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If you die without a will, your estate (or assets) will be distributed according to the Intestate Succession Act (link). The Sunday Times today summarized how the Intestate Succession Act works, simplifying it into 4 steps. There are in fact nine “rules” in the act, which I hereby simplify (caution: check with your lawyer to [...]
Much has been said about the benefits of term insurance. However, even though I’m a proponent of term insurance, I find it hard to buy term insurance. Why? I’ll explain in a moment. Meanwhile, did you read the recent Sunday Times article that was sort of promoting term insurance? It’s a good article (read it [...]
Channelnewsasia.com previously reported that “Singapore’s annual inflation rate hit a 25-year high of 6.6 percent in January (2008)…” and that was according to official data from Department of Statistics (DOS). I checked the recently released DOS figures for February 2008. The inflation rate was 6.5%. Contributing the most to the still very high figure are [...]
Read the full article at Can your Increment beat Inflation?[Update: the 2009 version of this post is here: Income Tax Calculator 2009.] It’s tax filing season again. Here’s the Income Tax Calculator for Year of Assessment 2008. Just enter your chargeable income (assessable income minus all applicable reliefs): This year, there’s a special 20% tax rebate for Singaporeans and PRs, capped at $2,000. For [...]
Read the full article at Calculate Income Tax 2008Or, put simply, a “discount” of 20% on your income tax. Finance Minister Tharman Shanmugaratnam has announced in his budget speech that all resident taxpayers will get a tax rebate of 20% for Year of Assessment 2008. I take this to mean that after you file your taxes this year (in April 2008), you will [...]
Read the full article at Income Tax Rebate of 20% for YA2008Last year (2007), there were 4,892 landed property transactions. As reported in yesterday’s Zaobao, the hottest selling are terrace houses. The median price is $1.55 million. Semi-detached houses came in second, with median price at $2.23 million. Bungalows transacted at a median price of $4.75 million. Can you afford landed property?
Read the full article at Can you afford Landed Property?Saying that luck plays a part in becoming wealthy is not the entire picture. Do you know that you can actually “boost” your luck? I’ve said a couple of times that luck plays a part. See this and this. But if you’re young, time is on your side. If you keep trying, you’ll be lucky [...]
Read the full article at No Try No StrikeWhy are there economic fluctuations? Why will there always be boom times and downturns? There are many theories: businesses and governments over-investing, banks over-lending, people over-spending, and even politics. Without doubt, there is always true underlying economic growth with all the innovations and true productivity improvement. However, the economy in the real world will always [...]
Read the full article at Why are there Recessions?As reported in the media, inflation is rising. To put it simply, the cost of living is going up, up, up. Contrary to “mainstream” strategy, which is to put your money in investments, I think the right way is to buy low sell high. And it is my firm belief that prices are high now. [...]
Read the full article at How Not To Beat InflationUnder the Baby Bonus scheme, the government matches the amount that you save in your child’s Child Development Account (CDA), dollar for dollar. The matching contribution from the government is capped at $6,000 for your second child, and $12,000 for your third child. The amount is also $12,000 for your fourth child. The CDA is [...]
Read the full article at Baby Bonus CDA Account
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