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Socks! Socks! My Kingdom for some socks!

Friday, December 6, 2013

I woke up in the morning to discover that I was out of socks! Really!

It reminded me of an episode in Black Adder:

Prince George on the left and Black Adder on the right.

BLACKADDER: Sir, if I may make so bold, a major crisis has arisen in your affairs.

PRINCE GEORGE: Yes, I know Blackadder. I have been pondering it all morning.

BLACKADDER: You have, sir?

PRINCE GEORGE: Yes. Socks. Run out again. Why is it that no matter how many millions of pairs of socks I buy, I never seem to have any?

BLACKADDER: Sir, with your forgiveness, there is another, even weightier problem.

PRINCE GEORGE: They just disappear. Honestly, you'd think someone was coming in here stealing the damn things and selling them off.

In case you are wondering, Black Adder was selling them off. The Prince was clueless.

Anyway, in my case, the population of socks in my cupboard has been dwindling as they got worn out and thrown away. So, I decided to buy some new socks in the evening.

I went to the nearby shopping mall and walked into Giordano for the first time in, er, 3 or 4 years? Made a beeline for the socks which were going at 4 pairs for $20. Got the shorter ones because they feel a bit more cushy compared to the ones of regular length, if you know what I mean.


8 pairs in all. I think they should last me another 3 or 4 years. Well, I hope so, anyway.


Funny!

AVIVA paid me $10,529.

Thursday, December 5, 2013

On 28 October, I wrote a piece on single premium endowment policies and I revealed that I had one such policy with AVIVA maturing in November. 

I wondered how much would I be receiving when the time comes.

I received this advice last night:




Over 8 years, a $10,000.00 premium apparently made $2,175.00. I had previously thought the returns in the first 6 years were $800.00 or less. I was mistaken. My memory is unreliable.

So, the policy made $2,175.00 over 8 years. This means 21.75% spread over 8 years or 2.72% per year. 

Quite miserable even by endowment policies' standards. 

Still, it is better than what the SRS account would have given me in interest payments. Everything is relative, of course.

All said, this is a forced savings plan and, at one time, I thought it would be a good idea to force myself to save. 

This was money in my SRS account anyway and I wasn't doing anything with it.

On hindsight, I should have kept the money in my SRS account untouched and I would have had more ammunition to buy cheap stocks during the GFC.

I now have quite a bit of money idling in my SRS account which I consider as one of my 4 war chests. Not doing anything here is doing something too.

Related post:
How much more will Aviva be paying AK?

Dinner with AK71.

Wednesday, December 4, 2013

I meant to share these photos but, somehow, I forgot. Sign of old age.



My sister cooked a hearty meal for us. Rojak (with paste my parents bought from Penang) and Bak Kut Teh. Yummy!

Dough fritters used in both dishes. This is a way to improve productivity in the kitchen!

An appeal by AK for funds.

Regular readers know that I believe in being charitable and I have revealed before that I support 6 charities in Singapore. My favourite charity is still "Singapore Children Society" and has, increasingly, taken the lion share of my donations.

I recently received an appeal letter from another charity which I support and there was a little hand written section which moved me and I would like to share it here with you:


We might feel that what we have is not enough but if we have extra money which we are able to invest with, we are fortunate indeed compared to the poor and the needy.

So, if you have a charity that you like, please make a bigger donation this festive season. Just $10 more will make a big difference if everybody thinks the same way.


If we don't yet have a habit of being charitable, why not start today with a donation to the "Singapore Children Society"? We can make an online donation on their website: here.

Let us bring some cheer to the less fortunate in our midst. We can do it and, so, why not? Thank you.

Related post:
Have money must also have a heart.

Becoming a millionaire next door.

Tuesday, December 3, 2013

A person made $10K a month but spent $9K a month.

A person made $5K a month but spent $2K a month.

Who do you think will become richer faster, all else being equal?





The following chart was posted on my Facebook wall by Matthew Seah:


I am impressed!

Matthew is a "Prodigious accumulator of wealth (PAW)": This type of people are frugal. They save and invest. They become millionaires.





"People sometimes think that high income earners are wealthy people. This might not be true..." STE: The Millionaire Next Door.

Related posts:
1. Think you cannot reduce your spending?
2. A fast track to wealth building.
3. How to tell if you are rich?

Time for AK to be paid $12,750.

Monday, December 2, 2013

Who? Who?

Who is paying AK so much money?

Why? Why?

Make a guess?

Pause.

Pause.

Pause.

Give up?






It is the last quarter of 2013 and I am making my yearly contribution to my SRS account. 

So, I am paying myself $12,750.

Aiyoh, who threw something rotten at me

Hey, must have a sense of humour mah. LOL.





Although the contribution cap is S$ 12,750, we do not have to contribute the maximum if we don't need to or are unable to.

Don't need to? 

Well, a person who pays relatively little income tax could be tax free simply by contributing a few thousand dollars to his SRS account.

Unable to? 





Everyone's circumstances are different. $12,750 is quite a bit of money for many. 

If a person could only contribute $5,000 comfortably, then do so. 

Although he would not enjoy the maximum tax savings, he would still enjoy some savings.

I hope you will remember to contribute to yours before the end of the year.






The SRS is part of the Singapore government’s multi-pronged strategy to address the financial needs of a greying population by helping Singaporeans to save more for their old age. 

It began in 2001 and is operated by the private sector. 

Writing out a cheque to myself.

NOTE:
From 2016, the max SRS contribution is $15,300 a year.






Download the SRS Handbook: here.

Related posts:
1. Be rewarded for opening an SRS account.
2. A war chest called "SRS".


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