Reflections for year 2024

-
2024 has been a relatively peaceful year. So peaceful that I have read countless novels and other books, met my sports buddies almost every weekend and picked up horticulture.

Physical and mental health


As we say, health is wealth. I have stuck fairly consistently with my exercise regime and try to incorporate more fruits and vegetables in my meals (although I eat out more and cook less these days). My weight, BP and cholesterol levels are doing ok. For those 40 years and above, remember to get your subsidized health screenings from the government.

Working less and meeting up with friends more are contributors to my improved mental health. I see that the government has stepped up on initiatives in the community but work place initiatives from employers still seemed lackluster, especially for those who can't WFH and need to commit 44 hours or more a week at frontline work.

Financials


My SG portfolio has made a recovery except for the REITs (which took a hit in the high interest rate condition) and the China-related stocks (Lion-HST ETF and CapitaLand China Trust). 

My Endowus funds have also recovered and gave decent a return of double digits. The purpose of having this portfolio is to garner some DCA effect and exposure to the foreign markets with ample diversifications.

My US trading account was doing well until I dabbled with Tesla and blew off about 4k from it. I think my psychology is not suited for such highly volatile stock trades. I am still into options, they give fast returns. However, I need to fine-tune my strategies and be more vigilant on the macroeconomics that are influencing the price movements.

Fixed income wise I have almost turned over my entire SSB portfolio to take advantage of the higher interest rates and also farmed T-bills' high yields from last year. With uncertainty on the interest rates come next year, I am toning down on this. I have also bought some USD when it was low to put into the bank's fixed deposit account and have recently converted them back to SGD on maturity.

Cryptocurrency - after the massacre that happened just two years ago (recall nightmare of Celsius and FTX collapses), crypto has made a whooping come back with president Trump's election. I sold some of my BTC after the Yen carry-trade induced market flash-crash, as I was scared that the price recovery was a dead-cat-bounce. How wrong I was! Good thing that my Ledger cold storage remained untouched simply because I was too lazy. Last year I mentioned that I wrote off my late mother's Celsius asset. Lo and behold, this year I managed to make the claims using the Letters of Administration. You can find out more about how to get one for a deceased kin without hiring a lawyer in my previous post.

This year I have finally made the huge decision to purchase a flat. After numerous arduous months of house-searching, viewings and offerings, I finally bought a resale flat. The cost of it wiped out my entire CPF OA, more than half of my cash holding and bestowed me a 25-year mortgage. Nevertheless, I am giving myself a pat on the back and hope that 5 years later the property price will continue its inflation enough for me to sell at a profit.

I was reviewing my assessable income for year 2024 to see if I need to top up my SRS account (you can review it by logging in to your IRAS account and download the document from your inbox). I have already maxed my CPF retirement account top up of 8k. One question that I ponder is whether I can still claim the parent relief. To my relief, the answer is yes - I still can claim it even though my mum had passed away last year. The relief would cease from next year's assessment.


Other life musings

I managed to travel a bit this year to different parts of Malaysia. Tried snorkeling and water rafting for the first time. It's a great deal of fun. In budget travel, there's surely some discomfort or inconvenience (be it in accommodation or transport wise) but that doesn't make the trip less fulfilling. To me, the top priorities are safety and gaining new experiences. I might try another solo travel next year.

Some new gadgets that I bought to try out this year - air fryer, DC motor fan and movement-triggered lamp. Air fryer is basically like a more compact oven, I have yet to explore the possible recipes. My DC motor fan is really cool (pun intended) with 12 speeds, an all-angle rotatory head and super quiet operation. Movement-triggered light is good for wardrobe and corridor where we only need the light for a short duration.

For an MCA court order under the Mental Capacity Act, it is also possible to apply for one without hiring a lawyer. There's a simplified track and normal track. I managed to get one for a kin this year after two hearings via the normal track and saved a few thousand dollars of lawyer fees. Here's a quick reference guide.

That's all for now. I may update this post if there are more things that pop up to my mind. 
Hereby wishing everyone an advance Merry X'mas and happy 2025!

--

Thanks for reading!

Get $20 bill rebate with TUAS power when you sign up with my referral code "RCPKNX4".

Do check out my other referrals here for more sign up bonuses.

🤗

Comments

Post a Comment

Popular posts from this blog

The gold rush again

-
Image
I recently saw this video on CNA Money Mind channel https://www.channelnewsasia.com/watch/money-mind-2024-2025/going-gold-4299741 and thought I would summarize some learning points for those interested in gold investment. Photo by Zlaťáky.cz on Unsplash Gold is viewed as a safe haven asset in time of uncertainty, crisis or geopolitical risks. Demand for gold is influenced by Central bank purchases. The purchase premium of gold decreases in % with relationship to the gold bar's weight. Eg, a heavier gold bar has lower purchase premium over a lighter one. There's no GST for investment grade gold bars. Gold-backed ETF is backed by physical gold. Lower yield environment will benefit gold prices as the opportunity cost of holding gold lowers. Source: https://www.statista.com/statistics/673513/monthly-prices-for-gold-worldwide/ As seen from the chart, the last mega price spike was in year 2019 to 2020. This year we saw another mega spike. In order to circumvent any US withholding t
Read more

Shit happens and I lost my low-hanging fruits

-
My SAYE account has just hit its 25th month anniversary which is also the "month of maturity". Anticipating to get the 3.5% bonus interest for all these months of saving, I was shocked to see only $17+ cash gift credited as opposed to a few hundred dollars. I was about to send a message to query the bank what caused this interest plummet versus what I got in the 13th month when I came across a debit transaction in my account history (GASP!). To my oblivion and horror, I have accidentally selected my SAYE account to transfer $50 to a joint account to foot some bill in one of the months last year. Here's the terms and conditions for those who are not familiar with the SAYE account of POSB. "To receive the additional 3.5% p.a. Cash Gift Interest, ensure that you do not make any withdrawal from your POSB SAYE account." "If a withdrawal is made in the month, this will result in the previously accumulated additional 3.5% p.a. interest to be forfeited." Damn.
Read more

Letters of Administration / Probate - DIY application

-
Image
It's been almost 2 months since my mum's passing. I have not had the mood to blog as there's simply too much for me to settle - both tangible and intangible stuff.  For the first month, there's like a void in my life that I couldn't get used to because I was so used to the daily routine of taking care of her. It felt like a boulder lifted off my shoulder, as I was near breaking point; but this boulder was not gone, instead it shifted to my heart. The passing was sudden but not unexpected. My mum's condition deteriorated rapidly after her last fall, which led to hospitalization, and every hospitalization made her more frail. On the last discharge she could barely sit up in bed. My mum  did not leave behind a will  because she did not see a need to at that time when she still had a clear state of mind. Without a will, I would need to apply for the Grant of Letters of Administration (instead of a Grant of Probate ) in order to administer her Estates. (Note: If ther
Read more

Reflections for year 2023

-
Image
2023 is a year which I have relented to the inevitable dealing with adversities. Sending my mother in and out of hospital had become a norm. Being a healthcare professional, I thought I could handle it single-handedly well enough, not until the point when my mother ceased to be fit enough to attend dementia day care that I came to the conclusion that I needed a helper. However, things took a steep downhill turn before I could hired one (counted myself lucky that I did not commit to a hire). My mother passed away in June, it was a relief for me and probably a relief for her as well. However, life is not meant to be smooth-riding. My mother did not leave behind a will, thus I have to apply for the Letters of Administration with the Court and as my sibling has mental disability, this led to some complexities which have yet to be resolved. Instead of hiring a lawyer, I decided to apply the LOA and MCA orders by myself through the Service Bureau. I am paying my time and convenience for it
Read more

Weekend brain food IX

-
It's been a while since I have posted weekend brain food. I have been quite out of touch with investment theories and research as I was pretty caught up with work, sports and events.  This is an old draft... very old yes. My thoughts part is recent. Benjamin Graham vs. Jesse Livermore  - by A Wealth of Commonsense "In chapter 8, Graham introduces the story of Mr. Market as a way to illustrate the manic behavior of investors in the short-term. Chapter 20 covers the idea of margin of safety as a way to better understand risk management. Both chapters still hold up to this day despite the fact that the book was originally published in 1949." "You can still learn from legendary investors and traders. Market history can still help give you insights into potential risks. But markets change. Investors adapt. Rules are updated. Advantages slowly get arbitraged away . Strategies that outperformed in the past don’t work as well in the future once everyone knows about them. Th
Read more

Disclaimer:

The contents of this blog are author's personal opinions and do not constitute advice to hold, buy or sell any securities, commodities or assets mentioned. I do not guarantee the accuracy and reliability of any information provided, and shall not be liable for any losses incurred from reading my posts or using the materials herein. This blog may contain affiliate links to external sites.