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Investments

Robo-Advisors

ETF

REITs

Hi everyone, should I do ETF or REITs if I want to invest $10k (I am just a student)? And should I use SYFE or brokers? I am very lost to be honest...?
Hi Anon, I think it's great that you are getting started with your investment journey early. There are many types of ETFs out there, ranging from sector ETFs, index ETFs, growth ETFs, bond ETFs, or even REIT ETFs for that matter. For the rest of my answer, I'll assume you're talking about growth ETFs. As for ETFs vs REITs, I think it depends what your investment objective is. If your objective is capital appreciation (which I feel is what it should be at this age), you should go for ETFs or even pick individual stocks if you have the time to do your research. If your goal is for dividends/passive income, REITs will be a better choice. Also, there is no harm in doing both. To choose between Syfe vs brokers, it depends on your commitment level and your knowledge. If you are well-equipped with knowledge of the markets, I would reccomend opening a brokerage account and picking your indivudal stocks/ETFs. If you're not, you Syfe will ask you a couple of questions based on your risk appetite and reccomend a portfolio to you. The portfolio will have a pre-allocated set of ETFs. With Syfe, you also can set up a recurring payment to DCA into the market. Basically, the amount of work you need to do for Syfe is much lesser. I reccomend that you get started with Syfe (or any robo-advisor of your choice), get a taste of the market and when you're ready, open a brokerage account and start buying indivual ETFs.

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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?
C
curious_moo
Level 4. Prodigy
Answered 51m ago
In my opinion, you may consider doing voluntary contribution to his SA for some of the benefits if you have extra cashflow and do not need the liquidity: - 4% per anum returns on SA account - increase CPF life payout for your dad - tax relief for such contributions up to 7k

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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 5. Genius
Answered 18h 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

Supplementary Retirement Scheme (SRS)

Retirement

Should I go for special account top or SRS if I were to plan for my retirement in a more “efficient way” to reduce tax?
C
curious_moo
Level 4. Prodigy
Answered 1h ago
I think there is no right choice, as it depends on the purpose of this contribution, the liquidity and the individual perspective and knowhow. Some of us even do both SRS and SA top-up if we are super high in-come earners now. But below are some of the basis comparison for reference. SRS - WIthdrawal age is statutory retirement age at time of application (current 62) - To effectively earn the tax relief, annual withdrawal post-retirement should not be more than 40k per year. - Early withdrawal allowed with penalty 5% and subjected to income tax - Good for invest-savy participants who can achieve more than 4% offered by SA SA account - Withdrawal age is 55 (on balance after forming RA account) - Not subjected to further tax during withdrawal - One way contribution and non-reversal - Good for risk adverse participants who is satisfied with 4% offered by SA

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Investments

Savings

I finally decided to start investing and not leave it in the bank for years. Do you all have any advice on what I should invest in? I am willing to leave it untouched for 3 years?
Fatty Finance
Fatty Finance
Level 4. Prodigy
Updated on 09 Feb 2020
Singapore Savings Bond or continue keeping it in the bank. Look for other high interest savings accounts (dbs multiplier, ocbc 360 or uob one etc etc) that can guarantee your principal. I agree with all the others, 3 years is pretty short time period for investing. Given the volatile start of year 2020, there is no guarantee you will gain anything more by investing than just leaving it in the bank for 3 years. In fact, it is possible to lose more. Which brings us to another key factor: how much can you afford to lose? This will determine which kind of assets you should invest in - stocks or bonds or a mixture of both.

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4

In the News

Tesla

Investments

Stocks Discussion

Online Brokerages

Tesla's shares slid 1% on top of the stock’s 10.34% decline during the normal trading session after “Battery Day". Guess it's time for Tesla bulls to strike? What platform to buy into Tesla?
I've been a heavy bull on Tesla since $200 (pre-split) Let's talk about Tesla for a while, but I'll save you the details on the company, the product and all that jazz. Let's talk about the stock price. - Faith in Musk & Co to achieve Tesla goals. I'm a Tesla Bull because of the maximum potential Tesla can go. They are nowhere near, so there are no financials, no revenue numbers on their Cybertruck, their Insurance expansion, their new batteries or their possible side businesses. All thats left is to trust in Musk to achieve that, and make sure that if he fails to do so, you are not impacted. - Understanding of the cult like nature of the stock Tesla's shareholders are like a cult. There are the super long term investors, fighting wtih the long term shorts. The increase of this group over the shorts caused the large and consistent spike in prices, as long term buying demand increased over long term selling demand. If the situation ever flips, Tesla suffers headwinds on a long term scale, the reverse might happen and the price will stay depressed longer. - The short term price speculations The current buying opportunity your looking at, is due to short term speculators running for the door when the Battery Day didnt announce anything revolutionary. This might turn into a long term downtrend (read before) or a short dip before a recovery (if speculators flood back in). Which group do you belong to? If you are a short term speculator, going in now for the chnance that it will spike is not a bad idea. if you believe in the long term potential + Musk and Co., making use of this chance is not bad too. Disclaimer, I am vested, heavily. I wont lie to tell you that I was disappointed and shocked by the price fall. I will be attempting to buy more if I can.

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AMA The Woke Salaryman

Marriage

What are your views towards couple finances?
C
curious_moo
Level 4. Prodigy
Updated 1h ago
My personal opinion is that all couples should discuss to decide on the allocation of expenses after marriage, and this could be very different depending on each couples financial situation and life stages. There is no need for joint accounts specifically for special expenditures; maximising interest returns is more important. For me, im the higher income earner comparing to my wife. Thus below serves only as a sample on how expenses are shared between us: - Wedding Related (50/50) - Housing Mortgage (60/40) - House Renovation (50/50) - Pregnancy Expenses (100/0) partially offset by government cash bonuses - CDA (50/50) meant for childcare and medical expenses - Utility Bills (100/0) includes electric, water, gas, broadband/LAN lines, sncc, property tax, netflix - Mobile Bills (50/50) pays for your own - Groceries and Food (70/30) split based on card/cash spending - Car Loan incl. COE (50/50) - Car Petrol (100/0) - Car Servicing, Insurance, Road Tax, Parking (100/0)

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Wedding

Resale HDB

CPF

Savings

Do you start talking to your gf/bf about finance before or after getting proposed to?
First, congrats. Second, no it is not weird. You just ask about it. After seeing numerous couples over the years, do not make assumptions. Best to clarify and plan for an event that has a high likelihood of fruition. Follow me here.

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AMA The Woke Salaryman

Undergraduate

What would you do if you were 20 again?
He Ruiming
He Ruiming, Co-Founder at The Woke Salaryman
Level 5. Genius
Answered 20h ago
To be honest, if I were to do it all over again, I would probably continue do the same things all over again despite me not being financially awakened at 20. I think we are a product of the experiences we have. I got a study award to go to Australia when I was 21, and it exposed me to a series of experience that would change my worldview. There I learnt that the Singaporean way wasn't the only way of doing things, and that people will always be judged by their skin colour. I saw brilliant people from our South East Asian neighbours that had to leave their countries because it could not provide the opportunities they wanted. I learnt about the class divide, about how the world isn't fair. I saw both privilege and inequality, and learnt to see objectively the both sides of every coin. But perhaps most importantly, it gave me context to the last 20 years of life I led – and what it meant to a citizen of a developed Asian country. All these factors when put together, primed me with enough motivation to start my journey towards Financial Independence when my mom had a stroke at 25. It's possible that if I didn't have these experiences, I would not have the convictiion I have – I might even have given up after a month or so. To be really honest, the information on how to get rich has always been out there. What is oftenlacking is the drive and motivation to follow through. If you're twenty, the best thing you really can do is the change your mindset on how the world works – it's something I wish I did earlier. Adopting a growth mindset will make you humble and hungry. There is nothing more powerful than that.

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Promo Codes

Is discount off tariff or fixed plan better? How to decide which is more suitable for me? Tried the calculator and DOT seems cheaper, are they other factors to look into? Any referral or promo?
Ohm
Ohm
Updated 4h ago
Hi there! Generally, there isn't a best plan. For a fixed price contract, your contract rate remains the same throughout the contract period and the quarterly revision does not affect your rate at all. For a discount off tariff price plan, the regulated tariff is revised every quarter but you can be guaranteed that you will always be paying a rate lower than the regulated tariff during the contract period. For Different retailers, they will have different strengths. For example, Ohm Energy provides you with the fuss free approach where everything is done online. Your bills are also consolidated and remains the same. Your payment arrangement also remains the same if you are on GIRO currently. We do not think that rate counts for everything. Some of the points that you should look out for is: a) If your retailer is responsive to your queries if you have any. Are they contactable. b) If the sign up process is convenient c) Terms and Conditions and if there are any other hidden clauses d) Renewal Terms - You may be renewed on a worse off rate on renewal if you forget. The current Promotions for New Ohm customers are: 1) 3 months trial: If you are a new customer of Ohm, the first 3 months under your contract(Fixed Ohm or Ohm Discount) is considered your trial period. You will be able to terminate your contract with us without incurring any early termination fee 2) Referral Program: If you do not already have a referral code, you can use this promo code OHMREF232672 while signing up with us to enjoy $20 off your first electricity bill with Ohm. After signing up with us, you will get your own referral code. If your friends/family signs up with us using your referral code, you will get addition $20 credit for your electricity bill per referral. You can potential save a lot more for your electricity bill and there is no cap for this. If you do use UOB cards to make payment, you may take up this promotion: https://ohm.sg/news At point of sign up, you can only use 1 promotion code.

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