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First CPF top up in Jan 2023 and tax relief concerns

Detailing my yearly CPF top-up and thoughts.  This is my 8th year of top-up. 1. Top-up $2.5k to Medisave via Paynow Did a $2,500 top up to my Medisave, bringing it to 2023 MA ceiling of $68,500. Done the same for my husband as well. 2. On hold - To top up $5.5k to SA or no? Contrary to the past where I top-up at the start of the year, I have decided to hold off the top-up. A) Running out of cash Firstly, I'm running out of cash. I'm berating myself for degrading to the past where I look forward to my monthly income for cashflow. So I can build up my $100k capital in savings account again, given the current high interest environment.  B) Hitting FRS soon = no tax relief Secondly, I'm concerned about reaching FRS too soon.  The FRS this year is $198,800. I'm now sitting on ~$157k SA which means $41,800 away from reaching this ceiling.  I know some people encouraged maxing this out ASAP. But, as I've crossed 6 digits annual income, maxing FRS soon meant lower tax relie

Starting 2023 with extra $9,979.20

Happy 2023~! I woke up feeling not very positive. It seems like I've brought forward my 2022 negative thoughts along. I ought to be more optimistic! Anyway, my best way of welcoming the new year is to count the new inflow of $ and here's my CPF interest for 2022: Have you check your CPF interest yet?

End 2022 Review - failing financial goal for the first time, $660k net worth

In end 2021, I shared that I was hitting close to $700k in net worth. I did. On 1 Jan 2022.  But, things just went downhill from then on.  Here's a recap of my finances over the years: 2016 -  Unexpected review of 2016: hitting $200k in net worth 2017 -  End 2017 review - net worth at $287k 2018 -  End 2018 review - net worth at $372k  2019 -  End 2019 Review - inching close to $500k net worth  (~$440k) 2020 -  End 2020 Review - net worth at $550k 2021 -  End 2021 Review - closing in to $700k net worth Targets review: These were what I set out for 2022: Aim to achieve $850k net worth in 2022❌ Bring my parents out for an overseas trip; if not make do with cruise trip❌ Grow crypto portfolio to 10% of networth❌ Material wants: buy a rolex and LV/chanel bag✅ (no rolex or chanel, but a LV) 2022 Review Here's a recap of what went by in 2022: Jan Started the year with $8728.48 in CPF interest Made my first CPF top up of $3k to MA in 2022 Shared I had $17k passive income for year of 20

Shitty 2022? Reframing my mind and be positive

This year is definitely going down as my WORST financial year. For the first time in my working life, my net worth DECREASED, although my income increased. But I'm still holding on some hopes till 31 Dec 2022.  Praying for better stock and crypto market. This year hasn't been kind. If not for my own intuition and initiative to job hunt, I'd be jobless. I am thankful to myself and any higher beings for blessing me.  I now have an inkling of how it feels like IF I had no income stream. While I have at least $100k cash savings across FD, banks, it's not as much as before. Most of it are stuck in stocks, for which I'd incur losses by selling now. A good portion is in crypto, which I'm preparing to write off as 0. I blame my poor planning and eagerness to strike it rich, fast.  If I had been more careful with my money, I'd be richer. I'd have more disposable cash to plonk into high interest accounts. I'd feel less jittery if I had no income for a while. B

Signs to leave a company

I can't proclaim I know it all. But after close to 10 years of work experience, I have my own reflections and thoughts about when it is time to pack you bags and leave a company.  1. When your boss doesn't like and understand you I've been blessed in my first job that my bosses likes me, a lot. I was given opportunities (though I felt stress) to do various projects, and I was given limelight. Even when I made mistakes, my bosses were empathetic. I am still young and learning, they said. I think age might have played a part. Because I was young, I was inexperienced, they were more forgiving. I was also less of a threat to them.  In my next role, I was half lucky. My bosses also like me and were rather kind to me. However, when there was a change in boss to someone just a few years older, things changed. She put on a fake front, and was difficult to engage. As I felt less respected, I was very open in showing my dislike for her as well.  In my current role, I was unlucky. I c

Tiq 3.60% 3-Year Endowment with min $5,000 savings

One year ago, I spoke about Tiq 3-year endowment plan at 1.62%. This time, they are rolling out a   3.60% 3-year endowment plan   with a minimum saving of $5,000! Who is this useful for? If you've max out your SSB and have spare funds, you may want to consider this You are ok to spare your funds for 3 years. The min amount to put in is $5k You are happy with their Guaranteed Maturity Benefit of 3.60% Death benefit where they pay "101% of your single premium upon your demise" is a bonus. Choy, I hope nobody gets this Registration What I love about tiq is their fuss-free and simple sign-up. You can refer to my past posts where I blogged about my "investment" into them. I treat these as an alternative savings plan with additional protection benefits! All you need is to visit  this

Oct updates - mixed of bad, good news and Endowus updates

I was hopeful that this month would be a good month, but an event scarred this. Work Last month, I started looking out for jobs aggressively.  Of the 4 roles that I went into 2nd round for, I managed to get 2 offers this month. Of which one was my top choice. I was elated and thought this was a good start to the month. It also heartened me that I am still of value in the job market as I successfully negotiated a higher package despite the current situation.  As I was pondering how to resign, when to resign, I got a shitty news from my company that scarred this month. It made clear to me the ugliest side of the company and the people and I'm glad I'm getting out of it. I hope things will go well for me and nothing screws up my new role. If not, I'd have to rely on my husband for a while. Expenses I haven't been saving much. Succumbed to buying a new iphone 14 pro despite getting the iphone 13 pro max last year. I thought I should treat myself for getting an offer. But on