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Tee Hon Eng

Tee Hon Eng

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Tee Hon Eng

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Insurance

Lifestyle

Investments

Savings

Family

Do Insurance Agents actually disclose their commissions to their clients?
Tee Hon Eng
Tee Hon Eng
Level 4. Prodigy
Answered on 07 Apr 2020
I bought my policies from NTUC, when signing document, it explicitly indicates the amount to be distributed for such purposes.
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Income Tax

CPF

How should a tutor declare self employment? I would like to but I am unsure of the accounting part as I mostly receive cash payments?
Tee Hon Eng
Tee Hon Eng
Level 4. Prodigy
Answered on 07 Apr 2020
You may refer to this page to calculate and declare your income. https://www.iras.gov.sg/IRASHome/Businesses/Self-Employed/Working-out-your-taxes/Calculating-and-Reporting-Business-Income/ Generally, as a tutor, you should calculate all payment to you as revenue. Minus some business expenses related to tuition could include: - Stationery and postage fees But must exclude: - Cost of travelling to and from your home You should refer to this: https://www.iras.gov.sg/IRASHome/Businesses/Self-Employed/Working-out-your-taxes/Deductions-to-Save-Tax/Business-Expenses/ As self-employed, you should contribute to your Medisave: https://www.cpf.gov.sg/Assets/members/Documents/MARates2016.pdf
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DBS Vickers Securities

Online Brokerages

Brokerages

Hi there. Recently signed up for DBS Vickers Cash Account, and found out there are Custodian Fees attached to it. Are these fees chargeable if I only deal with Singapore Market Stocks?
Tee Hon Eng
Tee Hon Eng
Level 4. Prodigy
Updated on 21 Mar 2020
Hi Anonymous, following is a link to similar question 2 weeks ago. https://seedly.sg/questions/do-i-need-to-pay-a-custodian-fee-while-holding-stocks-from-sgx-through-the-dbs-vickers-cash-upfront-account You can always search for similar questions on seedly or when in doubt, you should approach your broker for more information. Short answer is no custodian fees for stocks in your CDP.
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Investments

S&P 500 Index

Stocks Discussion

ETF

Why doesn't everyone invest, it seems rather easy?
Tee Hon Eng
Tee Hon Eng
Level 4. Prodigy
Answered on 21 Mar 2020
You would have to be extremely constant and able to keep up with the inflation rate. Also ETF is tracking the market, times like today, you could have lost 30% of the value. Thus, people tries to balance their portfolio with other products. Not sure how you derived at 1 million dollar. I did some searches and found a calculator. https://dqydj.com/scripts/spcalc/sp500reinvester.html Final amount for period of 20 years starting Jan 2000 is $645984.70. You probably need more than 25 years. And can you imagine how much $1000 is worth 25 years ago?
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Investments

Robo-Advisors

Stocks Discussion

Dividends

REITs

If you have 20K now, how would you split your money into each of the following asset type - robos, dividend stocks, S-REITs?
Tee Hon Eng
Tee Hon Eng
Level 4. Prodigy
Answered on 19 Mar 2020
If we are looking at short term goals, I do feel it is important to look that the fees ratio. I recall briefly, according to calculation: 1 time investment of more than $9,000 worth would have better fees ratio. Thus, look back at the shortlisted stock/ S-REITs and pick 1 or 2 and place the remaining amount into robos.
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Stocks Discussion

Investments

How do I go about opening a stocks account, and does opening a stocks account have any requirements?
Tee Hon Eng
Tee Hon Eng
Level 4. Prodigy
Answered on 17 Mar 2020
This article may be useful to you! https://blog.seedly.sg/the-ultimate-cheatsheet-cheapest-stock-brokerage-in-singapore?utm_source=telegram Choose a broker and go to the webpage, it would advise you on the requirements. Generally, they would have you to declare citizenship, education etc. For non custodian accounts, you would required a CDP account. You would need to set that up first.
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AIA Hospital Income

AIA

Insurance

Healthcare

What is the AIA Vitality all about?
Tee Hon Eng
Tee Hon Eng
Level 4. Prodigy
Answered on 17 Mar 2020
It is a rewards programme. You can refer to the following link for more information. https://blog.seedly.sg/aia-vitality/ Personally, I feel that my experience with the app is not seamless. (Samsung) The user interface is not clear cut, requires a lot of loading and re loading.
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Investments

STI ETF

ETF

Stocks Discussion

Is investing in the STI ETF still worth it?
Tee Hon Eng
Tee Hon Eng
Level 4. Prodigy
Answered on 14 Mar 2020
Investment is not one size fits all. I would think that STI ETF is generally lower risk, that is why some recommend it for beginners. If you are doing intensive research regarding certain companies and have funds to diversify your portfolio, buying individual stocks may result in higher return.
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HDB BTO

Property

Could you share what are your opinions on Open Booking of flats? Is it easier than BTO to get a flat?
Tee Hon Eng
Tee Hon Eng
Level 4. Prodigy
Answered on 14 Mar 2020
It is faster for you to get a flat. Once your application is successful, you are able to book the flat. For BTO, you will be given a queue number and you would have to wait for your appointment in order to have a chance to book a flat.
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Investments

Blue Chips

Stocks Discussion

I am unsure about OCBC BCIP and voting rights. Would anyone be able to advice me on the following?
Tee Hon Eng
Tee Hon Eng
Level 4. Prodigy
Answered on 14 Mar 2020
If you were to move them to your CDP account, you may have voting rights. Individual listed companies may have their own protocol. Annual reports can easily to accessed online, since we are going green, there may be a chance that annual reports are not even printed?
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