Cory Diary : Singapore Tax Rate to Taiwan

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Two things cannot escape in life. Death and Taxes. How do we compare with other countries in taxes ? Since i do not have more in-depth knowledge of most, I will do a rough estimate between Taiwan and Singapore. Taiwan has a model kind of similar to some western countries in concept. In Taiwan, the medical and other benefits portion are funded separately and not part of the annual income tax. … [Read more...]

GMGH Insurance Review 2017

I did an insurance review just last year in Oct 2016, but I recently made some changes so I thought I'd just share that with anyone who is interested.Change 1: Addition of standalone Early CI / CI planIn November, I was pondering about early CI coverage. My main concern is how that my only current coverage is a rider of a group insurance policy. After weighing the pros and cons, I decided to … [Read more...]

The best insurance in life revisited.

Reader: I like your view on how to see term insurance as paying a sum of money for the protection from the accidents in life. Also how passive income is an alternative to paying for disability insurance.  I like to seek your views, since it take time to build up passive income, would u view buying disability insurance as an temporary expense before we reach our passive income targets? CPF … [Read more...]

Choosing a primary school for your child.

Reader: i need your self talk about my situation. My only child, a girl, will be P3 next year, likely she will have a chance to attend the good primary school like RGPS or NYPS...after GEP selection by the end next year. However she feels dizzy whenever sitting inside a public bus or school bus... from my home BTO to these schools takes 1 hour by bus and i don't wish to own a car due to not … [Read more...]

Lollapalooza Tendency – Mother Of All Psychology Tendencies/Biases

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As per my earlier post, I am currently reading the book entitled Charlie Munger : The Complete Investor, by Tren Griffin (click here to see more). While I am still half way through the book but there is one psychology bias or tendency that caught my eye, and it's called : Lollapalooza Tendency. The reason it caught my eye is because the word seems exotic and odd sounding! :-) And when I googled … [Read more...]

Reflection of my income streams and investment portfolio

I have a big roadmap of where my different income streams will be. For the past 8 years, I have been developing them. It is with this belief that will support my end goal of living a life that is contractually free, a 10 years plan in place. This post shall be a brief of where I am now and where I wish to be. By sharing, I hope to inspire everyone around me. My Day Job I have been … [Read more...]

The evolution of needs and wants

My baby is slightly more than 3 months old now, and I learnt a lot from the experience of being a first time father. One of the first things I get to observe is how the needs and wants of the child develops as he gets older. When my son is less than 1 month old, the term 'needs' and 'wants' are interchangeable. You can even say that the needs and wants are indistinguishable from one another. … [Read more...]

Free money from the government is good.

Reader: I don't know if this is the correct avenue to ask you a question. I'm hoping that you can give your insights if you're faced with this situation. I bought a HDB flat and took a bank loan plus used a bit of my OA to pay for it. I have about $240k of bank loan left and now I 'owe' my OA $85k. Since the market is kinda 'overvalued' now, so nothing to invest in. What would you do if … [Read more...]

The Big Three: Food, Housing & Transport Costs

We have averaged about $50,000 worth of annual expenditure for the past few years. Even though I have set a budget of $42,000 early this year for 2017, the likelihood of us achieving it is really quite low. With plenty of luxuries like travel, dining out and buying new clothes, a $50,000 budget was always much more realistic and reasonable. But that said, if our incomes were to drop off a cliff … [Read more...]

Retirement Planning: What You Need to Know About CPF Top Up

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CPF Life is crucial to every Singaporean’s retirement planning. There are people who protested and demanded the government to “Return Our CPF”, but there are also many people who have good faith in our national pension system and want to top up more into CPF for their own retirement planning. What are the benefits of topping up CPF, how much more can you top up? This article will give you the … [Read more...]

Borrow $100,000 to buy a car in Singapore?

Hi AK,  When I get back to Sg next year, i'm planning on getting a car (depreciating asset boohoo!) Now, on my previous car purchase, I felt i made a mistake of buying too early and had to take a full car loan. It ate up a lot of my monthly pay. So this time round, I wanted to do my sums right before diving in.  I do have enough to pay upfront for a car (eg 100k). But could you talk to … [Read more...]

Should You Pay Off Your Residential Housing Loan ASAP????

Read? More Articles Many different views if you ask around and get confused with often conflicting views:Good debt or Bad debt? Housing loan is the cheapest loan in town and you don't know how to leverage on it. You are dumb! Right? So you ask Uncle8888 how? Uncle8888 always thinks that his residential home is consumption item and never was an investment instrument. All consumption … [Read more...]

JD Aftermath #5 : On Foreign Students

And I am not done ! Today I will do an article on foreign students and tomorrow I will talk about LLBs. My JD experience would not have been such a positive experience without foreign students. Older candidates tend to be minority and tends to get sidelined due to the generation gap. This makes them excellent partners with foreign students who can also be marginalised but for different … [Read more...]

Finally, a less wordy post about our biases

Thank you, dear readers, for reading my blog-posts and for letting me know what you like and dislike about them (for example, too long, too wordy). I hear you; thus, this post is succinct in answering: Why we save so little? Why evolution is to blame for our stock losses? Why we should think more about our limitations? In fact, let me delegate to chirpy Laurie Santos to answer those … [Read more...]

Smart move on your Income Tax

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8 months ago I shared about the power of Supplementary Retirement Scheme account and was recently been asked….. how good it really is. It reduces your chargeable income tax while allowing you to invest that supposedly “payable tax amount” REITS, FIXED DEPOSIT, BONDS, SHARES, SINGLE PREMIUM INSURANCE, UNIT TRUSTS Investments returns in the SRS a/c are all tax free till the date of … [Read more...]

The ultimate price review on diapers in Singapore

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After the price comparison for milk powder, I have to look at the other big expense for a baby, which is the diapers. Most parents would have close encounters with poop or urine within the first year. If you have not been through an explosive diarrhea episode, you are lucky! For families who use cloth nappy and wash them, I salute you! You totally deserve the savings because I would rather … [Read more...]

The Goal Is To Have No Goals, But To Have…

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Today's post was inspired by one chapter in Rod Judkins's book, The Art Of Creative Thinking. So, it's kind of unconventional, many people might find it illogical, which is understandable because you can't have too much logical thinking in creativity. Anyway, the point of this particular chapter of the book is discussing why people tends to over-rate the "goal setting" and its "side-effects". … [Read more...]

Baby Delivery Costs at Private Hospitals from 2011 to 2017 (TMC vs Mt Alvernia) – How Much Cash Outlay You Need?

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Last month was an extremely joyful day for our family as we have our new addition baby boy. So I decided to compile the monetary cost of bringing him to this world. Refer to my earlier post in Dec 2014 when we had our last child. Actual costs from prenatal to delivery Below is a table comparing our 3 of our kids. Variations in costs Ward Type / Days Stay * TMC room rates – click … [Read more...]

Maximize Or Optimizing Your Wealth In Your Younger Years???

Read? Hey! Are You Married With Kids? Same as the CPF Talk. Initially; the topic suggested was Maximizing CPF For Your Retirement when he was first approached to participate in the talk. If it is aboutMaximizing; then don't find him. LOL! So do you want to maximize or optimize your wealth in younger years by monetizing all your available free time? Any time lost in your younger years can … [Read more...]

Eight Months After Retiring From Full-time Employee. What Has Really Changed???

Read? Six Months After Not Doing Anything To Increase GDP As Jobless Man! Saving money vs. Saving time Unlce8888 has initially planned for Taiwan Round 4 in March 2017; but it was cancelled due to his Hernia operations in March so he postponed to August to visit Cairns and avoiding Taiwan due to Typhoon season beginning in August. Flight fare to Cairns Australia is more costly as compared … [Read more...]