Yixiong Chang

Top Contributor (Nov)

186 upvotes received
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I am not an insurance agent, or financial advisor. I offer true free of conflict-of-interest advice in personal fiance.
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Top Contributor
(Nov)
  • Answers (146)

  • Questions (0)

  • Reviews (0)

  • Topics (21)

  • Asked by Anonymous

    Yixiong Chang

    Top Contributor (Nov)

    146 Answers, 186 Upvotes
    Answered just now
    If u are refering to physical gold, buy ONLY investment grade bullion. They are easily recognised and can be easily traded. Go for gold coins like american eagle or canadian maple leaves. Personally I prefer the canadian maple leaves as they are beautiful and the purest at 99999 fineness. Just google silver bullion u can find several dealers in singapore. One example is www.silverbullion.com.sg , their retail office is inside CertisCisco at paya lebar. Whatever u buy , Just be mindful of the current spot price of gold/silver. And the premium u pay above spot price for the bullion. You might want to consider silver too.
  • Asked by Anonymous

    Yixiong Chang

    Top Contributor (Nov)

    146 Answers, 186 Upvotes
    Answered 4h ago
    measure it while she is sleeping? use a string. Just to get an approximate. Or if she has any of her own rings? U can take measurements/photos(on a measuring tape) of that. With an approximate the jewelsmith will usually size it just slightly bigger. So try to find the best approximate u can. As Yang Teng mentioned, u can get it resized afterwards.
  • Asked by Lucas Ong

    Yixiong Chang

    Top Contributor (Nov)

    146 Answers, 186 Upvotes
    Answered 18h ago
    There are only certain policies that allows increased of coverage at certain life stages with no underwriting required. But in terms of cost, they are essentially similar. It will still be based on your current age. Honestly, I do not see any material difference that should be of your concern. What is more important will be to find a plan more suited to what u require. You might want to seek a competitively priced Term insurance for your needs. The mindef group term is one, and other is direct insurance products.
  • Asked by Anonymous

    Yixiong Chang

    Top Contributor (Nov)

    146 Answers, 186 Upvotes
    Answered 19h ago
    I feel it might be more important to plan how are u going to continue with your investment. Have a plan for long term. Based on what u have mentioned, it doesnt seems like a plan to invest, but just taking a speculative position. Maybe u can plan a RSP into each of the vehicles rather than a one off, and continue to invest with your future earnings. Did your research include which tool to use, which ETF? Which broker will u be using? What will be the transaction cost, is it suited for long term investment etc. What will u do if a major correction occurs, if STI or SP500 dropes 20%, will u continue to RSP? Are u able to deal with several years in bear market action? These are among the questions u should ask yourself first. To be honest, u could just keep your $10k in a high yielding bank account or SSB for the moment. What is important is your future investment actions.
  • Asked by Anonymous

    Yixiong Chang

    Top Contributor (Nov)

    146 Answers, 186 Upvotes
    Answered 1d ago
    No harm looking for new opportunities. Update your linkedin, send out some resume, etc. You can always decide again when an offer comes. You'll never know that u will get.
  • Asked by Anonymous

    Yixiong Chang

    Top Contributor (Nov)

    146 Answers, 186 Upvotes
    Answered 5d ago
    Sure, it will make sense to let your money work harder for u elsewhere. Why don't u top up your special account instead? For the first $60k in your CPF combined balance (with only up to $20k max from OA), the monies will earn an extra 1%. You didn't mention your age, so not sure how close u are to the limit yet. In additional u will receive tax relief for the topped up amount (same as SRS). Eg, your taxable income is $40k, for every dollar u earn above 40k is taxed at 7%. Therefore, if u topped up $1000 into your special account, u get $1000 tax relief, u saved 7% of $1000 = $70 tax money. Effectively have gotten 7% return on your money, in additional u will earn 4%-5% interest yearly guaranteed. Risk-free, regardless of market conditions. If your income is in the higher bracket, u will effectively earned more. Tax relief earned this way has a cap of $7k a year. So after u have topup $7k, u can take a look at other ways (such as SRS). SRS u will have to take risk on your money, 5% return average might not be certain even for the long run. Since u are not using CPF to pay your mortgage, u might want to consider transfer your OA to SA to earn a higher interest rate. Otherwise your OA earns 2.5%, but your loan is 2.6% (I assume is HDB loan?), so u are losing 0.1%. It will be more worth to use your OA to pay off your mortgage. Unless u are taking bank loan with is still below 2.5%.
  • Asked by Anonymous

    Yixiong Chang

    Top Contributor (Nov)

    146 Answers, 186 Upvotes
    Answered 6d ago
    That would be more of a speculation than 'investment'. You don't earn interest on your physical money too. There are other vehicles to use if u wish to have a view about currency direction
  • Asked by Anonymous

    Yixiong Chang

    Top Contributor (Nov)

    146 Answers, 186 Upvotes
    Answered 6d ago
    Payout is at the end of 2nd business day, the following Month. So if u apply to redeem now (Nov), the payout will be on the 2nd Jan 2019 which is Wednesday. It might take another day before u see the actual crediting $ in your bank account. Incase u want to ask, there is no difference to apply early or late (within the month), the interest accrued (up to before the day of payout) will be paid to u. Application to redeem closes the 4th last business day of the month. So just apply anytime before that.
  • Asked by Anonymous

    Yixiong Chang

    Top Contributor (Nov)

    146 Answers, 186 Upvotes
    Answered 1w ago
    You can claim for for pain and suffering. This will include not just physical pain, but also emotional stress stress/mental suffering. You can claim for future medical expenses as well (followup treatments/checkup). And lost of of earnings if any (depending on your nature of your work and severity of injury) You should probably seek legal advice from an experience lawyer in areas of personal injury claims. If u feel u have a strong case, u should seek a lawyer to represent u. Let me know if u require any further help.
  • Asked by Anonymous

    Yixiong Chang

    Top Contributor (Nov)

    146 Answers, 186 Upvotes
    Answered 1w ago
    I would need to know more details (your age, diagnosis, current medical condition etc). I might be able to help u join a group H&S. Please pm me on my facebook.
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