Author: Retire by 50

Will you lock up $25,000 to get free mobile subscription for the rest of your life?

Before you read further, this article is not sponsored and the reason why I am using NTUC Income’s VivoCash Prime insurance plan as a reference in this article is simply because it’s way too easy generate an online quotation with relevant benefits illustrations through their online life insurance platform without going through an insurance agent. The sweetener in buying online is that if I choose to buy online, they offer an extended free-look period of 90 days (just in case I get buyer’s remorse later on). It’s interesting to know that if you’re considering to purchase a life insurance...

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Sandwich Generation: Help your kids escape the same fate

NTUC Income just launched a viral marketing video that complements their recent study on the Sandwich Generation and how Singaporeans view their financial future. I know it’s becoming viral because my friends who aren’t great at financial planning started posting the video in Facebook. In case you’ve not watched it before, here’s the video. Warning: Have your tissue box nearby before you click the ‘play’ button. [embedded content] Who are these Sandwich Generation people? Essentially, the Sandwich Generation is defined as parents who are tasked with supporting their own children, as well as their parents at the same time....

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Reader Question: Should I surrender my annuity and top up my CPF Retirement Account?

Last week, I received an email from a reader asking for my opinion if she should surrender her annuity and top up her CPF Retirement Account to get a higher monthly payout from CPF Life. Grab a cup of coffee while you read this article because it’s going to be a long one. Here’s how the email goes. Hello, I have been following your blog for a while. I refer to your blog about the CPF Life and Private Annuity Plan. I am 65 this year, self-employed. Yearly I top-up my RA for tax relief in addition to Voluntary...

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Getting my feet wet with dividend investing with NetLink Trust

It’s been 4 years since I’ve held any individual stocks in my portfolio. I decided to explore the markets again for stocks to build a portfolio on top of my existing ETF investment portfolio using spare cash that I have accumulated from sur in my monthly budget. Based on my calculations, the ETF investment portfolio that I’m currently building will be more efficient left alone till 62 before I start drawing down from it. So I’ve been thinking about setting up another investment portfolio. The purpose is to build a separate investment portfolio that has the potential to provide...

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Why SG Budget Babe Readers’ Investment Workshop is a godsend for beginner investors

This blog article is not sponsored and although I attended the workshop with a free ticket, the contents in this article are purely my own opinion. After I attended the Seedly Personal Finance Festival, I walked away determined to learn more about investing on my own. When I was given an opportunity to attend a Readers’ Investment Workshop conducted by Dawn from SG Budget Babe, I jumped at the opportunity in a heartbeat. I learnt so much from the workshop and walked away with so many actionable items in my notepad. In my circle of friend, many consider Dawn...

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By popular demand: My favourite slides from the Seedly Personal Finance Festival

Many readers have emailed me asking if I could share photos of the slides taken from the festival. Here are my favourite slides that were presented by the various speakers. I must highlight that it’s easy to take the images out of context if you weren’t present at the festival and heard it first hand from the speakers. I’d strongly encourage that you the speakers directly to find out more about what they have presented if you have any questions. Speaker...

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My 6 key takeaways from the Seedly Personal Finance Festival 2019

Today, I spent 8 hours on a Saturday at Singapore’s largest personal finance event – Seedly Personal Finance Festival 2019. I repeat, 8 whole hours! That’s the number of hours I spend in the office on a work day. Who would have thought that young adults would pay to wake up early on a Saturday morning to attend a 1-day event to listen about personal finance? Great job, Seedly! I’m not going to do a full recap of what the speakers have said because that’s 8 hours worth of content and a blog article will not do the speakers...

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Update on my Open Letter about CPF Life payout process

I didn’t get a response from Mrs Josephine Teo, our Minister of Manpower. But you know who ed me? The friendly folks from the CPF Board. I had a 1-hour long call with them to share my feedbacks and here’s what we have discussed. In this article, I’ll attempt to be specific about things that are different for CPF members under CPF Life and those who are under the Retirement Sum Scheme (RSS). What information does CPF Board need before they can start making payouts? For CPF members under RSS, CPF members are required to provide their banking details...

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My Open Letter to Josephine Teo about CPF Life payout process

This is my open letter to Mrs Josephine Teo, Minister of Manpower and Second Minister of Home Affairs, and Member of the Singapore Parliament for Bishan-Toa Payoh GRC about her response in Parliament on why CPF payouts are not started automatically at age 65. Dear Mrs Josephine Teo, I write to you as a fellow Singaporean and as someone who intends to retire gracefully in Singapore with CPF Life forming part of my retirement income. Yesterday, you have addressed your fellow members of Parliament in response to their questions on whether CPF information can be better related to the...

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Singapore Budget 2019: What middle class Singaporeans need to know

In this article, I’ll be zeroing in on the things that I found relevant and important to middle class Singaporeans. Singaporeans who are making a decent monthly salary and are don’t always receive much benefits and support from the government. Last night, I spent 2 hours catching up on the Singapore Budget 2019, making notes of the opportunities and insights that were mentioned by Mr Heng Swee Keat during his speech. Let’s get the goodies that the government is dishing out this year that middle income Singaporeans will and will not be getting. No GST vouchers for middle income...

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No Spend Week Challenge Results: How I bought nothing for a week!

I challenged myself with a No Spend Week Challenge early in the year to push myself a little harder to see what happens if I try to not buy anything for a week. You can read about the rules and exceptions I’ve set for myself for this challenge. Here’s how the challenge went. My No Spend Week Challenge Journal Sunday: I woke up early as usual and made breakfast. I made a large burrito using some salami and cheese that I found in the fridge and topped off with scrambled eggs. Easy peasy! I spent the rest of the...

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Join me on a No Spend Week Challenge to buy nothing for a week

I first heard about no-spend challenge from an episode of the Stacking Benjamins podcast where Joe, OG, and the gang interviewed Jen Smith from Modern Frugality about how implementing No Spend Challenge helped her to compensate for budget flubs. What is a No Spend Challenge? When I googled about “No Spend Challenge”, I found that there were many other bloggers who did the challenge for different reasons. For some, a No Spend Challenge could help to reset their budgets after overspending on a vacation, or to get back on track from spending on an unexpected expense. A No Spend...

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Simple tips for investors in bear markets

According to experts, the bull run is almost over. While there are mixed reviews on whether we are heading into bear market territory, what we know for sure is that the markets are very volatile right now. For most investors, their portfolio is most likely in the red. My investment portfolio with Autowealth is down by close to 4%. It’s not as bad as the rest of many investors because my portfolio consists of a diversified portfolio of ETFs and I continue to average down every month. I’m no investment expert so I’m not going to tell you what...

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Looking back at 2018 and my plans for 2019

2018 has been a good year for me, both financially and career-wise. On the career front, the new company I joined in late 2017 treats me well and the team is pretty awesome. The work I do there have been meaningful and fulfilling. The monthly income derived from this work is more than sufficient for my monthly expenses and save a decent amount of money for retirement. On the personal finance side of things, being a disciplined saver paid off for the year. After completing the purchase of my overseas property in Cambodia, I channeled the same amount that...

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Even Jack Ma, the richest man in China has a retirement plan

Yesterday (10th September), the richest man in China, Jack Ma has announced that he is retiring. The Chinese billionaire would step down exactly a year from now, with CEO Daniel Zhang succeeding him. Why would the richest man with the most valuable company in Asia want to retire? With that much power in the most valuable company in Asia (not to mention all that money), why would Ma want to give it all up and retire? The fact is that with great power comes great responsibility (thanks Spiderman!). Even after retiring as chief executive officer of Alibaba to become...

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