Started on SRS

-
SRS, Supplementary Retirement Scheme. Opened an account earlier this month and finally got round to contributing into it today. By doing so I have effectively reduced my taxable income and legally evaded some tax for the assessment year but now it is important to take the next step and invest the amount contributed to SRS.

If I can grow the SRS amount by more than 5%, then it will not really matter even if I make premature withdrawals since the 5% penalty will be offset. But considering that SRS is meant for penalty withdrawals after 62 years old and I do not really plan to do premature withdrawals, I will be getting the amount investing into less volatile unit trusts with low sales charges and management fees. This will help bring some stability to my current portfolio of very aggressive holdings of pure equity unit trusts bought with cash (note though that these cash UTs have actually made quite good returns this year).

An even split of the free SRS funds invested into UOB United Global Emerging Markets Portfolio(GEMS) and Philip Growth Fund appears to be the best option available. Only time will tell if I have been able to pick the right winning combination to add on to my present portfolio.

Comments

Post a Comment

Popular posts from this blog

www.sold.sg, www.gleebid.com, www.simplybids.com.sg, www.crazybid.sg

-
Image
www.sold.sg, www.gleebid.com, www.simplybids.com.sg, www.crazybid.sg, www.sharkybids.com, etc are some "auction" sites that sprouted recently. At first glance, these auction sites appear to be offering tremendous deals to interested buyers through huge discounts. However, the caveat that when a deal sounds too good to be true be careful holds. To understand how www.sold.sg, www.gleebid.com, www.simplybids.com.sg, www.crazybid.sg, www.sharkybids.com and such works, it is important to understand the mechanics of their operations. I will use sold.sg as an example. Let us take one item that was recently sold on www.sold.sg to illustrate the financial calculations for a good deal purchased. The Canon IXUS 300 was sold at $52.35, a staggering 83% to the retail price of $599. Does this mean sold.sg made a big loss? From where was sold.sg able to source for such cheap products? It is important to note that bidding on items is not free. Each bid requires 1 token which is sold t
Read more

WHO Announces End of COVID19 Pandemic

-
Promising COVID19 vaccines! Lower numbers of new infections! COVID19 is now under control! COVID19 cure found! Headlines that we will love to see but reality is far less rosy.  COVID19 is a virus.  A strain of coronavirus not unlike past virus such as SARS in 2003, MERS in 2012. Years have passed and no vaccine, no cure has been found for SARS or MERS. The same is likely to happen for COVID19. The optimistic put hopes on the huge efforts to find a working vaccine but what if  the end state is that the virus is here to stay? The virus is selective. Many infected are just asymptomatic or with mild symptoms, carriers whom go on to keep the spread alive. These are usually the young/healthy ones with no underlying issues. The ones whom really suffer are the older/weaker. At the end, perhaps we need to come to terms that it will remain as commonplace as influenza. People will die if they do not take care of their health. Life expectancies will be lowered as weakened elderly fail to overcome
Read more

Singapore Presidential Election 2017

-
Will this election be a reserved one for the "Malay" community? While Dr Tan Cheng Bock's initial case for an "open" election has been dismissed, it is still up for appeal. Should the reserved election proceed, the likely Presidential candidates for 2017 so far are: Mr Salleh Marican (CEO, Second Chance Properties) Mr Farid Khan Kaim Khan (Chairman, Bourbon Offshore Asia Pacific) Mdm Halimah Yacob (Speaker of Parliament) Mr Salleh Marican He is of Indian heritage and lacks fluency in the Malay language. Additionally, calculations by The Straits Times puts Second Chance’s average shareholder equity over the past three years between $254.3 million and $263.25 million, missing the eligibility criteria of at least $500 million in shareholders’ equity, on average, for the most recent three financial years. Mr Farid Khan Kaim Khan The question will likely hinge on whether he is "Malay" enough to contest in the Reserved Presidential Elections
Read more