Serene Toh
82 upvotes received
About

Serene Toh's profile is not filled up yet.

Credentials

More

Serene Toh's credentials are not filled up yet.

  • 41

    Answers

    Answers (41)

  • 5

    Questions

    Questions (5)

  • 0

    Reviews

    Reviews (0)

  • 2

    Topics

    Topics (2)

  • Asked by Anonymous

    Serene Toh
    Serene Toh
    41 Answers, 82 Upvotes
    Answered 5d ago
    (Not qualified Advisor) I noticed that too, but don't really have enough funds, time & expertise to go into the details of foreign bonds. So last year I decided to buy a Unit Trust focusing on foreign bonds, that gaves fixed monthly dividends. The banker that sold this to me, repeatedly reminded me that this is a high risk investment. However it would be better than me putting my money in 2-3 bonds. Agree with Luke on the advantages of a foreign bond fund. Plus it is tracked in Sing dollar, so don't feel the pain of exchange rate (doesn't mean it don't exist).
  • Asked by Anonymous

    Serene Toh
    Serene Toh
    41 Answers, 82 Upvotes
    Answered on 15 Feb 2019
    Yes. There will be a tendency to spend unconciously, if you are just starting out with cashless system. The act of retrieving money from ATM & counting it out. actually helps to act as a buffer for you to think before actually buying an item. This is especially true if you are an impulsive spender. That said, if you get use to the system, have been using cards for a long time, you can set up your own buffers with regular routines to stop yourself from spending too much. If you are a control freak like me, the cashless system actually makes it easier for me to Budget, because everything I bought is accounted for & recorded. The biase thinking that you will spend more cashless, actually makes me even more careful when I'm spending. As I've once hear (regarding another technology) "when first adopting any new system, you will find it more difficult and you'll probably find it less efficient & less cost effective, but once you get used to it and learn how to use it to your advantage, the efficiency and cost savings will more than make up for the inconveniences during the starting period." Conclusion, whether you'll spend more or not really depends on the individual, their financial habits. There are actually different cashless systems out there. if you are the type to spend uncontrollably, use a cashcard instead of a credit card. it's still cashless, but you can't spend more than what's in the card. I would really like to see payment systems that allows you to set your budget on how much to spend and gave reminders at point of payment that you exceeded your budget before getting permission to go ahead and pay for the item, etc.. Anyone technologically savvy enough to do this out there....
  • Asked by Leong Wen Fong

    Serene Toh
    Serene Toh
    41 Answers, 82 Upvotes
    Answered on 14 Feb 2019
    four words! ”Huh CNY over Liao?”
  • Asked by Anonymous

    Serene Toh
    Serene Toh
    41 Answers, 82 Upvotes
    Answered on 08 Jan 2019
    From the post, it sounds like you want to leave & have already decided to leave, so don't actually need any advise. Maybe you can let us know what are the reasons that even made you consider staying? e.g. Nice boss, relaxing work, near you house, etc..?
  • Asked by Anonymous

    Serene Toh
    Serene Toh
    41 Answers, 82 Upvotes
    Answered on 08 Jan 2019
    Are you sure you really don't like the way things are, or are you just homesick? If home sick, give it some time for yourself to adapt. There's actually pros & cons to both options, as you mention, you don't hate this current company, just the situation in UK, what's to say that you will like the company of the Singapore based job, even if it has a higher pay? How's your work life balance & lifestyle in UK? Will you be able to get the same in Singapore? You don't have to regret your decision, it's not all that bad, having worked overseas before can actually boost your portfolio, and make you more employable, but you do have to work for at least 1-2 years min to have an impact, so try to tahan at least that long. Is your company a MNC? If it is, you can try asking for a transfer. Whatever decision you make just make sure the employment opportunities are available before throwing in the letter. (If you are facing discrimation in your company, start searching for job opportunities and try to get out ASAP, but highlight this issue to a neutral person before you leave, nicely, of course. If you are facing it outside, try to get some advise from the nicer people in your company)
  • Asked by Anonymous

    Serene Toh
    Serene Toh
    41 Answers, 82 Upvotes
    Answered on 04 Jan 2019
    The first property you buy should alway be the one you want to live in (and can tahan living in for life). The investment part should only be secondary and not your main reason for buying the house. This is my personal opinion only. This way, even if rental market is bad, you can alway move into your unit, and you also won't get "stuck" with a property that's inconvenient for you live in, when the property market is down. My unprofessional 2 bits worth of opinion is, HDB actually can potentially gave you a higher rental yield compared to private condos if you do it right, but you will be subjected to HDB rules. As the cost of HDB is lower, you can potentially get a higher monthly rental compared to your monthly mortgage, meaning you can get extra income per month. But you have to research to find out the average rental in the area and compare against the cost of the unit & your estimated monthly mortgage The best earnings from private condos is the capital gains you get from selling the condo, especially if you bought it at launch, rental usually will just try to cover mortgage & maintenance fees where possible, so its difficult to get a high enough rent for income, until your mortgage is fully paid up. In both cases, you need to consider that you can afford to pay the monthly mortgage, even without rental. I understand where you are coming from. It's the 6K Cap that is pushing you to make a decision so you don't regret missing the boat when you go beyond the salary cap. But don't buy for the sake of buying. If you do decide to get a HDB, it should be for the right reasons, and not just to avoid missing a boat. In the mean time, it doesn't hurt to shop around for a property while you are trying to decide. Was viewing private earlier for 1-2 years but couldn't find one at reasonable price. Took me about 1 year to find the right house after I decided to go for a resale instead. Knew it was the fated one, because I manage to get all emo viewing a house with no reno.
  • Asked by Anonymous

    Serene Toh
    Serene Toh
    41 Answers, 82 Upvotes
    Answered on 04 Jan 2019
    Also a Single, I asked a similar question before. I tried to approach this from the areas I'm worried about after retirement and then try to settle them 1 by 1. Accomodations was the first thing that I worried about for retirement. Unless you will be inheriting a house from your parents (no siblings, otherwise might need to pay them their share of the house), you probably want to make sure you at least have a roof over your head when you get old. As a Single the cost of this item will also be higher than most people. (single income, if HDB you get less grants & non prime locations if you want cheaper, brand new homes) It will probably be the biggest investment for most Singles. Second item I'm worried about is health and all the costs involved if anything happens. This I try to cover with insurance plans. (I actually covered myself with CI Plan for extra 5 more years then what my agent suggested.) This item is actually relevent even before retirement. Third will be Living Cost, how to ensure I get regular & sufficient money for Daily Living after Retirement. 1. I got a retirement plan with insurance company, (also planning to top up my CPF to maximise future payouts) 2. Invest in bonds & dividend stocks & funds. 3. I've also considered the potential to rent out extra room in house for extra income, if I really need in future (house location will affect the amount you can get) Last will be Wealth Accumulation, basically how to make my life even more comfortable (can be for now not necessarily for retirement only) This is the one giving me headache now, how to get more money. Actively studying investing now, actually got more stingy with myself, to save more for investing. Almost forgot, need to ensure got sufficient cash on hand to ride out market uncertainties, especially after retirement. I've also considered renting out my extra room NOW to get extra cash, can't bring myself to to this yet. My target is financial independence by 45, so only a few years left. Idea is to generate enough passive income to pay for my daily survival expense, so my salary from work can be extra cash for making my life better, paying for luxuries, etc.
  • Asked by Anonymous

    Serene Toh
    Serene Toh
    41 Answers, 82 Upvotes
    Answered on 24 Dec 2018
    If you are going to study political science, with or without the scholarship it might be better to take the scholarships. If you don't like the job after, its more likely that its the course that's wrong for you and not the job (most jobs are the same no matter where you are). If you are taking the course just for the sake of a scholarship and the secure job. You really need to think about it. Research what the course is about and what type of job it will lead to. Then consider if you can tahan or not. Its not just the 5 year bond, its the time & effort in university as well. Most of the time people who take a government job are not looking for excitement, but just want a stable job that they can hold till retirement. Financially, it does make sense, to take the scholarship, only if you want to take that course or if you have no idea what you which course you want to study. if you are the type that can tahan and hold on. take it and use the 5 years to build your first pot of savings.
  • Asked by Anonymous

    Serene Toh
    Serene Toh
    41 Answers, 82 Upvotes
    Answered on 12 Dec 2018
    I remembered that I was the one that requested my parents gave me monthly allowance instead. Reason was that I can manage my money better that way. Even negotiate the amount to received (using my elder sister's allowance as a base). even managed to asked for more then my sis when she was my age on the basis that she's always on a diet & I eat more. :D (was obese back then) Mobile is not available then, but the transport costs are included in the allowance. I'm mostly driven by my dad & take bus (and not cab) if he is not free. Only got a concession pass when I got into Uni. (didn't get the concession before because I did a quick calc that showed the concession pass was more exp than the total bus rides) With this, together with my ang pow money, I still manage to spend a tidy sum on Idol Merchandise. Any Electronics will only be bought by my parents during my birthday. Enough of my reminisces. Monthly allowances is definitely a good way to learn to budget. problem is if he is ready for this. Discuss with your son, start with a much lower allowance than what you think is reasonable and let him negiotiate his way up. Include everything that you are paying for him, and made it clear that you will not gave him extra. And most importantly stick to it. This negotiation process is important for you to learn how he is spending his money & for you to teach him what is a necessity & what it a luxury. so be as detailed as you need to be. If you start of too high, you won't beable to learn these details. Start with bare minimum next year and ask him to record his spendings for the first 2-3 months then both of you review it work out the new allowance (lessen it if you think he is spending too much on unnecessary stuff) Along the way If he wants to negiotiate and increase, just tell him to justify it, and judge if it a luxury or need that he is spending on. Even if he runs out of cash before the next allowance, I suggest you stick to your gun and refuse to top up for food & prepare a packed lunch instead. (personal tip, that's the excuse I alway use to get more cash out of my parents. Puppy eyes... But I'm hungry... Works like a charm everytime.) If your son can still successful squeeze cash out of you & let you feel it is reasonable, despite you being really strict and sticking to your gun, Congratulation, he's learnt how to be money savvy. (At the very least, he's learnt how the world works, and that money doesn't come easily)
  • Asked by Anonymous

    Serene Toh
    Serene Toh
    41 Answers, 82 Upvotes
    Answered on 05 Dec 2018
    Sounds like the pay cut is the only thing stopping you. 17% pay cut sound like a lot, to be honest, I wouldn't take it if i'm still holding on to the previous job. Maybe you need to compare the pay to standard market rate instead, hopefully, it makes you feel more comfortable about the pay given. Since you already left the old company, and feel that this new one works for you. Then why not, especially if taking the job would make you more marketable if you decide to leave later.
See more questions

Download Seedly’s free

Expense Tracking App
Download on the App StoreGet it on Google Play
  • Sync all your banks in one place
    Sync all your banks in one place
  • Quickly add transactions and view reports
    Quickly add transactions and view reports
  • Community Q&A and blog integration
    Community Q&A and blog integration