Wednesday, November 30, 2011

Children - Delivery

Great, this is a not here not there post. What have I got myself into..

Anyway, for those first time or would be parents, if there is any admissions needed at night, if one is able to control, please do so after midnight. Any admission before midnight , there will be a full day room charges even though one may stay the first few hours inside the delivery ward. I had disputed on this cost before, the hospital claim that since I had already been admitted, they need to reserve the bed for me, in case my baby decided to make a fast exit. FYI, I was admitted to do induction on the hindsight of my gynae who either do not know how the hospital charge or pretend he did not know, but then again he is a good gynae, at 11.30pm. I do not know the history of the child birth timing of the hospital, but to go from 1cm dilation to 10cm and pop a baby within 30minutes, I really had no idea how it can be done.

For the hospital items, please bring home whatever is allow. The pack of baby diapers, sanitary pads are included inside the bill, please take home. If possible, try to ask for a few bottles of extra formula milk, so at least one can rush to the nearest NTUC or whatever shop to buy formula milk. For me, my babies drink the same formula milk as the hospital provide.

That should be all, as the final bill from the hospital will be send to home for additional payment if any to be made.

Monday, November 28, 2011

Children - Preparation for the arrival

This will be a quick post of what to buy.

Breast Pump - If one intend to breast feed for long, please consider buying the medela pump in style. It make the breastfeeding journey much easier as babies are unpredictable. If one is able to afford, at least buy a electric pump, using a manual pump is really NO JOKE, especially one need to pump at 3hours interval in order to establish the supply initially.

Clothings - Babies need new clothings. Or best if one is able to get hand me down as the first few months they grow so quickly. Do not buy newborn size, my children are born BIG, they do not fit in newborn size when they are newborn. Please buy those with buttons all the way down, newborns have very soft head and fragile neck, wearing clothes thru the head is a scary experience.

Baby carrier - Buy a good one. This is a neccessity if one is going out often. I bought an ERGO brand for my #2 which I used till she was too heavy to be carried. I believe the design of this carrier enhance the bonding between the carrier and the baby. My #2 is always found napping whenever we are out, which shows she is so comfortable.

Pram - Not really needed if one had a good carrier. It blocks the passageway, hard to get into crowded train, a hazard on escalator. But the main usage is when the child is unable to sit upright during mealtime out of the house.

Milk bottles - Do I have to say more? For a peace of mind, buy those that are BPA free.

Sterilizer - For milk bottles. Have those new microwave type, but for health reasons, I rather not use them, will stick to traditional steam type.

Wednesday, November 23, 2011

Insurance - Critical Illness Coverage

Had this living assurance policy that start in the year 1993. This policy under my Dad's name initially with me under the life assured. But I had transfer it to my own policy in 2010.

The coverage amount is relatively small, basic sum assured is only at 15k. A prenium of $28 is payable monthly for 74 years (WAH!!! I will be 87 by then) or until the death of life assured, if earlier, or until the life assured contracts a major illness as defined in Endorsement No. 51. Under my Endorsemen No. 51, it is still under 10 major illness. Gasp! Time to contact the advisor (the advisor who had sold us this product had quit back in 2003).

Looking at the quotation which the words had actually fade to a point, think it will be unreadable in another 5 years, and currently econnect from the Great Eastern life is under system maintainence, unable to check the cash value.

Total Prenium paid for 74 years will be 23898.30. Gasp! My prenium paid is more than sum assured!!!!

Will I be keeping this policy?
Of course! I had reviewed my whole life policy previously, my critical illness or living benefits only covers till age 64.

Saturday, November 19, 2011

Children - The beginning

After managing to stay together through thick and thin, children seem like the next milestone for some families. For those who do not wish to have any, I really envy you at this point of time. But according to Uncle CW8888, he holds different views.

Some woman do not get pregnant easily, or some may tried to follow some old wives myth counting the days to get the gender of kids they like. Nowadays, there are ovaluation strips. I do not know how they work. Basically the strip will react to certain chemicals in the urine to give positive results if one is ovaluating.

Not forgetting the pregnancy test kit. Most women will confirm using a couple of test kit to double confirm they are really pregnant before booking an appointment with the gynae.

Gynae do not comes cheap. Here is the cost for KK Hospital. This just cover the basic, vitamins and additional testing are charged extra. There are packages that are available for most gynae, which is deductable through the medishield, but take note, deducting this package charge from medishield may cause a more expensive bill when one actually delivered. If one choose to pay via cash for packages, the allowable deduction from medishield during delivery will be higher for pateints taking Ward A and B1. The difference between Ward B1 and B2 is huge, so if one intend to be under Ward B2, taking the package under medishield may not have vast difference in the cash portion of bill.

Edited: How can I forgot!!! Vitamins like folic acid during the first 3 months, calcium, Obamin (multi-vitamins) and the ULTRA expensive fish oil that is supposed to be good for the brain (FYI, this fish oil capsule is one of the most yucky I ever had eaten... and most breastfeeding mothers are actually encourage to take them throughout breastfeeding)

Maternity clothings. When women are pregnant, most start to shop for new clothings to make room for the expanding tummy. Maternity clothings are by far the most expensive clothing I had ever afford. Unless one start using pants extenders to continue wearing the pre-pregnancy bottoms.

The decision to having a baby do not come cheap. Will talk more about it later.
OT83, this post is not to encourage your decision of not having children. But a post to let you know about what costs are there if you ever decide to have one.

Clearing cobwebs

The frog came out to eat the spiders. Now clearing cobsweb.

Ok will continue writing. Had a wonderful break from writing.

Tuesday, October 11, 2011

Turning what next?

I am writing this post in view of myself turning 31.
Let me re-cap what I had done so far.
Started this personal finance journey after reading a couple of books, came to realise most personal finance book talk about similar stuff.

I get to know about this thing called Magic of compounding. It simply rule of 72, it justsimple lets say u have 1000, to make this amount double, just divide 72 by the interest rate (annum) to know how long it takes. For eg, 8% per annum will be 72/8 = 9 yrs. 4% will be 72/4 = 18 years for amount to be doubled, provided all interest are not taken out and left to compund.

I read from "The richest man in Babylon" the 7 golden rules ( I may write more about it later)
  1. Start your purse to fattening
  2. Control your expenditures
  3. Make your gold multiply
  4. Guard the treasures from loss
  5. Make of your dwelling a profitable investment
  6. Insure a future income
  7. Increase the ability to earn.
I started investing in the stock market and begin my journey as a 1-lotter, as I do not have too many eggs yet I want to diverse my investment.

Started to earn some dividends from stocks that I had owned.

Saw my portfolio decrease by 10% due to the recent volatile market.

Things I want to do for the following year:
If possible, try to increase my salary.
Try to invest more.
Learn to read annual reports, put those I learn to use.
Learn TA, if possible try to do charting to know when I should enter or exit the market
Save my dividends, currently I am eating them up.

Ok what else? I really quite clueless.
Everything starts with a small step.

Friday, October 7, 2011

Insurance - SO's Single premium ILP

Lets do a re-cap. To know about the difference between ILP. Please refer to this blogpost
For my SO's regular savings ILP, its here

SO had 3 single premium ILPs. 2 bought via CPF-OA the other via CPF-SA.

Lets start with the CPF-SA.
Total single premium invested: $5810.
Date started: 25 March 2004.
Fund portfolio: AIA Acorns of Asia Fund
Full sum assured for standard life: $9000
Surrender value as of 28 March 2011: $7XXX.
XIRR: 4.6%

Total single premium invested: $12000.
Date started: 25 March 2004.
Fund portfolio: AIA Acorns of Asia Fund
Full sum assured for standard life: $18000
Surrender value as of 28 March 2011: $16XXX.
XIRR: 4.6%

Total single premium invested: $22200.
Date started: 12 March 2005.
Fund portfolio: AXA Inspire
Surrender value as of 11 July 2011: $2XXXX.
XIRR: 4.7%
Currently, all 3 plans exceed the interest rate of CPF board.
I had plan to stop SO's CPF-OA plan only after 8 years, when this lump sum is enough to fully pay the housing loan from HDB which is 0.1% above prevailing CPF interest rate.