Samuel Chin - Seedly
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Samuel Chin

Financial enthusiast.

Samuel Chin

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Financial enthusiast.

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Samuel Chin

  • Answers (10)
  • Questions (0)
  • Reviews (0)

Miles

Cashback

SG Budget Babe

MileLion

Credit Cards

Samuel Chin
Samuel Chin
Level 4. Prodigy
Updated on 02 Dec 2019
I started out with cashback first. Fuss-free and get started fast. Then dwell into understanding all the min spendings, airmiles mathematics, cashback on diff categories and tracking my expenses. Turns out I'm not a high spender with my current lifestyle, so I'm sticking to it. Comparing too much can paralyse you. They always have promotion going on so I suggest leveraging on it.
👍 0

Investments

Samuel Chin
Samuel Chin
Level 4. Prodigy
Answered on 26 Nov 2019
Make use of high-interest savings account due to their multipliers. Check if you hit the requirement (like giro transactions, monthly spendings) and minimum sum needed inside. Can look into Singapore Savings Bond as well if got any extra cash. Spend some time reading up on personal finance since army has much more free time and lesser worries.
👍 0

Property

Samuel Chin
Samuel Chin
Level 4. Prodigy
Answered on 26 Nov 2019
Not for me. I prefer location and accessibility over anything. Travelling time matters most to me. Love to host friends. The good is that you have everything at the West, no need to go Orchard etc anymore. Will be the first car-lite town in SG which is something to be excited about. If you like quiet place then okay too.
👍 0

Lifestyle

Shopping

Samuel Chin
Samuel Chin
Level 4. Prodigy
Answered on 26 Nov 2019
Depend on what you value its worth. Some fancy the brand itself and compatibility with like iPhone. Feels good having the image and gives you confidence? After all Apple is the first that started it. But if you're talking about audio quality, other brands who focus on audio products will be better.
👍 2

Lifestyle

Samuel Chin
Samuel Chin
Level 4. Prodigy
Answered on 26 Nov 2019
I would sell it, get the money and buy something useful for myself instead. If he is a real friend, he wouldn't mind and anyway, he gave it to you. You can do anything with it.
👍 0

Investments

Savings

Retirement

Savings Accounts

Samuel Chin
Samuel Chin
Level 4. Prodigy
Updated on 26 Nov 2019
Firstly, I would disregard the category of "Home Loan Installment" and "Insurance Premium" because assuming most of us take HDB Loan; and "insurance premium" only applies for 1st year + must buy insurance from the bank. That meant about probably $5,000 of the total transactions for average Singaporean: (salary + credit card + bank investment). A return of 2% realistically. Also, should only keep 3-6months or 6-12 months (depending on your occupation) of cash in the bank for an emergency fund, so technically you shouldn't hit the highest tier of interest. Even if you do, it only applies to the balance after the first $50,000. Invest in SSB (over 10 years) or other instruments would be a way of investment diversification in hopes of getting high interest. Money in the bank serves a different purpose - the interest rate is just a token of appreciation from the bank haha
👍 0

Investments

Samuel Chin
Samuel Chin
Level 4. Prodigy
Updated on 03 Sep 2019
Glad that you’re considering seriously and doing your own due diligence. I wouldn’t just dismiss and say ILPs are bad. If one knows how to utilise them properly, it is a very good tool. If all ILPs are bad, why do companies keep coming up with them and still able to sustain? However, looking at your profile, you probably don’t need an ILP. Can just get life insurance and investment separately. The best way is to get someone whom you trust and analyse your financial situation thoroughly with you. There are many ways to accumulate wealth, find one that you‘re most comfortable with.
👍 0

Investments

Savings

Insurance

Loans

CPF

Samuel Chin
Samuel Chin
Level 4. Prodigy
Updated on 15 Jul 2019
Your focus now could be in this order: Clear your debt save up 3-6 months Emergency Fund Learn about investments along the way Some useful pointers you can consider: 1. Work out your monthly expenses and look at your surplus. See if there's any way to reduce them. 2. Given that your liabilities might below, you can save 20% of your take home pay to build up your Emergency Fund. 3. If you're comfortable, other 20% can be set for clearing off your debt (I suggest a minimum amount you set aside to build discipline). 4. Remaining 10% +/- build up capital for investment that will beat the 2.5% CPF interest. Don't rush into things. Be patient. Go forth and invest AFTER you save up some.
👍 0

Insurance

Samuel Chin
Samuel Chin
Level 4. Prodigy
Updated on 21 Jun 2019
If you really are not interested, be honest and open with him that you don’t want to discuss about it. If he appreciates the friendship I’m sure he will understand. If you‘re curious and don’t mind listening, let him know too, that you’re just knowing more. See what he has to offer and make sure he doesn’t sugar coat the whole one with only benefits.
👍 6

Savings

Savings Accounts

Samuel Chin
Samuel Chin
Level 4. Prodigy
Answered on 10 Jun 2019
They definitely understand diversification and allocate their assets in different areas - stocks, mutual funds, insurance, vehicles, real estate, business interests and many others. Each of them are of different asset class that serves different purposes. So each person’s % allocation will vary. Like maybe life insurance for leveraging, stocks for liquidity etc. Each asset class has its pros and cons so generally see how’s the person’s risk appetite.
👍 1
Level 4. Prodigy
48PointsGoal 125
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