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Fresh Graduates

Young adults out into the working world

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Fresh Graduates

Stocks Investing

How should a fresh grad start investing? Just started FT for 4 months - recently opened CDP, applied credit card, built up emergency funds, now what?
Regard on what now portion, I'd recommend getting your insurance settled. Critical Illness (CI), Life Insurance (unforeseen death), Personal Accident and Hospitalisation (Integrated Plans on top of Medishield). If you really want to skip on insurance, please at least get a cheap life insurance policy. Recently lost a dear friend (28), life is unexpected. Id recommend at least 6mo the of emergency funds. I personally prefer 1yr. Regarding investing, you don't need to link your cdp to fsmone and tiger brokers as it is a custodian broker. If you want, you can try TD Ameritrade for free US trading. But account opening takes some time. I'm using fsmone atm. But some might argue that tiger brokers is better due to cheaper fees. You can consider robos too, im looking at syfe equity100 atm. This is my sharing and not financial advice. Hope this helps.

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Fresh Graduates

Family

Savings

Salary

How much money do I give to my parents if they're not good with money?
Clear their debts and stop them from getting more debt. Since your parents should be of some age, I recommend not to bother with life + CI insurance. Too expensive. You may want to check if they have a hospitalisation plan. My dad also did not like me to probe into all these $$ matters but I was so annoying and stubborn that he gave up. I told him to hand over all the account statements.

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Insurance

Personal Accident Insurance

Fresh Graduates

How important is getting personal accident insurance for a fresh grad trainee?
Depending on the nature of your job. If it's a desk job, then PA is not essential. Consider getting a hospitalisation plan first. Then, if you have dependents or liabilities, consider term life insurance (with CI rider) and disability income insurance.

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Stocks Investing

Undergraduate

Fresh Graduates

Investments

I am a graduating student in university with no debts currently and even after graduation in around 9 months. I have 50k SGD in SG stocks and about 4k SGD in Singlife, should I invest in stocks or?
I'm a uni student too, but only on my second year. But the first thing I'd do is to get my insurance settled once I get a job. Critical Illness, Life Insurance (unexpected death), personal accident, IP plans for Hospitalisation (as a plan on top of medisave). Personal accident and IP plans are relatively affordable, less than 150/yr for each. Basing on low coverage as I'm young. Life insurance is slightly more expensive, depending on how much you want to cover yourself. This is impt. Recently lost a dear friend who is 28. Life is unexpected. CI will take up the bulk, a few thousand/yr. Make sure you have cash to pay the yearly fee up front! You'll get a bit of rebates for that. Nothing if you are paying the company monthly. Cuz more cash upfront means they can invest more. Once you start working, make sure you have an emergency fund. I've seen ppl recommending 3-6months of salary. My goal is 1 year to be safe. On top of this, some disposable income for a house/marriage if you're intending to. Can't give advice on how to budget cuz I'm not there yet. But I'm sure you can find the answer to this online. Atm for investing, you can try DCA into ETFs using RSPs or go into robos (syfe equity100). Unless you're good at picking stocks then go ahead. Imo, I don't see the value of SG stocks. They don't have the growth potential like US stocks. SG stocks tend to hit a value and hover there and pay out dividends, for example our STI ETF. It hovers arnd 3+ precovid. Id choose the US market as capital gains will always beat dividends. Unless I'm older, have more capital, ill buy into safe SG reits for dividends. Cuz atm, I have 2k in capitaland and 2k in ESR reit. The dividends doesn't feel shiok enough. So I'm planning adjust my portfolio, to sell my reits and buy into robos or US stocks. Hope this helps! This is my sharing and not financial advice.

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Fresh Graduates

Insurance

Financial Planners

Career

How much commission do insurance agents roughly earn from selling policies?
Hey there! You can simply ask any agent the commission rate and they will be obliged to tell you truthfully. Either way, the only way to know if the strategies you employ in insuring yourself is sound is if you consult objective platforms and you can find them on finance blogs or even pop your questions here. There are generic strategies employed that works across the board for people for different life stage/age groups. What sort of coverage, how much coverage will depend on your needs then. Financial planning is an integral part of life. You can reach me here to find out more.

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Lifestyle

Fresh Graduates

Family

Personal Finance 101

Entertainment

Was wondering how much do adults spend for recreational activities or hobbies on a monthly basis. These include gym, music classes, art classes, martial arts, jamming classes, gaming subscriptions etc.?
First let me say that I find some comments here are for one upmanship without contributing to the discussion. "My investing hobby is better cuz it makes me money" "I don't have hobby so money saved." Not all hobbies or recreational activities need to have a financial return or financial value to give them meaning. From your post it seems you've done due consideration of the $$ spent on hobbies relative to your income, and if you're comfortable with it, go on and enjoy without the guilt that you're "wasting money". Seedly being a personal finance forum, opinions here may be more one dimensional, and understandably so. So I hope to contribute an alternative viewpoint.

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Lifestyle

Fresh Graduates

Career

COVID-19

Moving forward with this new norm, is 100% WFH more beneficial or should there still be an alternate work arrangements between home and office?
Casey

Casey

Level 5. Genius

Answered 3d ago

It really depends, and very much so on the nature of work and personal preferences tbh. For me, I miss the office banters and the frequent impromptu discussions/brainstorm sessions where people just bounce off ideas and give constructive critics on each other's work.

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Insurance

Life Insurance

Health Insurance

Fresh Graduates

Family

As the sole breadwinner of the family, how can I ensure minimum insurance coverage for myself, given that I have a pre-existing condition that excludes me from most term life and health insurance?
Hi there, I'm sorry to hear about your plight. Exclusions will be rather common for someone with an incidence of mental condition. I've applied life insurance for people with depression before. It's typically a 25-50% loading with exclusions. Some of the ways to go about it includes dialing down your coverage if the loading is a stretch for you. You can try waiting for a few years but thats no guarantee that the underwriting will change either. At every point, having some coverage is better than none. Your other options is to get plans that cater specifically for critical illnesses if CI is your concern, and then add on life plans subsequently. They are generally cheaper and will be easier for underwriting to go through since the underwriting is more simplified (lesser questions asked). You can also opt for an accident plan to start with since it has no underwriting required. Do seek the advice of a licensed advisor to explore your options. All the best! Financial planning is an integral part of life. You can reach me here to find out more.

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Fresh Graduates

Career

How do you gain experience when companies are not hiring you to actually get that experience? Will online courses boost my employability?
Simplest I find is to volunteer and get yourself involved with community activities. From there you can get a tonne of valuable experience, connections and references. You also get to meet and get used to interacting with people that'll consequently boost your interviewing skills - especially when you have a lot of sutff to brag about!

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Fresh Graduates

Career

What would you do if you're asked for reference contacts during job application, but don't have a good one to give?
Ask ur colleagues. FYP lecturer. Just leave blank. Is just HR check. If the interviwer want you, u dont give, HR will oso let it pass most of the time.

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