Announcement of $4000 for 40 years old and above

 With the announcement of the $4000 for 40 years old and above, i believe that there will be a lot of people going for courses in the next 2 years. Hopefully the courses that will be provided by the skills future and NTUC learning hub will have more depth instead of an overview. 

Currently for NTUC learning hub, they provided a list of certifications for Prince 2, PMP, Cisco, Microsoft etc which is quite affordable less than $500. For people who are 40 and above and have not utilized the skills future credit. you will have $1500 in the account. Do take note that $500 will have to be utilized by 2025. 

Below are the areas of interest for people who are age 40 and above.

1. Digital Literacy:

   • Embrace technology and stay updated on digital tools, social media, and online platforms.
   • Learn basic coding or data analysis skills, as these are increasingly in demand across various industries.

2. Project Management:

   • Acquire project management skills to effectively plan, execute, and oversee tasks, projects, or even career transitions.

3. Communication Skills:

   • Enhance your communication skills, both written and verbal, as effective communication is crucial in any profession.

4. Leadership and Management:

   • Develop leadership and management skills to take on more responsibilities or leadership roles within your current profession.

5. Entrepreneurship:

   • Explore entrepreneurship and business skills if you're considering starting your own business or pursuing freelance opportunities.

6. Data Analysis and Business Intelligence:

   • Gain skills in data analysis and business intelligence to make informed decisions and understand trends in your industry.

7. Health and Wellness:

   • Focus on maintaining a healthy lifestyle and consider learning about holistic health practices, fitness, or nutrition.

8. Language Skills:

   • Brush up on or learn a new language, especially if you're involved in international business or have plans to work in diverse environments.

9. Financial Literacy:

   • Strengthen your financial literacy to make informed investment decisions, plan for retirement, and manage personal finances effectively.

10. Networking and Relationship Building:

    • Develop networking skills to expand your professional connections, both online and offline.

11. Soft Skills:

12. • Enhance soft skills like adaptability, problem-solving, and critical thinking, which are valuable in any workplace.

13. Industry-Specific Skills:

• Identify specific skills that are in demand in your industry and invest time in acquiring them.
14. Home | Myskillsfuture.gov.sg
15. Digitalisation Training - NTUC LearningHub
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Singapore Budget 2024 on 16-Feb-2024

Closing of Special Account at Age 55

Finally the Government is closing up the loophole of the CPF shielding for SA. For people who are aged 55 and above in 2025, after meeting the RA full retirement sum, the Special account will be closed and the excess amount in the special account will be directed to the Ordinary account instead. 

With this new directive in place, it make sense to top up the special account or transfer from Ordinary to Special account at a young age to take advantage of compounding until age of 55 years old. Why do i say so? So that we can take advantage of compounding by the Government. Although the loop hole is closed for 55 years and above, this will benefit the low to middle income people. For those who believe in CPF as well.

$4000 top up to Skills Future and studies 

All Singaporeans aged 40 and above will be given a $4,000 top-up of SkillsFuture credits in May to encourage mid-career workers to refresh their skills and progress in their careers. Below is an extract from Mothership which shows the benefits and lifetime subsidy of 24 months of $3000 (50% of last drawn average pay over 12 months) From what i foresee, a lot of people who are aged 40 and above will be drawn to this and take sort of a break from work to study for full time diploma. Of course it will be subjected to the courses that are available. A lot of polytechnics will definitely benefit from this sudden burst of full time adult learners. My guess is next year, there will be huge influx of students from age 40 and above. People who wants to recharge, take a break and pick up new skills. 

What are the 10 free activities to do with Children in Singapore?

 Singapore offers a range of family-friendly activities that are enjoyable for children, and many of them are free. Here are ten free activities to do with children in Singapore:

1. 1. Singapore Botanic Gardens' Jacob Ballas Children's Garden: This dedicated children's garden within the Singapore Botanic Gardens is designed for interactive play and learning. It features water play areas, treehouses, and educational exhibits.

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3. 2.Playgrounds at Gardens by the Bay: Gardens by the Bay has several outdoor playgrounds, including the Far East Organization Children's Garden with water play features. Admission to the outdoor gardens is free.

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5. 3.East Coast Park: East Coast Park offers a scenic coastline, cycling paths, and large playgrounds. Children can play on the beach, cycle, or explore the park's various recreational facilities.

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7. 4.Bishan-Ang Mo Kio Park's Water Playground: Bishan-Ang Mo Kio Park is home to a water playground where children can have fun splashing around. The park also has wide open spaces for picnics and outdoor games.

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9. 5.Singapore Sports Hub's Splash-N-Surf: Located at the Singapore Sports Hub, the Splash-N-Surf area offers a water play area and a skate park. While there may be charges for some activities, the water play area is free.

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11. 6.National Museum of Singapore (Children's Season): The National Museum of Singapore occasionally hosts Children's Season, featuring interactive exhibits and activities for kids. Some events during Children's Season may be free.

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13. 7.HortPark: HortPark, a gardening-themed park, has open spaces, themed gardens, and a nature playgarden. It's a great place for children to explore and learn about plants.

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15. 8.Singapore's Public Libraries: Singapore's public libraries offer storytelling sessions, workshops, and interactive activities for children. Check the library schedules for free events.

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17. 9.Punggol Waterway Park: Punggol Waterway Park is known for its scenic waterway and playgrounds. Children can enjoy playing in the sand, explore the park, and take in the beautiful surroundings.

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19. 10.Tiong Bahru Air Raid Shelter Playground: This unique playground is located near the Tiong Bahru Market. It features an air raid shelter-themed play area, providing an interesting and fun experience for children.

How to spend only $100 during Valentine's day in Singapore?

 Spending a memorable Valentine's Day on a budget is possible in Singapore. Here's a guide on how to spend around $100 while still having a special and enjoyable day:

1. 1.Picnic at a Public Park: Pack a homemade picnic with your partner's favorite snacks, sandwiches, and a refreshing beverage. Head to a public park like Botanic Gardens or East Coast Park to enjoy a cozy and budget-friendly outdoor meal.

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3. 2.Free Outdoor Activities: Explore Singapore's scenic spots like Marina Barrage, Sentosa's beaches, or the Southern Ridges. Take a leisurely stroll, enjoy the beautiful views, and capture some memorable moments together.

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5. 3.DIY Romantic Dinner at Home: Prepare a homemade romantic dinner together. You can buy affordable ingredients from local markets and cook a simple yet delicious meal. Set up a cozy dinner table at home with candles and soft music for a romantic atmosphere.

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7. 4.Free Cultural Experience: Visit neighborhoods like Chinatown, Little India, or Kampong Glam to soak in the cultural ambiance. Explore the colorful streets, visit temples or mosques, and enjoy the vibrant atmosphere without spending money on attractions.

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9. 5.Affordable Dessert or Coffee Date: Share a sweet moment by visiting a local bakery or cafe for some affordable desserts or a cup of coffee. It's a simple yet delightful way to enjoy each other's company without breaking the bank.

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11. 6.Movie Night at Home: Choose a favorite movie or explore a new one together. Create a cozy movie night at home with homemade popcorn, snacks, and your preferred beverages. It's a budget-friendly and intimate way to spend quality time.

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13. 7.DIY Gifts: Exchange thoughtful and handmade gifts. Whether it's a handwritten love letter, a scrapbook of memories, or a small DIY craft, personalized gifts can be more meaningful than expensive store-bought items.

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15. 8.Free Events or Performances: Check local event listings for free performances, concerts, or art exhibitions happening on Valentine's Day. Enjoy some cultural entertainment without spending money on tickets.

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17. 9.Stargazing at Marina Barrage: Head to Marina Barrage in the evening for a romantic stargazing session. Bring a blanket and enjoy the night sky together. It's a serene and cost-free way to share a quiet moment.

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19. 10.Memory Lane Walk: Take a walk down memory lane by revisiting the place where you first met or had your first date. Reflect on your journey together and reminisce about the special moments you've shared.

Will 4% rule withdrawal rule work in Singapore stock market?

 The 4% withdrawal rule, also known as the Safe Withdrawal Rate (SWR), is a commonly used guideline in retirement planning. It suggests that you can withdraw 4% of your retirement portfolio's value annually, adjusted for inflation, and have a high probability of not running out of money over a 30-year retirement period.

While the 4% rule is a widely recognized concept, its applicability to specific markets, including the Singapore stock market, may vary. The success of the 4% rule depends on several factors, including investment returns, inflation rates, and the length of the retirement period.

Here are a few considerations specific to the Singapore stock market:

Market Conditions: The historical performance of the Singapore stock market, as well as future market conditions, will impact the success of the 4% rule. Different market environments may lead to variations in returns.

Currency Risk: If you plan to retire in Singapore but hold investments in other currencies, currency fluctuations can affect the real value of your withdrawals. Be mindful of currency risk when applying the 4% rule.

Diversification: Diversifying your investment portfolio across various asset classes can help mitigate risks. The 4% rule assumes a diversified portfolio, so it's essential to consider how well your specific investments align with this principle.

Inflation: Singapore's inflation rate will impact the purchasing power of your withdrawals over time. Ensure that your investment strategy considers inflation and adjusts your withdrawals accordingly.

Longevity: The 4% rule is designed for a 30-year retirement period. If your retirement lasts longer, you may need to adjust the withdrawal rate to ensure your funds last throughout your lifetime.

It's crucial to note that no rule is foolproof, and individual circumstances vary. Regularly reassess your financial situation, monitor your portfolio, and be prepared to adjust your withdrawal strategy based on changing market conditions and personal factors.