Nicholes Wong - Seedly
Nicholes Wong

Learnt a bit in school and decided to learn more about investments and money stuffs through Google

Nicholes Wong

Diploma in Business Management at Nanyang Polytechnic

169Upvotes

About

Learnt a bit in school and decided to learn more about investments and money stuffs through Google

Credentials

Diploma in Business Management at Nanyang Polytechnic

Nicholes Wong

Diploma in Business Management at Nanyang Polytechnic

169Upvotes
  • Answers (481)
  • Questions (0)
  • Reviews (2)

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You should pay more than minimum by cutting down ur expenses or get some side gigs. Very likely your minimum payment might not even enough for interest. Hard to comment without much details.

Electricity Market

General

SeedlyTV EP08

They are charging lower price to get more market shares. The electricity tariffs are set by the EMA, theres nothing SP can do about it as well.

Standard Chartered Online Trading

Brokerage fees when you buy or sell a stock

Stocks

Brokerages

They have custodian fees of 0.18%. You can also take a look at TD ameritrade and Charles Schwab. Quite a lot of people who invest in US stocks uses them. Compare both 3 in terms of commission based on the amount you going to invest. You can also try out demo accounts if they offer to see which is more suitable.

DBS Multiplier

If you are talking about the investment part for DBS multiplier, the interest you get from SSBs will be counted. You can do the SSBs ladder. SSBs pay interest every 6 months. Example if you buy SSBs once every month for 6 months like from January to June, you will receive interests every month afterwards for 10 years. Every month the interest you received will be considered investment if DBS dont change anything. You would need $3,000 to do this as the minimum is $500 for SSBs.

Investments

Seedly PFF 2019

Seedly

Stocks

Like Gabriel mention, Singaporeans are not affected by capital gain tax but affected by 30% withholding dividend tax. If you want to trade US stocks, it is better to look at overseas brokers like TD ameritrade, Charles schwab and so on as they usually have better commissions compared to local brokers but you have to double check.

Investments

You should get the VUSD or CSPX on the london stock exchange instead. They reduce the US withholding tax from 30% to 15%.

Insurance

Lifestyle

Retirement

If your whole life is limited pay for like 20 years, you can just keep it forever until you pass away. 1) Depends on the insurance plan you have, some will terminate and some will have guaranteed renewability. 2) Usually cash value plans are whole life, ILP and endowments. The others like personal accident will not have cash value. 3) That is why retirement planning is important to ensure that by the time you are 65, you should only require integrated shield plans as usually other insurance plan is to protect you and your dependants from loss of income when you cant work or pass away. No one including you should be relying on your income when you reach 65 unless you have special situations.

Investments

Unit Trust

Maybe one of the reason is that Temasek owns part of Keppel

Ohm Energy

You can apply through their website. https://www.ohm.sg/
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