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Yeow Ih

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Yeow Ih

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Yeow Ih

  • Answers (8)
  • Questions (2)
  • Reviews (1)

Insurance

AVIVA Personal Accident Insurance

Personal Accident Insurance

How can I sign up for the personal accident coverage under MINDEF Group Personal Accident Insurance plan? I saw that there was a promotion for SAF day. Any advice?
Yeow Ih
Yeow Ih
Level 3. Wonderkid
Answered 1w ago
You can sign up in its website: https://www.aviva.com.sg/en/mindef-and-mha/
ūüĎć 1

Investments

Economics

Stocks Discussion

Unit Trust

Savings

What is a foolproof investment strategy for the next 20 to 30 years?
Yeow Ih
Yeow Ih
Level 3. Wonderkid
Answered on 03 Mar 2020
If you don't intend to touch it, the safest investment is your CPF Special Account top up, if you have not reached the ceiling. Besides getting a risk free 4% interest per year, you can enjoy some tax rebate too. However, it will be locked down until 55 (if there is excess of Full Retirement Sum) or 65 to commence the drawdown.
ūüĎć 0

Career

I'm 32, just got married. and I'm in a company where I am doing really well. My husband wants to have kids soon, but I'm afraid it will affect my chances of promotion in the future. What do I do?
Yeow Ih
Yeow Ih
Level 3. Wonderkid
Answered on 25 Feb 2020
Hi, you and your husband should have a heart-to-heart talk on your priority in life? I know someone focus on career but neglated his/her own health and family. My friend unfortunately passed away during his prime, and some retired alone despite very successful in their career. Personally, I think the priority should be own health, family then career. Without a health body and mind, you can't take care of family and career? Without a stable and loving family, what is the point of having a successful career that you can't share the fruit? At the end of day, I think happiness is more important than material wealth.
ūüĎć 0

Insurance

I have a SAF Group insurance plan but it will expire when I reach retirement. Do I need a Personal Accident Plan during my retirement, besides H&S & ElderShield plans?
Yeow Ih
Yeow Ih
Level 3. Wonderkid
Answered on 25 Feb 2020
PA plan is relatively cheap. As such, I would recommend in getting one during your retirement. My view is not so much of covering death (assuming no more liabilities) but providing some additional financial support after suffering from TPD which could inflat your expenses thereafter.
ūüĎć 1

Retirement

Investments

CPF

If my SA is now max out at 166k, i can no longer do any top up to it right? Btw MA is also maxed out. Appreciate the advice. Thank you?
Yeow Ih
Yeow Ih
Level 3. Wonderkid
Answered on 25 Feb 2020
Do an annual top up to the new ceilings of SA & MA. For SA, it is rising at $7k per year. Not sure about MA. If you have reached 55 year old, you can opt for ERS via cash or from OA.
ūüĎć 0

AMA 1M65

Hi, I have already reached the FRS, and am no longer allowed to transfer my OA to my SA. What else can I do to emulate your CPF investment journey please? Should I top up my MA? Thank you.
Yeow Ih
Yeow Ih
Level 3. Wonderkid
Answered on 25 Feb 2020
Just my 2 cents, there are many ways to maximize your CPF. Following are some; 1. Since you have reach the ceiling of SA & MA for current year, you still be able to top up the differrent to the new ceilings in subsequent years, i.e. SA is $7k per year. Not sure about MA. 2. Top up your loved ones' RA by cash if they have not reached their ceilings. Besides earning higher interest for them, you can claim $7k tax rebate automotically. 3. You can top up the shortfall of max annual CPF contribution of $33740. CPF will allocate it to various accounts but I guess it will be OA for u. Any excess will be credited back. You can do that online. Alternatively, you can make an appointment to CPF board at begining of the year to review the accounts and make the top ups.
ūüĎć 1

Investments

Should i borrow money from the bank to invest if for example interest on my loan is 6% and i can make 10% then i should do it since i can earn enough to pay for interest?
Yeow Ih
Yeow Ih
Level 3. Wonderkid
Answered on 25 Feb 2020
The issue is certainty. For borrowing, it is certained that u need to pay the bank interest regardless of market conditions and your investment return. Unless u can be assured that your return is relatively safe & certain, i.e. government bonds etc, takiing the leverage could ruin your cashflow.
ūüĎć 0

FIRE Movement

Career

Savings

Family

SG Budget Babe

Semi sandwiched generation and it's kinda stifling... need a bit of advice on my situation. What should I do?
Yeow Ih
Yeow Ih
Level 3. Wonderkid
Answered on 18 Feb 2020
Without knowing your dad's business but I would think that is still developing whilst you are doing reasonably well in your current job. As such, it will be a great risk in letting go your stable income to a riskier business together. You are putting all 2 eggs in a single busket for your family.
ūüĎć 0
Level 3. Wonderkid
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