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Leslie Koh

Helping clients achieve financial security by building a thriving community of consultants committed to doing the right things!

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Leslie Koh

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Associate Financial Services Manager at Prudential Assurance Company Singapore

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Helping clients achieve financial security by building a thriving community of consultants committed to doing the right things!

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Associate Financial Services Manager at Prudential Assurance Company Singapore

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Leslie Koh

Top Contributor

Associate Financial Services Manager at Prudential Assurance Company Singapore

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Milelion

Aik Kai has given a very good breakdown of how the spending will be like. Just to add on, do watch out for signup bonuses, renewal fees & loyalty fees. Here are some examples: UOB Prvi = 10K Miles Welcome Bonus, 20K Miles Loyalty Bonus with min. $50K spending within a year. Citi Premiermiles = 10,000 miles for paying the $192.60 annual fee DBS Altitude Visa Signature Card = Receive up to 38,000 welcome miles Do read their T&Cs to understand how to get the bonus miles & time your big purchases to maximize them! Happy miles-chasing!

Milelion

Credit Card

Citi PremierMiles Visa Card

Nope, it's not the best. The only key benefits for Citi PM is no expiry of miles and you can consider paying the annual fee for 10K miles. Currently, this is the 3 cards you should consider: UOB Prvi - 1.4 MPD for general spending, up to 4.4MPD for local bus and train rides via mobile contactless UOB Preferred Visa - 4MPD for contactless payment, capped at $1K OCBC 90oN Card - 4MPD for overseas spending, no cap until 29 Feb 2020

CPF

Leslie Koh
Leslie Koh
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Top Contributor (Oct)

Level 6. Master
Answered 2d ago
Yes, you are right. Here's the source from CPF website: In total, you can enjoy tax relief of up to $14,000 per calendar year (maximum $7,000 for self and maximum $7,000 for loved ones). Overall personal income tax relief cap of $80,000 applies for cash top-ups and voluntary contributions to CPF accounts.

Savings

CPF

Retirement

Personally, I would top up to my SRS first followed by donations. That's assuming your budget allows.

Investments

Insurance

CPF

Retirement

You cannot buy private annuities using CPF OA or SA . The only thing you can "buy" CPF Life. The only other fund you can consider using is SRS for private annuities.

Liberty Insurance MaidCare

Seedly

Hi Anon, I'm assuming that you're looking Liberty's MaidCare. Based on my understanding, 26 month's premium is higher than 14 month's. May I ask where did you see the said premiums?

Credit Card

Healthcare

Lifestyle

It really depends on which are you, a cashback or a miles chaser. Only then you will see which cards make more sense to you. For me, I'm a miles chaser. So I will recommend: DBS Insignia - 1.6 mpd UOB Reserve - 1.6 mpd Citi Ulitma - 1.6 mpd BOC EliteMiles World Master Card - 1.5mpd UOB PRVI card - 1.4mpd

Insurance

In order of priority: 1) Integrated Shield Plan with a Rider. 2) Illness Cover: Rule of thumb: 5x Your Annual Income. 3) Life and Disability Cover: Rule of thumb: 10x Your Annual Income. You can speak to anyone of us if you're keen to know more in detail what each category entails :)

Insurance

Family

Healthcare

Hi Anon, as mentioned by Josh, you can consider Raffles Shield. That is probably your only option. There have been many people with conditions to be accepted by them. However, the claims process has also said to have a long waiting time, and the claiming process has been tricky. To purchase any other life insurance or illness coverage for them will not be advisable if you're asking me. I would suggest that you save up on the premiums to self-insure them, meaning you pay for their medical bills. Because the premiums that you will have to pay for those life plans will be very expensive and might not be feasible for you to fund in the long run assuming you haven't taken care of your own. If you were to ask me, I would suggest that you spend the money to get yourself covered if you haven't done so. If the cost of health insurance is not feasible for you, I would recommend you to familiarise with the benefits of MediShield Life. They do provide decent coverage if you're staying at C Ward. Here's the link: https://www.moh.gov.sg/medishield-life/what-is-medishield-life/what-medishield-life-benefits Do reach out to any of us if you need any clarifications or questions!

Wedding

Milelion

Miles

Credit Card

Based on my experience, it will be categorised as F&B instead of Travel Category. Alternatively, drop a call with your banquet manager that you're liaising with, they will be able to confirm with you. Based current promotions, I think that Citi PremierMiles Visa Card has the best sign up promo: Receive 40,000 Citi Miles when you opt to pay 1st-year card annual fee & spend S$9,000 within the first three months. You should look out for this kind of sign up promotions and time your applications/payments to get the most out of it. You can also consider getting the Amex Platinum Card if you are having your wedding banquet at Mandarin Orchard. They are giving 10x points which can be converted to miles as well. Here's the link: https://www.americanexpress.com/en-sg/rewards/membership-rewards/award/Mandarin-Orchard/Earn-points-faster-at-Mandarin-Orchard-%28Banquet-only%29-with-EXTRA-from-Membership-Rewards/P-612704
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