Personal Finance Challenge

Thought you guys might find this useful.  Do give it a whirl though, I had loads of fun graphing my own finances.

Always thought managing your personal finance is a complicated and dreaded affair?

A glimpse of Wealth Manager - Simulating investment in property

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Think you're financially smart? Take the Finance Challenge and stand a chance to win an Asus Eee PC till 30 June 2009

Prosperity Personal is an open community where netizens gather to share their wisdom, thoughts and experiences and build confidence in personal finance in a dynamic environment.

The Investor Manifesto

All hail the manifesto!

I am an investor. I do not trade my assets frequently. That’s speculation, not investing.

I am also a saver, fueling my investments with continuous savings from current income.

I am an investor. I do not trade my assets frequently. That’s speculation, not investing.

I know that every kind of asset entails risk — even cash, which can be eroded by inflation.

I know that higher returns entail higher risk, in every kind of asset.

I accept those risks, but I mitigate them by owning a diversity of assets.

I regard my home as a place to live, not as an investment. It is not a substitute for retirement savings.

I have an investment plan and a plan for asset allocation, in consultation with a financial adviser.

I invest regular amounts every month, in both rising and falling markets. I know I can not gauge market tops and bottoms. If I receive a windfall — a bonus, bequest or gift — I gradually feed it into my regular investment mix.

I don’t pour more money into hot markets nor completely cash out of plunging markets.

I spread my investments among several asset classes, in a mix fitting my age and risk tolerance.

My share of bonds roughly equals my age. I will allocate to stocks a declining portion of my financial assets as I get older.

I rebalance my portfolio every quarter. If the stock market plunges, pushing my stock allocation way below its target percentage, I sell bonds and use my cash to buy stocks.

I force myself to sell high and buy low by periodic rebalancing-just what is temperamentally difficult for most investors to do.

I know that stocks are risky in the short run, so I hold in equities no money for which I have a likely need in the next three years.

But stocks are not too risky in the long run. They have outperformed all other commonly traded assets over periods of 15 years and longer.

Foreign stocks account for at least 15% of my stock allocation. I believe that developing economies will enjoy much higher growth than the U.S. in the decades ahead.

I never borrow against my stocks. Margin calls could force me to sell good assets at a bad time.

I stick with my game plan. I do not check the value of my investments every day or even every week.

I try to keep my cool when other folks are losing theirs.

I remind myself often: I am an investor.

Let me know what you think about this list - do you agree with it all?

Changes to CPF on 1st July onwards

Some updates on the upcoming changes to Medisave and CPF Minimum Sum wef 1st July 2009.


CPF Minimum Sum
The CPF Minimum sum will be raised from $106k to $117k from 1st July 2009.


Medisave Minimum Sum


1) The Medisave Minimum sum (MMS) will be increased to $32k from $29.5k from 1st July 2009 in view of higher hospitalisation bills. Members can withdraw Medisave savings in excess of the MMS at age 55.


2) The maximum amount possible in Medisave will be increased to $37k. Any surplus will go into the SA if you are below age 55 or to your Retirement Account if you are above age 55 and have a Minimum Sum shortfall.

Medisave Withdrawal Limits for Surgical Treatment


Previously, the Medisave withdrawal limits for surgical operations were $150 for Table 1A to $5,000 for Table 7C.
Under the revised (increased) withdrawal limits that has taken effect from 1st June 2009:, patients can withdraw between S$250 and S$7,550 for surgical operations.

For more info, you may refer to below:
http://mycpf.cpf.gov.sg/CPF/News/News-Release/N_1June2009.htm
Thanks Adrian!

MY GROSSEST AMSTERDAM STORY

I’m gonna warn you up front, this story is a bit gross. The star of this story isn't me; it's a friend of mine. I'll call him Steve. So a group of us were in Amsterdam, doing all the standard things people do there - hitting the “coffee shops,” the Van Gogh museum, and ultimately a sex show.  

Now, this wasn't your standard sex show. In fact, there was no sex at all. It featured a well-past-her-prime woman who would lie down onstage and challenge members of the audience to try and shit in her face for 50 euros. Yes, shit in her face. If successful, you won a cash prize.  

Paying over 100 American dollars to try and defecate on this haggard creature in front of a crowd of drunk weirdoes sounded like a punishment to me. Not Steve. He likes a challenge. So he handed over his 50 euros and dropped trow. Alas, with the combination of unanticipated stage fright and the woman blowing air from her mouth directly on his asshole, shitting was impossible. Steve failed. In fact, all the challengers failed that evening.

The rest of us thought it was a hilarious adventure. But Steve was pissed. He wanted a rematch. To prepare for the ensuing battle, he spent the whole next day stockpiling ammunition by constantly eating olives and nuts and pounding red wine like he was the second coming of Bacchus. 

When we returned to the show the following day he was buckling over in pain he had to shit so bad. Finally the big moment came, Steve's rematch.  

Onstage, he could barely get his pants off because his bowels were so pent up. The woman does this for a living; she could clearly tell what was happening inside Steve's body. She calmly braced herself as… 

Steve unleashed a devastating fury of diarrhea into this poor woman's face! It was horrifying. Then she stoically got up and walked off stage. Steve had won, though he didn’t look overjoyed. Now he wanted to apologize to the woman. The woman had a shockingly pragmatic attitude about the whole thing. She explained that she makes a lot of money for only 30 minutes of work a night, and about once a week, someone actually shits in her face. Then she takes a shower and goes home.  

In a way, aren't most jobs worse than that? We're all proverbially shit-on at work, but for most people it's not something you can easily wash off with soap and it happens far more than once a week.


source: http://www.madatoms.com/site/blog/my-grossest-amsterdam-story

Largest Bankruptcies in History

Lehman is a titanic...

click to enlarge

Think you have a good idea that will make you wealthy? Then you must watch this first.

Chase after your dreams, but don't go outta your mind.  In this clip, inventor Marc Griffin shows off his new game, "Bulletball", to the American Inventor judges.