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Evelyn

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Evelyn

  • Answers (20)
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Investments

Savings

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Evelyn
Level 4. Prodigy
Answered on 15 Oct 2019
You should! To diversify your investment! But you may not want to buy from the US itself because of the withholding tax and estate tax. You can consider buying ETFs that is Ireland domiciled. You can still get yourself exposed to US markets through buying Ireland domiciled ETF like VUSA for example.

Investments

Regular Shares Savings Plans (RSS)

StashAway

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Evelyn
Level 4. Prodigy
Answered on 15 Oct 2019
Agree with some comments here. A beginner can consider ETFs for passive investing, stock picking is a skill and requires a lot of time and effort to read up which mostly cannot afford to unless it’s their day job. StashAway will give you global exposure to the markets. However, eventually, you might want to move away from robo-advisor because the fees can rack up quite a bit when your portfolio is huge like in 6 digits? And by then, you’ve learnt enough to decide what a good global ETF is to you. You can now consider investing in STI ETF for the local stock market exposure. After which, if you wanna bring down the volatility of your portfolio, you should consider buying into local bonds like A35 or MBH?

Investments

Savings

Regular Shares Savings Plans (RSS)

STI ETF

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Evelyn
Level 4. Prodigy
Answered on 09 Oct 2019
Like what the rest has mentioned. It’s too risky to just invest in STI ETF only. You need some global exposure, you can consider IWDA(+EIMI for the emerging markets exposure) or VWRD or VWRA. Reduce the STI ETF amount and buy into one or two of these ETFs. The ratio all depends on your risk appetite. You can read up more online before buying them.

Investments

MoneyOwl

StashAway

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Evelyn
Level 4. Prodigy
Answered on 09 Oct 2019
1800 for fees is very expensive from what I’ve learnt so far. 3x12 monthsx1k=36k 1.8k/36k= 5% of your investment amount. I know it equates to 0 net costs, but it doesn’t guarantee you will get your returns right? If I were you, I will just park it in some high yield savings account like DBS multiplier. At least it’s guaranteed earnings as compared to buying UTs or ETFs. UTs and ETFs need a longer time frame for better returns, no? And I just googled a little bit more. InvestReady is ILP. Do correct me if I’m wrong. ILPs are probably not the best way to invest your monies

Mobile Plans

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Evelyn
Level 4. Prodigy
Answered on 30 Sep 2019
No contract SIM only plans are the way to go! Roaming wise, I think Starhub is good. I’ve been staying in the US for the past year and am still holding my Starhub card for OTPs, I can connect to the telco quite immediately. If you’re travelling a lot, why not check out their Apple stores? Like the US, it costs less to buy an iPhone here! That’s what I did too! :) iPhone 11 64 GB, is like few hundreds cheaper than in Singapore. And AppleCare is also cheaper too!

CPF

Money FM 89.3 Show

Savings

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Evelyn
Level 4. Prodigy
Answered on 11 Sep 2019
At the very least, transfer OA to SA till it reaches 40k! 25 years down the road, you’ll get more than 100k for that 40k! That itself is a big plus plus plus point!

Miles

Credit Card

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Evelyn
Level 4. Prodigy
Answered on 09 Sep 2019
Sometimes it’s also because SQ doesn’t operate a certain route so code sharing allows SQ to market those routes. When you’re redeeming miles, do take note if you have no choice but have to take a certain airline (due to SQ not flying there) or just availability issues. If your miles are not all in SQ yet, I would suggest you look at the different redemption rates of the airlines you’re interested in and the availability of the award tickets. Then transfer your miles to the ideal airlines. SQ award tickets can be quite hard to be redeemed.

Investments

Savings

ETF

STI ETF

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Evelyn
Level 4. Prodigy
Answered on 09 Sep 2019
Diversify? NIKKO AM STI ETF’s exposure is Singapore. I would think it would be a good idea if you can set aside another sum to do StashAway since it has exposure to the US and Europe markets. Or money is an issue, maybe you can halve or set aside from the money you’re investing in STI ETF to go into StashAway? Maybe 50%? Or even 80% if you are able to take more risks.

Savings

Bank Account

Retirement

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Evelyn
Level 4. Prodigy
Updated on 07 Sep 2019
Few questions 1) Is he still getting a salary? And how much? 2) does he use credit cards? And how much? 3) does/can he invest? 4) is he paying any bills (min 3) or through giro? Any of these questions above have a yes, you can look into... - SCB Bonusaver - DBS Multiplier - OCBC 360 Account - UOB One Account All these have calculators on the websites for you to calculate. If not, or you’re looking at purely saving, you can look into CIMB Fastsaver. If I’m not wrong, Maybank has something too. Or, if the money can be locked away? If yes, can look into CIMB Fixed deposit too! 1.7% for 3 months not bad I thought!

Savings

Salary

Lifestyle

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Evelyn
Level 4. Prodigy
Answered on 06 Sep 2019
Let’s work out the sums here: Salary ~2600 2600 - 700 (parents) - 650 (insurance) - 850 (expenses) - 500 (SIA) = - 100 How are you gonna save if you have -100 after investing in SIA? Are you banking on hopes that your STI ETF (3k) and SIA investments ($500 x 12 months x 5 years) to turn into 100k in 5 years? 33k into 100k? I don’t think so either and that is taking into consideration both are making profits in 3 folds. Or are you taking CPF into account as part of 100k? 2600 being your salary, I’m assuming that 20% has gone into CPF and 17% from your employer, that would be around 1.2k. 72k for CPF in 5 years and 30k from your SIA and 3k from STI ETF, yes, it’s possible to hit 100k. Once again, that’s assuming that your investments remains or goes above your principal amounts. Hope that helps.
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