Wednesday, December 28, 2016

Grinding to farm money

If you are familiar with computer games, you will know the terms "farmer" and "grind". Basically, you grind -- brainlessly and boringly kill mobs to earn gold coins -- coin by coin. After a few weeks or months, you accumulate enough gold to buy or upgrade equipment, so that you can fight high level mobs to earn more gold and so on and so forth. A person who continuously does that is sometimes called a farmer because he farms gold coins, and supposedly loses out on the story of the game play.

If you were associated as gold farmers in any game, I am going to guess that you can live with some grinding -- really really boring stuff of saving money every day, tracking expenses every month, ensuring you run a surplus every year, and forcing yourself to save if you forgot to save -- with your sheer will power silencing any procrastination that you have.

I was one such farmer, but I was more of a trader, where I buy goods low during weekdays and resell them higher during weekends when demand is higher, but I can grind.

What I grind:

  1. Record income and expense daily, monthly and yearly (14th year)
  2. Desk-bound job, email warrior, telephone mistress (11th year)
  3. CPF Special Account top-up -- transfer $7000 every year (2nd year)
  4. CPF OA to SA transfer -- transfer max to SA every year (3rd year)
  5. Medisave Account top-up for daughter -- $1000 every year (1st year)
  6. SRS contribution -- transfer max every year for 10 years (3rd year) $12750 previously, now $15300
  7. Monthly investment budget -- $3000 every month for 5 years (3rd year)
  8. Read a financial report -- at least 1 every month (3rd year)
  9. Learn french -- read french every week (2nd year)
Achievements:
  1. Next year Jan, after I make my last CPF Special Account top-up to claim $7k tax relief, I will reach the Minimum Sum or Full Retirement Sum (FRS). => I have 2 things less to grind... Phew. 
... but it will be replaced with 1 new grinding task: repay mortgage loan with OA balances until loan is cleared.

This is a very boring post about the boring tasks of a farmer.

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