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Chin Guo Qiang

Food, Tech and Hobbyist Photographer [Apple iPhone XR and Canon EOS M50]

Chin Guo Qiang

Project Manager (Executive, AppSys) at Home Team Science & Technology Agency

About

Food, Tech and Hobbyist Photographer [Apple iPhone XR and Canon EOS M50]

Credentials

Project Manager (Executive, AppSys) at Home Team Science & Technology Agency

Chin Guo Qiang

Project Manager (Executive, AppSys) at Home Team Science & Technology Agency

  • Answers (39)
  • Questions (5)
  • Reviews (7)

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Promo Codes

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Savings

Investments

Bank Account

Stocks Discussion

I would say if you are on the following accounts, keep a part of the $60k in. - DBS Multiplier ($25k for 1st tier interest) - SCB JumpStart ($20k for bonus interest) - OCBC 360 ($35k for 1st tier bonus interest) The remainder $25k ~ $35k can be better managed with the following tools (ris-averse approach) 1. StashAway (Up to 1.95% pa interest, non-guaranteed ) 2. Dividend stocks or REITs (Avg 5 - 7%, depending on the stock type and companies)

Investments

Savings

Credit Card

Bank Account

DBS Multiplier Account

Back to OCBC 360 / CIMB FastSaver / Singapore Savings Bond trifecta combo. Recent switched out of Citibank Citi Priority due to nerfed interest rate from 2.2% to 1.5% pa.

Savings

Salary

Career

Can consider industry related skills to upsell yourself as more technically capable to contribute for your current company. Then ask for pay adjustments (pay raise sounds a bit crude to ask).

General

Savings

Don't rush to get to $20k OA just for the 3.5% pa interest in CPF account. It can be $5,000 or $10,000, but the 3.5% pa interest do not add up to be a significant sum, for balances less than let's say, $50,000 (I did the math myself and saw the trend). Just contribute if you see it fit for a good 3.5% interest rate, if not keep the earnings as liquid for opportunities to come by. :)

Investments

AMA First Investment

Save the same amount intended for CPF contributions to a fixed savings account, create your own "CPF contribution" first. 6 months down the road, the money will thank you :)

Savings

Retirement

Salary

Investments

CPF

Chin Guo Qiang
Chin Guo Qiang
Level 5. Genius
Answered on 19 Jan 2020
Use the 50-30-20 rule, but for me, it is 20-60-20 rule. 20% for fixed expenses (set fixed Budget) 60% for savings before any other plans. 20% for misc. expenses. Without CPF, the 60% ratio is very important as you don't want to lose out on another chunk of interest payable, after CPF is thrown out of the equation. :)

MileLion

Credit Card

Chin Guo Qiang
Chin Guo Qiang
Level 5. Genius
Answered on 19 Jan 2020
I'm still using the old 2.0 cpm for easy calculations, but MileLion gives the most accurate information imo. Meanwhile, I'm squirreling away the miles, 1 transaction at a time (maximizing FCY on my OCBC 90°N @ 4MPD, while it lasts till 28/02/2020).

Investments

Savings

Retirement

Stocks Discussion

I always believe in the concept of Long term horizon timeline aka 长期饭票. Dividend stocks prices can go on a roller coaster ride during this long few years, but if the consistent dividend payouts is at least 4-5% of initial investment sum in a year, I think it is still good. Flatten our the rough waters and chart ahead.

Circles.Life

Please take note of the void between these stations for less than satisfactory experience with circl network coverage. 1. Between Little India and Farrer Park stations 2. Boon Keng Station
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