s-reit

Trusts' resilience boosts Reit indexBetter than expected results from Reits for Q2, revised GDP forecasts lead investors to turn positive on outlookINVESTORS are heaving a sigh of relief - and putting some money back into the stock market - following better-than-expected results from some real estate investment trusts (Reits).
The FTSE ST Real Estate Investment Trusts Index has risen by almost 4 per cent on heavier trading volume since Reits started posting results a week ago. It closed at 494.82 yesterday.Generally, results released so far 'are either in line, if not slightly above' expectations, said DBS Vickers analyst Lock Mun Yee.Despite concerns about falling rents and occupancies in the office sector for instance, CapitaCommercial Trust (CCT) and K-Reit Asia have managed to post year-on-year increases in distributable income and distribution per unit (DPU) for their latest financial quarter.CCT's operating results exceeded the expectations of OCBC Investment Research analysts Meenal Kumar and Foo Sze Ming. It was 'able to achieve new rents 45 per cent higher than previously signed rents, despite the 17.5 per cent quarter-on-quarter decline in Grade A office rent in 2Q 2009'.
Some retail Reits also displayed resilience amid the recession. Frasers Centrepoint Trust, which manages a portfolio of suburban malls, achieved a slightly higher DPU for the last financial quarter compared with a year ago. And considering how the hospitality industry has been hit by the downturn and the spread of H1N1 flu, the year-on-year fall in Ascott Residence Trust's DPU in the latest quarter did not surprise many.
In fact, the market could have been comforted by the trust manager's observations - that the sector is showing signs of stabilisation. Ascott Reit's unit price has gained more than 9 per cent since results were released last Thursday morning.Of course, investors' outlook could have improved even before they got a glimpse of the Reits' results.
The government recently revised its GDP forecast upwards and stock markets have been enjoying a long rally. Ms Kumar and Mr Foo believe that 'the price performance is more a function of outlook rather than Q2 performance'. Looking back further, the FTSE ST Real Estate Investment Trusts Index breached the 400-point mark in as early as May, and has risen by more than 16 per cent since.While market forecasts have become rosier, a robust recovery has yet to take shape and investors could remain jumpy.Ms Kumar and Mr Foo advise investors to continue paying attention to Reits' balance sheets - the risk of falling asset values still exists and that could increase gearing levels. DBS Vickers' Ms Lock also said that Reits' operational strength will come into focus, as they try to maintain earnings under 'moderated economic conditions'.

曼联小子七月份报告

七月份报没有进行任何的买卖。

1：RICKMERS
持股：10，000股，平均价：新币0.395，今日闭市价：新币0.57，纸面盈利：新币1750.
今年所收到的股息：美元214.00。

2：FSL TRUST
持股：13，000股，平均价：新币0.471，今日闭市价：新币0.62，纸面盈利：新币1937。
即将收到的股息：美元318.50。
除权日：27-7-09，派息日：28-08-09（HLEBROKING大约会在九月尾才会收到钱）

备注：RICKMERS即将分布新一季的报告，预料将会继续派息。

注：曼联小子月份报告将会在没有公布季度报告的月份，呈上简单的报告。

曼联小子投资日记（23）：人生有多少个十年

柴九的这一句名言，相信大家都有听过，他几乎每半个小时都会喝一下这一句话，希望是为了吸引人家的注意吧。

我对这一句话想了很久很久，所得到的理解是：人生应该有三个十年。

第一个十年大约是在25-35之间，即从开始投入工作环境，不停的换工，再到结婚，生子等，这时刻的变化起伏很大。

另外一个十年是35-45之间，这时候孩子应该已经出世，工作也开始稳定，开始投入工作最打拼的时刻。

最后一个十年是45-55之间，即应该达到事业的最高峰，以及等待享清福，退休环游世界地时候。

这是非常典型的工作者模型，也许你会问，这与理财又有什么关系呢？

我认为要迈向财务自主，就必须好好的把握首个十年。只可惜，现在的年轻人都不会把握这一个时刻。这几十年里，大家都希望能够尽情的享受，不惜成为月光族，甚至还欠下许多的卡债，大事先用未来钱。

如果每一个初踏入社会者都能够善用这十年存钱，再接下来的日子里让彼此的母金通过“复利”成长的话，那达到财务自主的日子决不会只是一个梦想。

回头想想，我也已经快走完人生首个十年了，我也曾经是一个月光族，所以自认很了解月光族的心态。我相信只要大家都有决心的话，财务情况肯定会有所变化的大家都能够朝着正确的方向行走。

接下来的第二个十年，我希望通过达到财务自主，即我就开始提早，即在第三年十年里，开始环游世界，踏完世界的每一片土地。

定期玩现金流游戏---可以锻炼我们的财商

全球著名理财致富丛书作家—罗伯特.T.清崎（《富爸爸穷爸爸》的作者）所发明的一套理财教育游戏，被世界各地银行、保险公司、证券公司、基金公司、学校、跨国公司等机构作为业务拓展工具和理财内训教具。　流行东西方几十个国家，拥有十几个不同语言版本，改变了成千上万人的财富命运。

　　个人投资理财的MBA游戏。 对玩家一生的财务境遇做最接近现实的模拟，让您体验一生中的财务困惑和理财致富的不同阶段。 　

训练您理财致富的心态与思维方式，唤醒您的理财天赋－－财商。

　　玩家在游戏中会经历人生化的投资理财过程，并面对人生与市场带来的各种机会与得失，学会如何做出各种投资理财决策，让您真正掌握《富爸爸》致富的奥秘。
　　　　
　　玩游戏既广泛结交朋友，也令自己深思，并去评估自身的理财现状，根据自己的特点，调整投资理财行为，做好实现财富梦想的准备。
　　　　
　　现金流游戏模拟你一生的境遇，反映你在现实生活中对待金钱的态度、思维和行为。作为一种学习工具，游戏寓教于乐，游戏的过程非常愉快，同时又帮助你学习枯燥的金融财务知识，掌握金钱的运动规律，了解富人的思维方式，调整你的理财行为。
　　　　
　　掌控财富
　　　　
　　 很多朋友可能都听说过《富爸爸》系列丛书。 因为早在2001年该系列丛书刚刚由北京读书人集团引到国内来的时候，就已经在国内掀起了一股紫色旋风。即使没有读过，也肯定听说过。那么大家知道现金流游戏吗？读过《富爸爸》系列的读者对于它，一定再熟悉不过了------它是由“富爸爸”罗伯特·清崎先生在1996年发明的一款专门为非专业财务人员设计的投资理财类的教具。
　　　　
　　在这款游戏中，清崎先生先生将他在“财务自由之路”上的所有的理财心得融入游戏，以游戏的形式，使理财不再是枯燥的数字和曲线。游戏一推出就在美国产生了轰动效应。清崎先生为了使更多的玩家受益，更多的玩家能够真正理解其中的道理，随后发行了《富爸爸》系列丛书。
　
现金流游戏共有两个游戏圈，一个是我们耳熟能详的“老鼠赛跑”圈，另一个则是取得财务自由之人所在的快车道。这两种游戏圈其实代表了两种思维方式和两种生活。
　　　　
　　在没有实现财务自由前，我们都是老鼠赛跑圈里的老鼠，为了头顶那一块奶酪，不断的奔跑却永远也得不到，梦想就在眼前，却又始终是可望而不可及。我们一直在努力，却似乎总是停留在原点。我们在游戏中都是在老鼠赛跑圈里周而复始，期盼公司发薪的日子，为加薪而发誓更努力的工作；把每个月的开支计划得很好，但却总是有意想不到的开销；踌躇满志的时候的却遭遇公司裁员，失业依然还有房子车子孩子需要供需要养；这就是在老鼠赛跑圈里的无奈。我们的眼里只有头顶的奶酪，为什么不把眼光放开，好好将月现金流（总收入－总支出）用在小生意/大买卖上，让金钱开始为你赚取非工资收入呢？直到非工资收入大于了总支出，那么资产拥有者就可以跳出老鼠赛跑圈进入快车道。就是现实生活中从E雇员象限走入B企业拥有者/或者I投资人象限。
　　　　
“行动者总会击败不行动者”。投资者需了解市场、风险及产品结构运作，从而正确地骋驰于投资世界里。通过玩此游戏，玩家会学到基本理财技巧及投资工具的结构和运作。
　　　　
　　现金流游戏还包含了许多与金钱相关的人生内容，比如朋友。“你身边最亲密的六个朋友收入的平均值就是你的大概收入”。如果你已经决定行动，不妨找一个做过你想做的事的人，想它请教一些诀窍和技巧。我们希望通过游戏帮助大家尽可能的改善财务状况，走入“快车道”。

　　在快车道的人们是已经取得了财务自由的人，他们已经脱离了靠工资维持生活的思维方式，因为他们的收入主要是靠他们创造的资产带来的，他们的经济生活方式只是不断地创造更多的资产。他们的资产和系统为他们在利用OPT（他人时间）和OPM（他人金钱）赚钱。

一个人想“老鼠赛跑”还是乘快车道飞奔首先是自己的选择，现金流游戏提醒我们每一个人都可以进入快车道，但首先你必须打破固有的思维模式，对自己忠诚，不断地创造自己的资产。当被动收入超过总支出时，我们就是实现了财务自由。

在游戏中玩家最应该注意的是怎么样平衡大买卖和小生意的比率。小生意一般只能够增加现金收入，但是金钱不能使你富有，手中即使有再多的现金也有花光的一天。只有资产才能使他的拥有者富有并最终跳出老鼠赛跑圈。所以千万不可以忽视小生意，盲目的做大买卖，只能是使自己拥有一堆的负债，一旦失业后果就是灾难性的。
　　
当然投资眼光同样是最主要的一环，同样的生意对于中产阶级是资产对于一些收入较低的家庭就是负债，前往不能因为其可观的现金流收入而孤注一掷。资产是把钱放进你的口袋的东西，而负债就是把钱从你口袋里拿走的东西。真正的投资是在你购买时就产生现金流收入，购买的资产当时不能产生收入而是等他升值，这是投机不是投资。
　　　　
在玩游戏之前，你有对你的财务状况做过详细的分类和计划吗？
　　　　
　　游戏中无时无刻不在提醒告诉玩家：要重视手中每笔现金的流向。在资产和梦想面前，千万不要向穷爸爸一样断言“我买不起”，而是要学习到富爸爸的思维“我怎样才能买得起？”
　　　　
　　现金流游戏最大的功能在于让你看清金钱及金钱的规律，当游戏开始时，我们都得到了不同数量的纸币，用生活必须支出后的前参与金钱的游戏。而它不能让你富有，再多的现金也不能使你进入富人状态，顶多只能让他的主人做个“贫穷的富人”，时刻担心钱花光的那一天到到来。而且因为没有资产，当然也就没有资产给你带来的金钱，所有的收入全部来自于你的工资，一旦不工作就会变得一无所有。
　　　　
　　而真正的富裕是动态的，是现金流源源不断地流入口袋。改善你的生活从关注财商开始。最后，值得一提的是现金流游戏已成为现今最受欢迎，最有效用的理财教育工具。在国内，由很多不同的培训公司、商业机构，甚至清华、北大的高级专业课程，也用上了现金流游戏，你还等什么呢？


曼联小子的话：
如果你问我曾玩过多少次的现金流？我可以说是N次，因为我已经忘了玩了多少次。

曾有一段时间，我一天玩好几次电脑片的现金流游戏，几乎从早玩到晚。如此投入这个游戏，最大的原因是希望加强我对“被动收入”及“现金流”这两个理财基本概念的了解及留下最深记得的印象。

我相信，只要每个月都有增加本身的被动收入，减低本身的债务，总有一天必定能够达到财务自主的理相境界的。

我更希望能够在四十岁生日那天，达到这一个理想境界。

shipping trust

FIRST Ship Lease Trust (FSLT) may have set the wheels of an inevitable slide in the fortunes of the shipping trusts for the rest of the year in motion with its downward revision of distribution per unit (DPU) on Tuesday.

The other two SGX-listed shipping trusts, Pacific Shipping Trust (PST) and Rickmers Maritime, are due to report their second quarter results today and in early August respectively. The outlook for the shipping sector in general and the shipping trusts specifically has been deteriorating over the past quarter.

FSLT cited a change in policy to repay more debt faster as the reason for reducing its DPU from the third quarter onwards. Both FSLT and Rickmers have been hit by loan-to-value covenant breaches in recent months.

FSLT is planning to use around half of its free cash flows to prepay loans, which should ease its woes with the banks. 'We understand this new guidance is driven by discussions with lenders. We expect loan-to-value covenant concerns to become a non-issue once these discussions conclude,' said OCBC Investment Research in a report released yesterday.

Analysts seem to be looking more kindly at FSLT in the wake of its new policy. 'A consolation - in our opinion, this is finally a realistic number,' added OCBC in its report where it rerated FSLT to a buy from a hold with a fair value of 76 cents.

OCBC went on to explain that 'right since we initiated coverage over a year ago, we have been saying the trust's aggressive payout was unsustainable'.

'With this new approach, FSLT now looks more like a viable long-term investment vehicle for serious shipping trust investors,' it concluded.

Rickmers is the next trust likely to face similar issues, and may even be in a slightly worse position because it has new vessel deliveries with unsecured financing coming due. 'Funding risks are high with a US$130 million facility due next year as well as unfinanced capital expenditure of US$712 million,' said DnB NOR.

SIAS Research, however, offered some hope for Rickmers by suggesting that Rickmers' sponsor Rickmers Group will provide support with either financing or helping to negotiate postponement of the deliveries.

OCBC, however, was not as benign. In an earlier report it said: 'We think the Q2 DPU decision may be driven by conflicting forces: it may make sense to cut or freeze distributions entirely to save cash to fund obligations and to appease lenders. But the cash saved is small relative to what is needed.'

Against this backdrop, PST looks the most stable relatively. The trust's sponsor is locally-owned container line Pacific International Lines and it has no loans coming due in the next five years. It has also fully financed all its vessels and has no committed capex in the near future. The trust has a very conservative acquisition policy that should put it in a good position in the troubled times ahead.

什么是被动收入

什么是被动收入？如何打造自己的被动收入？

-------------------------------
1. 99%的人都犯的致命性的错误
-------------------------------


财务自由度是家庭理财中一项很重要的指标，其公式是：


————————————————
被动性收入（即非工资收入）/日常消费支出。
————————————————

财务自由度越大，说明你对工资的依赖程度越小。


那么什么是“被动收入”呢？

当然你会说是投资收入，其实这个说法并不完全正确。

其实主动性的劳动和消费行为也能够产生被动收入


-------------------------------
被动收入是指“睡觉时也能赚钱”
-------------------------------

99%的人会给你这样的答案。


真的是这样吗？你也是这样认为的吗？

如果你也是这样理解“被动收入”的话，

那么，你很可能一辈子也实现不了真正的“被动收入”。

为什么这样说呢？ 因为这句话忽视了一个重大的前提：“钱从何来”


比如你投资基金或股票，要真正想得到被动收入，

一是来自于它的净值（或交易价格）的上升，

二是具有稳定的分红收益。

因此它必须要有一个前提，

那就是基金公司和基金经理的工作（选择组合的能力）能够给你创造财富，

或着你对所投资的公司非常了解，值得你信赖，确定它每年肯定会给投资者带来回报。

否则你的投资不但不会给你带来财富，反而会带来风险侵蚀你的财富。


那财富到底是什么？


财富来源于分工及价值交换。

所以，“钱”作为一种价值符号，

它衡量的不是“纸币”的多少，

而是“你给别人创造了多少价值”。


“财富”不是“金钱”；



“财富”是指：你为他人创造了多少价值

《思考致富》之所以不断出版，仅仅是因为他们有“版税”保护吗？

不是，而是因为这本书鼓舞了一代又一代的人，追求成功与幸福、追求自由与财富。



“加里的广告文案”以其独特的思维、强大的说服力。

帮助商家年复一年地销售产品，年复一年地赚钱。

所以，其“被动收入”是必然的。

人们之所以愿意掏钱，

是因为你为人们创造了价值、给人们带来了好处、帮助人们解决了问题，



于是人们给你钱，做为回报。

所以，“钱”是你给人们创造“价值”的衡量计。

所以，“钱”本质上是“利他”的产物。


如果不考虑“利他”因素；而仅从“自利”的角度，

一切围绕“自己的财富”打转，

其结果，当然是“毁灭了公理与正义”、“毁灭了财富的根基”、“毁灭了人性”。


因此，你必须彻底忘掉那个忽视“利他”前提的定义——

否则，你就很容易失去基本的判断力，

很容易被网上的各种各样的“网赚陷阱”、“传销骗局”所蛊惑。

请你一定要记住真正的“被动收入”的定义，让他来指明未来的方向

真正的“被动收入”应该是指：


---------------------------------------------------------
你的劳动、你的投资、你的消费，睡觉时也能为人们创造财富的价值。
--------------------------------------------------------


因此千万记住：“被动收入”真正含义是：能够为人们创造财富的收入


(原文）

FSLT cuts distributions to reduce debt

FIRST Ship Lease Trust (FSLT) has cut its guidance for future payouts to unitholders to retain cash for repaying its debts, the latest sign of the pressure faced by shipping trusts here.

It will pay US$12.7 million, or 2.45 US cents per unit, for the second quarter, down from 2.8 US cents a year earlier and unchanged from the first quarter of this year.

That represents 74 per cent, or nearly three-quarters of the trust's US$17.1 million net cash from operations for the three months to end-June. The remaining cash was used mainly to reduce its debts.

From the third quarter, however, it expects to pay out just 1.5 US cents per unit, or about half its free cash flow - the cash generated from operations, less any capital spending. The retained cash will be used to pay down its debt voluntarily to achieve 'a more balanced capital structure', it said.

FSLT's share price fell yesterday after the announcement, ending 4.3 per cent lower at 66 cents.

Philip Clausius, chief executive of FSLT's trustee-manager, said that 'all our lease contracts continue to perform as expected' despite the difficulties faced by the shipping industry worldwide.

'Notwithstanding the very challenging market conditions, our broadly diversified lease portfolio remains robust and we expect it to continue generating stable cash flows.'

Its lease revenue rose 20.2 per cent to US$24.8 million in the three months to end-June, compared to a year earlier. FSLT said that none of its lessees has tried to renegotiate lease terms and that all lease rentals have been received promptly, including the rentals for this month.

The distribution reinvestment scheme, which gives unitholders the choice of receiving their distributions in the form of new units instead of cash, will not apply to the second-quarter payout, FSLT said. In the first quarter, the scheme saved the trust US$3.8 million in cash, which FSLT said would be used mainly to reduce its debt.

When FSLT listed here in March 2007, it had no debt. After listing, however, it funded a rapid expansion of its fleet by taking on more than US$500 million in bank debt to add 10 vessels to its initial fleet of 13. When the financial crisis struck last year, FSLT and Rickmers Maritime, another Singapore-listed shipping trust with substantial debt funding, were hit by higher interest costs as lenders invoked market disruption clauses and a plunge in demand for ship charters.

In October, FSLT cut its guidance for fourth-quarter distributions to 3.08 US cents per unit from 3.11 US cents due to the higher interest expense. In January, it said it would stop its policy of paying out all its distributable cash each quarter and instead use some of the cash to pay off its debt.

Since the start of this year, FSLT has been reducing its debt voluntarily, though it still has a large amount left. At the end of June, FSLT had US$501 million in secured bank loans outstanding, compared with US$513 million at the end of last year.

But FSLT stressed that all its vessels are fully financed and that it has no need to refinance any loans until 2012.

Mr Clausius said FSLT would continue to reduce its total debt and talk to lenders regularly to avoid any potential breaches of loan-to-value covenants that could be triggered by a fall in the value of vessels.

通过预审

刚刚检查2009年大马中文部落客祭的提名情况，发现“曼联小子投资基金”已经通过预审，感觉很高开一下。

这是我第一次参与部落格参赛，能够通过预审已经很开心了。

2009 部落格祭

正式报名这一项比赛，希望所有的网友都能够热烈响应，我参与的组别是“最佳商業應用部落格”。

FSL Trust 首航融资信托分钱了

最新消息：
首航融资信托宣布第二季的股息：
每股2.45美分，我有１３，０００股，可获３１８.５０美元，或RM１１１４.７５。

第一次获得此股的钱，希望以后每三个月可拿一次。（之前都是每季分钱的）

新加坡房产信托的财务报告

FSL-OCBC

HOLD on covenants and counterparties


Watch for DPU guidance next week. FSL Trust (FSLT) will announce 2Q results next week on 21 Jul. We do not expect any big earnings surprises, and accordingly our attention will be on DPU. The trust had previously guided for 2Q distributions of 2.45 US cents per unit. Two key pieces of information to look out for: 1) whether the distribution reinvestment scheme (DRS) will apply this quarter; and 2) guidance for 3Q DPU. FSLT changed its '100% payout' model in 1Q09, by scaling back payout and instituting the DRS. We have previously noted that the relative success of the DRS in the last quarter may protect the trust's distribution payout ratio from further cuts.

Pre-paying loans may not be enough. Of course, this depends on the trust's lenders reaction to FSLT's attempts to voluntary prepay loans. Last quarter, a total of US$7.8m (roughly 46% of 1Q cash earnings) was earmarked to voluntarily prepay debt. US$3.8m stemmed from DRS proceeds, while US$4m was from retained cash earnings. We note that this amount is still small compared both to total loans and to our expectations of the quantum of the decline in vessel values.

Possibly seeking covenant waivers. We estimate that FSLT's next vessel valuation will be in the Oct/Nov period (but lenders can call for a revaluation at any time). We believe the question here is not really if the loan-to-value (LTV) covenant has been breached but the tolerance level of lenders to such a breach. Peer Rickmers Maritime [SELL, fair value: S$0.39] had previously announced it is negotiating for LTV covenant waivers with its lenders, while US peers such as Danaos [NOT RATED] and Global Ship Lease [NR] have recently announced successful grants/extensions of such waivers. We expect FSLT to also negotiate for the same - in our opinion, it should be able to secure such waivers but our concern is with pricing. A possible cost structure could be a combination of one-time fees along with higher interest margins over the waiver period.

Covenants and counterparties. We have a NEUTRAL view on the shipping trust sector. We like FSLT's diversification but the shipping industry is undeniably facing tough times. As such, our concerns on covenants and counterparty health remain unchanged. Securing an LTV covenant waiver could be an important next step for FSLT. Maintain HOLD with S$0.58 fair value estimate. This values FSLT at a 30% discount to our 'normal' case discounted FCFE value of S$0.83 (10% discount rate).

RICKMERS-OCBC

Between a rock and a hard place


Between a rock and a hard place. We have a NEUTRAL rating on the shipping trust sector, which faces falling asset values and counterparty concerns driven by a weak shipping market. These broader issues are compounded for Rickmers Maritime (RMT) because of its high leverage (2.2x debt-to-equity as of 31-March) and sizeable contracted acquisitions that were committed to during the better days. To recap, our concerns include: 1) loan-to-value covenants on existing loans; 2) loan-to-value requirements that affect RMT's ability to draw down committed loan facilities for the US$207m Hanjin acquisitions due in 2H09; 3) a need to repay up to US$154m in loans next year (our estimate); 4) no arranged financing for the US$711.6m in contracted acquisitions due next year; and 5) the likely redelivery of a vessel in February 2010 that could impact cash flows.

2Q DPU and its implications. At 2Q results, our focus will be on a possible update on ongoing negotiations for waivers on loan-to-value covenants; as well as the distribution amount declared for the quarter. RMT, which does not provide distribution guidance, paid out 2.14 US cents per unit in 1Q09. Coincidentally, this was the floor amount mandated under a subordination structure that expired 01 Apr. We think the 2Q DPU decision may be driven by conflicting forces: it may make sense to cut or freeze distributions entirely to save cash to fund obligations and to appease lenders. But the cash saved is small relative to what is needed. Cutting distributions could also hurt any potential equity-raising efforts, rather than help.

Don't expect quick resolutions. Aside from the two aforementioned data points, we would be genuinely (positively) surprised if RMT is able to provide clarity on the larger issues. Our concern is that RMT is already unsustainably geared as it is; and the committed acquisitions leverage up the risk. Additionally, there is no clear roadmap of what the best solution is in this case: ideally the 2010 Maersk vessels worth US$711.6m would just "disappear" - but that may not be possible. And if an equity issue is required, unitholders will have to ask themselves if they want to fund purchases fixed at boom-time prices. With the high level of risk and no clear path out of the woods, we think it is prudent to maintain our SELL call. The recent price increase impacts the equity issue assumptions underlying our valuation. Our fair value estimate consequently increases to S$0.39 from S$0.29 previously.

曼联小子投资日记（22）：需要多少时间来证明效果

虽然说“谋事在人，成事在天”，所有的策划都需要时间来证实其成效，那大家认为需要多少的时间来证明所有的基金是否能够达到我所预期的效果，即提供我所需要的被动收入呢？

目前，所有的被动收入都是以相关公司在2008年所派发的股息作为研究基楚，因此在未来的日子里，我需要多少的时间来证明相关公司是否能够继续派发同样数目，或更多，或已经无法达到类似的成绩了呢？

这个问题我想了很久，最终所得到的结论是：三年。

如果有关的公司能够在未来三年继续派发同等数目或更多的股息的话，那我将会把它归类为达到目标的股项，如果无法达到的话，即需要检讨看是否要将之出售或加额来达到目标。

因此，我会以2010年作为开始，即从2010年到2012年之间，了解相关公司的股息派发率对我来说就显得非常重要。我想，此部落格将会成为最佳的检讨工具，所有的检讨工作都会在部落客内完成，以了解相关的进展及成绩。

希望我所有策划的基金都能够依时间表所有彼此的工作，让我能够早日达到财务自主，拥有我退休时所需要的被动收入，以及环游世界的梦想。

曼联小子投资日记（21）：价差与股息

买股是为了什么，是赚价差？还是股息？

这是很多股友们一直面对的问题，因为在市场上经常都有听到，某某某买了某支股，一转手就赚了好几万令吉等等的消息，却很少听到某某某赚了好几万令吉股息的消息。所以，身边很多好友，都认定买股是为了赚价差，不是股息。

只是，对我来说，买股是为了赚股息。那为何我又选择在低股价的时刻才购买呢？

这一个问题不难回答，那是因为我个人的“子弹”非常有限，我只是一个普通的上班族，同时也背着不少的债务，每月能够拿来投资的资金非常有限，所以我希望能够以最佳的价格来买高息股，只要相关的公司业务不受影响，每年的派息照常派发的话，我想我是不会轻易买股的。

那当初为何你又卖完大马的高息股？

那是因为我开始发现到新加坡一些高息股所派发的股息比大马多上两、三倍，所以我就转移基地，前往新加坡投资。

以我所投资的RICKMERS为例，目前已经收到一次的股息，与当初购买价相比，却已经是高达7巴仙的DY，别忘了过去这一支股每一季都会派息，由此可见其股息是多么的高。

我认为，我并没有多大的本事进行投机活动，所以我选择了稳定的投资活动，关注身边的高息股，让这些股每年所派发的股息来加强我的被动收入，最终实现财务自主的目标。

我知道，这是一条很闷的道路，同时也没有任何剌激可言，不过我同时也相信，这是目前我唯一能够实现财务自主之路。

新加坡•安盛保險亞洲市場調查人民對生活最沒信心

（新加坡訊）安盛保險（AXA Life Insurance）於今年8月對亞洲8個市場的富裕大眾展開“生活信心指數”調查，發現新加坡人對生活最沒有信心，對退休生活特別擔憂。

有趣的是，新加坡人為退休生活做的準備最多，卻不足以掃除擔憂，情況相當矛盾。

新加坡的生活信心指數只有59.2，雖然只略遜於鄰國大馬和印尼，卻比平均數的71.6低許多，遠遠落在印度和菲律賓之後。

AXA首席市場行銷與策略人員安妮特金表示，她並不對新加坡的調查結果感到驚訝，認為新加坡人的教育程度普遍比較高，留意新聞時事，對財務管理比較有概念，很自然地會對事物感到擔憂，是典型的“知道得多，也擔憂得多”現象。

安妮特金指出，新加坡人對生活比較不樂觀並不完全是壞事，因為這表示同本區域其他國家地區的人民相比，新加坡人對未來會有更好的規劃及準備，對未來也會有比較實際的期望。

這項調查分為事業、退休生活、家庭和健康4部份，受調查者必須回答各部份的不同問題，從中計算出生活信心指數。

59%獅城人為退休做計劃

59%的新加坡受調查者有在為退休生活做計劃，比例只落在香港的64%之後。數據顯示，一些新加坡人早至34歲就開始進行這方面的規劃，比本區域的平均39歲早很多。

保險業的數據顯示，新加坡人平均購買3份保單，在本區域是最多的。不過，新加坡人明顯仍對自己的退休生活規劃沒信心。

這次調查就顯示，新加坡人雖然希望能在57歲退休，但認為實際上要62歲才能退休。這個5歲差距是8個受調查國家地區中最大的。

對事業滿意程度包尾

此外，新加坡人對自己事業的滿意程度，同樣也包尾。

在生活信心指數關於“事業”的項目下，新加坡人針對“事業滿意程度”這個問題，只打了6.1分，比印度的8.5分和菲律賓的8分差了一大截。

調查發現，在富裕大眾當中，女性普遍比男性對自己的事業更滿意。以男性而言，40歲到50歲的人會較滿意自己的事業，情況比25歲到39歲的人來得好。

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曼联小子的话：

这是2007年的一则报导，今天的网络上再次看到，觉得很有意义。原来为退休做最多准备工作者，却是最担扰本身的退休问题者。

难怪见到许多身边过一天算一天，甚至还使用未来钱者，从来都不会担心本身的退休问题，也许对他们来说退休是还很远的事情，甚至认为不会有这一天的到来。

我已经在一年前，全力为本身的退休计划尽最大的努力来落实，同时也尽最大的可能增加本身的“被动收入”，让我能够过一个安详的晚年，不必担心本身的财务问题。

我相信，只要肯努力，每一个人都能够过一个财务自主的晚年。