Cedric Jamie Soh - Seedly
 
Cedric Jamie Soh

From gold bullions to adult diapers- ecommerce allows me to scale up.

Cedric Jamie Soh

Director at Seniorcare.com.sg

About

From gold bullions to adult diapers- ecommerce allows me to scale up.

Credentials

Director at Seniorcare.com.sg

Cedric Jamie Soh

Director at Seniorcare.com.sg

  • Answers (312)
  • Questions (5)
  • Reviews (5)

Credit Card

MileLion

Yes, banks do allow you to take advantage and close the credit cards a few months or rather, many months later. Banks know that there are many clients that open and close the credit card later, so there are now more incentives for people to spend $X amount of money on their card before they get a bigger bonus (more miles, some expensive gift) Periodically, some banks will SMS their card holders and let them know if they spend $X in 2 months or etc, they will get a gift, usually something that is quite valuable. Banks are gradually rewarding such users rather than outright giving for first card opening, you may want to stick to those cards in the long run =) Having many credit cards has no damage, but when you try to apply for property loans, the banks may ask you to provide documents and spending records of all the cards you have in the past 2 years. That may be be extra hassle for you if you have 10, 20 credit cards.

Lifestyle

Wah, leaving a comment here so that I can remember this later to attend. Looking forward to the details!

Insurance

Investments

Investment Linked Policies (ILP)

It is prudent not to mix investment with insurance. you go direct to the funds (either unit trusts, or better yet:- ETF) , you skip the monthly admin fees ($5 per month for most insurance company), the feeder funds fee from insurance fund to the real fund, the commission charges for holding the policy, the assurance charges and the etc etc etc... There are 101 reasons, just google for it, or search in seedly ask community. investment sticks to ETF, funds etc. insurance, just buy terms. Future you would be happier for it.

Stocks Discussion

Investments

Sounds like what robo-advisors will advocate. Invest based on formula, cold hard calculations of a bot, no human emotions involved. There are tons of robo adviser discussion in seedly Here is a good one. https://seedly.sg/reviews/robo-advisors

Singapore Saving Bonds (SSB)

Investments

AMA First Investment

Stocks Discussion

Why not both? split into both, give it a couple of year to see what you like and what suits you? Best way to experience swimming is dipping your toes in :D

Retirement

SG Budget Babe

Problem with retiring is:- whats there left to do? :) I will say i would not want to be stressed over retirement by 45. But I will love if I can keep on working and using my brains, skills and knowledge as best as I can till age 80 :)

SG Budget Babe

Stocks Discussion

Investments

I won't. Harmony is more important than wealth. Who is to say that their value wouldn't change for the better immediately after you convinced them to pull their money out? They will blame you. But if your investment makes a lot of money later, they won't thank you. (this applies to all our friends, colleague and life.... blames are easy, giving thanks is harder) Unless the investment is part of some scam, or unethical stuff, leave it ba. Harmony is the most important for a family.

SG Budget Babe

Lifestyle

Savings

Both are right. 6 Months of expenses is a more accurate way, since it is like saying you have 6 months to live without needing a salary, so you can give up the saving or investing part of your salary and only count the expenses. (serious in an emergency, forget about saving or investing). And obviously in an emergency, your expense is probably lower than usual. (skip the weekend buffet, skip the weekend drinks) Having said that, 6 months of salary is not wrong too, it allows you more buffer in case the emergency situation drags longer and longer..... I will say aim for 6 months of expense ASAP first, mark a milestone, then carry on to 6 months of salary later. ^.^

Multi Currency Cards

Cedric Jamie Soh
Cedric Jamie Soh
Level 8. Wizard
Answered 2w ago
It has been around for a while. Customer service is still not ideal, and a lot of referral rewards are not awarded unless you bug them (stories on forums). But mostly positive experience over the internet from regular users. I guess teething problems are common, but overall they are good and decent.

Personal Finance 101

Investments

Cedric Jamie Soh
Cedric Jamie Soh
Level 8. Wizard
Answered 2w ago
It depends on your style. I find most people love to receive dividends, seeing cash flow helps reinforce the saving/investing habits. Good! Personally I prefer all the money STAYS in the investment account (hence I love IWDA ETF). Don't come out in dividends or selling some shares, please. I follow Warren Buffett, he never declare dividends and let them ride.... ;)
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