Worst things first: October Goals review
-
12 times exercise (
achieved: 12 times)
-
minimum 21 days without alcohol (
shamefully failed: 14)
-
see 2 interesting exhibitions (
failed: saw only 1)
Saving rate October
In October I saved
38.2% of my post tax income, lowering the year-to-date savings rate to
40.7%.
The good news is that I have already now saved nearly as much as in the whole year 2015. I have already surpassed my investment goal for 2016 and will most likely exceed my savings goal as well.
Portfolio update October
In October my portfolio increased by
2.8% or
SGD 4,434 to
SGD 162,970 (USD 117,150). This gain was made up of fresh investments of
SGD 3,816 and gains of
SGD 618.
Investments-vs-Plan
In October I invested
SGD 3,816. This was
SGD 816 more than planned. So far the year is going quite well!
I am definitely going for a new savings record this year, thanks to the small windfall I received in August.
As Brute had suggested earlier I am trying to diversify and have been buying the iShares EURO Dividend UCITS ETF. This gives me more diversification also in terms of currencies.
Currently my portfolio is too heavy on the HKD and things would go South immediately if the Hong Kong administration decided to abolish the tie to the USD. Switzerland has shown what can happen when central banks take this kind of decision, so diversification is the way to go for me.
The ETF is domiciled in Ireland and listed on the Euronext Amsterdam exchange, which is the best possible tax option for me. There are no withholding taxes on that exchange for Singaporean investors, so I can enjoy tax free dividends.
Dividends received
This was the highest dividend month for me so far. SGD 1,822 tax free dividends were credited to my account.
Hypothetical monthly income
Slowly but steadily improving. I will feel better once this finally surpasses the SGD 1,000 mark
Coast FI age
For fun I calculated the following: If I suddenly decided to stop investing, when would I be able to retire based on growth of current portfolio? Assumptions: 6% annual portfolio growth, 2% inflation.
Result: I can retire at age 86... For European males chances are slim to reach that age. So I better keep investing!
Outlook
I am well ahead of targets for the year, but am more determined than ever. Will continue saving full steam to escape the office earlier.
+++++++++++++++++++++++++++++++++++++++++
This is the end of this month's update.
Just rambling reflections on life below
+++++++++++++++++++++++++++++++++++++++++
Reflections about working
Advantages of my job
- SGD 140,000 (~USD 100k) salary
- Only SGD 10,500 tax per year
- Have been working in the same job 5 years and became very good at doing it with minimal effort
- Nice colleagues, no aggressiveness or douchebags
- Commute is 30 minutes including 10 minutes by bicycle and 10 minutes walking
- Part of talent program and get pampered by the company occasionally
- Free mobile phone
Disadvantages of my job
- European Company is over 100 years old and being overtaken by faster local competitors
- Day to day work is uninspiring and I spend at least 3-4 hours each day on the internet
- No higher purpose or exciting vision
- "Only" 21 days of paid holidays (much less than in Europe, but more than in the US I guess)
- No time to do real fun things like backpacking around for a few months
- Soul crushing boredom
Sometimes I realize that I am really lucky and am in fact quite well off. On other days I feel that I earn much less than my peers in other companies and that I have been in the same job 5 years. Oh well.
Singapore's economy is getting worse and worse. Changing a job is close to impossible. My bosses keep saying that my next job is around the corner, but I have given up. So I am stuck. I am not dreading to go to office on Monday mornings, it is pretty easy going. It does not stress me in the slightest and some people in the office even are close friends. With some I have even gone to private holidays before!
Reflections about the girlfriend
My girlfriend is a true minimalist at heart and prefers experiences to things. The other day I saw her rinsing a ziplock bag to reuse it, something I have to admit I am often too lazy to do. She is very successful at her career but never chose to participate in the high fashion, show-off arms race that most women in her industry in Singapore participate in. She also discourages me from drinking beer and motivates me to exercise instead. Conclusion: a keeper!
Confessions of my ERE sins
Once again I sinned quite a bit.
* Spent SGD 400 (USD 290) to fill stocks of food, beer and snacks at home since I will receive some family visitors in October. 1 small can of beer costs USD 2.2 here so it is quite the expense. Not even that great beer, just Asahi.
* Went to Ikea to replace some worn out things in my flat (SGD 70)
* Took the girlfriend to several nice dinners and once managed to spend USD 115 on a dinner for two. Definitely too much! I need to get back into cooking as it is healthier and very therapeutic
* Bought flight tickets for Chinese New Year (USD 450)
* Bought a fancy new Kindle for my girlfriend (USD 250)
November goals
* Get rid of all clothes in my flat that I do not wear anymore
* Try to reduce number of possessions further
* 21 days no alcohol
* 12 times exercize
* Finally get back into improving my Chinese
* Make use of my talent program perks at work to get a coach
* "declutter" the mind and come to terms with some old issues