Three attributes of a wealthy peasant.

"Basically, the more you catch, the higher your CPPF." Wait a minute! Was that a coded message? The more you top up, the higher your interest income from CPF? I anyhow guess one lah. Life can be unfair. Why am I not born into a super rich family? Why am I not born with super model good looks? Why am I a peasant? Oh, did I hear someone say it is unfair that this peasant is relatively … [Read more...]

12 Months of Savings Guide

50-cents-savings.jpg

12 Months of Savings Guide Each month brings new challenges, from the holidays and Valentine’s Day to the back-to-school shopping frenzy in late summer. So with that in mind, here are 12 ideas to help you save more and spend wisely one for every month of the year January Are you stepping into the New Year and reflecting on the spending you made on holiday presents? Pretty sure you'll be … [Read more...]

How has this investment of mine perform?

In January last year, I deposited a good amount of monies in a one-year fixed deposit of a bank offering interest rate of close to 2%. That was at a time when banks were dangling carrots of higher interest rates to retail savers. A year now, from what I have been reading, the fixed-term interests have not been as appealing as those a year ago. Overall, though the interest earned from my fixed … [Read more...]

Why lazy people "want" to continue working?

(I salute Tan Hock and Wilson Poh.) An exchange with another blogger. Blogger: Just thought I'd share this since many investment bloggers (whose plans, like mine and yours) are to live off investments; Not sure if it's because a significant number do not understand the trade-offs involved nor the aspirations of passive investors, but it is a poorly conceived notion that living off … [Read more...]

Holistic approach to a secure financial future.

(Decide how much income you will get from anasset and pay a fair price for that.) I am always happiest reading happy stories. I mean who wouldn't be? OK, if you need a reason, well, they are easier for me to reply to compared to sad stories. LOL. It is true that happy stories are easier to reply to and that makes me happy but I am happiest with happy stories because they are an affirmation of … [Read more...]

Average income workers have a choice to be rich!

I went out to lunch with my mom before sending her to the hospital. I went to a supermarket nearby to buy some chocolate which was on special offer before going to a bank to enjoy a cup of tea while waiting for her to call when she was done. I like buying things at knocked down prices (i.e. the chocolate) and I like free (i.e. the tea). Anyway, there was a big screen TV right in front of me … [Read more...]

8 Investments To Beat The Time and Money Paradox

Time and Money Paradox Time flies. Do you remember playing soccer with your primary school friends like it was yesterday? Do you also recall the crazy DOTA and CS late night gaming sessions with your buddies? Somewhere during the phase of my life called “growing up,” I was told to study hard so I can eventually be “somebody.” According to the Father-Mother-Dictionary.com, the definition of … [Read more...]

AK showing off his CPF-SA numbers again?

(4 things you need to know about your new CPF statement.) I hope my blog has not caused too much trouble for the authorities. Just like my passive income numbers, my CPF-SA numbers seem to have garnered a following as readers reminded me on Facebook that it is time. Even Facebook reminded me that it is time. I guess sharing my CPF-SA numbers is inspiring to many readers and it helps them to … [Read more...]

1 year closer to financial independence – great 2016, awesome 2017?

2016 will be a critical year in my life as I began to take a more active approach to achieving my financial goals. Let's evaluate how I fare and set new goals for 2017. Income - Evaluating my source of money Total income (after CPF deduction) for 2016 is broken down into 4 main categories: Salary - 67.4% Bonus - 30.5% Benefits - 0.9% Others - 1.1% Benefits are subsidies which I … [Read more...]

Power to become financially stronger is within us.

Although there were not many comments in my blog when I asked if I should continue talking to myself in 2017, I received many emails and also messages in FB. They are all positive (so far). I am particularly touched by a couple of emails. First, this email from a reader of modest means: Hi AK, As the new start of the year, first thing I want to do is to write this thank you note to … [Read more...]

STAR WARS AND FINANCIAL FREEDOM IN 2017!

A reader made a droll statement on FB and I decided to share some quotations from my favourite Science Fiction movie on the first day of 2017: Related post #1. There are many who do not believe in delayed gratification and the power it has to improve our financial health: I find your lack of faith disturbing. Related post #2. For those of us who believe that saving more and investing in … [Read more...]

5 Life Lessons Learnt From 5 Years of Business

5 years ago, I quit my job to head-dive into the world of business.  The director of my company discouraged me and told me that if he knew how hard business was, he would have never done it.  Upon hearing that, I got even more excited. “BRING IT.” That was the only thought in my mind. Few years later, I remembered those words.  And boy was I struggling.  But hear me out, there’s a light … [Read more...]

A Christmas Gift From POSB

My-First-Love-hd-wallpaper.jpg

Despite the long queues at POSB ATMs, I will always have a soft spot for this heartlanders’ bank. At least for the first 20 years of my life, this was the only bank I transacted with and it was there when I saved my first $1, $10, $100 and then $1,000. Therefore, I am not surprised by my favourable review in the past and even right now, it continues to benefit me even when I have long … [Read more...]

Copying Your Way To Riches

Many things we do in life aren’t really new. According to Havard Business Review (HBR), some of the most successful businesses such as GoogleCloud Storage, and DropBox are imitations of each other. Rather than harping on coming up with an entirely new idea, maybe, the best way to make financial progress is to simply copy successful people. A great example is building passive income. To get from … [Read more...]

Mentally and financially prepared for retrenchment.

This is part of an email a reader wrote to me after reading an updated blog post. (They invested in multiple properties and are now retrenched.) Reader: "Their experience is getting more common. I am in my late 50s and I see many friends and relatives in my age group being asked to go. I am sure it will be my turn soon as the company has not been doing well.  "I have been reading your … [Read more...]

They chose financial independence over home ownership.

This is somewhat extreme but watch how this Canadian couple chose financial independence over home ownership. They are in their 30s and, well, they are retired. If we qualified for a BTO HDB 5 room flat which costs, maybe, $500,000 today, why do we need to buy a condominium which costs $1.5 million, for example? If we didn't need so much living space, would a BTO HDB 3 room flat in Choa Chu … [Read more...]

Have you decided yet?

fork-in-the-road.jpg

This post is for you.  Yes, you, who sent me that e-mail yesterday asking me whether it would be a good timing to start investing in the stock market right now. I understood from your mail that you have not started to invest anything in the stock market.  All savings are in FD and you are – figuratively spoken – sitting on the fence waiting to deploy your savings into the “risky stock market” … [Read more...]

My girlfriend is more than US$100K in debt!

Human beings are rarely solitary. Although in modern societies with very high cost of living like ours, fewer people are thinking of getting married unless they want children (but, in Singapore, people who don't want to have children will still get married just to get a BTO HDB flat) and fewer who are married are staying married, many still need companionship in life. Realistically, once we … [Read more...]

Not giving in can only make us richer.

Although we like to say we have saved money when we buy something at a sale, the truth is if we spent money at a sale, we did not save money, we just spent less money. Happily, this reader didn't spend less money, he saved some money. Hi AK, Thanks to you ! I have just cancelled my 3 orders brought from Amazon's Black Friday. (around 350 USD) Upon re-reading one of your blogs again, I … [Read more...]

Audio books on saving and investing money.

I receive many emails each week. Unlike my early days in blogging, I might not reply to all of them although I still try. Believe it or not, I also receive emails in Chinese. My proficiency in Chinese has never been high. The best grade I received was a B3. Not bad but not good either. Unfortunately for me, emails in Chinese are the second most common after emails in English and they are … [Read more...]