I have to look internal before external. Just like companies, they have got to look at internal problems first because, this is easier to solve than external problems beyond one's control. This is what I have learnt in accounting and can also apply in real life.
Its easy to keep blaming people about this and that, however dont let this influence you. Just learn not to be like them and learn from it to be a better person. Just like companies, if they want an increase in sales for example, they must ensure that they have good internal control eg. Total Quality Management (TQM) which means they can have quality checks on the goods before they are sold, this can reduce warranty costs, repair costs, goods recall, customer satisfaction, loss of brand name etc.
Using this principle on myself, I study and learn more before I can say I fully understand the situation. This can make oneself become more analytical and also thoughtful as a result. Also, if you are kind and helpful but dont look pretty, people will also view you more positively.
Monday, 28 February 2011
So pissed- Tax class
Let me tell you how pissed I am today, damn it man. Woke up at 7.15am to prepare to go for tax lesson which is supposed to start at 9am but when i reached there, there is this board which will tell you which classroom to go and I cant find my tax classroom. I knew something is wrong liao man.
Then I went to the general office and asked one of the kind women there whether they can help me find where it is held because my timetable clearly stated that there is tax lesson today at 9am. I am not sure of the venue, because got my acca results last week and I failed tax so I signed up for pro-rated tax lessons like all the other people who failed too.
This kind and helpful malay lady who can also speak chinese can to my rescue and she searched computer and found this email dated 25Jan to students to inform them that the 28feb lesson will be pushed forward to 21feb instead. Isnt this like $#@& !!!!!!!!!!!!!!!!!! Students who sign up for the pro-rated lessons would have been informed of this bloodly idiotic arrangement isnt it? Because exam results came out on 21feb and no way would they be able to make it for the lesson.
Seriously this is wtf man, its about $40 down the drain, and time and transport fees all the way there and back home. Dont they have this service which automatically remind students of cancellations? And if the teacher cannot make it on 28feb, dont put it on the timetable and mislead students, if there are changes, they should make changes to the timetable asap. I really should give the lecturer a piece of my mind man!
Good thing is, I kept my cool in the general office, because the counter lady was so nice to extend her assistance which is out of her way and by no means her fault either. I politely thanked her for her help and went back home. Sometimes, I guess life is like that, sometimes it gets so $%#& but always keep your cool. This is just an unfortunate incident which the lecturer may not have predicted. Forgive and forget about it is the best ba. Btw, i also have a reputation to keep because I was in the previous batch of acca committe so I gotta just keep my cool haha. Usually i will just keep my cool even if I am not in the committee but i will niam niam niam the way home haha! Lifes like that!
Morale of story is, if I had not failed tax, I wouldnt have to retake and this shit wouldnt have happened. I take this as a punishment =( cannot blame school or other people, look internal before external. Just like companies, they have got to look at internal problems first because, this is easier to solve than external problems beyond one's control. This is what I have learnt in accounting and can also apply in real life.
Then I went to the general office and asked one of the kind women there whether they can help me find where it is held because my timetable clearly stated that there is tax lesson today at 9am. I am not sure of the venue, because got my acca results last week and I failed tax so I signed up for pro-rated tax lessons like all the other people who failed too.
This kind and helpful malay lady who can also speak chinese can to my rescue and she searched computer and found this email dated 25Jan to students to inform them that the 28feb lesson will be pushed forward to 21feb instead. Isnt this like $#@& !!!!!!!!!!!!!!!!!! Students who sign up for the pro-rated lessons would have been informed of this bloodly idiotic arrangement isnt it? Because exam results came out on 21feb and no way would they be able to make it for the lesson.
Seriously this is wtf man, its about $40 down the drain, and time and transport fees all the way there and back home. Dont they have this service which automatically remind students of cancellations? And if the teacher cannot make it on 28feb, dont put it on the timetable and mislead students, if there are changes, they should make changes to the timetable asap. I really should give the lecturer a piece of my mind man!
Good thing is, I kept my cool in the general office, because the counter lady was so nice to extend her assistance which is out of her way and by no means her fault either. I politely thanked her for her help and went back home. Sometimes, I guess life is like that, sometimes it gets so $%#& but always keep your cool. This is just an unfortunate incident which the lecturer may not have predicted. Forgive and forget about it is the best ba. Btw, i also have a reputation to keep because I was in the previous batch of acca committe so I gotta just keep my cool haha. Usually i will just keep my cool even if I am not in the committee but i will niam niam niam the way home haha! Lifes like that!
Morale of story is, if I had not failed tax, I wouldnt have to retake and this shit wouldnt have happened. I take this as a punishment =( cannot blame school or other people, look internal before external. Just like companies, they have got to look at internal problems first because, this is easier to solve than external problems beyond one's control. This is what I have learnt in accounting and can also apply in real life.
MY ILP analysis
( Initially I had very negative views about ILP but after consulting agents and flowerpod I understand why ILP is still popular, it is just how you rearrange whats in your ILP and how you can maximise your money. I am learning and reading up more about it and below are some things which I have just learnt)
I have this policy which I bought without thinking in July 2010.
- I am paying $1907.28 for 60+years (if I were to continue till I am that old)
- Now, the premium is split into two different funds, 50% in China-Indian fund and another 50% in Singapore Managed Fund.
- I have this Crisis cover Provider III with an assured sum of $50,000 for 99 years
- Total and permanent Disability with sum assured of $104650 for 44 years. I would be 64 years old by then, and I think I may need a wheelchair le, so I don’t think 44 years is enough.
Advantages
- Its supposed to be good when i started out young at 20 years old. Since, there will be higher charges for aged 50 onwards, I may terminate it by the time I reach 50.
- Low premiums
- You most likely get back a substantial lump sum after like 30 or 40 years if you diligently not take out any for emergencies lah and let it grow and grow.
- You can take out the available amount for emergency use and there is no charge, but
- Its supposed to be good when i started out young at 20 years old. Since, there will be higher charges for aged 50 onwards, I may terminate it by the time I reach 50.
- Low premiums
- You most likely get back a substantial lump sum after like 30 or 40 years if you diligently not take out any for emergencies lah and let it grow and grow.
- You can take out the available amount for emergency use and there is no charge, but
-It can also be treated as a form of diversification i guess.
-I have this crisis cover till I am 99years old and usually other policies will stop at 65 years old.
Disadvantages
- Must have balls to tahan incase econony goes down. Holding power is important and shouldn’t have cold feet and withdraw when it is at your disadvantage just like stocks.
- High admin fees in the first 4 years which means that 100% of premium will be invested after 4 years. If i am not wrong, first yr only 15%, 2-3year is 50%
- It does have hospitalisation or accident cover which i feel is more important for my age group. Right now, this I feel health related insurance is more suitable rather than death, permanent disabilty or critical illness like stroke, cancer etc although it is important too but hospitalisation should be on a higher basis.
What i can do to maximise money's worth now that i know that I already have an ILP
- Lower my death payout sum so more of my premium can go towards investmemt which most like will be able to generate more returns. For now my death payout sum is 100k, haha my life only worth a miserable 100k but, this 100k is quite a lot for an ILP, and people my age insure their death for 20-50k only.
- I can also reorganise my portfolio, currently its 50% in china-indian fund and another 50% in Singapore Managed fund. But i would like to diversify into the emerging market funds too. My ideal fund mix should be 40% china-indian, 40% emerging markets (or Global Equity Fund) and 20% singapore. I believe that those markets will boom within 20-40years, which is the period of time which I am probably holding my ILP for.
- In addition, i was also advised to pay my premiums monthly to take advantage of dollar cost averaging. Previously, i had opted to pay yearly, because i believe with more money put in, it can generate more. Now that the market is in an upward trend, i believe i will continue to pay premium yearly for the moment. I have to read up more about dollar cost averaging before making a decision, because i think that monthly payments will also incur a little admin charge.
Disadvantages
- Must have balls to tahan incase econony goes down. Holding power is important and shouldn’t have cold feet and withdraw when it is at your disadvantage just like stocks.
- High admin fees in the first 4 years which means that 100% of premium will be invested after 4 years. If i am not wrong, first yr only 15%, 2-3year is 50%
- It does have hospitalisation or accident cover which i feel is more important for my age group. Right now, this I feel health related insurance is more suitable rather than death, permanent disabilty or critical illness like stroke, cancer etc although it is important too but hospitalisation should be on a higher basis.
What i can do to maximise money's worth now that i know that I already have an ILP
- Lower my death payout sum so more of my premium can go towards investmemt which most like will be able to generate more returns. For now my death payout sum is 100k, haha my life only worth a miserable 100k but, this 100k is quite a lot for an ILP, and people my age insure their death for 20-50k only.
- I can also reorganise my portfolio, currently its 50% in china-indian fund and another 50% in Singapore Managed fund. But i would like to diversify into the emerging market funds too. My ideal fund mix should be 40% china-indian, 40% emerging markets (or Global Equity Fund) and 20% singapore. I believe that those markets will boom within 20-40years, which is the period of time which I am probably holding my ILP for.
- In addition, i was also advised to pay my premiums monthly to take advantage of dollar cost averaging. Previously, i had opted to pay yearly, because i believe with more money put in, it can generate more. Now that the market is in an upward trend, i believe i will continue to pay premium yearly for the moment. I have to read up more about dollar cost averaging before making a decision, because i think that monthly payments will also incur a little admin charge.
My next task is, learning how to check how the funds perform, next time can do it by myself without such huge chunks of my $$$ on agents’ commissions.
This is a print screen from my China-Indian fund factsheet
This is a print screen of my Singapore Managed Fund factsheet
My Singapore Managed Fund performance chart as at 25feb2011
My China-Indian Fund Performance chart as at 25feb2011
Well, both doesnt look very good isnt it? sian half le....
Sunday, 27 February 2011
Budget HDB Tai Tai
Now that i am not working, i must actively be aware of where my $$$ goes to
My lazy method is to put a certain amount say, $50 in my wallet and its supposed to last me for a week.
When it depletes faster too fast, i will know somethings up and got to immediately cut it. I am not too disciplined to use iphone expenses applications like my other friends but then i believe my method is quite effective too. I also use master or nets only for my lessons fees and dont hold any credit cards even though i was rather tempted by CIMB students credit card. I thought its good to use it to pay my school fees through CIMB credit cards then have like link points or something, but there isnt any of such priviledges. And somemore the credit is $500 only. And as of now, CIMB only has 2 branches, not convenient.
OK, lets see how budget i can be.
- last time i usually use $5 handphone pouch as wallets. Its super convenient and cute and it comes in my favourite pink. Downside is it gets spoilt easily, as in the zips will spoil, the cloth will suddenly got a big hole and stuff. Thus, I bought a real leather Braun Buffel wallet. It may should extravagent, but its not like my friends exorbitant Coach or LV wallets which cost at least $400++. I am proud to say I bought it at a steal, at $75 only, at Bugis BHG because they have this 50% sales! Lifetime warranty somemore! Love it! Dont have to change so frequently anymore!
-I dont buy makeup for my face. I believe in au natural! Although this caused me to look not very pretty but i look real! With significant amount of money saved up from not buying makeup, it amounts to alot. However, I do buy face products. I bought this whole stock of face shop mask straight from Korea instead of singapore because its cheaper and my friend chip in too! I am also a member of The Face Shop singapore. Ardent fan. I especially love the egg white peel but its not cheap, about $21. But then compare it with Kiehl, Derma etc its not too ex lah haha. And I also have sunblock from L'Oreal from Chinatown $10 only, compared to watson's $19.90. I also have face wash, toner, eye cream and lip balm from Nivea which cost $5.40, $4.95, $12 and $4.20 respectively, all from Chinatown too. Lastly, I also have face moisturizer from L'Oreal too which is about $10.50. Although it may sound like i use alot of stuff,but actually its not expensive, considering my pimples have decreased quite drastically! It should be treated as a long term investment, because I used to work full time and study part time until i so stressed i get breakouts, should be under control now ba. And I have never went to colour my hair or perm or rebond. In addition, I have never gone for a manicure or pedicure before. Well, thats a lot of savings isnt it haha. As for my hair, I guess I am going to colour a little in future hehe.
-I also dont buy lots of clothings. Usually clothes from This Fashion etc will suffice for me. Thats why i sometimes dress and look like an auntie and older than my tender age of 20 hahaha. One day, I shall dress up and make people faint haha. I know of girls who must go out shopping every week, and will drag their poor boyfriend along as atm or bag carrier haha! Caant imagine how much they will spend on shopping in a month. When i do happen to have high class dinners to attend, all i have to put on his some gel on my hair (the gel can gope from my bro), a bit of $5 lip gloss and a simple but presentable black dress which cost $20, then i am good to go! yay!
-Branded bags may be wow, but then its not suitable for me. My colleagues who are Clients Service carries Gucci, Burberry and Fendi bags. It must have cost them a bomb like maybe a whole month's salary goes to one bag alone. Gosh! But for me, i have this little dark blue cloth bag which cost a mere $10 which looks cheap but actually very hardy and goes with alot of my outfit and also a brown messenger sling back which cost $10 only too! The bag which i guess to school is a Sembonia which cost $125 hehe. But looks really nice and real leather too! Come on why dont you pay $125 for a real leather instead of $2000 for a demin Fendi bag which is not even leather? Maybe some people just like the brand name ba haha. Different people different preference. Oh and the Sembonia bag was a present from my mother, didnt buy it myself hehe.
-Food is a must for me! I eat like a man. Seriously, no joke. I can eat chicken rice with extra rice somemore hehe. Can challenge those construction workers appetite liao haha! But i hardly go to restaurants makan except for outings with friends. I am very happy with coffee shops and food courts and I dont mind the smell which may get stuck on your shirts. Namely because I used to help out my parents in coffee shop and also the market so its like very natural and a norm for me. Food at coffee shop would cost at most $3.50 whereas those at the cafes or restaurants would be $20 at least.
-I also dont buy jewellery, I used to buy Perlini Silver's Italy earring because it doesnt make my ears swollen and they are rather reasonable at less than $10 per pair but usually after wearing for one or two months it will become brown O.O but my father bought me this Citigems while silver earrings which I can wear like forever, and they also provide free cleaning, and they have a branch in Clementi too!
-I am not a shoe freak either. My sports shoes are Nikey but was bought at a sales for about $60 which I wore since JC1 till now. And my daily leg wear is a $3 slipper hehe! Cheap and comfortable. For work or to areas which cannot wear slippers, I have this ballet flats bought at $19.90 and also this wedges for $18. Usually women are supposed to have shoes fetish, heng I dont have. Maybe because I dont wear heels, if I do, I probably be dead by now because I would have fallen to my death. My sense of balance on trains are terrible on flats and can you imagine on heels? haha
-Other expenses would be monthly eyebrow threading for only $% or snacks like soya bean milk, or the occassion toto and big sweeps etc. Not too much I guess. These little stuff increases quality of life haha.
But a huge chuck of my money goes to education, especially course fees and I have estimated that 3 years course for SIM and ACCA would be around $50000. My father and I will be splitting the bill. Thus, I cant be a spendthrift lor haha.
Btw, STI index went to about 2600 wow, that like an all time low for a few months leh, of course i didnt go in, it will almost certainly to go up and I hope it will probably dip again and then perhaps I may reconsider haha. Ok, back to mugging!
My lazy method is to put a certain amount say, $50 in my wallet and its supposed to last me for a week.
When it depletes faster too fast, i will know somethings up and got to immediately cut it. I am not too disciplined to use iphone expenses applications like my other friends but then i believe my method is quite effective too. I also use master or nets only for my lessons fees and dont hold any credit cards even though i was rather tempted by CIMB students credit card. I thought its good to use it to pay my school fees through CIMB credit cards then have like link points or something, but there isnt any of such priviledges. And somemore the credit is $500 only. And as of now, CIMB only has 2 branches, not convenient.
OK, lets see how budget i can be.
- last time i usually use $5 handphone pouch as wallets. Its super convenient and cute and it comes in my favourite pink. Downside is it gets spoilt easily, as in the zips will spoil, the cloth will suddenly got a big hole and stuff. Thus, I bought a real leather Braun Buffel wallet. It may should extravagent, but its not like my friends exorbitant Coach or LV wallets which cost at least $400++. I am proud to say I bought it at a steal, at $75 only, at Bugis BHG because they have this 50% sales! Lifetime warranty somemore! Love it! Dont have to change so frequently anymore!
-I dont buy makeup for my face. I believe in au natural! Although this caused me to look not very pretty but i look real! With significant amount of money saved up from not buying makeup, it amounts to alot. However, I do buy face products. I bought this whole stock of face shop mask straight from Korea instead of singapore because its cheaper and my friend chip in too! I am also a member of The Face Shop singapore. Ardent fan. I especially love the egg white peel but its not cheap, about $21. But then compare it with Kiehl, Derma etc its not too ex lah haha. And I also have sunblock from L'Oreal from Chinatown $10 only, compared to watson's $19.90. I also have face wash, toner, eye cream and lip balm from Nivea which cost $5.40, $4.95, $12 and $4.20 respectively, all from Chinatown too. Lastly, I also have face moisturizer from L'Oreal too which is about $10.50. Although it may sound like i use alot of stuff,but actually its not expensive, considering my pimples have decreased quite drastically! It should be treated as a long term investment, because I used to work full time and study part time until i so stressed i get breakouts, should be under control now ba. And I have never went to colour my hair or perm or rebond. In addition, I have never gone for a manicure or pedicure before. Well, thats a lot of savings isnt it haha. As for my hair, I guess I am going to colour a little in future hehe.
-I also dont buy lots of clothings. Usually clothes from This Fashion etc will suffice for me. Thats why i sometimes dress and look like an auntie and older than my tender age of 20 hahaha. One day, I shall dress up and make people faint haha. I know of girls who must go out shopping every week, and will drag their poor boyfriend along as atm or bag carrier haha! Caant imagine how much they will spend on shopping in a month. When i do happen to have high class dinners to attend, all i have to put on his some gel on my hair (the gel can gope from my bro), a bit of $5 lip gloss and a simple but presentable black dress which cost $20, then i am good to go! yay!
-Branded bags may be wow, but then its not suitable for me. My colleagues who are Clients Service carries Gucci, Burberry and Fendi bags. It must have cost them a bomb like maybe a whole month's salary goes to one bag alone. Gosh! But for me, i have this little dark blue cloth bag which cost a mere $10 which looks cheap but actually very hardy and goes with alot of my outfit and also a brown messenger sling back which cost $10 only too! The bag which i guess to school is a Sembonia which cost $125 hehe. But looks really nice and real leather too! Come on why dont you pay $125 for a real leather instead of $2000 for a demin Fendi bag which is not even leather? Maybe some people just like the brand name ba haha. Different people different preference. Oh and the Sembonia bag was a present from my mother, didnt buy it myself hehe.
-Food is a must for me! I eat like a man. Seriously, no joke. I can eat chicken rice with extra rice somemore hehe. Can challenge those construction workers appetite liao haha! But i hardly go to restaurants makan except for outings with friends. I am very happy with coffee shops and food courts and I dont mind the smell which may get stuck on your shirts. Namely because I used to help out my parents in coffee shop and also the market so its like very natural and a norm for me. Food at coffee shop would cost at most $3.50 whereas those at the cafes or restaurants would be $20 at least.
-I also dont buy jewellery, I used to buy Perlini Silver's Italy earring because it doesnt make my ears swollen and they are rather reasonable at less than $10 per pair but usually after wearing for one or two months it will become brown O.O but my father bought me this Citigems while silver earrings which I can wear like forever, and they also provide free cleaning, and they have a branch in Clementi too!
-I am not a shoe freak either. My sports shoes are Nikey but was bought at a sales for about $60 which I wore since JC1 till now. And my daily leg wear is a $3 slipper hehe! Cheap and comfortable. For work or to areas which cannot wear slippers, I have this ballet flats bought at $19.90 and also this wedges for $18. Usually women are supposed to have shoes fetish, heng I dont have. Maybe because I dont wear heels, if I do, I probably be dead by now because I would have fallen to my death. My sense of balance on trains are terrible on flats and can you imagine on heels? haha
-Other expenses would be monthly eyebrow threading for only $% or snacks like soya bean milk, or the occassion toto and big sweeps etc. Not too much I guess. These little stuff increases quality of life haha.
But a huge chuck of my money goes to education, especially course fees and I have estimated that 3 years course for SIM and ACCA would be around $50000. My father and I will be splitting the bill. Thus, I cant be a spendthrift lor haha.
Btw, STI index went to about 2600 wow, that like an all time low for a few months leh, of course i didnt go in, it will almost certainly to go up and I hope it will probably dip again and then perhaps I may reconsider haha. Ok, back to mugging!
Wednesday, 23 February 2011
ILP
Today, this lady Samantha from Manulife called me and wanted to meet up. This incident makes me think of my impulsive mistake of buying an ILP from xxx company. It was in July 2010.
This person called Ronald and told me he got my info from SIM and wanted to meet up. I was inquisitive and went to meet him during my lunch break at work. Then he started talking about blah blah products and stuff and he is in his 20s... should have known he was too young... I naively bought this insurance which he claimed can give a minimun of 5% return every year and I asked whether i can get my principal sum back when i need the money for emergency and he was like sure of course no problem.
Then, he passed me this package one week later and I just chucked it aside. I bought this so fast and didnt even consult anyone about it. I realised eventually it was actually an investment linked product. By then, it was too late to cancel, because the refund was only valid for 7 working days and this is long over. I regret not checking up more about it on the internet or asking around and didnt even consult aaron on this before signing on. I read through the package during work after a month and realised that my money is in this indian china fund thingy and worse still, only 15% of my money is invested in the first year and 85% goes to admin fees.
By then it was too late for a termination for a full refund.
The package states that from year 2 onwards 50% will be invested and from year 4 then only 100% is invested. I called up xxx insurance company, and check up on how much i can get if i terminate it now. I put in $1907.28 in July 2010 and guess what, if i were to terminate it now in Feb 2011, the grand total i will get back is $203 only! seriously! no kidding, double checked with xxx somemore. The rest had gone to xxx's agent and his agency. I cannot blame him, I was too naive, but then again, he is not ethical! He told me that of course i can get back my principal if i were to need money for my education. WTH! And worse still, i stupidly believed him! Morale of the story, this is a cruel business world.
Ok, i have to call up and check in June 2011 before my next premium and see how much i can get back and should i just cut loss or carry on this mistake for about 20 plus years?
Lets view the below simplistic calculations- assumption is i am using simple interest rates of 5% p.a for inflation instead of compounding effect becos me too lazy to calculate haha
if i were to terminate it on june 2011 assuming that the amount i can get back is $350
my net loss will be
[(1907.28×1.05-350)÷1907.28]×100%=86.6% loss
This person called Ronald and told me he got my info from SIM and wanted to meet up. I was inquisitive and went to meet him during my lunch break at work. Then he started talking about blah blah products and stuff and he is in his 20s... should have known he was too young... I naively bought this insurance which he claimed can give a minimun of 5% return every year and I asked whether i can get my principal sum back when i need the money for emergency and he was like sure of course no problem.
Then, he passed me this package one week later and I just chucked it aside. I bought this so fast and didnt even consult anyone about it. I realised eventually it was actually an investment linked product. By then, it was too late to cancel, because the refund was only valid for 7 working days and this is long over. I regret not checking up more about it on the internet or asking around and didnt even consult aaron on this before signing on. I read through the package during work after a month and realised that my money is in this indian china fund thingy and worse still, only 15% of my money is invested in the first year and 85% goes to admin fees.
By then it was too late for a termination for a full refund.
The package states that from year 2 onwards 50% will be invested and from year 4 then only 100% is invested. I called up xxx insurance company, and check up on how much i can get if i terminate it now. I put in $1907.28 in July 2010 and guess what, if i were to terminate it now in Feb 2011, the grand total i will get back is $203 only! seriously! no kidding, double checked with xxx somemore. The rest had gone to xxx's agent and his agency. I cannot blame him, I was too naive, but then again, he is not ethical! He told me that of course i can get back my principal if i were to need money for my education. WTH! And worse still, i stupidly believed him! Morale of the story, this is a cruel business world.
Ok, i have to call up and check in June 2011 before my next premium and see how much i can get back and should i just cut loss or carry on this mistake for about 20 plus years?
Lets view the below simplistic calculations- assumption is i am using simple interest rates of 5% p.a for inflation instead of compounding effect becos me too lazy to calculate haha
if i were to terminate it on june 2011 assuming that the amount i can get back is $350
my net loss will be
[(1907.28×1.05-350)÷1907.28]×100%=86.6% loss
if i were to terminate it 5 years later in 2015 the minimum amount i get is $3400. In 5 years i would have put in $1907.28×5=$9536.40 and with simple interest rate of 5% annually i would have put in 5 years is about $11920.50. My net loss would be
[(11920.50-3400)÷11920.50]×100%= 71.5% loss
if i were to terminate it 20 years later in 2020 the minimum amount i get is $40700. In 20 years i would have put in $1907.28×20=$38145.60 and with simple interest rate of 5% annually i would have put in 20 years is about $76291.20. My net loss would be
if i were to terminate it 20 years later in 2020 the minimum amount i get is $40700. In 20 years i would have put in $1907.28×20=$38145.60 and with simple interest rate of 5% annually i would have put in 20 years is about $76291.20. My net loss would be
[(76291.20-40700)÷76291.20]×100%= 46.65% loss
ok, i know this is stupid to continue calculation further, the loss will probably decrease but! the catch is, its still a loss! oh my tien...hoping that china and india will have some kind of extraordinary boom and so i can at least get back $500 to cut my loss by June 2011... four months to go...
ok, treat this as a lesson ba, so glad i mentioned to tell aaron my gold purchase in late July (this was about 2 weeks after the insurance thing) before it was confirmed and so didnt continue on another mistake which is even more costly thanks for his assistance bcos of the email he sent me. From then on, i had this phobia of investing, i have not invested in any shares or anything else other than the occassional toto when the prize ballooned to $1million or big sweeps once in a while hehe. Knowing about what you are buying is very important be it just a shirt, investing, car or house.
Subscribe to:
Posts (Atom)