Xavier - Seedly
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Xavier

Just a simple millennial who loves giving every a dollar a job in hopes that one day his efforts will be worth while! šŸ¤—

Xavier

About

Just a simple millennial who loves giving every a dollar a job in hopes that one day his efforts will be worth while! šŸ¤—

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Xavier

  • Answers (5)
  • Questions (0)
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Investments

S&P 500 Index

Xavier
Xavier
Level 3. Wonderkid
Answered 5d ago
Hi as the amounts per month would be relatively small (don't get me wrong, I'm referring to whether it's economical or not), it would be better IMO to do the investments in batch if you must really invest in S&P 500. Let's say every 3 months interval, you would have $1050.00 to invest which would be more economical. This is because brokerages charge a commission when you buy through them. Another thing to note is where the ETF is listed and also whether you want an accumulating (dividends reinvested)or distributing (dividends distributed) version. Do take note, those distributing ETFs listed in US stock exchanges are subjected to a withholding tax of 30%. Hence, ETFs domiciled in the UK is worth looking at cause they are not subjected to 30% withholding tax. Hope this helps! šŸ¤—
šŸ‘ 0

Stocks Discussion

DBS Vickers Securities

Investments

Xavier
Xavier
Level 3. Wonderkid
Answered 6d ago
Hello, For DBS vickers I wouldn't recommend for US stocks. This is because they have a custodian fee for holding US stocks, SGD$2.00 per counter per month. However, for vickers, purchasing of local SG stocks would be great via their cash upfront option. I would recommend interactive brokers (IB) or standard chartered (SCB) for US stocks as they would be more cost efficient. Also do check out the articles in Seedly where they too have a comparison of the different brokerages available in Singapore. I personally read their articles which gives me a better over view. Hope this helps šŸ¤—
šŸ‘ 0

Investments

Savings

Xavier
Xavier
Level 3. Wonderkid
Answered 6d ago
I believe there will be no deduction if you have already set up an auto deduction for your DCA with the Robo-Advisor. The remaining invested money will continue to be invested. Guess you can find out more from the website of the Robo-Advisor used? If I may I ask which Robo-Advisor are you using?
šŸ‘ 0

Miles

Grab

MileLion

Credit Cards

Xavier
Xavier
Level 3. Wonderkid
Answered on 29 Oct 2019
Hi, I personally feel Citi rewards card would be a good option for topping up of grab pay wallet as it gives you 10X rewards points equivalent to 4miles per dollar. The points can then be used to convert to available frequent flyer miles (Citi rewards options available online) of your choice. However, do take note that 10X points are capped at $1000 per month. So if you intend to top up huge amounts into your grab pay wallet, do take note. Another option would be American Expressā€™s Krisflyer card if you are into collecting Krisflyer miles only. However, only 3.1miles per dollar is offered on grab transactions (capped at $200 per month). Moreover, if you spend at macs, subway, Watson, etc (quite a few more stores) you get additional miles too. Hereā€™s a link to the Krisflyer card if you want more information: https://www.americanexpress.com/sg/credit-cards/singapore-airlines-krisflyer-credit-card/ In summary, I would recommend Citibankā€™s reward card or Amex Krisflyer card. Hope this helps! Cheers
šŸ‘ 0

PFF Panel 4

Loans

Savings

Seedly PFF 2019

Xavier
Xavier
Level 3. Wonderkid
Answered on 02 Mar 2019
Personally, I feel you should set aside at least 10% of your take home pay. So with regards to saving youā€™re on a good start since you save 20%. After that, you can concentrate the rest on paying off your loans, bills, and other miscellaneous spendings (like going out, transport, etc). With what you save, let it accumulate over time and you can have a sum to invest, or you can easily do DCA(dollar cost averaging) that helps you invest monthly or periodically. Hope this helps.
šŸ‘ 1
Level 3. Wonderkid
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