tag:blogger.com,1999:blog-59794506655919557902024-03-14T05:58:20.036+08:0035 is the defining ageRetireby35.SgStylehttp://www.blogger.com/profile/15736910260855155490noreply@blogger.comBlogger93125tag:blogger.com,1999:blog-5979450665591955790.post-848406155947433292024-01-29T18:33:00.002+08:002024-01-29T18:33:16.126+08:00F.I/[R.E] and relationships <p>Financial independence can be distilled down into a simple formula. </p><p>Income >= Expenses. </p><p>There are different degrees of F.I. but the common notion is that you are only really F.I. once your level of passive income surpasses your expenses to a certain degree. </p><p>In any case, consider a fresh graduate out of school trying to get to a state of F.I. </p><p>It is really quite formulaic - 1) maximize your income and replace income that is earned trading your time with that which is earned via capital; and 2) reduce your expenses. </p><p>There are many ways to go about part 1) but the focus of this article is on the fundamentals of part 2 above and the main factor that drives it. </p><p>In my humble opinion, in the context of Singapore and discussing this purely from an expense point of view, whether you can get to F.I./[R.E], how fast you can get there and remain there will depend on certain major factors described below, not whether you can suffer on S$3.50 cai png vs the need to consume S$20 avocado toast. </p><p>Sure - it all adds up, but I believe these 3 factors are the big ones that can cause massive impact on your journey. I think the pareto principle holds true here. </p><p><b><u>Key Factors</u></b></p><p>1) <b>Your partner in life</b> - Basically the person you will be living with in a long term relationship, whether its through a marriage or just a simple long term partnership. <br /><br />2) <b>Your accommodation</b> - I believe everyone needs a base of operations. Some prefer HDB which goes for a minimum S$300k, but others prefer a private apartment which will be at least 2 to 3x the price. <br /><br />3) <b>Your transportation</b> - Need to own a private vehicle? If you want one with four wheels, that's at least S$10k per annum in running costs. Two wheels might start at S$2.5k per annum. Unlimited public transport in Singapore will cost you S$1.5k per annum. </p><p><b><u>What is the one major factor that will drive your F.I./[R.E.] process?</u></b></p><p>My own personal experience is that the choice of your partner will not only drive your path of F.I./[R.E.], but will also determine whether you will remain F.I./[R.E.]. </p><p>This is because your partner will generally have a say (I guess for chauvinists it might be different) in the lifestyle aspirations for the both of you. And these aspirations will revolve around: </p><p>1) <b>Housing aspirations</b> - Where and what kind of housing do you both want to stay in? <br /><br />2) <b>Lifestyle consumption aspirations</b> - Do you want to travel and how flash you both want to go? Where do you want to do most of the boring day to day eating? How do you want to get around Singapore? <br /><br />3) <b>Children</b> - Do you aspire to build a nest for 2 or do you want to play the game of life on hardcore mode and build a family in Singapore?<br /><br />4) <b>Career aspirations</b> - How ambitious are the both of you in rising to the top of rat race? Do you love your jobs or are you the sort that work to get paid to live ? Do you want to set up a business of your own which requires a heavy infusion of capital? </p><p>5) <b>Familial obligations</b> - Do you or your partner need to support your immediate family? Maybe you have ailing parents who actually require financial support, or perhaps a younger sibling whom you need to help foot their education expenses? </p><p>6) <b>Others</b> - The list can go on.</p><p><b><u>Qualities I look out for in a partner</u></b></p><p>So what do you look out for in a potential partner? </p><p>I'm not an expert in this field, though I have been through a couple of relationships since my junior college days, and in my experience, I found the below qualities to be important attributes:</p><p>1) <b>Compatibility of aspirations and values</b> - Are your aspirations largely compatible? How about your financial values? What is your lifestyle consumption habits like vis a vis your partners'? How about thoughts on contribution to household and life expenses - do you go 50-50 or you have to take it all on your chin?</p><p>2) <b>Conflict resolution style</b> - How do you both resolve conflict, which will invariably come up. Is there a mechanic which you can find some common ground in how such situations are taken care of? Basically can you work together as a team to face life? </p><p>3) <b>Openness to experiences</b> - Do new experiences generally invigorate your partner, or does it cause terror and fright. Does your partner prefer routine instead of trying to deal with new experiences, whether sought after or imposed upon? </p><p>5) <b>Ability to learn and adapt</b> - Is there a desire and ability to learn new tricks? How adaptable is one to changes, such as work requirements or lifestyle changes, especially in a situation where income is not exactly regular and subject to the vagaries of the stock market? </p><p><b><u>Personal experience</u></b></p><p>Readers who have been with me from the start would probably know I only found my partner 5+ years ago in 2018 when I left banking - certainly helps when you have a clearer head and more control over your time. </p><p>We dated for a while and decided to get married in mid 2022 - I have my own views on marriage in Singapore but that is for another topic. </p><p>In all aspects, I must say I am a really lucky guy for being to find a gem like her, what more through one of those dating apps - a really curious personality who is open to new experiences with an ability to adapt and desire to learn and improve herself, and I am very grateful that she is in my life. </p><p>From a financial standpoint, although her income levels then was slightly below the median in Singapore (creatives really do not get rewarded financially (at least at the start) in our society), I found the following behaviors to be positive and helped to give me the green light: </p><p>1) <b>Contribution to expenses</b> - An early indication was her desire and actual contribution to lifestyle expenses on a joint and equal when it comes to eating out and traveling. </p><p>2) <b>Living below her means</b> - Although her income was not high, she still managed to save money no matter how small the quantum. </p><p>3) <b>Ability and desire to learn</b> - She is open to learning and improving herself in life. Be it financial knowledge and investments, budgeting works, etc, she is always looking to learn new things which might be helpful to her</p><p>4) <b>Openness to experiences </b>- Let's just say she has an open mind especially when it comes to how people live their lives, otherwise she would not have dated a "guy on extended sabbatical". I think we both have the shared belief that as long as you are financial responsible for your own expenses, you can choose to live the way you like. </p><p>Perhaps for the single folks who are on your on financial independence journeys out there, maybe this list of qualities might be helpful if you are actually looking out for a partner, because this will help to mitigate any conflicts that might arise down the road. </p><p>Maybe the other topic of interest is how do my wife and I live well together and share the financial burden, despite having different lifestyles - she is currently working full time, having found her groove in another industry that pays well, whereas I have been on an extended sabbatical for 8 months and counting. </p><p>But that is another topic for another time. </p><p><b><u>Remind me again - what is the one constant in life?</u></b> </p><p>Having said all that... the kicker for the spiel above is that such aspirations and values can change even though it might initially be green lights on all fronts. </p><p>That is because your partner will change. </p><p>You will change. </p><p>Say maybe you start off working and think to yourself - all jobs suck balls, fuck I really want to hunker down and get F.I./[R.E.] ASAP. </p><p>But after 10 years of living like a monk and working your job you realise hey maybe I have a bit more autonomy now and it is more tolerable and I enjoy this and that aspect, what the heck... </p><p>Or you both started off not wanting kids, but 5 years down the road, suddenly you want a human kid and not just a fur-kid. </p><p>Or maybe your partner didn't mind a HDB flat last time but upon seeing all her friends upgrading, she decided she wants to stay in a private apartment now? </p><p>The list of potential conflicts that could arise is endless. </p><p>What do you do then? </p><p>The simple truth is I do not know - I am simply making life up as I go along, but I suspect such situations will resolve according to your individual priorities and how you work together as team in melding those priorities, so it comes down again to values. And I do find that it does help to be on the same pages in those aforementioned items at the start. </p><p>But perhaps the wiser and older people with more relationship experience can help shed some light in these aspects? </p>Retireby35.SgStylehttp://www.blogger.com/profile/15736910260855155490noreply@blogger.com0tag:blogger.com,1999:blog-5979450665591955790.post-40118874045575302882024-01-26T12:36:00.003+08:002024-01-28T23:13:42.164+08:002023 finances and net worth thoughts <p>Hope everyone has had a great start to 2024. </p><p>Well, I reckon I could have had a better start. </p><p>Been battling a bug and sinus infection in the early weeks of 2024, but it looks like it is more or less healed up now. </p><p>Certainly serves as a timely reminder that good health is a foundational piece to live the good life. </p><p>Anyhow, I had some time to take a look at my finances for 2023 and this mainly serves as a pulse check now I have the time to sit and reflect for a bit. Personal financial planning and analysis - lol. </p><p>In 2023, my total spending excluding rental and parental allowances came up to about c. S$65k or S$5.5k per month. </p><p>My share of the rent and parental allowances came up to be c.S$31k or S$2.5k per month and I reckon this will come down by a few hundred per month in 2024 as my partner ramps up her contribution to the rent, and it will probably come down to S$1.5k per month once I get the keys to my BTO flat. </p><p><b><u>Expenses</u></b></p><p>1) The largest contributor to the expenses line in 2023 was undoubtedly travel as total category spend came up to be c. S$28k, or c.43% of total spend. </p><p>To give some context, this was the schedule of travel in 2023: </p><p>1) c.2 months in Europe across France, Portugal, Spain and the United Kingdom over 2023; <br />2) c.3 weeks in Japan;<br />3) c.2 weeks in Vietnam;<br />4) c.2 weeks in Hong Kong and Bangkok; and<br />5) c.1 week diving in East Malaysia <br /></p><p>So it works out to be close to 4 months overseas in 2023, or 33% of the time. I do think this expense might potentially drop in 2024 as I am contemplating basing myself more in Singapore to focus on building routines to develop and improve my skills. But hold that thought as contemplation is still underway. </p><p>2) The second largest category was Food & Beverage, or expenses for dining out. This totaled S$13k, or c.20% of total spend. </p><p>We do eat out as a couple quite a bit, even as we are currently trying to move towards home cooking for some part of the week. Alas, there ain't much insights to be had in this category. The highest single expenditure for each meal was perhaps c.S$350 and these were limited to special occasions.</p><p>I do think this might rise in 2024 though, given inflationary conditions and if I actually stay in SG more often. It is quite expensive to live in Singapore comparatively to the other places that I have visited last year.</p><p>3) The third largest category was surprisingly "Gifts" and that came up to be c. S$5.6k or c.9% of the total amounts. Weddings, birthdays of loved ones, ang pows for CNY and some treats for my old team at work over the course of the year to keep these guys going and motivated.</p><p>Now that I am an unemployed and unproductive member of society, I am going to heavily underweight the CNY ang pows and be more selective of the weddings I attend, especially when it comes to the extended family.</p><p>In summary - while the headline monthly expense of S$5.5k has surpassed my original FIRE budget (back in 2018) of S$4k, I think 2023 was an extraordinary year and I do expect expenses going forward to moderate accordingly within reason. </p><p>That said, I do have some other thoughts on my increased flexibility towards expenses vis-a-vis experiences that I would probably espouse on in another future post. <br /><b><u><br />Net Worth - Total Resources and Total Liquidity </u></b></p><p>I thought it might be helpful for the F.I.RE aficiondaos out there if I gave a breakdown on how I measure my net-worth while embarking on my F.I.RE plans. </p><p>For measuring my own personal finances, I divvy it up into various categories below: </p><p>1) Pure Cash and Deposits on Hand ("<b>Cash</b>") - Cold hard cash split into various traditional and digital bank accounts earnings meagre ST interest and also staggered ladder of T-bills. This is used to pay for my daily operating expenses. <br /><br />2) Cash Equivalents ("<b>ST Trading</b>") - Once used primarily by me to convert USD into SGD given the best exchange rates on market, this has morphed into a short term trading account where I test out various stonk strategies, like selling options, short term growth stock trading etc. </p><p>This was only set up in 2020 and is currently 40% underwater due to perfect market timing and a lack of knife juggling training lol. This account is fully fungible with Cash and will be liquidated to supplement lifestyle when Cash runs low. <br /><br />3) Central Provident Fund and Supplementary Retirement Scheme ("<b>CPF/SRS</b>") - To the uninitiated, the Central Provident Fund is Singapore government's version of social security, with mandatory employer and self contributions which are awarded certain returns that are risk-free in nature. It comprises the Ordinary Account, Special Account and Medisave Account. </p><p>I do utilize past contributions to my Ordinary Account for investments under the CPF Investment Scheme and this has been performing reasonably above the OA rate of 2.5% since I first started investing. The sole purpose of my OA is to fully cover my share of the HDB flat. I leave my Special Account alone as the base 4% rate of return is hard to beat and try to refrain from touching my MA (currently at maximum level) given the 4% rate of return. </p><p>The Supplementary Retirement Scheme allows S$15.3k of tax deductible contribution annually, and is subject to a penalty and tax payment if this is withdrawn before your applicable statutory retirement age (was 62 when I set it up years ago). <br /><br />This source of funds largely acts as a back-up in a shit hits the fan situation and I need an urgent emergency cash infusion. </p><p>There are penalties to be paid but it will be lower than the tax rate I had to pay if I did not do these contributions then. <br /><br />4) LT Investments ("<b>AUM</b>") - This forms bulk of my net worth and is invested in a globally diversified managed fund across more than 1,000 equity counters. There is nil leverage involved and the fund solely invests in equities. </p><p>This is the account where I am supposed to perform the much vaunted "safe withdrawal" method when my Cash and ST Trading starts running dry. But you know what the experts say - safe withdrawal also can make babies and cause you to change your plan lol. </p><p>5) Other Investments ("<b>OI</b>") - This is my highly illiquid account which comprises private direct equity investments and crypto (only BTC and ETH). Also holding a right to receive liquidation proceeds from HodlNaut which I am ascribing a value of donut.</p><p>6) Employee Share Option Plan ("<b>ESOP</b>") - This is the see-through value of my equity I have earned with the start-up i worked for over 2.5 years, with a hefty discount applied on it. <br /><br />I would think I do have a good handle on what the right discount is to apply since I actually led the fund raising efforts, but given the illiquidity and binary nature of things of such ESOP in these market conditions, even though the ESOP on a post discounted basis contributes to 20% of an aggregated list of items 1 to 5, I will be giving this a big 0 and excluding it from my net worth thoughts. </p><p>As of 31 Dec 2023, this is the split of contribution for items 1 to 5 above: </p><p>1) Cash - 8%<br />2) ST Trading - 4%<br />3) CPF/SRS - 18%<br />4) AUM - 69%<br />5) OI - 2%</p><p>I like to think of this as a indication of "<b>Total Resources</b>" on hand. </p><p>To think of if in even tighter terms, lets see the breakdown of what I like to call "<b>Total Liquidity</b>" since these can be liquidated at ease to serve life purposes. </p><p>1) Cash - 10%<br />2) ST Trading - 4%<br />3) AUM - 85% </p><p>As of 31 Dec 2023, my cash runway (summation of 1 and 2) before drawdown of AUM is roughly 5 years, so I do hope that it will help alleviate any sequence of returns risk and allow my AUM to grow in the market before I actually need to enact drawdown actions. </p><p>AUM did grow 8% in 2023 which contributed to Total Resources growth of 6% despite having zero employment income for 7 months, and this gives me some confidence going forward. </p><p>Separately, I do feel that to go 5 years without any income at 38 years old is quite improbable, which is another one of these thoughts that have surfaced quite quickly during my second time taking a F.I.R.E sabbatical. </p><p>It is a bit hard to put a pulse on things, and might be worthwhile expounding on in a future post, but generally doing this sabbatical for the second time has given me more confidence to adapt my plans accordingly and not dwell too much on the numbers or get into a form of "analysis-paralysis". </p><p>In any case, hope this post is somewhat helpful to the public, as it is to me in reflecting on the state of my personal finances in 2023. </p><p>Wishing all readers good health to come in the upcoming year of the Dragon! </p>Retireby35.SgStylehttp://www.blogger.com/profile/15736910260855155490noreply@blogger.com2tag:blogger.com,1999:blog-5979450665591955790.post-42369045315538982102023-10-16T17:46:00.000+08:002023-10-16T17:46:01.953+08:00Live off the land? One Hamlet, One Family is an example to think about <p> <a href="https://www3.nhk.or.jp/nhkworld/en/ondemand/video/5001370/?fbclid=IwAR3EYlSwm1XSKBMvByyd1kA2_HsQxoeCdfwihlwU40PHYhK62wCxPe7ZhLY" target="_blank">One Hamlet, One Family</a></p><p><https://www3.nhk.or.jp/nhkworld/en/ondemand/video/5001370/?fbclid=IwAR3EYlSwm1XSKBMvByyd1kA2_HsQxoeCdfwihlwU40PHYhK62wCxPe7ZhLY></p><p>Came across this video above, describing a Japanese man who moved to an abandoned hamlet in Akita, Japan to set up a life of self sufficiency in 2012, after the 2011 tsunami in Fukushima impacted his life. </p><p>Soon after, a woman came into his life, and they had kids, plus two dogs. </p><p>The video captures their thoughts and their journey over the last 10 years. </p><p>I find this really intriguing as one of my far flung pipedreams is to be able to live off the land and not have to depend on modern society or anyone at all. </p><p>Anyway just sharing some of my takeaways from the c.50 mins video: </p><p><b>1) Would you want to suffer for your ideals? </b></p><p>I guess in all aspects of life, there is suffering. When you go to work for employment, there is the suffering of having to "do your job". </p><p>Likewise, even if you choose another lifestyle, such as an early retirement, there is another type of suffering for that as you have to give up some important aspects, probably comfort, certainty of a pay cheque, and immediate commune with other beings. </p><p>You can only choose your suffering and make the best out of it. Hard work is required in all aspects to have a life well lived. </p><p><b>2) Money is still useful.</b> </p><p>In this world of today, even if you have self sufficiency and can grow your own food, you still need money as a medium of exchange to facilitate your desired lifestyle. </p><p>There is no running away from that, unless you can really live off the land in absolutely all aspects for a indefinite period of time. </p><p>So perhaps the right move especially in the Singapore context is to figure out the money problem first, being deciding what lifestyle you want to live. </p><p>But more often than not, once the money problem is sorted, the lifestyle follows along, like a shadow. </p><p><b>3) Community is important.</b></p><p>No man is an island. Humans are social creatures and need connection. One can only go so long without social connection. </p><p>It is of paramount importance to find community in daily life. This can be in the form of friends, family, communities (say investment circles, telegram groups, etc) or even your workplace. </p><h4 style="text-align: left;">4) Having kids certainly changes the picture</h4><div>Sometimes I do think whether I am missing out. But I like my games on easy mode, and to me having kids is like playing life on hardcore mode. </div><div><br /></div><div>And this is quite evident where the protagonist of the video talks about his desire to give his kids more opportunities in life to find happiness and a life that they enjoy. </div><div><br /></div><div>Which means he needs income. </div>Retireby35.SgStylehttp://www.blogger.com/profile/15736910260855155490noreply@blogger.com0tag:blogger.com,1999:blog-5979450665591955790.post-50359322814647499612023-08-15T18:51:00.002+08:002023-08-15T18:51:21.423+08:00Quick update on F.I.R.E since Sep 2020<p>It has been almost 3 years since I last posted and thought it might be worthwhile to update this blog on a gist of what has happened since September 2020. I'll keep this one short since I have to jet off in a couple hours. </p><p><b><u>tl;dr - Started full time employment since late 2020 and put my nose to the grind again for more than 2.5 years. Left full time employment and back to the beach since late 2Q23.</u></b></p><p>Nothing like a pandemic to force one back to the drawing block. It became pretty crystal in 3Q20 that the pandemic wasn't like SARS. It was here to stay for the unforseeable future and like it or not, everyone was going to be grounded. </p><p>So since we are going to be locked down for some time anyway, I thought perhaps I might as well find a full time role. Was offered a position to return back to banking, and another one with a local startup to be their guy to do finance things. </p><p>I was not very smart - my decision was to join the hype train and embrace start-up culture. Well the thought process then was along the lines of after spending time in investment banking, how tough can a start-up get? Maybe its a reduction in pay but surely there's a some kind of intangible experience to be had? *nervous laughter* </p><p>To surmise, it was a very very tough 2.5 years but in hindsight, I did learn a whole bunch of new skills. built a team from scratch, raised a lot of money, invested moneys for a corporate and well I got a seat to get on the pirate ship and drive certain key decisions. </p><p>Made a decision post a round of fund-raising to get my old life back. So here I am back in the wilderness after a pretty intense 2.5 years. I would say it was more intense than banking. </p><p>That said and work aside, the last 3 years have been pretty nice in other ways. Met my partner in life since 2018, moved out to rent together, bought a flat and got married, though no kids (at least that I know of). </p><p>Feeling pretty grateful in life right now, and eager to explore the wilderness in my 2nd time out. </p><p>Separately am also sharing an article that was shared with me. </p><p>Hope you guys who are pursuing FI(RE) might find this as useful and interesting as I found it to be. </p><p><a href="https://knowledge.insead.edu/career/fulfilment-and-fire-movement-realities-life-after-early-retirement">https://knowledge.insead.edu/career/fulfilment-and-fire-movement-realities-life-after-early-retirement</a> </p><p><b><u>tl;dr - summaries the challenges and broadly categorises FIRE folks into three different profiles.</u></b></p><p>Let me know if there are any questions I can help address. </p>Retireby35.SgStylehttp://www.blogger.com/profile/15736910260855155490noreply@blogger.com7tag:blogger.com,1999:blog-5979450665591955790.post-41837821851346407292020-09-15T15:59:00.001+08:002020-09-15T15:59:18.413+08:0024 months of F.I.R.E<p>Time really does fly by in a blink of an eye. </p><p>It has been more than 2 years since my F.I.R.E journey began, which makes it a good time to evaluate the evolution of my journey, especially over the last 12 months. This post can be read in conjunction with my reflections of the <a href="https://retireby35-sgstyle.blogspot.com/2019/09/12-months-of-fire.html">first 12 months of my post F.I.R.E journey</a> for a more holistic view.</p><p>Here's a friendly notice upfront that this is going to be a long read. </p><p><b><u>What have I been up to since 1 September 2019?</u></b></p><p><u>Travel</u></p><p>The tail end of 2019 passed really quickly, and a large part of it was spent overseas. I spent about <a href="https://retireby35-sgstyle.blogspot.com/2020/01/two-months-in-italy-living-la-dolce-vita.html">2 months or so in southern and middle Italy</a> and Istanbul from end September to end November, and about 10 days in Kluang for a Chan meditation retreat during the early part of December. </p><p>Was in Malacca for a buddy's wedding in end December, and spent half a week in Bali to celebrate my partner's birthday in February, which was the last time I set foot overseas since. Kinda helped that one of my aims during the 2nd year of F.I.R.E was to ground myself more, which meant less travelling and more day to day normal living. </p><p><u>Diving</u></p><p>I started the PADI Divemaster program in September 2019, and just managed to complete the course requirements over the last two weeks. Given the stop start nature of things, what could have been be a 3 week full time course took close to a year to complete in earnest. It was a great course with loads of learning, and I spent quite a lot of time diving in Pulau Hantu, with the highlight being a clean up trip at Sisters' Islands. I didn't realise how diverse Singapore waters are, and some of the coral and marine life here are certainly sights to behold. </p><p>While I now have an option to help out in professional teaching and guiding for a very small fee, I don't think I'll be doing that much going forward, given the low payoffs involved. </p><p>But one thing is for sure - I've grown very much to love diving, and I can imagine it being something I'll enjoy during this lifetime. </p><p><u>Yoga</u></p><p>Signed up a 1 year membership since I got back from Europe last year and have been continuing to attend classes. In a bid to further develop my practice, I had signed up for a 200 hour yoga teacher training program originally scheduled for June 2020, but it got cancelled given the COVID-19 situation. </p><p>I still practice on a regular basis, and I do feel it has helped me with increasing my flexibility and body strength, with added balance to my mind. </p><p>Aside from the above, of course there was the normal day to day relaxed living, spending time with my partner (who started to embark on her own freelance writing journey since coming back from Europe) and loved ones, gaming, reading, watching Netflix, meditation, just generally chilling and.... </p><p><b><u>A return to (part time) work</u></b></p><p>I guess you folks can call the Internet Retirement Police (IRP) on me and flip me the finger, because I've returned to work. Well, that's part time employment to be exact. </p><p>COVID-19 hit our shores in 1Q20, and the sense of foreboding, slowly but surely, came true. To be frank, I didn't quite expect the fallout we are seeing now (and that is yet to come), but it didn't really affect me financially. I was still chilling and living my F.I.R.E life. </p><p>In late March 20, shit really started to hit the fan in Singapore and contagion started spreading globally like wildfire. That was also the time when I got really lucky - an opportunity presented itself where I could work part time for a financial institution to help with structured debt transactions, given the scarce supply of liquidity in the global markets, and the heightened demand for it led to more deal flow coming in.</p><p>It was very much a consulting role, where I didn't have to quarterback any transactions, and I could work largely according to my own schedule. </p><p>The increased probability of a lock down then, the desire for further "professional intellectual stimulus", other positive externalities, coupled with considerable incoming cash flow that could potentially help with mortgage financing, made it a no-brainer to take on the role.</p><p>It's been more than six months now that I've been doing this part time gig. I've put in more than 220 hours of services, helped to look at some potential transactions and closed 2 transactions with the firm. </p><p>All in all, putting aside the cash consideration, it has been a good gig and use of my time. Learned quite a number of things about different geographies and new ways of thinking, and I must say that I quite enjoyed the work, where a large part of it was desktop analysis of different potential investments. It certainly did have its stressful moments, but it has been an interesting endeavor where I felt like I really used my brain and could apply some of the expertise that I had gained in my professional life. </p><p>However, I don't think this part time gig is going to be a staple in my life going forward. </p><p>Times are bad and that led to crunch time for the firm. Where there are bodies, there will be vultures. And there were loads of bodies then. But eventually things will normalize, especially when investment targets have been met.</p><p>I must say that I was actually quite surprised that I quite enjoyed working again, at least on this part time basis where there was a good level of autonomy and ability to control my life, and perhaps doing some kind of work which combines meaning and autonomy might be something I could look to in the future.</p><p><b><u>Financing my F.I.R.E lifestyle</u></b></p><p>After 2 years of F.I.R.E, I would like to touch on personal finances. Aside from the monthly expenses budget of S$4,000 that I've shared, I notice I had not delved much into my F.I.R.E retirement budget planning, so perhaps this is a reflection on plans vs reality. </p><p>Back in March to May 2018, I did the math and decided I could F.I.R.E with passive income of 1.93x cover of expenses and the basis of a small out-performance of investment returns against expenses. To be conservative, I set aside 4.75 years of expected expenses in highly liquid resources (think cash, fixed deposits, etc.), that was separate from my investment portfolio, just in case you know shit hits the fan and what not, resulting in negative sequence of returns and a potential mandatory conscription back to full time employment. </p><p>To be honest, I expected my investment portfolio to be generating solid returns, like it had been since day 1, but I thought it's better to be safe to have some cash stockpile to draw down from, instead of tapping the investment portfolio straight from the get go. </p><p>Well... let's just say value investing not being in vogue over the last 2 years and the COVID-19 crisis playing out have largely led to an investment return of negative 6.2% per annum since 31 Aug 2018. In layman speak, my invested portfolio has decreased by 11.9%. </p><p>This basically meant that if I didn't F.I.R.E with sufficient cash stockpile to draw down immediately from, and if I had lived YOLO outside my budgeted expenditure, I think it would have translated into looking out for full time employment really soon, which would have been a double whammy given the economic climate and retrenchment numbers. And it will undoubtedly, be extremely hard to get full time employment on decent terms in this market. </p><p>You would think with 4.75 years of cash stockpile, seeing your investment portfolio suffer a decrease of 11.9% wouldn't have much of an impact on your well being. That's quite true at this point, but I'm speaking as of the point of 31 Aug 20. </p><p>To encapsulate the point, as of 31 March 20, my invested portfolio was down 22.7% from 31 Aug 18, and my cash stockpile was 3.56 years, and that was because I had received an unexpected small inheritance. If not, my cash stockpile would have been 2.38 years. To say I wasn't even a wee bit concerned then would have been a massive lie. </p><p>I rationalized with myself that I still had a good amount of time and could probably cut expenses to get some more time to returns to normalize. However, that took some effort to come to, and the thought of having to sell off my investments at depressed valuations to fund life requirements certainly caused some pain. </p><p>It's like I could probably run 2.4km in 10 mins 30 seconds, but that's going to be painful and probably something I'll like to refrain from unless absolutely necessary. Same logic to liquidating my invested portfolio below original or at depressed valuations to fund life requirements, but the envisaged pain is real in my mind. Separately, it was definitely through the last six months or so that I realised I have a wee bit of an unhealthy attachment to my investment portfolio that needs to be managed.</p><p>Eventually post self rationalization, I decided that the increased market volatility presented an opportunity to good to pass, and set aside USD30,000 to do some short to medium term trading in a bid to capitalise on returns. That's doing fine (up 15% or so), though my main invested portfolio is still down 11.9%, I'm not too worried given the Asia Pacific equity market sans tech is still undervalued and I believe that will revert to the mean eventually; and I now have increased my cash stockpile to 6.60 years given income I've received from my part time gig. </p><p>It's all good at this period of time, but looking back, I got really lucky in 2018 to get my retrenchment benefits that led to having an initial cash stockpile of 4.75 years, and receiving a unexpected small inheritance in March 2020 definitely helped, otherwise I might not have made the same decisions that I made in the last 2 years. </p><p>TL;DR - it is absolutely necessary to have a sufficient amount cash stockpile (or other means) to prevent negative sequence of returns from kneeling a death blow to your F.I.R.E life. </p><p><b><u>Purchasing a Property for Consumption</u></b></p><p>I'm turning 35 at the end of the year, and that means having access to purchase a resale HDB for own consumption soon, which was part of my original plan. Because every man needs his own space :) </p><p>Living a F.I.R.E life means having limited access to mortgage financing, so my plan was to liquidate investments and fully use up my CPF to purchase a property sometime in 2021, which well added to a bit of my phantom pain when I had to think about this during the market meltdown in 1Q/2Q20. </p><p>That was the original plan, and has since been subsequently redrawn as my partner came into my life shortly after I embarked on life post F.I.R.E. After over a year plus of dating, we decided we were going to be committed partners for life (at least in this life), and decided to ballot for the build to order flats by HDB instead given we qualified for it, and well, why waste the government's gift to its citizens? </p><p>Only impediments were a decent queue number and the mortgage financing. </p><p>Balloting was the straightforward part. Pony up S$10 for a ballot and leave it to chance. We went for two rounds of balloting and just received a decent queue number this time round. So hopefully we get to select a decent unit that we like this time round. </p><p><u>Mortgage financing while F.I.R.E</u></p><p>Obtaining mortgage financing was the trickier bit. We're both freelancers and have come into the self employment in recent times. She has been doing freelance work since Nov 2019 and I just started in Mar 2020. Meaning our tax assessment for FY2019 showed her as full time employed and me as unemployed. </p><p>My mortgage financing strategy since Feb (when the BTO process started and we started looking at resale units too) was to engage various mortgage brokers and banks directly since HDB requirements were for 6 months of self employed income. </p><p>I wanted to see if it was possible to get asset based financing given income based financing seemed unavailable to us. Well, let's just say to purchase a S$[750]k flat, you needed to either show about c. S$[1.2]m of cash during the period between offer letter issuance and draw down (4 months or so), or a mix of showing [x] amount and taking on fixed deposits for 4 years. </p><p>I have the numbers written down somewhere, but I'm bit lazy to go and dig, so the above number is from memory and might have changed given the mortgage rates have come down. </p><p>But taking bank financing meant a lower LTV of 75% and (1) having to liquidate my investments to show cash and be stuck for a couple of months, which to me was a bad idea, or (2) taking some form of cash backed financing, which was another bad idea given the need for me to be fully invested in appropriate return investments. </p><p>And for income based financing for freelancers, the banks strictly rely on what is declared to the tax man in the previous year, and they apply a hair cut of 30% to that. So that means we were ruled out on that basis given we only started freelancing recently. </p><p>In short, the bank financing process for us came to a screeching halt, at least until we receive our tax notices for FY2020 in 2Q21. </p><p>However, if you are getting a HDB property, you could always get HDB financing - this gives you a up to 90% LTV at CPF OA rate + 0.1% (2.6% p.a presently), and the HDB financing will be available for 6 months from letter issuance. </p><p>For BTOs, once you get a valid HLE for flat selection, this will last you all the way through the signing of lease agreement (4 to 6 months after flat selection) till 6 months before you get your keys (about 4 to 6 years from flat selection), where income is then reassessed and the loan is then disbursed at keys collection. </p><p>So we tried that route, and started to get our paperwork in order. For self-employed persons, HDB requires the last 6 months of your self-employed income, and that means you have to be self-employed for at least 6 months, and they are very strict about this. </p><p>I know this because I applied when I had 5 months under my belt, and they didn't count my income. Thankfully I re-applied shortly when I had 6 months under my belt, and they managed to provide us with full LTV for our targeted BTO purchase.</p><p>I was prepared to fully draw from CPF and liquidate investments to purchase a resale. But a mortgage really helps with managing my finances in a more efficient manner, and I'm really grateful that things worked out and we managed to get mortgage financing sorted for a HDB purchase until 1Q21. Fingers crossed that we can select a unit of our desired choice soon, whether it is a BTO or a resale. </p><p>TL;DR - Unless you have plenty of cash reserves that you can pledge / show to the bank where you don't need that for investment return to generate your living expenses, please sort our your mortgage financing and property purchase before you call it a day and F.I.R.E. Otherwise you're going to have to jump through hoops or get lucky. </p><p><u><b>Closing Thoughts</b></u></p><p>I wrote about the dark and bright side of my F.I.R.E journey about 12 months ago. </p><p>12 months have passed and it's still really pretty much the same, but I must say that some of both the bad and good points have begun to have less of an impact on me. </p><p>On the dark side, I don't quite see the "conformist questions" and "loss of identity" issues any more these days. Although "loss of community" is still there, but somewhat negated because of my part time gig. </p><p>On the bright side, "off peak" is nice, and is still nice. But when quite a sizable proportion of the population have been working from home since February or so till today, and that is going to be the status quo at least for at least the next few months, being able to do things "off peak" loses some of its gloss. </p><p>And I'm not even mentioning the extended lock-down over that couple of months which equalizes "off peak" and "peak". </p><p>That said, looking at both the dark side and bright side, I'm really grateful to be able to have this F.I.R.E experience over the last 2 years. Especially so, given my original intention was to actually leave the bank in 2020 to do some exploration. No prizes in guessing how limited that exploration could have been right now. </p><p>Presently though, I do feel a pervasive sense of stagnation and intellectual frustration. </p><p>It is as if I've hit the pause button on growth overall, even though I do think I've developed in other areas (say spiritually and emotionally). The loss of community where I get insights and intellectual stimulation from, while supplemented by my part time gig, also actually accentuates my desire to find something that can provide that on a more permanent basis. </p><p>So perhaps there is a need to find a full time gig that can give me personal autonomy and some kind professional growth and intellectual stimulation? Let's just say I'm not closed off to this idea if the right opportunity surfaces. </p><p>Anyhow, that's just some food for thought. What I'm particularly looking forward to in the next 12 months is to building a life with my partner, and a home together. These are really exciting times, COVID-19 or not, and I intend to make the best use of them.</p><p>Best wishes to all readers, especially if you've managed to finish this monster of an article. </p><p>Wishing you best of luck, and may you have the resilience, strength and daring do to pursue your dreams and happiness even in tumultuous times like these. Cheers. </p>Retireby35.SgStylehttp://www.blogger.com/profile/15736910260855155490noreply@blogger.com10tag:blogger.com,1999:blog-5979450665591955790.post-7413598529922036152020-09-14T21:16:00.003+08:002020-09-14T21:16:51.404+08:00Expenses - August 2020 <p> <table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto;"><tbody><tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEixPfq88TsDqkGYacjX4xRXl0M0XU8YKL1VcbUfBLXcfI8NGj1J1hdYk1yempuW3x8Zv7bLG_d8_rWdV3ZM1clw2hbmME2LFt7QKMFf-ZsyLo2s-luEP0N2m_gNThEyXhMWDlG0S__6g6xo/s830/Aug+2020+Expenses.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" data-original-height="580" data-original-width="830" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEixPfq88TsDqkGYacjX4xRXl0M0XU8YKL1VcbUfBLXcfI8NGj1J1hdYk1yempuW3x8Zv7bLG_d8_rWdV3ZM1clw2hbmME2LFt7QKMFf-ZsyLo2s-luEP0N2m_gNThEyXhMWDlG0S__6g6xo/s320/Aug+2020+Expenses.jpg" width="320" /></a></td></tr><tr><td class="tr-caption" style="text-align: center;">Total - S$3,022.91<br /></td></tr></tbody></table><br /></p><p>Righto. August 2020 saw total expenses amount to S$3,022.91, coming in at 75.6% of budgeted expenditure. </p><p>"Eating Out" was of course the largest category at S$1,260.45. Some of the more memorable experiences include Ginett Wine Bar and LINO. Brought the folks to try the latter given it left a solid impression on me in July. Of course, went back to my usual haunts such as Wildfire Chicken and Burgers. I sincerely hope these guys take off, given the value to quality ratio there. </p><p>"Gifts" came in second at S$789.06. Contributed some monies for my mom to hire a domestic helper given her old age. This went towards agency fees and stay-home-notice fees. Guess you got to do what you got to do for that. Bought pops some walking shoes and separately, a decent birthday meal for a bro. </p><p>"Motorcycle" rounded up the top three at S$241.62. Basically spent some money on safety equipment such as helmets and rain gear. Haven't quite changed out my helmet since 2015 so thought it'll be a good time to switch things out. And rain gear has come in handy given I've been caught in the rain more than once now. And the maxi scoot has storage space so it's a no brainer to purchase as a contingency act. </p><p>Definitely a heavier expense month than normal in recent times, but it ain't an issue given it's coming in within the monthly and annual budget for my 2nd year into F.I.R.E, so no biggie there at all. </p>Retireby35.SgStylehttp://www.blogger.com/profile/15736910260855155490noreply@blogger.com0tag:blogger.com,1999:blog-5979450665591955790.post-10917475257930666472020-09-11T15:23:00.002+08:002020-09-11T15:23:30.178+08:00Motorbiking Ownership Experience in Singapore - Moving on to a Maxi Scooter <p>Following the sale of my 8 year old KTM Duke 200 in July 2020, I thought it was going to be the end of my motorcycling experience for the foreseeable future. </p><p>Especially with motorcycle COE prices at S$7,000 to S$8,000, which is more than the machine price of the large swathe of class 2B and class 2A bikes, I thought it did not make much sense to own another two wheeler, given my limited intended mileage and the high maintenance experience that I had riding the KTM Duke 200. </p><p>However, idle minds are the devil's playground eh. After twiddling around on some motorbiking forums, and trying to delay any purchase decisions, I decided to look around to see if I could get a good deal on a 2nd hand bike. </p><p>Specifically, after receiving recommendations from some friends and from one of the comments received in the earlier blog post detailing the sale of my KTM Duke 200, I started looking around for 2nd hand maxi-scooters on <a href="https://www.sgbikemart.com.sg/" target="_blank">SGBikeMart</a>. Because increased storage space, twist and go, comfort and convenience began to appeal to me more than the conventional motorcycle riding experience. I guess age plays a part too :) </p><p>I spent a couple of weeks looking through the available inventory, and following a failed negotiation for a 2013 SYM JoyMax 300, I found myself looking at a listing for a class 2A scooter. It was a c. 270 cc scooter by a reputable Taiwanese manufacturer (think KYMCO or SYM). After some back and forth with the seller, I went to view the bike, loved it, and managed to wrangle out a decent deal. </p><p>Ponied up about c. S$9,400 in total post servicing, and after factoring in the c. S$4,500 received for the sale of my KTM Duke 200, this works out to be c. S$600 per annum for an upgrade of my experience and an extension of 6 more years to my original COE which was supposed to expire in 2023. </p><p>Given this, and that a brand new bike of the same model would have cost me c. S$15,500, I reckon it was a deal that was too more than sweet enough to go through with even if I were to utilise the bike on an occasional basis.</p><p><b><u>How has the Maxi-Scooter riding experience been so far?</u></b></p><p>So I'm about 1+ month into my maxi-scoot experience and it has been nothing but awesome. Fantastic comfort and good mileage so far. I've put c. 600km or so on it and I love the increased power, convenience and comfort as compared to my KTM Duke 200. A full tank is 12l, costs c. S$20 and can yield 330 to 360 km per tank. I think I'm becoming an Uncle :) </p><p><b><u>Tips for a 2nd hand motorcycle purchase</u></b></p><p>Anyhow, here are some thoughts to round up my purchase experience. Hopefully they might be of some help to any readers looking to purchase a 2nd hand motorcycle in Singapore. </p><p>1) Take your time to scout for and view 2nd hand bikes. The longer you take, the more options you have. Don't go for the first bike you see. Also, I dealt directly with individuals selling their bikes, not with dealers. My hypothesis is that there are good deals to be found on either side, but individuals might have more flexibility with pricing. </p><p>2) Everything is negotiable. The price you see on SGBikeMart is just the opening price. Knowing why your seller is selling the bike, seller's profile, bike condition, etc, will go some way in helping you to negotiate for a better price. </p><p>3) It might make sense to go against the grain. I think I got this on the value side also because it wasn't a very popular model. The current trend for maxi-scooters in the Class 2A category is the Xmax 300. However, that comes with a premium. Given my lack of height, I think I wouldn't be able to straddle the Xmax 300 confidently as my feet couldn't be planted flat on the floor while the bike is at a standstill. </p><p>4) Luck plays a huge role. I got lucky this time round - the bike was supposed to be sold to another guy in March, but circuit breaker came into play and he wasn't able to deliver the cash and collect the bike. And I met a seller who was generally easy going and just wanted to get rid of it. He wasn't looking to maximize sale price. </p><p>5) It's quite straightforward to switch ownership through e-LTA now using SingPass. My last 2nd hand bike purchase required both seller and buyer to head down to Sin Ming to consummate the sale in person. However things have changed since. For my recent purchase, I gave the seller a small deposit upfront to firm up my interest. Waited for him to repay his loans fully and release the bike for ownership exchange, went down to collect the bike and do the remaining purchase price / ownership exchange through internet banking and e-LTA. The wonders of technology. </p><p>Hope this post is of some use. </p><p>To all readers who ride, ride on, and ride safe. Enjoy the weekend! </p>Retireby35.SgStylehttp://www.blogger.com/profile/15736910260855155490noreply@blogger.com0tag:blogger.com,1999:blog-5979450665591955790.post-71499319626484276862020-09-09T13:02:00.001+08:002020-09-09T13:02:12.793+08:00Expenses - July 2020<p> </p><div class="separator" style="clear: both; text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj044P92VBuXBLXgH3YrcrEHugKWM3LPGvv8IpWeM9ivEQR5Cg9WQZKpBEO39t_yvqn2Scd_PemuqcrNTX5RVFT0FGLppJ96TyzNCLssbIiKoYU5PjanJKcA_TCtHQokHFPCmb2H-_Ib2lz/s663/Jul+2020+Expenses.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="442" data-original-width="663" height="213" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj044P92VBuXBLXgH3YrcrEHugKWM3LPGvv8IpWeM9ivEQR5Cg9WQZKpBEO39t_yvqn2Scd_PemuqcrNTX5RVFT0FGLppJ96TyzNCLssbIiKoYU5PjanJKcA_TCtHQokHFPCmb2H-_Ib2lz/w320-h213/Jul+2020+Expenses.jpg" width="320" /></a></div><div class="separator" style="clear: both; text-align: center;">Total - S$8,100.83</div><br /><p></p><div>A massive expenses month in July 2020, where total expenses amounted to S$8,100.83.</div><div><br /></div><div>Largest category was "Motorcycle". Spent S$5,476.60 there. I reckon I should do a separate post on this, but the bottom line is I traded in my old bike for a less old scooter with higher engine capacity and extended my COE expiry date by 6 years. </div><div><br /></div><div>Second largest category was "Eating Out" at S$1,306.60. First real month of being able to head out to restaurants and boy did we have some good meals out. Some more memorable ones that came to mind was Burnt Ends, Lino and Wildfire Chicken and Burgers. </div><div><br /></div><div>Lino is a new casual dining concept by the Les Amis group - I guess faster asset (table) turnovers and higher margins compared to fine dining makes for an increased desirability to branch into this market segment. Bottom line is that the pizzas are great and they have some good promotions going on there. For Burnt Ends, I think it's overpriced, but was an experience anyhow. Wildfire Chicken and Burgers - hot damn this is the shit - muchas satisfaction for BOTH tastebuds and wallet. </div><div><br /></div><div>Third largest category was shockingly "Alcohol" at S$504.45. Bit too high there, but I guess some wine and whisky purchases and mortini happy hours do add up unknowingly. I think this should taper down drastically over the next few months but let's see. </div><div><br /></div><div>July expenses came up to 202.5% of my monthly budgeted amount of S$4,000. A substantive part of it was a one time "capital expenditure" for my motorcycle, and removing that brings it within boundaries. However, even if I include that (which I should given it's actual cash spend), I'm still tracking comfortably below my budget. </div><div><br /></div><div>I've got total spending numbers out for my entire 2nd year post F.I.R.E (running till end August 2020). I'll find some time to post about that and thoughts on my 2nd year post F.I.R.E soon. </div>Retireby35.SgStylehttp://www.blogger.com/profile/15736910260855155490noreply@blogger.com0tag:blogger.com,1999:blog-5979450665591955790.post-85435125494745315552020-08-17T17:36:00.003+08:002020-08-17T17:36:29.969+08:00Expenses - June 2020 <p> </p><table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto;"><tbody><tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjG7FW6dV7XlNG0DsLT8CnRMPIbMzQjgINrds1baNDJb8ybOzspIU6nDaazQrfBEg01BWVySjOddY0pIocIqcJXhkWgtKjMIFyQ6WK_xpcnhjOU3Wjnr58akIsNyRbJyUfqxRIz9MgsMsHp/s829/June+2020+Expenses.jpg" style="margin-left: auto; margin-right: auto;"><img border="0" data-original-height="365" data-original-width="829" height="141" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjG7FW6dV7XlNG0DsLT8CnRMPIbMzQjgINrds1baNDJb8ybOzspIU6nDaazQrfBEg01BWVySjOddY0pIocIqcJXhkWgtKjMIFyQ6WK_xpcnhjOU3Wjnr58akIsNyRbJyUfqxRIz9MgsMsHp/w320-h141/June+2020+Expenses.jpg" width="320" /></a></td></tr><tr><td class="tr-caption" style="text-align: center;">Total - S$2,150.73<br /></td></tr></tbody></table><br /><p></p><p>June 2020 saw Singapore head into Phase 2 of reopening post circuit breaker measures, which meant the lifting of certain dining in curbs and socialising prohibition measures.</p><p>This led to a slightly higher increase of monthly expenses to S$2,150.73. Though if you take out a one-off annual expense of S$742.67, this is S$1,408.06 instead, which is roughly in line with May 2020's numbers. </p><p>Largest category was Insurance premiums at S$742.67. This was attributed to my H&S insurance with Prudential. I purchased this insurance back in 2014, and have saw premiums exponentially creep up. At this point, given I have the policy riders where it's nil co-pay and nil (or limited) excess in place, I've decided to keep this for the time being, as I understand these riders have been discontinued due to blatant abuse going on over the last couple of years. </p><p>Second largest category was Eating Out at S$652.17. Managed to satisfy some dining out cravings when Phase 2 came into play towards the end of the month, thus the slight creep from May 2020. </p><p>Third largest category was technology at S$372.89. Bought myself a set of wireless earbuds and wireless mouse and keyboard. Also purchased a small toaster oven for the family. </p><p>I burned through 53.8% of my monthly budget of S$4,000 this month. Guess all the savings are coming from the lack of spending on travelling and I do believe there might be room to lower the budget on a sustained basis but let's see. </p><p>In any case, I'm pretty sure I'll end up with a lower annual spend for the 2nd year of F.I.R.E as compared to my 1st. </p><p> </p>Retireby35.SgStylehttp://www.blogger.com/profile/15736910260855155490noreply@blogger.com0tag:blogger.com,1999:blog-5979450665591955790.post-46546166116002335452020-08-16T10:00:00.003+08:002020-08-17T17:36:58.477+08:00Expenses - May 2020<p> </p><table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto;"><tbody><tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjTFheEpO20-XgwsQWuIADwbC-diNDY1uomIWevnSRic9MD6TUJUXUR9z7tx5glppQSBRI6dLsMQlIvM489WytHFVdPbiEYpFOXSalJOIDcGl1gx3gTNbGAWzs6aMdb4auN-cYmL9X6VoUy/s830/May+2020+Expenses.jpg" style="margin-left: auto; margin-right: auto;"><img border="0" data-original-height="369" data-original-width="830" height="143" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjTFheEpO20-XgwsQWuIADwbC-diNDY1uomIWevnSRic9MD6TUJUXUR9z7tx5glppQSBRI6dLsMQlIvM489WytHFVdPbiEYpFOXSalJOIDcGl1gx3gTNbGAWzs6aMdb4auN-cYmL9X6VoUy/w320-h143/May+2020+Expenses.jpg" width="320" /></a></td></tr><tr><td class="tr-caption" style="text-align: center;">Total - S$1,248.38<br /></td></tr></tbody></table><br /><p></p><p>1st whole month of the circuit breaker and it shows in the expenses! </p><p>Total expenses for May 2020 came up to S$1,248.38 and this was done in the context of living life pretty large during the circuit breaker phase, well... as large as living can be done at home. </p><p>Largest category of expenses was Eating Out at S$542.04. I have to clarify that this was really doggy bagging food back for the family, ordering in, and sending food as "gifts" over to my partner who's staying with her parents. </p><p>Second largest category was Self Improvement at S$246.24, as I spent S$240 attending a introduction to positive psychology course, which I found pretty interesting and helpful. </p><p>Third largest category was Alcohol at S$175.80. I certainly stocked up sufficient amounts of beer and whiskey to tide me through the month. </p><p>I spent about 32.1% of my monthly budget of S$4,000, which is very much an all time low during a time where I stayed solely in Singapore. And I was really happy during this period. This reinforces my belief that very little is required to have a good life, circuit breaker or not. </p><p>In any case, I do hope you folks are tiding through these COVID-19 times in good stead. If you are facing problems, hang in there and fight the good fight. Do remember, anicca - it too, shall pass. </p>Retireby35.SgStylehttp://www.blogger.com/profile/15736910260855155490noreply@blogger.com1tag:blogger.com,1999:blog-5979450665591955790.post-45217451401489002902020-07-13T21:17:00.000+08:002020-07-13T21:17:06.581+08:00Economics of my motorbiking ownership experience in Singapore I recently sold off my 8 year old KTM Duke 200 motorbike and thought it'll be good to do a reflective post on this, in a bid to explore quantify the economics of my motorcycling experience. <div><br /></div><div>I purchased my motorbike in 2015 for a cool S$9,000 or so and held it for just over five years. It was a 3rd hand bike that had seen probably only 7,000 km or so of mileage over the first three years of its lifespan, given the profiles of its previous owners - an expatriate and another professional who used it mainly for weekend riding. At that time, the purchase price was a real bargain for me, given the seller was a friend who was looking to move on the motorbike as he was looking to relocate. If I recall correctly, a brand new KTM Duke was around $14 to 15k or so at that point in time. </div><div><br /></div><div>Over the last 5 years or so, I've spent close to S$4,700 on motorbiking expenses. These include petrol costs, maintenance costs, ancillary costs (vehicle inspection, insurance, topping up of the cash card, purchasing locks, gear, covers, etc). Majority of these expenses (c. 70% or so) are allocated to the maintenance aspect, and this was probably because I didn't ride as much as it necessitated. </div><div><br /></div><div>Strangely, the mechanics have told me that the motorbike (or at least this particular brand KTM) requires frequent enough usage, otherwise it'll see a enhanced deterioration of its moving parts and other integral systems. Basically I had to replace a substantial number of integral parts over recent years, but the engine was still in tip top shape. </div><div><br /></div><div>I managed to sell the motorbike for about c. S$4,500 with a little over 2 years left on the COE. So the net cost of 5 years worth of motorcycling was c. S$9,200, or c. S$1,850 per year of use. The total mileage over my ownership period was about 5,000 km, which could be characterized as meagre at best. </div><div><br /></div><div><b><u>Was it worthwhile?</u> </b></div><div><br /></div><div>Given I was the rare motorcyclist and didn't quite exact the full advantages my motorcycle had to offer, I gather that for the price of S$1,850 per annum, it was a really good thing to have on hand for the convenience and experience that it offered. </div><div><br /></div><div>Frankly, I think the costs wouldn't have increased by much even if I had put more mileage on it, and the maintenance costs can possibly even be lowered by going to a cheaper workshop. I hadn't quite bothered and got it serviced at the original dealer workshop Dirtwheel, was was rather pricey.</div><div><br /></div><div>For the adventures and experiences that it had given me, I don't have any regrets from owning a motorcycle over the last 5 years. In fact, it was a great experience. However, I've discovered that I don't quite like to own things given the maintenance aspect - you've got to take good care of your stuff and send it for regular servicing, upkeep and general maintenance (like recharging the battery, or taking it out when you go for a long holiday etc etc.), and this is even more challenging when you don't quite utilize the asset in question. </div><div><br /></div><div>There were many a time at the start where I wanted to use the bike but realized the battery had gone flat, or the tyre was out of air, or the side stand sensor didn't work, and I had to get the bike towed to the workshop. I did pick up some basic motorcycle maintenance skills over the years, and these problems abated, but still my infrequent use of the motorcycle probably didn't warrant me owning one, or at least this model which required some loving tender care. </div><div><br /></div><div>One thing I might have done differently was to probably own a motorcycle that was low maintenance, say like a class 2A scooter (Yamaha XMAX 300) or some sort that came hassle free and with copious amounts of storage space that'll still afford me the convenience factor sans the "wow" factor. </div><div><br /></div><div>Perhaps that is something I'll consider next, but with COE prices at S$7,702 presently, I guess I'm gonna stick to public transport and grab rides. Indeed, that will perhaps truly be fuss free, especially during off-peak times :) </div>Retireby35.SgStylehttp://www.blogger.com/profile/15736910260855155490noreply@blogger.com0tag:blogger.com,1999:blog-5979450665591955790.post-6818665819073029642020-05-29T08:00:00.000+08:002020-05-29T08:00:26.769+08:00Expenses - April 2020 <br /><table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto;"><tbody><tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg4k5I9mw8Lk58lYpGI3HKiJHjv5cMMqKM3rOdgx46CduuMQkJNLVSKIt7Cd_AVR5viN93gTb4xluWTMXLCjBYcWgPOMxLGZN2TYAyzu17ok8ZA-bzyO1cW_oZNn88WAf3D2eSyJrS79TwV/" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" data-original-height="272" data-original-width="666" height="131" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg4k5I9mw8Lk58lYpGI3HKiJHjv5cMMqKM3rOdgx46CduuMQkJNLVSKIt7Cd_AVR5viN93gTb4xluWTMXLCjBYcWgPOMxLGZN2TYAyzu17ok8ZA-bzyO1cW_oZNn88WAf3D2eSyJrS79TwV/w320-h131/Apr+2020+Expenses.jpg" title="Total - S$3,910.27" width="320" /></a></td></tr><tr><td class="tr-caption" style="text-align: center;">Total - S$3,910.27<br /></td></tr></tbody></table><br /><div>Total expenses in April 2020 came up to S$3,910.27, at c. 97.8% of budgeted amounts. </div><div><br /></div><div>Largest category was gifts at S$2,223.00. This was largely attributed to a purchase of an iMac for my partner, given working at home full time on a laptop screen generally leads to squinty eyes and optical degeneration. </div><div><br /></div><div>And with the circuit breaker in play, Groceries came in second. Enough said on this. </div><div><br /></div><div>Third category was Eating Out. This is basically takeaway / delivery food items, with one massive memorable meal at New Ubin Seafood a couple of days before we received notice of the circuit breaker being imposed on us. That was absolutely delectable. </div><div><br /></div><div>Special mention to the fourth category - Alcohol. Haven't seen this level of alcohol expenditure for quite some time, and this could be largely attributed (at 66% or so) to a one time purchase of certain quality wines that were being sold at massive discounts, possibly due to a rush to clear inventory given the dire economic situation. I've opened a few bottles of them and they are seriously of high quality to price. Good value. </div><div><br /></div><div>This month was pretty much another example of what retired life looks like, especially when there are no travel plans being put in play, and one has to stay at home most of the time. Sans a one time expense for gifts and donations (had donated some part of my short term trading gains), the "steady state" expenses was at c. S$1,500 for daily expenses and this is in my opinion living quite large. </div><div><br /></div><div>Of course, there is rent / mortgage, or in my case parental allowance / separate home contribution allowance, that I've left out in my spending reports given the fixed fee nature of it, but that has been factored into my own drawdown / budget analysis. </div><div><br /></div><div>I reckon May will plumb new depths of low spending. As of 29 May, I'm barely hitting S$1,300 all in, and this is before write backs of certain expenditure incurred over the past few months given refunds due to cancellation of certain activities. </div><div><br /></div><div>Perhaps I should do a post on what I've been up to over the last couple of months given the COVID-19 situation has been put in place, but that's another story for another day. </div><div><br /></div><div>Hope all of you reading this are holding up well, and if not, just know that this current situation, like all others, is impermanent and it will pass as well. Take care, and be happy! </div><div><br /></div>Retireby35.SgStylehttp://www.blogger.com/profile/15736910260855155490noreply@blogger.com0tag:blogger.com,1999:blog-5979450665591955790.post-13715988130281253032020-05-27T17:07:00.001+08:002020-05-27T17:07:14.676+08:00Expenses - March 2020<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto;"><tbody><tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiPj8-VKADgfMawraca_V7hZ3eU8sGw4ua-0iZk_5IXbMUPqWUfAehx0RkOcAkghgZAw2_P4LCjBVfQ-Wjm4UxQKqz51RVtn4LWsZcTYejUV70JqgEqHgEKeQpxhq1rCwSZG9fXfU_Bjdct/" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" data-original-height="361" data-original-width="666" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiPj8-VKADgfMawraca_V7hZ3eU8sGw4ua-0iZk_5IXbMUPqWUfAehx0RkOcAkghgZAw2_P4LCjBVfQ-Wjm4UxQKqz51RVtn4LWsZcTYejUV70JqgEqHgEKeQpxhq1rCwSZG9fXfU_Bjdct/s320/Mar+2020+Expenss.jpg" width="320" /></a></td></tr><tr><td class="tr-caption" style="text-align: center;"><br />Total - S$2,132.90<br /></td></tr></tbody></table><div><br /></div>Total expenses in March 2020 amounted to S$2,132.90, which was roughly 53% of the budgeted amount. <div><br /></div><div>This month is probably the first month I've stayed at home for majority of the time, given the developing COVID-19 situation. </div><div><br /></div><div>Eating Out was once again the largest contributor to expenses at S$680.74, as we could still bask in the luxury of ding out. I remember I had a great meal at Wagyu Express around the Tanjong Pagar area sometime then. </div><div><br /></div><div>2nd largest category was Self Improvement at S$365.97. I had signed up for a 200 hour yoga teacher training course and </div><div><br /></div><div>3rd largest category was Gifts at S$337.70. I celebrated the birthday of one of my siblings and we had a good meal outside. Also gifted my domestic helper some monies as her birthday present too. </div><div><br /></div><div>Other items of note was the purchase of a Canon multi function laser printer that cost S$259. </div>Retireby35.SgStylehttp://www.blogger.com/profile/15736910260855155490noreply@blogger.com0tag:blogger.com,1999:blog-5979450665591955790.post-22838837699814362692020-03-27T08:33:00.000+08:002020-03-27T10:29:38.084+08:00Temasek shows up for SIA with a fair deal for stakeholders<br />
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<span style="font-family: "times new roman" , "serif"; font-size: 10.0pt;">So we saw a strong showing in
the Resilience Budget yesterday, and this unyielding
effort is further seen in what has to be nothing short of a massive show of support by Temasek in Singapore Airlines. <o:p></o:p></span></div>
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<span style="font-family: "times new roman" , "serif"; font-size: 10.0pt;">I was closing out my minor US
trading positions early this morning when I saw the press release on CNA, and
subsequently went through the SGX announcement. Please do point out and pardon
me if there are any factual errors in my summary below. <o:p></o:p></span></div>
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<br /></div>
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<b style="mso-bidi-font-weight: normal;"><u><span style="background: white; font-family: "times new roman" , "serif"; font-size: 10.0pt;">Key Transaction Highlights - Singapore Airlines Rights Issue
and Convertible Bond Issuance</span></u></b><b style="mso-bidi-font-weight: normal;"><u><span style="font-family: "times new roman" , "serif"; font-size: 10.0pt;"><o:p></o:p></span></u></b></div>
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<span style="background: white; font-family: "times new roman" , "serif"; font-size: 10.0pt;">* Total immediate
new funding of S$8.8bn, comprising S$5.3bn equity and S$3.5bn 10 year mandatory
convertible CB. <o:p></o:p></span></div>
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<span style="background: white; font-family: "times new roman" , "serif"; font-size: 10.0pt;">* Another S$6.2bn of
dry powder in the form of a similar mandatory convertible CB to be on standby<o:p></o:p></span></div>
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<span style="background: white; font-family: "times new roman" , "serif"; font-size: 10.0pt;">* All new funding
to be fully backstopped by Temasek<o:p></o:p></span></div>
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<br /></div>
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<b style="mso-bidi-font-weight: normal;"><span style="background: white; font-family: "times new roman" , "serif"; font-size: 10.0pt;">Rights Issue – S$3.5bn </span></b><b style="mso-bidi-font-weight: normal;"><span style="font-family: "times new roman" , "serif"; font-size: 10.0pt;"><o:p></o:p></span></b></div>
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<span style="background: white; font-family: "times new roman" , "serif"; font-size: 10.0pt;">* 3 Rights Shares
(at S$3.00 issue price) for every 2 existing SIA Shares</span><span style="font-family: "times new roman" , "serif"; font-size: 10.0pt;">, existing shareholders diluted to 40% of original shareholding
if choose not to subscribe to Rights Shares<br />
* Rights Shares to raise proceeds of c. S$5.3bn<br />
* Theoretical Ex-Rights Price (“TERP”) of S$4.40 per share<o:p></o:p></span></div>
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<span style="font-family: "times new roman" , "serif"; font-size: 10.0pt;">* Discount to TERP of 31.8% <o:p></o:p></span></div>
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<span style="font-family: "times new roman" , "serif"; font-size: 10.0pt;">* Discount to Last Traded Price of
53.8% <br style="mso-special-character: line-break;" />
<!--[if !supportLineBreakNewLine]--><br style="mso-special-character: line-break;" />
<!--[endif]--><o:p></o:p></span></div>
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<b style="mso-bidi-font-weight: normal;"><span style="font-family: "times new roman" , "serif"; font-size: 10.0pt;">Convertible
Bond – S$3.5bn in immediate funds, with another S$6.2bn of “dry powder” <o:p></o:p></span></b></div>
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<span style="font-family: "times new roman" , "serif"; font-size: 10.0pt;">* Additional 10-year zero-coupon Convertible
Bond (“MCB”) to be issued, notional of S$3.5bn, at 295 MCBs for 100 existing
SIA shares, denominated at S$1.00 per MCB (but trading lot size of S$1,000)<br />
* Conversion Price at MCB set at 10% premium to TERP – S$4.84, convertible only
at Maturity at Accreted Principal Amounts (“ACP”)<br />
* ACP of MCB:<br />
- 4% p.a. within first 4 years of issuance<br />
- 5% p.a. in next 3 years (year 5 to 7)<br />
- 6% p.a. in subsequent 3 years (year 8 to 10)<br />
- All amounts compounded on a semi-annual basis<br />
* Issuer has call option on MCBs subject to payment of Accreted Principal
Amounts, only to be exercised semi-annually from issuance of MCB<br />
* No put option on MCBs for investors<br />
* Issuer seeking approval for another S$6.2bn of MCB (at substantially similar
terms) to be made available for issuance within 15 months from EGM approval
date <o:p></o:p></span></div>
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<br /></div>
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<b style="mso-bidi-font-weight: normal;"><span style="font-family: "times new roman" , "serif"; font-size: 10.0pt;">Potential
Shareholding Dilution for Minorities – limited to only effects from this
corporate action<o:p></o:p></span></b></div>
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<span style="font-family: "times new roman" , "serif"; font-size: 10.0pt;">* If you choose not to subscribe, on
immediate completion of Rights Issue, you retain 40.0% your original ownership<o:p></o:p></span></div>
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<span style="font-family: "times new roman" , "serif"; font-size: 10.0pt;">* Post completion of Rights Issue
and if new S$3.5bn MCB is converted in 10 years, you retain 28.0% your original
ownership<o:p></o:p></span></div>
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<span style="font-family: "times new roman" , "serif"; font-size: 10.0pt;">* If a further S$6.2bn MCB is converted
in 10 years, you retain 18.3% your original ownership</span></div>
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<b style="mso-bidi-font-weight: normal;"><u><span style="background: white; font-family: "times new roman" , "serif"; font-size: 10.0pt;"><br />
My thoughts</span></u></b></div>
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<b style="mso-bidi-font-weight: normal;"><u><span style="background: white; font-family: "times new roman" , "serif"; font-size: 10.0pt;"><br /></span></u></b></div>
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<span style="font-family: "times new roman" , "serif"; font-size: 10.0pt;">Whenever my friends and I talk about
single stock investing in the Singapore landscape, the conversation invariably
involves our esteemed sovereign wealth funds (GIC and Temasek), and somehow,
someone will always come up with the idea that if you’re lazy, or at a loss of
what to do, besides investing in index trackers, maybe you can just mirror what
Temasek / GIC does. After all, given the intertwining of the business landscape
between GLCs, Government and SWFs in Singapore, even if you get fucked, you won’t
get fucked so bad. There’ll likely be some reprieve and most likely a decent ongoing
yield. <o:p></o:p></span></div>
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<br /></div>
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<span style="font-family: "times new roman" , "serif"; font-size: 10.0pt;">While I have my own reservations on
the investing methodology as described in the above paragraph, there is no doubt
at all that the situation with Singapore Airlines epitomizes the above thinking.
Look, I know bad is relative, at least your investment in Singapore Airlines
won’t go to a big fat donut – congratulations you just got bailed out. <o:p></o:p></span></div>
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<br /></div>
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<span style="font-family: "times new roman" , "serif"; font-size: 10.0pt;">Temasek is certainly pushing out the
boat here – backstopping S$15bn of funding for Singapore Airlines, but of
course, there is no doubt that Singapore Airlines is a critical strategic asset
that cannot afford to fail. If this fails, there is a high probability that our
entire aviation sector will collapse like a house of cards. Just think about it
– T4 was pretty much empty even before COVID began, and remember all the
ancillary services that generates revenue from the servicing of aircraft,
catering, etc? I’m not quite sure they can survive if the anchor tenant of
Changi is gone. <span style="mso-spacerun: yes;"> </span><o:p></o:p></span></div>
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Now that we have answered the existentialist question of “to save or not to
save”, the question is – what can Temasek do to provide a lifeline that will
not make for bad optics (i.e. fucking existing minority shareholders, being
called out by the public for spending inefficiently or in excess, etc)? <o:p></o:p></span></div>
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<span style="font-family: "times new roman" , "serif"; font-size: 10.0pt; line-height: 115%;">They could call for a general offer to take private
Singapore Airlines. The upside is that no more having to deal with quarterly
updates, answering to the public on why this why that, ease of doing more
strategic moves, etc. But then there will be other issues like what acquisition
premium to give, decrease of depth in an already thinly traded market, perceptions,
etc. <o:p></o:p></span></div>
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<span style="font-family: "times new roman" , "serif"; font-size: 10.0pt; line-height: 115%;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "times new roman" , "serif"; font-size: 10.0pt; line-height: 115%;">They could do a direct primary share issuance with
Singapore Airlines, or a convertible bond, but that would mean fucking over the
minorities, especially long term existing shareholders who will no doubt be
diluted down in shareholdings. <o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "times new roman" , "serif"; font-size: 10.0pt; line-height: 115%;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "times new roman" , "serif"; font-size: 10.0pt; line-height: 115%;">So my view is that this particular course of action,
is right and fair for a situation of this nature at this point in time. <o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "times new roman" , "serif"; font-size: 10.0pt; line-height: 115%;">Why? Everyone has the right to participate equally
in this. You have a choice to maintain your current shareholding percentage
levels. <o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "times new roman" , "serif"; font-size: 10.0pt; line-height: 115%;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "times new roman" , "serif"; font-size: 10.0pt; line-height: 115%;">No doubt, there will be guys who will say fuck man,
this is some nasty pricing going on – why couldn’t they price the Rights Shares
better – less discount to TERP or Last Traded Price. Give some chance to the minority
investor lah, value the company higher leh. Especially the long time
shareholders who have been there before COVID struck, say shareholders whose purchase
price was S$9.50 or more. In my humble opinion, the discounts to TERP and last traded price do seem to border on the high side. <o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "times new roman" , "serif"; font-size: 10.0pt; line-height: 115%;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "times new roman" , "serif"; font-size: 10.0pt; line-height: 115%;">But then again, why should another investor do so?
Especially one such as Temasek where they’ll be scrutinized by the general
public in their every move. There isn’t any motivation to do that, after all
they are in the business of generating investment returns too. Furthermore, if
you can get in at a value price, why not? This is quite a decent deal for Temasek, and they have actually managed to wrangle some juice in the MCBs for the minority investors. <o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "times new roman" , "serif"; font-size: 10.0pt; line-height: 115%;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "times new roman" , "serif"; font-size: 10.0pt; line-height: 115%;">As a minority investor in the MCBs - you get a 4% redemption premium at the very least, and this is compounded. This
is better than the SIA dividend yield no? Albeit you’ll only get this in cash
when the investor calls for it, or in shares at the end of 10 years.<o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "times new roman" , "serif"; font-size: 10.0pt; line-height: 115%;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "times new roman" , "serif"; font-size: 10.0pt; line-height: 115%;">If I recall correctly – this pricing levels make
this debt one of, or if not the most expensive “debt” SIA would have on its
book. It steps up after 4 years too, so this would probably be first port of call for any potential deleveraging. <o:p></o:p></span></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;"><u><span style="background: white; font-family: "times new roman" , "serif"; font-size: 10.0pt; line-height: 115%;"><br /></span></u></b></div>
<div class="MsoNormal">
<b style="mso-bidi-font-weight: normal;"><u><span style="background: white; font-family: "times new roman" , "serif"; font-size: 10.0pt; line-height: 115%;">Next steps for
Existing Investors? <o:p></o:p></span></u></b></div>
<div class="MsoNormal">
<span style="font-family: "times new roman" , "serif"; font-size: 10.0pt; line-height: 115%;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "times new roman" , "serif"; font-size: 10.0pt; line-height: 115%;">FYI - I’m looking at next steps below through the
lens of an existing investor only. As a new investor, a different lens is
warranted given the amount of opportunities out there at the moment. <o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "times new roman" , "serif"; font-size: 10.0pt; line-height: 115%;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "times new roman" , "serif"; font-size: 10.0pt; line-height: 115%;">Entitlement of the Rights Shares and the MCBs will
be listed and traded on the SGX. If you are not in a position, or do not want
to subscribe to the Rights Shares or MCBs, please remember to sell those
entitlements, so you can get at least some cash even though you’ll be diluted
down to 40% from the get go. <o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "times new roman" , "serif"; font-size: 10.0pt; line-height: 115%;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "times new roman" , "serif"; font-size: 10.0pt; line-height: 115%;">If you only have some spare cash, subscribe to the
MCBs for certainty of return, well at least as long as SIA is a going concern and
I can assure you there is a high chance it will be – I suggest to take comfort
in this action by Temasek.</span></div>
<div class="MsoNormal">
<span style="font-family: "times new roman" , "serif"; font-size: 10.0pt; line-height: 115%;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "times new roman" , "serif"; font-size: 10.0pt; line-height: 115%;">If you have sufficient cash, I urge you to subscribe
for both, or even take up excess rights (there is a provision for that). </span><span style="font-family: "times new roman" , serif; font-size: 10pt;">You average
down your cost price, at least maintain your ownership levels, and get MCBs for
some “income” return, or more SIA shares at the end of 10 years. Think long
term – the Singapore Government cannot afford to let the aviation sector in
Singapore fail, given the tremendous amount of investment already made. And
Singapore Airlines is one of its prized jewels on that crown.</span></div>
<div class="MsoNormal">
<span style="font-family: "times new roman" , "serif"; font-size: 10.0pt; line-height: 115%;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "times new roman" , "serif"; font-size: 10.0pt; line-height: 115%;">But whether that will translate into a healthy
investment return for the existing investor – I don’t know for sure, but I can
see a decent margin of safety at these prices. <o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "times new roman" , "serif"; font-size: 10.0pt; line-height: 115%;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "times new roman" , "serif"; font-size: 10.0pt; line-height: 115%;">Thanks for reading and I hope you found this
helpful. Leave comments below!<o:p></o:p></span></div>
<div class="MsoNormal">
<br /></div>
Retireby35.SgStylehttp://www.blogger.com/profile/15736910260855155490noreply@blogger.com7tag:blogger.com,1999:blog-5979450665591955790.post-36578736043117965602020-03-26T11:22:00.000+08:002020-03-26T11:22:05.316+08:00Expenses - February 2020 <table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiuOxdn1hv_d7Bd7-bhNRE59wbLHp6IE1pXUEmHnFCGLAicNg2qwpXNU56XYaqm3udC5iHQcGMZ1p1Y5_ItWuvDv5yIcugPkJH9ofoOjih5UkmyCse4R9vkldvENP7XJ5r7tMyXwuT1tZqZ/s1600/Feb+2020+Expenses.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" data-original-height="566" data-original-width="670" height="270" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiuOxdn1hv_d7Bd7-bhNRE59wbLHp6IE1pXUEmHnFCGLAicNg2qwpXNU56XYaqm3udC5iHQcGMZ1p1Y5_ItWuvDv5yIcugPkJH9ofoOjih5UkmyCse4R9vkldvENP7XJ5r7tMyXwuT1tZqZ/s320/Feb+2020+Expenses.jpg" width="320" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">Total - S$2,806.6</td></tr>
</tbody></table>
<br />
Total expenses for February 2020 came up to S$2,806.60.<br />
<br />
Largest category was "Vacation". Spent half a week in Ubud, Bali during the earlier part of February to celebrate my partner's birthday. We're just thankful the timing seemed to work out okay, inspite of the overarching COVID-19 landscape then, and even more so now.<br />
<br />
Second category was "Eating Out". Enough said about that. Only major expense in this category is attributed to a wine dinner with family and friends at our current favourite wine place.<br />
<br />
Third category was "Diving". Was planning to head up to East Malaysia for some diving come mid May, but given the COVID-19 crisis escalating at the moment, I think this will have to be put on the back burner for the time being. That being said, I've still got to pay up for the trip.<br />
<br />
So I ended the month at 70% of budget, which ain't too bad. I gather if I cut out most of the vacations and stay in Singapore, my steady state expenses will possibly only top S$2,000ish monthly. But let's see, given no immediate need to cut my budget in the near future :)Retireby35.SgStylehttp://www.blogger.com/profile/15736910260855155490noreply@blogger.com0tag:blogger.com,1999:blog-5979450665591955790.post-76861170494284269882020-03-25T15:47:00.000+08:002020-03-25T15:47:58.806+08:00Expenses - January 2020<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi4JTSyGvyqWFHm4eVMXbuZbPE5ArSlD5gzxCx14NQdotTQZ6G5efPdb2BmED37lM3MOurFBiFt_GFH8YAtJ-D8chwHAXwjoNjc9HJV7sXXdmzvxjQHbd5FEtgHG-IDaymupHDLZIbt0xcu/s1600/Jan+2020+Expenses.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" data-original-height="430" data-original-width="666" height="206" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi4JTSyGvyqWFHm4eVMXbuZbPE5ArSlD5gzxCx14NQdotTQZ6G5efPdb2BmED37lM3MOurFBiFt_GFH8YAtJ-D8chwHAXwjoNjc9HJV7sXXdmzvxjQHbd5FEtgHG-IDaymupHDLZIbt0xcu/s320/Jan+2020+Expenses.jpg" width="320" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">Total - S$3,166.32<br /></td><td class="tr-caption"><br /></td></tr>
</tbody></table>
Total expenses for January 2020 came up to S$3,166.32.<br />
<br />
The largest category was "Motorcycle" - my motorcycle repair and maintenance job. I've an 8 year old KTM Duke 200 (class 2B bike) which I rarely use. That means high degradation of parts and voila, I came back to a faulty fuel pump and a nasty case of dried out rubber for some of my lights. Add a poor DIY job on the front brake fluid system, and normal servicing works (engine oil change, etc), this baby cost me S$849 for it to be put back on the road safe.<br />
<br />
Strangely enough, the mechanic's advice was : "Bro you got to ride more, because this kinda bike if you don't ride enough it'll all get gunky and rough, then you'll have these kinda problems. These one can't be left alone for long. You want something you can just leave alone for awhile and continuously use - buy a scooter." Well, suffice to say, I've been putting in some mileage since then, though the weather has gotten drastically hotter over these two months. Anyhow, I've put up my bike for sale, so let me know if you come across this pseudo advert and would like to know more.<br />
<br />
The second largest category was "Eating Out". Stayed in Singapore the entire month, so this definitely would be a top 3 category. Notable entries included paying S$70 for a Burpple Beyond membership, which I have not used yet, and also some wine dinners with my friends and family.<br />
<br />
The last category was "Gifts". Chinese New Year came early this year, and I had to pony up for the customary ang pows to my parents, and domestic help.<br />
<br />
In conclusion, I came in below the S$4,000 budget (79%) and have some surplus savings. There aren't any major plans to go traveling this year, so I reckon I can keep to well within the S$4,000 bogey. In fact, if there wasn't that major expense for my bike, I'll be hovering around the $2,300 mark, with no real focused cost cutting measures put in place yet. So all's good. Retireby35.SgStylehttp://www.blogger.com/profile/15736910260855155490noreply@blogger.com1tag:blogger.com,1999:blog-5979450665591955790.post-57042376808714366882020-01-24T16:59:00.002+08:002020-01-24T16:59:30.365+08:00Expenses - December 2019<div class="separator" style="clear: both; text-align: center;">
</div>
<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh6ImZlkmOFq3-6KJ_IuAtyLvdP4st7tSgWcgdYpvyqD-WZyVaT-x0nDvXbYYk5cpy1nyxi4LKBHU33tUtjE7-PRAWB6EpdX-e-TPVmE4HHkpoNHrc1hAAf7SRG_OHlBQh62IcO_23phbqL/s1600/Dec+2019+Expenses.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" data-original-height="407" data-original-width="667" height="195" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh6ImZlkmOFq3-6KJ_IuAtyLvdP4st7tSgWcgdYpvyqD-WZyVaT-x0nDvXbYYk5cpy1nyxi4LKBHU33tUtjE7-PRAWB6EpdX-e-TPVmE4HHkpoNHrc1hAAf7SRG_OHlBQh62IcO_23phbqL/s320/Dec+2019+Expenses.jpg" width="320" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">Total - S$2,295.33</td></tr>
</tbody></table>
<br />
Total expenses for the month came up to S$2,295.33, which was surprisingly low for December.<br />
<br />
Gifts was the largest expense, largely attributed to my attendance at a wedding right across the border as a groomsman for one of my buddies, and various Christmas / birthday gifts across the month.<br />
<br />
The second largest category was Vacation Expenses, which was mainly attributed to across the border spending for the aforementioned wedding, given it was a mini vacation of some sorts for my partner and I.<br />
<br />
Eating Out was the third largest category - there is only so much one can say about this. But this category was relatively lower in December compared to other months, as I spent a week on retreat across the border.<br />
<br />
So I've spent about 57.3% of my budgeted expenses this month, which ain't too bad, and well within budget.<br />
<br />
That being said, I expect to spend more in January 2020 as I send my motorcycle in for repairs / servicing, associated expenses for CNY (got to distribute some to my parents), and also front load a bit of expenses for a few other upcoming trips in 2020.Retireby35.SgStylehttp://www.blogger.com/profile/15736910260855155490noreply@blogger.com2tag:blogger.com,1999:blog-5979450665591955790.post-73647192681107415022020-01-20T13:56:00.003+08:002020-01-20T13:56:39.880+08:00Managing your weight<span style="font-family: inherit;">Over the last few weeks, I had the good
fortune to read a book called "The Obesity Code: Unlocking the Secrets of
Weight Loss" by Jason Fung (M.D), which was published in 2015.</span><br />
<div style="margin-bottom: .0001pt; margin: 0cm;">
<br /></div>
<div style="margin-bottom: .0001pt; margin: 0cm;">
<span style="font-family: inherit;">It has been some time since I read
a book on physical health and weight management that was so good that I feel
certain concepts it espouses could be more widely shared through a short blog
summary. </span></div>
<div style="margin-bottom: .0001pt; margin: 0cm;">
<br /></div>
<div style="margin-bottom: .0001pt; margin: 0cm;">
<span style="font-family: inherit;">The main purpose of the book is to find out exactly what causes obesity and to provide permanent solutions to manage it. </span></div>
<div style="margin-bottom: .0001pt; margin: 0cm;">
<br /></div>
<div style="margin-bottom: .0001pt; margin: 0cm;">
<span style="font-family: inherit;">From the perspective of a 35 year
old Singaporean male who spent 10 of his younger years as a former member of the Trim and Fit (TAF) club, where its name is by itself is a mockery of its
esteemed members who are all overweight, I do feel that the suggestions put worth by the book are worthy
of further consideration and experimentation. </span></div>
<div style="margin-bottom: .0001pt; margin: 0cm;">
<br /></div>
<div style="margin-bottom: .0001pt; margin: 0cm;">
<b><u><span style="font-family: inherit;">What causes obesity? <o:p></o:p></span></u></b></div>
<div style="margin-bottom: .0001pt; margin: 0cm;">
<br /></div>
<div style="margin-bottom: .0001pt; margin: 0cm;">
<span style="font-family: inherit;">There has been many suggestions
from various sources on what causes obesity. Some of the more popular ones are:
“calories in > calories out”; “too much carbohydrates”; “too much fat”, etc.</span></div>
<div style="margin-bottom: .0001pt; margin: 0cm;">
<br /></div>
<div style="margin-bottom: .0001pt; margin: 0cm;">
<span style="font-family: inherit;">The author has suggested that instead of the traditional suggestions of the causes of obesity, the
main causes are instead the increased levels of insulin, heightened insulin resistance
and increased cortisol (stress hormone) levels, putting forth the argument that
obesity is really very much a hormonal issue instead of the widely held belief that it boils down to ONLY personal discipline. </span></div>
<div style="margin-bottom: .0001pt; margin: 0cm;">
<br /></div>
<div style="margin-bottom: .0001pt; margin: 0cm;">
<span style="font-family: inherit;">So as long as one's insulin levels, insulin
resistance and cortisol levels (“Factors”) are managed, one should be able to
maintain a healthy weight / fat levels. </span></div>
<div style="margin-bottom: .0001pt; margin: 0cm;">
<br /></div>
<div style="margin-bottom: .0001pt; margin: 0cm;">
<span style="font-family: inherit;">Essentially it boils down to what
you eat, how often you eat, and how much stress is present in the body, as these
points directly affect the Factors.</span></div>
<div style="margin-bottom: .0001pt; margin: 0cm;">
<br /></div>
<div style="margin-bottom: .0001pt; margin: 0cm;">
<b><u><span style="font-family: inherit;">Solutions to obesity<o:p></o:p></span></u></b></div>
<div style="margin-bottom: .0001pt; margin: 0cm;">
<br /></div>
<div style="margin-bottom: .0001pt; margin: 0cm;">
<span style="font-family: inherit;">The author has identified a multi
factorial approach to tackling the obesity problem: </span></div>
<div style="margin-bottom: .0001pt; margin: 0cm;">
<br /></div>
<div style="margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 36.0pt; margin-right: 0cm; margin-top: 0cm; mso-list: l0 level1 lfo1; text-indent: -18.0pt;">
<!--[if !supportLists]--><span style="font-family: inherit;">1.<span style="font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;">
</span><!--[endif]-->Reduced consumption of added sugars <b><u><o:p></o:p></u></b></span></div>
<div style="margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 36.0pt; margin-right: 0cm; margin-top: 0cm; mso-list: l0 level1 lfo1; text-indent: -18.0pt;">
<!--[if !supportLists]--><span style="font-family: inherit;">2.<span style="font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;">
</span><!--[endif]-->Reduced consumption of refined grains <b><u><o:p></o:p></u></b></span></div>
<div style="margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 36.0pt; margin-right: 0cm; margin-top: 0cm; mso-list: l0 level1 lfo1; text-indent: -18.0pt;">
<!--[if !supportLists]--><span style="font-family: inherit;">3.<span style="font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;">
</span><!--[endif]-->Moderation of protein consumption <b><u><o:p></o:p></u></b></span></div>
<div style="margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 36.0pt; margin-right: 0cm; margin-top: 0cm; mso-list: l0 level1 lfo1; text-indent: -18.0pt;">
<!--[if !supportLists]--><span style="font-family: inherit;">4.<span style="font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;">
</span><!--[endif]-->Increased consumption of natural fats <b><u><o:p></o:p></u></b></span></div>
<div style="margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 36.0pt; margin-right: 0cm; margin-top: 0cm; mso-list: l0 level1 lfo1; text-indent: -18.0pt;">
<!--[if !supportLists]--><span style="font-family: inherit;">5.<span style="font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;">
</span><!--[endif]-->Increased consumption of protective foods (fiber
producing foods, vinegar, etc.) <b><u><o:p></o:p></u></b></span></div>
<div style="margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 36.0pt; margin-right: 0cm; margin-top: 0cm; mso-list: l0 level1 lfo1; text-indent: -18.0pt;">
<!--[if !supportLists]--><span style="font-family: inherit;">6.<span style="font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;">
</span><!--[endif]-->Intermittment fasting <b><u><o:p></o:p></u></b></span></div>
<div style="margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 36.0pt; margin-right: 0cm; margin-top: 0cm; mso-list: l0 level1 lfo1; text-indent: -18.0pt;">
<!--[if !supportLists]--><span style="font-family: inherit;">7.<span style="font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;">
</span><!--[endif]-->Mindfulness meditation <b><u><o:p></o:p></u></b></span></div>
<div style="margin-bottom: .0001pt; margin-bottom: 0cm; margin-left: 36.0pt; margin-right: 0cm; margin-top: 0cm; mso-list: l0 level1 lfo1; text-indent: -18.0pt;">
<!--[if !supportLists]--><span style="font-family: inherit;">8.<span style="font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;">
</span><!--[endif]-->Sleep hygiene <b><u><o:p></o:p></u></b></span></div>
<div style="margin-bottom: .0001pt; margin: 0cm;">
<br /></div>
<div style="margin-bottom: .0001pt; margin: 0cm;">
<span style="font-family: inherit;">My own weight loss experience from
my younger years involved adoption of many, if not all of the solutions above,
except that of solution 6, 7 and 8, which are new to me in the battle of the
bulge.</span></div>
<div style="margin-bottom: .0001pt; margin: 0cm;">
<br /></div>
<div style="margin-bottom: .0001pt; margin: 0cm;">
<span style="font-family: inherit;">I’ll touch on 6 for a bit. </span></div>
<div style="margin-bottom: .0001pt; margin: 0cm;">
<br /></div>
<div style="margin-bottom: .0001pt; margin: 0cm;">
<span style="font-family: inherit;">Folks who have undertaken diets
before, be it low sugar, low fat, low calories / high output, etc might be
familiar with a plateau in weight loss, or a nasty reversion to the original or
increased weight levels.</span></div>
<div style="margin-bottom: .0001pt; margin: 0cm;">
<br /></div>
<div style="margin-bottom: .0001pt; margin: 0cm;">
<span style="font-family: inherit;">What the author suggests is that one
of the keys to unlocking the dreaded plateau or weight reversion is increased
insulin resistance, where eating wrong over many years has resulted in needing more
insulin to absorb similar levels of glucose, and a higher baseline level of insulin
leaving us more ravenous,increasing the storage of glucose / glycogen / fat and decreasing the ability for us to burn fat. </span></div>
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<br /></div>
<div style="margin-bottom: .0001pt; margin: 0cm;">
<span style="font-family: inherit;">In order to tackle increased insulin
resistance, one can undertake intermittment fasting so the body has a chance to
reset the “insulin baseline” and its resistance levels. The author advocates doing a 24
hour fast a few times a week, or a daily 16 to 18 hours fast / 6 to 8 hour eat
timings, but the key is to eat similar level of calories, and of course healthy
food that does not spike your insulin levels to the max. </span></div>
<div style="margin-bottom: .0001pt; margin: 0cm;">
<br /></div>
<div style="margin-bottom: .0001pt; margin: 0cm;">
<span style="font-family: inherit;">It doesn’t mean that because you
only eat for 8 hours a day, once a day, or once every 2 days, that you can gorge yourself silly. In fact, there is a suggestion that following solutions 1 to 5 would lead to increased satiety such that one would naturally know when to stop when enough food has been taken in by the body. </span></div>
<div style="margin-bottom: .0001pt; margin: 0cm;">
<br /></div>
<div style="margin-bottom: .0001pt; margin: 0cm;">
<b><u><span style="font-family: inherit;">Parting thoughts<o:p></o:p></span></u></b></div>
<div style="margin-bottom: .0001pt; margin: 0cm;">
<br /></div>
<div style="margin-bottom: .0001pt; margin: 0cm;">
<span style="font-family: inherit;">The book certainly leaves a lot of
food for thought, and while the above isn’t a comprehensive representation of
the book (there is much more meat that I have been unable to share in this summary), I do hope it has given you some inspiration to delve deeper and that
it assists in the development of your personal health. </span></div>
<div style="margin-bottom: .0001pt; margin: 0cm;">
<br /></div>
<div style="margin-bottom: .0001pt; margin: 0cm;">
<span style="font-family: inherit;">After all, health is wealth isn’t
it? </span></div>
<div style="margin-bottom: .0001pt; margin: 0cm;">
<br /></div>
<div style="margin-bottom: .0001pt; margin: 0cm;">
<span style="font-family: inherit;">Maybe intermittment fasting is
really the key to getting the last few stubborn extra kilograms of fat off my
body. I</span><span style="font-family: inherit;"> shall certainly endeavour to try
this approach in 2020. </span><span style="font-family: inherit;"> </span></div>
Retireby35.SgStylehttp://www.blogger.com/profile/15736910260855155490noreply@blogger.com1tag:blogger.com,1999:blog-5979450665591955790.post-29026770250436987222020-01-04T14:26:00.004+08:002020-01-04T14:26:37.175+08:00Two Months in Italy - Living La Dolce Vita I had the good fortune to spend two months in Italy with my partner during the last quarter of 2019. It was nothing short of an eye opener from many angles, of which the most relevant one to this blog would be that of cost and lifestyle arbitrage. <div>
<br /></div>
<div>
We spent one month in the region of Puglia (southern Italy) and another in Umbria (central Italy), and the conclusion from a cost perspective is that living life in those regions in Italy is way cheaper than in Singapore. Here's a summary of the breakdown in costs. </div>
<div>
<br /></div>
<div>
<b><u>Airfare</u></b></div>
<div>
<br /></div>
<div>
S$915 per pax on economy class via Turkish Airlines, with a stopover of four nights in Istanbul. </div>
<div>
<br /></div>
<div>
<b><u>Accommodation </u></b></div>
<div>
<br /></div>
<div>
This was c. S$1,750 per month for a private ground floor apartment with an adjacent outdoor space (garden / farm) through AirBnB. </div>
<div>
<br /></div>
<div>
Indoor space was roughly 1,000 to 1,200 square feet, and outdoor space was so bountiful that I find it hard to put it down in numbers. We had long term stay discounts of up to c. 20%. </div>
<div>
<br /></div>
<div>
One thing to note is that gas is charged separately during winter months in Italy. For our 2nd month in Umbria, it started to get pretty cold and necessitated the use of some heating. This cost an additional EUR80 for that month (c.S$120). </div>
<div>
<br /></div>
<div>
<b><u>Car Rental</u></b> </div>
<div>
<br /></div>
<div>
This was c. S$650 per month. The places we stayed at weren't exactly well connected by trains and public transport. It necessitated the use of a private vehicle. To minimize any chagrin from my partner, I decided to rent a private car instead of hitchhike, ride motorcycles or bicycles :) </div>
<div>
<br /></div>
<div>
We rented a car from Hertz via a car rental broker (AutoEurope / Kemwel) with full insurance for 2 months. It was a small manual economy class car (FIAT Panda / 500) that was suitable for ferrying 2 people. </div>
<div>
<br /></div>
<div>
<b><u>On the Ground Expenses</u></b></div>
<div>
<br /></div>
<div>
These included visiting tourist sites, groceries, eating out, fuel, buying stuff, etc. This came up to a total of c. S$1,300 per pax per month. </div>
<div>
<br /></div>
<div>
It was about c. S$950 per pax per month in our first month in Puglia, and rose to c.S$1,650 per pax per month in Umbria. Why is there a remarkable difference here? </div>
<div>
<br /></div>
<div>
A large part of these expenses stemmed from groceries and ristorante meals. </div>
<div>
<br /></div>
<div>
During our first month in Puglia, we spent more time at home cooking and less eating out. The ratio of home cooked meals to ristorante meals was probably 2:1. </div>
<div>
<br /></div>
<div>
This decreased to 1:3 or 1:4 in our 2nd month in Umbria, probably because food and wine in Umbria was so delicious that we decided to spend more time and monies enjoying them, and the cost of living in Umbria is higher than Puglia, roughly by about 20 to 30% or so, which largely explains it.</div>
<div>
<br /></div>
<div>
That said, even the most expensive ristorante meals didn't break the bank. I reckon the most we actually paid for a meal out was c.80 EUR (c.S$120), and that was with the full works that included antipasti, primi piatti, secondi piatti, dolce, cafe and of course vino. </div>
<div>
<br /></div>
<div>
And we had some really great meals at some great restaurants (especially in Umbria) at such good value that it has shown me that Singapore prices for eating out are really quite over the top. Perhaps more towards that of Swiss prices but without the same standard. Put your hands up for the Swiss standard of living (or rather, prices), anyone? :p </div>
<div>
<br /></div>
<div>
One case in point was when we hit a famous ristorante in Montepulciano for bistecca. They charged us EUR42 (c. S$65) for a 1.2kg Sirloin, and it was grilled to perfection. I'm not sure whether one can even find such a deal in Singapore's overpriced F&B market, but do let me know if there is a comparable deal available. </div>
<div>
<br /></div>
<div>
Separately, I found fuel cost to be pretty steep in Italy. The car ran on unleaded petrol (senza piombio benzina) of E5 (think RON95) quality. The cheapest fuel was EUR1.50/l (c.S$2.25/l). I think this is more expensive than Singapore, and possibly the only thing more expensive than Singapore (putting aside gas prices and taxes). </div>
<div>
<br /></div>
<div>
Diesel was about c.10% to 15% cheaper but though diesel cars cost 10 to 15% more to rent. </div>
<div>
<br /></div>
<div>
I'm not quite sure whether diesel run cars are more efficient than petrol run cars, but I do know that the FIAT petrol run cars aren't exactly the most fuel efficient ones, when comparing to the usual Japanese / Korean makes. </div>
<div>
<br /></div>
<div>
<b><u>General Thoughts</u></b></div>
<div>
<b><u><br /></u></b></div>
<div>
Those two months in Italy were certainly a god send. Amongst other things, it showed me that price and lifestyle arbitrage can also be found in developed countries, perhaps more in the southern and eastern parts of Europe. </div>
<div>
<br /></div>
<div>
This little jaunt has shown that it is certainly possible to attain European standards of living with lower than Singapore costs of living, especially when major costs such as housing, transport, and food is cheaper than Singapore. </div>
<div>
<br /></div>
<div>
In addition, the food was so fresh in Italy, where farm to table seemed to be the standard rather than something to be marketed and sold more dearly. Not to mention the abundant space, fresh air, and warm hospitality. </div>
<div>
<br /></div>
<div>
We didn't quite venture much into the usual tourist haunts, and were the only Asian couple in a largely European demographic most of the time. Also, our limited , or rather, non-existent command of Italian didn't quite hamper the hospitality we enjoyed, and even in quiet areas in various small towns, there was no point in time where we ever felt unsafe. </div>
<div>
<br /></div>
<div>
Looking back, I do wish that either one of us could speak Italian. That would have facilitated interactions more easily, and perhaps we could have been able to form deeper connections with our AirBnB hosts, and the people around us. </div>
<div>
<br /></div>
<div>
That said, I do feel that the only drawback for living such a lifestyle in a foreign land, though while certainly a value play in my book, is that it lacks a viable form of sustained community. </div>
<div>
<br /></div>
<div>
Sometimes, it's nice to have deep conversations with different people in person. The internet, and wine, can only do so much. </div>
<div>
<br /></div>
<div>
But maybe I'm just being picky, because I would have done this trip all over again. However, I'll do so with a better grasp of Italian the next time round. :) </div>
Retireby35.SgStylehttp://www.blogger.com/profile/15736910260855155490noreply@blogger.com2tag:blogger.com,1999:blog-5979450665591955790.post-33841387209716382882019-12-19T22:22:00.000+08:002019-12-19T22:22:10.707+08:00Expenses - November 2019 <div class="separator" style="clear: both; text-align: center;">
</div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjct4S2HAgA_DfRNMH_i4o3D17vZvNUEw0nrNKkMTa9EhRscl1LspOlXuD-7qYi0kvtsE5IS3c_lnSJRKgiAEvyW-ezpUQaa83OyE-kOxZLIVvZI7N9-NECdI_-vaDv_g14BjcTwxy-S_BI/s1600/Nov+2019+Expenses.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" data-original-height="396" data-original-width="667" height="189" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjct4S2HAgA_DfRNMH_i4o3D17vZvNUEw0nrNKkMTa9EhRscl1LspOlXuD-7qYi0kvtsE5IS3c_lnSJRKgiAEvyW-ezpUQaa83OyE-kOxZLIVvZI7N9-NECdI_-vaDv_g14BjcTwxy-S_BI/s320/Nov+2019+Expenses.jpg" width="320" /></a></div>
<br />
<br />
Total expenses for November 2019 amounted to S$3,968.98.<br />
<br />
The largest was under Self Improvement. This is largely attributed to prepaying for a 12 month yoga class membership, which was selling at a good rate. I predict I'll spend more time in Singapore next year, which makes it worthwhile to plonk down some cash to restart my once fledging yoga practice, that is now yellow and withered.<br />
<br />
I got back from Europe towards the end of November. So logically that constitutes the next largest expense category for the month. The third being donations, as I prepared to head out to Malaysia for a short meditation retreat in December.<br />
<br />
Also spent some money on Diving, having put down a deposit for a diving trip with a diving buddy that's to be used next year.<br />
<br />
Anyhow, I came in just below the S$4,000 mark, which is all good, and where I want to be at this point in time.Retireby35.SgStylehttp://www.blogger.com/profile/15736910260855155490noreply@blogger.com2tag:blogger.com,1999:blog-5979450665591955790.post-12011831268984793602019-12-17T15:58:00.000+08:002019-12-17T15:58:17.977+08:00Expenses - October 2019<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEipTuvOvi1GuCp03L0-sMdb7AeHSXVWcl2s9PCuqS-s72kYgfzxefWMELxgkAR0CROtgqw70GmwftZmAvE1nMDUoHdmFSJQpD7o_qpYQBTSIObu4nGDBeRsLaDjis2gNr1vGdygdBVJ9DmF/s1600/Oct+2019+Expenses.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" data-original-height="396" data-original-width="667" height="189" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEipTuvOvi1GuCp03L0-sMdb7AeHSXVWcl2s9PCuqS-s72kYgfzxefWMELxgkAR0CROtgqw70GmwftZmAvE1nMDUoHdmFSJQpD7o_qpYQBTSIObu4nGDBeRsLaDjis2gNr1vGdygdBVJ9DmF/s320/Oct+2019+Expenses.jpg" width="320" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">Total - S$1,500</td></tr>
</tbody></table>
October 2019 total expenses was S$1,500.<br />
<br />
The entire month was spent in Italy, Europe. So a large part of it (S$1,418.97) went to topping up my Youtrip debit card account. The EUR/SGD actually declined a little bit since September, and we managed to get some good rates from Youtrip when spending on our debit card, vis a vis credit cards (but you get certain points or rewards in return eh...).<br />
<br />
Some fixed expenses such as Netflix, Insurance and Mobile Phone continue to churn along even though as I'm overseas, but it ain't a problem.<br />
<br />
S$1,500 represents 37.5% of my monthly S$4,000 budget, and there's quite a bit of surplus left. The benefit of front-loading certain holiday expenses come through here :)Retireby35.SgStylehttp://www.blogger.com/profile/15736910260855155490noreply@blogger.com0tag:blogger.com,1999:blog-5979450665591955790.post-26699756861927742812019-12-14T15:19:00.001+08:002019-12-15T17:52:27.851+08:00Expenses - First 12M of F.I.R.E<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgI41mmCw55ZqMqaG77ZZkUWrHVa_2z7C5hURbyi72g5M74mUzf9xnlWhhgfCBLlcH9NWN3YDYp_J8ssxjGOGpR17kxfDcMSLsVQZm3HXUSifqZhWOkJ_d0tOTgbpJ2lC0qIpxEV4cq104V/s1600/12M+ending+31+Aug+19+Expenses.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" data-original-height="562" data-original-width="860" height="209" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgI41mmCw55ZqMqaG77ZZkUWrHVa_2z7C5hURbyi72g5M74mUzf9xnlWhhgfCBLlcH9NWN3YDYp_J8ssxjGOGpR17kxfDcMSLsVQZm3HXUSifqZhWOkJ_d0tOTgbpJ2lC0qIpxEV4cq104V/s320/12M+ending+31+Aug+19+Expenses.jpg" width="320" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">Total - S$46,098.58</td></tr>
</tbody></table>
<div class="separator" style="clear: both; text-align: center;">
</div>
One year has gone by since I started by post F.I.R.E life. It's time to measure how much resources I've spent, and how these resources have been allocated, mainly because that which gets measured, can then be managed.<br />
<br />
My annual budget at least for the first few years post F.I.R.E has been set at S$48,000. The first 12 months saw a total amount of S$46,098.58, which is 96.0% of the budget, leaving room for 4.0% surplus.<br />
<br />
Largest spending category was Diving. Scuba Diving to be exact. I think I mentioned this before, but since December 2018, I've been taking up advanced certification courses, and am in the midst of doing my Divemaster program. I've also purchased a full set of diving equipment given the cost of dive will be lower in the future. All this, together with the spend for diving holidays, have led to Diving expenses coming in at a total of S$9,374.15. That's a pretty hefty amount, but I guess the benefits (mostly non-monetary) are commensurate :)<br />
<br />
Second largest spending category was Eating Out at S$7,463.87. I'm not surprised as I do eat out most times, and though I'm not one to go crazy for broke, this all adds up. However, to take things in perspective, this works out to be $20 per meal, assuming I did eat out once every day. So this is probably fine.<br />
<br />
Third largest spending category was the one and a half month North America Vacation that I took in the middle of 2019. This came up to S$6,158.62. North America has a really high cost of living, and this is reflected even in the AirBnB prices. Eating out there costs a bomb, and I'm thankful that this figure is what it is, given it could have been even higher if I didn't enjoy the generosity of my friends who hosted me during a good part of my trip.<br />
<br />
Of course, coming just below the North America Vacation expenses were my other Vacation and Europe Trip expenses. I did a rough count and reckon I probably spent 30% of the entire first 12 months post F.I.R.E (3.6 months) overseas. The associated total vacation expenses added up to c. 37% of my total spending.<br />
<br />
I'm not quite sure whether I'll spend that much time travelling as I grow into this lifestyle, so I gather there's a bit of flex in cutting expenses if really necessary in the future.<br />
<br />
Notwithstanding the amount came up to c. 10.5% more than the year ended 31 Aug 2018 when I was still in employment, all in all, I think I really did push the limit on my expenses for the first year post F.I.R.E, in terms of going out there to really do some exploring, living, and learning new skills, while keeping a small budget surplus at the end of it.<br />
<br />
I'm pretty satisfied and content - I wouldn't have asked for anything more from the year that has passed.Retireby35.SgStylehttp://www.blogger.com/profile/15736910260855155490noreply@blogger.com0tag:blogger.com,1999:blog-5979450665591955790.post-44505889674007152122019-12-14T13:38:00.001+08:002019-12-16T10:31:02.210+08:00Expenses - September 2019<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjs2P-MiWI0lwEkzBS7dB3O39VxW6YUyJNdOLEYn8HXKtRgd-sVPCzMly-nQCgrGBMvUc5kytroK6jej3sjW1JXqf0_M_hPzqY_oO-XNm8YZrFzT7A9lBD2VW5yOvPTqLWFPiHulQd3irpd/s1600/Sep+2019+Expenses.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" data-original-height="402" data-original-width="667" height="192" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjs2P-MiWI0lwEkzBS7dB3O39VxW6YUyJNdOLEYn8HXKtRgd-sVPCzMly-nQCgrGBMvUc5kytroK6jej3sjW1JXqf0_M_hPzqY_oO-XNm8YZrFzT7A9lBD2VW5yOvPTqLWFPiHulQd3irpd/s320/Sep+2019+Expenses.jpg" width="320" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">Total - S$3,900</td></tr>
</tbody></table>
Start of brand new post F.I.R.E year.<br />
<br />
Month 13 saw the lion's share being contributed by my upcoming Europe trip, as cold hard Euros were exchanged at the money changer, and some SGD was placed in a Youtrip account for use via debit card in Europe.<br />
<br />
Eating Out was the next category, and surprisingly Petrol came in third, as I spent some money topping up my family car after some use.<br />
<br />
Not quite much to delve into here, and possibly the next couple of months in Europe as expenses will most likely fall into the category of "Europe Trip", which possibly warrants a separate post on how much we spent in Europe over 2+ months.<br />
<br />
Anyhow, total spend amount of S$3,900 came in within the budget of S$4,000, with a 2.5% surplus. A decent way to kick off my 2nd year of F.I.R.E.Retireby35.SgStylehttp://www.blogger.com/profile/15736910260855155490noreply@blogger.com0tag:blogger.com,1999:blog-5979450665591955790.post-26398978860817895982019-12-14T12:43:00.004+08:002019-12-14T12:43:42.971+08:00Expenses - August 2019<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgTLh4HUdFv2jHZPxnXTmyA2QR5S-fq8jE9ctwSUvmty58IL5ozOlH17b_ec_8NvdvzfoIviWju8jNzi2lenm7c__gw8TBO65uUcMUIbJnNWX4777J34UhO5JqkQQEZttyP73BM0lMP3Qo4/s1600/Aug+2019+Expenses.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" data-original-height="402" data-original-width="667" height="192" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgTLh4HUdFv2jHZPxnXTmyA2QR5S-fq8jE9ctwSUvmty58IL5ozOlH17b_ec_8NvdvzfoIviWju8jNzi2lenm7c__gw8TBO65uUcMUIbJnNWX4777J34UhO5JqkQQEZttyP73BM0lMP3Qo4/s320/Aug+2019+Expenses.jpg" width="320" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">Total - S$3,684.98</td><td class="tr-caption"><br /></td></tr>
</tbody></table>
Total expenses for August 2018 came up to S$3,684.98. Spent a fair bit eating out and catching up with different folks, this being the one of the few whole months that I was based in Singapore.<br />
<br />
The 2nd largest category was Technology. Bought a small tablet that will allow me to borrow books through the Libby application (via local National Library online resource), which will hopefully ease the eye strain on reading via the phone. Also plonked down a good S$500 or so on a Secretlab Softwave fabric chair (by the way, this rocks socks), on the pretext on protecting my body health since I'm in front of the computer for a good period of the day.<br />
<br />
The 3rd largest category was Insurance. Bought a new annual travel insurance given a sizable amount of foreseeable travel in the next one year.<br />
<br />
Expenses for the month came in at 92% or so of budgeted expenses, leaving c.8% of surplus. This ain't too bad. Aug 2019 marks my first full year of F.I.R.E, and perhaps I'll do a detailed breakdown of my realised expenses for this full year in my next post.Retireby35.SgStylehttp://www.blogger.com/profile/15736910260855155490noreply@blogger.com0tag:blogger.com,1999:blog-5979450665591955790.post-44867219797122154222019-09-11T16:41:00.001+08:002019-09-11T16:41:24.476+08:0012 months of F.I.R.EIt has been a little more than 12 months since I left the workforce in entirety. Perhaps it's a good time to take stock of what has transpired.<br />
<br />
Just to put things in perspective, 12 months of full time unemployment pursuant to the decision to leave the workforce due to F.I.R.E (financial independence, retire early) probably isn't the most illuminating of sorts, but perhaps it'll provide you with a sliver of reckoning that will allow you to consider another perspective of what has been theorized about, but perhaps rarely done in the age range of < 35 years old, single and male demographic.<br />
<b><u><br /></u></b>
<b><u>What have I been up to?</u></b><br />
<br />
In summary, I spent the last year decompressing, and getting used to a lifestyle that comprises large chunks of unscheduled time. I've taken some opportunities to further develop myself, spent quite a lot of time developing new relationships and maintaining old ones, and exploring the world.<br />
<br />
I've had the chance to, in no particular order of substance nor merit:<br />
<br />
<ul>
<li>Spend a lot of time in pursuit of nothing much in particular, and having the mind and heart space to choose what to do for the day</li>
<li>Practice yoga fervently during off-peak hours from Sep 2018 till Mar 2019</li>
<li>Do loads of reading, covering various subjects ranging from Relationships to Buddhism</li>
<li>Attend four silent meditation retreats spanning between 8 to 12 days each overseas </li>
<li>Invest my money freely without any well-meaning but overbearing restrictions placed on me </li>
<li>Increasingly hold space and be there for friends, family and loved ones in my life </li>
<li>Pick up scuba diving in earnest again, and dived in some of the nicest spots in Asia (Lembeh and Maldives are top of mind) </li>
<li>Take various exploratory trips over the world, and spent some time in Kuantan, Chiang Mai, Mae Hong Son, Phuket, Khao Lak, Bali, Taipei, Tainan, Taichung, Vancouver B.C, New York, California</li>
</ul>
<br />
<br />
<b><u>Dark Side</u></b><br />
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Long time readers would know RB35 is a rather pessimistic character. Perhaps I got that from my job, where I would constantly fret about the downside. Anyway, this might be a good way to go into detail on the bad things about F.I.R.E, in the event the introductory paragraph wasn't that clear in putting forth the notion that F.I.R.E ain't a panacea for all problems in life.<br />
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<b>Loss of Identity - </b>Truth is I didn't quite identify myself with the the notion of an investment banker, even though I came through the ranks. When folks asked what I did for a living, I chose to embrace the saying of "Corporate Finance" in order to end it at there instead of going with the answer of "Investment Banking", in order to minimize any undue or unnecessary attention.<br />
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However, I did feel like I lost a part of my identity, especially when it comes to strangers or acquaintances asking what I did for a living. Till today, I still reply that I'm on a bit of an extended sabbatical, and I used to work in Finance. Sometimes I get comments such as "burnout ah?", or "sorry to hear you got let go", which ain't a correct representation of my situation.<br />
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For me, I left because my expenses were way lower than my passive income. Even though more than 12 months have surpassed, I have not drawn down on my invested portfolio yet. Further, I'm operating on a budget that is at a significant discount to my invested portfolio.<br />
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I recall this coming right at me when I was at a dive trip recently. Folks there asked what I did - I said I was taking a break. They assumed, quite out spokenly that I need a break from the grind, and I would go back soon. I did not bother to correct them , and honestly it didn't quite matter to me. But their gazes say it all - "Poor you, I hope you find something soon, otherwise..."<br />
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In short, if it matters to you, your ego could take a hit, without full time employment.<br />
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<b>Loss of Financial Leverage </b>- When you ease into full time unemployment, you rapidly lose access to financial leverage.<br />
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Be it through a mortgage loan (have not tried but highly suspect so), credit card (tried and was duly rejected), or other credit loans (if credit cards fail, this should fail thoroughly), you won't be able to lever up your investments. Perhaps you can take margin on your personal account trades, but I have not tried, but do not recommend taking margin.<br />
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Have applied for a credit card as a test bed and was rejected as a nil income case. So unless you figure a way out to buy your apartment (not quite smart to pay up front in cash as opposed to a minimum 20 year monthly amortizing loan), or maybe take a credit card, you are pretty much stuck with CASH only basis from now on.<br />
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To me, the only concern here would be property purchase. Credit cards aren't much of an issue given I already have a few of those on hand that should be willing to extend going forward.<br />
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<b>Conformist Questions - </b>When you have managed to get to where you got to by generally conforming to overarching societal expectations (getting good grades, building an impeccable resume, working hard in your job, etc) over the last 30+ years of your life, some days you wake up and ask yourself WTF you are doing with your life.<br />
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You do wonder whether it makes sense to chill out, read, do yoga, meditate, slack off, etc when most of your peers are out there putting their nose to the grind. You question whether this fabulous post F.I.R.E life is better for you in the long run.<br />
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No doubt, you have lower levels of stresses, but you sometimes wonder whether you're doing the wrong thing when you're one of the few buggers in your generation living this life...<br />
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The nationally supported notion of needing to constantly increase productivity still rears its head from time to time, especially when I have totally slack off days, it comes up unsuspectingly and asks in a purely innocent manner: "RB35, you did jack shit today... oh yes maybe you read some stuff and worked out, but don't you feel like you're not making the best use of your life?"<br />
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<b>Worries - </b>I had no doubt that terminating my employment post F.I.R.E wouldn't mean the elimination of all my worries, but I'll like to bring up this point so as to emphasize to all folks looking to F.I.R.E as a cure all, that one will still have worries even after post F.I.R.E.<br />
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No doubt, stresses of work are lifted of your shoulders, but deep seated worries still remain, and will be elevated to take the place of your old work worries.<br />
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For me, some parts of it are financial worries, even if it doesn't make any rational sense to be worrying about this given my financial position, and others were whether I was making the best use of my life doing what I am currently doing, even if that exploration is still a work in progress.<br />
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<b>Loss of Community</b> - The first to go are your work friends. Those are your colleagues, because there isn't anything else to commiserate on and bind you guys together anymore.<br />
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Also, unless you have a group of close friends, family or life partner who have shared interests outside of work or with a similar outlook, you'll find yourself mostly alone, because well, most folks have to go to the office.<br />
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If you need activity partners, then you'll need to find a new group of friends. Bu<span style="background-color: white;">t if you're introverted like I am, then this wouldn't be too much of an issue. In fact, I do appreciate the quietness of life. However, it is sometimes a bit disheartening to see some friends drifting away because we don't share similar paths in life now. </span><br />
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<b><u>Bright Side</u></b><br />
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I reckon there are many sites that have listed the benefits of F.I.R.E, so I'll just pen down what I feel are the main bright points in my journey thus far. </div>
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<b>Off Peak </b>- Life is now lived off peak. It is a great feeling having the choice to choose when to travel on the MRT.<br />
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Obviously I try to avoid the crowds as much as possible. Grocery shopping, meals out are mostly done outside the usual lunch / dinner timings, because - no need to be competing with the masses there.<br />
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Movies are seen on weekday afternoons at cheap rates. Pro tip - Golden Village offers members (free membership) S$7 ticket Tuesdays. No more having to deal with crazy crowds in the cinema for me.<br />
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Yoga classes can be scheduled in the late morning or early afternoon, with lesser people per class to boot, translating into more individual attention from the teacher. </div>
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<b>Increased Degrees of Freedom </b>- On paper, I've gained at least an additional 10 hours a day of my life to do whatever I want to do. And I don't have to deal with the stress of having to think through solutions for work problems when I'm out of the office, which takes up more time.<br />
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In an instance, there's now quite a lot of free space to delve into personal exploration and other journeys. A good 30 to 50% of my days, I wake up, and then decide what I'll like to do for the day. This level of freedom is much appreciated and valued.<br />
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That being said, it's not like one will be totally free from responsibilities. You'll still have responsibilities to yourself, your loved ones, your friends, society (national service, taxes, etc.) that needs to be fulfilled, but hey, I do feel this is as good as it gets. </div>
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<b>More Space for Relationships</b> - The release of work responsibilities comes with increased mental space, that I feel is so essential to cultivating and maintaining relationships.<br />
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Perhaps I'm not naturally adept at dealing with more work and personal responsibilities concurrently, and maybe that's something I have to work on if I decide to take on further economic responsibilities in the future, but for now, the happiest times are being fully present with my loved ones doing the simplest of things, such as taking a long walk, preparing a home cooked meal, having a conversation over a glass of wine, or just chilling in general.<br />
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More space allows for you to accommodate and plan around the schedule of others. It allows for you to be there, fully. It allows for more choices. It helps to develop and maintain relationships, and in this world, having close personal relationships with a few loved ones is certainly something to cherish, and it does make life more fulfilling for me.<br />
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<b><u>What's next? </u></b><br />
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To be perfectly honest, I'm not quite sure.<br />
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I know that I'll be spending a couple of months in Europe with my partner soon, and that'll pretty much round up the end of the year. I'm also in the middle of a diving course that's conducted over six to seven full weekends, and might have a silent retreat coming up in December.<br />
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Other than the above, there's nothing committed at this point.<br />
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I know I'll like to devote more time to a consistent yoga and meditation practice when I'm back, and perhaps I'll try out for a 200 hour yoga teacher course if the right teacher pops up.<br />
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And I'll like to lean towards more of a routine next year, to learn or do something different (perhaps formally in an education system, or through volunteering with my local meditation group) that might be helpful to my immediate circle of friends and family.<br />
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But nah, I don't think I'll head back to full time employment over the course of this year, because even though this isn't a perfect lifestyle (none is), it certainly is good enough for me, and it does feel like my life is just beginning, or perhaps the post F.I.R.E glow hasn't quite worn off yet :)<br />
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Retireby35.SgStylehttp://www.blogger.com/profile/15736910260855155490noreply@blogger.com7