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Lucas Ong

Not-so-enthusiastic learner about the harsh truths of life

Lucas Ong

GreenBoii at GreenBoiisSG

About

Not-so-enthusiastic learner about the harsh truths of life

Credentials

GreenBoii at GreenBoiisSG

Lucas Ong

GreenBoii at GreenBoiisSG

  • Answers (14)
  • Questions (2)
  • Reviews (4)

Investments

Robo-Advisors

SeedlyTV S2E04

StashAway

Syfe

Regular Shares Savings Plans (RSS/RSP)

DBS digiPortfolio

What's considered diversity in investment? Do Robo-Advisors help me achieve this?
Lucas Ong
Lucas Ong, GreenBoii at GreenBoiisSG
Level 4. Prodigy
Answered on 04 May 2020
Yes, robo-advisors help achieve diversification with their asset allocation. This is agreed amongst all the replies. However, let me give an alternative perspective. While your investments are diversified by asset class through your portfolio, if you put 100% of your capital into 1 robo-advisor, what we have now is investment in only 1 medium. Therefore, what we can do to further diversify is to invest in (you guessed it), multiple mediums. While I noticed that most people on Seedly would rather do their investments on their own (RSP into ETFs, investment in robo-advisors, lump sum investment through brokerage, etc), I feel that having a portion of your money to invest through your financial advisor (endowment, savings plan, etc.) is also a form of diversification. While the argument is that by doing so, there is "unnecessary" incurred fees and also less desirable returns, most of these plans do also have a surrender value and mimimum guaranteed return. e.g. After your long investment horizon, you've reached retirement age. Few months prior to your retirement, the world experiences another bear market due to reasons such as another pandemic. Your self-invested investments are at net negative (worst case scenario) and you've wasted the x amount of years of investment. If you had investments in an alternative medium (your FA), you would at least have a guaranteed capital amount in the form of matured product that you had bought which you can now use for said retirement. Hope this makes sense. Just my 2 cents.
šŸ‘ 0

Revolut

DBS

Any charges for transferring SGD from Revolut to local DBS account?
Lucas Ong
Lucas Ong, GreenBoii at GreenBoiisSG
Level 4. Prodigy
Answered on 04 May 2020
There are no charges. It'll take a few days as the transfer is done through FAST payment. When receiving the funds in your account, it'll show that you've received payment via GIRO from "The Currency Cloud Ltd".
šŸ‘ 0

Investments

General

Why did you start investing in the first place? What was the thought that triggered you to find out about investments?
Lucas Ong
Lucas Ong, GreenBoii at GreenBoiisSG
Level 4. Prodigy
Updated on 07 Jun 2019
I started having interest in Mathematics when I saw my father calculate the probability of winning 4D and TOTO when I was in Primary school. After watching "God of Gamblers", I wanted to be like the rich men, throwing money around at casinos as I wished, only difference is that I would be able to take calculated risks to "outsmart" the house. This led to me being interested in the concepts of money and risk-taking. Fast forward to after getting my O' Level results. Part of me wanted to become an investment banker so as to feel the excitement and power I have while I handle portfolios worth millions and billions of dollars. The other part of me just wanted to learn more about investments and the finance industry just to further educate myself. After graduating with a Diploma in Banking & Finance and currently serving the nation, I'm starting to put what I know into concrete actions - managing my own finance, reading up on companies and news to make smart investments, etc. While it's tough to do too many things with my $560 allowance, I see it as good practice to be able to learn how to spend within one's own means and start to be financially independent.
šŸ‘ 1

Lifestyle

How many Christmas trees are there in this article?
Lucas Ong
Lucas Ong, GreenBoii at GreenBoiisSG
Level 4. Prodigy
Answered on 21 Dec 2018
14 trees~
šŸ‘ 1

Lifestyle

Upload a photo or meme that describes your 2018?
Lucas Ong
Lucas Ong, GreenBoii at GreenBoiisSG
Level 4. Prodigy
Answered on 20 Dec 2018
Been promoted and allowance has risen (a little) since enlisting at the start of the year, but my daily routine hasn't changed much! Managed to convince my close buddies to start caring more about their money and finance, which is a win for everyone. !
Answer image preview
šŸ‘ 1

Career

Savings

Investments

Lifestyle

Credit Cards

What are your personal finance resolutions for 2019?
Lucas Ong
Lucas Ong, GreenBoii at GreenBoiisSG
Level 4. Prodigy
Answered on 19 Dec 2018
Goals for 2019 will be to continue managing my monthly cash flow well and finish sorting out my insurance policies. And as always, continue learning more about finance.
šŸ‘ 1

Lifestyle

How do you balance being thrifty and enjoying life while in your 20s?
Lucas Ong
Lucas Ong, GreenBoii at GreenBoiisSG
Level 4. Prodigy
Answered on 16 Nov 2018
For myself since I'm living off NS allowance, I force myself to save at least twice the outgoing amount before I start spending (if it is a foreseeable expense). If not, responsible spending (justified and reasonable expenses) is something I try to stand for.
šŸ‘ 1

General

What are some affordable makan places you know?
Lucas Ong
Lucas Ong, GreenBoii at GreenBoiisSG
Level 4. Prodigy
Answered on 13 Oct 2018
Holland Drive Food Centre! Always went there for lunch when I was an intern working at Buona Vista. They have a wide array of good & cheap food! Recommend the gado gado & ayam penyet from Aini Muslim Food.
šŸ‘ 1

General

If money wasn't an issue, which country would you want to stay in, and why?
Lucas Ong
Lucas Ong, GreenBoii at GreenBoiisSG
Level 4. Prodigy
Answered on 18 Sep 2018
If money wasn't an issue, I would still prefer to live permanently in Singapore. It's safe (both crime and natural disasters-wise), liveable (just look around you) and most importantly, my family is here. If I want a change of scenery, I'll simply travel wherever I want to, whenever I want, because I can.
šŸ‘ 0

General

Gratitude begins when the sense of entitlement ends. What is one thing in your life you are grateful for?
Lucas Ong
Lucas Ong, GreenBoii at GreenBoiisSG
Level 4. Prodigy
Answered on 18 Sep 2018
I'm grateful for everything my parents have done for me. The countless sacrifices, many times of hurt I've caused them, the lack of gratitude I've sometimes shown. Without them and their support, I don't know where I would be in life. Unpopular opinion: I'm grateful for our government. Yes, they can be improved. Yes, not every decision they've made have made our lives better. But objectively, they've made difficult decisions that has generally improved the quality of life for a lot of Singaporeans.
šŸ‘ 1
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Level 4. Prodigy
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