Best Value Telco Plan for 300mins Talktime and 5GB Data

Halp! I have stopped blogging altogether but recently there's this tiny-weeny issue bugging me so I've decided to pen my thoughts down to have some clarity.

Soooooo my phone (iPhone 7) is dying and being the hippie that I am, I have decided to contribute to Apple revenue this year with the purchase of an iPhone XR.

So there I was in a dilemma; as I wasn't really sure if I should continue with a plan bundled with the iPhone XR, or move on with the current trend of getting a SIM-only plan and get the iPhone XR off the shelf.

So basically, I have only 2nos. of pre-requisite:
1. Minimum of 300mins talk-time
2. Minimum of 4GB Data

And with that, let's get down to the nitty-gritty comparison:

Contract Plan Bundled with iPhone XR

	Cost of 2-Year Mobile Plan	Cost of iPhone XR 128GB	Total Cost over 2 Years
StarHub $75 Plan  (300mins, 30GB)	$1800.00	$299.00	$2099.00
M1 mySIM 40 Plan (300mins, 5GB)	$1208.40	$815.00	$2023.40
Singtel Easy Mobile L Plan (300mins, 4.75GB)	$1560.00	$572.00	$2132.00

SIM-Only Plan

	Cost of 2-Year Mobile Plan	Cost of iPhone XR 128GB	Total Cost over 2 Years
My Republic Smart 35 Plan  (1000mins, 9GB)	$840.00	$1300.00	$2,140.00
Singtel SIM Only 5GB Plan (350mins, 5GB)	$744.00	$1300.00	$2044.00
M1 mySIM 20 Plan (300mins, 15GB)	$736.80	$1300.00	$2036.80

Eventually, I've narrowed my choice down to the Singtel SIM Only 5GB Plan due to the following factors:

- Monthly subscription cost of $31 is really low compared to the current $80+ that I'm currently paying;

- As the total cost difference between the comparison above is really quite negligible, I've decided to continue with Singtel as there are no hassle faced when changing telco, i.e. no added charges for changing telco or downtime faced when porting.

DONE!

Thoughts have been cleared and see you again in another year! LOL

P.S Shucks, I'm really bad with consistency as you can see from the frequency of my post.

Going MIA

Hey guys! Sorry for being missing in action for so long.

Have been preoccupied with exams preparation and work.

Having my last 2 papers this week and if I pass.. horray! I'll get my degree at long last :D

I promise I'll be back once my exams are dealt with. Cya~

Goals Review and Setting - 2016

As 2015 draws to an end, it is time to review the goals I made for 2015. 

There are some hits and misses with the goals I set. Nonetheless, I am still glad that I have put down my goals in writing as I can see some improvement in my life compared to the period when I was goal-less.

Anyhow, here's my goal review for 2015!

1) Increase Monthly Dividends Income to $150

My monthly dividends income at the end of Dec'15 hits a grand total of only $100.58. Quite some way off from my target of $150.

I'm not giving excuses, but it's probably because I partially divested from one high-yielding counter earlier in Feb'15, and I sat on my cash pile for the majority of the year without making my monies work for me.

Gotta make my monies work harder for me for 2016!

2) Get Through My Studies Without Failing  

I passed all the modules I took! By a comfortable margin to boot! However, still some ways to go from acing my modules and results can be better if I put in more effort.
 

3) Posting At Least Two Blog Post

I have posted a total of 21 blogpost this year, which is still 3 posts away from my target for this year.

Nevertheless, we can all see how goal setting is helping me as the total blogposts I put out for 2015 far exceeds the numbers I put out for the previous three years combined.

4) Make New Friends With Two People Having Interest In Financial Literacy

Nil. Zilch. Nada. 

I have made no new friends with similar interest in financial literacy. Despite repeatably reminding myself to be more outspoken online, I failed to take the initiatives to mingle more with people who are financially literate.

Whats more, I kinda like being myself and not molding myself into a different persona just so that I can make friends online. If a genuine friendship occurs, great! awesome!

Otherwise, then too bad. I guess I'll just be a silent stalker and glean some wisdom off the blogs of financially wise individuals then.

  

5) Career Advancement In My Regular Job

Well, I did not get promoted. After all, how could I still be promoted after the conversation I had with my previous boss? 

Did I just say previous boss? 

Yupp I certainly did! 

After getting my increment and bonus from my previous job, I made the decision to change job, with an increment of about 7.5% to boot!

Okay. While the increment was not much, I just felt great leaving an organization where I do not feel valued and was not given much opportunity to grow. 

And it gives (yes, gives, not gave, cause it's still giving me:p) me immerse pleasure when I told my non-appreciative boss that I'm giving him the boot!

With 2015 gone, we should look forward to 2016 with renewed optimism. After all, we are one year older and one year wiser. With the lessons learned, 2016 should be a more rewarding year for us! 

For 2016, I have set the following goals:

1) Increase Monthly Dividends Income to $200  

This is one my main goal and I hope that eventually, the dividends that I obtain will be able to fully cover my living expenses.

At $200 a month, my current portfolio will have to yield about 5.21%. Which is quite achievable provided that I sought out income yielding equities during early 2016, and not leave it till late like what I did for 2015.

2) Graduate and Score 2 A's for My Last Two Modules  

I am two modules away from graduating and I want to give it my best shot, hopefully graduating with at least a 2nd Lower Class Honours.

3) Posting A Blogpost Every Week

Well... if my 2015 goal of two blogpost a month yielded me 21 blogpost, imagine how many more blogpost I can produce if I set myself a target of posting weekly!

“Shoot for the moon. Even if you miss, you'll land among the stars.”

― Norman Vincent Peale

4) Increase View Count to 10,000 

Okay.. a very ambitious goal I admit. But hey, I did not pluck out this figure from thin air!

To have a good shot of hitting 10,000 views, I will have to acquire skills in Search Engine Optimization (SEO) and online marketing, which are very practical skills to possess in our current new age economy anyway.

I think.

 

5) Remain in my Current Job Unless Elsewhere Offers Increment of 25%

Hmm. This is not really a goal but more of a reminder to myself.

I have been changing jobs ever so frequently, with most job stints lasting less than a year. This does not look very good on my resume and additionally, I have remained in the same position, with no additional job responsibilities,  despite my multiple job hops.

Which means that I'm basically hopping on the same stones again and again. Pointless.

Hence, I endeavor to remain in my current job for at least 2 years, unless another positions offers an increment of at least 25% over my current package.

I have come to the end of my goal review and setting friends. Hope that everyone has achieved what you endeavor for this year, and wishing everyone success for 2016!

Happy New Year!And enjoy the upcoming long weekend!

Damn, I am going to miss this long holiday :( Don't you?


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Photo taken during Christmas period at Garden by the Bay, Singapore. My country can be so mystically beautiful too!

My First Million

No no no no no. I have not struck the jackpot.

I was just wondering how long it will take for me to earn my first million given my current rate of saving. 

I'm not day-dreaming by the way. Having my first million is not a dream. It is my goal. Albeit a longggggg-term goal.

Afterall, it's always good to have a long-term goal in mind right? And who doesn't wants to be a millionaire!

Counting money all day long~~

Hence I decided to run the figures just to see just how long it will take me and what can be done to propel me towards being a millionaire earlier!

First, let's have a look at my current financial standing to determine when I'll be a millionaire:

Age: 27 years old

Current Assets: $45,715.53

Current Monthly Saving: $600

Estimated Annual Return on Investment (ROI): 5% (Quite achievable I believe, since my main holdings, STI ETF and VWRD, are giving returns of 7.21% and 13.87% on an annualised basis respectively)

So with the above parameters, I ran the figures, starting from when I'm 28 years old. Any gains I made during this period will be poured back to be compounded.

And here we go~~

 

Uh oh. Doesn't look too good. I initially thought that I'll be able to hit a million when I'm 50 years old. But it seems that I'll only be a millionaire when I'm 64 years old! Noooooo~

Time to revise my rate of savings then.

In my earlier estimation, I adopt a constant rate of saving, putting aside $7200 on a yearly basis. However, in reality, my rate of saving and salary will fluctuate accordingly to the different stages of life I will be going through; single, married, being a dad, being made obsolete at work, etc.

Hence,  I tried my best to picture which stages of life I will be at, as the years goes by, and calculate my estimated rate of saving accordingly.

And so, here we go again~~

28years old to 30years old: 

The rate of saving will be low as the bulk of my salary will go towards the clearing of an estimated $50,000 renovation loan when my house is ready next year.

31years old to 37years old:

My salary will have increase during this period and I will be able to save more if I am a SINGLE. But I am planning to start a family during this period and household expenses are expected to rise correspondingly.

38years old to 48years old:

I expect my salary income to peak when I am about 40 years old. Thereafter, due to my increasing age, I might face a 5% reduction in my salary on an annual basis. Hence, my rate of saving will decrease once I hit 41 years old. 

Additionally, my rate of saving will also be reduce when my kid/kids enter school. This is after witnessing how all the children are getting more materialistic nowadays, especially when they meet their peers in school. 

For those with kids, is this not true? :(

49years old to 52years old:

Yay!

My kids will have gotten pretty old by now and I am going to make them work for their own upkeep and any materialistic wants they have! I am serious.

After all, I did the same thing too when I was 19 years old.

And with this burden of providing for my children gone, I believe I will be able to increase my rate of saving.

53years old to 60years old:

I will be old. And again, my salary income will probably be cut by 5% annually as my company finds me more and more of a liability:(

But hey! Guess what? 

If I continue to stick to my plan of investing wisely and systematically, I will finally be a millionaire at 60years old! 

Old but rich :D

So there's that. With sufficient patience and perseverance, coupled with some sacrifices along the way, I would think that any young adult who is not born with a silver spoon has a pretty good shot at being a millionaire eventually.


*******
By the way, recently, I started to get into the hobby of iPhonegraphy, which is the taking of photos using the default iPhone camera.

Dear readers, if there are any readers at all:p

Please let me have your honest view on each photos that I post at the end of each blogpost, starting from today. Are they good? What could be further improve, etc.

Much thanks!

Growing old. Both buildings and man.

Taking the Easy Way Out

The past few days has set me thinking about why I ended where I am now; A below-average salaried worker struggling to achieve financial independence.

I became extremely demoralised after realising that most of my peers (especially my fiancee!) are earning at least 30% more than me. I got even more despondent when I read about how bloggers around my age have amassed much more wealth than me!

Thoughts just ran wild in my head as I pondered about why I am earning significantly less. Finally, I realised why.

"Life had offered me choices and I always took the easy way out.".

All my life, I have been taking the easy way out and not the path that rewards me the most. I was always being plain lazy and have set low standards for myself. When life posed challenges, I aim to achieve the minimum requirements as I wanted to put in as little effort as possible. Eventually, I just failed to challenge myself in life and have fallen into a life of mediocrity!   

Education

Well, let me starts from my primary education. In primary school, I was consistently one of the top performers in class all thanks to my mother. She had a very effective way of teaching me and getting me to do my homework via the CSB method (Caning, Shouting, Beating).

Hence, it was no surprise that I was a top student because I was putting in the effort!

Slowly, my mother grew weary of teaching me (the nightly shouting and caning sessions can be exhausting). Moreover, she was not highly educated and she did not have the capability to guide me in my studies once I progressed beyond Primary 4.

Without her watching over my studies, I started to slack and I was no longer submitting my homework on a regular basis. Within 1 year, I have fallen behind in class and was no longer a top student.

During PSLE, I was even watching TV programs the whole day before my exams. Luckily, I managed to obtain a rather respectable PSLE result and life presented me with my first major choice!

Do I choose to go to a top school further away, without my close friends and where standards will be higher? Or do I choose a neighborhood school closer to home where most of my close friends will also be entering?

I could have choose the top school instead which might have presented me with a tougher but more rewarding journey in life.

Instead, I chose the neighborhood school as I could sleep more without all the travelling. How immature. The easy way out.

In secondary school, I had total freedom from my mother and a free rein over my own studies! I became even lazier and was consistently the weaker students in class. All I wanted was to get promoted to the next level every single year. Hence, I studied just enough to pass my exams every time.

When it comes to my education after "O" level, I took the easy way out again. I decided to select a polytechnic education as I heard that it'll be more fun. I could have study harder and scored well enough to take the JC-University route. However, since I choose the easier polytechnic route, I studied just enough during my "O" levels to scrape through and enter the polytechnic.

During my polytechnic education, I scored extremely well during my 1st semester despite aiming to pass my exams only. I could have still enter the university if I manage to maintain the standard.

However, I took the easy way out once again.

I decided to put in less effort in my studies since it seems easy to score well.

And that is how I ended up where I am now. Aged 27 years old, armed with just a diploma with sub-par results, and struggling in my part-time studies to earn my degree.

And I am certainly aware that what I am doing is only just sufficient to catch up with some of my peers who have put in the necessary hard work in their education, and hence, earning at least 30% more than me now.

Even if I have completed my part time education, I will still be earning less compared to some of them who have degrees from the more reputable schools.

Education is indeed important. A tad too late for me to realise it:(

Career

Beside my education, I took the easy way out in my career too. 

During one of my previous job stint, I was rather looked upon favourable by my boss. Moreover, I was learning a great deal in my work. While promotion was not a certainty, a career there does look promising. However, I found the workload heavy. 

When I was "promised" an opportunity to earn more in a sales related position, with an increase of a measly $130, I jumped at the opportunity. 

Fast forward 2 years later, and I have returned to my former job. To my great disappointment, I realise that my former colleagues from 2 years ago have progress well in this company, while I am back to square one. 

The irony. And they say job hopping is a good career move. 

I guess all these events are part of life. However, I resolve never to let mediocrity ruin my life any more further.

Step one: I shall strive to complete my part-time degree as soon as possible, with respectable grades. 

Step two: Continue to give my best in my current job, and not quit unless the other position offer at least 25% more.

Step three: Continue to put away at least $600 and all my bonus for my investment portfolio. 

Step four: Start up a new project to start a new business (some sorta delivery/transportation business)

NEVER EVER LET MEDIOCRITY EXIST IN YOUR LIFE. Set high standards for yourself or you will live to regret.
 

3 Years in Review (2012 to 2014) and Goals Setting for 2015

Hi fellow Peons! It has been a long while since I last blogged hasn't it? :p

3 years to be exact. Much have happened in these 3 years by the way. I had three job changes, proposed to my partner, gotten my BTO flat, etc.

Can't wait for it to be ready by 2017:D

All these events are significant chapters of my life and some of these events have offered painful life lessons due to my naivety. Hopefully, I will have the time to blog about these events retrospectively in the near future while my memories are fresh.

Coming back to the topic, let's firstly start off with the review of my goals as of December 2014.

In 2012, I stated that my goals were as follows: 

1. Sorting out my insurance coverage.
2. Increase monthly dividend payout to $50.
3. Achieve honors grades for my part time studies.
4. Gain significant in-depth knowledge on Fundamental Analysis. 

Three years later, as we reach the end of 2014, my progresses are as follows: 

1) Sorted out my insurance coverage in February 2012. Explained in detailed HERE. 

2) My monthly dividend payout has hit $101.87 as of end 2014. Not very commendable if you ask me. Even though I managed to exceed my initial target of $50 monthly, it has taken me three years to hit this amount. That is a less than 38% increase annually! Hardly sufficient to be considered a "passive income", much less feed a peon like me!

3) Two words to describe. EPIC FAIL. I failed two of the modules and was caught for plagiarism for one of my assignments. Received a warning letter from the school to boot. So much for aiming to achieve honors for my degree =_=". Guess this is an inherent characteristic of mine, always being uninterested in school. With such set-backs, I will never be able to achieve my goal of getting honors grading for my current course.

4) This goal can neither be quantified nor measured. I am sure I have gained some considerable investment knowledge this past three years. What I cannot be sure of, is that this knowledge can be considered significant enough. This is lousy goal setting and I will revised it for the upcoming goals setting for 2015.

Now that the review of my 2012 goals completed, lets move on to my goals for 2015.

GOALS for 2015

• Increase monthly dividends income to $150 (50% increases from $101.87).  

• Get through my remaining semesters of my studies without further failures.  

• Posting at least two entries on this blog per month, of which one blog posting must be on issues relating to financial literacy or research.

• Get to know at least two other people with similar interest in financial literacy.

• Career advancement in my regular job (gets promoted to the next level).

With this, I have completed my goals setting and review. 

I fervently hope I will be able to achieve these goals and will do my utmost to achieve them. I have faced several setbacks these past few years, such as my family situation as well as my career instability, which have made my life extremely patchy. However, I have also encountered uplifting moments too, such as my successful proposal and my mum recovery from 3rd stage cancer.

I guess what they say about life is true, full of ups and downs moment. Looking forward to more 'ups' moments anyway. Who doesn't:p

In a couple of months, it will be the start of a new year and I will be 27 years old. Hence, I wish for a very successful and enriching year for all of us in the new year! 

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Picture of Mt Fuji taken during my Japan trip in 2013. Did a solo (80% of the time) tour of the country. Have to admit that it was an extremely emboldening experience in a lovely country rich in culture. Can't wait to travel there again. I will highly encourage everyone to make a trip to Japan once in their lifetime. No regrets (cross my heart)!

Happy Lunar New Year

Recent events had taken huge chunks of morale away from me resulting in the above sombre greeting.

Please allow me to rant.

Just a week ago, my dad was admitted to the hospital for severe infection due to him being in the terminal stage of cancer. The doctors didn't have much hope of him making it pass Chinese New Year. Thankfully, not only did he manage to fight off the infection, he even made a remarkable recovery in order to be granted a short and sweet 6 hrs discharge from the hospital.

Just in time for reunion dinner.

Although I tried to be cheerful during dinner, the fact that this is going to be the last reunion dinner with my dad did not elude me. The thought of having the last few meals with a love one have never ever crossed my mind till today and I never knew it would feel so excruciatingly painful.

Prior to my dad diagnosis with cancer, my family had another episode with cancer. That was my mum then and when it was discovered, she was already in the 3rd stage. Miraculously, she survived even though the doctors did not pin much hope.These two close encounters with death have made me realise the fragility of life and thus, set me thinking about how I would like my life to pan out.

Do I want to live a life so frugal and deprive of material comfort that I will regret when I pass on?

No, I do not want to... I will aim for a healthy balance while showering love on my love ones, specifically my mum.Therefore, while my wish of having sufficient passive income will still proceed on, I hope it will never be at the expenses of my family.

I know this sound cliche but still, do cherish your love ones guys, for life is indeed unpredictable.