The Most Important and Overlooked Personal Finance Tip

Surprisingly, most Singapore personal finance blog only talk about equity and maybe a little bit more of other things. However, most didn't touch on the secret to achieving financial independence in the "easiest and surest" way. Living your best life, enjoying every single moment of your life, doing things because you want to, spending time with your loved ones...Are these not the reasons for you to have more money? Or it is about showing wealth to others, comparing gadgets with your peers, eating and facebook what overpaid food you just had or that overpaid travelling?


To begin with, you don't really need to have a lot of money to live well and with dignity in Singapore. Knowing what makes you happy and what your family needs will speed up your financial wealth. In another words, more saving from your income. This is provided your income is at the median range or above. Here is the news that reported on median income in Singapore: click here

If you think the amount is high, please note that it could have included bonuses and employer's cpf. Since this is household income, you will have to divide the $8,666 by 2 or 3 persons. For simplicity, let divide by 2.5 and minus off a bit of bonus and employer's contribution. So, it should be about $3,000 per month. If you are reading this blog and you are not a fresh graduate or students, this figure shouldn't be that overwhelming? I was told fresh graduate nowadays earn more than this figure.

I will do a simple calculation to illustrate my points why most people, including financial bloggers, think too much. Of course, there are some assumptions needed.

Age	Monthly Income	Yearly Income with only 1 month Bonus	Total Income for 2 persons	Saved 70% of income	Total Cashflow Saving at 3% Interest
24	2,800.00	36,400.00	72,800.00	50,960.00	52,488.80
25	2,884.00	37,492.00	74,984.00	52,488.80	106,552.26
26	2,970.52	38,616.76	77,233.52	54,063.46	162,237.63
27	3,059.64	39,775.26	79,550.53	55,685.37	219,593.56
28	3,151.42	40,968.52	81,937.04	57,355.93	278,670.17
29	3,245.97	42,197.58	84,395.15	59,076.61	339,519.07
30	3,343.35	43,463.50	86,927.01	60,848.91	402,193.44
31	3,443.65	44,767.41	89,534.82	62,674.37	466,748.05
32	3,546.96	46,110.43	92,220.86	64,554.60	533,239.29
33	3,653.36	47,493.74	94,987.49	66,491.24	601,725.27
34	3,762.97	48,918.56	97,837.11	68,485.98	672,265.83
35	3,875.85	50,386.11	100,772.23	70,540.56	744,922.60
36	3,992.13	51,897.70	103,795.39	72,656.77	819,759.08
37	4,111.89	53,454.63	106,909.25	74,836.48	896,840.65
38	4,235.25	55,058.27	110,116.53	77,081.57	976,234.67
39	4,362.31	56,710.01	113,420.03	79,394.02	1,058,010.51
40	4,493.18	58,411.31	116,822.63	81,775.84	1,142,239.63

Your family became millionaire family at 39 years old just like that. Do you need to stare at the annual report day in day out to get that wealth? Don't get me wrong, if you enjoy doing that, please go ahead. Also, it is good that you are capable to do investment, it is a bonus and it is a great skill. Not to use more time to buy money, and use more money to buy time later. 

There are people who think that being frugal must be living a miserable life trying to save money for that end goals. Actually, it is reverse. I spend my time and money the way I want with total freedom and I don't need to justify to anyone. I could be way happier than buying that new "toy" to show off to friends, you know. And, my lifestyle, is not anything less than an average Singaporean's. If you still think my income is "high" that why I can achieve early financial independence, look at my illustration again.

Here, I am wishing you a happy long weekend and may one day, we don't need to "labour" for our basic needs. Pampered? I earned it, not inheriting a single cent!

BHS Collapse - Pension all you Need to Know

Credit:Dominic Lipinski/PA Wire

Defined Benefit – DB Scheme

Employees provided with financial security when they tend to retire seem to bea useful aim for liable company.Several of Britain’s biggest firms have set up defined benefit – DB pension schemes over the years, which tend to reward the staff based on how much they seem to earn and how long they work. There are around 12 million active members in Britain during the heyday of the DB pension in the 1960s and 70s and it was clear that companies could not afford to support so many people in this way for decades after they had finished working and the long period of strong stock markets had concealed the worst of the problem in the 1980s.

Towards 2007, there were only 2,240 open DB schemes with an addition of 6,250 still paying out though closed to new members. This relates to more than 38,000 less generous defined contribution schemes. As for companies which are left with the gold-plated pensioners, even if they tend to have adequate funds to pay them, the long-term liabilities could be bigger than the business. The RSA insurance firm is just one FTSE 100 firm where its pension fund is many times larger than its own £5bn value of the market.

Pension Fund of Company Has a Deficit of £157m

When a company tends to get ruined, the first thought should be for the workers who will not only lose their jobs but their retirement income could also be at risk. Often a trouble company tends to have pension deficit and so it is the case with BHS, a respected British retailer that has been overtaken by changes in fashion. The present workforce at BHS of about 11,000 is dwarfed by the 20,000 people qualified to claim a pension.

The scheme has resources of over £400m though its deficit between its resources and disabilities is over £200m. It is estimated that the pension fund of the company has a deficit of £157m. Though the company had been struggling financially for some time, it has gone into administration which is a process wherein a company is controlled by a licenced professional who tends to run it in a way protecting creditors as well as the company directors. Presently administrators Duff and Phelps have been running BHS as going concern and if it does not discover new owners, it could begin the process of realising its assets to cope up with its debts.

Possible Buyers Apprehensive

As of March 31, 2015, the company is said to have £435m of pension assets which indicates the scheme was less than 50% subsidized. It is assumed that Sports Direct had held talks regarding buying some of the 164 stores of BHS together with a number of other retail chains who have expressed interest in purchasing part of the company or its estate. However possible buyers are apprehensive by the £571m pension deficit of the firm.

The Pension Protection Fund which was set up in 2005 tends to use an annual levy charge to all companies with DB schemes in order to support the one whose corporate sponsor tends to fail. The PPF has 220,000 current as well as prospective pensioners on record and intends to be self-funding by 2030. Rescue of BHS’s pension is set to be among the top ten largest deals though comfortably within the financial abilities of the lifeboat.

Removing a Toxic Danger from Your Residence

Mold spores can easily creep into your house. These invaders can come in on people's shoes and clothing, sprout because of moisture and water, and also develop because of poor housekeeping and inattentiveness to sanitation. If left unattended, the spores can grow into a toxic problem that can put you and your family at risk. When you are in need of services like inspection, cleaning, and mold remediation Maryland residents can find professionals ready to help you today online.

Diagnosing the Source of the Problem

Mold can grow in unexpected places and in areas of your home where you would never see it. Areas that are exposed to a lot of moisture like crawl spaces and attics are particularly at risk of developing mold.
Along with the attic and crawl spaces, however, other areas in plain sight can also develop mold, leaving you clueless as to how the spores got there or why the fungus continues to thrive. Bathrooms, bedrooms, and even kitchens can have mold in them and come from water spills that were never cleaned up, clothing that had spores on them, and other sources.

Even if you cannot see the mold, you can still have it discovered and treated when you hire professional services designed to trace the problem at its source. The technicians can come in and look in nook and crannies that otherwise may have gone left unnoticed. Once they find the fungus, they can then determine how it got there. You may need to mudjack your foundation, fix leaky shingles, or replace sub-flooring to keep future mold growths at bay.

Treating Your Home

It is crucial that you allow a professional to get rid of the mold for you, particularly if you or your loved ones have sensitive breathing issues and other health concerns. If you pour bleach on the mold, you only spread the spores and also expose yourself to toxic fumes. Likewise, any sponges or towels you use will have the spores on them as well.

A professional technician will have the right equipment and safety gear to get rid of the mold and prevent it from spreading. You also avoid coming into contact with chemicals that can hurt you.

Mold is a toxic fungus that can put your health at risk. You can have it detected and treated thoroughly by hiring a service to treat your home.

Leaving Behind Legacy

Leaving behind legacy for your loved ones is definitely a bonus. No one aim to cripple their family members. What is really important...is cultivating the right values. Without the values, there is no point owning a whole lot of fortunes.


Be kind to people. Poor people deserve it because they are lazy or don't work smart enough?

爸，我放学了！

金山银山不如人情山

Yellen The US is not a ‘Bubble Economy'

Yellen – Rebuffing Political Rhetoric – Bubble Ready to Burst

Janet Yellen, Federal Reserve Chair had touted recently on the strength of the United States economy, rebuffing political rhetoric recommending a bubble was ready to burst. Yellen noticing a healing labour market and a 5% headline unemployment number, had commented, `I certainly wouldn’t describe this as a bubble economy. Yellen had been on a panel with the earlier Fed Chairs Ben Bernanke, Paul Volcker and Alan Greenspan at the International House in New York and the U.S. central bank heads had discussions on the U.S. economy as well as monetary policy all over the world.

Yellen’s comment came soon after the Republican presidential contender Donald Trump’s disagreement that an economic bubble would erupt. She noted that she did not see `imbalances’ like `clearly overvalues’ asset prices. Though Volcker acknowledged that he saw some overextended pieces of the financial system he agreed stating that he does not believe that a bubble exists. Yellen adds that the global economy has been seen as a comparatively weak growth inspite of the positive signs in the U.S. Restrained approach had been taken by the Fed on raising interest rates this year after raising its target for the first time in almost a decade, in December.

Fed to Watch Carefully – Occurring in Economy

This year the policy committee of the bank now tend to project two rate hikes. Yellen has stated that she does not consider the decision taken in December as a mistake, since indicators during that time portrayed substantial progress towards the Fed’s labour market as well as inflation goals. Going ahead, he noticed the Fed would watch very carefully what is occurring in the economy.

The Fed had dealt with drooping global economy and U.S. inflation below its target, since it decides on how quickly to increase rates. The tightening path of the Fed came as other central banks all over the world including those in Europe and Japan tend to have eased. The policy committee would meet next on April 26 and 27. Some of the observers of the Fed have quizzed on how the central bank would react to a probable recession with policy already accommodative.

Yellen’s Comments – U.S. Stock Market Futures Dropped

On Thursday, Bernanke noticed that the fiscal policy `does not have a role to play’ on top of monetary policy. Greenspan added that the monetary policy should not have the whole load of battling an economic slowdown but he warned against creating more debt with increased government spending.

Yellen had also addressed a recent crusade by Minneapolis Fed President Neel, Kashkari who had floated breaking up large banks to increase financial system stability. She had observed that she shared the concern of Kashkari regarding ending firms’ `too big to fail’ status. However, she stated that the policies such as capital and liquidity needs and stress tests have improved the safety and soundness of the banking system. She commented that she feels more positive on the progress made.

She was also of the belief that the issue is within the purview of Kashkari, noticing that the decentralized structure of the Fed enables independent views. In the wake of Ms Yellen’s comment, the U.S. stock market futures dropped as traders processed signs from the Fed chairman that she would be willing to follow increases in interest rates in the future.

Taking a Complicated Financial Case to Court

Court cases that involve financial matters tend to always be delicate, if not heated and highly contested. You need the judge and jury to side with you if you hope to protect your assets and money. However, many juries lack the inside financial know-how when they are first seated for your case. You need someone to come to court to back up your argument and evidence. Along with retaining an attorney with this experience, you likewise may need to retain a consultant to provide advantages like expert witness testimony and explanations about why your argument is factual and deserving of the court's favor. You can retain this help today by going online and finding out more about the consultation services.

Explanations for Complicated Financial Matters

As noted, lay people typically have a working knowledge at best of complex financial terms and practices. They may not realize some of the finer implications that your case involves or why they should decide in your favor.

When you retain the consultation services of the firm, however, you get the help of an individual who has years of experience in the financial industry and can break down the terminology so that any jury can understand it. This person can also go into detail about why your argument is the most valid and why the other party in the case may be taking advantage of you or simply mistaken in their own arguments.

The consultant can help in cases that involve financial matters like bankruptcy, loans, and other banking practices. The service also may come in handy for cases that center on collection or credit issues.

The consultant can work with your attorney and you to ensure that your case is as solid as it can be before it goes before the judge and jury. You may be able to protect your own finances with this additional legal help.

Contact and Resources

When you are ready to retain this help, you can use the contact options found on the website. You can call or email the company directly.

You can also find resources that may help you understand your own case better. The resources link is found at the left side of the page.

Financial cases need to be competently presented in court. You can make your case stronger with the professional consultation services of a financial expert.