Alvin Teo - Seedly
Alvin Teo

Financial Planner specialising in investments through multiple investment vehicles

Alvin Teo

Financial Planner at Promiseland Independent Pte Ltd

26Upvotes

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Financial Planner specialising in investments through multiple investment vehicles

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Alvin Teo

Financial Planner at Promiseland Independent Pte Ltd

26Upvotes
  • Answers (36)
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Savings

Investments

Insurance

Keep investing, still young so learn more, relook your shield plan if you want to see if you can save some from there. Get WL with Early-stage critical riders to protect yourself in case of critical illness. if I'm telling my 20-year-old self, would be learn driving, don’t give excuses on choosing career over starting a family or vice versa (this one didn’t happen to me but I see it all around me). Partying on weekends is overrated, drinking in pubs where you can have a conversation is better. Drink Lagavulin instead of Laphroaig have a real hobby cut your social media time in half build your clothes properly and don’t Fall for those cheap-made-expensive-again brands like Fila/champion When I was 19, I wore a Fila shoe and people laughed because it wasn’t Nike Air max.

Investments

Retirement

Savings

Alvin Teo
Alvin Teo
Level 4. Prodigy
Updated on 28 Aug 2019
The question you asking is whether you can retire now and whether what you have now can sustain you and wife to age 80. You have quite a lot of money + 1Mmid40s, a lot of advisors/consultants will be queuing up to help you with your money. Choose one that will outlive you by a lot is the most important. Numbers aside, the answer is a very very strong maybe YES . For now, do your usual: Will/LPA because of the interstate act, potentially half of your money and your wife’s money could go to your mother in law, leaving your mum with only half of your money. Your mid-40s and you’ve accumulated quite a fair bit, I would take a small amount to move to a place where the lease can outlive you for sure. You can drop some cash there without loaning a cent for this. Maybe can spend 1-3 years writing a book on how you and your wife accumulated this much and remained debt-free. After publishing the book, can also open courses. Get paid to talk about your life. You did well in accumulating so much, should not be a problem to get more. Take a long holiday and think about doing what you want in life because you have financial resources and vigour now than in the future. Congrats on firing your boss, your life starts now.

Transportation

Lifestyle

General

I have a car and I have friends who also pondered that question. Generally if you work at Jurong Island, and your pay should be quite ok, I would say if you like driving and your work hours are irregular “shift work”, getting a car might make sense. And you have have more control over your time.

Investments

You are ready for this long term commitment today. Just like we cannot predict future performance of active/passive funds, we also cannot predict your future financial health. Many articles debate on choosing between active and passive, but this is not a custody battle. You can do both, since you are new to this, and have some padding in money and insurance (which you should review from time to time. Sorry, occupational habits). Try them out, see how they perform, the fact that no one can answer probably means neither is vastly superior than the other, each have their own pros and cons which only individuals who experienced it can best determine themselves.

Investments

STI ETF

ETF

POSB

The drop in fees is by POSB (by extension of DBS), this makes it cheaper for you to invest, probably due to competition in this space. Seedly did a comparison in the past: https://blog.seedly.sg/which-regular-savings-plan-is-the-cheapest/ It hasn't been updated yet but you can see that it kinda has quite high fees if you start investing more.

Investments

Stocks

The short answer: It depends on the stock price. you must buy minimum 1 lot = 100 share of the stock. and stock price is always quoted for 1 share. If stock price is $1/stock, $500 gets you 500 shares or 5 lots. But in real life, there is other charges which you must take into consideration as well. If your budget is firmly maxed at $500, even if charges is $1, you can only buy 400 shares/4 lots and be left with $99 cash as change. IF the $500 per month thing, my suggestion is to invest ONCE every 2 to 3 months, that way you have $1500 each round and you can buy more and potentially pay lesser charges. Dollar Cost Averaging can be improvised in this manner. It is still an "averaging" investment method, and you have 3 months to decide which stock/etf to buy and really plan how to expend your bullets (cash)

Investments

Savings

Are you also a newbie in the sense that you have no prior knowledge to finance like me? My formal education is in Shipping. So investing and finance as a whole is a complete foreign concept to be, knowing compound interest in school is different from knowing compound interest in finance. Bear in mind, I picked up investing/finance way before I joined the industry. I was trying to figure out how come 25 years mortgage loan has so much more interests than 15 years, this question sent me down the rabbit hole. There are many many aspects to finance and investing is just one of them. There is also your own savings which is important no matter market bull or bear (good or bad). You just have to keep amassing knowledge in order to learn. You can do it through reading texts or books. But here a few main tips which helped me got through learning investments: 1) know that internet is a big place, a lot of things you read/watch could be just opinions and noise. Even if they are from big broadcasting companies. 2) Knowledge is crucial but mindset is even more important. i.e. my risk appetite is basically how well I can sleep at night even when market turns bad. How well you can sleep at night is important because if you lose sleep over investing, you lose focus at work, etc... 3) To loosely quote Charlie Munger, you have to learn how to sit on your hands and do nothing (don't recklessly react) 4) Investing in itself is a contact sport. You can find stocks every where. Just go out for a walk and you'll find tonnes of companies to INVESTigate: tiger balm = haw par group, take taxi = comfort delgro, buy 4D = wish Singapore Pools is listed. 5) If you find a good stock, don't keep it to yourself, the more people participates in your ideas and buy into it, the more the stock will rise. Picture this, you know everyone through 6 friends (6 degrees of seperation), so if you find a good stock and tell someone about it, chances are it may land into the ears of Warren Buffett and invest based on your idea. Wishful thinking but the idea is there. Have fun, play the long game, be responsible for your own money. Quality of Life Time spent on investing.

SeedlyTV EP06

CPF

That’s the rules, no choice. if no accrued interest, everyone will cash out this way and some of not most will squander it away. some people will want to sell their bigger flats to buy smaller apartments to ’cash out’ their flat.

General

Theoretically speaking, if all Chinese nationals decides to slap everyone that’s not from China, almost everyone in the world will get slapped in less than 5 slaps slapped That said, China can be self contained and shut itself out from the world and it will affect the rest of the world more than China itself. But this should affect the rest of the world temporarily as many developing nations will seize this opportunity to prove themselves as a manufacturing powerhouse. US on the other hand functions differently. plus right now, it has a businessman at it’s highest office compared to a career politician everywhere else. this can be a double edge sword.

Savings

Investments

Retirement

Supplementary Retirement Scheme (SRS)

Short answer: no longer answer: SRS is mainly to reduce taxes so since you have reduced your tax so much, why lock your money as opposed to having liquid cash? You can use liquid cash to buy investments and ice cream, SRS can only buy the former. Assuming you are years away from your retirement, there is various penalties and/or restrictions on your SRS money. maybe when your taxable incomes becomes sizable then parking some money aside to reduce taxable income can be considered. That is not to say you should max out the contributions every time.
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Level 4. Prodigy
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