Monday, December 20, 2021

Done for 2021 CPF Retirement Sum Topping-up (RSTU). How about you?


For Year 2021, I topped up $1000 to my SA account + $2000 to my MA account.
As a result, I had achieved BHS of $63,000 in my MA account in 2021 at age 34.

Given BHS is achieved, the next level will be to achieve FRS in my SA account. 
Hopefully, I am able to achieve FRS in 2022, else latest by 2023 with the help of monthly contribution supposedly to MA will now flow to SA.

In total for myself, I had transferred $72,000 from my CPF OA to SA since 2017 (Link) + $5,000 from Cash to CPF SA + $2,000 from Cash to CPF MA.

As for my wife, she topped up $7000 to her SA account this year.

Related post:

Monday, December 13, 2021

Performance appraisal of my 2021 portfolio

 My KPI for 2021 is to achieve minimally $15,000 of dividends (Link).

Actual amount for 2021: $9,654.95

2020 was the best year for me (SURPRISE despite COVID outbreak globally) where I collected $12k+ of dividends & achieved new milestone of $300,000 stock portfolio

Note: In case you are wondering why my 2021 dividend target amount is double of 2020, I mention the below in last year Performance appraisal post:
"Since my portfolio had crossed $300,000, I should revised my yearly dividend KPI.
5% dividend per year seem to be a good & fair %.

For my 2021 KPI, it will be change from $7985 (Target amount set in 2016) to $15,000." 

2021 was the worst year for me so far due to "Lesson learnt on paper loss SGD100k++ in US stock market".

To be honest, the KPI for 2022 and 2023 to achieve minimally $16,000 and $17,000 of dividends respectively likely to be impossible due to the effect of more than SGD100k++ paper loss unless my Tiger Brokers share price recovered back to my buy price.

Related post: 

1) Performance appraisal of my 2020 portfolio

2) 34 financial tips for my 34th Birthday

3) New milestone - $300,000 portfolio

4) Performance appraisal of my 2019 portfolio

5) Performance appraisal of my 2017 portfolio

Wednesday, December 8, 2021

You have less than 24 days to lock in 62yo as your withdrawal age for SRS account

If you want to be able to withdraw your money from your SRS account at 62 years old, you must make your first contribution to your SRS account latest by 31 Dec 2021.

What is SRS account?

The Supplementary Retirement Scheme (SRS) is a voluntary scheme to encourage individuals to save for retirement, over and above their CPF savings. Contributions to SRS are eligible for tax relief. Investment returns are tax-free before withdrawal and only 50% of the withdrawals from SRS are taxable at retirement.

What happen if I open SRS account AFTER 1 Jan 2022 onward?

SRS account follow the statutory age of retirement at the point of your first contribution to your SRS account.

The statutory age of retirement in 2021 is 62 years old

The statutory age of retirement in 2022 is 63 years old

The statutory age of retirement by 2030 is 65 years old

This was announced in National Rally 2019 (Link)

How much is needed?


How much time is needed to open SRS account?

Less than 2 mins for me via POSB ibanking.

You can open your SRS account with DBS/POSB, UOB or OCBC

Step 1: Login to your POSB ibanking

Step 2: Click on "Apply" -> "Supplementary Retirement Scheme (SRS)"

Step 3: Click "Instant Apply"

Step 4: Select from the dropdown list for "Reference Account for Signature" and "Debiting Account"
             Ensure your "Contribution Amount" is minimally S$1 in order to lock your retirement age.
            Click "I Acknowledge................" in My Details
            Click Next button

Step 5: Click Submit once you verified your information in "2. Verify Details"

Step 6: Congratulation. Your SRS Account has been opened

Related post:

1) CPF MRSS: dollar for dollar matching up till $3,000

2) Done for 2020 CPF Retirement Sum Topping-up (RSTU). How about you?

Monday, December 6, 2021

HongKongLand: Invested more than USD100k into this stock (Part 6)


Recap on background

HKL announced share buyback programme on 06 Sep 2021 (Link).

HKL planned to invest up to USD500M till 31 Dec 2022 and shares purchased under in this programme will be cancelled.

HKL share price was USD4.20 on 06 Sep before the announcement was made.

How many % of the USD500M used to date?

Just 34% only

Note: You can refer back to my old post for share buyback before 3 Nov.

52w high is at USD5.80 (19 Nov)
HKL highest share price paid is USD5.765 (17 Nov)
HKL largest single day buyback amount is USD22,605,498 (28 Oct)
HKL 2nd largest single day buyback amount is USD17,133,850 (23 Nov)

Unfortunately due to the new Omicron variant on 26 Nov (link), there is a selloff in the stock market.
HKL is not spare from this sell off too.
The share price of HKL derail and dropped to USD5.56 at the 30% milestone on 29 Nov.