Sunday, October 25, 2009
Inadequate parking spaces for visitors in HDB estates
Do you experience difficulty in finding parking space as a visitor and see many spaces reserved for residents that are unused? Read my views here. If you agree with my views, please write a follow up letter to Today paper.
Enjoy $1 discount on my books
I publish the following books that sells for $7.90 each at the bookstores:
Intelligence Quiz Vol 1, 2
Sudoku Vol 1, 2
Shape Quiz
You can buy them at a discount of $1 per book (i.e. $6.90) if you buy 5 books or more (of same or different titles) from my office (open Monday to Friday, 9 am to 6 pm).
You can collect orders from your family and friend and buy them together on one trip. Ask a friend to drive to my office and collect it from there. You save on postage and enjoy a discount.
Intelligence Quiz Vol 1, 2
Sudoku Vol 1, 2
Shape Quiz
You can buy them at a discount of $1 per book (i.e. $6.90) if you buy 5 books or more (of same or different titles) from my office (open Monday to Friday, 9 am to 6 pm).
You can collect orders from your family and friend and buy them together on one trip. Ask a friend to drive to my office and collect it from there. You save on postage and enjoy a discount.
Amazing Numbers
Amazing Numbers is a game that amazes many people. You ask your friend to choose a number and you can find out the number by showing him or her just a few cards.
I have arranged these cards in a single sheet of paper that you can print and cut them out. You can use them to amaze your friends. Interested? Click here.
I have arranged these cards in a single sheet of paper that you can print and cut them out. You can use them to amaze your friends. Interested? Click here.
Build up 6 to 12 months of savings
Hi Mr Tan,
I have read the draft 5a of your Financial Planning book. It is a great read and contains many practical financial tips.
Would it be better for young people to clear off their debts (e.g. study loans, wedding loans, renovation loans, car loans) before embarking on an investment plan?
Most young people are short-sighted and do not see the benefit of saving 6-12 months of their salary. Recently, I have attended a course which covered personal finance. The trainer said that it is beneficial to have savings to fall back on as you can treat it as a interest free loan instead of borrowing from the banks.
Considering how much the banks are charging for the loans, I realised that having money at hand to handle personal emergencies is very important indeed.
Would you agree that for a HDB housing loan, it would be better to borrow to the max(30 years) as Mr Larry Haverkamp has suggested in his articles. What are your opinions for a bank housing loan as a comparison? Do you agree that housing loan is probably the only loan that we should not draw down on even if we have the means to do so?
REPLY
I agree that it is better to pay off the loan, if they carry a higher interest rate than the yield on low risk investment (say 3%). As HDB loan is 2.6%, it is better to take the max loan from HDB and invest to earn more than 2.6%. I agree that a housing loan is probably the only loan that you should have in your lifetime.
I have read the draft 5a of your Financial Planning book. It is a great read and contains many practical financial tips.
Would it be better for young people to clear off their debts (e.g. study loans, wedding loans, renovation loans, car loans) before embarking on an investment plan?
Most young people are short-sighted and do not see the benefit of saving 6-12 months of their salary. Recently, I have attended a course which covered personal finance. The trainer said that it is beneficial to have savings to fall back on as you can treat it as a interest free loan instead of borrowing from the banks.
Considering how much the banks are charging for the loans, I realised that having money at hand to handle personal emergencies is very important indeed.
Would you agree that for a HDB housing loan, it would be better to borrow to the max(30 years) as Mr Larry Haverkamp has suggested in his articles. What are your opinions for a bank housing loan as a comparison? Do you agree that housing loan is probably the only loan that we should not draw down on even if we have the means to do so?
REPLY
I agree that it is better to pay off the loan, if they carry a higher interest rate than the yield on low risk investment (say 3%). As HDB loan is 2.6%, it is better to take the max loan from HDB and invest to earn more than 2.6%. I agree that a housing loan is probably the only loan that you should have in your lifetime.
A heavy burden to pay insurance premiums
A poly student told me that he has to $300 a month on this insurance premium. His friend sold him two policies recently, and advised him that he pays a lower premium at a younger age.
The poly student receives a monthly allowance of $600 from his father. Half of this allowance goes to pay the premium. He is finding it to be a burden, but he does not wish to cancel the policies and lose the premiums that were paid.
It is bad advice for his friend to sell him these two policies when he has not yet started to work. His friend was greedy to earn his commission and meet his sales target, and left a burden to the poly student.
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