Serene Toh
Level 5. Genius
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  • Asked by Anonymous

    Serene Toh
    Serene Toh
    Level 5. Genius
    Answered 4d ago
    I treat it as extra income (same as bank interest) then just save it aside it to accummulates enough to invest. Translate from chinese (mosquito meat, not matter how small is still meat) As you say, you've only just started, so this will only grow with time. Remember the compounding curve. This is just the begining. Jia you.
  • Asked by Anonymous

    Serene Toh
    Serene Toh
    Level 5. Genius
    Answered 4d ago
    A few quentions. Does your savings include your emergency funds? Do you expect to return to Singapore soon, or will you be overseas for a few more years? Which Country are you based in? If you are based in developed countries, like europe or the states, You might not want to put all your savings into CPF and want to look into investing from those countries you are in, while you are still a resident. Do check with them what will happen to your investment if you leave the country. (Usually should be able to keep it to sell in future. Only can't do additional trades.) Suggesting this as it is actually cheaper and and easier to buy stocks when you are in europe or US. If not, Probably just put your extra Savings (minus emergency) in CPF.
  • Asked by Anonymous

    Serene Toh
    Serene Toh
    Level 5. Genius
    Answered 5d ago
    As they say "prevention is better than cure." Instead of finding an alternative "cure" to relieve your stress. You should consider what is causing your stress, and find ways to prevent it. Because spending recklessly & money issues is the least of your problems if the problem persist.
  • Asked by Anonymous

    Serene Toh
    Serene Toh
    Level 5. Genius
    Answered 6d ago
    Based on personal experience, I got an insurance for the period that I would be studying overseas for. Travel insurance is not required if you stay in the country. If leaving the country for holiday, I would buy travel insurance off the local website with my travel ticket (air or train). But If your son already have a insurance policy for studying overseas, you might also want to check the terms & condition to see if it covers travel to nearby countries. (Typically, health & PA will be covered. Tickets & delays might not) Do note that this was quite some time back and my comments might be outdated.
  • Asked by Jansen Ng

    Serene Toh
    Serene Toh
    Level 5. Genius
    Answered 1w ago
    Mine is; don’t spend more than you are earning. Basically to pay credit card bills in full. Then save, save and save. My mum has no issues with us splurging occasionally, as long as we keep to the basic rule. If you want something you can’t afford, you save for it.
  • Asked by Linda Tan

    Serene Toh
    Serene Toh
    Level 5. Genius
    Answered 2w ago
    In my case, bonds and endowment plans was the only investment I had in my early 20s and know nothing about investment. As your knowledge get better and your confidence grows. (And you have more money) You will adjust accordingly. There’s a lack of information here. Is your 30% based on what you have now or your plan for what you plan to save for investment in the next few years. If it’s what you have now. Depending on the amount, might not be worth diversifying now. E.g for good bonds I personally will not subscribe less than $10K. (SSB except, cause I treat it like a high interest fix savings account.) Don’t be too fixated on the percentage, until you have a sensible pool of investments and need to balance out, maybe do a review of all your investment every half a year or annually. (Usually the percentages are based upon a fairly large sum of money, so might not be relevant to beginners who only have a small sum to start with) IMPORTANT. Don’t die die buy bonds because you need to put 30% in. Look for what is suitable. Similarly to your other 70%. (Ignore my comments if you are looking into funds and their proposed allocation. I am assuming you haven’t bought anything so your first purchase will actually be 100% of your portfolio minus savings, and I’m assuming you’re not given a huge pool of investment funds by your parents.)
  • Asked by Anonymous

    Serene Toh
    Serene Toh
    Level 5. Genius
    Answered 2w ago
    Not advisable move by you. As mention the master Mr Lok. Theres a min amount that needs to be kept in the account otherwise there’s a charge. Better check if one time charge or monthly. If monthly it means you by keeping the account empty you have to pay the bank to keep the account for you, the debt will build up over time. Don’t make any sense at all. Either you top it up till min amount now or you go to the bank to close the account, and only open when you need. Can try asking to waive the fees you owe for empty account. (unless you‘ve kept the account empty for too long, usually they’ll let it go, not sure if theyll waive for closing account though, but no harm trying.) Legally, the bank have the right to sue you. The min sum and fall below fees are in the legal documents you sign when you open the account. Even if they don’t do anything and you ignore them, this will be in your financial record. Better get this settle before it affects your credit rating. You can always use the min sum as you emergency savings if you keep the account.
  • Asked by Anonymous

    Serene Toh
    Serene Toh
    Level 5. Genius
    Answered 2w ago
    Note the key work here is “should” not “is” and not “must”. This the the comment I always make for everybody. Do what you are comfortable with and not what people tell you. The comment is just a sweeping statement made for reference. It will not take into account your personal situation. Just ask your self this question. Are you ok to risk losing all your money persuing the possibility of higher gains? If yes then you can go for the highest risk. Personally, i find using 1 risk level to measure all your investments really unwise, I split my risk levels into different portions. I.e. a certain % for high risk high gains (lose 50-100% also won’t blink) this % for mid range.... (stable companies with dividends) then another % for bonds. I suppose this is what diversification is about. Just find it really uncomfortable that Advisors are just using a blanket risk level for your whole portfolio. A better description I feel would be “what is your risk level for this portion of your portfolio.”
  • Asked by Gabriel Tham

    Serene Toh
    Serene Toh
    Level 5. Genius
    Answered 4w ago
    Actually CPF seems to be a big discussion point. It would be interesting to have an educated debate on the Pros & Cons of CPF as an Investment & Retirement Strategy. P/s: For the less financially educated masses, I would highly recommend CPF to them, but it might not be the best product for the more financially savvy.
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