Assessable income distribution for YA2023

 

While uncle is probably in the top 10% tier of income tax payer, but within this 10% tier, its an exponential difference towards the top 1%, and within the top 1% its another big jump between the top 1% and the top 0.1%. The shape of the line above applies for 0-100 just like it applies for 90-100, and 99-100%. Its exponential all the way.

Uncle don't feel exceptionally well-to-do, if not, uncle would had stopped working and retired and drink kopi. Yes, uncle has rather comfy lifestyle for now, but it is not without worries like most working class/middle income folks. How to sustain it without income? What if uncle lose job? The downside is very very big. For someone who earns 50k PA now, he/she will think uncle is full of shit. I agree. I was at 50k PA before, and that's what I think of anyone earning 100k and above if they complain to me how tight finances are. But whether 50k, 100k, 200k, 400k....its the same. You earn more, you aspire more for life and loved ones, and you plan more. It's still a rat race. Just at a different level. 

Only the true top 1% would be really considered well to do here in SG. Really can shake leg and do NOTHING.

Income tax for YA2024

 

Lesser than previous years due to lower stock prices during vest date. Got lucky.

Interest-free instalment for paying income tax spread over 12 months...about $5k per month.

Quite a lot of cash outflow per month just to pay tax, but I think this is already low compared to most other countries

CPF balances 24 July 2024

 

I think for SA, my balance is considered "self-sustaining" as the 4% pa for SA could ensure my balance will continue to meet the FRS requirement every year until I reach 55.

from CPF website, my SA balance already exceeds FRS for 2024. Every year, the FRS increases a little for inflation. E.g. the FRS for 2025 is 3.4% increase compared to 2024. But SA interest rate is 4%, so as long as you already reach FRS amount for current year, you will be fine I think, even if you stopped working (i.e. SA stops having contribution)

Bought AU8U and A17U today

AU8U - bought 5000 units at $0.685

A17U - bought 1000 units at $2.67