Xavier - Seedly
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Xavier

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

Xavier

About

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

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Xavier

  • Answers (6)
  • Questions (1)
  • Reviews (0)

SeedlyTV S2E01

COVID-19

Career

I'm graduating in May this year, job market looks like it is really bad. What do you think are the best steps for me to take?
Xavier
Xavier
Level 3. Wonderkid
Answered on 03 Apr 2020
Keep your options open while in the mean tone, pick up some skills while sending out job applications. Read up on topics that you are interested in, or beneficial to you. Never give up, now's the time to catch up with reading and learning ☺️ All the best, I believe you will find some thing that you will be interested in. 💪🏻
👍 0

Investments

S&P 500 Index

I want to regularly invest $350 every month in the S&P 500. What is the best way to do so?
Xavier
Xavier
Level 3. Wonderkid
Answered on 26 Mar 2020
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! 🤗
👍 0

Stocks Discussion

DBS Vickers Securities

Investments

Hello! I had a windfall of $200k and I would like to invest all of it as I'm afraid I might otherwise spend it on stupid stuff. Would DBS Vickers be good for US stocks?
Xavier
Xavier
Level 3. Wonderkid
Answered on 26 Mar 2020
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 🤗
👍 0

Investments

Savings

What will happen I does not top up my robo advisor?
Xavier
Xavier
Level 3. Wonderkid
Answered on 26 Mar 2020
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?
👍 1

Miles

Grab

MileLion

Credit Cards

Which Miles Card is best to use for topping up of my GrabPay wallet?
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 Express’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. Here’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 Citibank’s reward card or Amex Krisflyer card. Hope this helps! Cheers
👍 0

PFF Panel 4

Loans

Savings

Seedly PFF 2019

Should I clear my study loan first or accumulate wealth from my monthly salary? Currently my take home pay is around 2.6k and I have a 18k of study loan (left 14k now) with an 3% interest. ?
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 you’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.
👍 1
Level 3. Wonderkid
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