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Happy new year!
Brand new month and brand new year!
I have been busy the entire month of December and now I have to plan my January.
I have so much to do in different worlds.
Neverwinter, World of Warships and Black Desert Online.
12 to 14 hours of time spent in virtual worlds.
Of course, I must not forget things I must do in the real world too.
January looks like it is going to be another busy month too.
Oh dear.
I wish I had 25 hours a day instead of 24.
Maybe, 26 or 27 hours would be better.
Yeah, bad AK!
So many things to do in my retirement and so little time.
Anyway, as I am growing forgetful in my old age, this blog will quickly outline the stuff I am going to do when it comes to money matters.
1. Top up my CPF MA to the new BHS.
The new BHS is $71,500 in 2024.
This is up from $68,500 in 2023.
Interest earned in my CPF MA will flow into my CPF OA since my CPF SA has already hit the FRS.
So, I will be able to do a $3,000 top up to my CPF MA this month in January.
I will do it earlier than later just in case I forget later.
2. Blog about my updated CPF balance.
My CPF balance will look very "weak" in 2024.
I published a blog last year where I reacted in "horror" that my CPF account was "hacked!"
The bulk of my CPF OA money is in a 1 year T-bill with a cut-off yield of 3.87% p.a. which is why my CPF OA balance is much lower.
That T-bill is maturing at the end of the month.
So, the money is coming back.
I must remember to transfer the money back into my CPF-OA.
3. 6 months T-bills.
I got both 6 months T-bills offered in the month of December 2023.
The cut-off yields were 3.74% p.a. and 3.73% p.a.
Not too bad.
The plan is to maintain my T-bill ladder in 2024.
The yields are still relatively attractive to me.
So, I have already made a non-competitive bid for the auction taking place on 4th January 2024.
If Mr. Market should go into a depression in 2024, it would be time to dismantle the ladder.
4. 2023 full year passive income.
I have been so busy in December that I have not been keeping up with things on the investment front.
I will have to spend some time looking at numbers to account for my passive income in 2023.
I am expecting a weaker Q4 2023 since UOB and OCBC pay dividends only twice a year in May and August.
Year on year, passive income could come in weaker as the REITs I hold are generating less income for me too.
There will be some income generated by T-bills in the portfolio but that won't move the needle much, I suspect.
Hmm.
I think that is all when it comes to money matters and blogging.
Lots of other stuff I have to do but I shan't clutter this blog post.
OK, maybe just this one thing.
I shared this screen-shot of the port of Velia in Black Desert Online in my YouTube community tab on Boxing Day.
You can see my ship docked in the extreme right of the picture.
I am working on upgrading it be like the taller and larger ship with the black sails in the center of the picture.
Work in progress and I should be able to get it in a few more days.
Makes me happy thinking about it.
Will be happier once it is done!
That is all for now.
Look out for upcoming blog posts on my CPF savings and 2023 passive income update.
I will be back!
If AK can talk to himself, so can you!
Bloggy Award
17 comments:
Happy New Year AK! Here's to good health (and wealth creation)
Hi AK
Just wondering, if I were to also top up my MA to $71,500 in Jan, but as I am still getting monthly CPF contribution, would the topup be refunded without interest as my employer/employee contribution would also flow to MA, or would it go straight to OA/SA?
Happy 2024 to u AK! Just realised the interest earned for 2023 for the MA has already been credited into the MA. Hence, can't top up the full $3k. Did u encounter this issue?
Hi Yv,
Happy new year!
I would be quite happy to simply do wealth maintenance now.
Less stressful. ;p
Hi Yv,
If we are doing voluntary contributions, then, we would have to be mindful of the CPF annual contribution limit.
This is because mandatory contributions would count towards that limit.
However, when we do top ups to our SA and MA, they are independent of that limit. :)
Hi HH,
That interest earned in 2023 by our MA savings should transfer into our SA or OA.
I haven't checked my CPF statement yet but it should be so.
Maybe, check yours again?
Hi HH,
I forgot to add that this would only be the case if we have hit the BHS in 2023.
Happy New Year AK!
We were lost without your postings. (just kidding!!!)
Plus DBS and UOB offered a short opportunity for us to accumulate for 2023!
Glad to have you back!!!
Hi AK, I just check and ok now. Hmm...strange. Anyway happy can top up! Low hanging fruit..haha
Happy new year to you ak. Any 4D number this year?
Hi shifu,
I also top-up 3k into MA to get some tax relief after the MA cap increase for the new year. Yearly affair though :)
Mrs Spoon here! So glad you are here again! I watch your videos but prefer interacting on this comment section than on YouTube! too many voices there! anyway, I am happy to say I have hit FRS for my SA and MA. Does topping up MA in Jan means that my working contributions will just flow into OA instead of SA? wondering what the benefits are?
Hi Pauline,
Happy 2024! :D
I am sure there will be many more opportunities to accumulate stocks of DBS, OCBC and UOB at lower prices. ;p
Hi HH,
Yes, if things have changed, they would have been reported in the news.
Low hanging fruits for the win! :D
Hi SgFire,
Happy 2024! :D
Asking for 4D shows you have been following my blog for too many years! ;p
Hi Netviper,
This is an affair I don't mind having for a long, long time. ;p
Hi gagmewithaspoon,
So, is there a Mr. Spoon using this same account?
If your SA has already hit or exceeded the prevailing FRS, then, any contribution meant for the MA if it has hit the BHS will flow into the OA.
In such an instance, the benefit is you managed to push another $3K into your CPF account!
Tax relief + more risk free returns. :)
Of course, this is only attractive to people who believe in the CPF system and do not think it is a PONZI scheme. ;p
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