The Singaporean Overseas Crapbox 3
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Originally posted by lostintransition:
there are just too many stuffs out there calling out to us to open our wallets....it really takes a lot of discipline not to buy everything that catches our eyes.i find the cost of living in my area is kinda high....particularly for food and medical insurance. think my spouse's single income is just barely enough to cover all our expenses...and we really can't afford to eat out alot. not sure whether we can save much...and i'd really hate to dip into our savings back home.
although we singaporeans might have some not so desirable habits...i must say we are reasonably good at managing our finances (at least most singaporeans are)...and we will still try to save for the rainy days no matter how little we earn. some people might think we are "cheapo"...but at least we are not spending money that we don't even have.
i just found a great place to shop today. it's called Ocean State Job Lot. lots of stuffs going at quite low prices...if you aren't too fussy about brands/looks.
for those of you who have been overseas for awhile and most likely not returning to S'pore...have you withdrew your CPF monies?
It's not cheap living stateside. You gotta pay for every little thing. Have you looked at your phone bill? Good Lord, so many little fees! And how I detest tipping, even after all this time.
Question: Don't you have to be 55 to touch your CPF stash?
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Originally posted by jetta:
It's not cheap living stateside. You gotta pay for every little thing. Have you looked at your phone bill? Good Lord, so many little fees! And how I detest tipping, even after all this time.
Question: Don't you have to be 65 to touch your CPF stash?
cellphone bill? i'm using a prepaid phone...so very straightforward cost. haha...works well for me. $30 can last for 3 months....'cos new here, nobody to call...nobody calls me!
ya..tipping is hard...but good for practising my maths. 20% of $xx = ??
for CPF, you can withdraw upon reaching 55 after setting aside min sum (can pledge your property to make up part of min sum). and after 62 (or is it 65 now?)..you can start withdrawing from your min sum in regular monthly amounts. now that's this new annuity thingee...haven't really looked at it yet.
but if you renounce SG citizenship...can withdraw CPF in full. i just thought some of you have been staying overseas for so long...probably not going back to singapore ever...so might've given up citizenship already.
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Originally posted by jetta:
It's not cheap living stateside. You gotta pay for every little thing. Have you looked at your phone bill? Good Lord, so many little fees! And how I detest tipping, even after all this time.
Question: Don't you have to be 55 to touch your CPF stash?
i'm using ATT, and i dont have the family plan thing... so expensive! i hardly get any phone call, besides, its supposed to be free because most of us use ATT. Every month the stupid bill is close to a hundred bucks.
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Originally posted by lostintransition:
cellphone bill? i'm using a prepaid phone...so very straightforward cost. haha...works well for me. $30 can last for 3 months....'cos new here, nobody to call...nobody calls me!
ya..tipping is hard...but good for practising my maths. 20% of $xx = ??
for CPF, you can withdraw upon reaching 55 after setting aside min sum (can pledge your property to make up part of min sum). and after 62 (or is it 65 now?)..you can start withdrawing from your min sum in regular monthly amounts. now that's this new annuity thingee...haven't really looked at it yet.
but if you renounce SG citizenship...can withdraw CPF in full. i just thought some of you have been staying overseas for so long...probably not going back to singapore ever...so might've given up citizenship already.
I currently rely solely on my cellphone and Skype for my communication needs. I gave up my landline phone several years ago as I was tired of the phone company constantly finding excuses to raise my rates seemingly every month. My present cellphone service is with T-Mobile and I pay just a little over $30 per month for a basic package that includes 350 weekday and unlimited weekend minutes each month, with free roaming nationwide.
I don't have a lot of money tied up with the CPF as I came stateside immediately after NS. Even though I've taken up US citizenship, I haven't bothered to renounce my SG citizenship yet and can't withdraw the funds. One of these days, perhaps...
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i've a net10 phone which only cost me 20 bucks but came with 300min free. international calls are quite cheap with the net10 phone....i made quite a few intl calls when we first arrived..but these days, i also just use skype. so my 300min can actually last me for more than 3mths...but the min are only valid for 3 mths...so my unused min all go to waste. but for $30 in 3mths...i'm not complaining.
to get a regular cellphone plan...they need to run credit check which i don't have right now. i really have no idea how i'm going to establish any credit history given that i'm unable to apply for any credit card without a SSN. anyone in my shoes who's on spousal VISA and doesn't have SSN but managed to apply for credit card?
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Originally posted by Meia Gisborn:
I don't have a lot of money tied up with the CPF as I came stateside immediately after NS. Even though I've taken up US citizenship, I haven't bothered to renounce my SG citizenship yet and can't withdraw the funds. One of these days, perhaps...
can you do that??!! i mean...have dual citizenship?! i thot singapore doesn't allow that.
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Originally posted by lostintransition:
i've a net10 phone which only cost me 20 bucks but came with 300min free. international calls are quite cheap with the net10 phone....i made quite a few intl calls when we first arrived..but these days, i also just use skype. so my 300min can actually last me for more than 3mths...but the min are only valid for 3 mths...so my unused min all go to waste. but for $30 in 3mths...i'm not complaining.
to get a regular cellphone plan...they need to run credit check which i don't have right now. i really have no idea how i'm going to establish any credit history given that i'm unable to apply for any credit card without a SSN. anyone in my shoes who's on spousal VISA and doesn't have SSN but managed to apply for credit card?
Since establishing a credit history is about how responsible you are with money, bill paying, etc, try opening a US bank account solely in your name. Go with a credit union rather than a regular bank. Among other things, credit unions don't charge exhorbitant fees. After a few months or so, take out a loan and then pay it back immediately. Later down the road, try putting one of your utility bills in your name.
If you don't have a SSN, ask about an ITIN. This will help you file your taxes next April. I had an ITIN for years before I applied for a SSN. This also means that you cannot buy a house here until you've established credit. If you apply for a credit card without establishing credit history and a job, this may raise a red flag. JMHO.
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Originally posted by lostintransition:
can you do that??!! i mean...have dual citizenship?! i thot singapore doesn't allow that.
No, Sg doesn't allow that. MG's procrastinating.
I just wrote the CPF asking if there is any way I can withdraw my funds to buy a house here. I'm pretty sure they'll send me a "no you can't" reply.
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Originally posted by lovegoddes:
i'm using ATT, and i dont have the family plan thing... so expensive! i hardly get any phone call, besides, its supposed to be free because most of us use ATT. Every month the stupid bill is close to a hundred bucks.
My bill's about that much too.
I do have the AT$T family plan though, just for two of us. I have Tmobile for the kids and theirs come to about $60+. -
Originally posted by jetta:
No, Sg doesn't allow that. MG's procrastinating.
I just wrote the CPF asking if there is any way I can withdraw my funds to buy a house here. I'm pretty sure they'll send me a "no you can't" reply.
You have to gave up your citizenship in order to get the $ out.... -
Originally posted by lovegoddes:
i'm using ATT, and i dont have the family plan thing... so expensive! i hardly get any phone call, besides, its supposed to be free because most of us use ATT. Every month the stupid bill is close to a hundred bucks.
my ATT bill is 39.99 that has 200 text messaging and 300 minutes...I don't have Lan line so pure wiFiiMy internet is wifii so that top up another 60 bucks so plus tax and everything it come up to 114 a month for both.
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Originally posted by Arapahoe:
You have to gave up your citizenship in order to get the $ out....I know that. Since you can use your CPF to buy property in Sg, I just wanted to see if there is any way I can circumvent that to buy one here.
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Originally posted by jetta:
I know that. Since you can use your CPF to buy property in Sg, I just wanted to see if there is any way I can circumvent that to buy one here.
No way they will allow it:1. You are drawing $$$ out from SG and spent it else where
2. CPF = $$$ easy go in, cost you an arm a leg and your children to get a cent out
PS..... I have asked if I can use my CPF to fund my further education, they said nope, really freaking unreasonable.
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Originally posted by jetta:
Since establishing a credit history is about how responsible you are with money, bill paying, etc, try opening a US bank account solely in your name. Go with a credit union rather than a regular bank. Among other things, credit unions don't charge exhorbitant fees. After a few months or so, take out a loan and then pay it back immediately. Later down the road, try putting one of your utility bills in your name.
If you don't have a SSN, ask about an ITIN. This will help you file your taxes next April. I had an ITIN for years before I applied for a SSN. This also means that you cannot buy a house here until you've established credit. If you apply for a credit card without establishing credit history and a job, this may raise a red flag. JMHO.
i currently only have a joint account with my spouse...the bank has informed that they may have to strike my name off the joint account 'cos i don't have a SSN - i suppose to declare interest income? but anyway...i haven't heard from them since and my account is still active....so i've no idea wat's going on.
we tried to apply for a secured card with BOA but was rejected. now we are trying to apply at another bank...if also kenna rejected again, then we might just forget about the whole darn thing for now.
i was going to request for the ITIN but i'd require a letter from the bank to substantiate my request since the bank is the one asking for SSN/ITIN to file for interest income...it's been a couple of months since i've made a request to the bank and until now, the bank has yet to reply. they are damn inefficient here! i'm so not used to that.
say if we are not using any of those credit facilities i.e. balance transfer, cash advancements or are not taking up any loans....is it really that important to establish credit history? credit card is just for our convenience....i can still use my debit card anyway....
tried to open utility accounts with nstar, verizon...all rejected 'cos without SSN. wat's a credit union?
getting quite sick and tired of this credit history thingee.....it's like, if you don't gimme a credit card now...how on earth am i ever gonna establish the history that you are asking for?? it's stupid stupid stupid...
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Originally posted by jetta:
I know that. Since you can use your CPF to buy property in Sg, I just wanted to see if there is any way I can circumvent that to buy one here.
nah..there's no way around it!if you are not planning to withdraw it anytime soon....i've advise you to use your CPF to buy a flat back home and rent it out for rental income. HDB rental yield is actually very good
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my land line + FIOS tv + FIOS internet with verizon is about 120/month. but i think the promo price is only for 6mths...not sure how much it's gonna cost me after that =P prob an arm and a leg
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Originally posted by jetta:
No, Sg doesn't allow that. MG's procrastinating.
well...if procrastinating works....why not!!i wonder if MG declares his overseas income if any (i.e. bank interests, investments, CPF interests)?
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Originally posted by Meia Gisborn:
I'll be in Vegas 12/24 through 12/31. Any chance of meeting up there?
oh wow....MG....did u get a deal? i checked and the cost is like in the C$1k range during this period. most likely no. i actually found a C$700 deal during the week of dec 13. basket, then i was told to be in the office that week....brother!!!! i'll see how i can work around one. if i don't see u in vegas, have fun! ;-)
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Originally posted by jetta:
Buy new? If only I can get a hold of my CPF stash. Haiz. The house I'm buying was built in 1974. So you know how it goes - panelling (yuck), shag carpeting (yuck), etc, etc. There will be much to do but how I'll relish that!
How high is your power bill? I only turn on my heat when we need it, which is maybe 4 times a month and only a couple of hours each time? At least one of us is toasty. lol
These are strange and unusual times so the property market is red hot. Nothing stays on the market for long. I hope I'll like being a realtor.
As for Vegas, it's tempting. I didn't realise that it's a short 5 hour drive away.
oh wow....i tink i am missing something here. must have lost track. :oops:
we have 2 utility bills eh? 1 for gas and the other for power. gas is about over C$100 a month. power is billed once in 2 months. work out to about over C$100 a month too. and i ran the dishwasher quite often eh? to protect my hands...kekekeke.... hey, maybe u can take up the RE course? i tink u will make a good one.
wow....5 hours DRIVE for you and 5 hours FLIGHT for me. i don't know if i can squeeze one in december now. crap, i have to be in the office 'cos boss is out of town so i am playing back up. crap crap crap~~~~~
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Originally posted by lostintransition:
nah..there's no way around it!if you are not planning to withdraw it anytime soon....i've advise you to use your CPF to buy a flat back home and rent it out for rental income. HDB rental yield is actually very good
I just sold the flat I bought back in 95. Tired of home ownership in Sg. Besides, my life is here now.
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Originally posted by lostintransition:
i currently only have a joint account with my spouse...the bank has informed that they may have to strike my name off the joint account 'cos i don't have a SSN - i suppose to declare interest income? but anyway...i haven't heard from them since and my account is still active....so i've no idea wat's going on.
we tried to apply for a secured card with BOA but was rejected. now we are trying to apply at another bank...if also kenna rejected again, then we might just forget about the whole darn thing for now.
i was going to request for the ITIN but i'd require a letter from the bank to substantiate my request since the bank is the one asking for SSN/ITIN to file for interest income...it's been a couple of months since i've made a request to the bank and until now, the bank has yet to reply. they are damn inefficient here! i'm so not used to that.
say if we are not using any of those credit facilities i.e. balance transfer, cash advancements or are not taking up any loans....is it really that important to establish credit history? credit card is just for our convenience....i can still use my debit card anyway....
tried to open utility accounts with nstar, verizon...all rejected 'cos without SSN. wat's a credit union?
getting quite sick and tired of this credit history thingee.....it's like, if you don't gimme a credit card now...how on earth am i ever gonna establish the history that you are asking for?? it's stupid stupid stupid...
You should still request for a ITIN. You will need this come tax time so get one asap. With this ITIN, you'll find it easier to get things done. It's kinda like our NRIC. You will need this when applying for a job etc so it's imperative that you get established asap. Talk to the people at the SSA office in your area (Social Society Administration). Right now, in their eyes, you don't exist. Welcome to America. Things don't move fast here and I so detest that too. I walk fast, I talk fast, I work fast but I don't drive fast.
Seems like they operate on the opposite of me. Credit unions are banking institutions without the high fees. They serve a certain group of people that belong to an organization like say, govt workers, military, etc or area, say living in the city of Boston, San Diego, etc. Bring your passport when you go see them and see if they can help you or point you in the right direction?
Credit union
From Wikipedia, the free encyclopedia
A credit union is a cooperative financial institution that is owned and controlled by its members, and operated for the purpose of promoting thrift, providing credit at reasonable rates, and providing other financial services to its members.[1][2][3] Many credit unions exist to further community development[4] or sustainableinternational development on a local level.[5] Worldwide, credit union systems vary significantly in terms of total system assets and average institution asset size[6], ranging from volunteer operations with a handful of members to institutions with several billion dollars in assets and hundreds of thousands of members. Yet credit unions are typically smaller than banks; for example, the average U.S. credit union has $93 million in assets, while the average U.S. bank has $1.53 billion, as of 2007.[7]
The World Council of Credit Unions (WOCCU) defines credit unions as "not-for-profit cooperative institutions".[8] In practice however, legal arrangements vary by jurisdiction. For example in Canada credit unions are regulated as for-profit institutions, and view their mandate as earning a reasonable profit to enhance services to members and ensure stable growth.[9] This difference in viewpoints reflects credit unions' unusual organizational structure, which attempts to solve the principal-agent problem by ensuring that the owners and the users of the institution are the same people. In any case, credit unions generally cannot accept donations and must be able to prosper in a competitive market economy.
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Originally posted by jetta:
I just sold the flat I bought back in 95. Tired of home ownership in Sg. Besides, my life is here now.
ya..think you mentioned that before. but it's worthwhile to consider buying...esp if you aren't planning to withdraw your CPF till 55yrs. and you are allowed to rent out the flat since you are overseas....CPF-OA pays 2.5%pa (slightly more for first $20K)...you can easily get up to 5-6% pa return if you were to rent out your flat. and not to mention capital appreciation in the long run. HDB flat prices hold quite well actually...much better than private properties in singapore.
also, look at it this way...by doing so, you are actually slowly "withdrawing" from your CPF. if you can get SGD1,500 every month from rent, one year already SGD18,000...SGD180,000 in 10 years...all of these before you turn 55! that's the only way to "monetise" your CPF
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Originally posted by lostintransition:
well...if procrastinating works....why not!!i wonder if MG declares his overseas income if any (i.e. bank interests, investments, CPF interests)?
I have no bank accounts or investments in Singapore, and I doubt the IRS could be bothered about the few dollars of interest on my meagre CPF balance in Singapore. -
Originally posted by littlestream:
oh wow....MG....did u get a deal? i checked and the cost is like in the C$1k range during this period. most likely no. i actually found a C$700 deal during the week of dec 13. basket, then i was told to be in the office that week....brother!!!! i'll see how i can work around one. if i don't see u in vegas, have fun! ;-)
The all-inclusive price of the round-trip ticket between the Twin Cities and Vegas on Delta was a little over US$200. Kinda hard to pass up on a deal like that, especially when I'll be staying there for free.Are you planning on going anywhere else over the Christmas-New Year holiday?
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Originally posted by jetta:
I just sold the flat I bought back in 95. Tired of home ownership in Sg. Besides, my life is here now.
Then why don't you take the next logical step and get naturalized?
(Yeah, yeah, yeah... procrastination and all that...
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