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

43Upvotes

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

43Upvotes
  • Answers (56)
  • Questions (4)
  • Reviews (0)

CPF

Insurance

CPF DPS is reasonably priced. Keep it. Best part: you can use CPF to pay for the premium. (aviva's group term only accept cash) The bad thing is we cannot buy more even if we want to.

Insurance

Hospitalisation Insurance (H&S)

I feel both have their advantages, but it boils down to this:- Is this friend okay if you say no to his proposal? :) Sometimes it may be awkward.

Property

General

CPF

I always max out my CPF. If i have a good opportunity or crisis, can I take out my CPF that I have not touched for that emergency or opportunity? then whats the use of 2.5%? CPF is not your own money until you can spend it =)

Savings

Cedric Jamie Soh
Cedric Jamie Soh, Director at Seniorcare.com.sg
Level 4. Prodigy
Updated on 17 Jun 2019
I don't know your salary, but it seems like you are reaching 100k in networth before age 30, so congrats! The amount of savings should also depends on your income. If you are saving $30k a year and earning $100k a year, that is a healthy ratio. If you are earning $500k a year and saving $40k, thats not a lot of savings.. :) On the other hand, if you are earning $35k a year and saving $30k, I think thats horrible... you will have too little leisure and happiness. Save a healthy rate of 20 - 40% it depends on individuals too. If you failed to save 20 - 40% doesn't make you a bad person, it could be that your family requirement is different from the rest.

Lifestyle

Cedric Jamie Soh
Cedric Jamie Soh, Director at Seniorcare.com.sg
Level 4. Prodigy
Answered on 14 Jun 2019
Its not a scam. Its very authentic. Disclaimer:- I attended different ecommerce courses before, both local and USA markets. You are not going to get rich just by attending the course . There are a lot of thinking, planning and hardwork to get to the passive income stage (meaning your company has many staff running the operations). If you refuse to attend such courses, y ou can learn on your own , via googling, via youtube learning, via checking with the platform guides (Qoo10, Lazada, Amazon all have self-help guide), you can definitely do it on your own. What the course can do for you is to cut short this learning curve by a lot. Some pple may take 6months, some may take 2 years etc. These courses usually help by summarising what does not work (via their experience) and what works to you so you can save the trouble, the time, and usually the money. I have learnt from https://decisivemarketer.com/ and also a free group https://www.facebook.com/groups/158010781507949/ Both paid and free provides different varying level of support. Did I make back the money i paid to my mentor? Of course. It was a long struggle without going through the paid course, and I am glad I gave up learning on my own and seek help. Even with the paid course material, i still need time and effort to slowly apply and scale up my business. Do learn if you can afford the time and money. but do not think its a get-rich-scheme. You need to work hard!

Investments

Savings

Lifestyle

Cedric Jamie Soh
Cedric Jamie Soh
Level 4. Prodigy
Answered on 13 Jun 2019
My beloved government. they have done well, lead by LKY. But currently they seems to have lost track. Why must Singapore govt keep telling us that our GST is Low and other countries are expensive? And then keep hinting us GST has to go up soon. our country is not poor, we can use more golden eggs prudently without killing the golden goose. GST hurts the poor more than most of us upper class. Why our system can have gst free for gold and silver bullion but not for rice / noodles / basic necessities? for my better financial life, I am willing to give up the current government I love so much.

Credit Card

Cedric Jamie Soh
Cedric Jamie Soh, Director at Seniorcare.com.sg
Level 4. Prodigy
Answered on 11 Jun 2019
Seedly has a few online article on credit card promotion. https://blog.seedly.sg/best-credit-card-promotion-singapore/ You can also look out for credit card roadshows in shopping malls or public transport hubs. There are usually free gifts provided for signing up and using the cards. Welcome to the world of credit. Pay your credit card bills on time every month!

Bank Account

Savings

Family

Cedric Jamie Soh
Cedric Jamie Soh, Director at Seniorcare.com.sg
Level 4. Prodigy
Updated on 10 Jun 2019
A lot of women will agree with me on this (including my wife) The best joint account is one in the wife's name. :P (My money is her money. Her money is.... her money) Jokes aside, my wife is more diligent and careful with our money than me. The only thing is she is not savvy abt investments and prefer to be cautious while I am the risk taker, and my track records have shown high-risk-return is still better. Sooo all my money is in her bank account, but whenever i have investment opportunities, I will ask her for permission to use.. "our money".

Family

Lifestyle

Career

Cedric Jamie Soh
Cedric Jamie Soh, Director at Seniorcare.com.sg
Level 4. Prodigy
Updated on 10 Jun 2019
When I got married. I was a high earner in my young adult life, but I didn't have much to show for it by the time I managed to find a wife... ^.^ Most of it is spent on lifestyle, bad debts to "friends", my car, and failed business 1 failed business took away quite a fair bit of my wealth (did I regret it? Absolutely no) So when i got married, i didn't have too much cash for a new home. took us sometime and luckily my wife has more CPF than me... :P I started to be more calculative in my spending, and saving up more. i started staring at stocks, taking less risks at stocks. I learnt more skills and trades for business income. I started finding out more on alternative investments to make my money work harder. by the time my son arrive, I think I am spending and saving healthily. :)

Career

Cedric Jamie Soh
Cedric Jamie Soh, Director at Seniorcare.com.sg
Level 4. Prodigy
Answered on 10 Jun 2019
Yes. The rules are not so clear now as there are many home cook bloggers that cook small amount of food for sales, but generally if you are selling a decent amount of food or drink, it is better you check with the Food Safety Agency and get properly certified and trained to reduce any issue with the law.
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Level 4. Prodigy
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