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Saving and investing for exploring makan places, faraway places, onsen soaking, and wonderful experiences.

Lee Kong Heng

Biotechnologist at RSTO Pte Ltd

About

Saving and investing for exploring makan places, faraway places, onsen soaking, and wonderful experiences.

Credentials

Biotechnologist at RSTO Pte Ltd

Lee Kong Heng

Biotechnologist at RSTO Pte Ltd

  • Answers (15)
  • Questions (1)
  • Reviews (3)

Lifestyle

Career

FIRE Movement

In your life, what "excites" you so much that that you, need not be told, need not feel obligated, that you do it automatically without fail as if you're driven by purpose, as it fun and meaningful to you? You can take it as a fun journey to define your own life or find out what is it all about. Since you do have time before you FIRE. Set yourself out now to discovery new horizons (hobbies or venture, people, etc) - is it what you really want, does it set your purpose or passion like a raging inferno!! That probably be a Bingo! But please... whatever you do, don't get yourself into "FIRE", ahem the bad one... aka - HOT SOUP/ TROUBLE šŸ™ It is your life's journey to find out, I guess. Well done on your journey thus far, and ganbatte!

Lifestyle

Career

Savings

Education

$2.2k after CPF may be a bit bearable. But since it is before CPF, you probably be contributing $440, and that leaves you a net pay of $1760. Based on the CPF calculator: https://www.cpf.gov.sg/eSvc/Web/Miscellaneous/ContributionCalculator/Index?isFirstAndSecondYear=0&isMember=1 700/1760 100%= 39.7%, that is almost 40% of your net pay going to rent alone. That leaves you $1060 at hand, after deducting your monthly or average expenses and commitments, would the remaining balance be sustainable, and comfortable to you? Are there other places or options that may perhaps offer a lower rent that you'd be willing to consider?

Investments

If I'm not mistaken a custodian brokerage accounts fees are much lower, around minimum $10 per trade vs minimum of $25 for CDP linked accounts. The following be my opinions: CDP linked account is a must, should one values the right to attend AGMs, and interact with management or the board and vote on the boards decisions. It does seem to imply investors may favour such accounts. Custodian linked account would be for people whom value low cost, especially traders whom frequently trade the market, a CDP linked account would present a cost disadvantage them... or, the penny-pinching long term investor seeking to maximize returns at the lowest cost. As for me, i think i be using both soon. Usually I'd buy with CDP linked account and will sell with a custodian linked account.

Investments

Stocks Discussion

Yes, you can. You need to link your CDP account to your FSMone account by downloading a form, completing it and mail it to them. Please check the faq below: https://secure.fundsupermart.com/fsm/advice-services/faq/1956/

Savings

Investments

Singapore Saving Bonds (SSB)

LK
Lee Kong Heng
Level 4. Prodigy
Answered 2w ago
It does take time to have a feel of the ground (markets or products) and understand your own nature when investing. Am still learning myself, from.others too. Keep it up, and ganbatte. As to your question, putting your money in SSB is a wise or prudent choice. I do park my cash (after emergency funds) and SRS funds in SSBs, letting them earn higher interest while awaiting opportunities. Assuming you have no pressing debts or immediate financial commitments, consider: 1. Your reaction to perceived loss or volatility in asset price e.g. Shares. 2. Your goals for deploying your funds, and when you be needing it potentially. 3. How well you understand the nature of your investment (e.g. risk, fees, company accounts, etc) For example, say I can't handle well the drop in share prices that it will drive me nuts and I'm prioritizing my retirement - topping my SA, MA is an option (plus: you get tax relief too). Or, you have some tolerance to volatility and want to invest in the markets, but don't know how to assess companies - low cost ETFs, Rabo-advisers, RSPs (POEMS, FSMone, DBS, OCBC, Dollardex) via daily cost averaging is an option. Buying shares or Reits enables you to attend AGMs, ask management questions on their business and plans, or perhaps enjoy the annual buffet spread too. It can be a potential emotional ride, especially when buying the wrong company. So if you be intending to test the waters, I suggest starting small or within your means (e.g 1 lot or 100 shares) for such privilege, and buying a business that is sustainably profitable over the long term, not something speculative. Please do your own diligence when undertaking this route.

InstaReM

Travel

Multi Currency Cards

Not sure yet. Only says, it is coming soon from the app. Speculation wise - coming December or January?

Savings

Family

1. Annalakshimi Restaurant @ 20 Havelock Rd Note: Pay as you wish Other affordable buffets: 2. Lotus Vegetarian Restaurant @ Hotel Quality Marlow, 201 Balestier Rd, 3. LingZhi @ 541 Orchard Rd, #05-01, Liat Towers 4. Genesis Vegan Restaurant 5. Vegetarian Villas @ 479, Jurong West Street 41 6. Vegan Curry Rice with Mother Earth @ Blk 352, Clementi Avenue 2 7. Onn Vegetarian @ Blk 5, Upper Boon Keng Rd (Beside NTUC) Do follow Hungry Ang Mo's facebook page for new recommendations.

Stocks Discussion

Investments

It is a cost effective way increase share holdings over time, but not all companies have that option. Some ETF like IWDA reinvest their dividends, if i understand correctly. I chose to receive dividends as I did not want to deal with odd lots. On hindsight, I'm not deeply familiar with the companies business model nor confident with high certainty on its growth in value over time while i was holding the shares. Made the mistake of chasing high yield dividend stocks.

Savings

General

The fun version... 1. Semi-hikikomori... No need to catch, but get me out if you can. 2. Semi... Scrooge McDuck, and no YOLO. 3. Single. 4. No children... but my parent. 5. Too many encouragement by married male friends to remain single... WTH!?! 6. No BTO/Condo... but i got a REIT! 7. No car... but BUS and MRT that works - FTW! Earnest version: Passion for saving, investing money and living within ones means. Simple and uncomplicated lifestyle.

Family

SG Budget Babe

Does sounds like as soon as they can reason or comprehend it be good time to start. Yet before that, good money or financial behaviours can be encouraged or inculcated, perhaps subconsciously. For some example, not pandering to whims for instant gratification, working or earning for owns want/needs, and the joy of pocket money, patience and savings towards medium or long term goals, think and check before handing over the money, etc. My dad, never taught me about banking (if i remember correctly). I doubt I would get it as a kid then. What I remember though, he bringing me to open a savings account, and depositing my ang pow money each year. That ingrained my savings habit, as I got a kick and fun out of it - seeing my savings grow over time.
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Level 4. Prodigy
60PointsGoal 125
65 POINTS TO LEVEL UP
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