Mark - Seedly
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Mark

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Mark

  • Answers (14)
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CPF

Is there a maximum amount in your special account that you are allowed to top up?
M
Mark
Level 4. Prodigy
Answered on 21 Nov 2019
The maximum amount is the current year’s Full Retirement Sum.
👍 0

CPF

This year is coming to an end. Would you advise me to top-up MA or SA to enjoy further tax relief?
M
Mark
Level 4. Prodigy
Answered on 20 Nov 2019
Between topping up MA or SA, I would rather top up SA as it flows directly towards your retirement.
👍 0

Entrepreneurship

Lifestyle

Family

Personal Finance Books

What book you have read that changed your life?
M
Mark
Level 4. Prodigy
Answered on 20 Nov 2019
The richest man in Babylon. It changed the way I view money and life.
👍 1

Savings

CPF

1M65: Heard about it from Seedly talk, but still confused. Why isn't everyone doing it then?
M
Mark
Level 4. Prodigy
Answered on 20 Nov 2019
Some of the younger people may be afraid to put too much in the SA and have little OA or Cash. The lack of liquidity may cause stress in the event of unforeseen circumstances.
👍 1

Shopping

Lifestyle

What should I get for my mentor, who is also my colleague, since he is leaving the company?
M
Mark
Level 4. Prodigy
Answered on 20 Nov 2019
A handwritten card is what I would usually prepare. Together with it would be a box of chocolates. (Quite common, but it just goes well together) If it’s someone whom you respect a lot, you can take him out for a nice meal, like a buffet, so it gives you more time to talk too.
👍 1

Lifestyle

What kind of presents do you NOT want to receive for Christmas?
M
Mark
Level 4. Prodigy
Answered on 20 Nov 2019
Food with short shelf-life.
👍 0

Shopping

Lifestyle

Why are people willing to spend more than S$1.6k on the latest Apple iPhone?
M
Mark
Level 4. Prodigy
Answered on 20 Nov 2019
Perhaps some of those who do that may want to show that they are of a certain status. There are others who are just iPhone enthusiast. Everyone has got their own vices. What matters is one has to ask himself whether this is the best use of his money.
👍 0

Lifestyle

Savings

What would you tell your 21-year-old self?
M
Mark
Level 4. Prodigy
Answered on 20 Nov 2019
I would tell myself not to compare with others. Every person has his or her own talents. Sometimes, your perceived weakness may turn out to be your greatest strength. Don‘t be too harsh on yourself when you make mistakes, including financial ones. Making mistakes is part of the learning journey. Spend within your means and never spend to impress others.
👍 0

Investments

Loans

What to invest in with the money set to pay for uni assuming I took a tuition fee loan and I Wan to make use of the 0% interest when studying. Length of study is 3 years?
M
Mark
Level 4. Prodigy
Answered on 20 Nov 2019
Short-term endowment, fixed deposit or even SSB (depending on the rate) can be considered. Nothing risky as you would want to clear the loan upon graduation.
👍 0

Investments

Should i borrow money from the bank to invest if for example interest on my loan is 6% and i can make 10% then i should do it since i can earn enough to pay for interest?
M
Mark
Level 4. Prodigy
Answered on 20 Nov 2019
I would not borrow to invest as one never knowa when the market can move against them and also face the possibility of a margin call.
👍 0
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Level 4. Prodigy
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