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

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

  • Answers (1059)
  • Questions (4)
  • Reviews (2)

Stocks Discussion

Investments

No industry is "safe" because their stock prices would still fall in a recession. But typically more defensive industries like consumer staples, vice, and Healthcare would be less affected. I'd even throw in a spanner here and say the gaming industry may be resilient too. The same reason why vice companies do well due to the fact that its an escape, gaming might be the same.

Stocks Discussion

Investments

SG Budget Babe

Family

Investing is just another skill. I know many people picking up a musical instrument in old age, attempt at switching careers all together, and even learning a whole new language or two in hopes of migrating elsewhere. If you have the dedication and the hunger, you will find the time. Absorb information from all sources of media, written, audio, video, and try your hands at it. The great thing about investing, is that you don't have the Warren Buffet to make a decent return. Like learning the guitar, you don't have to be Carlos Santana to carry a tune.

SG Budget Babe

Credit Card

MileLion

I'm still a credit card virgin. Debit cards has been sufficient for me, and now with Grabpay and Grabpay Mastercard, I don't see the huge requirement for a credit card. Though they come with good perks in the form of cashback and miles, and also additional services like balance transfers, interest-free installment plans, etc, they're just miscellaneous and you can live without. I can handle my money well enough and even still, I don't like the idea of credit.

Investments

Robo-Advisors

I think 0.6-1.2% p.a of AUM as advisory fee is fair. I see some thematic portfolios charging a little higher due to the nature of research and active management required. I also think that if the portfolios managed are fixed income heavy or more conservative in nature, a reduction in fees would also be reasonable. Closer to 0.4-0.75%.

Investments

ETF

Stocks Discussion

It's 15% if listed on LSE instead of 30% listed in the US.

CPF

I'll assume you only have the earned income relief and the employee CPF contribution relief. So you have annual income of 54963. Minus 1000 for earned income relief and 10992.60 for CPF contribution relief, you'll end up with an chargeable income of 42970.40. This will atttract a tax of 550 for your first 40k and then an additional 208 for the rest. Totalling 758. Then there's the personal income tax rebate of 50% up to 200. So that's 558. If you reduce your chargeable income by another 7k by topping up your SA, you'll reduce your tax to 409. And then from the personal income tax rebate that's another 200 reduction. Ending up with 209. Saving you 349 in tax. Refer to https://www.iras.gov.sg/irashome/Individuals/Locals/Working-Out-Your-Taxes/Income-Tax-Rates-Foreigners/Sample-Income-Tax-Calculations/ & https://www.iras.gov.sg/irashome/Individuals/Locals/Working-Out-Your-Taxes/Income-Tax-Rates/

Lifestyle

I'll stay in at least a 3 star Hotel. I don't want my holiday ruined by bad accomodation. But since you're overseas to see the country and not the hotel, I'll spend more going out than staying in. Nice hotel, Singapore also have. ;)

Insurance

Investments

Investment Linked Policies (ILP)

Since you've been holding the ILP for 11 years, you're expected to reduce the insurance coverage and rely on the investment returns to take over the protection needs. This far into the policy, you've probably paid for most charges and are now getting bonus units everytime you invest. That's a guaranteed 6% extra allocation per premium paid. So just reduce sum assured one the cash value is sufficient and when the cost of insurance climbs too high usully after 55 to 60. If you want to do it now, you can get a term plan first. But it may not be cheaper than your ILP's insurance costs. Do take a look at your product summary for charges and the Cost Of Insurance Table.

Lifestyle

7th March. Whole day event. :) don't think tickets are out yet though.

Early Critical Illness (ECI)

Insurance

Critical Illness (CI)

What's your question Anon? I mean both brochures are available and you can take a look at them individually, unless you have something specific you'd like to compare between the two? Do update the question for clarification.
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