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Retirement

Making sure you have enough for the later years

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Robo-Advisors

Retirement

Is it worthwhile to invest long term (20-30years) via roboinvest platforms since the fees incurred are recurring?
Depends on whether you are willing and able to invest yourself through a brokerage. If you are not sure how and/or not willing to spend the time, then you can choose to stick with roboadvisors. Personally, I would invest with roboadvisors till I have accumulated a critically large sum (e.g. $100k) where it will then be worthwhile transferring over to a brokerage.
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Stocks Discussion

Retirement

Lifestyle

Why Are Many Singaporeans Still Poor – Despite Working Hard And Saving Diligently?

You either make money work for you, or you will work for money your whole life

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Retirement

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Lifestyle

SeedlySOS

Hi everyone. I'm 33 years old this year, I would wish to retire around 50 years old with $1.5 million, is it too ambitious? My monthly income is close to $5K and I can save half of my take home.?
Me same situation as you. But i choose to DIY. - US stock (1 lump sum) + SG stock (dividend) (DCA) I treat US stock as fix deposit. I invest 80 - 85% of my salary To retire , 1) u need to calculate ur monthly expense. 2) Assume 4% (conservative) from dividend I calculate for my case when reach 50yr old will have sufficient dividend to live comfortably. (Without selling US stock) U may also need to buy some insurance. As u dont want to sell ur investment when something happen.
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Investments

Stocks Discussion

Retirement

Dividends

NYSE (New York Stock Exchange)

If you are a growth US stocks investor, how do you plan to pivot/change when it comes to the retirement stage? Sell and buy dividend stocks for regular payout?
- some will slowly sell away to finance retirement - some will progressively switch to dividend stock - some will switch to bond for coupon I prefer no.2 ... (i dont like bond. Juz personal preference)
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Retirement

Savings

Property

LGBT person here. Any financial tips? (i.e housing, children etc)?
Lee John

Lee John

Level 8. Wizard

Answered 14h ago

The main concern would probably be workplace (if you come out) and/or children. I dont think there is any financial bloggers in SG who openly express they are in the LGBT community. Perhaps you can look at this list of financial bloggers (not SG based) and reference from there https://debtfreeguys.com/lgbtq-personal-finance-bloggers/
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Retirement

FIRE Movement

What are your plans if the worst impacts of Climate Change are realized?
When that happens I don't think the amount of money you have then is important. So....probably pick up survival skills and/or say my last prayers when shit hits the fan.
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Healthcare

Health Insurance

Retirement

Savings

Endowment Plans

What do you guys think of setting aside 25% of salary to pay for premiums for a total of 11 policies for protection (health-related insurance), retirement planning and savings (endowment)?
D

Deedee

Level 5. Genius

Answered 1d ago

Hi anon, Generally you shouldn't be spending >10% of salary to pay for insurance protection (shield, PA, Life CI, term death/TPD), unless you were faced with loading or bought the policies at a later age (like me haha). I would park savings(endowment) as a separate component of my salary, together with my investments (after setting aside my emergency funds). This for me is already about 35% (10% + 25%) as I personally feel I start late and my husband to be keeps delaying his investments so I hope that these together will be able to support him a little bit should he one day run out of his savings later on in life. Actually my endowment and investments are considered my retirement plans as my endowment lasts to till age 100, with option to put my future kid to get the payout upon maturity, assuming my investments can last me from retirement till death. If not I will happily withdraw from my endowment haha. Actually I'm curious what your retirement planning is hmm.. If it's through ILP, better to reduce coverage to 0 and just pump all money to investments if you do not want to terminate due to loss incurred. Anyway yup as you can see, mine is about 20~25% for my insurance protection + savings. It's a bit heavy but I don't want to say bye bye to my endowment =x Unless you have a breakdown of your policies, others may not be able to help you access if you have sufficient/overlapping coverage and if you're dedicating too much such that you end up investing less. Rule of thumb from what I've seen : 10x Annual Income for death / TPD 5x Annual Income for CI with/without 2-3x Annual Income for ECI Or, minimally $350k since LIA states ~$31x000 may be required for full treatment of CI Or you could always try to reach out to any advisors on seedly to do a financial review. It sure will help you in your perspective taking to help you evaluate your plans better :)
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Savings

Retirement

SeedlySOS

Investments

CPF

My retiring parents have lump sum 60k, what capital guaranteed investment can they make?
Hi anon, You might want to look at short term endowments that will launch in limited tranches every few months. These are capital guaranteed if held to maturity. Such plans will typically lock the money in over 3 years but give a reasonable (considering the interest rate environment now) return of around 2% p.a. on the entire sum. They are single premium plans so that solves the issue of not wishing to pay yearly premiums. They can consider splitting up the amount into 3 tranches of $20K each and putting one batch a year. This way, you will always have a plan maturing every year, which (if you don't need the money) you can 'roll' again in whatever plan is available in future.
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SeedlySOS

CPF

Retirement

Which careshield life supplement policy is best for a 30-year old individual who has no intention of marrying or having kids in the future?
Hello Anon, Thanks for the question. It is very timely as I just pushed out this article today. https://blog.seedly.sg/careshield-life-supplements-comparison From your profile, I would think that you would have more cash at hand and would not have any dependants in the future. But on the flip side, you might not have someone to take care of you in the unfortunate event that you suffer from a disability in the future. This is why the coverage is important as you would want enough monthly benefits to hire someone to take care of you in the event that the above happens. From my analysis comparison of the three CareShield Life supplement plans, Aviva is the most compelling option. Please read the article before you speak to a trusted financial advisor and compare the prices between the plans and make the decision. Hope that helps :)
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HDB BTO

CPF

Retirement

Savings

Investments

SeedlySOS

Are there any disadvantages or penalties for clearing HDB loan fast? (Eg 5yrs)?
There is no disadvantage and no penalties. The only disadvantage is that the amount you use to clear your HDB loan, for some people, can be used to invest elsewhere and earn a higher return than your loan's interest rate.
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