Nicholas B - Seedly
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Nicholas B

I like money

Nicholas B

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I like money

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Nicholas B

  • Answers (46)
  • Questions (0)
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Credit Cards

AMEX True Cashback Card

Grab

I heard somewhere that the Amex true back card offers cashback on purchases made with GrabPay. Is this true?
Nicholas B
Nicholas B
Level 5. Genius
Answered 5h ago
The Amex True Cashback card does earn 1.5% cashback on GrabPay wallet topups, which you can then spend using GrabPay QR or the GrabPay Mastercard and earn GrabRewards points.
ūüĎć 0

Investments

Savings Accounts

Undergraduate

23 years old male undergrad, $42k savings but still have study loan liability. Any comments on my fund allocation and investment advice?
Nicholas B
Nicholas B
Level 5. Genius
Updated 13h ago
The tuition fee loan interest rate is 4.75% p.a. and starts accruing upon graduation. Assuming roughly $30k on loan which you will pay off in full immediately after graduation, that leaves you $12k that can form part of your emergency fund. The key thing to consider is that with equities, there is high potential for returns but also high risk. It seems like you are halfway through university, so your timeframe is rather short. If your investment into equities loses value by the time your loan interest starts accruing, what would you do? Will your investment grow faster than the 4.75% p.a. interest on the loan? Of course, you can take a calculated risk and invest a partial amount into the markets. My take is that you should just keep on doing what you are doing, and only invest if you have spare cash. By graduating with no debt and already armed with an emergency fund, you can channel more of your salary towards investment.
ūüĎć 0

Investments

ETF

Stocks Discussion

Online Brokerages

I plan in invest in VOO long term for the next decade, which platform would you recommend, and any opinions?
Nicholas B
Nicholas B
Level 5. Genius
Answered 2d ago
VOO is a US-domiciled ETF, which means that your dividends will be taxed at 30%. You may want to consider Irish-domiciled ETFs listed on the LSE as they are taxed at 15% instead. Since VOO tracks the S&P 500 index, CSPX/VUAA (accumulating) or IDUS/VUSD (distributing) should be what you are looking for. For Irish-domiciled ETFs, you may want to consider Interactive Brokers or Standard Chartered. For US-domiciled equities and ETFs, there are plenty of great brokers such as TD Ameritrade, Tiger Brokers and Interactive Brokers.
ūüĎć 2

Investments

Robo-Advisors

Savings Accounts

Credit Cards

For the DBS multiplier, how do you reach the next tier interest rate with GIRO credit card spending?
Nicholas B
Nicholas B
Level 5. Genius
Answered 3d ago
No. Credit card spending, as its name implies, refers to transactions performed using your credit card. GIRO does not count towards that.
ūüĎć 1

CPF

Family

Property

If I am inheriting my parents' flat after they pass on, do I need to channel the funds gained from selling the flat back into my CPF, if my parents' used their CPF to pay for the flat?
Nicholas B
Nicholas B
Level 5. Genius
Answered 4d ago
No, you do not need to. Unless you used your own CPF to pay for the flat (which would require you to be a co-owner at least), there is no requirement to pay back the withdrawn amount into CPF after death.
ūüĎć 0

Singlife Account

Singlife Card

Savings Accounts

Savings

Is the singlife account interest guaranteed after the next 90k for 1%?
Nicholas B
Nicholas B
Level 5. Genius
Answered 6d ago
No. The interest rates that they claim are non-guaranteed across the board and may be changed at any time.
ūüĎć 0

Interactive Brokers

Investments

Brokerages

Online Brokerages

TD Ameritrade vs IBKR SG in terms of exchange rate?
Nicholas B
Nicholas B
Level 5. Genius
Answered 6d ago
TD Ameritrade uses a "preferential" daily rate with DBS to convert currency. This rate is not known publicly, but you can give them a call or message to check with them. It updates at 2:30pm daily. Do note that deposits are not processed immediately, so the rate that they tell you today is most likely not the rate that your money will be converted with a couple of days later. As for withdrawals, they charge 25 USD for wire transfer (in USD), and depending on your bank, you may get charged fees for incoming TT and currency conversion. IBKR on the other hand uses the spot rate (realtime) and gives you more control, such as setting limit orders. They charge a 0.20bps, min 2 USD commission. 1 free withdrawal every month.
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Online Brokerages

Interactive Brokers

Investments

Payments

ETF

Brokerages

Stocks Discussion

Hi guys, for those of you that use IBKR, is it possible to buy fractional shares of Ireland-domiciled ETF(in USD) ?
Nicholas B
Nicholas B
Level 5. Genius
Answered 1w ago
IBKR does not currently offer fractional shares trading outside of US markets, so no. See: https://www.interactivebrokers.com/lib/cstools/faq/#/content/faq%3A%2F%2FpageId%3D83257314?articleId=83261303
ūüĎć 0

Investments

S&P 500 Index

What are the difference between S&P 500, Dow Jones and Nasdaq? Which are you invested in?
Nicholas B
Nicholas B
Level 5. Genius
Answered 1w ago
S&P 500 - Index of 500 large US companies Dow Jones Industrial Average - Index of 30 large US companies Nasdaq - a stock exchange in the US. There's the Nasdaq Composite which is an index of most of the companies listed on Nasdaq
ūüĎć 0

Investments

Trading

Online Brokerages

Which is the best broker for "buy and hold"?
Nicholas B
Nicholas B
Level 5. Genius
Answered 1w ago
For SGX, almost any broker is okay, whether your stock is held in CDP or custodian. In this case, what you should look at are the commissions of the various brokers. For US markets, Tiger Brokers, Standard Chartered and TD Ameritrade do not charge any monthly minimum or custody fees. For LSE, Standard Chartered is the only broker that does not charge custody or minmum monthly fees. Depending on your situation, IBKR may be an exception. They do not charge a monthly minimum fee if your total assets held with them is more than 100k USD.
ūüĎć 0
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