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Bang Hong

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Bang Hong

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Bang Hong

44Upvotes
  • Answers (62)
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Investments

Career

Lifestyle

Bang Hong
Bang Hong
Level 4. Prodigy
Answered on 08 Jun 2019
I find Kindle default library good enough... Other eBooks: KOBO Epub Books MPH online DIGI Libraries

Loans

Bang Hong
Bang Hong
Level 4. Prodigy
Answered on 07 Jun 2019
Call CCS 6225 5227 for help. Seek immediate family or 1 level extended for money help. Please be upfront of the things you are at, and your plans. I am not as forgiving as others, people like you should be punished, because of your sin or issues you are affecting people, yes, making people uncomfortable (possibly). 1) Call the helpline and see what they can plan for you. They are professionals as they see many such cases like this. 2) $30k is an amount that is able to repay someone within a year if you are truly sorry and work extra hard including saturday and sundays. Bare in mind it is your wrong doing or wrong judgement that cause this, please feel very gulity and do something about it. Let that gulit become a lifelong life session which you may help your other friends in the future.

Career

Savings

Investments

Credit Card

Lifestyle

Bang Hong
Bang Hong
Level 4. Prodigy
Updated on 07 Jun 2019
My personal finance resolutions are 1. Dig deeper into critical illness insurance (early ci), exclusion, etc. To forge a better understanding to determine which plan to buy extra for ci. 2. Diversification, Monitor and pick 3 dividend stocks to invest in. Research on respective industry of stocks and nature of revenue generation not only from balance sheet. 3. Jobs opportunities and side income jobs. To dig deeper to see if there's anything worth doing. 4. Traveling cost optimization by doing more research and staying at a cost effective accommodation and air tickets.

CPF

Bang Hong
Bang Hong
Level 4. Prodigy
Updated on 07 Jun 2019
No straightforward answers here. I will advise to top up MA/SA to enjoy tax relief if the following are met (But not limited to): 1) You will confirm + chop reach FRS at 55 years old, with the projected increment of the minimum sum. 2) You enjoy a "good" tax rebate, meaning your income is on a higher tier tax bracket and not the 1st/2nd bracket for instance 3) You do not need the cash until you reach 55 years old (With assumption #1 is met). You should have reserve monies from other places. 4) If liquid monies is important to you, can consider SRS. At least can withdraw at a penalty for early withdrawals subjected to 100% tax for that year.

Career

General

Bang Hong
Bang Hong
Level 4. Prodigy
Updated on 07 Jun 2019
By theory "investing ALL" sounds like a bad idea, as the context of "ALL" might differ from people to people. With assumption your "ALL" is the amount you are willing to set aside and with other expenses/savings covered accordingly: 1) There is no "best method" , all suits to your personal cash flow. financial management, duration (tenure) , risks appetitate and many more. 2) Typically "professional" says 110 - your age = To invest in equity. For example 40 years old, 110 - 40 = 70. So you get this magic number of 70% stock and 30% bond in your example. 3) Depending how hardworking you are, I would prefer NOT to RSP, and to invest from time to time, rebalance whenever I need to. 4) No best method to rebalance or time frame, because sad to say, market reacts in different ways and sometimes in wonders. If you want more certainity or stability, ETFs might be a good way to start. Personally I rebalance about 2-3 times a year with no fixed duration, usually Q1, Q3 and Q4.

General

Bang Hong
Bang Hong
Level 4. Prodigy
Updated on 07 Jun 2019
On general, it had been an uptrend and will continue to maintain or go up in the next 12 months based on current economic health and news. But of course this might change time to time, cant say for sure next 12 months sure increase, but at least from current view, it would most likely on a rising trend for interests rate. But rising interests rate doesn't mean SGD fixed deposit rate will increase. The reason being some Banks do not want to have extra funds have many reasons. For example, DBS is not offering attractive FD rates because they already have the largest deposits in Singapore compared to other Bank. Other Bank in comparison need to offer alot more attractive FD to get funding (deposits) for their other Banking needs and maintain a certain ratio % mandate by the central bank.

Investments

Savings

Lifestyle

Bang Hong
Bang Hong
Level 4. Prodigy
Answered on 07 Jun 2019
I know how to improve but no, not gonna do anything about it. Life.

Lifestyle

Family

Loans

Bang Hong
Bang Hong
Level 4. Prodigy
Answered on 07 Jun 2019
From your answer yes, I got good experience from getting new car from PI last year. It was a JDM car which authorised distributor do not carry that model. Go for reputable PI even though they are tiny bit more expensive than regular PI.

Career

Bang Hong
Bang Hong
Level 4. Prodigy
Answered on 07 Jun 2019
If you looking into far and beyond, I will say that register as a business almost always win. Why? It give some assurance that your work is better and the impression that people get from pte ltd versus freelancer are very different. You may disagree but do that after you talk to more small business owners / SME.... Not a requirement but might have some slight bias. The other thing is about accountability which other answers had shed some light and you can google for more info as well. Lastly to network and joining events as a company's representative is always better in most ways even though you are the only 1 in the company! Additional Info: Payments - Nowadays can pay to business reg number via PayNow and others, no worries Networking - Covered above Legal - There are some business template which you can use online. You can engage a lawyer for 1 time to go thru' the contract. Since you are going to SME or small entitiy you can draft something at your end and let them sign your version of contract rather than theirs. I propose to keep each contract as short as possible, say 1-3 months and have many contracts. Let's say you and your client want to work for a year, sign a MOU instead and have contracts signed every quarterly. This would reduce some risk that at your end and it is only possible for small companies to accept such terms and not bigger companies.

Investments

General

Bang Hong
Bang Hong
Level 4. Prodigy
Answered on 07 Jun 2019
Investing can never be really "safe" , just like in 2008 it just goes, it goes. Do have a balanace weight on Bonds (Safer options) like SSB and some on something that is a little risker but more returns like REITs, FX, etc. I will say start somewhere, start small and observe the market. If you are worry you can also look into robo advisory which they have auto-rebalancing for you, the same theory applies, start a small amount which you are comfortable and monitor. My view is , the best time to start is yesterday, even buying into a Bond ETF (A35 code in SGX), yielding about 2%++ , it is still a good start. All the best!
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Level 4. Prodigy
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