Attended "Evening with AK" and bought books from BetterWorldBooks?

I have been an affiliate of Better World Books for a while now because I like the idea of doing my part for the environment and also to improve literacy for underprivileged children. 

I have not been blogging about them for a while and here is a recent chat with a reader.

Reader:
I went to better world books to get my books. but i only received 2 out of 6 books i bought. to me it's ok since i got them for much cheaper than getting them new. but since u r still endorsing this website on your blog, thought u might want to know. maybe they are not as reliable since you first endorse them...

AK:
Actually, it happened to me once before.
You just have to write to them and tell them you did not receive your books and they will send you replacements.

Reader:
i did, just letting u know since u endorsed them on your blog. just a disclaimer.

AK:
They sent me a replacement and it arrived with the original book I ordered.
So, I concluded that the problem was with the shipping and not BWB.

Reader:
Yes i understand. it's tough for them since they are just the middleman. ok good to know u still hv faith in them.





AK:
Not faith or not lah.
It is just that if I have to buy a book, I rather buy it pre-owned, cheaper, good for environment and help the poor. 🙂
Charity lah. 🙂

Reader:
haha you have become my favorite Santa Claus. Real in person and giving real gifts!

AK:
We are very fortunate people. If we can help the less fortunate, why not?

The world can do with a bit more charity and I am only doing my part. 🙂

All proceeds from "Evening with AK and friends" go to helping needy students, for example.

There will be one session later this year but only one. I really lazy this year. 😞





If you are thinking of buying a book, go to related post #1 below and you will be doing more than just buying a book. You will be saving money, saving the environment and saving lives.

To everyone who has attended "Evening with AK and friends" in the past, thank you too for helping needy students.

Also, look out for the next session of "Evening with AK and friends" which is going to be the only one this year. I will blog about it once all the details are firmed up.

To those who don't know, "Evening with AK and friends" is a chit chat session. If you have high expectations of me, it is best to give it a miss. ;)

Although I want to accommodate a larger group because the tickets usually sell out very quickly, it probably isn't going to be possible. 

So, if you want to get a ticket to the event, check my blog regularly in the next few weeks and, of course, once you see the blog, fast hands fast legs.

Related posts:
1. Donate a book to the needy.
2. AK helps needy students.
3. AK gets invited by NUS

Income tax payable and donation.

We work hard to earn money and, being good citizens, those of us who earn more money give a portion of our earned income to our country.

This is why IRAS always thanked me for the contribution towards nation building but not anymore.

Many things have changed in my life. This is another change.

I like to think that I am still contributing towards nation building and although I do not get any tax breaks for donations made to National University of Singapore, I continue to make donations.

Of course, the donation is smaller in amount now.

See:
http://singaporeanstocksinvestor.blogspot.sg/2016/07/ak-gets-invited-by-national-university.html

When was the last time I paid income tax?

See:
http://singaporeanstocksinvestor.blogspot.sg/2015/03/the-lowest-income-tax-payable-in-many.html


Related post:
Double our income but not our tax.

Invitation from the National University of Singapore.

I have been making donations to NUS to help needy students for years, always making sure that my donations go to bursaries but this is the first time I am being invited to the award presentation.

Last year, I donated much more money than in previous years as I donated the proceeds from the many sessions of "Evening with AK and friends" I had last year as well.

"It is our honour to host this dinner to recognise our donors..." Professor Tan Eng Chye.

It is nice to be appreciated but I don't think I will attend the function.

Must go in office attire. 

I am so used to my comfortable shorts, t-shirt and flip flops these days.

Yes, I know.

Bad AK! Bad AK!





If we have money to invest with, we are probably more fortunate than most. 

If we can afford to help the needy, why not?

Can't donate much? 

Well, honestly, I am more impressed with a $20 donation from a regular middle income employee than a $100 donation from a multi-millionaire towkay.





If you would like to make a donation to help needy students too, please read the related post below. 

十年树木，百年树人.

"The best thing a human being can do is to help another human being know more." Charlie Munger

Related post:
Helping needy students.

Life is about many things and my time is in short supply (Some of the things I do in retirement).

I have been spending less time blogging and it will probably stay like this for a while more.

The primary reason is that I have become more introspective lately. I have been spending more time meditating, gardening and going back to doing some yoga. I have also been eating differently, following a diet which is very different from what I was used to.

Gardening is a good and inexpensive hobby. Growing plants also means that I am doing my bit for the environment. I fancy myself to be a bit of an environmentalist and recycle whatever I can. 

As with all new hobbies, learning about gardening takes up quite a bit of my time. I am learning new things all the time about plants.
I enjoy spending time in my little outdoor space with my plants. 

In the evening, it is rather calming, especially this time of the year. There is always a cool breeze and with soft lighting, it is a perfect spot for meditation. Before I knew it, I had lost an hour just sitting there. 

Rosemary seedlings.

My planter must be enchanted.

Catnip grows really well from seeds.
Seen here with a solar powered LED light from IKEA.
See: Saving $384 on solar powered LED lights.

As for my new diet, it demands much more attention from me. It is not as convenient as what I was used to. 

So, I end up having to spend more time preparing my own meals, more than before. The selection process is really a learning experience. 

It is hard to have no carbohydrate and no sugar in my diet. The best I can do is to try to have as little carbohydrate and as little sugar as possible. It is about being more careful. 

The results have been encouraging so far and I will probably blog about the initial success of my diet a bit more in a separate blog post.

Tuna, eggs and lettuce.

Oh, I should mention that I have been spending more time visiting doctors, doing check ups and stuff. It is only prudent since I am past 40. 

Frankly, there are certain health issues which probably should have been addressed years ago but I had swept them under the carpet as they were not life threatening (and I didn't want to spend the money, ahem).

For exercise, I continue to take long walks which I do usually in the evenings. I like taking in the sights on such walks. 

Today, I decided to go for a morning walk instead and there were reminders everywhere that Christmas is just round the corner.

As we count our blessings, let us not forget to bring some cheer to the less fortunate. 

Be charitable and remember that true charity does not discriminate amongst the needy.

Related posts:
1. Consider making a donation.
2. Grow a money tree.
3. Something I want to lose.

Make an altruistic investment in Singapore's future.

When I blogged about making a donation to NUS' university wide bursary program, a reader asked me, "What about NTU?"


As I make regular donations to NUS and I tell people about it when I have a chance, that was not the first time I was asked that question.


Well, honestly, I have more affinity towards NUS because I spent four years there. However, I do understand that there are needy students in NTU too.


So, in September, I decided to make a donation to NTU's bursary program to help needy Singaporean students there as well.

This is taken from NTU's website:


"The NTU, MOE, Donated and CDC/CCC University Bursary is open to Singaporean students."  Source: NTU.


Some readers might remember a rather disturbing episode that happened on my FB wall when I encouraged donations to NUS' university wide bursary program. 

By sharing the above statement from NTU, I have taken out the guesswork as to the beneficiaries of the program.

If we have the ability to be so, we should really consider being charitable and helping those in need.

Although there are exceptions, I do believe that most Singaporeans are charitable people.


There are many ways to make a donation to NTU. See options here.


There is also an option for making a donation online using a credit card: here.

AK made a $500.00 donation online.

Don't be shy to make a small donation as even $10 would go some distance to helping the needy.


In this instance, we would also be making an altruistic investment in Singapore's future.


Related post:
Making a donation to help needy students.

Should our charitable efforts not benefit foreigners?

There are causes I believe in. There are charities that I support. I also have a dream of setting up a charitable trust one day to help needy students. 

The ultimate aim is to improve the lives of the disadvantaged and their families through education. I didn't think that my efforts should benefit Singaporeans only.

In fact, we have many foreigners living amongst us who are making meaningful contributions to Singapore in many ways. We, Singaporeans, might or might not know it but we could even be calling some of them our friends.

Of course, there are bad hats, people with bad attitudes and ideas. There will always be such people. I have blogged about them. Someone from the U.K. and someone from the Philippines, for examples.

However, don't forget, some Singaporeans are bad hats too. Someone who is the namesake of a famous chocolate chip cookie brand, for example.

Many of us know that one of our more prolific hobbyist financial bloggers here in Singapore is from Indonesia and many Singaporeans follow his blog posts, I have no doubt. 

Are there anti-FTs amongst these Singaporean readers? 

Ouch. 

Yes, it should hurt.

OK, I have recently been warned to stay away from topics which are hot potatoes like this one (especially with the General Election fever running high) because there might be readers who could forget all the good I have done in almost 6 years through my blog.

Well, I can only hope that readers are more rational than that.

I am saying this earnestly.

(In case you are wondering, something that happened on Facebook today provided the catalyst for this blog post.)

Related post:
1. Another day in paradise.
2. Consider making a donation to help needy students.

Consider making a donation to help needy students.

Update: A good deed to end 2016.

--------------------------
From time to time, I would blog about how we should try to give back to society.

As I believe in the importance of education and how it would help not just an individual but also his family and future generations to have a better life, I have made yearly donations to NUS University Wide Bursaries.




This year, a significant portion of the money collected from organising "Evenings with AK and friends" and my other public appearances have found their way into the charity fund I am building.


Ultimately, I would still like to set up a foundation to help financially disadvantaged students in future but that is many years in the making. 

In the meantime, I will continue to make donations to causes which I find meaningful.

If you would like to help needy undergraduates as well, you might want to consider making a donation too.


The form can be downloaded here or you could make a donation online with a credit card here.

No amount of donation is too small. 

Every dollar counts.





In fact, I would be more impressed with a $10 donation from a regular office worker than a $50 donation from a successful millionaire business owner, for example. 

I am sure you know what I mean.

So, don't feel shy to make a small donation.






Helping to educate a person is really 功德无量 (which means "service to mankind and benefits beyond measure").

"The best thing a human being can do is to help another human being know more." - Charlie Munger

Click to enlarge.

---------------------
Received this in the mail today (31 December 2015):

An unexpected gift. A pleasant surprise.

A new pen for the new year. :)





Related posts:
1. One of the most noble things we can do.
2. Have money must also have a heart.
3. An appeal by AK71 for donations.

The lowest income tax payable in many years (YA 2015).

I just did my income tax filing for Year of Assessment 2015. 

Yes, I am always quite early, preferring to get it out of the way ASAP.

My estimated income tax payable has reached a new low.

I have shared some ways which could help us pay less income tax before and I have included the links at the end of this blog.

This year, the government, to celebrate SG50, is allowing all qualifying donations a tax deduction of 300% of the donation amounts in 2015. 

This is up from 250% in recent years.





As we journey towards financial freedom, let us not forget the less fortunate. 

Do good and pay less income tax? Why not? 

I am sure all of us can find a charitable cause that we support in 2015.

Reference:
What type of donation is tax deductible?





So, how much is my estimated income tax payable for YA 2015?

Estimated income tax payable is $772.14.

Related posts:
1. Ways to reduce income tax. (YA 2013)
2. Double your income but not your tax. (YA 2014)
3. One of the most noble things we can do.

One of the most noble things we can do.

In recent conversations, I revealed that one of the things I have been thinking of doing is to set up a foundation to help financially disadvantaged students in future.

 

In the meantime, I have been making regular donations for many years to help fund bursaries for deserving undergraduates in National University of Singapore where I spent 4 years of my life.

I believe that helping financially disadvantaged students so that they and their families will have a brighter future is one of the most noble things we can do. So, if you can afford to do so, you might want to find out more about NUS Annual Giving and how to make a donation: here.

Related posts:
1. Counting our blessings.
2. We can help to lessen the pain.
3. The world is full of nice people.

We can help to lessen the pain.

On 25 May, I put up my complimentary ticket to InvestX Congress 2014 for auction, promising that the proceeds would go to a charity of my choice. Within 2 days, I closed the auction after receiving the top bid of $99 which was equivalent to the regular price of the ticket.

Now, here is the proof that I have made a donation with the money received:

When a reader asked me on FB which charity would I be making a donation to and whether it would be to NKF, I told him I would be making a donation to KDF. It was the first time he heard of KDF despite the fact that it was set up in 1996.

KDF is a not-for-profit and independent charity to help needy kidney patients who lack funds for dialysis and also to find a cure for kidney diseases. They work together with NUS in their search for a cure for diabetes. I like the vision of a world where people no longer have to suffer from diabetes.

Learn more about KDF: www.kdf.org.sg

There are people who are forced to sell their cars and valuables due to financial hardship. There are people who suffer financial hardship but have nothing valuable to sell. For these people, if financial hardship is due to health reasons which prevent them from being gainfully employed, we should offer a helping hand, if possible.

Related posts:
1. InvestX Congress: AK's ticket is up for grabs.
2. Forced selling due to financial hardship.
3. Counting our blessings.
4. Towards better mental health.
5. Voluntary contributions to CPF.

Starbucks with Song StoneCold: Assets I believe in.

Some of you might remember Song StoneCold's first guest blog here when he had kopi with you. For this guest blog, it is not just any kopi, it is Starbucks kopi. Hope you enjoy this date with Song StoneCold while sipping your kopi latte, kopi cappuccino, kopi mocha frappe etc.:

Song StoneCold says:
Human wants (and even needs) could be unlimited but too bad the cash in my wallet is rather limited.

Last week, I had one of those days when I felt a need to splurge on everything! Stocks, limited edition Batman watch and even a Rolex. I was brought back to Earth after I checked my Big Sweep tickets at the familiar Singapore Pools website. YES! You guessed it! I contributed to Singapore Pools again.

Well, I am not a spendthrift but I am not a penny pincher either. I believe in getting VALUE, buying at a value price. I am an ardent supporter of AK's blog. 

So, before I make any purchase, I will ask myself two questions (which I picked up from a blog post by AK - see related post #2 at the end of this blog):

1. Is this necessary?

2. Is it value for money?

"Simple questions. Always ask these two questions before we buy anything and, in all likelihood, we will be saving more money in future," AK.

Well, I have an additional question that I will ask myself before I "invest" in big ticket items. I like the word "invest" as it sounds very sophisticated! LOL. Besides asking the two questions that I learned from AK, I will ask myself: "Is it an asset or is it a liability?"

As what Robert Kiyosaki said: "Asset can be anything as long as it has value, produces income or appreciates, and has a ready market. Assets put money IN your pocket. Liabilities are defined as things that decrease in value. Liabilities take money OUT of your pocket."

Well my goal is to buy more assets than liabilities. I do buy liabilities too. My car is a liability but I am glad I bought it at a VALUE price. I bought my trusty Lancer Warrior for $38K with 8 years left. For me, it is "no value, no buy" or, as what AK says, "no discount, no buy".

What I consider to be assets can also be slightly different. Besides income generating assets like dividend stocks, I also consider the following as assets:

1) Courses and seminars. I consider attending courses and seminars an asset and I quote Warren Buffett: "The most important investment you can make is in yourself.…The best asset is your own self. You can become to an enormous degree the person you want to be.

"Generally speaking, investing in yourself is the best thing you can do. Anything that improves your own talents; nobody can tax it or take it away from you. They can run up huge deficits and the dollar can become worth far less. You can have all kinds of things happen. But if you’ve got talent yourself, and you’ve maximized your talent, you’ve got a tremendous asset that can return ten-fold."

Learning a skill will increase your market value and it will eventually "put money into your pocket".

Well, I always look for courses and seminars that are of value. Expensive doesn't guarantee that it is good.

2) Charity. Giving creates a feeling of abundance. It makes you feel good and makes you feel that you have more than enough. The main purpose of charity is not to expect any return of fame or accolade. Giving is from the heart and I believe you do not have to announce to the whole world what you have done.

Well, many say that charity will bring you good karma. So effectively, I believe what goes around comes around. One fine day if we are are down, who knows, our good karma might return and tide us through a difficult time. So it may be a good "asset investment" after all.

I shall end with a Warren Buffett quote:

"If you buy things you don't need, you will soon sell things you need."

So, let's spend wisely and buy more assets and less liabilities and live happily ever after! Cheers!

Another guest blog by Song StoneCold:
Getting value out of everything!

Related posts:
1. Counting our blessings.
2. Two questions that build wealth.
3. Robert Kiyosaki: 2 are better than 1.
4. The millionaire next door.
5. Affordability and value for money.

For every $2 you donate, OCBC donates $1.

A reader kindly informed me about "OCBC-TODAY Children's Fund" because I am a regular donor to Singapore Children's Society.

This fund has an annual cap of $1.5 million. Of this, $1 million is from the public and $500,000 is from OCBC. If you would like to make a donation to help children in need, then, this is a way to magnify your donations by leveraging on the generosity of OCBC.

"Through the Fund and the programmes it supports, we hope to help as many children grow into confident and useful individuals with high self-esteem, character and discipline. Together, OCBC Bank and TODAY are committed to rebuilding children's lives."

Find out more at: https://ocbctodayfund.sg/

Related post:
The world is full of nice people.

Tea with Matthew Seah: The top 8% of the world's wealthy.

Son : Why are we not rich ?
Dad : Who says we're not rich ?
Dad :Being rich is not about how much you have , but how much you give .
Dad : Somehow when you give, you'll be happier .
Boy: *sulks, and after reflecting*, I wasn’t happy.

Watch this video:

https://www.youtube.com/watch?v=1DUYlHZsZfc

Do you feel like the boy, or the dad?

In Singapore, the circumstance is such that many live from paycheck to paycheck and have no money or worse, they are in debt. These people will be thinking like the boy.

The tax rebate on your taxable income is 2.5 times your donation for the year. This turns out to be an effective tax rate of 40%.

$1 donation / $2.5 income recognized by IRAS = 40%

Whenever you give, you are actually giving at a tax rate of 40%!

Now if you are thinking like this, you definitely won’t be happy as well.

If you can read and understand this, then count your blessings, give and be happy!

Let’s all show some beautiful display of free, gracious generosity.

Related posts:
1. Counting our blessings.
2. An appeal by AK71 for funds.
3. Ways to reduce income tax.
4. Make a donation to help needy students. 
(Added on 8 Oct 15).

The world is full of nice people.

I shared this on Facebook earlier:

As I was also filling out a donation form for Singapore Children's Society, I asked readers who are following me on Facebook to make a donation as well, if they can afford to.

See what $10, $25 or $50 can do for needy children:

Yes, just $10 can make a difference to a child's life.

Donate online at:
Singapore Children's Society.

Thank you for your kindness. :)

Related post:
An appeal by AK for funds.

Bought another book from BetterWorldBooks.

I have blogged about BetterWorldBooks a few times before and the good that they are doing. Everytime we buy a book from them, we are helping to do good for the environment and helping the needy.

Recently, I learned from a good friend how to do screen captures. Hey, don't laugh. Regular readers should know that I am not the most IT savvy person on the island.

Anyway, I bought a book from BetterWorldBooks just now and here is the screen capture:

Click to enlarge picture.

 

If you are thinking of buying a book or two, consider making the purchase from BetterWorldBooks. Buy used books, enjoy lower prices and help the environment!

"Your purchases also help fund non-profit organizations changing the world through education and literacy."

Your purchases will also enjoy free shipping worldwide.



Click on image to visit BetterWorldBooks.

Thank you.

Related post:
Donate a book to the needy!

Ways to reduce income tax.

On 8 March 2013, I blogged about how we could pay less in income tax even as we increase our income. 

So, what can we do to achieve this?





1. Invest to receive non-taxable income.

2. Start a Supplementary Retirement Scheme (SRS) account and make annual contributions to reduce taxable earned income.

3. CPF-SA Top Ups will receive income tax relief for the first $7K contributed each year.

4. Voluntary contribution to our CPF-MA will receive income tax relief.

5. Donate to charitable organisations recognised by the government and enjoy 2.5x tax deduction, if we can afford to do so.





The rather generous personal income tax rebate from the government helped me to save 30% in tax payable. 

For seniors who are still working, the rebate is 50%.

So, how much is my income tax for the Year of Assessment 2013?

S$ 1,133.23.

This is probably the lowest I have ever paid in income tax in the last 10 years. 

This is even though my total income for 2012 exceeded S$200,000.

What I have done is humanly possible. 

Compared to many big success stories in Singapore, what I have achieved is not fantastic. 

Unless disadvantaged in some way, anyone who is determined enough can do it too. 

Remember if Yan can cook, so can you?

It is 100% possible to make more money and pay less income tax and there are readers who have been following my blog since its inception who can attest to this. 





If you have experienced this for yourself, please leave a comment and share with us your story.

Of course, there are many ways to pay less income tax and, mind you, I am referring only to the legal ones. 

Nothing illegal here in ASSI. 

Read the comments contributed by readers in my earlier blog post on the topic (hyperlink provided below) and we will get some ideas.

Believe or not to believe?

Related post:
Make more money, do good and pay less income tax.