Subscription model makes me spend more

Any (willing) victims of subscription model? It’s an opex model that makes the entire quantum look like a good deal spread over x year(s).

In our context, unknowingly we have added Disney plus recently to the family of paid subscription. BTW side track a little, WandaVision is a waste of sleeping hours.

A family of 2 with 24 hours of time daily have YouTube premium, Netflix, Viu, and SingTel mioTV. Woah, that’s quite a lot of money adding up to approx 80 bucks per month. The only justification is this is the only entertainment we have thesedays.

We are likely to let go SingTel MioTV when the contract end this November 7th.

Breakdown:

YouTube premium – S$17.98 per mth family plan

Netflix – S$15.98 per mth (standard plan)

Viu – promo 12 months approx S$50

Mio TV – S$29.72 before GST monthly

Disney plus – S$11.98 per month

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What’s a dollar worth in ten years time?

I love flowers so it’s a natural to be drawn to them when they are parked at the cold storage entrance.

Glanced at the price tag – 5 stalks of rose for 13 bucks, 10 years back it was 8 stalks for 8 bucks. Woah, thank God I don’t have such expensive hobby.

Leaving money in a bank is a blasphemy. Work for the money or let money work for me…

Living a FI

Was drawn to this lean fire blog post via investmentmoats.com, a lengthy read however worth the time.

I believe everything happens for a reason, the bad happen so one can be ready for the good and vice versa. Life is not a linear path with predictability (sounds like the stock market, isn’t it?)

Choosing the right spouse (not the materialistic parameters) with the similar value is of upmost importance despite the outward parameters that will likely change with time.

Without the early retirement, I guess the author would have not known the incompatibility. The silver lining from the breakup is a blessing in disguise tho it really hurt.

Humans are probably brainwashed to live a certain lifestyle and hit milestones as we grow.

We focus so much on keeping up with people who are of no importance to our lives. Living truthful to oneself is a challenge with the society’s skewed lenses.

It’s a reminder to self, to look within not external. Things, money and appearance will go with time, not real connections build with people that matters, financial freedom and that inner peace.

There is a lot of noise and distractions in the world, the awareness plus consciousness to reflect and stay anchored to the right values is crucial.

Life is about having the serenity to accept what I can’t change and wisdom to change what I can.

Cpf giro – topup SA voluntarily

It’s quite an experience doing the sa top up to CPF via giro route, have applied on 1st Jan 2021, bank approved giro application somewhere in 6 Feb, was informed deduction take place on 15 March after which it takes 7 working days to reflect the top up amount in CPF balance.

I was then told the subsequent years it would be in 15 March though in the form the month of January is the annual deduction stated and preferred.

They did call to confirm that 2022 deduction is in January whereas the mailbox message was contradictory stating subsequent deduction is in March. Now I’m confused as hell.

So I feel like slapping myself not going the enets way.

March stock purchase

March is a period of buying.

3 stocks – Xpeng, Propnex and Sasseur Reit loaded into portfolio. The latter 2 is more geared towards income, while the former is more towards growth.

Seeking alpha has a good analysis of nio, xpeng and li auto.

I still have about approx 80k to invest, looking for the next buy diligently.

How much we need for retirement in today dollars

We figure out a comfy lifestyle is 50k per annum in today dollar for both myself and mister at age 65 provided our parents are not around by then. That’s a very conservative number.

The required retirement expenses should be covered with our SA balance given how things are running now. By 2022 or if not 2025 my SA should hit FRS. Not counting whatever investment amount we have to spend uas

Mister does not voluntarily contribute to SA and MA hence the longer timeline to reach desired payout at 65.

Speeding up CPF FRS at 55

I’m topping up CPF MA to current BHS of 63k so that the monthly contribution will flow from MA to SA helping to accelerate FRS and close to ERS by 55.

This would be the annual strategy until 2025 or earlier until FRS is attained – voluntary top up of MA to BHS and SA top up of 7k.

One endowment approx 26k will mature on November this year and may pump it in to SA which will help accelerate the SA to FRS by year 2022 October.

The plus point of voluntary top up is that it is tax deductible (Max 7k for self)

CPF is the last line of defense for retirement other than own investment portfolio.

hello 40

Reviewing 30s

Work wise was tiring and started to see some money rolling in exponentially when I joined mncs at 36. Hence it helped me till date build up slight 50% of retirement goal. Now at 40, it’s tough to jump company to get huge pay increment given the climate and my skill sets it’s not feasible. Plus I have no desire to move and readapt again.

Housing wise: Sold 1st resale HDB flat at 35, made a mere 80k, stayed with parents for a year while finding the next flat. Hubby was tempted to spend 1.3m to upgrade to a condo but as the cfo I did not approve and looking back we are glad that we didn’t have much housing debt. Our CPF OA till date can service 50 percent of our current Hdb loan so we don’t have that much unwanted financial stress. We chose not to wipe out OA during our second Hdb purchase just in case we get retrenched and need not fork our cash to repay mortgage. Last year sept we repriced to 1.5% for next 5 years.

Health wise: starting to see some cracks like waking up frequently in the night making toilet runs, losing hair, anxiety etc hence embarked on wellness through TCM. Though not cheap, I do think health is important, if I don’t take care now it will haunt later. I do not want to be a burden to hubby or immediate family and definitely value quality of life.

Money wise: Am focus on buying needs not wants. Willing to spend a bit more on needs for longer mileage and low maintenance purposes. Still following long /short term financial goals. Investing in growth stock regularly (ten baggers concept), I hope I get to bag at least one per year.

Marriage wise i cannot ask for more. Blissful to have a hubby who is simple, does not go after material wants or have any midlife crisis yet :P. Only vices he have – gluttony and being nocturnal (both bad for health).

The most problematic part of our lives are my parents and his mum. 3 of them are not financially prudent.

However I am glad my parents have recently awoken. Our govt has been encouraging elders to return to workforce through monetary incentives. Both of them got a job near home and have extra cash to spend on wants now. Suddenly they are living amicably and not tearing each other hair out over money.

The only qualm is mother in law and her current hubby (not my fil) who lives off her. Both refused to work, or I think they are socially unable to adapt or mentally challenged. She takes a substantial monthly payout from my hubby for ten over years and counting while his siblings do not and is probably not willing to. My hubby biggest worry is his own mum and she is now 59, we still have a long way to take care of her. The worst thing is she does not have the concept of money and spends when money is on hand. She spent 30k in just 6 months (money gained from selling flat from her ex ex husband – not my fil). Hubby has to disperse cash twice per week, otherwise she can spend the monthly allowance (1.5k) in just one week. Well I try not to meddle and stay neutral, the only boundary I set and tell him- I trust he is adult enough know to give to a certain extent, not to enable the wrong behavior as his money is mine, and mine his. We are one entity. Hubby can only stop worrying perhaps 20 years later when he is in his 60s and his mum at 80. Well, luckily we don’t have kids because our parents are our big kids.

Well that’s life and we deal with it. We will continue to try to do the right things everyday and hopefully by 50 we should be in a better place in all aspects of our lives.

Thankful

At this 2nd wave of covid period, I landed a job of a different nature in the same industry through past network work contact.

I am glad that despite so many retrenchments and worry of job safety, the access to a stable income is present.

Though the total package is not as lucrative as my previous roles – very high pressured, numbers driven environment to close sales on a weekly basis else PIP may be inevitable, for the age bracket I am more than fairly compensated given this is a brand new role and a calculated risk for the employer to hire me.

From this opportunity I realized the values of network, and not to ever underestimate it and be dismissive of it. I guess being humble and ask for jobs did help, and it’s a reminder for me to pay it forward to the next person who needs it. Such a continuous cycle of goodwill can make a big difference to a person life.

Now with income stream coming in, I have to remind myself not to splurge unnecessary and store ammunition for battles. Am going to take my first pay cheque to top up SA which is a short term goal to reach FRS ASAP.

SA ending 2020 without 7k SA topup – 124,728.00

Top up 7k voluntary plus employment contribution till Jan 2026 estimated SA would be 216,950.21.

From 2026 without yearly 7k voluntary top up but plus continuous employment till Dec 2030 the expected SA balance is 295k, if with 7k voluntary top up expected it would be 333k estimated. Retiring at 50, I should be able to meet the “FRS” at 55 with what dollars and sense illustrated here

Cpf is always a seen as the last line of defense while portfolio is what will provide us for our plausible early retirement at 50. Portfolio is targeted at growth stocks for now, and slowly liquid it to dividend stocks as we grow older to provide the passive income then for us from 50 to 65 before CPF payout.

How to be an interesting person.

Time is fleeting and I try to be conscious NOT to spend idle time mindlessly scrolling through Instagram or social media. Too much entertainment and marketing inserts on social media can dull my already empty brain and wallet.

I will wait till the skillsfuture credit is reloaded (soon by 31 dec 2020) to take the AWS cloud practitioner exam and probably enroll in some photography / video courses to help me create better videos.

Some of the things I picked up the past 2 months are 10 min morning meditation, 10 min end of day reflection (jot down on Apple notes). I have also restart my video creation on YouTube and completed Amazon web services cloud practitioner essential (classes are FREE online at AWS site).

Last year July I used up the skillsfuture on a makeup course at cosmoprof academy and had tremendous learning and fun. Respect to the makeup industy, it is not easy and they spent long hours standing, waiting with measly pay unless one is well established within the industry.

I will continue to read extensively on non fiction books (please recommend me some) and on Feedly where RSS feed of Singapore investment bloggers help me gain different insights and perceptions.