Ever since the CPFB introduced a colorful pie chart of our CPF savings a few years ago, I would look forward to mine every year like a teena...
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As for the latest 6 months T-bill auction results, not too bad.
The cut-off yield is 3.85% per annum.
Still don't understand why some people are bidding below 2% per annum which we can gather from an average yield of 2.88% per annum in the auction results.
I stop face palming liao.
Give up.
My non-competitive bid was 100% filled, fortunately.
Waiting for the next 6 months T-bill as I keep my T-bill ladder intact.
While watching some YouTube videos regarding the economy, a video titled "Are All Singaporeans Rich?" popped up in the right sidebar.
I am usually not interested in videos like this but since I blogged about Singaporeans being obsessed with salaries not too long ago, I decided to give it a go.
Fortunately, the video had timestamps which allowed me to watch the segments I was more interested in.
It is interesting to see that the people interviewed in the streets of Singapore mostly agreed that everything was expensive in Singapore.
Most of them had earned income of $5K a month or more.
Personally, I think I can be quite comfortable with a salary of $5K a month today.
Apart from cars and private housing, I don't think Singapore is expensive.
Why do many Singaporeans think that a salary of $5K a month is insufficient?
Watching the video produced so many "Alamak, AK!" moments.
Someone said he would buy lattes regularly, paying $8 a cup!
Then, there is pubbing on weekends and taking taxis!
(OK, as a ComfortDelgro shareholder, I think taking taxis is a good idea. Please continue.)
Then, some talk about fine dining and how expensive wine is in Singapore!
Hey, we have choices.
If we overpay for coffee and if we choose to take taxis instead of buses and trains, of course, it would lead to a higher cost of living.
If we choose to get our nutrition in fancy restaurants, definitely, it would be costlier.
Such a lifestyle in any country would be more expensive than more humble alternatives in the same country.
Am I right to say that?
So easy to blame others for bad results even when it was our choices that led to those results.
Don't say Singapore is expensive when we make expensive choices.
Wake up.
A lady said that she had to work harder to earn more money.
I don't think that is a bad thing per se.
If she worked harder and put some of the money to work in order to generate passive income, her financial health can only improve over time.
If we do the right things, we don't have to worry too much about our financial future.
If I were 30 years old today and drew a salary of $5K a month, if I were truly prudent, I could probably save 50% of that money each month.
If I were to invest $2K per month in good income generating businesses, with a dividend yield of say 4% to 5%, I would be able to generate a few thousand dollars per year in passive income by the end of the third year.
Yes, it would take only 3 years to see meaningful results!
Over time, if we make more money, we could put more money to work if we stay financially prudent.
I remind myself that it is not how much money we make but how much money we save that will tell us if we are growing richer.
Then, be a pragmatic and patient investor for income and we can only become richer.
Not all Singaporeans are rich but all Singaporeans can be richer.
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