First post for 2015

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Hi all,

Its more than three-and-a-half months since my last posts. How time flies!!! It has been a very brisk 2015 and time passed by so fast.

Anyway, back to the main topic and time to review the plans I had in mind for 2015, which I think is too ambitious!

1. Refinance housing mortgage
I have signed the contract to refinance my existing mortgage with another bank and the new loan will start from Aug 2015 onward. The new installment amount will be higher than my current loan because the loan duration is shortened after the new guidelines. My current loan is a 30-year loan while the new loan is a 25-year loan.

There were some hiccups because I was misinformed by my existing financier on the dates which I can redeem my current loan because I was given legal subsidy.  Its a long story, but in the end, I was able to justify that I was misinformed with email evidence.

There are a few learning points that I learnt from this episode. First of all, be very clear on all the dates which you can transfer or redeem your housing loan and how the interest rate of your housing loan is pegged (eg 3-mth SIBOR, 6-mth SIBOR, etc). The redemption date of your existing loan is pretty dependent on this as this when they set the interest rate when the lock-in period ends for fixed-rate loans. Secondly, it seems weird to me that the lawyers, existing financier and new financier cannot talk to each other. In the end, I have to act as a messenger to all of them. However, this may be the price to pay for lower interest rates and savings. Ultimately, I am happy that my interest payments is lowered!

2. Equity investment analysis framework
This was a bit too ambitious and I have read a few investment books since the beginning of the year. They are ” Common Stocks and Uncommon Profits and Other Writings” by Philip A. Fisher and “The Little Book of Big Dividends” by Charles B. Carlson. I am currently midway through “The Five Rules for Successful Stock Investing” by Pat Dorsey.

I personally feel that “The Five Rules for Successful Stock Investing” by Pat Dorsey is one of the best books I have read so far because its very practical in terms of how you can apply the techniques and action upon.
3. Deciding on how to best allocate fund for child/children’s savings
4. Personal financial planning guide
I am going to postpone these two action items beyond this year and focus on number action item 2!

Above is a quick update on my plans thus far. I hope my next update won’t be another 3.5 months time. Topics I have in mind for my next post could be US stock markets or about Supplementary Retirement Scheme (SRS).


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