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Zen Rogue Xuan

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Zen Rogue Xuan

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Zen Rogue Xuan

30Upvotes
  • Answers (35)
  • Questions (4)
  • Reviews (2)

SeedlyTV EP08

Electricity Market

Zen Rogue Xuan
Zen Rogue Xuan
Level 4. Prodigy
Answered 5d ago
I welcome the many retailers as this would mean better prices for consumers:)

SeedlyTV EP08

Electricity Market

General

Zen Rogue Xuan
Zen Rogue Xuan
Level 4. Prodigy
Updated 5d ago
SP is mandated to provide electricity at the given tarriff, which is updated every quarterly: https://www.ema.gov.sg/ResidentialElectricityTariffs.aspx However, OEM retailers are not. As such, they are able to give a discounted rate, in the form of discount off tarriff whcih ranges to about 20-25%, or a fixed rate which is currently about a 28-30% discount. Interestingly, you pay less for a fixed rate, which is often not the case in real life- for mortage loans, the fixed rates are higher that that of a floating rate as you pay a premium for security. The gap between fixed rates and DOT rates are clsoing, and I predict that OEMs retailers will gradually raise their rates as the market matures. Finally, if you are not out to play the referral game nor interested in rebates, you can consider taking SP's wholesale plan by logging into SP services - click this tab 'Buy at Wholesale Electricity Prices'. AIM meter installation($42.80) is not compulsory as SP will charge you according to EMA's typical household load profile at the half-hourly wholesale rate. Calculations have shown the rates to be pretty competitive

Lifestyle

General

Zen Rogue Xuan
Zen Rogue Xuan
Level 4. Prodigy
Updated 2w ago
Currently I believe starhub's package at $29.90/month is the best deal one can get.

Property

Zen Rogue Xuan
Zen Rogue Xuan
Level 4. Prodigy
Updated 2w ago
Developers don't really have a choice. Much emphasis is placed on the cooling measures consumers face, but developers will have to pay extension fees based on Qualifying Certificate (QC) rules for unsold units. As such they have no choice but to hope to sell them off.

Travel

General

Zen Rogue Xuan
Zen Rogue Xuan
Level 4. Prodigy
Answered 2w ago
Hi OP, You can consider a DIY trip instead of going thru an agency, which is possible thanks to the wealth of information available online- Check out wikitravels On the other hands, you can seek flights that are selling at a discount by following https://www.cheapcheaplah.com/cat/travel or buy tickets off carousell in which people will sell at a discount because they are unable to go.

Credit Card

Insurance

Zen Rogue Xuan
Zen Rogue Xuan
Level 4. Prodigy
Updated 2w ago
Not that I know of. Generally, Banks do not offer rebates for payment to insurance companies as well as government insitutions. Last time it was possible to earn rebates/rewards via Cardup/ipaymy but the banks have closed such a loophole by excluding their MCCs.

Investments

Stocks Discussion

Zen Rogue Xuan
Zen Rogue Xuan
Level 4. Prodigy
Updated 2w ago
Hi OP, Congrats on taking charge of your financial journey. I would suggest that you read up Shiny Things e-book to better understand how your journey will be. A brief summary can be found here: https://forums.hardwarezone.com.sg/money-mind-210/things-i-learnt-shiny-things-money-mind-5248645.html As per his recommendations, for Singapore side, you can consider buying ES3 & A35 For overseas, Vanguard & iShares etfs are the way to go as the fees are very low. Some ETF would be VWRD/VWRL,VUSD There are a few ways you can go about buying ETFs/Stocks, with the key objective is to lower fees. If you like to DIY, you can go about via Saxo/Interactive Brokers/Fund Supermart: https://blog.seedly.sg/the-ultimate-cheatsheet-cheapest-stock-brokerage-in-singapore/ Alternatively, you can consider a Regular Saving Plan: https://blog.seedly.sg/which-regular-savings-plan-is-the-cheapest/ Lastly, you can do the Robo-Advisor Route: https://dollarsandsense.sg/robo-advisors-in-singapore-what-you-need-to-know-before-investing/ Do note that you can utilise SRS for stashaway:)

CPF

Retirement

Resale HDB

Zen Rogue Xuan
Zen Rogue Xuan
Level 4. Prodigy
Updated 3w ago
It will depend on the amount you have in your CPF accounts and the year you turn 55. As you know, whatever sum of money that was deducted from your CPF OA to pay for your house, including HDB Grants, will be repaid back into your OA with interest accrued. Since you are on the old scheme called Retirement Sum Scheme, the Full Retirement Sum(FRS) is based on the year you turned 55 If your RA balance is below said FRS amount, the money will enter into RA automatically and monthly payouts would increase accordingly. On the other hand, if your RA balance is above that of FRS, the money in the CPF should remain in OA and can be withdrawn anytime:)

CPF

Zen Rogue Xuan
Zen Rogue Xuan
Level 4. Prodigy
Answered 3w ago
What you must understand is that CPF Life is a public annunity that is compulsory in nature whose payout is based on premiums that you contribute into the Lifelong Income Fund, and the plan you choose: Basic/Standard/Escalating. For the basic plan, 10% of your RA is deducted at age 55. The rest – about 90 per cent – of the Retirement Account savings is untouched and can continue to grow and compound with interest. Near 65, two months before your birthday, there will be a second deduction. This time, it will be approximately 10 per cent of the new money that has built up between your 55th and 65th birthday. The rest of your Retirement Account savings will stay put until your payout eligibility age. In comparison, for the standard and escalating plan, for those who join this plan at age 55, there will be two installments deducted as annuity premiums just at 55 and near 65, just like the basic Plan – but the percentage of deductions differs. Members who join this plan at age 55 will have the Retirement Account deducted for their CPF Life annuity premiums in two installments – at age 55 and near 65. The first deduction is up to the current Basic Retirement Sum of $80,500. The premium goes into the Lifelong Income Fund. Two months before you reach 65, the balance Retirement Account savings will be deducted as the second installment of your annuity premium and channeled into the Lifelong Income Fund. This will include any new money, including interest earned or refunds from sale of property or investments that you have built up between your 55th birthday and 65. For members who join the Standard or Escalating Plan on their payout eligibility age or after, there will be only one annuity premium deduction, which is all the sum in their Retirement Account, made at the time of joining. CPF Life is structured such that 3 out of 4 people will only “obtained" what that has been put into the amount.

CPF

General

Zen Rogue Xuan
Zen Rogue Xuan
Level 4. Prodigy
Updated 3w ago
If you top MA up to the Basic Healthcare Sum(BHS), all excess amounts would flow over to SA till FRS, then to OA. As such, some people advocated the topping up of Medisave to BHS on 1st Janurary every year so that the subsequent medisave contributions would flow to SA
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