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Loo Cheng Chuan

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Loo Cheng Chuan

Founder at 1M65 Movement

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Founder at 1M65 Movement

Loo Cheng Chuan

Founder at 1M65 Movement

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Personal Finance 101

CPF

Retirement

Loo Cheng Chuan
Loo Cheng Chuan, Founder at 1M65 Movement
Level 6. Master
Answered 3w ago
SA for a simple reason. The interest earnings of SA stays in SA and compounds at 4-5%. The interest of MA, beyond the cap, which I think is S$60k now, will flow to SA, and if SA cap is reached, will go to OA, which yields only 2.5%.

Personal Finance 101

Investments

Stocks Discussion

Loo Cheng Chuan
Loo Cheng Chuan, Founder at 1M65 Movement
Level 6. Master
Answered 3w ago
Generally, i would start going in as the market crashes by 20% and pick up pace if it crashes by 30%. 40-60% crashes are rare, and if it does, I would empty my dry powder like I did in 2012 and 2015.

Savings

Bank Account

Loo Cheng Chuan
Loo Cheng Chuan
Level 6. Master
Answered on 10 Jun 2019
People with high salary not necessarily equals to people who are rich. Many people with high salary have high expenses resulting in them being wealth poor. You might be surprise, but many rich people that I encounter with high wealth have ordinary salaries. But it one thing for sure, people with high wealth, mostly put them into income producing assets.

Resale HDB

AMA 1M65

Property

Family

Loo Cheng Chuan
Loo Cheng Chuan, Founder at 1M65 Movement
Level 6. Master
Updated on 07 Jun 2019
- I cannot tell you what you should do but here is my advice. I am not a big believer of property as a good investment vehicle. - The 2 reasons for property prices to rise are Population Growth and Economic Growth. At the moment, none of these are growing in Singapore right now, hence I will not invest much into property right now and for many years to come. - That said, I make sure that I am not overleveraged on my property purchase and it is not stretched beyond my purchasing power. On that note, I have always lived in HDB and I am very comfortable in it. - I will be skeptical of using property as a tool for retirement because it does not necessary grow well and there is a lot of property risks involved. - It is also my view that Government being very careful about property bubbles being formed and regularly step in to prick little bubbles that brew in the property market.

AMA 1M65

Insurance

Loo Cheng Chuan
Loo Cheng Chuan, Founder at 1M65 Movement
Level 6. Master
Updated on 07 Jun 2019
I am not a big believer of buying life insurance or ILPs. I believe in Term Insurance with adequate coverage, one should focus on investments. Do not mix protection with growing wealth. Once I have become comfortable financially, I will kill all my insurance plans (which I have already done at this point of time).

AMA 1M65

CPF

Retirement

Loo Cheng Chuan
Loo Cheng Chuan, Founder at 1M65 Movement
Level 6. Master
Updated on 07 Jun 2019
I feel that people need to have a mindset change that CPF is a retirement tool. For me, I think of CPF as a get-rich tool, hence it forms part of my portfolio to get rich and as a baseline for a financial safety net so that it help me to feel more secure and to balance my financial emotions for equity (read: riskier) investments

Retirement

AMA 1M65

CPF

Loo Cheng Chuan
Loo Cheng Chuan, Founder at 1M65 Movement
Level 6. Master
Updated on 07 Jun 2019
https://www.cpf.gov.sg/Members/FAQ/schemes/other-matters/others Hope That this link will answer your question.

AMA 1M65

CPF

Policies

Loo Cheng Chuan
Loo Cheng Chuan, Founder at 1M65 Movement
Level 6. Master
Updated on 07 Jun 2019
In short, the key is there is no such thing as 0% risk in any investment. Hence, let’s talk about probability. The probability of this happening in Singapore is very low, compared to the alternative out there. I would and have taken my chances with the CPF and it has proven to be very lucrative.

Retirement

AMA 1M65

CPF

Loo Cheng Chuan
Loo Cheng Chuan, Founder at 1M65 Movement
Level 6. Master
Updated on 07 Jun 2019
From what I know, Generally, SA will be taken out first followed by OA to make up the requested partial withdrawal amt.

Investments

Family

AMA 1M65

Loo Cheng Chuan
Loo Cheng Chuan, Founder at 1M65 Movement
Level 6. Master
Updated on 07 Jun 2019
i have answered a similar question in this series of AMA, go check it out. Key is to note my sequence of portfolio investment. It is probably not well written by investment experts but I firmly believe that if you dont follow a right sequence of forming a financial safety net, you can’t invest well in risky investments.
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