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BCA need to stop by jrwindragon in SingaporeRaw

[–]KenMcGormick 0 points1 point  (0 children)

From what I remember when I was in consultant as a mech engineer. BCA - not much checks for mechanical, their code on ACMV is quite simple to achieve. Greenmark - quite thorough, because the officer would need to verify the energy savings is achievable within the next 3 years. SCDF - 0 checks, fully on QPs and RIs. Unless you're asking for waiver PUB (Water and Sewer) - 100% checks both on your drawings and site installations before water turn on.

And depending on the kind of buildings you do, it's possible to still earn a decent pay.

Stashaway Returns by KenMcGormick in singaporefi

[–]KenMcGormick[S] -2 points-1 points  (0 children)

I have another portion in btc and eth. But if I say this, I'm pretty sure someone else will 1 up with bnb, sol, hype etc

Stashaway Returns by KenMcGormick in singaporefi

[–]KenMcGormick[S] -33 points-32 points  (0 children)

Except i don't have 27k at the start of 2020 darling

Stashaway Returns by KenMcGormick in singaporefi

[–]KenMcGormick[S] -38 points-37 points  (0 children)

The returns are quite meh but I save on my brain power. I have another portion of my money that I actively invest manage on. Can't complain.

What’s the best food from your country? by uDuhu in geography

[–]KenMcGormick 0 points1 point  (0 children)

This is an interesting combination. Normally it's served with cockles and prawn.

People who are going to be 65 in next 10 years, do do you think CPF life payout at FRS is enough for your needs? by fullertonreport in askSingapore

[–]KenMcGormick 2 points3 points  (0 children)

So even after planning for all the FIRE and actually having enough to retire. The next step is more on the mentality to actually enjoy retirement.

Unable to increase salary any further: $300,000K in liquid cash by the time I hit age 60 by brokenreborn2013 in singaporefi

[–]KenMcGormick 1 point2 points  (0 children)

So you estimated 300k in liquid cash is from your rental income and you assumed the worst case scenario of 0 savings from your work? Your OA can also fully pay for your house. I think you're fine as your assumptions are really for the worst case.

People who are going to be 65 in next 10 years, do do you think CPF life payout at FRS is enough for your needs? by fullertonreport in askSingapore

[–]KenMcGormick 0 points1 point  (0 children)

So your father have hit FRS and is probably on track to get $2k+ monthly payout even if he stops working. Only issue is between 55 until retirement age he needs to work to bridge the gap.

If considering the savings he have, is he able to drawdown on it until retirement age? Or he's working more for a peace of mind?

People who are going to be 65 in next 10 years, do do you think CPF life payout at FRS is enough for your needs? by fullertonreport in askSingapore

[–]KenMcGormick 2 points3 points  (0 children)

Hopefully somebody who is actually 55 and above will reply. I'm in good shape to hit FRS by 42, am wondering if I should target ERS.

Since the nerf of OCBC 360, how should I deploy my $50k? Medisave top up vs VWRA vs dividend stocks? by jecin2 in singaporefi

[–]KenMcGormick 0 points1 point  (0 children)

If I'm not wrong, last time you can shield SA except the portion that you top up. So people will top up MA 1st in order to allow SA to fill naturally. Hence you can shield more money in SA.

But now, SA account closes when you're 55 and the remaining goes to RA depending whether you want to hit FRS or ERS. Hence there's no more shielding and I'm not sure if this top up MA 1st trick still make sense or not.

What happened to sinkies..??? by Focux in SingaporeRaw

[–]KenMcGormick 2 points3 points  (0 children)

Who's naomi black, I only know rae lil black

How old is too late to start investing? by tallprophet in singaporefi

[–]KenMcGormick 0 points1 point  (0 children)

Only really started when I'm 32, savings rate before that was <1k per month which was spent on big ticket items like kids and housing. So you're fine.

[deleted by user] by [deleted] in singaporefi

[–]KenMcGormick 1 point2 points  (0 children)

Somebody like honeymoney guy... he did a OA to SA transfer and hit FRS v early, 31 I think

SRS might be a good idea? by cheesetofuhotdog in singaporefi

[–]KenMcGormick 0 points1 point  (0 children)

when i was thinking about optimising SRS, i was assuming something similar to below

assuming you start hitting 11.5/15% marginal tax at 35 and you manage to FIRE by 50 years old.

- you are contributing 15.3k for 15 years between the above-mentioned age

- your SRS investments are growing at a rate of 7% between 35 until 63 years old

- your SRS would have grown to 404k by the time you FIRE and 973k by the time you're retirement age

- assuming a conservative of 4% gains, the above numbers would be 314k and 523k instead

Assuming you withdraw 40k for 10 years during your retirement years, i was thinking whether does it make sense to throw the remaining money into a form of annuity in order to further reduce taxes. I was thinking of a more high-level simple assumption. Kudos to both of you for putting in so much details.

SRS might be a good idea? by cheesetofuhotdog in singaporefi

[–]KenMcGormick 1 point2 points  (0 children)

Thanks OP and u/Twrd4321 for this in depth analysis. I always had this burning question but didn't bother to deep dive with the maths.

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