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Showing posts from October, 2018

Mid-year review: Goal met of $200k cash at 28. $400k+ net worth and Astrea bond V

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Half a year gone.

I still have not gotten my keys to my new home and am still childless. Ok, TMI.

On financial front, I've been seeing a steady increase in my net worth. As at my last update in end 2018, my net worth was at $372k.

Half a year later, I've successfully crossed $200k cash savings (previously it dropped as I topped up my MA) and exceeded $400k in networth. I may be able to hit $450k by end year but will just need to carve out some money for renovation and home stuff.

Most gains came from employment. While I lament how sick I am of work, it is my main source of $. I've not added any stocks and can never not live off my portfolio for passive income. It is with salary crediting that I've received 1.85-2% interest on my DBS multiplier anyway.

I've been thinking if I'm making my money work hard enough. I occasionally browse the SGX hoping to see some stocks to purchase, but am not comfortable enough to make the move.

Since Jan till date, my transactions …

Goodbye BOC Smartsaver account. Hello DBS Multiplier

I've officially severed ties with my BOC Smartsaver account, after a good 2 years.

With the disappointing revision to the BOC Family card, which used to be the BEST credit card I had, it just wasn't worth keeping the bulk of my cash in BOC anymore.

Since Aug, I've jumped ship to DBS Multiplier and left the minimum balance of $1,500 in my BOC. Today, as I passed by the BOC branch at Jurong East, I decided to just close the account. No point leaving my $1,500 there when I can transfer it to other accounts to generate more interest!

As I stepped into the BOC branch, I saw restless ladies gossiping at their seats. I was the only customer, but nobody bothered to serve me. I even had to ask if I'm supposed to take a queue number, but nobody came to assist. Over at DBS, the customer service experience would be way different, in a positive way.

BOC has gotta up their game in terms of their cards/accounts perks and staff attitude/customer service man.

That said, it was quite a …

How I manage to cover the full cost of my wedding

For people my age, wedding bells have been ringing.

A few years ago, we started out in the workforce, fresh from school, trying to earn our keeps and manoeuvre ourselves in the dogs eat dogs world.

As we earned our keeps, we also knew we had to save for impending cost bombs - for house, for wedding, for kids, and for retirement.

Back then, I set my goal to save $100k and I managed to hit it at age 25. I knew time was on my side and I had keep my expenses low in order to save. I wasn't earning big bucks - I was just a normal salaried working, earning less than what my peers were earning.

Likewise, when I planned for my wedding, I knew I had to keep my expenses low as well because my partner and I were paying everything out from our pockets. I was the Chief Finance Officer budgeting and making sure we clock rebates, and getting the best deals out of everything. I was also the CEO of my wedding, because I dictate most of the "to-do" and "not to do" list.

Now that …

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