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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

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

  • Answers (492)
  • Questions (0)
  • Reviews (2)

Investments

Savings

Loans

Family

Stocks Discussion

Lifestyle

You are playing with fire. Investments like stocks are volatile. It is not a good idea to rely on them for short term goals which are paying your school fees and if BC means Bitcoin, it is even worse. Maybe get some part-time jobs while you are studying will be a better way. You don't have to avoid debts as well. Just plan properly on how to pay it all off when you finished your degree as soon as possible.

DBS Multiplier

Savings

DBS multiplier is an individual account. Most likely if only you have DBS credit card, only your DBS multiplier will get the additional interest. Both of you can just apply for 1 credit card and spend $1 if you don't like to use the credit card which will make both of your DBS Multiplier accounts be eligible for card spending category. You can also do the SSB ladder and set the joint account as the CDP dividends account which will give another investment category for both Multiplier account. SSB Ladder - https://kpo-and-czm.blogspot.com/2018/04/dbs-multiplier-ssbs-joint-account-higher-interest.html Change CDP dividends account - https://www.dbs.com.sg/personal/deposits/bank-with-ease/direct-crediting-service

CPF

People will have to rely on their children or find work. That is why retirement planning is very important. Even though now there is CPF Life which gives lifelong payout compared to the old CPF retirement sum scheme which will run out. It is still important to plan for retirement which you either maximize what you can get from CPF for your retirement or have multiple incomes when you retire and not just rely on CPF.

Savings

Lifestyle

Get a good savings account like Standard Chartered Jumpstart for 18 years old to 26 years old. Gives 2% interest up to 20k with no other requirements or criteria other than the age. https://www.sc.com/sg/save/savings-accounts/jumpstart/ It's ok to spend some money to enjoy your youth but don't go crazy. You must balance between enjoying the present and planning the future.

Investments

Stocks Discussion

Bank Account

Most Robo-advisors are pretty diversified already. You don't actually need to diversify even more with different Robo-advisors. Just find 1 or 2 Robo-advisors that you suit the most and that is good enough.

Lifestyle

Savings

Do more pushup, sit up and running everyday so can pass IPPT easier.

CPF

CPF interest is computed monthly, then compounded and credited annually to your respective accounts. CPF interest earned in 2018 will be credited to members’ CPF accounts by the end of 1 January 2019.

Ohm Energy

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

Credit Card

The benefit of the MasterCard is that you can get grab points from online shops that don't offer GrabPay as payment as for me I used it for Shopee. Currently UOB and Grab partner up so you can get up to 10% cashback using or top-up grab with the UOB One credit card. And you can get the 10x grab points compared to just using UOB one directly getting up to 5% cashback.
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