Leong Wen Fong
Community And Events Executive at Upcode Academy
295 upvotes received
About
Just a regular guy, on the same journey with you to explore the world of finance
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Community And Events Executive at Upcode Academy
Economics and Management at University of London
  • 127

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    Answers (127)

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    Questions (34)

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  • 15

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    Topics (15)

  • Asked by Anonymous

    Leong Wen Fong
    Leong Wen Fong, Community And Events Executive at Upcode Academy
    127 Answers, 295 Upvotes
    Answered 2w ago
    I think most of the community can agree on one mistake: Investing in something you don't know Beginners sometimes see "investing" as a way to make more money quickly (because of various reasons). Sometimes due to bad advice from friends, or other times due to simple hype, Beginners invest into something that is highly volatile and unknown - without fully understanding what they are getting into ahem crypto . There are many more simple general advice on Seedly to kickstart investing in a safer and more prudent way. However I believe this mistake is not only made by beginners, but even some more veteran investors. So, avoid what you don't know.
  • Asked by Anonymous

    Leong Wen Fong
    Leong Wen Fong, Community Lead at Seedly
    127 Answers, 295 Upvotes
    Answered 2w ago
    Hmm, don’t really agree with some parts of Enk Loui’s answer. Much of what I learnt on the Q&A is that it’s not really about how much you have before you start investing, but more like how well you are covered. Generally the advice is that you should at least have 6-12 months worth of expenses saved as emergency savings. If you are beginning to invest, I do feel that even if you have $100 spare a month, or $500 now, you can still invest using RSPs (Regular Savings Plan) or SSB. Granted, they may not have the best returns, but I assume from this question that you are just beginning to invest, and this is a good start. In fact, I recommend that you start sooner, and with a smaller amount. Let it kick start the habit of investing, rather than waiting for a big amount - it will be harder mentally then.
  • Asked by Kenneth Lou

    Leong Wen Fong
    Leong Wen Fong, Community Lead at Seedly
    127 Answers, 295 Upvotes
    Answered on 14 Feb 2019
    If I were the one spending, then definitely the picnic. I think staycation everywhere would be overpriced, and I rather save up for overseas holidays. Unfortunately there are not a lot of places in SG where you can actually see the stars. That being said, if it were sponsored then of course I'll take the staycation, cos I'm a #trueblueSingaporean that loves free stuff too
  • Asked by Leong Wen Fong

    Leong Wen Fong
    Leong Wen Fong, Community Lead at Seedly
    127 Answers, 295 Upvotes
    Answered on 12 Feb 2019
    Bye New Year Resolutions
  • Asked by Anonymous

    Leong Wen Fong
    Leong Wen Fong, Community Lead at Seedly
    127 Answers, 295 Upvotes
    Answered on 08 Feb 2019
    Of course not. Why should they be a market rate for giving to one another? If your rich relatives only want to give you $2, then so be it. Can you imagine if there was a market rate that everyone followed? Let's say your rich neighbour gave you $100, which is the market rate. How are your poorer relatives going to keep up with it? They either give you the $100 and suffer for the next few months (assuming they have to give other kids too), or give lower and feel guilty about it. Same goes for things like wedding. Honestly, if you want to throw a big/expensive wedding, you better be sure you can pay for it. Being one of the last to graduate out of University, I attended many weddings as a student/intern. How am I supposed to pay a $288 for a wedding lunch when I only earn $800? Or how am I supposed to pay for 2 wedding lunches of $188 each? I don't want to give because I fear what other think, but I want to give based on how much I am capable to love/help someone else.
  • Asked by Anonymous

    Leong Wen Fong
    Leong Wen Fong, Community Lead at Seedly
    127 Answers, 295 Upvotes
    Answered on 08 Feb 2019
    Not experienced in this area, but I can imagine that if I were your boss, and your role requires you to know the day-to-day happenings, or if it requres you to see things through, then I will be very unwilling to allow a sabbatical, especially after only 2 years of working there. It will be a real hassle to hire someone for the year that you are away, just to have him handover everything that was done over to you again. 3 months is possible, but then again, it depends on how fast-paced the company is, and how your role affects them. I think you have to ask yourself if you want to remain in that company, and whether you can still grow there. If you feel that it is time for a change, why not find work in Australia to experience what it is like there before continuing in another comapny in Singapore when you come back? You may experience more than what you have expected, and gain more insights than you would have perceived. All in all, it doesn't make sense for the company to reserve that position for you, and you shouldn't expect them to. However if you feel that it's time for a change, then go for it, and get a job in Australia instead
  • Asked by Anonymous

    Leong Wen Fong
    Leong Wen Fong, Community Lead at Seedly
    127 Answers, 295 Upvotes
    Answered on 07 Feb 2019
    Depends on what you mean by an "alternative form of investment". What you invest in always depends on your risk appetite, and how much effort you are willing to put in. Crowd funding is generally considered a more risky venture, although I know that Funding Societies are rather strict on their regulations, so as to make every investment safer.
  • Asked by Anonymous

    Leong Wen Fong
    Leong Wen Fong, Community Lead at Seedly
    127 Answers, 295 Upvotes
    Answered on 31 Jan 2019
    I don't really think taht SSB is "too good to be true" but I guess the main risk, is that if something happens to Singapore, then it will affect the SSBs that we have bought. However, this is quite a low risk, and thus SSB also has low returns (although recently they have gotten relatively high as "bonds")
  • Asked by Anonymous

    Leong Wen Fong
    Leong Wen Fong, Community Lead at Seedly
    127 Answers, 295 Upvotes
    Answered on 31 Jan 2019
    Hello! Not an expert here, but from my time in the community, I do often hear a few things: 1. Have you saved up enough to start investing? WHy I'm covering something so basic, is because many who want to start investing don't think of this step before jumping in. Not only does this help to ensure you have food on the table for the next few months at least, it also helps you with your investing mindset- imagine if you don't have money beyond your investment, the way you react to things will be much more emotionally driven. Many here recommend at least 6 months of your monthly expenses 2. Are you investing for the short term or long term? Depending on what you are going for, it will determine what instruments you use (bonds, REITs, etc) and what method to do the investment (DCA, one-time) But the idea is to diversify and spread your risk throughout your portfolio. If you want to find out more, you can read the many articles on Seedly blog!
  • Asked by Anonymous

    Leong Wen Fong
    Leong Wen Fong, Community Lead at Seedly
    127 Answers, 295 Upvotes
    Answered on 17 Jan 2019
    You can look at some of the reviews here! SInce you want more data, I actually recommend Circle's Life/ SIM only plans. However this means that you will have to pay full price for your phone, as the plans are rather cheap (currently paying 45-50 for 20GB of data) You may want to check this article out for more information!
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