Choon Yuan Chan - Seedly
Choon Yuan Chan

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Choon Yuan Chan

32Upvotes

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Choon Yuan Chan

32Upvotes
  • Answers (44)
  • Questions (2)
  • Reviews (23)

Career

Choon Yuan Chan
Choon Yuan Chan,
Level 4. Prodigy
Updated 3w ago
Truthfully, the civil service is a good place. As Gabriel has said the annual bonuses are a source of envy. Furthermore, you are a scholar and I believe this means you will be highly and with the potential of a quicker path to the top. This means a higher quantum of salary - work hard, earn more income to build your financial independence. To add the icing to the cake, the fact that you are interested in personal finance, and am part of the Seedly community, asking questions demonstrate your curiousity and interest to self-discover. This will bring you far in solving issues at work. <Written by someone inside and who thinks that the grass is not greener on the other (private) side>

Family

Property

Choon Yuan Chan
Choon Yuan Chan,
Level 4. Prodigy
Answered on 18 Oct 2018
If you intend to rent to cockroaches, you got a business plan!

General

Choon Yuan Chan
Choon Yuan Chan,
Level 4. Prodigy
Answered on 07 Oct 2018
Basic Accounting Course and Finance are good to take After which you can consider joining your Uni's Investment Club. I didnt join the investing club during my uni days though

Retirement

Choon Yuan Chan
Choon Yuan Chan,
Level 4. Prodigy
Answered on 06 Oct 2018
I would advise you to stick to POSB invest saver. Channel the funds into invest saver which you would have otherwise spent on retirement plans

Endowment Policies

Investments

Insurance

Choon Yuan Chan
Choon Yuan Chan,
Level 4. Prodigy
Answered on 06 Oct 2018
No, especially For endowments that requires you to be locked in for 30 years Using the oney to buy term/Index Funds/ SSB or even CPF SA would outperform such 30 year endowments. I would say no to any financial advisor who advses such long term endowments unless it can gurantee 4.75% returns

Investments

Choon Yuan Chan
Choon Yuan Chan,
Level 4. Prodigy
Answered on 29 Sep 2018
Spdr sti etf and nikko am etf. I will recommend the former because it mirrors the sti index closer and is not overweighted in one sector (banks) There is an abf bind etf. However i feel putting the money in Stu etf or cpf sa is better than the bond etf

Salary

Savings

Condominium

Property

Choon Yuan Chan
Choon Yuan Chan,
Level 4. Prodigy
Answered on 29 Sep 2018
Not advisable to rent a one bedder condo with your take home pay of 2600. Firstly rental will be close to 1k and you have to pay your own utilities. Use the extra money to accumulate wealth and buy a flat at the later stage of your life. (assuming you are Singaporean)

Savings

General

Choon Yuan Chan
Choon Yuan Chan,
Level 4. Prodigy
Answered on 23 Sep 2018
Remembering that for every dollar i spent, it could have been used to invest for a compounded returns of 5% annually. It makes me very careful with what i spend

Career

Choon Yuan Chan
Choon Yuan Chan,
Level 4. Prodigy
Answered on 23 Sep 2018
Pursue a degree (Computer Science/Business Analytics) in NTU/SMU

Coffee Meets Investing

Investments

Choon Yuan Chan
Choon Yuan Chan,
Level 4. Prodigy
Answered on 23 Sep 2018
As stated by fellow community members, build up your investment knowledge, there are a few financial bloggers who touch on personal fiannce and warn you on the trappings of Singapore society. Some of them include Budget babe and me (yours truly); however if you want in depth and comprehensive table form, you can consider investmentmoats by Kyith. He is very detailed in his write up and puts in mathematical concepts. As self advertisement: Below is my guide for young investors to know of basic finance http://investmoolah.blogspot.com/p/good-financial-knowledge-to-learn.html
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Level 4. Prodigy
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