How To Spend Your Year End Bonus ?

<This article first appeared in “Seedly” on 13th  Dec 2017, one of the leading social networks for investors who believe that anyone can achieve financial freedom with the right tools and the right mindset.  ( here ) >




 Time flies and we are at the end of 3rd Qtr 2017 with Thanks Giving just around the corner and follow by Christmas celebration. I guess most of the investors including me are happy with their investment returns in 2017 as STI is up by 15.2% YTD and if you are the lucky one who has invested in Banking, Electronic/ Chips Manufacturing stocks and few selected property counters, your returns should be much higher than STI. " Gong Xi-Gong Xi "


Well, most of the employee will also be receiving their Year-End Bonus in Dec or early Jan ( if you are not in the industries which is still struggling with “downsizing or right-sizing “ as below survey quoted. You may at least get something ….


  Singapore employees' year-end bonus averaged 1.45 months, nearly one-third received none: Survey

 Civil servants to get a year-end bonus of 0.5 month

I don’t have the chance to enjoy the “happiness & joys “ of getting year-end bonus since 2014 after leaving the corporate world, but I’m really happy for those receiving it and hope you may spend it wisely. Ops… did I say “WISELY “?

You may find many good articles online about how to spend your Bonus “Wisely “ or at least in a “Smart” way!


8 Smart Uses for a Year-End Bonus from Forbes.com

The 5 Best Ways to Spend Your Year-End Bonus in Singapore from SingSaver.com.sg

 

The 11 smartest things to do with your end-of-year bonus from Business Insider


image credit truthinaccounting.org



Depending on your goals and priority, you may just want to reduce your DEBT which is having higher interest rate e.g Credit Card Balance or Personal Loan etc… as a top priority, before talking about “Investing “. If you are in late-cycle of wealth accumulation, you may want to enhance your retirement planning by topping up your RA in CPF or buying a good annuity plan from the market.  CPF-Life payout may just enough for us to cover our basic expenses during retirement, a supplement income from annuities may form another type of predictable and consistent source of income after retirement. Find out more details as below…


3 Best Retirement Plans in Singapore That Can Provide Guaranteed Income After You Retire from SGMoneyMatters.com

Annuities as an Investment Option for Retirement Needs From Moneysense.gov.sg

 

 

Collect Moments Not Things


If you are getting a fat year-end bonus and have already set aside enough money for other expenses and saving, why not pamper yourself and make time for you and your loved one by planning a family outing (staycation ) or holidays.



As I blogged before, my lifestyle is simple and not chasing for any “luxury or branded items “. STE and Mrs like to go holidays which is our biggest yearly expenses, as I have shared some of the photos taken during our holidays ( here, here  ) and some of the other photos taken during our morning walk or Jalan-Jalan ( here )… some may find the places looks familiar !!

<Photo Sharing: Recent family trip to Hong Kong >




 





Last but not least, you may want to buy a few good investment books ( My Book List – here )to enhance your knowledge and skills of investing. Successful investing is not about how quick and high you can get on your ROI but is about the knowledge and skills  of the market & companies with discipline and patience.

Although I will not receive any year-end bonus but I’m really happy to see my in-coming 4th Qtr dividend, still counting the chickens before they hatch! J Check it out in my blog when I will have my update soon…

 

Cheers !!

 

P.S : Please find my latest “4th Qtr 2017  Portfolio and Dividend  Update “ here .


Quote Of The Day :


“The big money is not in the buying and selling … but in the waiting.” By Charlie Munger

 



Comments

  1. My Investment Machine4 December 2017 at 21:29

    Hi STE,

    the year end bonus for Civil Servants is 1 month instead of the 0.5 month which you have mentioned.

    you will not miss the year end bonus considering your dividends =)

    ReplyDelete
    Replies
    1. STE5 December 2017 at 07:15

      Hi , My Investment Machine,

      Thanks for pointing out ...yes! You are right , Civil Servant will get 1 month year end bonus and 2 months in total for 2017. Hope this may increase consumer spending during this holiday session and improve our GDP further.. 😃😃👏🏽👏🏽
      Cheers..


      http://www.salary.sg/2017/civil-servant-bonus-2017-year-end/

      Delete

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