Rachel Yeo - Seedly
 
Rachel Yeo

Rachel Yeo

Content Strategist at Seedly

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Content Strategist at Seedly

Rachel Yeo

Content Strategist at Seedly

  • Answers (7)
  • Questions (0)
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Persons With Disabilities

Insurance

Rachel Yeo
Rachel Yeo, Content Strategist at Seedly
Level 3. Wonderkid
Answered 2w ago
Hello! :) That's a great question! LIke what the others said, it can be real difficult buying insurance for your child with autism. If you are looking for unit trusts available for your child in an event you pass away, you can take a look at the SNTC Trust, and the SNTC Savings Scheme! You can read more about the different type of help you can get here: https://blog.seedly.sg/money-fm-pwds-grants-employment-and-unit-trusts You can also find out more about the SNTC trust here: https://www.sntc.org.sg/Pages/Home.aspx

Insurance

Rachel Yeo
Rachel Yeo, Content Strategist at Seedly
Level 3. Wonderkid
Answered on 14 Nov 2019
Hello! A year late, but for those who are still looking for the answers to this, here's an article you can check out to weigh the pros and cons! https://blog.seedly.sg/aia-vitality/

Savings

Lifestyle

Rachel Yeo
Rachel Yeo
Level 3. Wonderkid
Answered on 14 Nov 2019
Hello! :) There are some Facebook groups you can join that will be useful in adding members! Here's one: https://www.facebook.com/groups/AIAVitality/

General

Career

Rachel Yeo
Rachel Yeo, Content Strategist at Seedly
Level 3. Wonderkid
Answered on 19 Sep 2019
Hello! In terms of other personal finance tips for freelancers, you may find these articles useful: https://blog.seedly.sg/self-employed-cpf-medisave-contribution/ https://blog.seedly.sg/freelance-insurance-singapore/ https://blog.seedly.sg/freelancer-self-employed-income-tax/

Entrepreneurship

Rachel Yeo
Rachel Yeo, Content Strategist at Seedly
Level 3. Wonderkid
Updated on 13 Sep 2019
Hello! Having interned previously in start-ups, I would say that on average, companies pay $600-$1000/mth for interns! I've done internships with real early stage start-ups that paid $600/mth and I personally felt that it was rather low. With your budget, maybe you can consider hiring part time interns, who can work from home/ come down to the office twice a week, for example. This way you'll get some help and still work within your budget! :)

Investments

Singapore Saving Bonds (SSB)

Rachel Yeo
Rachel Yeo
Level 3. Wonderkid
Updated on 22 Jul 2019
Hello! :) As a graduate and someone that's new to investment myself, I've researched a little on this and here's my two cent's worth. Before thinking about investments, its great if you could clear outstanding loans. - Investment is long term and taking on one while you still have student debts etc to clear isn't wise :) Once you've cleared your student debts and loans, I found the 50-30-20 guide rather useful: - Savings (20%) - Expenses (no more than 50%) - Investments (30%) You can read more about this here: https://blog.seedly.sg/working-adults-allocate-your-monthly-salary/ Savings (20%) Save your 20% in a high i/r bank such as the DBS Multiplier account. You can find a suitable high i/r bank that best suits your needs here: https://blog.seedly.sg/best-savings-accounts-singapore/ Investments (30%) For the 30% allocated salary for investments, it's great for a beginner to start with a very basic SSB and RSP, which is what you did. If you prefer a safer bet, you can always go for bonds and other endowment plans. - For your next step, you can try out investing in some Index, such as STI. .- If you'd like to try something more adventurous, I'd suggest investing in blue chips- a stock in a corporation with a national reputation for quality, reliability, and the ability to operate profitably in good times and bad. These stocks are not as risky, and will be beneficial for you if you are looking at a long term investment plan. However, remember to do a ton of research on these companies or funds before buying those chips. Beyond that, if you're looking to invest in the stock market, you will have to: 1. Open a CDP account with the government https://blog.seedly.sg/step-step-guide-opening-stock-trading-brokerage-cdp-account-singapore/ 2. Find a broker- someone that will be the middleman between you and SGX. However, I'd highly encourage you to engage in lower risk investments first, know more about the stock market and do your research before going in. The stock market has high risks and (potentially high returns), so it pays to be cautious when investing! EDIT Took so long to type these out wtheck but I found this right after and it's pretty good so you can check it out: https://blog.seedly.sg/ultimate-personal-finance-guide-to-investing-singapore/

Career

Rachel Yeo
Rachel Yeo
Level 3. Wonderkid
Updated on 22 Jul 2019
Hello! Being a YouTube influencer is a great and fulfilling journey, and if it is something you love, then it isn't something you should give up on! Here are some practical questions you can ask yourself regarding your financial position, and whether or not you are financially ready to make the jump: 1. What’s your earning potential on YouTube? - As we only know you have 54k subscribers, there’s little we can tell about your earning potential on Youtube as that is more dependent on your video viewership! - For SG, Youtubers earn around $5 per 1000 effective ad- assuming all your subscribers were to watch the advertisements embedded with your video fully, that will total to only about $270 per video. Your $31,000 in ad revenue was for a 2.5 year stint: that means you get around $1033 a month for the past 2.5 years via video making. Are you comfortable with that amount every month? - You can calculate your exact earning potential here: https://influencermarketinghub.com/youtube-money-calculator/ 2. Is this a revenue you can upkeep for the long run? - The nature of your channel is focused on a claw machine. If you’re not featured in the video, you may or may not be able to expand your outreach to other influencer marketing opportunities. Ask yourself how can you position your brand and videos, so that you are able to exploit other forms of collaborations and partnerships to earn more income. Your current monthly income: ~$5.8K/mth. This is your opportunity cost if you were to switch careers! 3. How much savings do you have currently? Are you able to live comfortably with your savings for the next 1 year? - Building a YouTube channel takes time, so you have to be in a comfortable and have enough finances for you to finance your own living expenses for at least a year! If you are hesitant to make the switch, it may be due to a lack of planning and research on your part! Overall, I feel that if you’re in a financially secure place, and if you’re able to afford to take time off starting your YouTube channel- go for it!
Level 3. Wonderkid
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