New year's resolutions to impact your financial security.

There are two points to note in this reply I made to a reader:

"Well, in your case, with $157K in the SA, at age 53, 10 years from now, even without another contribution, the money in the SA will grow to be at least $236K. I say "at least" because I have not taken into consideration the additional 1% interest for the first $40K.

"$236K in your SA at age 53 and without any risk. Sounds good? ;)

"... Yes, it is harder for older workers (to rejoin the workforce). This is also why I said during a discussion in FB that a bigger emergency fund is necessary as we grow older."

The two points are:

1. Help the government to help us meet the CPF minimum sum. Beef up our CPF-SA as soon as possible and let time and the government do the rest for us.

2. The size of our emergency funds should not be static. Depending on our financial commitments and depending on our age, we should make adjustments to reflect new realities. The number of dependents we have and our age are important considerations.





Point 1 has worked out well for me but, of course, past results are not a guarantee of future performance, as some readers have pointed out. 

Point 2 is something I am always mindful of and I keep an emergency fund that is enough to cover 24 months of routine expenses.

With the new year just round the corner, giving some serious thought to these two points could be great new year's resolutions and greater still if some decisive action should be taken.

Related posts:
1. Get a lifetime income of >$2K a month (from age 65).
2. Emergency fund: How much is enough?

Helping more people discover a path to financial freedom.

A couple of years ago, ASSI squeezed into the ranks of the top 1,000 websites and blogs in Singapore. Today, we managed to squeeze into the top 1,000 again after dropping out for 2 years.

Yeah!

With many more websites and blogs in Singapore as time goes by, I have no doubt that being in the top 1,000 again is only possible because my blog's readers are quietly spreading the word and helping to increase readership numbers. ASSI is also very fortunate to have very good guest bloggers who contribute high quality articles which help to enrich the space.

All of you are the other half of ASSI. So, thanks very much for making ASSI the vibrant blog it is today and for spreading the word that financial freedom is not just a dream.

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Related posts:
1. Top 1,000 websites in Singapore. (2012)
2. Be ambassadors of financial freedom.
"Even if the horse would not drink, at least try our best to bring the horse to water. We could be saving more than one life if the horse eventually drinks."