Author: Finance Smiths

POSB Smiley CDA and problem-solving the baby

The 1st payment of the Baby Bonus Cash Gift of $3,000 has been credited into my wife’s DBS Multiplier Account today. The next thing we did in the same day is to transfer this $3,000 into her POSB Smiley CDA. Now we wait for the Government’s matching contribution of $3,000. We are also waiting for the CDA First Step Grant of $3,000 by the Government to be credited. We finally solved the problem of my wife having to wake up a few times overnight to breastfeed the baby. The solution is the Haakaa Silicone Manual Breast Pump. While my...

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Does my wife want to continue working or stay at home?

This is one of the most interesting questions I have been asking my wife since we found out she was pregnant earlier in the year. Back then, her answer was that she would like to continue working after having the baby. We set out a roadmap for my wife to stablise her team as the manager with sufficient coverage after she leaves for maternity leave. One of our concerns was pregnancy discrimination but this didn’t prove to be an issue. Largely because my wife has been working at the same bank for a number of years and has built...

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Having issues with Smartly robo-advisor

On Thurs 14 Nov, my wife got an email from Smartly that they are undergoing some changes on their website and are halting new deposits. Hence, the deposit of $300 they received the day before could not be invested and had to be returned. This was followed by an instruction for my wife to update her bank account details on Smartly’s website under “Transfer” tab for them to initiate the return of her deposit. She logged into her Smartly account and was surprised to find out she could not provide her bank account details there. Subsequently, my wife sent...

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No CPF Investment Scheme and Margin Loan for us

This is likely to be my last daily post in this series for a while as I prepare for my return to work tomorrow. It’s been a good experience and as I spend the day resting at home today, I realised it’s time for me to head back to the office. My wife and confinement nanny have settled into a daily routine with the baby that requires less and less of my involvement. Which should be the case since they will be managing the household more now that I’m going back to work. While I enjoy the time spent...

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Using the Moments of Life App

We had another lift from my father-in-law to Orchard today morning for my wife’s follow up gynae appointment to remove the stitches from her C-section wound. We have been bringing the baby in on a car seat to carry him around for his first paediatrician appointment yesterday morning and my wife’s gynae appointment today morning. Both times, he has required feeding even though we just did a feeding before leaving the apartment. So my wife had to do feeds in the paediatrician office’s nursing room and gynae office’s CTG room. While the baby made a fuss when he was...

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Insurance planning for our baby

My father-in-law gave us a lift to Orchard this morning for our baby’s first paediatrician appointment since being discharged from the hospital last Fri 8 Nov. He’s okay so far and the next appointment is in 3 week’s time. The cost of this visit was $100 and it got me thinking about the financial coverage we have in place for the baby. Admittedly, insurance planning is not my strong suit and it’s also not my area of interest. Both my wife and I have similar insurance coverage: Corporate medical insurance for ourselves that covers the spouse Personal Integrated Shield...

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POSB Invest Saver – Nikko AM REIT ETF

As we settle into a daily routine, pockets of time in the day are opening up, which is a good thing. Overnight feeding is brutal and the baby was up every 2 hours last night to feed. The interval was 3 hours the night before and that was still sustainable but 2 hours is really tough. I can help out now with the overnight feeding being done in the bedroom since I’m still on annual leave. But my wife might have to do the overnight feeding in the living room once I go back to work. Not sure how...

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Our baby is born and everything afterwards

It’s been 1.5 weeks since my last post, which is usually normal for me since I have been posting less since the start of this year. However, a lot has happened since then. The most important thing is that our baby is born! In summary, we were told last weekend that the water level in the water bag was too low and the baby was in a breech position. So a C-section was scheduled a few days later to take the baby out to be safe even though he was slightly preterm at 36 weeks. The recovery period for...

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Decoupling or buying a new home together

I know I’m late in mentioning this but I was reading Brian’s (3Fs) post on him buying a new home with a lot of interest. It was posted last week but I found the timing interesting because my wife and I are thinking about buying a new home in the next few years. Given that we just repriced our housing loan for a lower interest rate, we will be locked in for the next 2 years. Which works for us since we might be able to squeeze into our 2 bedroom apartment with a baby for a while but...

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Repricing our housing loan and partial capital repayment

After receiving the notice from our bank that our housing loan interest rate is going up next month from Nov 2019, we started to ask around the banks for refinancing packages. We also checked with our current bank what the repricing packages are. Turns out the latter works out better for us. We are in the process of signing the Letter of Offer with our current bank to reprice the housing loan. The interest rate will drop by about 0.5% once it has been processed. In addition to paying the repricing fee, we will also be making a partial...

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Another increase in housing loan rate and life update

This is starting to annoy me. There will be another slight increase in our housing loan interest rate from next month Nov 2019 onwards. Not as big as the one back in Mar 2019. But we would still be paying a slightly higher home loan monthly instalment amount. Just the last thing I need as we prepare for our child’s arrival. I’m just realising how expensive having kid(s) can be. And I’m only at the maternity costs and preparation for kid’s arrival stage. I can only imagine our expenses climbing once the kid is here. Which brings me to...

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StashAway SG Income Portfolio and adjusting our asset allocation

I got the email a few days ago about the StashAway SG Income Portfolio that people have been writing about online. While we are big supporters of StashAway as a Singapore robo-advisor choice, this SG Income Portfolio does not appeal to us at this stage. However, it might be more suitable for other people so you never know. These are the reasons why we are not considering the StashAway SG Income Portfolio. The minimum account balance is S$10,000 and this can be quite a lot to invest with from the beginning at one time. Especially when the equity markets...

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Slowing total asset and net worth growth

It was a matter of time before this happened. A drop in the equity markets due to trade war fears (despite our automated and manual monthly investments) translated into a lower investment portfolio value. As a result, the growth in our total asset and net worth for Aug 2019 was less than half that of Jul 2019. It’s tempting for us to find a way to increase our total monthly income to make up for it. Either by investing more to generate a higher dividend income or by doing a side gig to make some extra money. For the...

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