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Leong Wen Fong

Just a regular guy, on the same journey with you to explore the world of finance

Leong Wen Fong

Relationship Manager at Aspire

About

Just a regular guy, on the same journey with you to explore the world of finance

Credentials

Relationship Manager at Aspire

Leong Wen Fong

Relationship Manager at Aspire

  • Answers (139)
  • Questions (36)
  • Reviews (0)

Lifestyle

Leong Wen Fong
Leong Wen Fong, Relationship Manager at Aspire
Level 7. Grand Master
Answered on 11 Oct 2019
Unlikely to happen, because you basically have to pay for the token itself. I do find that if you sign up as "corporate", the rates are better - about $10-$15 a month cheaper for the 12-months contract, and I think the token is cheaper as well. I think it's quite easy to get the corporate deal because we didn't come as a company or anything, but we just said we worked nearby, and they allowed us to register under corporate

SeedlyTV EP07

P2P Lending

Leong Wen Fong
Leong Wen Fong, Relationship Manager at Aspire
Level 7. Grand Master
Answered on 02 Oct 2019
Usually, for P2P, you are required to put 1 guarantor, which would usually be yourself - that means in the case where the company has no funds, you are the one who is supposed to use your personal funds to return. I assume you already know all these - so what happens when you can't pay back? It depends on the loan amount usually - there is a chance where you will face legal action. it all depends on the amount, and whether the company thinks it's worth going through the legal route to claiming back their money. Either way, your CBS rating (Credit bureau) will take a hit, and you will not likely be able to secure loans in the future.

Lifestyle

Loans

Career

Investments

Leong Wen Fong
Leong Wen Fong, Growth Manager at Trive Venture Capital
Level 7. Grand Master
Answered on 25 Sep 2019
Hello, I've worked in a VC and currently in an alternative credit solutions. I can tell you immediately that in terms of working capital, a loan works better than a VC investment. Loan structures depend on what type of loan you are seeking, and the interest rate would likely be determined only aft the risk assessment has been done on your company. I cannot give you a definite answer on this, but if you want to know more, you can drop me a message, as I am currently handling all the e-commerce loans from my company. alternatively, if you want to check things out on your own, head over here!

Salary

Career

Leong Wen Fong
Leong Wen Fong, Growth Manager at Trive Venture Capital
Level 7. Grand Master
Answered on 25 Sep 2019
Honestly, there's far too little information to go along here - you might as well ask "Am I on track to be a millionaire?" Opportunities and growth are different for different industries and job roles. As with your current title and experience. Roles ranging from marketing, design, analytics, engineers - all have different growth paths and different starting salaries. Industries from finance, logistics, retail - all offer different types of remuneration and again- future opportunities. Also, no one can tell whether you are on track to earning 4k or not if you don't let us know what your current salary and experience. One general tip I can tell you is that you are not obliged to disclose your past salary to your prospect employer - so use that to your advantage. So how much increment is really up to you, and how capable you can appear to your possible future employer

Career

Leong Wen Fong
Leong Wen Fong
Level 7. Grand Master
Updated on 30 Jul 2019
Depending on how much time you have, and where your knowledge lies, there are many side hustles you can do: 1. Sell things on Carousell If you have things to sell, or even are willing to buy things in bulk to resell, then this could work for you. However, you will ahve to think of ways to get cheaper material to sell, and think of a way to make yourself different from others selling similar products 2. Teaching tuition One of the most common side-hustles.It is also one of the ones that helps you to earn the most. Depending on the level and subject, you can easily earn more than $200 a month, by teaching only 2 hrs a week. there are also many platforms which help you to facilitate the finding of students. Of course, word-of-mouth is always the best way to be able to gain more customers of you want to earn more. 3. Micro-influencing It's not known to a lot of people, but there are companies that actually facilitate people who have a following of 500 and more, to advertise their products. You earn about 20-30 cents for every engagement on your post, but it's a low effort for some extra cash. It's quite prevalent in HK, and one of them, called Spread-It, is actually coming to do it in Singapore as well. 4. Freelance projects Be it design, or marketing plans, or any skills that you have, there could always be people who are interested in them. All you have to do is to find the community that hosts these kind of people who are seeking different types of talents

CPF

Savings

Regular Shares Savings Plans (RSS)

Investments

Leong Wen Fong
Leong Wen Fong, Growth Manager at Trive Venture Capital
Level 7. Grand Master
Updated on 23 Jul 2019
I think you have already answered your own question. It depends on the purpose of these funds- are there for the long term, or the mid-term? CPF in a sense is a commitment, and a long one at that. The power of compounding interest is really amazing if put for so many years, as long as it's not money that you need in the midterm - like for education etc. The best would probably be a mixture of both, but as always, it depends on your individual situation - whether you have enough on the midterm to think about the long term

SeedlyTV EP07

P2P Lending

Leong Wen Fong
Leong Wen Fong
Level 7. Grand Master
Answered on 13 Jul 2019
NO expert here, but I think they would have to go through licensed money lenders - not entirely sure where these money lenders get their money either, but they charge a really high interest rate. If all else fails, they probably borrow from unlicensed ones, or take personal loans, or borrow from friends. Which then leads to all the typical drama-type scenarios that you see on channel 8

REITs

Investments

Leong Wen Fong
Leong Wen Fong
Level 7. Grand Master
Answered on 12 Jul 2019
If you are not sure on how to do it, but want to get into it, then the obvious next step is to invest in your knowledge about it first. Take up some classes about investing, learn about what your risk appetite is, and make an informed decision from there! From your previous investments, it would seem that you are more risk adverse, and dont have a lot of knowledge, so I think ETFs are the way to go for now! If not, I think that you might want to consider putting some into your CPF SA, that being more focused on retirement funding, and for an almost risk free investment, 4% is quite a huge amount of returns!

Career

General

Leong Wen Fong
Leong Wen Fong
Level 7. Grand Master
Answered on 12 Jul 2019
Keep asking her to treat you then - since she like to show it off, she can show it off through her actions! Stop asking her to terat you when she stops showing off her salary!

Investments

Leong Wen Fong
Leong Wen Fong, Community Lead at Seedly
Level 7. Grand Master
Updated on 07 Jun 2019
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.
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