Make smarter financial decisions together

Ask for opinions and get answers from other Singaporeans.

ASK A QUESTION
Most Recent
  • Asked by Anonymous

    Jonathan Chia Guangrong
    Jonathan Chia Guangrong, Fund Manager at JCG Fund

    Top Contributor (Feb)

    382 Answers, 541 Upvotes
    Answered 35m ago
    Personal insurance - I'd say you need a shield plan or a similar medical plan in place. This is to protect against outlandish hospital bills if you need to get admitted. If you have dependents, look into term insurance with critical illness and tpd coverage as well. Home content insurance, if you can. Helps cover costs of content replacement in your home should something like a fire break out.
  • Asked by Jonathan Lim

    Jonathan Chia Guangrong
    Jonathan Chia Guangrong, Fund Manager at JCG Fund

    Top Contributor (Feb)

    382 Answers, 541 Upvotes
    Answered 41m ago
    Learn about yourself first, how you handle money and investments. That will help determine your risk profile as well. Whether you can take a big drop in the market and still sleep at night. If you can't, you may want to read into something called an all weather portfolio. Comprising mainly of a global Etf, a local stock Etf and a bond fund or Etf. It'll help weather bear markets, as its name suggests. But in good times growth may be capped. Personally I can stomach some risk so I prefer to operate an options portfolio instead. Flexible in nature, and can still make good returns in any market condition. And I don't mean uninspiring single digit returns. Mid double digits and above is where I want my portfolio to grow on an annual basis, compounded.
  • Asked by Adriel Chia

    Junus Eu
    Junus Eu
    34 Answers, 97 Upvotes
    Answered 49m ago
    Robo-advisors such as Smartly, Stashaway and Auto wealth. These are platforms that automatically help you invest your money, based on your indicated risk tolerance and selected methodology, through algorithms set in place by the robo-advisors. Do be cognizant of the fees though!
  • Asked by Anonymous

    Junus Eu
    Junus Eu
    34 Answers, 97 Upvotes
    Answered 57m ago
    It really depends on your financial situation, and your goals! When I was in University, I was determined not to take on a student loan, and had to pay for my own university fees myself. So I took it upon myself as a challenge of sorts to take side jobs to earn income to pay off my school fees, as well as cover my own personal expenses. Needless to say, I saved as much as I can in that situation. It also thought me the lesson of thrift, because candidly when you are working hard to earn your own keep, you are not as likely to spend it as frivolously as compared to if the money was given to you. That said, you can say that I pretty much did not have 'a life', because I pretty much was working at night and also an internship with flexible hours while studying full time. For the most part I dont regret it though, because the hardships then instilled in me values that make up who I am today, and I had goals then that I wanted to achieve! So in essence, define your goals, then you would know how to save/spend accordingly.
  • Asked by Anonymous

    Junus Eu
    Junus Eu
    34 Answers, 97 Upvotes
    Answered 1h ago
    Invest part of your savings as you continue you to grow your savings. Start small with baby steps. Equity investments might be a way to start as you don't need a large amount of upfront capital. I did my first equity investment when I was in University as well. It was a daunting experience given it being the first time, and I kept eyeballing the stock, but at the end of the day - you need to live through those emotions and build your confidence over time! I made my first property investment at 26 - but i actually spent around 1.5 years scouting properties over the weekends. Property investments understandably require a higher amount of capital, so it makes sense to weigh accordingly.
  • Asked by Anonymous

    Yong Kah Hwee
    Yong Kah Hwee

    Top Contributor (Feb)

    526 Answers, 707 Upvotes
    Answered 3d ago
    Highest payout per month would be this app called Milieu. I use it daily. I also use opinion world, rakuten, and google opinion. Rakuten is pretty fast too. Google opinion only gives you google credits, not cash. So if you want to use those credits to buy apps/in-app stuff, then go ahead :)
  • Asked by Anonymous

    Blitzor
    Blitzor
    3 Answers, 4 Upvotes
    Answered 5h ago
    Start by researching online what are the various products out there for investment and depending on your own risk behaviour (whether you are risk adverse or high risk taker), select the product which are more suitable for you. For a start, I suggest you can take a look at banks website and understand through their invest options. Some even have a system which can suggest and plan your investment to meet your goals. For e.g: you can start to use OCBC life goals.
  • Asked by Anonymous

    Yong Kah Hwee
    Yong Kah Hwee

    Top Contributor (Feb)

    526 Answers, 707 Upvotes
    Answered 3h ago
    As with all investments, please do your own diligence before investing your money in anything! P2P lending yields high returns, but the risks are high. You may want to learn how to analyse companies first before investing in anything.
  • Asked by Anonymous

    Shabir
    7 Answers, 12 Upvotes
    Answered 4h ago
    You could try DBS Regular Savings Plan, investing in ABF Bond Index ETF, which comprises of Bonds issued by the Government of Singapore. Which makes it practically risk-free, DBS RSP also charges a low fee of 0.5%, reducing fees and they are highly liquid, Yield is currently at 2.33%, paid annually, making for decent returns. Only thing to watch out for would be price fluctuation, although it is very small with the Bond ETF. PS: I think at the moment they have a promotion where the service fee of 0.5% will be refunded if applied for by end of march.
  • Asked by Anonymous

    HC Tang
    HC Tang, Financial Enthusiast, Budgeting at The Society
    374 Answers, 896 Upvotes
    Answered 4h ago
    In short, roboadvisor is basically the renew unit trust using different algorithms to managed the funds thus provides lower fees than unit trust or a human fund manager. However, they all remains the same requires investor to invest long term at least 8 years and above to see good positive results, a short months / years may or may not works well depends on the market situations. Thus out of the 3, or even more, suggestion maybe you could see what make sense of their investment algorith / regime use. Most importantly is the fees that they charge as it's a recurring regular cost that if is relatively high, would eat into your returns. I invested in Stashaway and basically I attend their events, readup review on their algorith / investment theory, check out the fees that fits my budget and read up existing investor review. Check out Seedly comparison: https://blog.seedly.sg/singapore-robo-advisor-investment-comparison/ (Do check their individual website for the fees in case of any updates!) Check out seedly members review for those who were already investors of the robo advisor: https://seedly.sg/reviews/robo-advisors Hope all the above helps you to reach a good conclusions. Cheers!
See more questions

Download Seedly’s free

Expense Tracking App
Download on the App StoreGet it on Google Play
  • Sync all your banks in one place
    Sync all your banks in one place
  • Quickly add transactions and view reports
    Quickly add transactions and view reports
  • Community Q&A and blog integration
    Community Q&A and blog integration