Guo Hao Teo - Seedly
Guo Hao Teo

Personal finance enthusiast in Singapore

Guo Hao Teo

Self-Taught Enthusiast at Personal Finance

36Upvotes

About

Personal finance enthusiast in Singapore

Credentials

Self-Taught Enthusiast at Personal Finance

Guo Hao Teo

Self-Taught Enthusiast at Personal Finance

36Upvotes
  • Answers (33)
  • Questions (1)
  • Reviews (0)

Investments

ETF

Yes if you look at either Ireland domiciled ETFs like the IWDA, it is also another one worth considering The withholding tax will also be 15% instead of 30% Another way would be to consider robo advisors? They buy into these ETFs on your behalf.

Seedly

Mainly mobile for me because I use my expense tracker as well and check out the community page once in awhile to get updates on what the other members are discussing about! Questions seem to be repeating itself quite abit recently but overall good to see new faces in the community also.

Savings

General

I think everyone will have a different benchmark on how much is a good benchmark when it comes to saving up by 30 years old? For example there was some people who were fascinated by the $100k by 30 benchmark. But i believe that ultimately it is up to individuals to decide what level is best for themselves... I would think that: - having manageable debt (eg home loan) not huge credit card debt or loans - at least 6 months worth of savings for rainy day funds This is a baseline!

General

Career

Investments

You can try using Carousell? Start from there. It’s possible to actually find a ton of home bakers there selling their home made cakes and produce. Do check it out! I think until it becomes bigger, then you should consider getting the relevant licenses and filing with ARCA. Because administration can be a hassle.

Investments

Guo Hao Teo
Guo Hao Teo,
Level 4. Prodigy
Updated 3w ago
Yes this is possible. just simply work backwards: - understand how much you will need to survive (varies from singles to families) - plan out how much is a realistic return for dividend yield - most likey around 5 - 7% p.a - create a diversified enough portfolio for that amount Done. You can actually do this and i have friends also doing things like that in their 40s. By right they have no real need to work Only thing is to manage your cashflow well as dividends can be quarterly or yearly.

Seedly PFF 2019

General

Guo Hao Teo
Guo Hao Teo,
Level 4. Prodigy
Updated 3w ago
It was good really enjoyed the speakers who were sharing. Some pointers: - “Dividends are the opium of the capitalistic masses” - save and be frugal in your early years - stick to one investment strategy (eg value or dividend investing) and follow through

General

Seedly

Give good answers to the community and help those who need them. I would also recommend occasionally sharing your longer answers to your own network on fb or other socials to get upvotes. All the best and happy to be part of this helpful community also!

Insurance

H&S would make the most sense at this junction.. naturally premiums now would be higher. But also please hold on to that PA plan for as long as possible as accidents do happen at this age. Another thing I would advise you to do is to save up a bunch of capital and create a larger rainy day fund cos she may need it when the time comes.

Investments

Loans

SeedlyTV EP01

I would think that paying of your student debt would be the top priority. Because interest works both ways: - Up: When you have positive returns it will compound - Down: when you have debt, your interest of 1-2% will grow as well

Career

Guo Hao Teo
Guo Hao Teo,
Level 4. Prodigy
Updated 3w ago
Yeah I think this is seen to be quite common practice in most companies in Singapore? i.e between locals and foreigners it looks something like this for a same level manager. For a Local: - Gross: $3k - Take home: $2.4k - CPF Employee + Employer: $600 + $510 = $1,110 Total = $3,510 For a foreigner: - Gross: $3,510 Because they factor in that amount with the (20% + 17%) of gross salary which is quite a huge sum actually.
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Level 4. Prodigy
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