolex, wow, don’t you feel like getting one too?”​No… not really. I don’t really desire one, I mean,...

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A Walking Hobby

On Saturdays, when we wake up, we usually ask, “What’s for breakfast?” And we think, sometimes we spend 1 hour just thinking of where to go. Our usual haunts are Vivocity, Suntec City, IMM, Liang Court, City Hall, Ion Orchard area. As mentioned in previous posts, we wake up quite early and we go out and eat breakfast, walk around a bit then have lunch then go back home around 2pm or so. That means we have to park somewhere for around 5-6 hours. Sometime back, I was really concerned about parking costs. I mean, we go somewhere on...

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Do you buy herbs?

There’s no other meaning to the title. Literally, if you cook, it is likely that you will buy herbs. Rosemary, basil, oregano, ground pepper, Somehow, in Singapore, herbs are super expensive, if you go to NTUC, or Cold Storage or most supermarts, the herbs you find are the McCormick ones. Those in the red cap above. The cost of each small bottle in the picture is usually around $5+/- I used to use them sparingly when I did my fish, or steak, etc. I mean, come on, it’s 5 bucks for a small bottle. Then I chanced upon the...

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Financially Naked

How open are you with your finances with your partner?  I know of couples who don’t know about each other’s bank account. Basically total darkness. They don’t know how much each other earns, how much they have saved, how much is insured, they don’t know anything. Maybe they just contribute a fixed amount to a joint account every month for household expenses. Or they may split the bill very cleanly and everything is tracked very stringently. Then there are also couples who share everything. They put all the money in the joint account regardless of who earns more. They...

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Guided by the Entertainer App

I never thought that this would happen. I’ve written about the Entertainer app. It gives 1 for 1 promotions for a number of stuff, like food, hotels, spas, etc. We basically only use the food e-vouchers. Recently, we somehow have been lead by the Entertainer App. As in, on weekends, we ponder of where to go cos we’re pretty bored of our usual hangouts and food places. So we just look at what’s available on the Entertainer App or the Fuzzie App to determine what we do and where to eat. This surprised me, cos usually, my belief is...

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It's not surprising many couples fight over this

Money… DuhzBut is it something else? Actually, people don’t really fight over money. They fight over the prioritization of money and spending. Between couples, if the guy has more or the girl has more, there’s not really much to fight. Usually each party doesn’t try to grab the other’s money.  Money is simple. You either have it, or don’t have it. The disagreements come about during the prioritization of money.Or in simple terms, when there is a limited amount of money, how to allocate it.  For example, the wife might want to save for the future, and for their kids...

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