Aaron Leow, CFA, ChFC®/S - Seedly
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Aaron Leow, CFA, ChFC®/S

Over a decade in my career, I have helped over 350 families secure a guaranteed income for life. Contact me at aaronleow.com

Aaron Leow, CFA, ChFC®/S

Financial Consultant at Prudential Assurance Company Singapore

About

Over a decade in my career, I have helped over 350 families secure a guaranteed income for life. Contact me at aaronleow.com

Credentials

Financial Consultant at Prudential Assurance Company Singapore

Aaron Leow, CFA, ChFC®/S

Financial Consultant at Prudential Assurance Company Singapore

  • Answers (338)
  • Questions (0)
  • Reviews (0)

Stocks Discussion

Investments

ETF

Online Brokerages

I am a 27yo beginner in Investing, able to set aside $400 monthly. Looking at RSP of $200 on FSMONE VOO and Saving up the remaining $200 & Invest it quarterly. What are your thoughts and advice about this?
Forget fees for a moment and take this time to learn who you are as an investor. If you wish to dwell into multiple ETFs as opposed to VOO, go for it. The few dollars on $400 a month is not really going to make much of a difference when you spend more on a cup of coffee at Starbucks. Overall I feel that the transactional fees are anything but minute compared to the experience and education you get in your journey to understand what kind of investor you are going to be in years to come. Most people really figure out what kind of investor they are after the 10-year mark. It took me 10 years to understand what kind of investor I am, and I am able to figure out what kind of risk I am willing to take because I have experienced 5-6 crashes in my holdings over that time period. To be deterred by the few dollars when you can simply top up the difference from your monthly income is just not worth your time unless you are pumping in $10,000 a month consistently. Or if your average trades exceeds 5 figures per trade. Stop saving pennies, look at the big picture. If you feel you want to take the journey down investing across a broad range of risker assets, go for it. Just understand that you might hit a few walls and expect to make mistakes. Everyone thinks that they are high-risk investors until they see their holdings drop by 75%. In the longer term, the index is hard to beat. But it is not unbeatable in the short term. But understand to carefully differentiate the difference between skill and plain luck. Whom most of us simply are: lucky.
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Investments

Is it worth the $ for young investor (20yrs old) to invest $100 SGD monthly (VOO) using RSP at fsmone?
Getting started is better than worrying about fees. Stick to a plan you can maintain for the long run. You can compare platforms like Stashaway and Syfe for Roboadvisor options as opposed to FSMone.
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Insurance

Critical Illness (CI)

I am a 27 years old male here looking for a critical illness insurance before its definition changes after 26th Aug 2020. Can you give some good plans to consider?
Most insurers will have similar if not, the same CI products. Stick to a consultant you enjoy working with. There are some insurers who have changed the definitons ahead of schedule. Clarify before proceeding.
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PolicyPal

MoneyOwl

ValueChampion

Savings

What happens to my money when I die without a will?
If you are a non-muslim, it will fall under the intestate succession act. https://sso.agc.gov.sg/Act/ISA1967 If you are a Muslim, the Syariah law applies. " Muslim intestate law, faraid, is provided for under the Administration of Muslim Law Act (AMLA) " https://singaporelegaladvice.com/law-articles/muslim-inheritance-law-in-singapore/
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Undergraduate

StashAway

Loans

Education

Investments

Robo-Advisors

I am an undergrad. Should clearing my student debt of 33k be a high priority or should I opt for higher risk investments to gun for the long-term?
Depends on your plans. Clearing debt is a guaranteed return. Investing is not. Why not do both at the same time. The porportion of the debt and long term capital appreciation should be adjusted according to your risk appetite. Clearing debt is like getting a guaranteed return on a bond - which is risk-free and frees you to leverage further in the future when you need it.
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Investments

Fresh Graduates

DBS

Stocks Discussion

Online Brokerages

Regular Shares Savings Plans (RSS/RSP)

I’m a 25 year old and I just started working. I have 12k saved and plan to save 1K per month. I have no knowledge about investments and I been reading on this site. Would you advise that I buy DBS shares and keep for dividends?
There was an article somewhere on seedly about this guy who only bought HSBC shares. In 2020, his plan went up in flames as his capital went downhill, and dividends got cut. I would avoid concentrating on one position as that will leave you open to concentration risk. Instead, rsp into an index fund/bond mix if you are risk-averse. https://www.ejinsight.com/eji/article/id/1498330/20170223-a-taxi-driver-retires-at-33-after-amassing-40000-hsbc-shares
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Insurance

Prudential PRUshield Health Insurance

Prudential PRUpersonal Accident Personal Accident Insurance

Life Insurance

I'm 26F with 4.8k income (after cpf). Am I spending too much on health insurance and am I sufficiently covered? Currently only have 1 dependent (parent). Any advice?
You are well covered within the financial guidelines. If there is a further increment in your income over the years, you should consider opting for a term plan till 70/80 for death and disability.
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Insurance

Life Insurance

Whole Life Insurance

Critical Illness (CI)

My parents bought me insurance from my insurance agent uncle since I was born. But I wish to switch to another agent from another company. is that possible?
It will make little sense for you to do a replacement for your protection plans. The new consultant you hire should take your existing policies into account and factor them into your plans moving forward. Plans should be an addition, not a replacement.
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Insurance

Critical Illness (CI)

I am 23yo, and just newly entered the workforce. Is it okay if I put off buying CI insurance till I am 30/35? I currently do have a ISP. Any advice?
Yes, you can. Premiums will simply increase as you age. And insurability is not guaranteed if ailments were to arise. If you have already made a decision to buy it, there is no financial reason to delay the purchase due to the above factors. The key is to watch your budget.
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