One way to save money more rapidly.

People who know me are often amazed by how quickly I am able to save money. Well, it isn't a mystery, really.

One of the things I avoid doing is dining in restaurants. How much does a meal cost in Paradise Inn or Din Tai Fung, for examples?

This doesn't mean that I don't dine in restaurants but I do it sparingly. Some might remember my fortnightly visits to Soup Restaurant, partly because I was a shareholder. Anyway, I have stopped visiting them for many moons now as I feel that the standard has dropped.

If we go to restaurants frequently, reducing the frequency meaningfully could see quite a bit of savings every month. See related post number 1 at the end of this blog post to read a family man's experience.

Feeling hungry? Just go to Old Chang Kee to get a curry puff. Doesn't cost an arm and a leg. On other days, just have simple meals at home. Sandwiches and oatmeal are easy to prepare. Porridge and noodles too.

This was what I had tonight:

Choy sum.

Chopped and rinsed.

Time for a hot water bath.

Add some fried ikan bilis and ginger. Looks good, tastes good!

Mustn't forget to have a fruit.

Home baked chocolate chip cookie, thanks to my sis.

Avoid going to restaurants and we could save money more quickly. Feed our wallets! Burp!

Related posts:
1. How to have a comfortable retirement?
"His family used to dine in restaurants every Sunday. This is now reduced to only once a month. This helps him save more than $200 each month."
2. Rich gets richer. Poor gets poorer.
"只要功夫深，铁杆磨成针."
3. If we are not rich, don't act rich.
"Now, this may sound jaded as I have said it before many times and that is we should run our lives like we would run a business!"

A tale of two Keppels: Win, lose or draw?

Keppel Corporation is going to try to take Keppel Land private. This news came shortly after Keppel Corporation declared a generous dividend per share of 36c.

If I were a shareholder of Keppel Corporation's, I would have been elated and, then, worried by the recent string of events.

The following is taken from the comments section of my blog:

When I was asked in the last few months why did I choose to invest in SembCorp Industries instead of Keppel Corporation since both of them are blue chips in the O&M category, I said that I felt better about the former's utilities business in the current environment than the latter's real estate business. Although this latest development involves Keppel Corporation's real estate arm, quite honestly, I could never have seen this form of corporate action coming. I am just a frog in a well, after all.

Paying $4.60 a share (eventually), Keppel Corporation is not getting Keppel Land at a discount to NAV since Keppel Land's NAV/share is about there. In fact, it is going to be at a slight premium. So, there is nothing for Keppel Corporation's shareholders to rejoice about. At least, if the purchase was going to be at a discount, it might make Keppel Corporation's resulting weaker balance sheet easier to swallow.

For Keppel Corporation's action to make sense, it has to be because the management feel that Keppel Land will add value either in terms of income generation or capital appreciation in the years to come. However, near term prospects are challenging as Keppel Land is still mostly dependent on income from real estate development (property trading) although they have increased the size of their recurring income stream in recent times.

Could we see Keppel Corporation's stock price weakening next week? With a 36c dividend dangling, Mr. Market might close an eye to the eventual weaker balance sheet, for now.

Related post:
SembCorp Industries and SembCorp Marine.

Hickory dickory dock, AK just bought a clock!

I don't like wall clocks not because they are not pleasing to the eye. I just don't like knocking nails into walls. So, in my apartment, you will see only desk clocks. The problem with the ones I have is that they are quite small and hard for me to see unless I am quite close to them.

So, I decided that I should get a bigger clock, one that I could tell time with easily from anywhere in the living room.

They are hard to find and the few I saw are all so expensive. Their prices are from $59 to $139. Their faces weren't very big either. They were, maybe, 6cm to 8cm across. OK, maybe, I am used to paying $2.00 for a clock but, to be fair, those were tiny with faces 3cm or so across.

Anyway, I decided to just wait and see if I could find a less expensive one in future. No hurry, I told myself. Well, guess what. My patience was recently rewarded:

I found this in an old and dusty looking watch repair shop which has lots of old watches and clocks. It has a white face which is about 13cm across with black hands and numbers. Price? $29.00. Not bad.

It is actually a working alarm clock too! OK, I know. Duh... Aiyoh, humour me lah. A wall clock wouldn't have that function, right?

Clock looks happy sitting next to my new 40" FHD LED TV.

There is also a story about the TV which I paid very little for a couple of months ago but I will leave that story for another time, maybe.

Related post:
Another personal story of frugality.

SembCorp Industries and SembCorp Marine: Recovery?

Here are a couple of interesting chart formations:

SCI. A long white candle formed on a high volume day.
It could be a double bottom formation.
The MACD has formed a higher low.
Neckline approximates $4.50
If that should break, eventual target is provided by the declining 200d MA (the light blue line) which is approximating $5.00 now.

SMM. Another long white candle formed on a high volume day.
Looks like it could be a double bottom formation too.
The MACD has formed a higher low.
Neckline approximates $3.30.
If that should break, the declining 200d MA is the eventual target.
Currently, the 200d MA approximates $3.70.

Based on TA, SCI and SMM look promising.

CPF: A simple case of so near and yet so far?

My reply to a comment by a reader: here.




Hi politicalwritings,

When something is significant enough, such as retirement planning, I think for the government to have an active hand is a good thing and, for some of us, it is a necessity so that the risk of growing old and destitute is reduced, if not eliminated. 

Of course, not everyone agrees.

Unfortunately, it is difficult to pinpoint who are the financially responsible ones and who are not amongst CPF members. 

So, a minimum safety net that covers everyone works. It helps to ensure basic retirement funding for everyone.




What we eat and how much we eat is not of the same level of significance as whether we would be able to achieve retirement adequacy. 

So, I don't think the example you used is appropriate.

When should we have government intervention?

When we cannot reasonably rely on everyone to act responsibly on a matter that has tremendous importance in everyone's lives, especially if irresponsible behaviour would result in the burden being shifted from such individuals to the rest of society.

Best wishes,
AK



This is something I feel strongly about. So, I decided to blog about it instead of just replying in the comments section.

Talking ever so loudly to myself here. Tsk, tsk.

AK, you are so boorish (and psychotic)!

Related post:
CPF Life.

Lump sum CPF withdrawal suggestion by NTUC is myopic.

I am very disturbed by NTUC's suggestion to let CPF members "withdraw a lump sum - of at least 20 per cent of the balances - from their retirement accounts, even if they do not meet the Minimum Sum." Reference: Today Online.

In an open letter to PM Lee on 11 June 2014, I made 3 points. One of these was to allow members with genuine needs to "micro-tap" their CPF savings (presumably from age 55 to 64). A lump sum withdrawal of at least 20% is not micro at all and I am very worried that the suggestion says "at least 20%" which means that the percentage could be higher.

Although certainly not always the case, I am sure that many CPF members who are not able to meet the minimum sum at age 55 are not financially savvy. I am not sure that letting them withdraw a bigger lump sum (even with financial counselling) is the way to do it. Once the money is gone, it is gone.

A much smaller sum that is left in the CPF-RA as a result would mean a much smaller monthly income from CPF Life from age 65. How does this help the affected members' retirement adequacy?

So, I am against this suggestion by NTUC although I would like to see more compassion and understanding in the system.

What would I suggest then?

Like I suggested before, a micro tapping of CPF-RA savings from age 55 could be considered. The actual mechanics would, of course, need more thought.

Perhaps, a withdrawal rate of 2% per annum from age 55 to 64 could be allowed. If a member did not take advantage of this allowance in the first 5 years, he would be allowed to micro-tap up to 12% of his CPF-RA savings in the 6th year if there is a need to. Of course, in the first 5 years, the money that was not withdrawn would have earned some interest (compounding at 4% a year).

This would give money in the CPF-RA a better chance (i.e. more time) to accumulate so that there would be more money to be given out on a monthly basis from CPF Life from age 65.

Although we want to be understanding and compassionate, we should not give in so much as to compromise on a CPF member's retirement funding adequacy.

Related post:
An(other) open letter to the Prime Minister.

Be richer, save money by having yummy and frugal dinners.

Decided to have an early dinner today!

Yes, rice! Healthier than bread, I am sure.

Once the pot came to a boil, I turned off the heat.

20 minutes later, the porridge was ready!

While waiting for the porridge to cook, I had a fruit.
I bought 10 of these for $3.65.

Surprise! Some of you keep saying I don't take enough vegetables.
I hear you loud and clear. I got some vegetables. Washed!

Added some salt to boiling water and gave the greens a hot bath.

Really like the bright green color.
I added some pork floss to make the dish more interesting.

Yummy dinner. Quite cheap too, I am willing to bet.

Related posts:

1. A simple meal.

2. Have an extra $1,200 a year.

3. Be $48,000 to $60,000 richer in 10 years.

Value for money: Rolexes snapped up in Singapore.

"Rolexes flew off the shelves over the weekend after the Swiss franc's surprise appreciation last Thursday sent Singapore's luxury watch enthusiasts on a buying spree before retailers adjust their price tags."
Source: The Straits Times.

Today, a fellow blogger sent me a message:

"I read today that pple are rushing to buy Rolex and other Swiss watches, from a value point do u think it is worth to buy now?"

To be quite honest, the thought of buying a Rolex or two crossed my mind too after reading the news regarding the Swiss Franc last week.

I thought about it a bit more and decided that although the prices of brand new Swiss made watches are certainly going to be higher in future, I would be silly to lock up money in what is a consumption item that is likely to depreciate in value over time even though I might have a margin of safety buying at the pre-adjusted prices. I am very sure, therefore, that it won't be an investment.

Depreciate in value? Don't believe me? Go to shops that sell pre-owned Rolex and other atas Swiss watches to take a look. Most people have relatively short memories but we might want to be reminded that, during bad times, we might even be spoilt for choice in these shops.

Well, it seems that many people disagree with me, going by the newspaper report today. Mr. Market is always right. So, AK is the silly one.

Anyway, my reply:

"Watches are consumption items. We can buy pre-owned Rolex and other Swiss made watches at a fraction of what they would cost brand new.

"I know some people say that luxury watches are investments. Well, I believe that some luxury watches can be investments. These could be highly sought after limited production pieces from very exclusive brands.

"It is not a subject that I have the time or inclination to learn more about. So, I am quite happy to stick to what I know which is that given a choice, I would rather hoard gold and silver than luxury watches."

Since I am not an expert on the subject, I have "invited" an expert to give us his view:

"The Swiss watch market is especially sensitive to economic depressions, and finds itself always having to aim where new money is. This is because high-end wrist watches for the most part are a poor economic investment. You should buy them because you love them, because they are beautiful, and because you want to wear them. Not because you think they will hold or increase in value.

"As a professional talking head on watches I often get asked about investing in watches for profit. The idea that you’ll buy a watch and wait until it increases in value doesn’t made for good sense. Plus, historically it doesn’t happen often even with extremely rare watches. Of course this is not the universally the case, but if I was your investment adviser, I would say stick with watches for wearing not anticipating." Ariel Adams in Forbes. 

Have you bought your Rolex yet?

Related post:
My vintage Rolex.

Saving time, money and my backside but lost face?

In the ongoing saga of the holey backside, I decided to improve the living conditions for my nether regions by addressing the drafty environment through a patch.

Very happy! 

My sister has saved me time and money with her handiwork. 

Thanks, sis!





To be quite honest, one of the things I dislike shopping for the most are pants. 

Very troublesome. 

So, when I find some that I like, I would usually buy at least 2 pairs and hope that they last many years.





A friend who saw my blog post on the hole in my backside couldn't resist giving me a call and he said (not in the exact words):

"OMG! You are the only person I know who actually wears out his clothes to the point of having holes in them! And you actually blog about them? Don't you think it is embarrassing?"

I am so sorry. I didn't know I am supposed to be embarrassed. 





I feel so embarrassed now. 

Thanks for taking the trouble to inform me.
---------------------------
Added on 5 May 2016:

Be frugal! Save money, patch it!

I support the Singapore Police Force's austerity drive (no pun intended)! 





Related posts:
1. An essential habit to becoming richer.
2. What to do when you have a hole in your backside?

We might stay apart but my mom is a big part of my life.

I like noodles. I have been told that they are not as healthy an option compared to rice but that cannot stop me from liking them.

Anyway, I use the healthier version of instant noodles these days, the non-fried instant noodles from KOKA. They are pretty inexpensive actually. They come in transparent plastic packets and don't come with any seasoning at all.

I asked my mom to fry some Ikan Bilis and ginger for me so that I could add them to my noodles for flavour. She gave two full containers to me!

I also have some Ikan Bilis stock cubes with no MSG nor artificial preservatives. They also have less salt than other stock cubes available.

Voila, a simple meal that is filling, flavorful and friendly to my wallet.

Oh, mustn't forget to have a fruit:

Ho, ho, ho! Burp.

My mom did the most difficult part, I believe. I don't like frying stuff. 

Made with a mother's love. Thanks, mom!

As we pursue financial freedom by building passive income streams, it is important to remember a higher purpose for doing this.

Money can always be made but family cannot be replaced.

--------------------
Update (5.35 PM)

Ordered this for breakfast from a "chye perng" store at the market to complement a plate of fried carrot cake. Trying to have more vegetables in my diet after many kind reminders from some readers:

Price: $1.50

Related post:
1. Yummy, yum, yum lunch made with love.
2. Make $3K a month? You could get a 6.6% raise!
3. Passive income: A higher purpose.