Hariz Arthur Maloy
Independent Financial Advisor at Promiseland Independent
Top Contributor

Top Contributor (Mar)

823 upvotes received
About
Helping people in their 40s optimise CPF and providing a guaranteed source of income for life.
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Independent Financial Advisor at Promiseland Independent
Business (Marketing) at Royal Melbourne Institute of Technology
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Top Contributor
(Oct, Nov, Dec, Jan, Feb, Mar)
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  • Asked by Anonymous

    Hariz Arthur Maloy
    Hariz Arthur Maloy, Independent Financial Advisor at Promiseland Independent
    Top Contributor

    Top Contributor (Mar)

    503 Answers, 823 Upvotes
    Answered 1d ago
    Financial products are like medicine. If they're simple, getting them from whatever pharmacy really doesn't matter. But if it's a little complicated, you want to consult a doctor for detailed advice. Same thing here. Choose your doctor, not your hospital/pharmacy.
  • Asked by Anonymous

    Hariz Arthur Maloy
    Hariz Arthur Maloy, Independent Financial Advisor at Promiseland Independent
    Top Contributor

    Top Contributor (Mar)

    503 Answers, 823 Upvotes
    Answered 2d ago
    Explicit costs, most probably. Even if both platforms use the same underlying instruments, robos would charge lower AUA fees especially for bigger portfolios. However, implicit cost, maybe not. Human advisors can add value by coaching you to stay invested and giving suggestions to top up your investments during a bear market, while robos won't really stop you if you panic and exit your positions. Sometimes the latter can be a bigger reason for your overall portfolio gains.
  • Asked by Anonymous

    Hariz Arthur Maloy
    Hariz Arthur Maloy, Independent Financial Advisor at Promiseland Independent
    Top Contributor

    Top Contributor (Mar)

    503 Answers, 823 Upvotes
    Answered 2d ago
    If you have zero background in investing, you have to decide first if you're planning to learn a lot and then DIY your investment. If you're not going to DIY, you can instead purchase a financial product. You can easily set up a portfolio using a Robo Advisor or a Financial Advisor. But still make sure that you know enough to understand and not go in blindly. Please also note that if you don't understand what you're investing in and why, you may make the common mistake of selling low when markets aren't in your favour. I would suggest that you start building a portfolio that pays some dividends immediately and also a portion of it purely for long term capital gain. As a single with no dependents and liabilities, you have the chance to build financial independence and retire a little bit more everyday until you build enough regular streams of income to replace your need to work.
  • Asked by Anonymous

    Hariz Arthur Maloy
    Hariz Arthur Maloy, Independent Financial Advisor at Promiseland Independent
    Top Contributor

    Top Contributor (Mar)

    503 Answers, 823 Upvotes
    Answered 2d ago
    Absolutely. Annuities are an important puzzle piece in a retiree's portfolio. And they are usually better when purchased earlier. There are many lifetime income annuities now that pay a % of your capital for life with 0 drawdown of your capital unlike CPF Life. If you'd like a comparison, do let me know. There are single premium ones, regular premium ones, different payout schemes, etc. I'll need to know what exactly you're looking for but I can show you all the products that are available in the market.
  • Asked by Anonymous

    Hariz Arthur Maloy
    Hariz Arthur Maloy, Independent Financial Advisor at Promiseland Independent
    Top Contributor

    Top Contributor (Mar)

    503 Answers, 823 Upvotes
    Answered 3d ago
    Having a $3m portfolio generating you 6% annual dividend. Nothing else will be passive. Trading is active. Having a $15k/mth job is active. Even renting out a property is active (finding tenant, home maintenance).
  • Asked by Anonymous

    Hariz Arthur Maloy
    Hariz Arthur Maloy, Independent Financial Advisor at Promiseland Independent
    Top Contributor

    Top Contributor (Mar)

    503 Answers, 823 Upvotes
    Answered 4d ago
    Contact your broker and sell your bond on the open market.
  • Asked by Anonymous

    Hariz Arthur Maloy
    Hariz Arthur Maloy, Independent Financial Advisor at Promiseland Independent
    Top Contributor

    Top Contributor (Mar)

    503 Answers, 823 Upvotes
    Answered 5d ago
    If you're bullish on the Asian equities, you can choose to keep them. But even if you do sell, where else will you put the money? If you're just going to hold cash instead, then it might be better to just stay invested.
  • Asked by Anonymous

    Hariz Arthur Maloy
    Hariz Arthur Maloy, Independent Financial Advisor at Promiseland Independent
    Top Contributor

    Top Contributor (Mar)

    503 Answers, 823 Upvotes
    Answered 5d ago
    You didn't mention your insurance, so I hope you have that settled. Hospitalisation, and a Income Protection plan in the event of Illness. After you have the basics settled and with the amount of monies in your EF, you should start investing. All the money you save right now should be deployed into a globally diversified portfolio. You can set up a few portfolios for short term, mid term, and long term goals. With no liabilities and a spouse, you can start working towards financial independence by adding more income from your investments that will help you retire a little bit more in a few years time until it fully replaces your income and your need to work.
  • Asked by Anonymous

    Hariz Arthur Maloy
    Hariz Arthur Maloy, Independent Financial Advisor at Promiseland Independent
    Top Contributor

    Top Contributor (Mar)

    503 Answers, 823 Upvotes
    Answered 5d ago
    Yeah imma need more info than that buddy. Maybe you could post your profile? Age, number of dependents, estimated annual income. It also shouldn't be term or whole life. But how much term and how much whole life.
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