Uncle8888 met his old ex colleague at Jurong Point Mall. He will be 62 this Nov and not sure whether company will offer him re-employment at 62 as the company is currently operating in cost saving mode.
Colleague: You good life can retire @ 60
CW8888: Good life? Not sure is good life. Just simpler life with less money.
(With no full time job, life is likely to be simpler without job related KPIs, some back-stabbing peers and some unavoidable office politics under Bell Curve performance appraisal system. When you are "push" down; automatically it will pull up somebody else)
U.S. stocks plunged more than 3 percent Friday to end in the red for the year so far after Britain surprised markets by voting to leave the European Union.
"It's a combination of at first positioning, plus the reality that this issue is not the most simple to address and something you don't have precedent for," said Lefteris Farmakis, a macro strategist at UBS.
The Dow Jones industrial average closed down 610 points — its eighth-largest point loss ever — with Goldman Sachs contributing the most to declines. On a percentage basis the Dow and S&P had their worst day since August 2015, while the Nasdaq composite's 4.1 percent decline was the index's worst since August 2011.
With Friday's drop, both the Dow and S&P erased their gains for the year so far. The Nasdaq composite was nearly 6 percent lower year-to-date.
Financials dropped 5.4 percent in their worst day since August 2011 to lead nine S&P 500 sectors lower.
Investors took a defensive stance with utilities eking out a gain as the only advancing S&P sector. Trade volume was the highest of the year so far, ahead of the Russell index rebalancing scheduled for after the close.
U.S. crude oil futures settled down $2.47, or 4.93 percent, at $47.64 a barrel.
Pound sterling fell more than 10 percent against the U.S. dollar between its high of $1.500 touched late Thursday to the overnight low of $1.3224, its lowest since 1985. Sterling was last near $1.366.
"The biggest thing is markets are operating and there isn't a liquidity crisis. This isn't a Lehman moment," said Chris Gaffney, president, EverBank World Markets.
"I think investors mispriced the risk and quickly repriced it," he said. "That's what we're seeing now, the repricing of risk with heightened uncertainty."
Our own personal encounter and experience will count the most for our next decision making and we should give less weightage on others' advices or opinions especially in the cyber world which has full of opinions of kind intentions ! These are kind intentions!
Kind not necessary means it is good for us! Get it?
Late FIL: His three sons decided NOT to let him go and let the doctor revived him and then placed him in nursing home for after care. He lasted his extended life for another 18 months as bedridden patient with feeding tube, urine bag and oxygen mask.
As dementia patient, were his sons sure that this was the way he has wanted to extend his life by staring at the ceiling from his bed while waiting for visitors that he "didn't" know who are they except his eldest son!
Late MIL: She had a bad fall and knocked against his head. Fractured skull with blood clotting in her brain and needed immediate head surgery to extend her life and it would be brain stroke. Her sons learnt the lesson and let her go and within few hours she passed away. The difference was that she didn't need to spend her extended life as stroke patient in a nursing home at age of 90.
After financial independence, Uncle8888 will live well to pursue life independence and have courage to let it go at peace and no worry over high medical costs to extend that few more months or years of poorer quality of life.
Actually, Uncle8888 is watching this junior than CW8888 newbie investor closely on his investment progress after he has attended some 15% return investment training course. So far; his progress is disappointing.
Can long-term investing over decades of market cycles be taught like Turtle Trading?
It is something like buying life insurances from friends or relatives; by the time we need them to settle our insurance policies; they may move on.
Same as these investment course trainers. Our investment result can only be proven after at least one decade. By that time; the investment course trainers like insurance agents may have move on and we are left on our own to suck fingers!
Under this programme, NSFs will get an interest rate of 2 per cent per annum on their monthly contribution to the savings account for the entire duration of their full-time National Service period.
Under this programme, NSFs will get an interest rate of 2 per cent per annum on their monthly contribution to the savings account for the entire duration of their full-time National Service period, up to 24 months. Regular savings accounts currently only attract 0.05 per cent interest.
A stipulated amount between S$50 and S$3,000 will be deducted from a separate POSB/DSB account where national service allowances have been credited.
Ah Boi can save 100% of NSF allowance to earn the additional 2%; but borrow some allowances from Bank of Papa or Bank of Mama at interest-free rate.
No loving parents who can afford this loan will charge their son interests.
Thank to Raymond Ng for sending the link to Koon's investment lessons. Good thing must share with others. Solid 30 years of experience in the market!
Lesson #1: How I Began
As I am 83 years old, I have more than 30 years of
experience in buying and selling of public listed shares. In the process, I
have learned from my mistakes and now I have accumulated a lot of knowledge
which I wish to share with you before I die.
I will have to write a few lessons to cover all I know. This
is the first one.
Quote : " How to Own ‘Zero-Capital’ Stocks Of course, not all stocks can actually appreciate four times its original value. That said, in the event that a stock’s price double, I would not recommend selling half of the stock holding, as the remaining stock might be too little. We should not be holding insufficient amounts of quality stocks that we may come by, so I will impart a different method to make the stocks ‘free’. Investors can deduct dividend payouts from their initial costs, and also deduct bonus shares from the amount. Over a sufficient period of time, the stocks may actually become zero-capital stocks or even ‘negative-capital stocks’ when the amounts deducted exceed the initial investment, which means that the investor will be in a profitable position no matter what happens next.
The above method by Dr Chan is not too different from Uncle8888's way of accumulating his pillow stocks. But, Uncle8888's method may be faster way to accumulate more pillow stocks by seizing those opportunities in short-term trading across market cycle by stuffing more feathers to build pillow stocks.
Total Realized Gains = Net P/L of many rounds of the same stock + Accumulated dividends of the same stock
(1) Collect 1.5% more interests from Government by top up CPF SA from CPF OA.
(2) Get your employer to contribute more by focusing on your job through promotion, higher salary, and higher bonuses. Your employer's contribution to your CPF SA can help you to grow at faster rate than 1.5% from the Government and depending on your age group; your employer is helping you to top up your CPF SA from 2.8% to 3.7% for every dollar you earned from your job.
Too bad that Uncle8888 only started tracking his CPF SA starting from 2003; otherwise his data set will be more convincing. With only one top from CPF OA to CPF SA; his CPF SA has managed to achieve CAGR @ 7.6% from 2003 to 2010 in eight years.
How is this possible without any further top from CPF OA to CPF SA?
Do we forget that we have annual salary increment and every few years salary adjustment to market practice?
Some years we have larger bonuses and some years lesser.
We also have promotions that will lead to higher salary, higher annual increment, and higher bonuses.
All these higher and higher high will eventually add up.
In this way, our CPF SA will be compounding at more than 4% p.a!
If we are REALLY so scare of not meeting our CPF minimum; then the right and more effective way is to improve ourselves for career advancement so that we will have higher and higher CPF SA contributions over the years till 55.
CPF SA should be able to meet the minimum sum. Right?
You may have read it somewhere in the cyber world from some investment course trainers that by following certain Buffet-Like investing method or Buffet-Twisted investing method; you can LOOK forward to achieve 15% CAGR.
Like that. Why are these investment course trainers choose to earn one time course fee when they can join the fund management industries to earn year after year annual fund management fee and annual performance fee?
How to avoid setting "silly" investing goals and let Grasshoppers laugh at you.
Benchmark your investing goals against this table where the world's well known investing Masters have performed,
Uncle8888 was NOT born as Ant. It was the circumstance and personal encountered with the reality of life that has transformed him into an Ant who looked far ahead of his time and get ready for the reality of life.
No dancing in the Sun!
Long and harsh Winter may come sooner than expected.
Don't envy the Grasshoppers!
Grasshoppers can suffer alone and die alone; but Ants as community cannot drag other innocent members down just because he wants to sing song and merry go round!
The reality of life when AFC 1997/1998 taught his generation the biggest lesson in life and transformation to Ants. Looking around at those folks in his generation, many are Ants!
One Chinese saying: When we don't see coffin with our own eyes; we don't drop our tears!
This Uncle8888's colleague has been thinking that he has large investment portfolio which is generating investment income to replace his annual earned income.
He was mistaken!
To retire comfortably; it may not be necessary to fully replace our loss of earned income. It may not be easy for average income earners with family commitment to accumulate such a large investment portfolio to generate that level of investment income to fully replace our loss of earned income during retirement phase. Not easy!
Uncle8888 explained that he can retire because his Three Taps Solution is able to generate sustainable retirement income for life to cover his projected household expenses with 2.5% yearly inflationary effect till 2038.
Once Uncle8888 showed him these charts and explained a bit.
I am 61 yrs old uncle living in HDB heartland who has achieved financial independence @ 56 and retired @ 60 from full-time job as employee.
Single household income since 1995 with three children. Eldest son and daughter are now working and youngest son still in his 2nd year uni in SUTD.
I have been doing long-term investing and short-term trading in Singapore stock market only since Jan 2000 so I am that Panda or Koala in the investment world; but I am still surviving well in the wild.
I am now executing my Three Taps solution model to maintain sustainable retirement income for life till 2038.
Last updated: 3 Sep 2017
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