tag:blogger.com,1999:blog-7944902213075756335.post4267962586009047804..comments2024-03-28T10:39:01.047+08:00Comments on A Singaporean Stocks Investor (ASSI): Three possible ways to build our savings (Don't see money, won't spend money).AK71http://www.blogger.com/profile/16832145412062954289noreply@blogger.comBlogger11125tag:blogger.com,1999:blog-7944902213075756335.post-45914638785598108682017-11-04T09:19:08.990+08:002017-11-04T09:19:08.990+08:00betta man said...
The following is extracted from ...betta man said...<br />The following is extracted from Workforce SG facebook:<br /><br />"My retrenchment was a huge blow to me. I didn’t see it coming at all. <br /><br />"The first few days after the news, I woke up in cold sweat. I thought it was just a bad dream. After all, I was 48 years old then and I had been in the marine and offshore industry for over 20 years. I have three AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-53862955638132090742013-08-25T16:02:26.226+08:002013-08-25T16:02:26.226+08:00Hi Stoical Keynes,
Good point. :)
I have to remi...Hi Stoical Keynes,<br /><br />Good point. :)<br /><br />I have to remind readers that there is an annual limit for topping up our CPF accounts. So, for those high income earners, they might not have a chance to do any voluntary topping up. ;p<br /><br />"All CPF contributions, whether mandatory or voluntary, will form part of the CPF Annual Limit. From 2011, the CPF Annual Limit is $30,600.&AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-29522295526949876042013-08-25T14:30:49.767+08:002013-08-25T14:30:49.767+08:00I think topping up your CPF accounts will give you...I think topping up your CPF accounts will give you a more balanced asset allocation. Those monies are actually the bonds in our portfolio. <br /><br />If one is close to 55 and already have excess of the Minimum Sum, doing a voluntary contribution is pretty worth it since after 55, the monies are liquid and earning a really high interest rate compared to normal deposits.<br /><br />For me My 15HWWhttps://www.blogger.com/profile/05406638167557231093noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-56130284484822538092013-08-25T12:57:32.097+08:002013-08-25T12:57:32.097+08:00Hi Solidcore,
Well, you know cash is also an asse...Hi Solidcore,<br /><br />Well, you know cash is also an asset. So, I remind myself all the time that holding some cash is the most basic form of diversification and it is also the most liquid form. This way, I prevent myself from throwing everything into the market. Still, it is difficult. ;p<br /><br />As for my friend, well, I might not see him again in a long time. Not a close friend. I hope AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-81419265499594041152013-08-25T10:56:20.380+08:002013-08-25T10:56:20.380+08:00Hi AK,
Me too. Seeing money around tempts me into...Hi AK,<br /><br />Me too. Seeing money around tempts me into throwing it into the market. Any good books to encourage me that Cash is king? ^_^<br /><br />For your friend, perhaps you would like to encourage him to watch CNBC's Suzy Orman show for a start. Her weekly reminders of People, money then things, in that respective order of importance would certainly be something which your friend SOLIDCOREhttps://www.blogger.com/profile/10335285941501577901noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-18365020239205795542013-08-24T14:36:55.779+08:002013-08-24T14:36:55.779+08:00Hi Stoical Keynes,
Exactly. For some people, they...Hi Stoical Keynes,<br /><br />Exactly. For some people, they really need to have money locked up. If they don't see the money, they won't... er... can't spend it. ;p<br /><br />Personally, I have quite a bit of money locked up in my CPF-OA, CPF-SA and SRS account too. I am the type who might end up putting too much into investments. :(AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-41975136124284203682013-08-24T14:01:25.786+08:002013-08-24T14:01:25.786+08:00Hi AK71,
Yes, the next natural step is to possibl...Hi AK71,<br /><br />Yes, the next natural step is to possibly get him to sign up for those regular savings plan that passively invest in ETFs. POSB has one right now with pretty low fees.<br /><br />However, you are also right that some people need a pre-commitment device in order to save and he might withdraw all those investments if it grows to a substantial sum.<br /><br />Since liquidity is aMy 15HWWhttps://www.blogger.com/profile/05406638167557231093noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-52684256445948728182013-08-23T11:00:53.640+08:002013-08-23T11:00:53.640+08:00Hi Ray,
He belongs to the spending type and actua...Hi Ray,<br /><br />He belongs to the spending type and actually there are many like him around.<br /><br />For some, really, locking up money so that they cannot access it is the only way to have some long term savings.<br /><br />In this case, my suggestions will hopefully lock up some money and provide additional benefits in the process.<br /><br />Talk to him about possibly investing his moneyAK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-81261221786833293172013-08-23T10:48:26.075+08:002013-08-23T10:48:26.075+08:00somehow i dont think putting money into CPF is a g...somehow i dont think putting money into CPF is a good idea esp when he already has very little liquid savings. in case of emergency, he has no cash to turn to. CPF is too rigid and can only be tapped on when you retired. Fix Dep is also going to charge penalty if you need to take the cash out. But I guess for a person who spend all the money he can find, this may be the only way out. The best Rayhttps://www.blogger.com/profile/16883833861386039879noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-7861048652992551192013-08-22T23:00:57.394+08:002013-08-22T23:00:57.394+08:00Hi Ah John,
I hope so anyway. :)Hi Ah John,<br /><br />I hope so anyway. :)AK71https://www.blogger.com/profile/16832145412062954289noreply@blogger.comtag:blogger.com,1999:blog-7944902213075756335.post-51412483215591866382013-08-22T22:58:08.648+08:002013-08-22T22:58:08.648+08:00Good advice!Good advice!AhJohnhttps://www.blogger.com/profile/07927395374670213105noreply@blogger.com