Today, I welcome a new reader who subscribed to my website. Thank you very much for your interest and confidence! Today also feels like a good time to do a blog after having MIA for a few weeks. Thinking back, for those weeks, life had revolved about meeting the strenuous demands and tight datelines from work, doing some overseas business trips and taking care of my kids at night and ensuring that they did their revisions for their exams especially when my wife was overseas. And by a blink of an eye, we are now only 3 weeks away from the end of 2017. Time really flies.
I always like December. Besides the joyous festive moods, get-together of friends and the family vacations, I love to see my bank account swelled suddenly with the annual “bonus”. Like other civil servants, I receive a 2 months bonus that I am very grateful for. But it is all gone now, yes all gone !!!
I thought you may be interested to know how I was actually able to “spend” every dollar of it within a few days.
Here’s how I did it .,.
Firstly, I topped up my SRS to the maximum contribution for the obvious reason. I have been making monthly contributions, and just waiting for my year end bonus to bring it to the max.
Secondly, I contributed $7000 cash to my parents’ retirement accounts. In this way, they get to enjoy high interest rate of 4% while I can reduce my taxable income.
Thirdly, I contributed $1000 cash each to my kids’ Special Accounts. This is the first year I am doing this after learning this from a fellow blogger a few months ago. I am hoping to use the compounding effect of interest (4% currently) over time for it to grow to something meaningful for them in the future.
Fourthly, through POSB Invest, they executed my monthly purchase of ABF Singapore Bond Index Fund and Nikko AM STI ETF automatically.
Fifthly, I continued my monthly purchase of Singapore Saving Bonds.
Sixthly, I made a small refund to CPF for the property loan taken from my OA. It is not significant but I guessed every small bit helps in the long run. At least, i try to earn more of the 2.5% from the government rather than having to contribute it myself.
Seventhly, I contributed a few hundreds dollars to my parent-in-laws to supplement their daily expenses.
Last but not least, … haha … I don’t think there is any left actually but if there is, I would have spent it in our family vacation next week.
So, folks, that’s how my bonus vanished in just a few days. Sometimes, I feel I was mean to myself as I have left nothing to indulge myself after a year of hard work and stress.
Look like I will have to wait another year (or when I strike 4D or Toto) to buy that seductive Apple Watch 3 or a Iphone X that look so inviting from those beautiful advertisements and irresistible up close in the Apple Shop.
So how do you spend your bonus? Happy to hear from you.