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Anonymous
Can you share the RSP you are using or have used previously? Any recommendations on how I should allocate my money?
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Maisul
11 Jul 2020
Youtuber at Google (Channel : Say Do Invest)
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Lim Qin Da
09 Jul 2020
Finance & Business Analytics at National University of Singapore
Great that you are starting your investment journey through RSP! The Regular Shares Savings Plan (RSP) has been a popular method brought up by the community as you will be able to start investing without a large sum of capital and time. Another benefit of RSP is that it allows you to Dollar-Cost Average (DCA) your investment monthly.
Information accurate as of 9 Jul 2020.
With as little as $50 to $100 a month, any Singaporean with little to no knowledge of investing can take their first baby steps on their investment journey through RSP. The best RSP would be the cheapest one because this way you get to keep as much of your dividends as possible.
TL;DR: Generally, if you are investing in small amounts every month, FSMOne Regular Savings Plan is the cheapest one until you surpass $1.3k per month, where its percentage fee would be charged instead of the minimum fee of $1 (more details below).
If you wish to have access to STI component stocks, OCBC Blue Chip Investment Plan would be the cheapest option, whereas PhillipCapital Share Builders Plan offers the greatest number of counters for STI component stocks.
DBS Invest Saver
No platform fees
No management fees
0.5% for SGD Fixed Income ETFs
0.82% for STI ETF and REIT ETF
4 ETFs listed on SGX
ABF Singapore Bond Index Fund
Nikko AM SGD Investment Grade Corporate Bond ETF
Nikko AM STI ETF
Nikko AM-StraitsTrading Asia ex Japan REIT ETF
FSMOne Regular Savings Plan (Reviews)
No platform fees
No management fees
49 ETFs listed on SG, HK and US Stock Exchanges
Nikko AM STI ETF
Nikko AM-StraitsTrading Asia ex Japan REIT ETF
Vanguard S&P 500 ETF
iShares Core S&P 500 ETF
Vanguard Total World Stock Index Fund ETF
Many more…
OCBC Blue Chip Investment Plan
No platform fees
No management fees
0.88% with initial investment of up to $500 per counter for new BCIP customers who are less than 30 years old
0.3% of total investment amount or $5 per counter (whichever is higher)
3 ETFs listed on SGX
Lion-Phillip S-REIT ETF
Nikko AM SGD Investment Grade Corporate Bond ETF
Nikko AM STI ETF
Cash Dividends: OCBC Deposit Account or OCBC SRS Account
Stock Dividends or Bonus Issues: Safe-kept with OCBC Securities Pte Ltd
PhillipCapital Share Builders Plan (Reviews)
No platform fees
No management fees
Invest less than $1k with 2 or less counters: $6
Invest less than $1k with 3 or more counters: $10
Invest more than $1k: 0.2% or $10 (whichever is higher)
5 ETFs listed on SGX
Phillip SING Income ETF
SPDR STI ETF
Lion-Phillip S-REIT ETF
Nikko AM SGD Investment Grade Corporate Bond ETF
ABF Singapore Bond Index Fund
Currently, I am using FSMOne Regular Savings Plan and I’ve put some money in Vanguard S&P 500 ETF (VOO) and Nikko AM-StraitsTrading Asia ex Japan REIT ETF (CFA). Been using their platform for a while and it’s quite user friendly! I also like the fact that I can invest in US ETFs from as low as $50 a month, so it’s a great platform for people who want to start small but have overseas exposure. What about you? Feel free to share your thoughts and tips!
References were made to a Seedly Article written in Jan 2020. Click here to read more!
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Tan Wei Ming
09 Jul 2020
Founder and Writer at Frugal Youth Invests
There are few reasons why I decided to use FSMOne’s ETF RSP instead of kristal.AI even though the la...
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You can also consider buying n ETF via a broker.
Ticker symbol : IVV / VOO
The above ETF tracks the S&P 500 (standard &poor) top 500 companies. AVERAGE returns is at roughly 7%
Use DCA (dollar cost averaging) to average out the price of the stock
Watch my video below to understand more about DCA.
https://youtu.be/t4Npy3BLm2k