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Milly Fbk

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Milly Fbk

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Milly Fbk

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  • Answers (13)
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Property

Resale HDB

Loans

Milly Fbk
Milly Fbk
Level 3. Wonderkid
Answered 4d ago
If you planning to buy an HDB and enjoy its grants in the future then you need to 'repay' back some money if you took up the grants for your current HDB. This is to ensure no one can forever enjoy subsidies forever. You can look at the quantum here https://www.hdb.gov.sg/cs/infoweb/residential/selling-a-flat/financing/computing-your-estimated-sale-proceeds/selling-a-flat---resale-levy

Loans

Investments

Milly Fbk
Milly Fbk
Level 3. Wonderkid
Updated 4d ago
There are a few factors to consider like Withdrawal Limit, Total Debt Servicing Ratio and etc but I assume these are not your concerns. So, it all boils down to Time Value of Money! Do the option where it maximise your Future Value. So it depends on what loan you're talking about. If it's HDB loan, I rather not pay it as the effective interest rate is low, but if its a car loan, maybe I would if there's no penalty. So yea. It's best if you know how to calculate it yourself but there are lots of TVM calculators around also.

Credit Card

Savings

Milly Fbk
Milly Fbk
Level 3. Wonderkid
Answered 4d ago
I think it's worth at the point where you took out all or atleast $100,000 CPF and just want to spend and spend and spend and spend.

Insurance

Milly Fbk
Milly Fbk
Level 3. Wonderkid
Updated 4d ago
As true as what the Hariz says, don't give up until the insurers says no, as Hospitalisation Insurance is very important. I recommend you try Aviva for as they have a momaritum underwriting option. Read this link below. In short, Moratorium underwriting offers the chance of having pre-existing conditions covered after a period of time. https://www.sgmoneymatters.com/moratorium-underwriting-by-aviva/ Cheers!

REITs

Investments

Milly Fbk
Milly Fbk
Level 3. Wonderkid
Answered 4d ago
Hi, you're a business owner so in my opinion, nothing makes more then to invest in your own business. But if you wish for some passive side investments, well, do as what everyone is doing. Do some stocks, bonds, unit trust, P2P lending. From your information, I see that you can benefit from SRS, and you can use that as reduce your tax and also invest. Also, do look into CPF top up, especially for your retirement like what Leong is saying. Also, I am assuming you have yet to consolidate your strategy above. You can get a DBS multiplier account. The SSB counts as the investment option and I'm sure you can arrange for a credit card as well.

Investments

Savings

Milly Fbk
Milly Fbk
Level 3. Wonderkid
Updated 4d ago
Hi, If you can do what Jefremy or Hariz mentioned I applaude you. Its a good strategy I must say. But carries a certain risk also. Usually when I advice my other casual friends, I would exactly do as what you mentioned above. Go learn the market, and experience the stocks and ETFs yourself. My turning point was when I lost some money doing simple traditional investments, so I made a decisions to learn more like what Hariz and Jefremy is doing now. Once you are more educated of the financial market, feel free to invest into non traditional ways.

Investments

Savings

Milly Fbk
Milly Fbk
Level 3. Wonderkid
Updated 4d ago
Hi, Before you go investing, you should get your insurance right first as, you don't want to fall into the case where you need to sell your investments because your insurance doesn't cover you enough. So, get your: Hospitalisation and Personal Accident Insurance. Mortgage Insurance. Home Contents Insurance. Life and Critical Illness Insurance (once you have dependants e.g. old parents or children). Also, at the same time, keep a healthy sum as emergency funds in a high yielding interest account (maybe DBS Multiplier). Just imagine if you're suddenly retrenched, so how much money you would need to survive til you get a new job. After all these, then your cash is called spare. With the spare cash, you can divide into 3 parts. 1) Short term investment 2) Mid term investment (E.g. children needs) 3) Long term investment (E.g. retirement) Short term. You can consider maximising your high yielding saving account. For the risk taker, you can try purchase crowdfunds. Mid term. You can consider Endowments. If you don't mind DIY you can purchase unit trusts or ETFs. Long term. You should consider Maximising your CPF SA, by transferring from OA or cash top up. Just some basic guidelines, further information are found all over the Web. If all these not possible, although not recommended, just buy a ILP but please don't buy ILP as your first choice.

SeedlyTV EP08

Electricity Market

Milly Fbk
Milly Fbk
Level 3. Wonderkid
Answered 4d ago
Paradox of choices? Ironic. You prefer a small number of choice for ease of choosing? Accordingly to economics, a huge number of competitors means price will be low. So that means good for us consumers. You want ease, just ask someone to pick for you a choice.

SeedlyTV EP08

General

Electricity Market

Milly Fbk
Milly Fbk
Level 3. Wonderkid
Answered 4d ago
Why? Because there's profits to be made and the barriers to entry is lowered then before.

Insurance

Term Life Insurance

Milly Fbk
Milly Fbk
Level 3. Wonderkid
Updated 5d ago
You should check this website. Do look for Term Direct Purchase Insurance ("DPI") http://www.comparefirst.sg/wap/homeEvent.action As you already know what you want, you can by pass insurance agents and purchase your term insurance plan at a very cheap price. A 35 year old male, non-smoker can get a $1,000,000 Sum Assured with Critical Illness and Total Permanent Disability cover til the age of 65 at approximately $2,800 per annum. There is one slight issue though, the maximum sum assured is $400,000. So you just have to buy 3 policies ($400,000 x2 and $200,000 x1) if you want to get the $1,000,000 sum assured. These policies come with the optional CI and TPD cover that you are looking for as well. Also, no worries for being a foreigner, these cover anywhere in the world. Cheers!
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