Author: Lizardo Realm (Investment)

Can You Top-up CPF-RA Beyond FRS to Achieve ERS After Age 55?

Here’s something that I’ve been puzzling about regarding the CPF retirement sum. Say you only managed to accumulate enough for a Full Retirement Sum (FRS) of $176,000 by age 55. But you actually wanted to achieve the Enhanced Retirement Sum (ERS) of $264,000. Can you still do so somehow later? Up to age 55, you can contribute to the Special Account (SA) up till the FRS amount. And at age 55, the Ordinary Account (OA) and Special Account (SA) are then poured into the Retirement Account (RA). But let’s suppose you didn’t have any money left in the OA,...

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Phone Smashed in the Land of the Rising Sun II – The Outcome

So I mentioned how Wifey’s phone got smashed up during our trip to Japan.  Thankful that we were reminded that this should be covered by our travel insurance.  We had completely overlooked that. Thank goodness for travel insurance! Checking through the details, it seems the insurance we bought could cover up to a maximum claim of $500 for lost or damaged items. So we submitted a claim. Not bad. Just received a cheque for $203. Considering that the phone is a already two years old and would have depreciated in value, it was still a reasonable outcome. Something is...

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Saving more with SP Utilities app and UOB One Card

With the recent liberalisation of power services, I think many would have switched out of SingPower (SP) by now.  If you have not, time to give it some serious thought (see Switched to Keppel Electric, saved some). But there remain other utilities that are still serviced by SP. So here’s a quick hack offered by SP to provide further discount on the remaining bill with them: “Enjoy power on your fingertips with your UOB One Card. Paying your utilities bill is now an easy finger tap away via SP Utilities app. What’s more, enjoy up to 6% rebate on your SP...

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A Lifetime of Income for Retirement

Recent articles mentioned local survey results which suggested that an aged single could live off $1,379 per month. That works out to be $16,548 annually. A portfolio of $413,700 could generate that income perpetually based on 4% extraction (i.e. annual income needed x 25). But we need to understand that this is for a minimalist lifestyle for a single. Referencing the last published Department of Statistics report on Household Spendings by Age Group, the average monthly household spending of those aged 50-59 was $4,837 (or $58,044 annually), and drops to $3,586 (or $43,032 annually) for those aged 60 and...

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End of Life – Death Certificate

Sharing some nuggets with dealing with End of Life issues … Upon death, there is a need to obtain a Death Certificate.  Usually, if a person passes away at a Restructured Hospital, the Death Certificate is automatically issued.  But if a person passes away in a private hospital, then you need to bring the Cause of Death letter issued by the hospital to a Police Post to register for an official Death Certificate. Other things required:– NRIC of the reporting person– NRIC of the person who has passed away The Police Officer will punch out the NRIC to void...

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Switched to Keppel Electric, Saved Some

The liberalization of the electricity supply market has thrown up a multitude of options for power suppliers and consumers. Each of the suppliers has tried to differentiate from the rest. So of course, that makes it really hard for consumers to figure out what works best for them. I decided to go with Keppel Electric on their fixed price plan, betting on the assumption that prices will only keep going up. I mean, does it ever come down? Ever? Got a bit confused with the billing system.  During the transition period, I continued to receive the ol’ SingPower bills. These...

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What the fish? There goes Boardroom out the door!

What the fish. Boardroom’s parent company, G K Goh, through its Salacca vehicle, is carrying out a “voluntary unconditional cash offer”. That’s another good stock exiting. Can you feel the increasing preponderance of the recent trend? Good company bought out and exits from SGX. Shitty company hitting rock bottom and suspended. At this rate, all we will have left soon will only be the mediocre. Sigh. On the bright side, that’s more spare cash with which to hunt another...

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Phone Smashed in the Land of the Rising Sun

Wifey and I went to Japan for a couple of weeks, not too long ago. Hanami season and all that. Yeah. Nice. Really. Should go if you have not. Go, go, go. Our last stop was back in Tokyo as we were flying out from Haneda to return home. So there we were, on the last evening of our wonderful holiday, standing at that amazing crossing at Shibuya. Throngs of people, including dumbstruck tourists like us, adding to the bloody mass, er mess. And of course, holding on to our mobile phone to take wonderful pictures for momento. [Who...

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Quit Like a Millionaire, by Millennial Revolution

I’m quite a fan of Millennial Revolution and have been following them for awhile They are on FIRE! The couple (FIRECracker and Wanderer) hails from Canada and travels the world quite a bit. While the circumstances of Canadian investment and personal finance options may be different, nonetheless, there are useful ideas that are useful and relevant. I heard them on the radio once when I was in Australia. Or was it New Zealand? I can’t remember. [Early signs of Alzheimer? *shrug*] It was so fun to hear them live. Bubbly interview. They have just published a book that they have...

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$3,000,000 for Retirement; How about $1,750,000 instead?

So there was an article in the papers a few weeks back that said a $3,000,000 portfolio is needed for retirement. That seems daunting. Scary. Seemingly beyond the possible. I presume that magic number was derived based on a need to generate $120,000 per year for 4% extraction from the $3,000,000 portfolio. But this can be reduced significantly for a Singaporean couple who can max out their CPF accounts. If both husband and wife (assuming of same age) can meet the Enhanced Retirement Sum ($250,000 to $275,000), they can collectively generate close to $50,000 per year from age 65...

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The Scary Situation of Being on a Denied Entity List

Effects of being placed onto a US Department of Commerce’s Entity List are just beginning to filter through for Huawei and to consumers. And looks like it has caused some level of panic for owners of Huawei mobile phones? The P30 30x zoom for the camera is great. But without all the apps that make the mobile phone great, who wants the phone? And in this scary digital world where bad guys abound, the apps need to be constantly patched to maintain cybersecurity. Software and hardware need to go together. It also means that companies supplying to Huawei in...

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The Scary Situation of Being on a Denied Entity List

Effects of being placed onto a US Department of Commerce’s Entity List are just beginning to filter through for Huawei and to consumers. And looks like it has caused some level of panic for owners of Huawei mobile phones? The P30 30x zoom for the camera is great. But without all the apps that make the mobile phone great, who wants the phone? And in this scary digital world where bad guys abound, the apps need to be constantly patched to maintain cybersecurity. Software and hardware need to go together. It also means that companies supplying to Huawei in...

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Amazon Prime – The Scam (a.k.a. Electronic Bills are Evil 2)

I have to say it again: Electronic Bills are Evil. My daughter is a Gen Y.  Gen Ys can’t be bothered to check their bank accounts regularly. They snapchat, and everything is just a passing memory. Am I generalising or am I right? Anyways, happened to check on a random day and realised that she has been charged since January 2019 for Amazon Prime membership fees. Yet apparently, she had terminated her membership since mid-2018.  Seems for the past three months, she has been billed GBP3.99 by Amazon.  That’s randomly ~$7 a month. Sneaky. Scam? The good thing is that...

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How Much Do We Need in Retirement?

When you start getting old (older), you start thinking about this kind of question. But really, should start thinking early. The trick is to start early. Very early. Anecdotally, it seems like a comfortable retirement lifestyle will require $3,000 per month. Of course, if you’re going to live a retirement drinking only tap water, living on a remote isolated kampung on a distant island, and eating fish fished from the sea everyday cooked any number of ways, maybe you need a lot less, But that’s not the kind of lifestyle I’m thinking of. For a couple, that works out...

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End of the Road for Travel Smart Rewards

So sad. I’ve been clocking points that get converted as cash rebate to top up my transportation card (see Insinc with the Times; subsequently changed to Travel Smart Rewards). Effectively discounted travel. But I have just received this e-mail: — Dear Travel Smart Rewards user,Thank you for your support of the Travel Smart Rewards (TSR) thus far. The Land Transport Authority (LTA) has reviewed the Travel Smart Programme to take into account rail network enhancements in recent years and changes to commuter travel patterns. Following the review, we will be concluding the TSR programme. Please see http://bit.ly/2VWe2rt for more information....

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