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Lee Chun Kiat

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Lee Chun Kiat

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Lee Chun Kiat

5Upvotes
  • Answers (15)
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Investments

Lee Chun Kiat
Lee Chun Kiat
Level 3. Wonderkid
Updated on 07 Jun 2019
You are asking if an investment which promises to double your capital invested every single year is a scam? if this is not a scam, you won't see uncle/auntie lining up at nutc fair price to buy TOTO...

Lifestyle

Family

Lee Chun Kiat
Lee Chun Kiat
Level 3. Wonderkid
Updated on 07 Jun 2019
I have encoutered a similar scenario, except that the troublemaker is my brother - not helping for houseworks, play games till mid night and shouting occassionally, etc. I send him few warnings and eventually asked him to move out - it is not a pleasant experience and I was blamed by my parents for doing so, however it turns out to be a good decision. My relationship with my brother becomes much better now after he moved out - probably he has more freedom outside and doesn't need to bear my nag anymore...

Retirement

Lee Chun Kiat
Lee Chun Kiat
Level 3. Wonderkid
Answered on 12 Jan 2019
My only regret is that I didn't plan my retirement 10 years ago when I started my first job, it is better to start now (or yesterday) than tomorrow... it doesn't mean that you have to compromise your lifestyle when you start planning your retirement now, it just means that you should have a clear long term goal and you start working towards it.

Savings

Lee Chun Kiat
Lee Chun Kiat
Level 3. Wonderkid
Updated on 12 Jan 2019
Save at your comfort level, however I always believe if one feels too comfortable then probably he/she is not saving enough, which is totally fine if you don't mind extending your retirement...

Lifestyle

Retirement

CPF

Lee Chun Kiat
Lee Chun Kiat
Level 3. Wonderkid
Answered on 12 Jan 2019
This is interesting, co-incidentally I have shared this hack in hwz forum yesterday. I believe the reasons people ignoring this “hack” are: 1) They prefer to YOLO first than delay gratification, after all the money will be locked for 25-30 years before it becomes a meaningful sum to be withdrawed (assuming you renounce citizenship). However, it is always too late when they realise that it is time to top up cpf, then they start to complain govt for not helping the poor, the rest are history. 2) They are afraid of govt will change the policy and ban lump sum withdrawa even you renounce citizenshi? 3) They are confident that they can beat the cpf guaranteed interest by investing themselves. While I do not deny that there is a small group of investors who has no problem generating better returns from investment, one must be clear about the difference of risk levels between cpf and investment. Many simply ignore the risk taken, while criticising that the biggest risk is govt (conspiracy theory yeah). What makes me wonder is that they rather “save” in structured note or endowment plan (not saying these are not good), than trusting the bond with AAA rating.

Salary

Savings

Loans

Investments

Lee Chun Kiat
Lee Chun Kiat
Level 3. Wonderkid
Answered on 08 Jan 2019
P2P is a high risk investment which you should expect 10-20% default rate (to be conservative). Unless you are already generating consistent profits for quite some years using the same method (which I don't you do), it is always not advisable to fund your investment with loans. Lastly, 4-6% additional profit doesn't justify the risk involved for such investment.

Investments

Lee Chun Kiat
Lee Chun Kiat
Level 3. Wonderkid
Answered on 07 Jan 2019
Please stay put with your current investment in SA, the market is generally bad across the board. Ask yourself this - if you pull the money out at 5% loss, do you think you are able to reinvest again when the market crashes 30%? The truth is most, if not all of us, are not emotionless, we will probably sit aside waiting for the "bottom", till the market recovered and missed the boat.... And we will tell ourselves that we will not miss the next crash, ended up buying at peak, and so on... Time in market is better than timing the market - just remember this and you will be fine.

Salary

CPF

Career

Lee Chun Kiat
Lee Chun Kiat
Level 3. Wonderkid
Answered on 07 Jan 2019
Why are you considering taking up a no-prospect-job netting

Career

Lee Chun Kiat
Lee Chun Kiat
Level 3. Wonderkid
Answered on 03 Jan 2019
I don't think you should stay as your boss doesn't realize how valuable you are - which will means you will "stuck" at your current pay / position before you send him another resignation letter as reminder... Nonetheless, it is worthwhile to work for another 1-2 months, at least get the variable bonus before you leave, this time round makes sure you secure a job offer before tendering. P/S: I would not be pleased if my boss said I don't deserve a pay rise.

Loans

Resale HDB

Property

Lee Chun Kiat
Lee Chun Kiat
Level 3. Wonderkid
Answered on 02 Jan 2019
When you refinance you can choose to the repayment period you want (subject to bank's approval of coourse). It is no difference than taking a new mortgage loan from another bank, except the fact that there are some fees payable to bank (usually subsidized if you loan is more than xx amount, but take note that the bank will crawl back this subsidy if you refinance again within
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Level 3. Wonderkid
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