Kaycee Tan - Seedly
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Kaycee Tan

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Kaycee Tan

  • Answers (18)
  • Questions (3)
  • Reviews (7)

Investments

Savings Accounts

Fresh Graduates

Savings

Lifestyle

What should I do next? I’m 24 this year. I believe you guys have answered similar questions like mine, but I'm kind of stuck and no idea what to do next.. Any advice please?
KT
Kaycee Tan
Level 4. Prodigy
Answered 2w ago
Hi Raphael, I am also 24yo this year haha. At least it’s not too late to start!! It’s good that you have settled your insurance and finish saving 1 year of emergency fund so your base is settled. I don’t recommend to put into fixed deposit as emergency funds are meant to withdraw during emergency and fixed deposit require to lock in for a period. You can look for high interest savings account. You can look into investment to grow your $$. I would recommend to DCA into Robo-Advisors for the start if you have no knowledge about investing or more risk adverse. Definitely read up more before you commit to anything!
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Savings Accounts

Savings

How do you manage your bank accounts? Do you keep your money in one or two accounts or segregate them based on different goals?
KT
Kaycee Tan
Level 4. Prodigy
Answered 2w ago
I have separate accounts to segregate them so I won’t mix my spending and savings account and I won’t have the urge to spend more than what’s in my spending account. When my income comes in, I like to pay myself first and I find it very useful. So after I pay all my bills, I will set aside around 40-50% to savings (some % goes to DCA in ETFs) and the remaining are left to spend. 1) POSB savings account (Expenses) 2) Standard Chartered JumpStart 1% (Savings) 3) SingLife 2.5% (Savings)
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PolicyPal

Term Life Insurance

Whole Life Insurance

Insurance

Hi there, I would like to check, am I better off buying Term Life Insurance instead of buying Whole Life Insurance? It is so expensive to pay for Whole Life Insurance. Any suggestions?
KT
Kaycee Tan
Level 4. Prodigy
Answered 2w ago
You have to also consider that Whole Life Insurance comes with cash value so it’s more expensive. It’s more cost effective with Whole Life in the long run, though you will feel the pinch of paying more for premiums every month. More than just considering the cost, you have to see if the plan is enough for your coverage. A reasonable coverage for life insurance is: 10x annual income in the event of death 5x annual income in the event of CI Your needs will change over time so you can buy a term plan to fill up those gaps.
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Investments

ETF

Bonds

Personal Finance 101

Bonds vs ETFs. Which to go for beginner investor and why?
KT
Kaycee Tan
Level 4. Prodigy
Answered 2w ago
I think it would be a good mix to have both in your portfolio. Bonds are generally stable and less volatile so if you intend to withdraw in a few years (< 5years), maybe bonds are better. But if you are intending to invest in long term (>10years), going for ETFs is a better choice. It will definitely outperform in the long run.
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Savings

Fresh Graduates

Financial Planners

MoneyOwl

I am a Fresh Graduate and interested in consulting a Financial Advisor/Planner. I did my research and found MoneyOwl's Comprehensive Planning. As it is 'FREE' for a limited time, should I go for it?
KT
Kaycee Tan
Level 4. Prodigy
Answered 2w ago
Hopefully your insurance is also covered! No harm going for it! But recommend not to commit anything in your 1st meeting. Usually we are paiseh to say no then we just sign whatever they recommend. Take back what you have learnt and do your own research. If need, you can consult a few other advisor and see which is more suited to your needs and whether you feel comfortable with him/her.
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Insurance

Early Critical Illness (ECI)

Critical Illness (CI)

Fresh Graduates

Whole Life Insurance

Term Life Insurance

Disability Insurance

Is my current insurance coverage enough?
KT
Kaycee Tan
Level 4. Prodigy
Answered 2w ago
I think you have to ask yourself why do you need a high coverage for? A reasonable coverage for life insurance is: 10x annual income in the event of death 5x annual income in the event of CI Would recommend to keep within 10% of your take home income!
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Robo-Advisors

Investments

What are robo-advisors and how do they work? How is it different from the traditional way to invest? Would I need a CDP as well? Many people seem to be advising robo-advisors but why?
KT
Kaycee Tan
Level 4. Prodigy
Answered 3w ago
Many people recommend Robo-Advisors as it’s for those who are new to investing and not sure how or what stocks to buy, or they don’t have much time to invest. It’s a passive investing. These are some articles you can read up about robo. https://dollarsandsense.sg/robo-advisors-in-singapore-what-you-need-to-know-before-investing/ https://blog.seedly.sg/singapore-robo-advisor-investment-comparison/
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Investments

Stocks Discussion

Online Brokerages

ETF

Robo-Advisors

To all new and seasoned investors, what was your first investment ever made, and how did you come across that decision?
KT
Kaycee Tan
Level 4. Prodigy
Answered 3w ago
First investment was DCA monthly into STI ETF. Back then I know nuts about investing and read up many articles about doing that for beginner so I did that.
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Investments

Online Brokerages

Personal Finance Books

Investment Courses

Any investment tips for newbies? I have sorted out my insurances and emergency funds with no debt. I'm ready to beginning my investing journey. How can I begin?
KT
Kaycee Tan
Level 4. Prodigy
Answered 3w ago
I recommend to DCA monthly into Robo or ETFs and while you are building up your funds, you can read articles/books to gain more knowledge on investing and from there you buy into stocks. But it also depends on how risk adverse you are.
👍 1

Investments

Stocks Discussion

Online Brokerages

How much did you guys start with in your investment journey?
KT
Kaycee Tan
Level 4. Prodigy
Answered 3w ago
I started with $300 a month into STI ETF and slowly what and how I invest changed, so I shift some funds into Robo and accumulate money to buy stocks
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