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Samuel Lee

Helping S'poreans Fresh Graduates navigate #adulting and prepare them for their first steps towards Financial Independence.

Samuel Lee

Financial Planner at Advisor Alliance Group (AIA)

11Upvotes

About

Helping S'poreans Fresh Graduates navigate #adulting and prepare them for their first steps towards Financial Independence.

Credentials

Financial Planner at Advisor Alliance Group (AIA)

Samuel Lee

Financial Planner at Advisor Alliance Group (AIA)

11Upvotes
  • Answers (18)
  • Questions (0)
  • Reviews (0)

Shopping

Lifestyle

Technical Analysis

Hi, other than getting an affordable laptop - here are other ways to save cost since you are already planning on getting one. Use a miles credit card with Shopback ( https://www.shopback.sg/all-stores/electronics )to get both Air Miles and Cashback! If you are considering what kind of miles credit card to use: Money smart has a good platform for credit card comparison: https://www.moneysmart.sg/credit-cards Seedly also has a good user review system for credit cards for more qualitative aspects of the card: https://seedly.sg/reviews/credit-cards

Property

EC Condominium

Condominium

Family

Hello, Based on the facts stated here, I would not recommend you upgrading to a condo. Based on a rough estimate of a central condo and your monthly income. Some details required: Have you achieved your Minimum Occupation Period for your EC? Have you paid off your EC? If not, what are the current details with regards to your EC What size and location of the condo are you looking at? How about your current cash liquidity? Even with insufficient cash flow a centralised condo is possible with other sources of capital to supplement your income. Do get back to me so I can answer this clearer!

Investments

Robo-Advisors

Hi, What you are experiencing now are two different issues. First of all to clarify certain details: You said you are making a gain, compared to SGD put in or USD to USD? Either way, if you are confident of the basket of funds that the robo-advisor is investing in. Such fluctuations are frequent and most robo-advisors are intended to be invested for the long term. The other thing you are experiencing is currency risk. There will be frequent USD/SGD movements that you are currently being exposed to. If the sum invested is smal this movements usually do not affect you greatly. More information is required for me to answer this question appropriately.

Robo-Advisors

Investments

ETF

Syfe

Stashaway

Hi, I believe this question was previously answered here: https://seedly.sg/questions/may-someone-kindly-explain-the-difference-between-syfe-and-stashaway-in-layman-terms?aid=19536 Do take a look!

CPF

Loans

Education

Lifestyle

Hi, I would like to advise you about the CPF education scheme. The interest rates (pegged to CPF OA interest rates) would have started from the time the money was withdrawn, if financially possible, I would suggest paying off the loan as soon as possible (within your financial means). That means if you have the cash to pay off all of the loan. Do pay it off immediately!

Investments

STI ETF

DBS

Hi, I feel really excited for you as you embark on your investment journey! DBS STI ETF is a good start in the sense that you would be "buying into Singapore economy" and a decently safe start with moderate risk considering Singapore current market environment. It's good to see that you are also considering DCA as an approach. However, for a long term investment, you might want to look into other markets that generate higher returns (S&P 500) or a basket of ETFs that can be easily accessed by you through robo-advisors. Based on historical records (Not reflective of future returns), S&P500 has generated higher returns compared to STI ETFs. I personally still invest in STI ETFs, mainly because of my belief that I will be entrenched in Singapore's economy for a long period :)

Insurance

Hospitalisation Insurance (H&S)

Now to add on with some information that doesn't directly answer the question: You may now be tempted to then not purchase a personal hospitalisation insurance due to several reasons: "I already have a plan with my company what? Why need another one" And some things for you to consider if you were to decide on whether to keep your personal hospitalisation insurance: Portability of corporate insurance: While some company insurance is portable even when you leave the company, most of them laspe once you leave the company. Example – the Transferable Medical Insurance Scheme which is a group insurance that has inpatient coverage up to a maximum period of 12 months when an employee leaves his employment. Coverage of corporate insurance: Most corporate insurance will have claim limits imposed on them. In the unfortunate scenario where you reach your claim limit of your corporate insurance, you will be left to deal with the expenses alone. Retirement plans: If you intend to retire with a hospitalisation plan, get your own one. Your company likely will not cover for you once you retire.

Investments

SAXO Capital Markets

ETF

Robo-Advisors

Hi, This really depends on the amount of capital you are willing to invest. As you have mentioned, you could take advantage of the lower fees provided by Saxo for better savings in the long run. Generally, with proficient investment knowledge, DIY would be the better approach. Some things to consider: I would also want you to try and see if the robo-advisors have overlapping ETFs investment - that would result in you having the false comfort of being "Diversified" Other than ETFs, do consider other instruments to further refine your portfolio. Do consider your investment strategy during an economic downturn. Would you still be willing to sell your transfer your portfolio from robo-advisors to Saxo during a loss?

Investments

Stashaway

MoneyOwl

Hi, Just to check, What would be your risk tolerance? What is your investment horizon for StashAway or MoneyOwl (is it 3 years like Manulife)? What are your expected returns?

Investments

Stashaway

DBS

Hi, We will not be able to answer if this is a wise move without first understanding your current cash flow, assets and liabilities. I personally do not insist on my friends and family on having an extremely fluid emergency fund if they are comfortable with that. However, do you know that it takes minimally one month for you to withdraw from SSB? Are you confident that you can survive 1/2 month(s) (in emergency scenarios like loss of job upon an accident) before you get your rainy-day funds from SSB? With regards to your REITs investment, putting all of your investments into REITs may not be the most efficient form of investment. We first have to find out why are you investing in REITs, your purpose and what you want to achieve in your investment journey
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