Friday, October 16, 2015

Withdraw CPF Medisave Savings above MMS by Dec 15 2015

For those above 55 years old, here is the last chance for you to withdraw your Medisave Account Savings above the current MMS (ie $43,500). You must submit your applications to the Board by Dec 15 2015.

However, because CPF has a special method of refunding balances in MA/SA/OA, it will be better for you to first submit a request (email) to CPF to calculate the amount you need to withdraw such that your MA balance will be reduced to $43,500. Then send a formal request online or by post using the withdrawal form to request the withdrawal.

CPF actually calculates interest on MA/SA/OA up to month of withdrawal, these will be refunded first, followed by other amounts. The formula is not disclosed at the website yet, oops, at least I cannot find, hahaha

Oops, there is no formal announcement by CPF Board nor is above written on the website. However, some information are hidden in the withdrawal form, take a look at the form at the website.

Thursday, October 15, 2015

Medishield Life vs Integrated Shield Plans

With the implementation of Medishield Life next month, would I still need my NTUC Enhanced Incomeshield Plan?

Two weeks ago, I had a fall and was sent to SGH A&E by ambulance. Doctors identified a dislocation of my hand at the left shoulder and managed to fix it back for me. Also had a big “bualuku” on my forehead, haha, it is still there now, but subsided somewhat with blueblack mark still there. Last week, doctor found a small fracture at my arm joint location.

I stayed at the observation ward for 1 night, was discharged next day noon, exactly 24 hours from admission. SGH submitted hospitalisation claim to NTUC, now waiting for NTUC to approve the claim. I guess I would be able to claim under NTUC Enhanced Incomeshield Plan (NEIP) for staying at least 24 hours in hospital. Should the claim fail, I would have to pay using my CPF Medisave account.

If I can claim under NEIP, how would I benefit:

  1. I'm covered by a rider which gives me 100% coverage, ie I dun have to pay a single cent for hospitalisation expenses. Under Medishield Life, I would still have to pay for deductibles and coinsurance.
  2. If I stayed at C ward, I'll be paid a daily cash benefit, as I'm entitled to B2 under NEIP.
  3. Now I have to pay SGH SOC for periodic followup checkups and physio. I can claim under NEIP for all outpatient expenses 90 days post hospitalisation. Medishield life does not cover this aspect.

So, I'll still keep my NEIP. However, yearly premiums are increasing. Until my medisave account gets almost depleted or when I reach 75 or 80 or thereabouts when premiums become so high, I'll terminate it and just live with Medishield Life. As by then, I'll enjoy higher hospitalisation subsidy from the government, hahaha.

(Oct 16 - received letter and cheque from NTUC, payment made to SGH and cheque is my daily cash benefit.  Thank you NTUC)

CPF Life Plans: Basic or Standard?

  1. A lower monthly payout is not a major concern for you.
  2. You have max Full Retirement Sum (FRS) in your Retirement Account (RA).
  3. You still have more than 60k in OA/SA/MA.
  4. With or without dependents.

When the CPF Life scheme was first started and my brother was required to make a choice, I advised him to opt for higher monthly payout as his income was/is low. He only has one child and I told him he need not worry about bequest to him as he should know how to take care of himself. At that time, I did not study the scheme in detail, only comparing monthly payouts and bequest amounts.

Now I study the plans in detail.

Under The Standard Plan:

1.  If I do not have dependents and should I die early after joining CPF Life, I do not mind donating my money under the Standard Plan to fellow Singaporeans in the CPF Life Pool since my beneficiaries will get less or nothing in bequest monies.

2.  However, should I not die early but instead suffer from a medical condition which causes me to be permanently unfit for any employment, to have a severely reduced life expectancy, or to be terminally ill, I would want to get more money back when exiting CPF Life. But under the Standard Plan, this is not possible as you can see from the lower Bequest Amounts you can get. The key reason why we will be getting a lower Refund Amount is the interest earned on CPF Life premium contributions, extra interests earned on CPF balances (first 60k) and CPF RA will remain in the CPF Life Pool: these are not considered your money when u exit. (hahaha, we dun know how they pay you back in the monthly payouts)


I have prepared a table below to summarise the above, highlighting the key differences between the Basic Plan and the Standard Plan. I'll base my decision, not on the monthly payout amount, but on more money back should I need to exit from CPF Life. CPF Life is an insurance plan, so it should do what it should do, ie provide me with funds when I need it most when I exit, not just monthly payouts. Choose the Basic Plan!

(CPF Board allows changing of plans now, you have to cancel CPF Life then rejoin at age 65. However, if the above assumtpions dun apply to you and you have been on CPF Life for some years, it might not be worthwhile to change now.)

Tuesday, September 15, 2015

Elliott Wave Theorist August 2015 PDF (Free)

Dear reader,

With the market action during the last few weeks, many investors have been operating in panic mode; subscribers to Robert Prechter's Elliott Wave Theorist haven't. Why?

Because they were prepared. Elliott Wave International prepared them for the 2007-2009 crisis, and they did it again. In fact, in the calm of Aug. 18, Bob wrote a sharp critique of the U.S. stock market in his newest Elliott Wave Theorist, in which he said to expect market "pandemonium." (His commentary was published the following day.)
"as shown in this issue, time and price factors call for an immediate end to this dream state. When the alarm goes off and the dreamers awake, it will be pandemonium in the stock market. As the next few charts show, time and price have run out of room. Together, these time and price events seem finally to have cleared the way for a stunning decline in US stock prices."
That's just a taste of what Bob predicted in this critical issue. You need to see the rest for yourself, and now you can.

Our friends at EWI have given us permission to share Bob's FULL August issue of The Theorist. Free. Read all 10 pages and see all 15 charts!

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About the Publisher, Elliott Wave International
Founded in 1979 by Robert R. Prechter Jr., Elliott Wave International (EWI) is the world's largest market forecasting firm. Its staff of full-time analysts provides 24-hour-a-day market analysis to institutional and private investors around the world.

Thursday, September 10, 2015

Will Stock Markets Crash like 1987?

Tomorrow is September 11 2015, 14th year anniversary of 911 attack!  (2x7)

Tomorrow is also Singapore's Election Day on her 50th anniversary of independence.

Sept 13 is a partial solar eclipse

What could happen from now till ......

Watch the Sky for Trends, many planets are busy in the sky, and a possible important pattern is in its formation, very similar to what happened in 1987.  Hmmm.... I'm waiting to see if history repeats!

I'm busy trading, shorting STI, HSI and Dow, making some money, hahaha

Watch for possible black swan event!  Watch watch watch.....

Wednesday, April 22, 2015

Saturday, April 18, 2015

Watch Out! Adam Cheng “Ting Hai” Effect

Wow!  Hang Seng Index Futures dropped more than 700 points last nightWill another stock market crash or crisis occur?   Why?  Watch the "Ting Hai" effect, the Adam Cheng stock market crash indicator is on!  And that coincided with my Stock Market Timing calculations!
Read the news below:
The Standard HK news on Tuesday, April 14, 2015

"If there's anything guaranteed to get television viewers on the edge of their seats at the moment, it has to be The Greed of Man.
And it's back next week.

The topical TV drama produced and aired by Television Broadcasts in 1992, whose lead character Ting Hai, played by Adam Cheng Siu-chow, pictured, made enormous profits short-selling Hang Seng Index futures, coincided with a slump of 20 percent in the index.

That set the scene for Cheng's ominous tango with a bearish stock market in the two decades that followed, thus breeding the dreaded Adam Cheng Effect, suggesting every appearance of the actor on the screen would ensue in an equity crisis.

With the stock market flying high, Hong Kong's largest broadcaster has decided to re-air the unwelcome soap opera on its noon slot starting on Monday.

TVB deputy director Tsang Sing- ming said the timing is good for the show, dismissing the unfortunate "effect" as a coincidence - one that repeated itself more than 30 times in 20 years."

Friday, April 10, 2015

SIRF 2015 Horse Shoe Pitching Competition?

Hmm....Singapore Turf Club/ SIA have yet to announce details of Singapore International Racing Festival 2015 Roadshows. Dates/locations of the 2 Roadshows have been announced, however, the detailed programme is not out yet. Will it include Horse Shoe Pitching Competition?

This year the first Roadshow is held on weekdays instead of weekends. Will there be Horse Shoe Pitching Competition then? How are the competitors going to join and practice? Interesting.  So, I suspect there might not be any competition, hahaha.

Roadshow 1 at One Raffles Place on April 23 and 24, 2015

Roadshow 2 at ION Orchard on May 2 2015

U.S. Investors Face a Giant, Historic Bubble

What you are about to read is highly contrary to the majority opinion on Wall Street ...

Then again, Wall Street also missed:
  • The 2007-2009 market meltdown,
  • The bear market in gold, silver and oil over the past several years,
  • The dot com bubble at the beginning of the millennium, and ...
  • Believe it or not, almost every major market reversal in history.
The following report is from three market analysts who forecast the major market reversals of 2000, 2007 and 2009 in stocks, in 2011 in precious metals, and just recently in oil and other commodities.

As a result, their subscribers were prepared to position their portfolios to benefit -- no matter the market direction. Now these three same analysts have a warning about tech stocks that you need to hear, right now ...

Suffice it to say that they think all the recent "not a bubble" talk is in fact a bunch of BULL (and we don't mean bull market).

See what they see, then you can prepare your portfolio to benefit, too. Read their just-published report, "U.S. Investors Face a Giant, Historic Bubble," now--read their eye-opening, highly contrary new report.

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About the Publisher, Elliott Wave International
Founded in 1979 by Robert R. Prechter Jr., Elliott Wave International (EWI) is the world's largest market forecasting firm. Its staff of full-time analysts provides 24-hour-a-day market analysis to institutional and private investors around the world.

Thursday, February 26, 2015

The State of the Global Markets -- 2015 Edition

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Consider yourself warned.

The global market outlook is far less rosy than the emperors with no clothes would have you believe.
  • U.S. stocks have recently hit new highs, pushing technical readings to hit off-the-charts extremes;
  • Gold, silver and bonds are in multi-year bear markets;
  • Investors in major markets around the world are exposing their money to unprecedented risks;
  • Regional economies recently said to be "recovering" are slipping back into recession;
  • And despite the multi-year rally in stocks, Main Street is still struggling.
  • Politicians and central bankers worldwide reassure investors that the credit crisis of 2007-2009 is nothing more than a footnote in market history -- despite the compelling evidence that it never truly ended.
  • Europe remains in turmoil, and Asia-Pacific regions and emerging markets are charting surprising courses of their own.
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  • It tells you what's really going on in the global marketplace.
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About the Publisher, Elliott Wave International
Founded in 1979 by Robert R. Prechter Jr., Elliott Wave International (EWI) is the world's largest market forecasting firm. Its staff of full-time analysts provides 24-hour-a-day market analysis to institutional and private investors around the world.

Thursday, February 19, 2015

Get Free $18 Angpow plus $3.88xx

From Matchmove Wallet Facebook :

“Send a Virtual Angbao to your friends this Chinese New Year. For every virtual Angbao that you send via your MM Wallet account, we’ll be giving all senders an 8% or 18% Angbao Bonus! Yes, we’re rewarding you for giving an Angbao!

Send to an existing MM Wallet account – 8% Bonus
Send to a non-existing MM Wallet – 18% Bonus

How it works:
1. Send a virtual Angbao to your friend via the “Transfer Credit” function in the MM Wallet! (Minimum amount to send: $12.50)
2. Choose to send via mobile or email
3. Get your friend to claim the credits!
4. Your Angbao bonus credits will be sent to your account when the promotion ends

You can even send a Virtual Angbao to your friends who do not have a MM Wallet account! Your friend will be prompted to sign up for a MM Wallet account when he/she receives the SMS or email notification.

PS: Don't forget to top up your MM Wallet first if you do not have sufficient balance in your account! “

Here's my tip for you to earn the 8%-18% Bonus plus 2x $3.88 signup bonus:

1 . If u are new to mmw, signup new account using my referral link so u will get the $3.88 signup bonus if u topup min $10. U can topup using credit card for instant credit.

2.  If u prefer to use your own money, then topup $225 (instead of $10). Or u can arrange with trusted mmw users to transfer money to u, then u transfer money back to them using the second account to earn another $18 bonus for the second account. $225x8% = $18 bonus.

3. Signup for another account for your relative/friend to whom u are going to send the angpao money of $225 using your own referral link and topup $10. You will get $3.88 for referral plus $3.88 for the second account signup bonus.

4. Send $225 to the second account. Receive the $225 into the second account.

5.  Wait for the various bonuses to be received based on the dates provided by mmw. U will get $18 + $3.88x2 for first account, $3.88 for second account (another $18 if u make arrangement with others)

6. If u like, transfer all money back to the first account and use the money for purchases online, pay telco bills or ......


From MMW facebook: *Terms & Conditions:

• This promotion starts on 16 Feb 2015, 9pm and will end on 22 Feb 2015, 2359 hours.
• Only successful credits transferred and claimed by recipients respectively before 22 Feb 2015, 2359 hours will be eligible for this promotion.
• Senders who transferred credits but their recipients have not claimed their credits after 22 Feb 2015, 2359 hours will not be entitled to receiving the Angbao bonus
• Users who want to do multiple transfers are encouraged to send to multiple unique existing MM Wallet users or non-existing MM Wallet users
• Users can be entitled to multiple Angbao bonuses. However, the maximum accumulated amount of Angbao bonuses per user is $18.
• Recipients who send money back to their senders will not be entitled to this Angbao bonus promotion
• All existing MM Wallet users can send to a non-existing MM Wallet account via mobile or email. Non-existing MM Wallet recipients must have successfully signed up for the MM Wallet and Virtual Card, and claimed the sent credits successfully in order for the senders to be entitled to the 18% Angbao bonus.
• Angbao bonus credits will be sent directly to your MM Wallet. Users are required to claim the credits manually within 7 days after they have been sent.
• The Angbao bonus credits will be sent to your MM Wallet on 25 Feb 2015.
• The minimum amount of credits to be transferred must be $12.50 and above. The maximum amount of credits to be transferred is $250.
• The maximum value of Angbao bonus credits that each user is entitled to is $18.
• Cancelled/pending transfers will not be entitled to receiving Angbao bonus credits.
• Promotion credits (eg: rebate credits, top up bonus credits) are strictly NOT exchangeable for any form of cash. Users who closed their accounts after participating in these promotions will have their unused credits forfeited.
• Accounts which have not successfully verified their identity will not be able to send credits if they have topped up their accounts once previously
• Users are required to verify their identity to claim the top up bonus credits.
• Users are required to use their full name as in NRIC/FIN to sign up for the MM Wallet.
• Users who signed up for a MM Wallet account using temporary mobile numbers or email addresses will not be entitled to participate in this promotion. Users are required to use their genuine personal details when signing up for the MM Wallet.
• This promotion is open to all new and existing MM Wallet users who are Singaporeans, PRs or foreigners who are holding Singapore work permits and residing in Singapore.
• MM Wallet reserves the rights to alter, modify and cancel this promotion at its own discretion.

Friday, February 13, 2015

DBS 3.96% Fixed Deposit CNY Promo

Wow! In conjunction with POSB 1.88% Deposit CNY Promo, DBS introduced an up to 3.96% pa Deposit  for 3mths for topup to the Multiplier Account!

This is very attractive especially for those who do not have a DBS Multiplier Account now and can meet the cashflow requirements to earn up to 2.08% pa interest.

If u can meet the 20k cashflow requirement, the First 50k deposit into the DBS Multiplier Account will earn 2.08% pa interest (mthly).

Then if u register for the DBS 3.96% pa promo, this First 50k will also earn another 1.88% pa interest for 3mths, or

If u register for the POSB 1.88% pa promo, this First 50k will also earn another 1.88% pa interest for 12mths.

That gives u 2.08% + 1.88% = 3.96% pa interest on the first 50k deposit. 

So open the Multiplier Account, register for the promo, transfer fresh funds into the account and start accumulating the cashflow!

Wow! I'm going for it!

What are u waiting for?

Friday, February 6, 2015

Monday, January 26, 2015

Deposit War Started by POSB 2.05% p.a.

Wow! POSB did not advertise the latest promotion of 1.88% pa, only quietly email to customers on Saturday (Jan 24) afternoon. Is it already too late to get the $88 Hongbao for participating in this promo, only first 10,000 qualified customers get it.  Hmmm... would all these have gone to themselves already on Jan 23, start of promo?

Even if u are not the first 10k qualified customers, you can still guarantee yourself more than $88 Hongbao if u join this promo with at least $64k of deposit. You only need to deposit the fresh funds by Feb 28 2015 but POSB pays you interest from Feb 1 2015 to Jan 31 2016 (12mths), ie you get one month of free interest/money for Feb 2015 ($64k*1.88%/365*27 days=$89), that's your Hongbao! The more you deposit, the bigger your Hongbao! As you get 12mths of interest for just locking in your money for 11mths, the effective interest rate is 2.05%!   Wow!

Wow! I'll be earning 3.23% p.a. Interest in Feb 2015 for keeping my money in my current bank account which pays 1.35% p.a. (now, might be higher in Feb 2015) while POSB pays me 1.88% p.a. for Feb 2015 if I register and deposit money into POSB on Feb 28 2015. Hahaha.

But I will not be putting all my money into this POSB basket come Feb 28 2015. The Deposit War just started, so I'm expecting other banks to be in the battle soon. OCBC also started by offering customers 2.35% pa for one month in their Bonus+ Savings Account promo, the effective interest rate is only 1.18% pa per quarter. So I'm moving most of my funds into this Bonus+ Savings Account in March 2015 to earn 2.35%pa for March 2015.

OCBC 360 account pays up to 3.05% pa for max 50k savings, without salary I only get 2.05%pa on a monthly basis.

Now I'm hoping SCB will increase the Esaver Interest Rate next month when the current promo ends on Jan 31 2015!

Are you joining this Deposit War Game to maximise your returns?

Should I keep my Whole Life Policies?

I have a whole life policy (death/tpd) and another 3 for CI/TPD/death. I no longer need insurance for death as I do not have any depe...