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Learn how to become a millionaire! DBS, OCBC & UOB FTW!

Thursday, March 23, 2023

I have been quite prolific recently as a blogger.

The month of March is coming to an end soon, and with it, 1Q 2023.

Will be talking to myself about my 1Q 2023 passive income very soon.

Before that happens, I will be taking the next few days off from blogging.

If you enjoy my blogs, not to worry. 

I have scheduled a few YouTube videos to be released on a daily basis.

So, in place of my blogs, you can still eavesdrop, literally, as I talk to myself on YouTube.

If you want timely notifications, remember to subscribe to my YouTube channel.

It is a free service.

Here, I will share two YouTube videos which I released recently.

They are both very short and do not require watching, just like all my other YouTube videos.

You only have to listen.

So, close your eyes and give them some rest.

The first video is very personal.

It is basically a glimpse into my past, and if you don't like this type of content, you can skip it.

The second one has quite a few numbers being thrown around but it really isn't that profound.

I just want to show that anyone can be a millionaire by investing for income.

Yes, if AK can do it, so can you!

Till my next blog, stiff upper lip and soldier on!

The sky is not falling!

Ticketing for "Evening with AK and friends 2023" is ongoing.


gagmewithaspoon said...

Nice! Are the content of your YouTube video recently - I heard 5% for Singapore banks. thank you

AK71 said...

Hi gagmewithaspoon,

You heard correctly.

DBS, OCBC and UOB are offering dividend yields of around 5% now.

The content is not outdated. ;)

Yv said...

Morning AK

I watched the videos and shared similar experience about how near bankruptcy in my growing up years shaped my attitude towards finance.

While it has not spurred me towards big goals like retiring at 45 with 1mil, it certainly did contribute to my aversion towards debt and borrowings, and making sure I have a sizable savings for emergency and keeping a lid on my monthly expenses.

AK71 said...

Hi Yv,

Thanks for sharing your experience. :)

Some people wonder why AK is like this and it is hard for people who have never been through what we have been through to really understand.

Like what I told EK who left a comment in my YT channel, we mentally scarred people must unite! ;p

"Thank you so much for sharing. Trauma often makes us stronger if we are resilient.
My dad had a gamble addiction, we had our electricity and water cut off. My first salary went into paying off the several thousands outstanding in utility bills.
I’m scarred - now I “hog” 24 months of emergency funds."

Sher Reen said...

Hi AK,

Thanks for the 2 YouTube videos.

Is it better to DCA using OCBC blue chips investments or POEM share builder plan?
Bear in mind with charges imposed, the nett dividend yield will be <5%

Or is it better I save monthly and use dickers to buy the 3 banks quarterly or half yearly?

Thanks again! I m sure many readers would like to know your view.

AK71 said...

Hi Sher Reen,

I think OCBC Blue Chip Investment Plan is a viable option.

If POEM Share Builder works the same way, it is viable too.

I rather like the idea of being able to put money to work on a monthly basis, if possible.

However, if we like to keep some powder dry to buy when Mr. Market is feeling depressed, shopping for a low cost stock broker is not a bad idea.

Dollar & Sense compiled a list of brokers: HERE.

gagmewithaspoon said...

Hi AK71, do you mind speaking to yourself on what we should do if we have an outstanding mortgage loan and also money in the OA? I was wondering since the mortgage rates are now above 4%, does it make sense to use whatever funds in OA to pay back the mortgage loan to lower it?

AK71 said...

Hi gagmewithaspoon,

I have a blog on the topic when interest rates were much lower:
Reduce home loan with CPF-OA.

For sure, using money in the CPF-OA to reduce an outstanding mortgage is a better idea now than it was when interest rates were very low.

We can always do a refund to our CPF-OA if interest rates were to become much lower from here in the future.

However, I would caution against being overly enthusiastic.

I would not want to use "whatever funds in OA to pay back the mortgage loan."

We really want to leave enough money in the CPF-OA to service at least 24 months of loan repayment.

This is especially for people who are gainfully employed and still in need of their earned income.

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