Sunday, June 9, 2024

i am team cashback as a mile-llionaire

i saw the podcast with milelion and sethisfy

disclaimer: i have millions of miles

yes, millions


you can slowly work backwards to calculate what has been my credit card spending

i actually disagree with milelion and think that sethisfy is logically correct, but logistically wrong with his argument

btw i love milelion and i am a faithful reader

seth's solution of "multiplayer" using partner and family members to sign up for additional cards to increase your cashback cap is so.... low-class LOL and probably against T&C and intended use, but the biggest drawback is that the cashback amount is always capped and so low

(read my post about being limitless )

miles card have a higher spending cap since there are so many miles cards that you can overflow your various spending into, to constantly hit 4 mpd

is managing the point validity and redemption chunks of miles across various banks and cards (some points dont pool) really that much easier than the typically more restrictive spending categories for cashback? i think, slightly only

i do not use 4mpd cards, because i am too lazy to care about tracking my spending

small brain problem, but it is okay, i compensate by just being rich

milelion's only good point is that life is short, so you should enjoy it. to fly biz class is a novel experience, and if it within your means, should be something you try at least once, and i agree

seth also argees, and i think his point that if after that, biz class is your new baseline, then it is indeed setting yourself up for unhappiness and financial failure through lifestyle inflation

(LOL at them calling budget babe middle class babe instead)

if you know that after flying biz class, you will never want to fly economy again, is that not admission that after your first biz class flight, you have now permanently upsized your cost of travel? 

the most important point that was not conveyed well is that cashback is cash that can be used for anything and it is typically upfront

while miles are restricted to travel flights, subject to potential expiry and devaluation, and NOT EVERYONE LIKES TO TRAVEL

personally, i am team cashback

but because i travel so often and i was going to buy biz class tickets with cash anyway, i might as well use miles to drastically lower my cost of flying

possible future follow up post about my thinking about miles in future blog

for people not into traveling, you are probably better off with cashback

tracking spending categories and limits and merchant mcc and all that nonsense is WORK to me

if you dont mind doing WORK in exchange for money (miles), then you should go ahead and optimize

if you prefer not to care so much and live life with less stress, simple high cap / uncapped cashback cards

examples are dcs 2% up to 10k or any of the general spend 1.4-1.6mpd cash or straight 1.5/1.6% cashback cards

Saturday, May 25, 2024

mr 1m65 doesnt know it yet but he loves bitcoin


LMAO this video is super funny


mr loo is such a entrenched hypocrite


this is what happens when you think you are so smart


all his arguments for gold are arguments for bitcoin

"very good run road asset"

"take 1 kilo gold bar can put 4 in your pocket, very good asset for transportation"


tell me you dont know about capital controls without telling me you dont know about capital controls

people in the crypto community often say

once you try storing, transporting and selling your precious metals, you will convert to crypto 

there was a time when 1 btc was 1 oz of gold
now 1 btc is 29 oz of gold

there was a time when 1 eth was 1/10 oz of gold
now 1 eth is 1.6 oz of gold

and its only going to go up from here 

the trend for crypto adoption is one of the easiest game theory outcomes that anyone can simulate

and it is happening is slowly and over so many years 

but so many people miss it because they do not think for themselves

they outsource their thinking to other people and just reguritate their market opinions

"warren buffet says it is a scam, so it is a scam"

all i can say is, having fun staying poor?


mr 1m65 will never talk positively about crypto because he missed out millions by shitting on it as a scam for years and years


and now he posts videos talking about retiring in malaysia




there is nothing wrong with retiring somewhere else and enjoying geographical arbitrage for a lower cost of living

but that is what poor people need to do


rich people do not migrate to cheaper countries to get a better deal

the same way rich people do not buy imitation fake luxury goods because it is cheaper

the same way rich people do not take budget or economy because wa can save so much money

all rich families choose migrate to singapore with their millions and their family and live a high quality of life, very aware about the high price tag

you want value? then ya, malaysia is good "value"

if your goal is to have a lot of money in the bank when you die, malaysia boleh

you have money and you want to spend it to live well and happily? dont kid yourself brother loo, why you think all the rich millionaires and billionaires come to singapore instead of malaysia? the roti cenai is better here?

if you're so smart, you must be very rich

and if you're so rich, you would choose to live in malaysia over singapore? LOL said no rich person ever

as crypto becomes more mainstream, hardliners that are religiously against crypto like mr loo and many of the ultra conservative boomers and financiers will either bend the knee or live in denial until their death

Thursday, April 18, 2024

BEST Places To Park Your Money In Singapore 2024? You are all wrong

came back just so say that sinkie finfluenzas are really pathetic

kelvin learns investing

i watch many different sinkie yewtube finfluenzas talk about this every other month to get easy views, once some banks change rates

they all are wrong

the end game high level answer is wise interest

it is a "bank account" that *can invest all your cash into money market funds

but since it works like a bank account, there is no liquidity downtime

the catch here is that wise charges a 0.25% fee on top of the mmf fund manager fee, but is it worth it?

you get cash-like liquidity with mmf like returns, i think the answer is very obvious

you might think that wise has a balance limit, which is correct, if you hold plain cash only

if you opt in for interests, your balance becomes unlimited

i hold 6 digits in wise

i said "bank account" because its not really a bank account. it is not covered under SDIC and it is only a MPI, rather than a bank, by MAS classification

dont waste your time with all the different bank accounts with limits and gimmicks, unless they are things you already do and just fits into your workflow


i share this wise lobang because i think innovative companies like this deserve to earn from your balances more than other institutions

but its probably the best solution that you've never heard of

it is a bit disgusting how finfluenzas dont talk about this

they only know how to talk about things with affiliate codes

if you want something with minimal fees / max returns and don't mind a bit of liquidity downtime, any of the cash managemenet accounts by any of the brokers that just dump into money market funds can work

if you want to lock up your cash for long term, you are stupid

the point of cash is liquidity, and if you give up liquidity, you are an idiot

fixed deposits and tbills are for financially illiterate people


do not look for better instruments with zero drawdowns

become a better investor that is okay with drawdowns


a famous person once said

life is all risk, and then you die

Thursday, April 11, 2024

blogging semi retirement

i am old and suffering from burn out

on reflection, my points are all about the same one

dont hold non US stocks

dont hold currency that isnt USD

cryptocurrencies are not currencies, so hold bitcoin is ok

investing is small part the investment, large part the investor

passive income is a drug that will make you feel good but keep you poor

i will make posts to the blog less

it was a good run for the past few months

i dont know how the mentors i look up to can do this for years and years lol

Tuesday, April 9, 2024

tracking my passive income

i read this blog post 

so i went to find my "passive income"

bank account interests + money market funds = $10,000 per month

zero REITs

zero dividend stocks

zero investment linked insurance

zero t-bills

no count CPF

no options selling

work backwords, i think you can make educated guess the cash base amount

it is not that i humji want to hold cash

but liquidity is important when all other positions are maximum risk

my most sincere advice is not fall for passive income mindset


if you have access to a lot of liquidity on demand, you do not need to match inflow and outflow

you can, if you want to

but i am here to remind you, that you do NOT need to


when this light bulb can flick on for you

you will become a much more profitable investor

some people will see $10K a month and go "wa, like that can retire"

but those same people will never have what it takes to build up to a base that can provide $10K a month

my expenses are way more than $10K a month

what do i spend my money on?

enjoying life

no point spending all your time and effort earning money

but also not using the money to truly enjoy life

if your goal is to die with a big net worth, i wish you all the best

my goal is to die happy and fulfilled

money is just a tool to help me achieve that, and a fun game to play since i am so good at it

Sunday, April 7, 2024

do you know which 4mpd credit card elon musk uses

did you know

elon musk got to where he is by optimizing his spending on 4mpd credit cards and maximizing interest rates on bank accounts, brokerage and credit card sign up promotions?

saw a finfluenza talk about tracking expenses and credit card spending

thought to myself, how do i track my expenses?

do i use a budget tracking app?

do i use excel or google sheets?

do i use my own custom notes app?

actually, i dont even track my expenses

i only do 2 things

1. skim through my credit card statement for any weird charges

(99% of the time it is because the parent company name is different from the "store" name)

2. make sure that the linked bank account has enough balance to auto deduct

i used to religiously track my expenses. i later realized it is MEANINGLESS

if you are a proper functioning adult it just gives yourself wayang pointless work

you FEEL like you are improving your situation since you are doing something

but actually, this is just digging holes and filling it back up

your monthly breakdown of starbucks expenses goes from $123.45 to $234.56 between months

okay, now you know, then what?

no starbucks?

cai png only?

congratulations, welcome to my blog

the extreme case it helps is to discover stupid spending habits

you track your monthly expenses and suddenly discover you spent $10k last month at siam diu

but the solution is not tracking your expenses better

the solution is fixing your stupidity

i want to bring this up cos this is a widespread mental illness in asia

you can "save" to prevent yourself from being broke

but you cannot "save" and become rich

you can save and become comfortably poor

but you will never be truly financially rich

(you can always be rich in other things, like happiness and relationships etc etc etc)

after doing very basic common sense things regarding expense management

the real solution to money problems is to make more money

who do you know that has "save" themselves into being financially rich?

the answer is nobody

if you think you know somebody, you are wrong. they are just comfortably poor, not rich

every financially rich person has an abundance mindset and works on domain expansion

they are not afraid to invest and spend money on things that will bring them greater utility

yes, they can scrub the toilet themselves and save money

or they can spend money and outsource this menial labor and do better things with their time

so yes, elon musk got to where he is by optimizing his spending on 4mpd credit cards and maximizing interest rates on bank accounts, brokerage and credit card sign up promotions

he spends using his UOB lady card (first $2000), DBS womans world (first $1500), HSBC revolution ($1000) and of course the amaze + Citi rewards combo ($1000)

of course, he checks the MCC before spending and since he tracks everything, he puts excess spending on his general spending card

if you want to be rich like him, i strongly suggest you to do the same

Wednesday, April 3, 2024

the CORRECT way to think about MMFs

turtle wrote a good piece

most important is the table of the returns distribution

2.6% of the time the fund loses money

12.4% of the time the fund is flat

85% of the time the fund is up

what are savings accounts at banks?

it is the bank accepting the above returns distribution

paying you a fixed % because you are humji

and pocketing the difference as their profit

or if you are a fancy pro investor

net interest margin

most retail bank products are basically this

you want a 1 year FD with a bank?

DBS offers 3.2%, because 1 year SGS is 3.45%

you want a 6 mth FD with a bank?

ICBC offers 3.35%
RHB and SCB 3.2%
UOB and OCBC 2.9%

why? because 6 mth SGS is 3.75%

check yourself

actually, bad examples because FDs are stupid and banks suck

but just an example to show that ppl okay with volatility can sell stability to suckers at a profit

there is nothing wrong to want stability

just know that you WILL pay $$$$$ for it

maybe embrace that life is not a straight up only line

it is unnatural and weird to be a straight up only line

you do not need investments that go up in a straight line

you just need to be a better investor that is not humji when prices go down temporarily