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Savings

Savings Accounts

DBS Multiplier Account

I currently have $20k in my DBS mulltiplier earning 1.6%, intending to use this money in near future e.g. 3 to 4 years time. Where else will be good and secure to park this money for higher interest?
MX
Mei Xin Chan
Level 2. Rookie
Answered 1h ago
Just to add on, Manulife also running 2% for 25k.
ūüĎć 0

Stocks Discussion

Investments

SG Budget Babe

Family

You have a full time job and a family. How do you squeeze out time for yourself to learn investing?
Bjorn Ng
Bjorn Ng
Level 9. God of Wisdom
Answered on 08 Dec 2019
Everyone has different priorities in different stage in life, and that's totally understandable. For me, as simple as it might sound, we always have a choice in what we want to do. It's all about "allocating" the priorities. To answer your question, I choose to read updates from my investing community rather than general market news (for eg). It's about choosing which "makes more sense" to you. It's never easy, and sacrifices have to be made sometimes, but at the end of the day, we all made the best choice we see fit at any point in time :)
ūüĎć 17

Stocks Discussion

Investments

What are some of your favourite quotes on investing mindset that you have come across?
"Buy at prices you would not sell at. Sell at prices you would not buy at"
ūüĎć 7

Investments

Savings

Savings Accounts

My hubby and I will get a home in a year. Our renovation budget is $50,000. We are saving $4,000/month. Instead of keeping the money in a savings account, how should we invest it even for just a year?
Andy Sim
Andy Sim, HR Professional at a Financial Institution
Level 7. Grand Master
Answered on 26 Feb 2020
Investing horizon too short, should not go for high risk equity products. Can try short term fixed D or just leave it in a HISA
ūüĎć 1

Investments

Family

SG Budget Babe

Savings

Savings Accounts

How do you convince your parents that money in the savings account is just rotting away and should be taken out to invest?
Rais M
Rais M
Level 7. Grand Master
Answered on 26 Feb 2020
My parents are not that young anymore and I do not want them to take or feel that they are at risk when it comes to investment. After much consideration, I decided not to convince them to invest their money, but rather, I will invest more of my money to support them somehow. I am their retirement plan.
ūüĎć 14

Investments

Robo-Advisors

Could one use robos as a way to do dividend investing so as to drawdown each year for spending? Say if I invest a lump sum of $500k on robo and would then draw out $25k (5%) yearly for daily expenses. Any advice?
YJ
Yun Jie
Level 2. Rookie
Answered 2h ago
Sounds like another FIRE movement proponent, congratulations! If Smartly was anything to go by (google them), i wouldn't put all your money in one pot as it could crash at any one time, and that could be when market is at the bottom forcing u to sell all positions. I'm trying out the various Robos, but i think Stashaway / Syfe might be a good place if it's dividends you're looking at. You put in your personal goals and they will suggest the risk level. On Stashaway, there are the international exposure portfolios you can pick from, mixing international equities, bonds, as well as some gold to hedge. So far, i'm at 8-9% but if i had stayed invested in March, April, it would be at 15-18% lol. Alternatively, there's also the Singapore local savings mixing local reit, STI ETF, and "safe" corporate bonds- projected 3.75% returns but i'm at 4+% already. On Syfe, there's the all Reit portfolio, where you can either go all reits (for full dividends) or combine with 50% bonds, for a less aggressive way. As a bonus, and if you thought that was helpful, I have referral codes. If you use my sign up code and we'll both get up to $10,000 SGD managed for free for 6 months https://www.stashaway.sg/referrals/richardmxmm
ūüĎć 0

Investments

Robo-Advisors

Savings

StashAway

Savings Accounts

COVID-19

Stashaway Simple or a traditional savings account?
Hello, after having Singlife account, you can probably look at Etiqa ELASTIQ, they give guaranteed 1.8%pa interest rate on your first 3 years. Hope this helps!
ūüĎć 0

AXA Shield Health Insurance

Insurance

Undergraduate

Does AXA Shield A, cover hospitalisation oif I am studying overseas?
Hi there. Yes, AXA Shield's coverage is worldwide. However, if one were to get hospitalised overseas, the claims process will be on a reimbursement basis, meaning you have to make full payment first and then process the claims online or physically when you are back in Singapore. This is in contrast to auto settlement when you are in Singapore, where most hospitals will liaise directly with AXA to process the claims directly and you don't need to fork out a single cent. You can reach me here to find out more. I cover 9 major insurers including AXA, Aviva, NTUC etc.
ūüĎć 1

Insurance

Hi, I am 22 y/o this year. I don't have any CI insurance so I would like to get one before the definition starts changing, any recommendations on which plan with a budget of $100 - $150 per month?
Hi there. With a limited budget like yours I don't suggest you get term/life. Critical illness will be a bigger need to address for your age than death coverage. $100-150/mth is just enough for basic critical illness coverage. I recommend you add on term/life plans later on in life after you start a full time job. You can refer to these independent comparisons for the best critical illness plans in the market. My pick of the bunch will be Manulife, Tokio Marine & Aviva. https://treeofwealth.sg/early-stage-critical-illness/ https://www.interestguru.sg/best-early-critical-illness-plans-singapore/ Do reach out to me here if you like to find out more. I cover 9 major insurers including Aviva, NTUC, Manulife, Tokio Marine etc.
ūüĎć 0

Insurance

Hospitalisation Insurance (H&S)

Hey guys, understand that a hospitalisation insurance is one of the essentials. Any good and cheap ones to recommend? Am currently a student so hope its affordable, can use cpf to pay.?
Hi there. Am glad you are looking into insurance early. There are many cheap options for you in the market as your age is relatively young. What you have to take note of are the plans which get increasingly expensive as you age. All hospitalisation insurance can use CPF to pay. My pick of the bunch for value for money will be AXA and NTUC Income. You can reach me here to find out more. I cover 9 major insurers including Aviva, NTUC, AXA, Manulife etc.
ūüĎć 0
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