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AMA The Woke Salaryman

Lifestyle

Career

What do you think needs to change or stay the same in the working culture/companies to be attractive to employees, e.g. working hours, holiday entitlement etc? Thanks for your thoughts and input!?
Hi Anon, as part of the Gen Z (but one of the odd ones), I interned at the bank for compliance work. From my perspective, there are some ways in the past that still works & some that don't. Like what Augustine said, flexible working hours would be great as something we can be stressed out by coming to work early every day. Having courses/training provided by the company to broaden our skill set is also a great point as it allows us to adapt to other parts of the company better than without courses at all. Being able to talk to bosses on an even playing field is another great thing that can be included in the future as we can learn about how he succeeded on being at his position & what are some life lessons he can instil in the younger generation without the younger generation feeling the pressure of talking to a high ranking person. This is my personal opinion, hope this helps you. 😄😄
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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 6d 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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2

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?
MC
Megan Chong
Level 2. Rookie
Updated 1d ago
As HC Tang calculated : - difference in price would be $171.20/month - difference in time spent would be 30mins x2 (to and fro) x 5weekdays x 4weeks = 20hours/mth this makes 1hr = $8.56 In my honest opinion, you can put the extra 30mins into good use eg making breakfast & lunch with groceries or even leftovers so you won't have to spend money on lunch and likewise for dinner you can mealprep which is worth the extra $8.56 per working day. In addition, assuming you walk (also 20mins), the price difference would be $134.40/month, which makes 1hr = $6.72. As transport fares may increase over the years, walking in long term brings health benefits + saves money + don't have to worry about being stuck in a traffic jam/MRT breakdown as you can control your walking speed (aka you won't be late) And you can also choose to alternate some days walk, some days take transport which makes the range between $6.72-$8.56. TLDR; time is money, choose the $800 option if you are able to put your extra 1hr into good use.
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Savings

Fresh Graduates

Investments

Lifestyle

I'm a 26 y/o with 0 debt and 100k in my bank. I've been working 2 years and am drawing 3.7k. Currently my money's in DBS accounts, with >50k in Multiplier. Should I move it to SC Jumpstart?
S
Samuel
Level 4. Prodigy
Answered 8h ago
First off, congrats on hitting 100k! Check how much interest you are getting on DBS multiplier. If you are at the cap, move 20k into Jumpstart and 10k into Singlife. For investments, you can explore stashaway (fuss free, low effort, low minimum), Endowus (Higher miniumum amount but you get to invest into institutionalshare classes of active funds) or look to invest in an Index fund. Since you might we going back to school, suggest you keep aside a pool of money since you wont have income for when you are studying.
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Lifestyle

Career

Education

National Service (NS)

Gaming

Should I get multiple mobile devices?
J
Jaye
Top Contributor

Top Contributor (Aug)

Level 6. Master
Answered 10h ago
If you have the means, please go ahead! An idea for the work phones for me is, I do not just use it for employment work purposes but also for side hustles like small businesses and carousell. Just think of the cost benefit analysis and do it. Or, if you are unsure and would like to try this idea out at low to no cost, just go ahead first! You may never know if you end up loving this experience or finding out that having lesser devices are actually more optimal fore yourself. All the best!
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Savings

Lifestyle

DBS Multiplier Account

OCBC 360 Account

For those who use accounts like the DBS multiplier, do you create separate savings and expenses accounts? If you do how do you maximise savings?
S
Samuel
Level 4. Prodigy
Answered 16h ago
If you can, open a SCB Jumpstart account then use that as your "spending account". Eg. when your pay comes in, set up a standing order to transfer $x into the spending account immediately. Spend as you would on your DBS CC, then when its time to pay the bill, use the funds in your spending account to pay. In this way, you can treat your dbs acc as your savings account and use the scb jumpstart as your spending
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2

Investments

Dividends

Stocks Discussion

Retirement

Lifestyle

Is it possible to solely rely on dividends to retire?
Hi anon, I'm going to throw in an alternate view point here; while you can do so, doesn't mean that you should. Dividends are never guaranteed. Unless your dividends far outstrip your expenses (and I am looking at x2 or more), and you are just sitting on the unused portion, there will come a day when one or more of the following will happen - Dividends get cut (look at our banks now) - Dividends get suspended (HSBC is a prime example) - Dividends frequency gets reduced (look at REITs) - The company goes into decline and you lose capital - You physically go into decline (dementia, etc) and are unable to effectively manage your portfolio There's probably more depressing stuff than that, but I think you get the idea. So always make sure to have dividend income one of the many streams of income in your retirement. The allocation is really up to you, but I would want to ensure that guaranteed income from CPF LIFE and retirement plans form at least enough income (inflation adjusted as well) to ensure that my basic needs are met. Then the rest of my dividend income will be used to fund things like vacations, fine dining, etc. You'll realize that this is really up to what you envision in retirement, if you think you'll need $2K for the core expenses and $1K for a better standard of living, work towards having $2K/mth of guaranteed income and $1K a month (or more) of non-guaranteed income from dividends. At least if something goes wrong, you still have money to meet the basics.
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4

Investments

Savings

Lifestyle

Stocks Discussion

Personal Finance 101

How to start investing?
Lee John
Lee John
Level 7. Grand Master
Answered 2w ago
Read read read. There's tons of resouces online. From stock analysis to reading balance sheets. Read and understand till you are confident and sure about the company.
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2

Lifestyle

Investments

General

Shopping

What watch brand is considered a good investment? Automatic or Quartz more valuable? Thoughts on investing watches?
Tinexxxx
Tinexxxx
Level 6. Master
Updated 4w ago
Tbh... watches are not worth investing
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Forex (FX)

Investments

Retirement

Career

Lifestyle

Savings

Credit Cards

Online Brokerages

COVID-19

Forex Trading?
Lee John
Lee John
Level 7. Grand Master
Answered 1d ago
Advice: dont do it. People often get hyped about getting fast quick but one mistake and end up losing all. Build your wealth slow and steady with methods you properly understand.
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