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Zen Bold

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Zen Bold

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

Investments

What should I invest in as a 19 y/o with 15k savings + side income of 1k+ monthly? ?
Zen Bold
Zen Bold
Level 3. Wonderkid
Updated on 17 Jul 2019
I would reconsider the Nikko AM SG STI ETF as the STI is technically an index is is highly skewered towards SG banks. A better option would be roboadvisors. Being young, you can also consider putting some money into more risker instruments such as P2P lending and cryptocurrency stablecoin lending(Look into Blockfi, Dai, Celcius)
ūüĎć 0

Property

Family

Should we sell our HDB and get 1 small condo each or keep the HDB and incur ABSD for condo purchase?
Zen Bold
Zen Bold
Level 3. Wonderkid
Answered on 17 Jul 2019
The cost of maintaining the mortage for two units would lead to a very high debt burden. In addition, as you have mentioned, ABSD would wipe out what little appreciation of the property prices. What I can suggest is to ensure that your kids are well off financially: you can put the amount into SRS, get the tax relief and use the amount for investments. Given the time horizon of 20 years(When you are 56 and 64 respectively), the sum of 150k can double/triple and be a nice gift to your kids. You can also proceed to sell away your HDB and gift the earnings into your child's BTO so as to enjoy a place to stay indefinately.
ūüĎć 0

Property

Savings

CPF

Earning 6k will price me out of singles BTO, then resale too expensive and condo even more expensive. Is there any "hack" to qualify for singles BTO?
Zen Bold
Zen Bold
Level 3. Wonderkid
Answered on 17 Jul 2019
You need to ask yourself what is the value of a home to you. Besides from the path you mentioned, becoming attached and ROMed is another "hack" you can consider. Another way is to apply with your parents so as to lower your income and you can also have a "subsidy" for your BTO application
ūüĎć 0

Career

Insurance

Savings

HDB BTO

Which career path should I go for so as to quickly clear my debts and achieve my financial goals?
Zen Bold
Zen Bold
Level 3. Wonderkid
Answered on 17 Jul 2019
It will be good for you to venture into the finance industry as agents collect up to 50% of the first year premiums.
ūüĎć 0

Investments

MoneyOwl

Robo-Advisors

Endowus

Does anyone else know what other new things there are from Endowus and MoneyOwl?
Zen Bold
Zen Bold
Level 3. Wonderkid
Answered on 17 Jul 2019
It seems that they are aiming to become SRS certified:)
ūüĎć 0

Investments

Why do so many people tell me not to time the market?
Zen Bold
Zen Bold
Level 3. Wonderkid
Updated on 16 Jul 2019
A tale of two statistics "1 out of 4 accidents result from using your phone while driving." Now, when you tell someone that, their normal reply would be to dismiss the statement and say: "It won't be me". This is know as "Overconfidence Effect ", in which you feel that you are better than the average person when in fact, you are no better, or even worse than the average! Now on the other hand, the chances of winning the lottery is 1 in 13 million, but when you tell people that, their response is "I may be the lucky one: you never know". This is known as " Simulation heuristic "- in which people tend to determine the likelihood of an event based on how easy it is to picture the event mentally. Two statements, two very different reponse Obviously, the odds of you causing a car crashing while texting and driving is higher than that of you winning the lottery. But people tend to underestimate the former, and overestimate the latter. That my friend, is cognitive bias at work- why majority of the people buy high and sell low. Caught up in the moment of irrational exuberance, the crowd believes bull market run is here for good- prices will keep go up and up. Buy now or FOMO! The converse is true - the bear market seems to drag on forever as the atmosphere of fear and despair causes even the strongest bagholders to dump their holdings- it will keep dropping lower and lower! You can think of "timing the market" like choosing a job that has no basic pay, and is entirely commission based: this would causes you a lot of worry, and may not pay you as well due to your performance, and you will toss and turn in bed thinking about job stress. Of course, if you are great at it(Hint: most likely you are not), your upside will be unlimited, but the converse is also true(and most likely is the case): your downside is also unlimited too! On the other hand, "Time in the market" would then be a job that has a high basic pay, which makes it relatively "worry-free"- all you need to do is to show up! So, Time in the market(DCA-Dollar Cost Averaging) VS timing the market(Buy The Fking Dip: which one do you want? Worry, stress and headache "timing the market", or a fuss-free hands off approach in which you take the "time in the market" approach:)
ūüĎć 0
Level 3. Wonderkid
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