Archive for the 'Other Money Matters' Category
Saturday, July 24th, 2010
If you are still considering buying properties despite this advice, and both HDB prices and private residential prices at historical high, you have to take note of the flooding factor. Ditto if you are renting a place.
Regular flooding is a recent phenomenon in Singapore. After the completion of the marina barrage, which “helped to prevent flooding“, [...]
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When Buying Properties, Avoid Flood-Prone Areas
Posted in Investment, Other Money Matters | 3 Comments »
Sunday, July 4th, 2010
It costs about one million dollars to raise 2 children in Singapore.
Don’t be too alarmed. Let’s take it positively – you may treat your children as “assets” and include this cost as part of your wealth. So, add $1 million to your net worth if you have 2 children. $2 million if you have [...]
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$1Million To Raise 2 Kids
Posted in Net Worth, Other Money Matters | 4 Comments »
Tuesday, June 22nd, 2010
In a recently concluded Salary.sg poll, 31% of the respondents indicated that their medisave balance reached the prevailing medisave contribution ceiling before they were 33 years old. Are you one of them?
Once your medisave balance hits the MCC, the excess will be transferred to your Special Account.
How soon you hit the MCC is an indirect reflection [...]
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31% Hit Medisave Contribution Ceiling Before 33
Posted in Other Money Matters, Retirement | 4 Comments »
Friday, May 14th, 2010
The prevailing CPF Minimum Sum will be increased to $123,000 effective 1 July 2010 (source: Straits Times). This is a $6k increase from the previous $117,000.
If you are thinking of using CPF to pay for a second property, you will need to set aside half of the prevailing Minimum Sum. This amount is currently $58,500, [...]
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CPF Minimum Sum Now $123k – Buying a 2nd Property?
Posted in Investment, Other Money Matters, Retirement | 9 Comments »
Wednesday, May 12th, 2010
Did you have enough cash when the stock market plunged to its lowest points between late 2008 and early 2009? If you did, and you were confident enough to buy stocks, you would have made good money using the market cycle investing strategy.
Someone told me he had very much wanted to buy some cheap shares [...]
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Hold Cash To Exploit Market Turmoil
Posted in Investment, Net Worth, Other Money Matters | 21 Comments »
Tuesday, March 30th, 2010
Do you know that Singapore uses a progressive tax system? The tax rate increases as the chargeable amount increases. (See IRAS tax rates.)
A person with a chargeable income of $100k is taxed $7,100 or 7.1%.
But if the chargeable amount was $300k he has to pay $39,300 in taxes or 13.1%.
Fair?
Here’s the income tax calculator for [...]
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Income Tax Singapore YA2010
Posted in Income, Other Money Matters | 14 Comments »
Wednesday, March 24th, 2010
The latest COE Bidding Results are out. With the exception of the motorcycle category, all other categories recorded their highest prices in recent years.
To buy a small car, you now have to pay $28,389 for that “Certificate of Entitlement”. (I heard an NUS degree costs less. )
Car dealers have also promptly adjusted their [...]
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High COE Prices – Can You Afford That Car?
Posted in Other Money Matters | 163 Comments »
Friday, January 29th, 2010
We can reasonably expect Singapore to plunge back into recession at the end of this quarter. If it does, we will be the first country in Asia, and possibly the world, to experience a double dip recession in the aftermath of the global financial crisis.
Our economy first dipped into a technical recession in Q3 2008.
Advance [...]
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Double Dip Recession
Posted in Investment, Other Money Matters | 22 Comments »
Tuesday, December 29th, 2009
One good way to achieve financial success (i.e. make lots of money) is to do business. This is a view shared by one of the (few) millionaire forummers at Salary.sg Forums:
“- If I want to be rich, what’s your advice for me?
It seems to me that the only way to be rich for most who [...]
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Setting Up a Small Business
Posted in Other Money Matters | 10 Comments »
Sunday, December 13th, 2009
If you are a car owner, does your pay match your car ownership status? If you don’t have a car, how do you know whether you can afford one? In this article, Salary.sg proposes using $7,650 as an income guideline for car ownership in Singapore.
We all know that owning a car in Singapore is a luxury. [...]
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Car Owners: Do You Make More Than $7,650?
Posted in Income, Other Money Matters | 51 Comments »
