Weekly Blog for a family man in Singapore: 2024-12-29

Healthy lifestyle 2025

It is the start of year 2025. Healthy lifestyle is very important. This will pay dividends during later part of my life. In my earlier blogpost i have shared how i manage to keep my hypertension in control by doing exercise every day and eating fruits and keep to a DASH diet as much as i can. However i neglected in drinking water. My recent blood test in November shows that i have high amounts of creatine and also my kidney function is as well as a normal 47 years old. From the consultation with the medical practitioner, it hits me that it could be due to the amount of water i am drinking per day. I have now strive to drink 2liters of water per day to keep myself hydrated and also to provide water to my kidneys which are very important. I have also shared a link below for you to take a look on how much water you should drink per day. Take care everyone and be well and healthy.

Water Intake Calculator - How much water should you drink per day?

New Year 2025

It is the start of the new year in 2025.

I have accomplished an important milestone. I have max out my wife's special account with her contributing to it. So both of us when we reach the age of 55, we will be able to set aside the minimum sum of $227,500 (if it does not grow beyond that in 2027) for our full retirement sum. Based on forecast, i should be able to reach the enhance retirement sum which is 2 times of the FRS with my special and ordinary account combined. My wife may have some shortage to meet the ERS but i plan to top up in cash for her. This is because i would like to have a steady stream of income from age 65 onwards. Target to have $4,000 per month each. Total of $8,000 per month which roughly comes up to $96,000 or almost $100k per year. This will be sufficient to enable us to leave a comfortable life from 65 onwards.

My next milestone in 2025 is to pay off the mortgage of my house. How do i plan to achieve this? By increasing the mortgage payment of my house monthly. The mortgage of my house is about $38.5k left. Mi and my wife should be able to repay it by Dec 2025. Which means we will have money accumulate in our ordinary account as we work towards age of 55 to put aside the money for enhance retirement sum.

My other goals for 2025.

- To continue to write on my blog and achieve adsense for my blog. I have been doing for the past 1 year. I hope to achieve adsense.

- To celebrate hitting my wife special account max up, we are planning a trip to Japan in June 2025. Being the budget conscious guy i am, we are targeting a budget of $5k for this trip with my 2 daughters.

- A cruise with my family and my mother and maid by Dec 2025. Target a budget of $3.5k to $4k as the last cruise that we had is about $3.2k

- To continue to learn indonesian language for Duolingo for the year 2025

- To build up my stock dividend portfolio to target $30k per year. Right now is $15k+. By target bank stocks, reits, and any stocks that have great business and high dividend yields

5 Money Habits when you are young to cultivate

1. Learn to Save Consistently

Why it’s important: Saving teaches discipline and prepares for future needs or goals.
How to cultivate it:
- Encourage saving a portion of any allowance, gift money, or part-time job earnings.
- Use jars or labeled envelopes for goals like "Savings," "Spending," and "Giving."
- Open a savings account and regularly deposit money to watch it grow over time.

2. Practice Budgeting

Why it’s important: Understanding how to manage money helps prevent overspending and builds financial responsibility.
How to cultivate it:
- Teach them to allocate their money (e.g., 50% savings, 30% spending, 20% giving).
- Use simple budgeting tools like a notebook or apps for older teens.
- Involve them in planning small budgets for outings, school supplies, or personal projects.

3. Distinguish Between Needs and Wants

Why it’s important: Helps develop thoughtful spending habits and avoid impulsive purchases.
How to cultivate it:
- Discuss the difference between needs (essentials like food and clothes) and wants (luxuries like toys or gadgets).
- Encourage them to wait before buying something to evaluate if it’s truly necessary.
- Set goals for "wants" and help them save up rather than buying impulsively.

4. Earn Money Through Effort

Why it’s important: Earning money instills a sense of responsibility and an appreciation for its value.
How to cultivate it:
- Offer age-appropriate chores or tasks in exchange for pocket money.
- For teenagers, encourage part-time jobs, babysitting, or selling handmade goods.
- Teach them how hard work can lead to greater financial freedom.

5. Learn Basic Financial Literacy

Why it’s important: Knowledge about money lays the foundation for smart financial decisions.
How to cultivate it:
- Introduce simple concepts like saving, interest, and investing through books or games.
- Use educational tools like Monopoly or apps like PiggyBot to teach money management.
- Discuss family finances (e.g., household budgets, grocery shopping) in age-appropriate ways.

Bonus Tips for Parents

Be a role model: Demonstrate smart financial habits in your own life.
Celebrate milestones: Reward them for reaching savings goals or making smart money decisions.
Make it fun: Use stories, games, and real-life scenarios to keep financial lessons engaging.

By teaching these habits, children and teens can grow into financially savvy adults who know the value of money and how to use it wisely.

End of the Year 2024 reflections

It is coming to the end of 2024.

Firstly i would like to thank everyone who have come to my blog. I first started the blog 10+ years ago. This was my first entry to blogging and would like to thank google for it. I have on and off been writing articles and uploading photos of the journey i have taken. This year 2024 i have make a point to write 3 blog post per week and constantly upload all the information. I wanted to earn some passive income while i blog about the things that i like. Also to gain some followers as well. It has been an eventful year. With stock market going all time high in S&P 500 and also the wars going around internationally. The world indeed is exciting and not boring at all.

Reflections and for 2025

1. I have stuck to my goal of exercising every day for 1/2 hour daily jog and push ups for the past 1 year. Except for holidays and sick, I manage to clock 350 days of jogging with average of 4.5 km per day which works out to 1500 km per year. Drinking water is also good. Over my last 3 weeks in Dec 2024, i have strive to drink at least 2 liters of water per day and practice good sleep hygiene.

2. I have invested regularly into the S&P 500 from 2023 Jan till now. In total it has rise to 28% in the portfolio which I will continue to invest until 2032. Target of 10 years.

3. I have do a daily Duolingo of the Indonesian language and i have diligently practice it. Although I still cannot comprehend what the locals are saying. I have been able to pick up words and verbs of it. So still a beginner but I will continue to improve on it.

4. I will still write on the blog but i will focus more on how save money in terms of bulk purchase or value proposition or doing more on spreading the cash incentive. In other words whatever money i can bring in with minimum skill sets.

5. I will continue invest in local SG stock market to create a dividend passive income for years to come. I am at 5 figures dividend income which I want to target a 6 figures dividend income. This will provide my family with passive income for life once I reach the $100k+ per year. I am currently at the $10k+ still some way to go. I want to accelerate this income with my working years.

6. I will continue to build up my mum's portfolio income so that she is able to draw a fixed income for life. All her investments are in the fixed income which is low risk. I want to be able to have a fixed income for her for $6k per year where she will have at least $500 per month of expenditure for herself.

7. I am looking at liquidating my other investments in HSBC life and Prudential assurance which are not really making money and i am suffering a paper loss. Once these 2 investments is my original invested amount, i will perhaps liquidate it and use it as my capital to invest myself.

8. Looking at an opportunity to learn new skill set in 2025 as i have skill future to utilized by end 2025.

9. By end of 2025, I will be able to pay off my HDB loan and will celebrate another milestone hit. From there to further invest with my ordinary account. To target $1m in the ordinary account. This will have a passive income of $25k per year once i hit that target.

10. Looking at credit cards promotion to get a free gift. The gift that i am looking at is a free switch.