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Andy Sim

Average joe hoping to learn from the best :)

Andy Sim

Top Contributor

HR Professional at a Financial Institution

About

Average joe hoping to learn from the best :)

Credentials

HR Professional at a Financial Institution

Andy Sim

Top Contributor

HR Professional at a Financial Institution

  • Answers (380)
  • Questions (4)
  • Reviews (0)

Investments

S&P 500 Index

ETF

Not really advisable cos: 1) There's 30% dividend witholding tax which is going to eat into your returns 2) DCA every month via a broker is going to cost you alottt which doesnt make sense You can try a similar etf CSPX (Accumulating) or VUSD (distributing) that's domiciled in Ireland to reduce your WHT to 15% instead and preferably do a lump sum investment into it. If you like, you can top up into the etf say once every 3 or 6 months instead of every month, to reduce the brokerage fees. https://newacademyoffinance.com/best-tax-efficient-etf-portfolio/ This article explains very clearly the witholding tax issues. Alternatively, you can try robos, though in the long run, fees will be quite significant as your portfolio grows.
šŸ‘ 1

REITs

Dividends

Investments

The right term for Reits is Distribution Yield but I guess Dividend Yield and Distribution Yield is used interchangeably - they should mean the same thing
šŸ‘ 0

Investments

StashAway

Robo-Advisors

Hi Anon, you'll never know when the market will suddenly go up again or how long the bear market is going to last. What I do, is to find good companies after doing my due diligence, and enter the market at several tranches since the prices are roughly depressed already. I.e. I enter now at xx price, if after some months it dropped further by another 10%, I'll buy again at the cheaper price. So this is sort of like DCA, at least you secure the price first. Further more, DCA works better in a bear market, so I'd stay invested or get invested.
šŸ‘ 0

Lifestyle

Family

General

COVID-19

Now's a good time to go to these places for a discount and what's better is there will ne no queue wahaha e.g. Shake Shack. Also thinking of a short staycation with many hotels offering discounts also.
šŸ‘ 1

Property

Family

HDB BTO

In this century, guys have no say HAHAHA #HappywifeHappylife Jokes aside, it's good to balance functionality and looks for furniture, so this 2 points can justify the value of it. You can try basing your arguments on this. Then again, if my wife thinks it's too expensive (which it likely will be), then it's a good thing as there's someone checking and balancing yourself haha.
šŸ‘ 0

Savings

Cashback

SG Budget Babe

Credit Cards

I would always pay off my bills in full because I only buy when I can afford them. Not sure whether the item is a need or a want, but you may want to reconsider getting the item and put it off to the future? You should have the ability to pay first (i.e. have enough savings), doesnt matter if you have a monthly income or not.
šŸ‘ 0

Investments

Smartly

ETF

Stocks Discussion

Hi Anon, Robos are for the long term. There are bound to be market fluctuations like this every now and then. Like what Zhe Liang mentioned, think about why you invested in this at first, do you still believe Smartly's methodology? For the better part, stay invested, the markets will recover one day.
šŸ‘ 0

Investments

Here are some ideas: 1) Grab driver 2) Teach tuition 3) Dog walker 4) Sell items on carousell 5) Affiliate Marketing 6) Photography
šŸ‘ 0

DBS Multiplier Account

Interest Rates

Savings

Savings Accounts

Yep you should definitely park your excess funds out of Multiplier. You can consider SCB Jumpstart or CIMB Fastsaver.
šŸ‘ 0

Savings Accounts

My spending account is my kids posb account haha, interest rate super low, so I only put in about 500 to 900 per month inside to restrict my spending. The rest all put inside a HISA like OCBC 360 or Multiplier.
šŸ‘ 0
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