[nono1973]

Originally Posted by retirebatam

This joint has a nice name and hopefully it lives up to its name..

True, it has a nice name that i didn't even know it has one, hehehe... (only when bro BFOMF5 said so, then i knew the name)

The name "blinded" me (especially when i stand too close to the door,hehehe...).

Originally Posted by retirebatam

So that area really lack of a booking joint since the previous two booking joints there had already closed for good.

Yes, i look forward to seeing a booking joint there.

I often have in mind that when heaven closes some doors, a window somewhere will often be opened.

Just like when i go walk around Utama Hotel/Pagoda Hotel area that time, i saw the word "Refleksi" & planned to walk in to get a foot massage. Then i realize that it is actually a booking joint, hehehe...

I was surprised by the 20+ girls of different age, body size & dress in it, hehehe...

Originally Posted by retirebatam

CIMB adjusted its fix deposit interest rate to 4.15% (minimum S$10000)

Thanks for sharing bro, 4.15% were for 18 months. Too long for me.

If i put my money inside today, need to wait until 2024 then i can go Batam for free, hehehe...i prefer a shorter term placement with higher interest rate.

POSB/DBS has one for 5 months at 3.8% (and another with a 3.5% for 3 months) but require a promo code. You may wish to google.

It is often advisable to spread out my own money to collect the interest on different parts of the month each year. Like the example of above. 3 months later, i get about S$175/3 months/3.5% (with S$20k). Then 5 months later, i get about S$316.60/5 months/3.8%, followed by UOB's S$384/6 months/3.85% etc etc.

By doing that, it may seems i am getting lesser. But the advantage is my money is not locked for a longer time and that i get to have some free money every month or every other month to subsidize my trips to Batam.

Note that i am only using S$20k's minimum placement. I can always add more if i wish to have more "free money" to subsidize my Batam trips in 2023.

Originally Posted by retirebatam

Nowadays, fix deposit interest rate is higher than cpf special account interest of 4% and in the near future it may rise further.

This is another reason why i choose not to get too much money locked up for a pro-long period of time.

Who knows, next year it goes up to 5% FD?

Up or down, i still get my money back. I just don't like all my "eggs" to be put inside one basket. Remember, small money adds up over time, hehehe...

Thats just me.

Originally Posted by retirebatam

Now cash is really king, not only it is an liquid asset, it helps you to earn good interest too..

I agree to this only for Singapore dollar,hehehe... imagine you are in Malaysia
& Indonesia using riggit & rupiah, you tell me cash is King...hehehe...

By the way, Malaysia & Indonesia interest rate is very high too, but well....you know what i am going to say, hence not going to elaborate further.

Originally Posted by retirebatam

Albert Einstein said that those who understand it, earn it and those who don't, will pay it.

In simple term, the principal amount earn interest. Then the interest of the principal earn another interest. The second interest in return earn the third interest, so on and so forth which leads to the compounding effect and the sum keep accumulating..

Loan shark concept, hehehe...just the other way around it.

Originally Posted by nitecrawllerr

Not forgetting very nearby New Berlian right of Formosa as we came out fm the lobby and old Berlian beside Queen 8933.

For nearly a decades, demands are there but wasn't as much until covid happens. Now got to wait and see where and when the new booking joints will turn up.

If you observe the booking joint's customer. They were pretty much different from those days. Not as many Malays and Chinese as before.

Originally Posted by Hurricane88

Please understand that what goes up will come down...the interest rates will not be high forever...

When the recession comes in next year...the Fed will start to cut rates...so we may be back to square one...

Definitely, whatever goes up will have to come down eventually. Hence meantime while it is still up, i will just keep things going & moving forward.

But i am not going to have my money tied on FD for a pro-long period of time.

Recession = Opportunity

Just like the last 2 years of covid, hehehe...

Originally Posted by Hurricane88

Whoever is placing large amount of money in FD will not be rich...cash is king but what is the point that cash $100 can buy alot last year but not alot this year...will buy less next few years...

Best is to make money using money and ROI at least 10% and above...not the interest rate of 4.x%...

A very good question, what can S$100 10 years ago buys me and what can S$100 buys me today.

10 years ago, i pay much more for the below item :

What can S$0.10 buys me today in Sillypore...

(this below item on my way to my new home in Singapore)

Above is what i often do in Batam, hehehe....

Oh wait, what happens if i am in Sillypore and need to spend in Singapore dollar.

my simple 10% discount (simpler version of ROI?)

Hehehe...above were illustrations of recession, inflation versus found opportunity. That is my reason why i visit Batam so often. I make S$ but spend most of what i made in Batam. When i need to use Singapore dollar in Singapore. I can also look out for my so called "Opportunity" which i find it difficult explain in words here, hehehe.... i use picture/photo to help.

Now i am working on trying to take back the money i paid to the booking girls in Batam, hehehe... i know this may sounds crazy to some tho (imagine the scenario of i pay the girl 1 juta for booking, she pays me back 500k rupiah, hehehe...).

As below.....

Originally Posted by nono1973

LKY said before, whatever spent must come from somewhere.

Still working on "whatever i spent in Batam, and have it comes from Batam itself", hehehe... so one day can go Batam for "free".

I don't have a big heart nor big ambition in life. I only look for the "basics".

Therefore....

Originally Posted by nono1973

One of my life's simple principle, don't lent, don't borrow.

Enough to get by can already, no need too much but can't be too little either.

I like simplicity.

Love the idea of "click click here, click click there" to make money.
(remember the anti-scam advertisement in Channel 8? i got the idea there)

"Basic" must-have(s) when going to Batam.

1. Ferry ticket to go.
2. Hotel room or a place to stay in.
3. Girls.
4. Food.

Enough said.