Best Deposits for Guaranteed Income to look forward in May 2024

Singapore offers several guaranteed income instruments to its residents. Here are some common ones:

1. **Singapore Savings Bonds (SSBs)**: 

These are a type of government bond issued by the Monetary Authority of Singapore. SSBs offer a low-risk investment option with a fixed interest rate and the flexibility to redeem your investment at any time without penalty for 10 years. As of end April the average interest rate is @3.06%. Take note that the max. amount you can hold is $200k in Singapore savings bonds in total for the SSBs. There is also a $2 fee that will be incur when you purchase and redeem the Singapore Savings Bonds. Base on projection, it should remain @3.06%. The advantage for this is if you have extra cash sitting around idling in the bank, should consider to put inside the SSB. You will earn extra interest than put in a Bank Savings account. In the event if you need to liquidate your money in the SSB, it provides the flexibility of getting the principal back and interest of the month back to you. You can apply for SSBs in the 3 local banks (DBS, UOB, OCBC) through internet banking.

1. **T-bills**

T-bills are giving a higher percentage. It is giving 3.74% for 6 months and 3.54% for 1 year. The amount you can apply is up to $1,000k for any bonds that are open. Take note though you will need to hold your bonds until maturity. The advantage for T-bills is that you get your interest upfront. Take for example if you have invested $1k, you will get $18.70 in the bank account for the 6 months bond. After which you will get back the $1k when the 6 months holding period are met. There is also no $2 fee incur like the Singapore Savings Bonds. You can apply for T-bills in the 3 local banks (DBS, UOB, OCBC) through internet banking.

3. **Fixed Deposits**: 

Banks in Singapore offer fixed deposit accounts where you can deposit a certain amount of money for a fixed period at a predetermined interest rate. These are considered low-risk investments as they are typically backed by the bank's stability. Take note though the interest rate for fixed deposit has been dropping from 4% till 2.6% ~ 3.5%. Do note for fixed deposit you can withdraw your principal anytime but you will lose the interest if you did not hold it till maturity. 

Table of Banks from lowest to highest rate

4. **Annuities**: Insurance companies in Singapore offer annuity products that provide a guaranteed income stream for a specified period or for life, in exchange for a lump sum or periodic payments. Personally i will not recommend the annuity products as nothing beats the CPF Life unless you know that you will not able to live a long age and then annuities make sense if not i would rather pump the cash to CPF Life to beef up the retirement. 

5. **CPF LIFE**: The Central Provident Fund (CPF) is Singapore's mandatory social security savings plan. CPF LIFE is an annuity scheme that provides a monthly payout for life starting from a certain age, usually from the age of 65, using the member's CPF savings. Base on the new ruling from 2025 onwards, CPF members got the option to top up to 4x BRS (Basic retirement sum) when they reach age 55. This enhance retirement should be able to afford retirees from age 65 onwards a comfortable living toward the twilight years. Personally i feel that the Government can encourage people to further top up to Enhance Retirement sum before age 55 meaning can contribute cash or ordinary transfer till the amount reach 4x BRS instead of only 2x BRS. This will enable members to meet ERS faster and a piece of mind during 65.

5. **Endowment Plans**: These are insurance savings plans that provide both protection and savings elements. They typically offer guaranteed returns over a specified period and may include bonuses depending on the performance of the insurer. The term could be 10 years afterwhich an accumulation period of 10 years before having a fixed payout of 20 - 30 years. Personally i would rather invest it into other plans like CPF life, fixed deposits, tbills, SSBs. I can enjoy liquidity and the higher interest rates compared to Endowment plans. 

Before investing in any guaranteed income instrument, it's important to consider factors such as your investment goals, risk tolerance, and investment horizon, and to conduct thorough research or seek advice from a financial advisor.

Tuition in Singapore for Primary 3 and Pre-Primary

I must confess. I always thought that Tuition is not really required and we can save money by teaching or coaching our children. So i can save up for their education when they go to University. Boy i was wrong. The foundation they need to cultivate when they are young so that they will keep up the habit of learning when they grow up. Necessary money to spend if i can afford it so that when they go to polytechnic or University, they will be able to hold up on their own and get the first diploma or degree. 

After doing some research and asking my friends where their sons and daughters have grown up and went to University. They share with me, the Chinese language is difficult to master and need to learn it when they are young. So i enrolled my daughter in a Chinese Class. It pays off. My daughter was able to cultivate her interest in Chinese and her marks have improved. It was a worth while investment. I also enrolled my daughter in English tuition class so that she will be able to inteprete on the questions from Maths and Science. Both these classes total cost $400 per month. For my younger daughter, we enrolled her into the Maths and Science class whereby the cost is $90 per momth. 

Whether tuition is necessary for primary school students in Singapore depends on various factors, including the individual needs and circumstances of the child, as well as the expectations of parents and schools. Here are some points to consider:

1. **Academic Performance**: Some parents may opt for tuition to help their children achieve better academic results, especially if the child is struggling in certain subjects or aiming for top scores. Tuition can provide additional support, reinforcement, and personalized attention to help students grasp concepts more effectively.

2. **Competitive Education System**: Singapore's education system is highly competitive, with rigorous standards and high expectations for academic achievement. As such, parents may feel pressure to enroll their children in tuition classes to ensure they keep up with their peers and perform well in exams.

3. **Supplementary Learning**: Tuition can complement the curriculum taught in schools by providing supplementary learning materials, practice exercises, and exam preparation. Some tuition centers offer specialized programs or enrichment courses that may not be available in schools.

4. **Individual Learning Needs**: Every child has unique learning preferences, strengths, and weaknesses. Tuition can be beneficial for addressing specific areas of difficulty or catering to individual learning styles. Tutors can tailor their teaching approach to meet the needs of each student and provide personalized feedback.

5. **Parental Expectations**: In some cases, parental expectations or societal norms may influence the decision to enroll children in tuition classes. Parents may perceive tuition as necessary to ensure their children receive a well-rounded education and have the best opportunities for future success.

6. **Balancing Extracurricular Activities**: Many primary school students in Singapore have busy schedules filled with schoolwork, extracurricular activities, and family commitments. Tuition classes may help students manage their workload more effectively and stay on track academically.

However, it's essential to recognize that tuition is not always necessary or suitable for every child. Some students may thrive academically without additional support, while others may benefit more from alternative forms of enrichment, such as sports, arts, or volunteering. It's important for parents to consider their child's overall well-being, interests, and happiness when making decisions about education and enrichment activities.

Ultimately, the decision to enroll a child in tuition should be based on careful consideration of their individual needs, goals, and learning preferences, as well as open communication between parents, teachers, and the child themselves.

Free Playstation 5 from Credit Card Spending

Recently i got my playstation 5 console (digital version) free after getting the Standard Chartered Bank credit card which I applied for it last year November. I spend $500 overseas as i was travelling with my family for Cruise and a short trip to Malaysia. After 3 months, Singsaver sent me an email that i qualify within the spending and send me a e-gift card to redeem my free gift. It has been almost 20+ years since i have a console. I still remember my first console was Sega back in year 1994 which i bought it with my part time work as a caddie in keppel country club. After which i also bought a nintendo and a playstation 1 during my army days. After which my playstation was spoilt and i progress to Desk top gaming which is DOTA (warcraft 3 customised game). Then when i was at age 30+ i kinda of stopped gaming as i have other interests and hobbies. 

So this is not the freebie i gotten from Credit card before. I also got a chair and a ipad from the credit card promotion. Normally i will cancel the credit card after 1 year+ when i got freebie and when i have not much usage of the credit card. As the set back of having a lot of credit cards, i will need to keep track when the annual fee crops up on my payment screen. That is where i need to decide whether to keep the card or cancel it because of the annual fee. Right now i have 5 credit cards with me. I will definitely need to cancel it if i am no longer using it. 

Credit card issuers in Singapore often offer various perks and freebies to attract customers and encourage card usage. These freebies can range from welcome gifts and cashback rewards to travel benefits and dining privileges. Here are some common freebies you can get with credit cards in Singapore:

1. **Welcome Gifts**: Many credit cards offer attractive welcome gifts to new cardholders upon approval or meeting minimum spending requirements. These gifts may include vouchers, bonus reward points, or electronic gadgets.

2. **Cashback Rewards**: Some credit cards provide cashback rewards on eligible purchases, allowing cardholders to earn a percentage of their spending back in cash. These cashback rewards can add up over time and provide savings on everyday expenses.

3. **Miles Rewards**: Travel credit cards often offer miles rewards for every dollar spent, which can be redeemed for flights, hotel stays, and other travel-related expenses. Cardholders can accumulate miles over time and enjoy discounted or complimentary travel benefits.

4. **Dining Privileges**: Certain credit cards offer dining privileges such as discounts, complimentary dishes, or free drinks at participating restaurants, cafes, and bars. These perks can be particularly appealing for food enthusiasts and frequent diners.

5. **Shopping Discounts**: Some credit cards provide exclusive discounts, promotions, or access to sales events at partner merchants, online retailers, or department stores. Cardholders can enjoy savings on retail purchases, electronics, fashion items, and more.

6. **Travel Benefits**: Premium credit cards may offer travel benefits such as airport lounge access, complimentary travel insurance, priority boarding, and discounts on travel bookings. These perks can enhance the overall travel experience and provide added convenience and security.

7. **Entertainment and Lifestyle Rewards**: Certain credit cards offer perks related to entertainment and lifestyle activities, such as movie ticket discounts, concert presales, VIP experiences, and access to exclusive events.

8. **Annual Fee Waivers**: Some credit cards may waive the annual fee for the first year or offer annual fee waivers based on meeting spending requirements. This can help cardholders save money on card ownership costs.

9. **Balance Transfer and Installment Plans**: Credit cards may provide promotional offers for balance transfers or installment payment plans with low or zero interest rates for a specified period. These offers can help cardholders manage debt and finance purchases more affordably.

10. **Reward Points Redemption**: Many credit cards allow cardholders to redeem reward points for a wide range of items, including merchandise, gift vouchers, air miles, hotel stays, dining vouchers, and charity donations.

Before applying for a credit card based on its freebies and perks, it's essential to consider other factors such as interest rates, fees, terms and conditions, and how well the card aligns with your spending habits and financial goals. Additionally, make sure to read the fine print and understand any eligibility criteria or restrictions associated with the freebies offered.

50 ways to keep fit in the western region of Singapore

 Here are 50 ways to keep fit in the western region of Singapore:

1. Jog or run along the scenic paths of Jurong Lake Gardens.

2. Explore the trails of Bukit Batok Nature Park for a challenging hike.

3. Join a community sports team at Jurong West Stadium.

4. Practice yoga at one of the parks in the Jurong area.

5. Take a brisk walk around West Coast Park and enjoy the sea breeze.

6. Rent a bicycle and cycle along the Jurong Park Connector.

7. Try rock climbing at Climber's Laboratory in Jurong East.

8. Join a dance class at a community center in Jurong.

9. Swim laps at Jurong West Swimming Complex.

10. Play a round of frisbee with friends at West Coast Park.

11. Take advantage of free outdoor gym equipment at Jurong Lake Gardens.

12. Participate in a charity run or walk at Jurong Lake Gardens.

13. Join a group fitness class at a community center in Jurong West.

14. Explore the trails of Bukit Batok Town Park (Little Guilin) for a scenic walk.

15. Try stand-up paddleboarding at Pandan Reservoir.

16. Play a round of golf at Jurong Country Club.

17. Learn martial arts like taekwondo or karate at a local gym.

18. Go kayaking at Jurong Lake or Pandan Reservoir.

19. Attend a boot camp-style fitness class at a park in Jurong.

20. Practice mindfulness and meditation at Chinese Garden.

21. Take a dip in the pool at Jurong West Swimming Complex.

22. Join a running club or group in the Jurong area.

23. Rent a kayak or canoe and explore the waterways of Jurong.

24. Join a recreational sports league for football or basketball.

25. Go bouldering at Climber's Laboratory in Jurong East.

26. Try out a new sport like dragon boating at Jurong Lake.

27. Participate in a fitness challenge with friends or coworkers.

28. Take a scenic walk through Jurong Bird Park.

29. Join a free outdoor fitness boot camp session at West Coast Park.

30. Sign up for a water aerobics class at a local pool.

31. Explore the trails of Clementi Woods Park for a leisurely walk.

32. Join a recreational sports league for tennis or badminton.

33. Try out a new water sport like wakeboarding at Jurong Lake.

34. Go birdwatching at Sungei Buloh Wetland Reserve.

35. Attend free outdoor Tai Chi sessions at a park in Jurong.

36. Take a fitness-focused walking tour of Jurong.

37. Join a meetup group for outdoor enthusiasts in the west.

38. Try out a high-intensity interval training (HIIT) workout at a park.

39. Take a leisurely stroll through Chinese Garden.

40. Join a dragon boat team and paddle on Jurong Lake.

41. Play a round of soccer at Jurong West Stadium.

42. Go rollerblading or roller skating at West Coast Park.

43. Join a group for outdoor CrossFit workouts in the west.

44. Take a leisurely bike ride around Jurong Lake.

45. Try out a beachside yoga session at West Coast Park.

46. Go fishing at Jurong Fishing Pond.

47. Join a cycling club and explore the bike trails in the west.

48. Take a hike up Bukit Timah Hill for a challenging workout.

49. Play a round of beach volleyball at Sentosa's Siloso Beach.

50. Participate in a community gardening project in the west.

These activities offer a variety of ways to stay fit and active in the western region of Singapore, catering to different interests and fitness levels. 

I watched the Season 2 of the physical 100 and was inspired by the team work and the grit and determination the contestants showed. It showcased of different body types and attitudes and also luck. I can't wait for the Season 3 of the physical 100.