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Alvin Teo

Financial Planner at Promiseland Independent Pte Ltd

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Alvin Teo

Financial Planner at Promiseland Independent Pte Ltd

  • Answers (92)
  • Questions (0)
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Insurance

Whole Life Insurance

Term Life Insurance

SG Budget Babe

Family

Alvin Teo
Alvin Teo
Level 6. Master
Answered 2d ago
Hi Kenny, get whole life. In short, a term plan typically is used to cover any outstanding debt or “unearned” future earnings due to premature death. A strong key reason for getting WL for baby apart from low cost of insurance is that you can add on Early stage critical illness / multipay CI riders. The purpose is now different as opposed to getting term. If child is unfortunately diagnosed with early CI, one or both parents may need to stop work to look after the child. The payouts from the CI benefits is to now protect the income loss of the parents. As others have mentioned, do ensure you have shield plan and PA plan for yourself and your baby. For shield plans, I have covered it comprehensively in an article here: https://www.theastuteparent.com/2019/09/best-shield-plan-for-newborn-baby/ AIA is no brainer because not waiting period for congenital illnesses and coverage of $2 mil for private hospital plan For PA plans, can consider Sompo where if both parents were to be insured, the child gets free coverage as well to a certain extend: https://www.theastuteparent.com/2018/03/sompo-pa-star-personal-accident-insurance-for-family/amp/ To help you do these things better and with clarity, you need to speak to an independent financial adviser like myself to save you time from doing it yourself and filtering sales pitches from various agents saying why their company’s the best as we can advise, compare and distribute plans from multiple insurers.

SG Budget Babe

Family

Lifestyle

Alvin Teo
Alvin Teo
Level 6. Master
Answered 4d ago
As a new parent myself, I would say be patient and compare prices during 11.11,12/12 type sales, also go baby fairs too. Paying $1 more for online maybe worthwhile considering it’s delivered to your doorstep. I have previously written an article based on my experience here: https://www.theastuteparent.com/2019/10/10-best-ways-to-save-cost-during-your-pregnancy/

Stocks Discussion

Alvin Teo
Alvin Teo
Level 6. Master
Answered 4d ago
As an investor, I like that they are planning to raise more money to make more money rather than borrowing. It allows them to access to more funds. Fundamentals of the original Thaibev company still needs to be monitored as they have been marked for having higher levels of borrowings.

MileLion

Alvin Teo
Alvin Teo
Level 6. Master
Answered 4d ago
Whatcard Or rather after you get your card, maybe you can use Seedly (app/Facebook group) to discuss strategies. A lot of card gurus to help you there.

Stocks Discussion

Alvin Teo
Alvin Teo
Level 6. Master
Answered 4w ago
Taking profit yes but you have to check on your portfolio weightage. Maybe switch the investments to something else like consumer staples or fast food. Yum (owns kfc/taco bell/Pizza Hut) did quite ok during crises because people eats fast food more instead of restaurants to save up. Waiting for corrections is one of the worse kind of timing the markets. You never know when is it rock bottom, when is it’s climb back up or if it’s a dead cat bounce. Portfolio management is still key here. Adjust the % in it and see where that leads to. If you are still worried about the market conditions, you should bulk up on emergency funds and wonder if any adverse market conditions will affect your day job. The views on crises coming is typically noise and sensationalism rather than journalism. No one wants to read an article titled: “we have no idea when market will crash.”

Stocks Discussion

StarHub

Alvin Teo
Alvin Teo
Level 6. Master
Answered 4w ago
The fact that you have to mention sustainability over dividend payouts means it’s not sustainable. 5G is not a proprietary tech for starhub only. It’s first mover’s advantage will be as short as it’s bull run once the other telco starts their own 5G network. For the longest time, starhub has had a cable tv. That did nothing for its share price and look at the state of it now.. Sometimes no need see numbers also can determine the company good to invest or not. This is unlike creative. While not inventing, it was suing people for money so that’s good money coupled with proper business management.

Stocks Discussion

Investments

Savings

Alvin Teo
Alvin Teo
Level 6. Master
Answered 4w ago
Congrats. Depending on your risk appetite, you can get either Bond ETF to ETF to individual stocks. And if each transaction broker fee is $10 ($20 including buy and sell), you need to measure how many % is the fees compare to that transaction. If you buying $335 worth of sti etf which is 1 lot, fees are 20/335 or 5.9%. This means the first 6% gains are just to breakeven. It would be better to purchase 2-3 months worth of investments at one go. If it’s a $1k investment, $20 is 2% which is much more achievable. Of course the usual of setting aside for your emergency funds is done and etc. Makes sense?

Savings

Lifestyle

Family

Insurance

Alvin Teo
Alvin Teo
Level 6. Master
Answered 4w ago
It could be under expenses for protection/accident/health insurance. I would put WL plans here too as it’s more widely used for CI coverage than attaining its cash values As you are expecting money back for endowments/annuity it can be parked under savings and try to only count the guaranteed amounts or announced cash bonuses, leave out the projection for now. As for the allocation, it’s a good guideline as to where your money should go but not a mandate. You should see what priorities you have in your life and attend to them. That is not to say you spend everything. I’ve talked briefly about this amongst other things in this related article: https://www.theastuteparent.com/2019/11/start-at-40/amp/

Property

Loans

Alvin Teo
Alvin Teo
Level 6. Master
Answered 4w ago
You mean now is fixed or floating rates offered or which is better fixed or floating? Bank loans offer fixed then floating after 3 years. It idea is to have you refinance. If the short term loan of 10 years or less bank mortgage loans are not bad due to current interest rates. And In event of crisis, there should be interest rate cuts to promote lending. But for long term loans of >20 years fixed rates like HDB loans are better as it offers stability and no penalty for early repayment or partial repayment. Have to plan for events of prolonged unemployment as well.

Insurance

Savings

Endowment Policies

Alvin Teo
Alvin Teo
Level 6. Master
Answered 4w ago
The figures look quite bad. Need to sit down and crunch numbers. But of course what objectives are you trying to achieve? You have an income from your work, are you putting money aside to fulfill these objective regardless of whether you keep or rid off this policy?
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