Showing posts from 2024

Changes To How Self-Employed Contribute To Central Provident Fund

This is going to be a relatively short post, as this is just to share what I have learnt from Central Provident Fund (CPF) staff regarding some updates on the way how self-employed individuals can contribute to their CPF accounts.  Kindly note that the changes only affects self-employed individuals who contribute more than their Medisave liabilities to their CPF.  If you are self-employed and only contribute the required percentage of Net Trade Income (NTI) to your Medisave Account (MA), this change will affect you. Just for context, it is not a must for self-employed persons to contribute their monthly income to CPF Ordinary Account (OA) and Special Account (SA), but it is mandatory for them to fulfil their Medisave liabilities as determined by Inland Revenue Authority of Singapore (IRAS), which is a percentage of the annual NTI generated by the self-employed person, based on their age group, as shown below: I am a self-employed person as of late 2015, and since then till prior to Jun

Playing The Miles Game Inevitably Results In Lifestyle Inflation

For a start, please note that not everyone who play the miles game will inflate their lifestyle.  This is just a personal sharing on how I feel my lifestyle has changed when I started the miles journey. All along, I never cared much about miles or cashback earn rates from the various credit cards.  I just applied for credit cards that I think I have use for, of which mostly are cashback cards, for my necessary spending.  I did not pay attention to how much cashback I can earn, or what rewards am I eligible for.  They are mainly just used for paying for my expenses, and ensuring that I pay in full when its due (so there are many missed opportunities all these years).  However, in September 2022, things took a turn.  I applied for the HSBC Revolution credit card for the sign up bonus, which is a SGD 250 cash rebate, and most importantly it has no annual fees, so I do not have to worry about calling in for waivers annually.  After getting the card, and reading blogs by other fin-fluencers

Portfolio Update for May 2024

This will be a relatively short post, just to update on the transactions for the month. For the month of May, it was an interesting month.  The old adage of “Sell in May and Go Away” was definitely back to haunt the markets before the month started, especially with the looming threat of stickier than expected CPI numbers.  However, interestingly, the markets were hitting new highs in May.  The Dow Jones Industrial Index crossed the 40,000 mark for the first time this month, bringing confidence to the performance in the market. On the other hand, CEO of JP Morgan, Jamie Dimon was cautious and said that US cannot rule out the possibly of a hard landing, and stagflation would be the worst outcome for the US.  This speech brought volatility back into the markets and pushed back any hopes of rate cuts to the 4th quarter of 2024 instead of the 3rd.  Personally, I have mentioned earlier that I am not going to be guessing when the rate cuts is going to happen and I am just going to live wi

My First Trip To Japan Together With My Mum!

This is my first trip travelling out of ASEAN region, where I have to plan every bit of the itinerary myself.  For previous family trips to Sydney and Perth, I am generally tagging along, being a follower.  However this time, it is going to be a duo trip with just my mum and myself, which I am both looking forward to, while at the same time worried about how things will turn out there and then.  Nonetheless, the decision has been made by late last year, and I booked the flights for 2, flying with Scoot to Kansai Airport for our 9 days 8 nights trip.  Feels good that a goal set early this year is materialized! Without further ado, I will share the travel journey below: Day 1 Arrived at Kansai Airport in the afternoon, and we grabbed a quick snack at the famous 551 Horai outlet.  Then after much complications with the Haruka Limited Express, we are finally able to board the Hello Kitty's train direct to Kyoto!   Haruka Limited Express We reached Hearton Hotel Kyoto in the late afte