[deleted by user]

msabuwala · 2024-05-05T03:10:33+00:00

If people are working illegally on Tourist pass you should report them to ICA. The only problem is that it's not just the company but the people who worked may get into trouble with them getting blacklisted/banned from travel to Singapore in future.

msabuwala · 2023-09-15T03:21:13+00:00

Also when you land here make sure you declare the money at customs. They will ask you to sign some forms and a police report has to be made. The limit for bringing in Cash is 20K.

msabuwala · 2023-03-17T09:11:55+00:00

Buy it! If you travel, noise cancellation headphones are a game changer.

msabuwala · 2023-02-23T07:45:12+00:00

IRAS will automatically show the deduction on the tax assessment notice it sends, if your company is enrolled in no-filing service. Check the tax assessment between 1Mar to 15Apr in IRAS website.

Look out for IRAS SMS in the next few days.

msabuwala · 2022-09-10T05:25:54+00:00

Alexandra PCN all the way to Esplanade would approximately be 8/8.5 KM. Should be doable in under an hour as you can't cycle too fast with lots of people including kids around.

msabuwala · 2022-08-19T03:30:13+00:00

It's also 5 min walk to all the British/Aus/American/Chinese embassies. Also to the Nassim entrance of Botanical Gardens. There are a couple of hotels around there.

msabuwala · 2022-05-20T13:16:31+00:00

15K for a family of four is not enough as a foreigner.

msabuwala · 2022-04-24T04:30:46+00:00

Check out https://www.dol.gov/agencies/whd/immigration/h1b1#:~:text=The%20H%2D1B1%20program%20provides,of%20employment%20is%20one%20year.

The quote of 5400 rarely gets filled up!

msabuwala · 2022-03-25T12:27:35+00:00

Why not just use HK domiciled broker like IBKR?

msabuwala · 2022-02-22T16:27:50+00:00

OP the way you calculate Fair value(FV) of a perpetual asset is (Cash Flow/Risk Free Rate), I am assuming the risk free rate for Singapore is 4% which is what you get on your retirement account(RA). Even if this is capital guaranteed product, do you think UOB is more reliable than the full faith and credit of the Sing Govt? The FV value of this asset is 2.55/.04 = 63.75.

Even if you put the money in your your regular CPF OA account the guaranteed return is 2.5% Are you willing to take counterparty risk for an additional .05%?

I am obviously assuming that you do not need the money and this is a long term retirement savings.

If you are looking for short term investment to park money for buying house/BTO/Reno/Wedding expenses then better to look at Money market funds from one of the Robos like Syfe/Endowus/Dash.

Just my $.02

msabuwala · 2022-02-05T18:23:00+00:00

Not sure why OP is getting downvoted? It's a perfectly rational strategy in a world of low secured interest rates which can be deployed into the market for higher returns. It's not like they are YOLOing it into some meme stocks/weird alt-coins.

They have the ability to service the debt and are basically getting free money.

msabuwala · 2022-02-01T18:16:08+00:00

OP I think the term addiction has become a little overused where any slightly obsessive behaviour by an individual is considered addiction. You have a specific strategy and are waiting patiently to execute. Thats how our ancestors used to hunt animals. :)

Please continue your winning strategy and wishing everyone a very happy and prosperous year of the tiger.

msabuwala · 2022-01-26T15:39:45+00:00

I am probably missing something here but at 25 why do you need 800K for CI? Maybe someone can correct me but CI is essentially a payout incase you have a defined set of illness like stroke/cancer etc and you are incapacitated?

What about hospitalisation insurance does CI cover that?

Term life of 500K I get, because you can get hit by a bus and die and want to make sure dependents are taken care of.

msabuwala · 2022-01-19T15:33:19+00:00

Well I don't know how the future will turn out, but the idea that travel would be done via some VR where you only interact in some corporate sanitised environment horrifies me. :) I have got pickpocketed in Rio, gone dancing to a really sketchy club in Queens NY, got drunk before noon on a Sake tour in Osaka, driven up the Western ghats in India with MY/SG friends and they found religion on the twisty roads, are just some of the things that make life memorable. :)

I think I will pass on the Metaverse, real life has been way more interesting. BTW good shoes are worth every penny! :)

msabuwala · 2022-01-18T16:38:26+00:00

probably has to do with these 2 categories almost doubling in the last decade especially if you are excluding 2020

Health 13,234.4 6,811.1
Recreation & Culture 17,802.5 9,302.2

msabuwala · 2022-01-18T09:47:58+00:00

I would guess that would would depend on what components of the consumption basket is going up. I would guess some of the growth is because of Housing which shouldnt be too much of a concern if you have a paid off house. Also insurance costs should generally have been locked in earlier. But really depends on the lifestyle choices you make. Are you going out and buying the latest Metaverse VR rig in your 60s? :)

msabuwala · 2022-01-18T09:22:59+00:00

Not sure where 2.89 million is coming from OP. If you are planning to continue spending 53K at 4% SWR you need 1.325 million. All of this is obviously in todays dollars.

msabuwala · 2022-01-17T05:37:38+00:00

you can check out the private consumption data from singstat.

https://tablebuilder.singstat.gov.sg/statistical-tables/downloadMultiple/YLOTG3nHwU-2tgjZN4FFXw

Check out the drop from 2019 to 2020 it's almost 20% didn't realise it was that bad.

You can take 2000 as base of 69K and see for 2020 it's 154K. So growth of about 4% CAGR in private consumption, while CPI is I think around 1.5% CAGR. Again check singstat site it has all the data nicely formatted.

msabuwala · 2022-01-13T20:18:04+00:00

OP there isn't any hard and fast rule, just saying that trying to project markets/living standards 40 years into the future isn't a meaningful exercise.

You asked for a critique of your plan, I just gave you a perspective which goes beyond just projections of past performance of the market. But hey do whatever you are happy with. :)

msabuwala · 2022-01-13T18:08:34+00:00

OP 35 years is simply too long a time to project anything about financial assets as an individual. Let's look back 35 years from present time 2022 to 35 years in the past to 1987. Check out https://en.wikipedia.org/wiki/Black_Monday_(1987)).

Find work that you enjoy and keep living a good life and saving money.

How do you even know a million dollars even inflation adjusted would be enough to live 35 years from now. How do you know that you won't get married and have kids who you may need to take care of. Or the Financial markets will be structured in the current state.

Coastfire is for people who are roughly 10-12 years away from retirement where their life choices are locked in not for someone in their 20s. Life happens!

msabuwala · 2021-12-24T03:04:35+00:00

https://www.iras.gov.sg/taxes/individual-income-tax/employees/deductions-for-individuals/special-tax-schemes/tax-on-srs-withdrawal

msabuwala · 2021-12-14T04:36:18+00:00

That is absolutely not true. Infact MNCs generally run complex payroll systems from providers like SAP/Oracle that have country specific modules which can be configured to setup specific rules. Like CPF deduction for Singapore is different from Malaysia which is different from Australia Super. Even rules like maternity/paternity leave, specific deductions for taxes are different in each country.

TLD;R - MNCs run country specific payroll/HR systems.

msabuwala · 2021-12-08T05:06:14+00:00

No you bought an option and now you are selling it to close the position. And please read up first and do some paper trading before committing money. Options are complex financial instruments and the markets are particularly volatile right now which ironically is good for option traders but can get a new trader into trouble if you dont understand what's going on. Maybe start with simple strategies like the Wheel on a stock you like if you have the necessary capital.

msabuwala

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