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Depends on your area of concern. If you are referring to investment, I have compiled a list of financial crisis and reasons not to invest since early 90s. But year after year, the market outperforms the critics. Therefore, it has no impact on my investment, unless I am a speculator and not an investor. If you are referring to career, unemployment is everywhere. Likewise for recruitment. The only way to stay in a job is to stay relevant. So long as I have skills, knowledge, and experience, I won't be jobless. In summary, regardless of market movement, life goes on. Just do proper planning for myself and stay focus on my long-term goals. At the sae time, remind myself not to be distracted by short-term obstacles.

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Assuming that you choose to top up to SRS, do ensure that you do not stop there. In fact, make your money work harder for you by parking it into various tools, e.g. annuity. If you top up to your Special Account, the same amount will be deducted from your taxable income of 108k, up to $7k. Additionally, you may choose to top-up to your parents or grandparents’ Special Account or Retirement account for the same purpose. Next, you can top-up your CPF MediSave account up to the Basic Healthcare sum. Either option, do note that this is irreversible. On top of that, you may consider signing up for courses and claim for course fee relief. If you are a self-employed, or have expenses that are incurred in order to earn your income, you can declare these business expenses too. If you have some spare cash left and do not mind doing a bit of charity, charitable giving is definitely one of the fastest option to reduce your taxable income.

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I think the answer will highly vary depending on what the specific FinTech company does - that being said some of the roles that Kristal.AI is actively looking to hire in is the Data Analysis (ability to understand and glean insights from data points for both creation of trading strategies and customer behaviour) and Business Development (numeber of different functions including advisory, sales, business development and marketing) space. In regards with with the why - the latter is to grow top line, while the former is to improve the inner workings of the company. As a relatively new company (like most FinTech businesses are) we are in the growth phase looking to bulk up resources across the business.

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Hi anon, Historically, markets such as US (via the S&P 500) would give around 10% p.a. over the past 20-30 years. Over in Asia Pacific, some funds have also managed more than 10% over 10+ years. However, this comes with a number of caveats. Firstly, this is based on hindsight. Will US markets continue their run in the coming years? Or will that level of growth shift to Asia Pacific? Secondly, this assumes that the investor stays invested. In reality, this is very difficult to achieve as most investors are still human and will react adversely to negative conditions.

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More funny anecdote than takeaway. I took a pic of some CEO with the Bloomberg folks at 10:09 on Tuesday. Turned out he was live interview at 10:16... If only I had waited I bit more I could have stuck my head into the frame. More serious takeaway - met a gentleman who was ex investment banker of 20 years who took the plunge to become a CEO of new crypto exchange venture. Had a very insightful exchange where he talked about different mindset of people from traditional finance background who are more methodical when approaching a problem/project in contrast to the tech background guys who are much more creative. He did note that there is room for ventures of different mixes - where some firms may be more old-school (in terms of strength in ops/compliances) wheres others may be more of the new-school (focus on blitzscaling / pivoting) and not one is strictly better than other.

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Hi anon, I salute your mom for the sacrifices she made, that is sheer tenacity there to do what she did. You and your siblings must be very proud of her. To start off, if your mom is healthy, then try to upgrade her hospitalization plan to at least an A ward (I am not quite sure what you mean by 'basic', although if it at least 'A' ward it will be ok). Ensure that she has a rider to cover deductible and co-insurance. Top up her medisave account so that she has monies for medical related emergencies. Ensure that she has Eldershield and enhance it to protect against severe disability in old age. Contribute to her special account to help her at least reach BRS first so that she can have a guaranteed stream of life long income in her old age. If funds are available to push her CPF to FRS, that is even better. These are the very basics of what needs to be done. Your younger siblings are still studying, and in theory they are still dependents of you and your mom, so you definitely want to ensure that you have your own coverage sorted out so that mom doesn't have to worry, and if possible, a small term plan for your mom can be considered, provided premiums are reasonable (CI plans will be very expensive for her age). Given the slew of expenses when one starts work, your budget probably allows for what I mentioned above. Lastly, please plan to spend more time with her in her old age when she eventually stops driving. I'm getting teary eyed writing this but we usually only really appreciate what we have when it's no longer available.

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Junus Eu
Junus Eu
Top Contributor

Top Contributor (Oct)

Level 8. Wizard
Answered 3d ago
For savings accounts that don't require salary creditting, CITI and CIMB. Personally I have liked Citibank Maxigain for up to $150k, and post which I tend channel it to CIMB for the rest. THAT SAID they have revised their fine print such that there will be a massive drop in interest rate from 2 Dec 2019 onwards, potentially from the current 2.5% to 1.5%. I will be looking out for other places to park my cash! What I do is to max out Citibank Maxigain, then put the rest in CIMB.

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Hi Anon, Here's what you can do. You can go for REITs, other ETFs and bonds, but before you do that, I'd suggest you read up as much to understand what a Robo-advisor really does. Robo-advisory platforms assess your current financial position and recommend a portfolio strategy after reviewing your risk profile. These bionic advisors are still not very different from your ordinary financial advisors as both options will still have a management fee incurred for users. The difference lies with the amount, as Robo-advisors have lower management fees. And the best part is that they give you the most unbiased advice. You can read here for a better understanding. I work at Kristal.AI, and my mojo is to help people make the right financial decisions. If you think I helped you, do give me "Thumbs up". If you think my response was biased let me know, I will work on it. I hope this helps you make the right decision.

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Hi Jasper, Incidentally, I just answered a question that's somewhat similar. I'll link you to my answer. https://seedly.sg/questions/i-am-a-25-yo-and-have-90k-in-a-dbs-multiplier-account-i-have-no-financial-investment-knowledge-and-was-wondering-what-would-be-good-for-me-to-invest-my-savings-in

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Gabriel Tham
Gabriel Tham
Level 9. God of Wisdom
Answered 2w ago
Here is the table for corporate tax rates https://www.iras.gov.sg/irashome/Quick-Links/Tax-Rates/Corporate-Tax-Rates/ You should compare this with your personal income and see which is higher. In any case, if you form a company, you probably need to declare a salary for yourself which is also taxable. And you also need to account for your company's books and accounting. Cannot anyhow use company funds for personal uses.
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