Make money. Build Wealth. Preserve Wealth
As children, happiness was all about getting our desired toys or playing our favorite games. If we did not get what we want, we threw tantrums or cried. When we became working adults, being happy meant achieving our goals and dreams. If we did not meet our self expectations, we became unhappy, frustrated and indulged in the blame game.
As we matured and entered into our twilight years, happiness was about attaining a balanced state of mind. If we were unhealthy or sick-ridden, we could not have a peace of mind.
The above philosophy perhaps summed up what happiness represents in different phases of our lives. In recent years, there were a lot of articles on this topic and there were also much debate on how Singaporeans view the quality of their lives in the lion city.
This is a natural progression of our civic society and many Singaporeans have began to think beyond the pursuit of money.
Obviously, money is important and we should always respect money. But many of us begin to realize that life is not all about making more and more money. There are many things in life that money cannot buy – respect, love, kinship and friendship.
Many members use CPF savings when buying a property. Before you decide on buying your dream home, we highly recommend reading “Things to look out for when buying a property using CPF” and watching “Buying a House” videos. Here’re 8 essentials you should be aware of. Please note that the information may be different if you are using CPF for multiple properties.
Q1. What CPF savings can I use to buy a property?
Only Ordinary Account (OA) savings can be used for property. You can use it to:
(i) Pay lumpsum/downpayment to HDB for the purchase of an HDB flat, or to a property developer or a seller for the purchase of a private property.
(ii) Repay the housing loan taken for the purchase of HDB flat or private property.
(iii) Pay legal fees, stamp duty, transfer fees and other related costs incurred in relation to the housing purchase.
(iv) Repay a housing loan taken for the purchase of land and/or for construction of a house on that land (for private property).
The Chinese Lunar Calandar
The ShengXiao, is known in English as the Chinese Zodiac. The Chinese zodiac is a system that relates each year to an animal according to a repeated 12-year cycle. It is based on the ancient 12-year Chinese Lunar Calendar, which dates back beyond 2,600 BC. The Shengxiao includes animals in the following order :
Rat, Ox, Tiger, Rabbit, Dragon, Snake, Horse, Goat, Monkey, Chicken, Dog, Pig.
Each animal is associated with certain characteristics and in 2015, we will usher in the year of the Goat.
2015: Year of the Goat
The goat is the eighth of all the animals in the Chinese zodiac.
In the past, I’ve been thinking about how to achieve financial freedom and be a millionaire by 35 through property investment. But I have long passed this stage. I begin to think about my relationship with this society and how I can contribute and give it back – Property Soul, Founder of Property Club Singapore
The above are words of wisdom extracted from one of the email exchanges I had with Property Soul a few months ago when she approached me to do a book review on her new book “Dirty Truths and Profitable Secrets to Building Wealth Through Properties”. For the uninitiated, Property Soul is one of the local finance bloggers who specialize in real estate investments. She is quite well-known in the local finance blogging community and she shared a lot of useful tips on property investments in her blog. Many Singapore readers benefit from her sharing and obviously she has a lot of fans.
I believe there is no award for the best investment blogger in Singapore, but if there is, I would definitely nominate her. Why? Simply because of her passion and contributions to our society. Unlike other bloggers who are actually property agents trying to sell projects online, Property Soul is a thought leader who strive to drive the right principles among real estate investors, especially the novice ones.
One of the readers of AK71 solicited his views on Eldershield in his blog, “A Singapore Stock Market Investor”. In his post, the author wrote that he don’t need the Eldershield protection but nonetheless, had not opted out of the scheme due to his “friend’s persuasion” (Singapore Citizens and Permanent Residents (PRs) with Medisave accounts are automatically covered under ElderShield at the age of 40).
In his article, AK71 also downplayed the importance of Eldershield, stating that he don’t need disability insurance as he is a “Superman” with self-generating assets. After reading the article, I was unimpressed and thought it was ridiculous that a finance blogger could write such warped immature material on Eldershield without even having first-hand experience with the scheme. Such an article only serves to reinforce the ignorance among Singaporeans on insurance.
Make no mistake, I hope that none of my readers would ever suffer the ill fate of being eligible for Eldershield payouts. Neither am I trying to sell insurance policies from this article as I don’t work in the financial sector. But I feel that it is important that Singaporeans have the correct mindset on disability insurance. So today, I am going to share my late father’s experience with Eldershield.
All coins are available for pick up in our bullion retail shop Monday 1 September 11 am and onwards. Available in limited quantity only. Get yours before we run out of stock. The coins are offered on a first ordered, first served basis.
Other New Products
We continue to steadily increase our range of different products and brands available.
Only spot price of gold + 3.9 % regardless of quantity bought.
Valid until 31 August or as long as stocks last.
The Austrian Gold Philharmonics is Europe’s most popular bullion investment gold coin and is well known around the world.
Available in limited quantity only. Get yours today!
BullionStar is Hiring!
BullionStar’s new bullion retail shop has been very well received by customers and stakeholders.
In view of rapid business expansion, we are recruiting! We seek individuals who are interested to work in a dynamic team-oriented environment.
With an average of $4.3 trillion exchanged daily, the forex market is considered to be the largest market in the world. Given the sheer size of this market, it would be foolish to ignore the impact of forex, never mind whether you are finance or business professionals who are not currently involved in forex trading.
Always remember that capital flows into a country first before it flows into any financial assets. This is the reason why some local listed companies declared their earnings in foreign currencies in their annual reports instead of Singapore dollars. The exchange rates can have significant impact on the business impact and this is something that investors and business owners can ill afford to ignore.
In my research on gold bullion investments in Singapore, I found out that Singaporeans can actually use their CPF Ordinary Account to invest in gold bullion. Interestingly, UOB is the only agent authorised by CPF to sell physical gold using CPF savings and if you wish to invest in gold, you need to set up an investment account with UOB.
There is a limit to the amount you can use for gold investment and it is capped at 10% of your investible saving for gold bullion (if you have more than $20,000). Now, a few questions had been bugging me.
What if I sold the gold bullion bought from UOB to another dealer? How is CPF going to make me return the proceeds back to my CPFIS or OA account? If the policy does not address this aspect, does this mean that this is a potential loophole for investors to liquidate their CPF monies before turning 55 years old (without giving up their citizenship or ending their lives)? Out of curiosity, I wrote in to the CPF Board to find out more details. If you are interested to know more, read on.
Ladies & Gentleman,
I would like to thank you for your precious time attending BullionStars opening ceremony.
We are honored here today by the presence of our Guest of Honor, Ms. Karin Öhman, chargé d’affaires of Sweden to Singapore.
A special thanks to the Singaporean government and IE Singapore for your presence here today and moreover for facilitating for the bullion industry in Singapore.
I found out about Singapore’s bid to create a trading hub for precious metals in the spring of 2012 after Singapore’s finance minister, Mr. Tharman Shanmugaratnam, had announced the GST exemption for investment precious metals coming into effect 1 October 2012.
With the Asian demand for gold currently standing at 60 % of total global demand, and growing quickly, Singapore´s drive to create a hub for precious metals is well timed.
On my first research trip to Singapore in July 2012, I received the contact information to IE Singapore from a supplier of ours.
One thing I liked about my agent was that he was able to provide a “one-stop” services such as recommending us a banker and a lawyer to process my home loan and CPF transaction. Our case was a bit complicated because we opted for a private loan instead of HDB loan.
Thanks for your time and have a great day ahead!
I received the above email from one of my readers a couple of weeks ago. I fully agree with him that to be rich and successful in the stock market, investors should make the effort to note down the gains and losses made in their stock investments.
The principles behind such an endeavor is not really to track the actually amount of gains and losses, but rather, to serve as a form of discipline and instill a sense of purpose to your investments. Such a practice can help a newbie investor avoid many investment traps and empowers him to make better financial decisions in the long run.
When I started investing many years ago, I would record every single gain or loss of my shares investments in a little blue notebook.
Several readers had dismissed Madam Goh’s unfortunate ordeal as an isolated case and loathed to accept that Singaporeans are gullible and not good at managing money. Without even following my blog, they claimed that I generalize issues and linked different issues with no basis.
Over the past few years, there were a number of new personal finance bloggers joining the community. I appreciate their presence as they provide new ideas, thoughts and information for the readers. Such a development is good for Singapore because it helps to cultivate and strengthen Singaporeans’ personal finance literacy.
But I think one of the many blogs that stands out from the rest is The Finance.sg, a collection of local personal finance blogs in Singapore. The owner, Derek, believes that by consolidating quality sites and articles, the content can reach out to a larger audience and encourage like-minded people to share their views, thereby creating a vibrant community.
Sure, there are many other blog aggregators in Singapore but I think the success of The Finance.sg lies in its simplified presentation format. The articles are published in an uncluttered manner, with a short teaser related to the main content. So if the reader is interested in finding out more about an article, he can click on the “read more” function and will be directed to the guest blogger’s website. A lot of my blog’s traffic has been directed from The Finance.sg and henceforth, I appreciate the work of Derek. But beside giving credit to Derek, I would also like to contribute to the personal finance blogging scene by sharing with everyone on how to establish a high traffic website, or a blog for that matter.
In my previous post, return on equity (ROE) was highlighted as an important indicator to measure the management performance of a company. But one of my readers pointed out that earning per share (EPS) is also useful for investors to determine the value of a stock. I totally concur with him and would like to emphasize that both are needed to evaluate the value of a stock.Undeniably, valuing a stock is more difficult than assessing the financial health of a company because the former is a combination of art and science, while the latter can be found most of the time from the annual reports. In this article, I shall attempt to share with my readers how I value a stock, using the well-known OSIM as an example.
Firstly, P/E refers to the price earning ratio, It can be derived by dividing price-per-share over earning-per-share (EPS). For example, OSIM is currently trading at $2.71 a share. Based on the 2013 report, the EPS for 2012 was $0.12 and for 2013, it was $0.14. Given the latest quarterly report, the full year EPS should be about $0.16 for 2014. The P/E ratio had also been decreasing since 2011, from 30% to 20%.
The address of the new location is:
45 New Bridge Road
Singapore 059398The closest MRT station is Clarke Quay which is a 2 minute walk across the road.
The new extended opening hours are:
Monday to Thursday: 11.00 pm to 8.00 pm
Friday: 11 pm to 5 pm
Saturday: 10.00 am to 2.00 pm
Closed on Sundays and Public Holidays
Our phone number +65 6284 4653 will remain the same for any queries.
In my previous post on the merits of CPF Minimum Sum, one of my readers Fred Khoo pointed out that the CPF Minimum Sum (MS) scheme is a national failure and that the government should not “lock up” Singaporeans’ CPF monies. Well, one thing for sure is that most Singaporeans would have strong opinions on the CPF scheme but it does not mean that the CPF MS scheme is a flop. Indeed, there are flaws and improvements that can be made to enhance the policy to better suit Singaporeans’ needs. However, it should be noted that the merits of CPF MS far out-weigh the flaws. The recent case of Madam Goh vindicated my point.
As a cleaner, Madam Goh lives alone in a studio flat. After working for 60 long years, she managed to scrimp and saved more than $400,000 of life savings. This is an amazing achievement as apparently, she is uneducated and does not possess any skill.
Most Singaporeans do not understand the principle of ‘perception’ at work. In our workplaces, we tend to have an inflated ego of our own abilities and do not realize that how we perceive ourselves is different from what others perceive of us. We tend to overestimate our intelligence and manifest our contributions to the organization. These are general human fallacies, but I noticed that Singaporeans are never satisfied with their income, no matter how good it is. We always want higher pay as if it is our automatic rights, without linking the increment to performance. Come on, inflation is not a valid reason for pay hike.