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Good Samaritan

Hi! I am here to learn and at the same time answer any questions without biased viewpoint.

Good Samaritan

About

Hi! I am here to learn and at the same time answer any questions without biased viewpoint.

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Good Samaritan

  • Answers (12)
  • Questions (0)
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Lifestyle

Salary

Career

What can I do during my spare time at work to earn more money? Or should I look for another job that pays more, but has more stress?
Good Samaritan
Good Samaritan
Level 4. Prodigy
Updated on 07 Jun 2019
Hey there! Learn skills and take on freelance jobs! its never too late to learn something new..
šŸ‘ 0

Savings

Salary

Career

I'm almost 28yrs old but I didn't save any money at all. How can I manage my salary if I intend to save the money? What skills or jobs can I learn and work to earn extra income at the fastest way?
Good Samaritan
Good Samaritan
Level 4. Prodigy
Answered on 23 Mar 2019
Hey there! 1) Cut down your expenses and prepare home meals 2) Take on freelance work. You seem very fussy about pt jobs. Donā€™t understimate Grab deliver. They can earn more than $2k/mth. You may dislike it but simple as them can earn more than you! 3) Invest portion of your money. Returns will get in the future but definitely will benefit you You cannot belittle jobs such as tution and driver jobs! Did you know Tution in Singapore is increasing because Singaporean parents are ā€œFOMOā€. It is a billion dollar demand!!! Imagine GRAB. More of the business owners nowadays are using delivery platforms to get more sales!
šŸ‘ 0

PFF Panel 2

Property

Seedly PFF 2019

Is buying HDB a good first choice for new buyer? At the end of the day we return the flat to the govt.. Makes no financial sense to me
Good Samaritan
Good Samaritan
Level 4. Prodigy
Answered on 23 Mar 2019
Hey there! Yes definitely you should buy HDB! U can use it as an investment. Imagine you purchase the house for around maybe $170-$290k After 5 years, you can sell it off for around $350-$550 depending on the number of rooms you bought and the renovations done. Property in Singapore is forever a liabilities I agree but at the same time a good investment.
šŸ‘ 0

Investments

I am 19 this year and have about 10000 in savings. Any recommendations on how to diversify my investments?
Good Samaritan
Good Samaritan
Level 4. Prodigy
Answered on 23 Mar 2019
Analyze your own risk portfolio in investment first!! You have to ask yourself if you are a risk taker or not. If your investment had bad returns, what will you do? Are you able to sleep at noght comfortably if you lose a lot of money? Investment is all about risk. If you are not risk taker, its better to stick to those safer financial instruments! Or just get endowment plan
šŸ‘ 0

Lifestyle

Investments

I currently have 10,000 and I am trying to save up to 15,000 for my exchange in October. Are there any tips/investments to achieve this?
Good Samaritan
Good Samaritan
Level 4. Prodigy
Answered on 23 Mar 2019
Very short time frame to invest and grow into $15k!! Try to take up freelance work like Grab delivery. Normal part time jobs usually pay less than $15/hr! You need average $714/mth to achieve yout financial goal! If you have skills, find a freelance job that offers good offers. Its killing two birds in one stone. Not only you get to showcase your talent/skills, you also get to money!
šŸ‘ 1

Lifestyle

Savings

I am 24 this year and have been working for a year. I still have no savings and what amount should I start saving every month?
Good Samaritan
Good Samaritan
Level 4. Prodigy
Answered on 23 Mar 2019
Hi there! You can follow this formula 50/30/20 budgeting! - 50% goes to your ā€œEssentialsā€ like Bills, loans, food, parent support, etc... - 30% goes to yout ā€œPersonalā€ expenses like shopping, travelling, entertainmen, etc... - 20% goes to two funds - emergency and future funds. Emergency fun can be like $50/mth then for future funds is for your retirement, wedding, children education, etc.. Its good to buy savings from insurance company as they usually offer higher interest rate compared to banks, if you donā€˜t wish to manage them at all! I hope this helps ya!
šŸ‘ 2

Savings

Lifestyle

Investments

I am trying to save money and at the same time, spend money to hang out with friends and go out occasionally. Any tips on how to save money while having fun and having enough to invest?
Good Samaritan
Good Samaritan
Level 4. Prodigy
Answered on 23 Mar 2019
Budgeting is key! Before you spend you hard-earned money, set aside the money. 1)You can start by preparing your meals at home! It will really save you a lot of money than buying outside or using Grab delivery. 2)When you hang out with your friends, you donā€˜t have to go to expensive places! 3)Shop only when you need it not want to buy it. You can do window shopping! 4)Get an investment account. Allocate your money well. At the end of the day, you control what you spend. Donā€™t get influence by your friends to purchase impulsively!
šŸ‘ 0

Savings

How to choose a savings plan?
Good Samaritan
Good Samaritan
Level 4. Prodigy
Answered on 23 Mar 2019
Hi there! Start by having short term savings plan if you are worried about economic downturn in the future! If you found a job in the future, buy more savings plan that is long term. You can opt for those plans that has annuities or ā€œcouponsā€ that allows you to cash them with RB. There are also some insurance companies offers capital guaranteed! Do check them out or message me to find out more! Hope this helps
šŸ‘ 0

Investments

Insurance

Should I surrender my policy or keep paying $~810/year for endowment plan?
Good Samaritan
Good Samaritan
Level 4. Prodigy
Answered on 22 Mar 2019
Keep the endowment plan. If you want to get whole life plan, you can opt to get WL plan offers dividends payment with Rider ECI attached. Dividends are good to have as you can use the money to pay for the policy itself, at the same time enjoying the coverage.
šŸ‘ 0

Fundamentals

Investments

What are the basic things that I should know about investing before I start investing ?
Good Samaritan
Good Samaritan
Level 4. Prodigy
Answered on 22 Mar 2019
1. Have you set aside enough money for emergency funds? 2. Do you have the patience enough to wait average of 10 years before you can start collecting your the returns? Investment is a long term commitments 3. Do you want to manage your investment on your own or you want someone to manage for you? U can buy stocks market if you want to manage on your own or investments from insurance company who has fund managers to keep it watch for you. 4. If you want to get insurance coverage, purchase investment-liked policies. If you have a lot of time, you can opt to buy shares or stocks. Investment is the key to fight against inflation. Don't think about it and just invest portion of your money! In twenty years time, what you have now will be half of its value if you leave it at your bank. Start investing as early as you can...
šŸ‘ 1
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