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students to 10 students per class so he is able to learn more with a smaller class size well you pay for what you get no regrets as i can see his improvements in just 2 lessons and most importantly he enjoyed the new class more than the previous one as more attention was given to him 4yo the youngest in our family will be heading to k1 next year but without her brother this time round for her class promotion she is no longer a baby but always is in our heart but a 1m tall preschooler and apparently she grew taller and heavier during circuit breaker cb she also gave up her milk bottle together with her elder bro i am pretty proud of her as i did not expect her to give up just like that as she is only 3 years old at that point of time i made the two of them throw away their milk bottles personally into the dustbin very cruel i know so they will know this time is for real and no turning back so far so good we managed to save quite alot of milk bottles and teats she is no longer on diapers during daytime except for taking nap and night time more savings in diaper expenses again this is quite an achievement as she did wet herself once or twice a week during school days since the school restarts in jun post cb next step is to try to wean her off diapers totally i guessed this will take longer time and we don t want to stress her too much bought a balancing bike for her to try and i have to say she s not as interested in cycling and scooting like his elder brother she prefer singing and dancing instead well that s why people always says every kid is different now i believed it she has been attending her weekly dance class at home via zoom and although she is adapting well the feeling is so much different from dancing in a group in a proper dance studio she is finally heading back to the studio at the end of aug super looking forward i think she will enjoy herself more in a class setting family expenditure overall family expenditure had gone down but not by a lot like everyone thought so we managed to save on commuting expenses like our car petrol erp and office carpark as well as those daily food court lunches which average 5 7 a meal minimum but spending more time at home also means more snacking and this became part of our grocery list when we make our weekly visit to sheng siong supermarket we also drank more beer and wine as we are pretty bored at home at night as we try to stay away from the crowd outside to prevent any potential virus infections we have been cutting down alcohol since start of aug casual drinking is totally fine but not daily having daily home cook food by the helper was great even if its just very simple dishes i enjoyed it a lot more than what i had in restaurants i also learnt how to make traditional singapore coffee using coffee powder grind from beans and kopi socks it is definitely much cheaper than what we bought outside and fresher as well as me and my wife have coffee every morning as part of our breakfast personal masters of business administration mba i am half way to the completion of my mba likely to be by mar apr 2021 all physical exams has been moved to online this is something i am adapting to open book is always relatively difficult than close book exam but unfortunately i too have to adapt grinding on and hopefully i will clear all my modules when my son start his primary one in 2021 so i can refocus back to my family commitment my weight fortunately did not balloon like some of my friends it was fluctuating between 1 2kg during covid 19 so i think having more home cook food is definitely healthier although i did not exercise at all wealth personal total networth is definitely affected by the stock market onslaught due to covid 19 mine wasn t spared as well as i am always vested with at least 90 of my cash asset still down by 12 ytd as i am writing this post still adding more stocks every month to catch the eventually and long awaited recovery i am not too worry as volatility is always part of investing journey and i am focusing on stocks that will ride the global recovery like alibaba apple etc retirement planning cpf executed per plan transferred oa balance to sa since oct 2019 and will reach full retirement sum in sa 181k in sep very excited as this is a major goal i set 4 years back and finally this goal is completed that s all i have for some personal and family updates from cb till phase 2 stay safe everyone have a plan execute it posted by turtle_investor at 11 08 pm 1 comment email this blogthis share to x share to facebook share to pinterest labels reflection friday july 17 2020 is old turtle a loser in singapore education system psle score 182 no problem don t worry you are not going to witness a turnaround story of a stupid turtle that went on and became a phd medical doctor or lawyer there has been much talks discussion and debates on psle scores and how it shape and pre determine your future much had been said around psle examination over the years and old turtle was one of the product or victim from the past and existing singapore educational system https www businessinsider sg one by one singaporean celebrities are revealing their psle scores in support of the lifebeyondgrades movement education profile primary school plse 182 6 years secondary school normal academic 5 years polytechnic diploma 3 years national service 2 years bsc degree 4 years part time studies mba 18 months part time studies i remembered when my mum saw my psle result she said everyone in our family was studying 4 years and you were the first one studying 5 years i kept silent but in my heart i knew she was disappointed my result and more importantly worried about his only child s future in this competitive singapore economy i kept going in secondary school and as usual i am not very smart in taking examination and i am extremely bad at english and maths and as you know both subjects are key in our singapore educational system i am good at subjects like chinese history and geography but unfortunately they were deemed less important in our educational system parents please don t compare your children with other children as every kid will excel in their own ways it will just make your children feel demoralized and caused a lasting impact in their childhood give more encouragement and less comparison key milestones parents lost their business when i was in polytechnic and rely on savings to survive and they were only early 50s i am quite lucky my mum was a saver back then else our family would be in trouble went to ocs in national service and managed to save 80 90 of allowances not a lot back in those days but were significant to me managed to save around 10 15k started working at age 23 years old starting salary not even enough to apply for credit card and started contributing to the family s expenses concurrently took up part time degree at sim after work for 4 years and paid off the school fees annually using savings from ns and salary lost my first 5 digit figures in investment in one stock post gfc 2008 lesson learnt and life goes on cash savings and investments hits 200k 250k at age 30 as i had a high savings rate of 80 90 in the first 7 years of the job and together with some luck in investments mainly in singapore blue chips that generates 4 5 annual dividends age 30 got married and savings rate falls to 20 30 as kids came along together with other household expenses age 31 33 had our first and second kid age 35 cash savings and investments hits 520k and cpf hits 136k passive income hit average of 1 3k per month age 35 4 room bto hdb cost 260k fully paid off in 5 years no more debt from now on age 35 dad passed away made me even cherished my family even more even if i have to give up career advancement to spend more time with them values moral values are more important than your exam grades in life like stock investing true value may not be always be the same as price aka your exam grades my purpose of sharing my personal story is to inspire students that did not do well in their studies not to give up in themselves in any ways with honesty hard work grit and perseverance we can still survive and make it in this competitive singapore economy psle 182 never mind one la old turtle managed to survive in singapore raised and fed my family well and still able to prepare for retirement i knew my mum is finally feeling proud of her son even though he went a longer route to achieve what others had achieved i knew back then she was worried about my grades because she felt that i might not be able to survive in singapore with such lousy grade i guessed i had proven her wrong that grades are not everything if i can do it you can too do not give up in yourself do you have any inspiring story to share with me posted by turtle_investor at 11 38 pm 1 comment email this blogthis share to x share to facebook share to pinterest labels reflection wednesday july 15 2020 defining total financial networth at age 37 for the past 6 months i had seen my total networth fluctuating between 3 99 to 8 24 i have been maintaining 2 sets of networth 1 cash networth and 2 total networth since 2016 when i started tracking them on a monthly basis time flies and it has been 4 years already as of today this post i will talk more about my 2 total networth as this is more reflective of my overall financial assets that i owned or inheritance that i could passed to my wife and children after i leave this world choy i am only 37 young this year my personal definition of total networth total cash asset can be disposed and converted to cash within 3 months total illiquid assets like property and pension savings ie cpf in singapore context there has been lots of arguments in within the financial bloggers in singapore whether we should include our residential and cpf for networth calculations in my personal opinion i am calculating based on total assets i owned legally as part of inheritance planning so i track them closely so my wife will know where are my money after i am gone a little background profile of myself holding a full time job since year 2007 till today as a diploma holder and never been out of job before i thanked my lucky stars did my part time degree while working full time and complete it within 4 years got married at age 30 and got 2 kids subsequently paid up my hdb at age 35 has been topping my cash to my cpa ma and sa since 34 years old and on track to meet 2020 cpf frs doing my part time mba currently not in any senior management role non manager and non professional like doctor lawyers etc just a lucky farmer year total networth dec 16 639 534 55 0 dec 17 791 014 49 24 dec 18 842 286 05 6 dec 19 961 920 13 14 jun 20 931 465 19 3 below are the major contributors to my total cash networth and just like more singaporean residential property valuation i did not include my residential property market valuation in my calculation but i included the cpf oa used to purchase the property this means i valued the property at cost price which is around 60 higher than my cost price at current resale market price reason being i do not want to artificially inflate my networth as there s no chance of me selling my residential property and realized the property gains in any case i have already paid up the hdb cpf i had included my ordinary account oa special account sa and medisave account ma in the calculation over the past 5 years i have been topping up my sa and ma with cash to reduce personal income tax as well as to hit the goal meeting cpf frs this is one of my cornerstone for retirement planning debt liabilities zero food for thoughts i used to set a goal of meeting 1 million sgd in total cash networth at age 40 years old like many the total amount is just a number and nothing else i think i will hit 1 million on or before my target age but not so obsessed with it anymore good to have a goal though nowadays i am focusing more on the cashflows generated from the assets rather than the total numbers the total numbers gives me a sense of financial security but it is the cashflows that i need to survive on if i am out of job or during emergency situations however it is still worth tracking the total networth as i will know how much i am going to leave as inheritance if i am gone at any point of time never say never look at how covid 19 hit us suddenly have a plan execute it plan for the worst pray for the best posted by turtle_investor at 12 17 pm 6 comments email this blogthis share to x share to facebook share to pinterest labels reflection monday june 1 2020 are your finances healthy take test to find out this test was extracted from an straits times article https www straitstimes com business invest are your finances healthy take test to find out let old turtle take the basic financial check of my family expense to see whether my family financial is healthy or unhealthy excited let s start now 1 total debt servicing ration monthly loan salary turtle family 0 nil loan verdict pass recommended below 60 should aim for below 35 2 household liquidity ratio total cash savings total monthly commitment turtle family 8 2 months verdict marginal pass recommended more than 6 months 3 cash to net worth ratio cash asset debt turtle family 51 verdict pass recommended more than 15 means fyi below 15 means you are asset rich but cash poor 4 savings ratio monthly savings salary turtle family 51 verdict pass recommended it is prudent to save at least 10 of monthly pay 5 debt to asset ratio total debt total asset turtle family 0 nil loan verdict pass recommended below 50 should reduce loan exposure where possible conclusion turtle family passed all 5 basic tests to evaluate our financial health these are really basic ratios and it doesn t take into consideration of any of your side income passive income etc apart from your active monthly salary so imho it might not give you the most accurate and holistic picture but still its good as a basic tool to monitor your family financial health fyi i did not include our dividends and bond coupon interest so if i included these figures our family financial health would be even rosier what can be improve if i wanted to improve i will want improve household liquidity ratio from 8 2 months to at least 12 months to 18 months in fact me and my wife are already saving more cash from my monthly salary since jan 2020 reason being this global pandemic taught us that there could be an event that possibly put you out of job for more than 1 year for example if i am from the aviation or travel hospitality industry quoted from the article being prudent is key to surviving crisis in fact i already practiced financial prudence in my lifestyle in order to prepare for any unforeseen crisis even for extreme crisis like this pandemic so i am totally agreeable to the statement above in my own simple words better to be safe than sorry posted by turtle_investor at 12 01 am no comments email this blogthis 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