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Lifestyle

Investment Courses

FinTech

What are the best SkillsFuture courses to take?
Lee John
Lee John
Level 7. Grand Master
Answered 5h ago
Depends on individual needs. Good to find one that can value add your curent skill sets and not one that seems more popular.

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Career

Education

Fresh Graduates

Lifestyle

Seedly

Do you think I should apply for this internship?
Yang Teng
Yang Teng
Top Contributor

Top Contributor (Aug)

Level 9. God of Wisdom
Answered 5h ago
I wouldn't. First, there isn't a company name to refer to on the google form or on the job posting. Second, the pay seems sketchy for flexible workdays and rather simple job scope (uni intern is about ~$700). Third, this seems to be those work for wealth planning/financial advisor roles which do not have a good reputation for interns.

1 comment

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Singlife Account

Singtel Dash EasyEarn

Elastiq

Savings

Investments

Lifestyle

Regarding products similar to Singlife?
Kenny Pang
Kenny Pang
Level 4. Prodigy
Answered 6h ago
Those 3 are the key ones. There's other cash management products you can consider. Seedly has a post on this - check it out here - https://blog.seedly.sg/cash-management-accounts-singapore

1 comment

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Lifestyle

Rent

Property

Savings

Rent vs Commute? Should I rent a more expensive room near my workplace or rent a cheaper room far from my workplace?
Kenny Pang
Kenny Pang
Level 4. Prodigy
Answered 13h ago
The latter for me. Singapore is tiny. As long as my commute doesn't exceed an hour, I can live with it. Money saved can be used for investments :)

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Savings

Family

Lifestyle

How to remotely open a join account in Singapore?
You can just apply for the joint account online through your ibanking portal! They would mail you the card in a few working days, very fast and simple :)

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Lifestyle

How do bloggers (e.g. financial bloggers, content creator etc) earn beside placing ads on their webpage?
The value of creating content does not come towards the creator first. Ad revenue does not hit significance until a tipping point, which in most cases, take a good 3 years of consistency. Depending on the type of content people make, monetization can be done broadly across 4 main categories: 1. Ad revenue - easy once you have eyeballs, but hard to achieve 2. Selling courses/products - If you have 1000 true fans who believe in your quest, you will get quite a stable income from this. 3. Patreon - a pretty good outlet for creatives who need support from fans to continue their work 4. Sponsorships and affiliates - not achievable until you hit the critical eyeball mass Like a startup, the value has to be focused on the consumer, once the creator hits critical mass and has a proven track record of eyeballs, companies would usually reach out to the creators for sponsorship deals. For the most part, ads are not the main source of income. If you have the eyeballs, the main source of income comes from opportunities outside the realm of the platform you are using. You will tend to start connecting with people who are in the same industry and be introduced to heavyweights. But this comes after very long-term consistency. Engaging a business manager or talent agency will usually reap such connections faster, which is why on platforms such as Instagram and youtube; where the focus is on personalities, huge stars engage business managers to run the operational aspects of the business while they focus on the creative. There were many creators who I followed closely had situations where they hit the success metrics but did not earn profit till much later (8 years of consistency). Some had to borrow money from banks to continue their work and passion. It's a business, so expect the success metrics to be applicable, if not worse considering the barrier to entry. Follow me here.

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Lifestyle

A bit irrelevant but do you guys think I should get a Class 3 license if I already have a Class 3A license?
RL
Rayner Lim
Level 3. Wonderkid
Answered 2d ago
Hi there. I suppose this would have to depend on your use case of manual vehicles. Do u see yrself wanting to drive a car on manual? Some may enjoy the feel of changing gears and feeling like a racer lol Do u see yrself needing to drive vans or small trucks? This will be a need for some jobs, and could possibly act as a backup plan when unfortunately retrenched Additionally, one consideration is that as Singapore intends to phase out ICE vehicles and transition to EVs, class 3 will soon become irrelevant (although the phase out period is 20 years so there’s still a far bit of time for usage) What’s good is that u prob are already familiar with driving and would just need to focus on learning to operate the clutch and shift gears Hope this has helped u to make an informed decision!

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CPF

CPF SA

Investments

Lifestyle

My dad,51 yo is a taxi driver as this are his CPF values: OA: 0 (emptied to pay for house) SA: 43k MA: 59k Are there any CPF strategies for him situation?
Dare to Finance
Dare to Finance
Level 3. Wonderkid
Answered 2d ago
Hello! In my opinion, there is no easy solution to this problem. It will be almost impossible for him to meet the Basic Retirement Sum (BRS) now. Although you could top up to his SA to meet the BRS but you would need a big sum of money. As far as I know, if he did not manage to meet the BRS, his payout would be pro-rated. Alternatively, you can help him to source for additional income streams so that it can help with his retirement. 1) Downgrade your house. It is not an easy option but have a chat with him. House isn't an asset if it doesn't generate income. By downgrading the house part of the $$ would be pumped back into the OA which can help him to meet the BRS. 2) Rent out one of the room. 3) Buy a annuity plan. An annuity plan is a special type of endowment that provide periodic payouts very much like CPFLife. Such plan would be of great help as it can provide guaranteed monthly payout once your father retired. (if you wish to learn more about this. Feel free to pm me.) Personally, my father is a similar situation as your father except he is 61 now, has no savings, and forced to retire due to parkinson disease. I'm a financial advisor (but im still in uni) and my brother is working now. So what we are doing now is to split the cost of my father retirement together. It is definitely not easy to be in the sandwich generation but let's us do our proper financial planning to break this cycle of relying the next generation for retirement =).

2 comments

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AMA The Woke Salaryman

Career

Lifestyle

What considerations should one take before deciding to work overseas?
He Ruiming
He Ruiming, Co-Founder at The Woke Salaryman
Level 6. Master
Answered 3d ago
Here are some that come to mind: Skills – Not all Singaporeans are attractive hires. Many parts of the world still view Westerners as superior. Cost-wise we also lose to out to many developing countries. Your skills here will set you apart. No skills, no overseas job for you. Network - If you intend to return to Singapore in the future, your network will probably be impacted. That's okay as you get to build a network elsewhere. Cost – You might be paid more in London, but will you be able to save more? It's possible to return home in poorer financial shape than before. Fit – Some Singaporeans thrive overseas as they're global citizens. Others shrivel up and die like the quiet mouse in the room. When you work overseas you'll have to behave like other expats. Assertive, confident and aggressive. If you can't do that, then you need to start learning. Benefits – Some companies will offer you attractive expat packages. Once again, dependent on skills.

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AMA The Woke Salaryman

Career

Family

Lifestyle

With a guy 5 years younger but he's very smart and is earning as much as me, I don't have a high salary. I feel insecure sometimes. Do you think this difference in earning power will be a problem?
He Ruiming
He Ruiming, Co-Founder at The Woke Salaryman
Level 6. Master
Answered 3d ago
This won't be a problem if both parties don't judge each other's value as partner by the amount they bring in. Money is important yes, but it should not be the ONLY thing the matters in a romantic relationship. I think you should have a conversation with your boyfriend about this.

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