Sharon - Seedly
Seedly logo
Seedly logo
 
Sharon

My favourite childhood memory is not paying bills.

Sharon

Corporate Communications at A Public Listed Company

About

My favourite childhood memory is not paying bills.

Credentials

Corporate Communications at A Public Listed Company

Sharon

Corporate Communications at A Public Listed Company

  • Answers (94)
  • Questions (1)
  • Reviews (6)

Insurance

Savings

Investments

Has anyone used this tool called GoalsMapper? Any reviews please?
I was wondering if there's a platform that's similar to the ones that financial consultants use. I googled and found one that's called Up, a platform by local FinTech co. Better Trade Off. I finished the onboarding. Looks pretty interesting and comprehensive. Disclaimer for the link: Min. 2 referrals for me to qualify a $5 foodpanda voucher... Seems quite hard? Anyway, I just give it a try. Never try, never know. :p You can, of course, go directly to upplan.sg, if you feel more comfortable that way.
👍 0

Savings

Insurance

Hi. I am a 29 year old male who has no financial planning and no insurance. I have bare minimum savings. Where do I begin? To save and to grow my money? Thank you!?
Step 1: Build up your emergency funds first It depends on your financial obligations. Usual guideline is 3-6 months of expenses, for salaried employee; 6-12 months for self-employed. No hard and fast rule. Step 2: Ensure you get some basic insurance coverage Hospitalisation and critical illness coverage are important. After that, if you like, you can look at other stuff like personal accident, disability income. Once Step 1 & 2 are done, you can set aside some money for investing. While you're doing all these, if time allows, you can do some side hustle to boost your savings, plus also upgrade yourself. This is an increasing open world. Anyone can work with you from overseas, and vice versa. For example, there was this guy in The Burrow Facebook group who found his job via Reddit and has been working from home (remote work) for 4 years. Goes to show how technology has changed the way we work and find work. Hence, when we believe that we're not just competing locally but globally, it will spur us to improve our skill sets, and in turn, these will increase our value, allowing us to stay employable.
👍 2

DBS

DBS digiPortfolio

Robo-Advisors

Investments

Savings

Fresh Graduates

Lifestyle

Retirement

Savings Accounts

Stocks Discussion

Dbs digiportfolio?
You have a long investing horizon! Just take your time to understand the product and read up more on other investment vehicles to see which will suit you best. These days (as compared to my time), there are a lot more sharing among people online on how they're investing, so you can get some insights, which can be helpful in shaping your direction. I recommend joining the Seedly Facebook group for a start, as the discussions there are quite robust. All the best!
👍 0

Investments

Blue Chips

Regular Shares Savings Plans (RSS/RSP)

OCBC

Financial Planners

Meeting up with an OCBC advisor next week, may I know what kind of questions should I be asking?
"How much commission you're getting?" It's like the elephant in the room. Also, check whether there's any fee related to receiving dividends.
👍 0

Investments

Is buying a car considered an investment?
No. Maybe you want to monetise it, so that it can be an asset to earn you money. However, based on this article by The Straits Times: "Almost $2,000 a month for a new car, half that for taxis, and $100 for bus/train option" It's like almost driving full-time, in order to offset the costs before you can even make a profit. In this challenging climate, a car is best used for leisure than a tool to give you an income. Car, taxi and bus - how the costs stack up https://www.straitstimes.com/business/invest/car-taxi-and-bus-how-the-costs-stack-up
👍 0

Investments

Fresh Graduates

Stocks Discussion

Personal Finance Books

Investment Courses

I am a 22 yo, working full time. I'm looking for ways to grow my wealth (like put in a sum of money and let it grow without much effort), I've been reading to gain financial literacy but kind of struggling. Any advice?
I don't think anyone can manage your investment, even fee-based financial advisors. What they can do is to give you advice and you will have to do research on their recommendations, then decide for yourself. No one's more interested in your own finances than yourself. I had the old AIA Achiever ILP which I surrendered last month. I chose to hold it for more than 12 years until it broke-even. Hope the new version is better for their customers. If you prefer to grow a sum of money without much effort, I'd recommend savings plans (like NTUC Revosave), or robo-advisors.
👍 0

Insurance

Investments

Investment Linked Policies (ILP)

I’ve invested in a long term investment-insurance plan at $2.4k/year. Based on the performance chart, the 3 months, 6 months, 1 year, 5 years are all negative. Only the 10 years is positive at 4.5%. Is the investment doing well?
Sharon
Sharon
Level 6. Master
Answered 4d ago
1) Since there's fresh funds injected into the plan every year, you can compute the XIRR, to determine the annualised return. It is the rate at which your investments compound year after year. You can read up on how to calculate XIRR here: http://singularitytruth.blogspot.com/2019/02/why-i-use-xirr-and-how-i-calculate-it.html According to the Greatlink Global Real Estate Securities Fund factsheet, there are dividends paid out from 2006-2019. I'm assuming you've been investing it for a while. If you still have the statements on how much dividends you get, you can include these dividend amounts + yearly premium when computing the XIRR, so that you'll know the real annualised return on this. Usually for this type of fund to do well, you need to hold at least 10 years because the high costs eat away at the returns. In your case, according to Bloomberg, there's a front load fee of 5% (sales commission) and expense ratio 1.66%. In GE's AR 2019, Greatlink Global Real Estate Securities Fund indicates a 7.39% (2019 figure) for 10 years, or 4.11% since inception. If you take 7.39% minus expense ratio (and 4.11% gain minus expense ratio), your gain would be reduced to 5.73% (10 years) and 2.45% (since inception) respectively. If it's your 4.5%, your gain will be reduced to 2.84%. Based on my understanding (someone correct me if I'm wrong), the expense ratio is not the total expense ratio. But since that's the only figure I can find, we'll just take that. Because I had an AIA ILP, which invested in one of the funds called Emerging Market Balanced Fund (10 years - 3.12%, Since 2006 Inception - 2.65%). It's TER (Total Expense Ratio) mentioned in their memo in 2011 is 1.75%. However, AIA AR 2019 states expense ratio as 1.55% (2019 figure). And as per the insurer's note: "Expense ratio does not include (where applicable) charges for insurance coverage, brokerage and other transaction costs, performance fee, foreign exchange gains/losses, front or back end loads arising from the purchase or sale of collective investment schemes and tax deducted at source or arising out of income received." So I'd think the actual expense ratio (which we should consider is TER) is actually much higher than the one stated in their AR or on Bloomberg. 2) You may also want to seek a client adviser to review this and other finances. MoneyOwl previously offered a free comprehensive financial planning service, but I think it's no longer free now. https://investmentmoats.com/wealth-building-2/review-comprehensive-financial-plan/ https://www.moneyowl.com.sg/comprehensive/ I'm not from MoneyOwl and I don't use their service. I just like their business model of "Non commission-based Advisers", which would be more objective and probably be more aligned with their clients' interests than conventional advisors from insurance companies. Hope the above gives more clarity. I'm also learning more about the various investment vehicles as I go along. If something's not right, please feel free to point out. Thanks!
👍 0

Investments

Stocks Discussion

Online Brokerages

ETF

I am a young adult (27) hoping to invest in US Market - should I be doing DCA monthly to US ETFs (eg FSMone), or pick "safe stocks" like Walt Disney, Amazon etc for Growth/Capital Gain potential?
Sharon
Sharon
Level 6. Master
Answered 5d ago
Behind every stock, there is a company and its business environment is constantly changing due to competition, macro outlook, customers behaviours, government intervention, etc. Hence, that said there is no "safe stocks". Remember that police banner around our neighbourhoods that say "Low crime doesn't mean no crime"? Lower risk of insolvency or business going down hill doesn't mean no risk. You will need to monitor these stocks too. If you feel confident in learning and analysing about them, you can try your hands in stocks. Otherwise, DCA in US ETFs (you may want to go for Ireland-domiciled ones to have a lower witholding tax) with robo-advisors (or FSMOne) can be a viable option.
👍 1

Investments

Robo-Advisors

Undergraduate

Personal Finance Books

Investment Courses

How should I go about learning how to invest as an undergraduate?
Sharon
Sharon
Level 6. Master
Answered 1w ago
If books are not your cup of tea, watching a video explaining the summary of a book may help. It saves time and it is also easier to understand with the visuals. I like this channel called The Swedish Investor. He does an excellent job. https://www.youtube.com/channel/UCAeAB8ABXGoGMbXuYPmiu2A You can also start by reading more financial blogs. Here are some of my favourites: • Dr Wealth • Investment Moats • Financial Horse • New Academy of Finance • The Invest Quest Also, joining financial groups on Facebook (e.g. Seedly, Financial Horse's Singapore Stock, REITs and Bond Investments) will help in enhancing your knowledge as we learn from one another. And...If you are willing to pay to accelerate your learning, you can attend courses where fellow investors teach what they know and are good at. So far, I attended: • The Fifth Person - Dividend Machines (Only 1 enrollment per year) • Dr Wealth - Early Retirement Masterclass • The Asia Report - Singapore Banks • The Smart Investor - All Stars Portfolio You can definitely invest with a robo-advisor as you learn. In fact, as you research, you might pick up some useful knowledge along the way.
👍 0

Stocks Discussion

Investments

Singapore Airlines (SIA)

Online Brokerages

COVID-19

I am new to investing. Any thoughts of buying SIA shares with the intention to hold on for long term? Given that the price is quite low, is it a wise choice?
Sharon
Sharon
Level 6. Master
Answered 1w ago
SIA is a cyclical stock, which has a more direct relationship to the economy. When times are good, people tend to spend. However, when times are bad, people will tighten their purse strings and cut down on discretionary items like travel. IMO, SIA is not a good stock to hold for too long. Cyclical stocks are volatile. Also, we need to remember oil costs will play a huge part in affecting SIA's profit margin. Usually we will try to go for non-cyclical industries like utilities or food, things that we cannot do without even when times are bad. Since you already have the stock, I'd suggest you hold until the economy recovers and that might be 2 years or longer... no one knows how long this may last. You will know when it happens. People are traveling again internationally without fear of Covid-19 and countries borders are once again open. Probably all these will happen when most people are vaccinated against the virus. Once people are bullish about it and the stock prices rise, you may want to sell it then. What you can do is to have the patience to wait this out, or cut loose from SIA and invest in a better stock.
👍 0
Load more questions
Level 6. Master
420PointsGoal 750
330 POINTS TO LEVEL UP
Browse Rewards