Hariz Arthur Maloy - Seedly
Hariz Arthur Maloy

Helping S'poreans in their 40s optimise their CPF and prepare for retirement by providing a guaranteed source of income for life.

Hariz Arthur Maloy

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Independent Financial Advisor at Promiseland Independent

587Upvotes

About

Helping S'poreans in their 40s optimise their CPF and prepare for retirement by providing a guaranteed source of income for life.

Credentials

Independent Financial Advisor at Promiseland Independent

Hariz Arthur Maloy

Top Contributor

Independent Financial Advisor at Promiseland Independent

587Upvotes
  • Answers (777)
  • Questions (4)
  • Reviews (0)

Investments

I don't think Singaporeans are allowed to use RobinHood if I'm not wrong.

Investments

Actively managed fixed income funds tend to outperform their ETF counterparts by a considerable margin. Thus, I'd suggest a Global Fixed Income UT over an ETF in this case. At the same time, do get the SGD Hedged share class to reduce currency risk. And even with Fixed Income, you can choose to split between a Investment Grade Govt bond fund, Investment Grade Corporate Bond Fund, and a global High Yield bond fund to have more exposure to what the asset class has to offer.

Family

Retirement

Lifestyle

It's great that such platforms exist for people to get advice from a community of like minded folks. But for cases such as yours, I'm sure a trusted individual that is licensed to help take a closer look and plan with you would be more fruitful. I suggest finding an Independent Financial Advisor, as well as a Property Agent to work with you closely to help you path out your next 30 years. There's too much to get into online without knowing much more from you guys. All I can provide are guidelines and rules of thumb, but I'm sure you'd do better with in depth advice.

Robo-Advisors

It's in the name. Advice. If you don't need advice, don't pay for it. If you need advice, pay for it. Someone will tell you what to buy, buy it for you, and manage it for you for a fee. If you don't need advice, DIY, and save on the advisory fee.

Investments

So you've invested 11 months. Started with 5.6k and added 2.2k over the period? That's a 5.589% p.a yield. Present Value: 5600 Payment: 200 Future Value: 8145.61 Periods: 11 Months Annual Rate %: 5.589

Insurance

The typical issues with group policies are that they don't belong to you, you don't own the policy. This means you're subjected to changes by insurer or policy owner, inability to nominate a beneficiary, and some clauses may be different such as survival period of 30 days for CI unlike 7 days for private policies. However this doesn't mean group policies are bad, in fact they should be abused, preferably maxed out, but do have some private cover as well, especially for CI.

Insurance

The general rule of thumb would be 10 X Annual Income in the event of Death and 5 X Annual Income in the event of a Critical Illness. So if you make 100k a year, that's 1m and 500k respectively. This is a guideline and would change slightly from family to family. So do speak with a financial advisor to run the numbers if you want a deeper look, but if not the rules of thumb work well enough.

Insurance

Your policy right now is almost entering it's 30 yr period. This means that it would have broken even by now and everytime you pay a premium, the policy could be earning a 6-7% return. Because there's a compounding effect on the policy, I suggest you calculate the projected year on year returns from this year onwards. It may be the best low risk product to own at the moment.

Insurance

Investment Linked Policies (ILP)

You can increase the sum assured to the highest allowed on the policy and opt to increase the premiums as well. Do call in to Pru to get an idea of all your options. Do note that the downside of treating the policy only for it's protection element is that the increasing Cost Of Insurance has to be maintained. This means constantly topping up premiums every year after age 60 or so to maintain coverage. The point was to have your investments at this time be able to pay for your increasing Cost Of Insurance. So if you aren't going to do that within the policy, you have to make sure to do it outside the policy with your own investments.
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