Achievement unlocked! Mortgage loan cleared

Went HDB today, and wrote a cheque to redeem the loan. Probably should have done this earlier, given the interest rate HDB charges is higher than market rate. [Well, i can probably refinance at a cheaper rate too, but then at this point in time, i think being clear of a housing loan probably works better for me]

Gotten the flat in Sept 2007, and gotten it free and clear in December 2015.
8 years 3 months.

Even though bank account feels slightly emptier, but it's still a good feeling overall!

Lessons learnt from itchy fingers

As you may know i sell options as a means of generating some income, and i made just another mistake in the month of November.

I had a WETF open put position expiring in Dec with strike at 14.75, which is sitting for me a nice profit.

Since we are in the month of November, i thought it would be a good time to close off the position as it was way out of the money (WETF was at 20.75), and i can sell another put option nearer to the underlying's price to expire in the same month, and earn more.

Unfortunately, i closed off my position at USD 265.19, and i subsequently sold options for USD 209.83 (at strike of 16.75)

Now, this is a lose-lose situation for me - i lost USD54 on this trade simply by having itchy fingers. If i didn't do anything, the option would have just expired in December (presumably) and i would be better off by that 54 bucks.

Also, with my new position, the strike is actually higher at 16.75 (compared to 14.75). I run a higher risk of being exercised should the underlying drop in terms of price.

What can i learn from this?

Put in a limit order when closing off a position (i closed at market thinking that the price shouldn't fluctuate that much), or if the potential gains are not too much, don't have itchy fingers!

Adding positions

Just added another 10 lots of STI ETF 2 days ago (really having a hard time adjusting from the concept of 100 shares = 1 lot!). I think i have added 40 lots of STI ETF since July this year. Not sure whether this will be the right decision, but with so much fear in the market that it will drop further, i have taken the opportunity to add to my positions.

I have to confess, i am stressed and jittery over the past few months when i added. I wonder if i am just being foolhardy but i believe that in the long run, markets will go up, and time in the market is more important than timing the market.

The volatile situation allowed me to add more positions than in normal circumstances, and i shall look back to see if i will curse or thank myself in the future!

The handy man can

My house has been breaking down in bits and pieces recently. So the bulbs has been going off one by one. I'm not usually a very technical person (admittedly i was a technician in the Singapore Army), but the wires and stuff usually escapes me.

Hired a contractor to remove the mould and repainted the toilet ceiling. (it was really in a disastrous condition, like those dilapidated haunted house), so when the toilet lights went kaput, i got the handyman to do everything at 1 go. That costed me $280.

The bulbs in my ceiling was off too, and lazy me also asked for the price. Seems like changing the bulb cost me $30. I asked how it was to be done, and seems simple enough. I got myself a bulb at $4.60, and saved myself the labour cost and mark-up of the rest.

Moral of the story - get enough life skills to handle minor repairs in the house.

NB: I had a plumber come once to unchoke my toilet. THAT set me back by $120. Since then, i got a plunger and been a part time plumber for my house ever since.

Compare and Contrast - Insurance

The internet is really powerful nowadays.

Due to my upcoming trip to the UK, extending a few days after a business trip, i need to source for a travel insurance.

Etiqa had a 50% off promotion for travel insurance purchased directly from them, and it must have been one of the cheapest (if not cheapest) available.

Of course, there are differences between coverages etc, but overall, i think this is the best deal available.

Shopping around did save me a couple of dollars this time round!

[although the trip to the UK will likely blow off any savings available]

Missing the boat?

Went to Taiwan for a 2 weeks break. During the period there, the STI dropped quite significantly. I remember checking 1 day and saw that the STI ETF dropped close to $2.80. I was really quite tempted but held off from utilizing more of my war chest, thinking that the market might stay flat for 1 or 2 more weeks until i am back.

Surprisingly (or perhaps not), the market bounced up quite a lot in the last few days, and STI ETF is now over $3. The market is really a beauty pageant, and the votes are swinging widely at the moment, and i might have missed the boat this time round.

But, who knows it might crash again soon for people to pick up?

All i can console myself is, i added 10 lots (still not used to thinking of 100 shares as a lot!) when the price was at $2.91. Unfortunately, i also added when the price dipped from $3.50 to $3.30! So i think overall for this year, my ETFs are a little in the red. With the year coming to an end, let's see how it will fare.

Happy Birthday Singapore!!!

50 years of independence - and i am thankful that i am born and bred in Singapore. This is a land of opportunities, and though there are tougher times ahead, i think being in this country, it is easier to earn, save and invest for our future, than some other countries around the world.

*photocredits - Channelnewsasia

May we have more good times ahead!
Majulah Singapura! Onward Singapore!