Jacky Yap
Level 4. Prodigy
‧ 37 upvotes received
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  • 9

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    Answers (9)

  • 2

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    Questions (2)

  • 9

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    Reviews (9)

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    Topics (6)

  • Asked by Anonymous

    Jacky Yap
    Jacky Yap
    Level 4. Prodigy
    Answered on 26 Feb 2019
    I'm using Saxo - been using it for years now. - Very low fees (USD3.99) per trade so if your trade is USD2000, the fees is roughly 0.2% - instant trades - Fund depositted reflects into saxo account quite fast - Made withdrawals before all no problem. Do note that saxo is a custodian account. :)
  • Asked by Anonymous

    Jacky Yap
    Jacky Yap
    Level 4. Prodigy
    Answered on 02 Oct 2018
    Hi there, actually i think the best thing you can donow is just, get a broker account, deposit 1k - 2k inside, and just buy any stocks (something that you can see / understand eg local banks / telcos / big global companies), and then you will figure out the rest. Even if you lose some money (lets say 10% on the 2k), it's probably a small amount ($200) considering the fact that this will make you take action today. the inaction today will probably make you lose out on more money (in terms of compounded return) in the long term. :)
  • Asked by Anonymous

    Jacky Yap
    Jacky Yap
    Level 4. Prodigy
    Answered on 31 Aug 2018
    DBS remit is quite good! :) + The rates are very competitive + there are no charges + same day transfer I'd recommend it if you are a DBS account holder. Personally tried it a few times already. Definitely better than having to head down to those physical 3rd party overseas remit counters. More details here: https://www.dbs.com.sg/personal/deposits/pay-with-ease/international-transfers Safe too since its by DBS
  • Asked by Anonymous

    Jacky Yap
    Jacky Yap
    Level 4. Prodigy
    Answered on 29 Aug 2018
    I think this is a question of rebalancing your portfolio. Here's how i split my holdings: Equity (Stock market) - Currently the highest because it is still at the tail end of the up market. I'm also trading in and out (for US stocks) instead of holding long term since the "crash" might come soon. Bond (SSB / CPF) - Relatively safe, dont have SSB but treating my CPF as my bond portion Cash - In a high interest rate savings account (DBS multiplier) You can rebalance the % of the holdings based on how soon you think the "crash" is coming. If you think it's this week, then maybe reduce the equity holding and put more into bond / cash. :)
  • Asked by Anonymous

    Jacky Yap
    Jacky Yap
    Level 4. Prodigy
    Answered on 27 Aug 2018
    Biggest expenses & how to reduce it: - Insurance (signed up for WL, recently changed to Term life, reduced monthly premium by 50% and coverage by a lot more) - overseas property mortgage (cant reduce it until it is done and rented out) - income tax (didnt optimize it last year, for income tax this year will look at CPF tax relief) - Rental (reducing it by using cardup, probably can enjoy a month's worth of rental after a year of using cardup) - meals (using the proper cashback cards - dbs live fresh for restaurants) A dollar saved is a dollar increase in net worth. :)
  • Asked by Anonymous

    Jacky Yap
    Jacky Yap
    Level 4. Prodigy
    Answered on 06 Aug 2018
    Turning 30 next year As of last month: 32% US stocks - High Risk 17% SG stocks and REITS - High Risk 19% crypto / p2p - Super High Risk 16% Cash - Low risk 16% CPF (bond component) - Low Risk Low risk component is about 30% of portfolio. As i age, more will be channelled from the super high risks high risk low risk.
  • Asked by Anonymous

    Jacky Yap
    Jacky Yap
    Level 4. Prodigy
    Answered on 27 Jul 2018
    Personally using Saxo. It's a custodian account - meaning you dont legally own the shares but Saxo owns it on your behalf. This is the risk you take in exchange for a lower fee - for saxo per trade is USD3.99. Other non custodian / CPD account charge like SGD15-USD25 per trade. I use Saxo to trade US stocks (capital gain portfolio) and then DBS Vickers to trade and hold local stocks (dividend portfolio). Saxo holds a capital markets services licence under the MAS so is regulated. Can just register online, meet the account manager to submit a few documents (20-30 mins) and then you will have you Saxo account where you can deposit your money, and use the money to buy shares globally (HK, Shanghai, SG, US etc). Easy no fuss set up, no lengthy forms to fill. Trades are instantly filled. Been using Saxo for quite long already - so far so good in terms of depositing money + executing trades. :) If you are looking to open an account, please let me know i have a referral code! fb.com/jackyyapp Market is volatile, stay safe!
  • Asked by Anonymous

    Jacky Yap
    Jacky Yap
    Level 4. Prodigy
    Answered on 18 Jun 2018
    hello! Yes i think it is ok. p2p lending is run by experienced team who will screen all the loans before they take them in and open the loans to public investors. im not in the p2p business but i think this is the process: 1) loan application by SME from P2P 2) P2P platform screens, does audit of the SME's business and determines risk and suitability + loan quantum 3) If business is sound, P2P approves the loan, if it is a bad business, P2P platform wont approve 4) Once loan approved, P2P platform publishes the loan and avails it for investment by public investor 5) public investor can take a look at the summary of the SME, the risk assessment and decides if he wants to invest in the SME's loan. So you can choose which business loan you want to back. And you can choose the amount. It is also in P2P platform's interest to ensure that the default rate is very low so that investors will continue to invest, because a bad apple will really break investor's confidence in the P2P platform. Funding society's default rate is <2% overall so is actually not that bad. For me, ive been on Funding society for almost 1 year now, no defaults so far. Returns should be around 7-9% after deducting the fees by funding societies. Overall experience is not bad, would personally recommend it for investors with medium to high risk profile. :)
  • Asked by Anonymous

    Jacky Yap
    Jacky Yap
    Level 4. Prodigy
    Answered on 14 Jun 2018
    Hello there, a lot of people will tell you to start reading up etc. that's a given. :) Let me share with you my personal experience, but this is by no means a formula or financial advise (im not affiliated with any financial institutions too). When i started to decide what to invest in, i first decided what is my risk profile. As an impatient guy, my risk profile is quite high, hence i dabbled into US stocks. US tech stocks have been going up so i was lucky to catch some part of it since i started a year ago. US stocks is probably one of the investment product with the highest risk (daily fluctuation of 1-5%). Understand that my investing journey will be 10-20 years, so i am more focused on building my capital now (because no money) - hence US stocks fits me best because it can provide a decent capital gain in a short period of time (can go both ways), and i can stomach the risk. Other products like ETFs, REITS etc, you can only see the return in 5-10years for the compounding interest to kick in. After putting in some money into the US stock market, i realize that i need to balance out my portfolio with lower risk investment products, hence i looked into funding society for p2p lending, and then a little bit in SG REITs to build my long team dividend portfolio. These are done using the capital gain from my US stocks, diverted into my smalll dividend porfolio (ie REITs). So to sum up: my first 2 years of investing: - US tech stocks for capital gain (super high risk) - balance risk of US tech stocks with p2p lending (medium risk) my hypothetical 2-5th year of investing (not there yet this is my 1st year only) - capital gain from tech stock slowly converted to SG Reits for future dividend portfolio (medium to low risk) my hypothetical 5th - 10 year of investing - slowly build up dividend portfolio and waiting for dividend to compound the returns (medium to low risk) - CPF should have some money (low risk) And the constant thing from start of investing: 1) Read up, follow financial bloggers 2) Save money 3) Reduce expenses (sometimes it is harder to think of how to make extra S$200 a month, than to cut down on S$200 a month in expenses, both resulting in +S$200 in wealth) 4) optimize on credit card rewards 5) be insured 6) always remember that this is a long game (10-20 years) At least that's the plan la hahah. kthxbye