Lim Chun Long Jimmy - Seedly
Lim Chun Long Jimmy

2-time AutoWealth quiz winner

Lim Chun Long Jimmy

Bachelor of Computing at National University of Singapore

85Upvotes

About

2-time AutoWealth quiz winner

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Lim Chun Long Jimmy

Bachelor of Computing at National University of Singapore

85Upvotes
  • Answers (67)
  • Questions (0)
  • Reviews (17)

Investments

If you're planning to start investing, there're many options and different asset classes to invest in. Investing via an investment-linked plan is not the only way. Some of the other options you might wanna look at are: - Robo-Advisor Wars: StashAway vs AutoWealth vs Smartly vs MoneyOwl vs EndowUs - Regular Shares Savings Plan: DBS vs OCBC vs PhillipCapital Together with an investment-linked plan, consider the pros and cons among the above-mentioned options and see which one or more of the following you would like to start investing with. I hope this helps.

Insurance

Investments

Savings

A good insurance agent has to have the following three I's: - Intensity - Integrity - Intelligence Oh, it's true, it's damn true! !
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Investments

Robo-Advisors

Lim Chun Long Jimmy
Lim Chun Long Jimmy, Graduate at Actions to Wealth
Level 5. Genius
Answered on 19 Jul 2019
Investing via a robo-advisor is worth considering, as it is an easy way to invest in a globally diversified portfolio of stocks and government bonds. Mainly, the investor will open a custodian account and fund the account, and the robo-advisor's software will manage the portfolio. To add on to Thaddeus's answer, there is a new robo-advisor in the market called Syfe. Check this out.

Lifestyle

Career

Lim Chun Long Jimmy
Lim Chun Long Jimmy, Graduate at Actions to Wealth
Level 5. Genius
Updated on 18 Jul 2019
It's not overrated, as life is not all about work. It's all about one's life priorities including but not limited to: - Work - Family - Friends - Health - Finance "Dig your well before you're thirsty. Early retirement is the dream."

Credit Card

Miles

Lim Chun Long Jimmy
Lim Chun Long Jimmy, Graduate at Actions to Wealth
Level 5. Genius
Answered on 04 Jul 2019
If you're someone like me who seldom travel overseas, then cashback credit cards would be more suitable for you as compared with airmiles ones.

Career

Lifestyle

Lim Chun Long Jimmy
Lim Chun Long Jimmy, Graduate at Actions to Wealth
Level 5. Genius
Updated on 03 Jul 2019
I almost joined a particular MLM scheme (not gonna mention company name) back when MLM was new to me. The company did not change its name frequently, and they call themselves entrepreneurs as they are officially called IBOs (Independent Business Owners). In most cases, how MLM works is as follows: 1. You'll be invited by someone to a motivational seminar. 2. During the seminar, if you decided to join the scheme by paying a joining fee, you'll be recruited under someone's downline in a LOS (line of sponsorship). 3. After you're recruited, there is a compulsory minimum monthly purchases you need to make to keep yourselves in the rewards systems and accumulate some points. The points will "expire" if you do not do so, so you need to purchase more to keep the points alive. The prices of the purchases are usually marked-up at least 2 to 10 times so that the profit margin will be used to distribute incentives to the LOS. 4. Your upline will encourage you to recruit as many people as you can, as your downline by having them do steps 1) to current step. 5. The LOS is structured such that, the higher you are in the LOS, the more overriding incentives you will get over time. 6. Very few are at the top of the LOS such that the passive income in the form of incentives is sustainable to afford a luxurious lifestyle. By Math, if you managed to have 5 downlines, and each of your downlines has 5 downlines recursively from level 2 to level 7, the total strength is already about 1% of Singapore's population. Not many are able to recruit and build that number of people in their LOS. Regarding the flaunting of expensive cars, you will never know if the car is: - owned or rented, - paid in full or with mortgage. One can easily staged this by renting an expensive car and engaging a professional photographer, to create a FOMO effect while spending less.

Insurance

Lim Chun Long Jimmy
Lim Chun Long Jimmy, Graduate at Actions to Wealth
Level 5. Genius
Answered on 21 Jun 2019
Can say something like, "I already have existing servicing agent(s) and have no intention to change to another. Thank you.".

Seedly PFF 2019

Investments

Savings

CPF

Insurance

Invite speakers representing rental income line, such as: - Troy Sadler or Samuel Hardwick from Art Works Singapore - One or more speakers representing property investing !
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Seedly

Lim Chun Long Jimmy
Lim Chun Long Jimmy, Graduate at Actions to Wealth
Level 5. Genius
Updated on 07 Jun 2019
Excellence of Execution The People's Champion The King of Kings D-Generation X Bitcoin HODL-er Lambo Driver

Investments

Lim Chun Long Jimmy
Lim Chun Long Jimmy
Level 5. Genius
Updated on 07 Jun 2019
Another factor to consider is whether the time needed to trade fits into your lifestyle. For me, as I am a day-person (morning lark), I prefer to trade Forex instead as I can trade it in the morning and the afternoon, for 30-60 minutes per trading day. Trading US Options requires you to trade at night when the US stock exchanges are open (from 9.30pm or 10.30pm depending on daylight savings). It suits well for night-person (night owl). Hopefully this can help you decide whether to trade Options or Forex, or even both.
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