S. M. A. R. T. Investing with TSK

Have you applied for your Savings Account or Credit Card with Trust Bank Singapore, Singapore's digital bank backed by a unique partnership between Standard Chartered Bank, and FairPrice Group? REFERRAL CODE: BZACYE0F ( it is a number zero, not letter ) Get $35 worth of free Fairprice vouchers and other freebies by just Downloading the Trust App and Open a Savings Account online with the App, simple/easy within 10mins!: Get free $10 Fairprice E-voucher (no minimum spend at stores/online) by entering this code ( BZACYE0F ) when apply for the Savings Account. Get free 1kg Fairprice Rice voucher Get free Kopitiam Breakfast Toast Set voucher Charge one transaction to your debit card to get free Fairprice $25 voucher (no minimum spend, at stores/online). Hack: Do a funds transfer of $1 or $10 from your own bank to Trustbank savings account. Then Just add your debit card number to Grab App, authenticate with $1 charge/refunded to your saving...

  All high interest savings accounts are “bleeding” with the cut in interest rates by all local and foreign banks. Come January 2021, DBS Multiplier interest rates will also be cut! Although I can still earn at least 2% pa on DBS Multiplier, I had already planned to move my other funds to CPF to earn at least 2.5%pa come January 2021. Last month, I hesitated to make an “investment” which pays 5% pa monthly.  Now I regretted.  So I am thinking of this “investment”  to earn 5% pa mthly, if DOW continues to rise into next year (my next turn date per my “bible formula”). I am willing to take this small risk to earn the 5% pa mthly. Keeping my fingers crossed till the day I need to make my final decision!

F.I.R.E – Focus on Free Activities! Have you read about the F.I.R.E. Movement? Financial Independence, Retire Early Here is an interesting latest video on it. I do exactly those 4 key strategies to save money: Cut spending Cook at home Focus on free activities Autopilot savings To me, "Focus on free activities" is the most important as with it I automatically cut spending and able to save more. What do I mean by "Focus on free activities"? Activities to me are lobangs, where I can “earn” free money or other freebies which will help pay for my necessities, be it on food, groceries, or other spending. I am always on the lookout for such "free activities". Recently there were opportunities for me to “earn” 50% off groceries. Can you see the power of this strategy?

CPF@55  Policy Designed to Make the Rich Richer! Do you know that  CPF@55  policy can help you get richer with a bigger SA (Special Account Balance) after 55? Yes, provided your are rich with a big OA (Ordinary Account Balance) and SA which exceeds the FRS (Full Retirement Sum).  Assuming you have $240k (SA), $160k (OA) and FRS is $200k, this is how you can become richer after 55: 1.  2 weeks before your 55th birthday, buy a stable Unit Trust Bond Fund with $200k SA under CPFIS/SA investment scheme (minimum $40k SA must be maintained) 2.  On your 55th birthday, CPFB will transfer $40k (SA) and $160k (OA) to your RA (Retirement Account) to form $200k FRS. 3.  Next day, sell your CPFIS/SA investment of $200k, this will be returned to your SA. 4.  You now have $200k (SA) and $0 (OA) after RA is created! What happens on your 55th birthday if you did not do the hack (ie. step 1&3) above?  CPFB will transfer $200k (SA) to...

Yes, I found the relevant section/clause of the CPF Act on Offences relating to investments, see extracts below: A.  CPF Act Offences relating to investments     58A.—(1) No person shall, directly or indirectly, in connection with the making of any investment under any scheme in accordance with any regulations made under section 77(1)( n ) or the sale or disposal of any such investment —              (a) employ any device, scheme or artifice to defraud; or  (b) engage in any act, practice or course of business which operates as a fraud or deception, or is likely to operate as a fraud or deception , upon any person. (2) Any person who contravenes subsection (1) shall be guilty of an offence. B.   By a layman's interpretation of the above clause in the CPF Act, the "CPF Special Account Hack" should be classified as “an act which is likely to operate as a deception”, to deceive CPFB to tra...

DBS Multiplier Account Bigger from May1,2019! (updated with DBS announcement on May 1, 1.25am) Yes! Max cap at $100k!  But broken down into first 50k and second 50k,  with up to 3.65% pa effective interest, that's $3650 interest per year or $ 300/310 per mth! The best savings account to multiply your money at up to 3.65% p.a. with no minimum salary credit, no minimum credit card spend, and if u can hit a total of 4 categories, with total transactions of more than $30k per month! A.  And DBS teach you how to “Hack” if you do not have salary credit or do not have Investment Category, so u can still qualify to earn up to 3.5% pa interest, hurray! How to “Hack” Setup a Joint Savings Account (eg POSB savings account with You & Me) Giro You's salary to Joint Savings Account Giro Me's dividend credit from CDP to Joint Savings Account Bingo, all You, Me personal DBS multiplier accounts will earn bonus interest, w...

CPF Special Account Hack - Are You Ready? - Part 2 Questions: 1. Should CPF Policies/Rules be written to benefit the Rich Only? To make the Rich Richer? 2. Should CPF Policies/Rules be written to benefit those who know the “loophole” only? 3. Should CPF Policies/Rules be written to benefit those who know how to exploit the “loophole” only? 4. Should “tax payers monies” be “distributed” to benefit the above “elite” group of people who know how to Hack? Why does CPFB allow such Hacks to occur “undetected”? A. Investing via CPFIS-SA: CPFB Rationale “A member can choose to invest his SA savings above $40,000 under CPFIS-SA. However, all investments are subject to risk. Risk refers to the possibility of losing part/all of your investments due to financial market changes. Assuming a member has $200,000 in his SA and uses $160,000 to invest under CPFIS-SA. Although he can liquidate his investments after reaching 55, the amount of sales proceeds he will...

CPF Special Account Hack you must know to Retire Rich! Don't miss the boat to Retire Rich! What the Hack! We already missed the boat to Retire Rich? Yes, it is “approved”, written in the CPF Board website rules, but only if you know it and can see the “big loophole” created by policy writers! Here is how it works, as “approved” in the CPFB policies/rules: A. How is the Retirement Account (RA) created? When a member turns 55, a CPF Retirement Account (RA) will be created for him. The Board will first set aside his Full Retirement Sum (FRS) in his RA by transferring funds in the following account sequence: 1.    Funds in his Special Account (SA). 2.    If (1) is insufficient to set aside the FRS in full, funds in the Ordinary Account (OA) will be transferred to the RA to make up the FRS. Excess of the FRS (if any) will remain in his OA/SA which he can withdraw at any time. B.  Grow Your SA Knowing how CPFB creates the...

Boost Your OCBC360 Interest Rate to 3.55%pa from April 2019! Yes! You can easily boost your OCBC360 account interest rate to 3.55% pa on alternate months! Yes, if you can meet the salary crediting and credit card spend criteria, you can play this game. Here is how you should play this game to earn 3.55% pa on alternate months, giving you an average of 2.75% pa on $70,000! 1   Open OCBC360A (personal) and OCBC360B (joint with sibling, eg) 2   Mth0 = OCBC360A = OCBC360B = zero 3   Mth1 = OCBC360A = $70k (credit salary=1.6%+ credit card $500=0.45%+Stepup =0.45%+Boost=1%+Base=0.05%) Total = 3.55% 4    Mth2 = OCBC360A = 0                   OCBC360B = 70K (credit card $500=0.45%+Stepup =0.45%+Boost=1%+Base=0.05%) Total = 1.95% 5    Mth3 = OCBC360B = 0                   OCBC360A= 70K (repeat from step 3) ...

Wow!  Just saw in today's Sunday Times! Get $100 worth of NTUC Vouchers for every 10k fresh funds deposited into Passbook Savings Account, no limit!  Funds will be earmarked for 6 months. Plus get a limited edition Gold or Rose Passbook when you open the account at the branch! That works out to be 2% pa interest! I can get NTUC vouchers at 5 to 10% discount, so that is about 1.8% to 1.9% pa interest on 10k for 6mths!

Yes! You can easily boost your OCBC360 account interest rate to 3.26% per month on alternate months! Yes, if you can meet the salary crediting and credit card spend criteria, you can play this game! I used to play this game before OCBC removed the “boost bonus” in the previous Terms and Conditions. Many people also followed me to play this game and all started to terminate their OCBC360 accounts when the “boost bonus” was removed. Now the “boost bonus” is back, and OCBC can expect more OCBC360 accounts to be opened to play this game! Oops, provided savvy people know how! Here is how you should play this game to earn 3.26% pa on alternate months, giving you an average of 2.52% pa on $73,000 Open another OCBC360 account (eg. joint with sibling, Account B), transfer $70k into the account. Keep your first OCBC360 (Account A) at $3,000 with salary credit arranged Charge $500 every month for each of the 2 accounts. You need to arrange a credit card for the seco...

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 dependents and soon the whole life policies to cover tpd will end. I will still need CI, so I intend to keep at least one. So I decided to take a close look at the returns. Using interest rate calculator available on internet, I decided to work out the compound interest rate my policies are giving me. One whole life policy which I am paying monthly premium for more than 30 years is giving me about 5% pa compound interest, while another is giving me about 4%. I just received bonus payment on the policies and decided to work out the returns using the surrender values now compared to one year ago. Wow, one policy gives me a return of 11% pa for the past one year, while another 7% pa. Wow, then I should continue to transfer monies from my bank account to the insurer every month to earn higher interest right?    ...

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.

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: I'm covered by a rider which gives me 100% coverage, ie...

Assumptions: A lower monthly payout is not a major concern for you. You have max Full Retirement Sum (FRS) in your Retirement Account (RA). You still have more than 60k in OA/SA/MA. 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 inst...

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?

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 m...

Wow!  The latest goodie from OCBC Frank Credit Card!  Auto Topup your Frank Credit Card Nets Flashpay purse also enjoy 6% rebate into your credit card, provided you achieve a minimum spend of $500 on your card! Then use your Frank Nets Flashpay purse to pay for groceries at NTUC, Giant, Cold Storage, etc and other merchants with Nets Flashpay terminals, means you get to enjoy 6% rebate on all your spendings! Wow!  The only problem is each auto topup is limited to $50.  So manage your spending lor! I use the Frank Credit Card to topup my CPF monthly to earn 6% rebate - that's making the credit card my "source of income", haha.  Now I have to half it so I can use the remaining half for groceries and other expenses to enjoy the 6% rebate, including MRT and Bus rides, to save on expenses!

Just received my NTUC Fairprice Dividend and Rebate Notification for 2013. Wow!  Special dividend of 2.5% and Special rebate of 0.5% for 2013.  That's on top of the 5% dividend and 4% rebate declared.  Money already credited to my bank account, hurray!

Last night, I received Dividend FY 2012 notification letter from NTUC Income.  Dividend of 6% will be paid into my bank account on 10 Jun 2013.