The truth is here! All good things will finally end! No more year end bonus for Uncle8888. A new life journey without earned income, yearly bonus and income tax has finally begin its new year on 1 Jan 2017. Read? Your year-end bonus is here!
But for me it is a different question - What to do with my last year bonus? After experiencing my first pay-cut and zero bonus during 1997/1998 Asian financial crisis, and thereafter I have decided upon on this strategy - keeping the full current year-end bonus as reserve and spending last year bonus till the next bonus. In this way, I may not under-spend my money and to avoid spending away future money and I will be in better position to face the next pay-cut and zero bonus scenarios if it happens. Firstly, part of last year-end bonus is reserved to pay income tax. LOL!
I am 61 yrs old uncle living in HDB heartland who has achieved financial independence @ 56 and retired @ 60 from full-time job as employee.
Single household income since 1995 with three children. Eldest son and daughter are now working and youngest son still in his 2nd year uni in SUTD.
I have been doing long-term investing and short-term trading in Singapore stock market only since Jan 2000 so I am that Panda or Koala in the investment world; but I am still surviving well in the wild.
I am now executing my Three Taps solution model to maintain sustainable retirement income for life till 2038.
Last updated: 3 Sep 2017
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