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

Top Contributor

Top Contributor (May)

Independent Financial Advisor at Promiseland Independent

494Upvotes

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

Business (Marketing) at Royal Melbourne Institute of Technology

Hariz Arthur Maloy

Top Contributor

Top Contributor (May)

Independent Financial Advisor at Promiseland Independent

494Upvotes
  • Answers (685)
  • Questions (4)
  • Reviews (0)

Resale HDB

HDB BTO

CPF

Insurance

Brian answered Level Term vs MRTA/HPS. But if you're only considering a private MRTA vs HPS, then I suggest looking at the private policy because you pay HPS with your OA which could've been generating 2.5-3.5% interest annually. I'd opt out of HPS when I can after purchasing additional cover either via a Level Term or a MRTA. HPS isn't actually even the cheapest policy available. It's a little pricey compared to private policies when you're younger.

Investments

Stocks Discussion

Yes same rules apply when purchasing a foreign ETF. Just need to find a distributor platform that provides it. Do take note of the withholding tax like your equity investments. If they pay more dividends, you pay more tax, this is especially concerning for distributing bond funds.

Investments

General

The simple answer is increase your portfolio risk. This would give you an increased expected return, but of course that's no definite. This would mean concentration over diversification (owning 30-50 stocks instead of 500-1000), investing in small cap and value over large cap growth stocks, increase exposure to emerging market equity and fixed income which would mean buying High yield bonds. Reinvest all dividends, buy more every 10-20% dip, take an active instead of passive approach. On top of this, you can look to incorporate derivatives trading, forex trading, leveraged positions. All the best.

Insurance

Term Life Insurance

Early Critical Illness (ECI)

Critical Illness (CI)

This would answer your question. If you only discovered at late stage, Living Care Plus will not pay out. This is unlike private insurance ECI definitions and payout. !
Answer image preview

Investments

Savings

You can start by gaining some knowledge on investments and asset classes. Knowing how to invest may not mean that you choose to DIY your investment. It just means at least you know what sounds right and what sounds wrong. After that, if you choose to DIY, you can start purchasing stocks and funds by yourself. If you choose to get someone else to invest for you, you can work with a Financial Advisor either through digital platforms with the Robo Advisors or with a traditional advisor like myself. Either way, you should be investing or creating a globally diversified portfolio, across asset classes, geographies, and industries. Stay invested, and invest for the long term.

Insurance

Take the loading offer and in fact, buy more cover. Insurance premiums are priced on statistics and probability. The reason they asked you to pay 50% more is because you have a 50% higher chance than your peers to claim for the benefit you're trying to cover. If you purchase a 5 year term policy and the conditioned worsened, you may be totally declined when you try to renew or reapply for another policy. If you take the offer now and it worsens after 5 years, at least you still have coverage and you'd be thanful for making that wise decision 5 years ago. And if it really gets better, then awesome,you pay less premiums.

Insurance

Health Insurance

Absolutely. If you fall ill right now, you'll get treatment from a Singapore Hospital. The limits on Malaysian Medical Cards are usually about 100-250k SGD while an integrated shield plan here is easily 500k-1.5m depending on the type of benefit you want. You can get that shield plan as a foreigner from a few insurers. I suggest checking out NTUC, Raffles Shield, and AIA. Speak to an independent advisor like myself to understand how the policies work and get a comparison for those that offer their policies to foreigners. :)

Loans

Investments

I'll pay off anything that is costing me 4% or higher. If not, I'll invest because I am confident in growing that money at a higher rate than 4%. Being debt free is a little overrated. Some debt is ok and shouldn't be rushed to get cleared like your mortgage.

Stocks Discussion

Investments

Savings

I suggest to skip the STI ETF and go straight for a global portfolio. And if you're investing for the long run, don't think about taking profit in the short term. Just keep investing and stay invested. Take out money when you need (which should be many many years in the future). And lastly for REITs, if they're listed on SGX, can buy direct. If intl stocks, you'll need a broker and your monies will be held in a custodian like your Robo funds.
Load more questions
Level 7. Grand Master
494UpvotesGoal 500
6 UPVOTES TO LEVEL UP
Browse Rewards
Top Contributor
Top Contributor
OCT · NOV · DEC · JAN · FEB · MAR · APR · MAY