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I'll spend 10 to 20% upgrading myself to earn more in the future. I'll probably use 5% to pamper myself if there's some place i really wanna go or something I really want. Balance save it for current or future investment. There are too many ways to spend $ but limited ways to invest good for future. Best to delay gratification than regret later.

Family

There will be many things to discuss about, financial planning encompasses almost every part of our life. Every couple discussion will be different as their priorities varies too. That being said, a few common and crucial points to be discuss will be 1. How do you guys want to manage the family finances. How much allocation to each category as a guide? 2. When do you guys want to plan for kids (if any). This will bring in talks about, schools, education, etc But also what financial value will you guys want to impart to them. And if money is not a concern, will you guys prefer if one spouse care for the kid full time? 3. What kind of wedding ceremony will you guys want? Whats the budget, how to reach it? What about honeymoon? 4. Housing, when do you guys wish to have your own place. Location, budget, how do you want to split the payments etc 5. Prenuptial agreements. To do or not to do. You may read more about it here https://blog.seedly.sg/prenup-singapore/amp/ There are really many more areas for discussion depending your own priorities and dreams. But those above are more common, I believe so

Family

Lifestyle

Junus Eu
Junus Eu,
Top Contributor

Top Contributor (May)

Level 8. Wizard
Answered on 18 Mar 2019
Coming in from a female perspective: 1. Have you spoken to him about this at all? If it is something that weighs heavily upon you, definitely have an honest talk with him about it. Honesty and being open is one of the most important things to have in a relationship. 2. Consider why you are concerned. There are a few factors that could be in play as to why you want him to do something about this: - A boyfriend with a proper job (I am assuming stable income, CPF contributing etc) makes him more of a 'manly man'. I know gender roles are shifting and alot more blurred these days, but still, there are some women I know (generally much much older), who seem to be ok with a husband who stays at home to do the housework. - Is it the fact that he is doing nothing that bothers you, or the fact that he is not earning money that bothers you? Case in point: your boyfriend could be an entrepreneur working really really hard to run his business, but does not take home an income at this point. 3. Find out how HE feels about the current arrangement. Additionally, has he ever felt the same way, or is he perfectly comfortable with the current arrangement? At the end of the day, it helps to understand what the two of you value in the relationship. Do the both of you really love the person as they are, or just the concept of them?

Retirement

Investments

CPF

Family

Savings

Bank Account

Elijah Lee
Elijah Lee,
Level 6. Master
Updated 6d ago
Firstly, ensure that she has a basic level of guaranteed income when she retires by ensuring that she has CPF contributions. CPF Life is one of the best annuities around and it gives a lifetime of income. As we do not know how long we live, a lifetime annuity forms the basis of 'survival income' to ensure that she will has money for essentials. You can also contribute to her SA (up to the prevailing FRS) when you start working so as to enjoy tax relief and help her retire better. Once she turns 55, you can contribute to her RA. Do note that this is a one way traffic however, money put into SA/RA will largely not be able to be withdrawn. Next, ensure she has medical and Long Term Care coverage. Medical and nursing bills cab be quite hefty and we want to ensure that such bills do not drain us of money for retirement. Beyond Medishield life and Eldershield, look at getting an integrated shield plan as well as Eldershield enhancement. Once those are taken care of, we can look beyond the basics. Creating lasting income from both guaranteed and variable sources will ensure diversification across various asset classes (retirement plan, equities, fixed income, etc) and a stable, low volatility portfolio. The exact composition of such a portfolio is dependent on your mom's risk appetite and preferences, so discuss with a consultant who can help you to plan and allocate her limited resources accordingly. Retirement saving plans from the banks would be an option but it is important to compare with other insurer plans as the banks only distribute products from a single insurer, so as to ensure that she gets the most for her money.

Family

Lifestyle

I would... With China on the rise, mandarin is getting even more important. Looking for jobs, can also see that some require mandarin speaking to liase with China partners. My madarin sucks because my parents also don't know mandarin (last time can choose malay or mandarin) . Speaking basic is ok but reading and writing really kosong. And it is quite a pity because as I grew up, I also start to appreciate more chinese culture like the traditional chinese music orchestra, those gu qin musics, chinese history and famous stories (translated in english). And it is not easy to pick up mandarin during adult life because the chance to practise it is greatly reduced. Even LKY mentioned in his books, it was very tough for him to pick up mandarin in his later years.

Loans

Family

General

Xinyi Lum
Xinyi Lum, Content Strategist at Seedly
Level 5. Genius
Updated 4d ago
Hey Anon Great question! Must be quite a troubling dillemma and I hope you eventually choose what's best for you. A few things for you to think about: - What stage of your relationship are you in? - Will your turning him down change your relationship? What's the dynamics between the both of you? - Are you already planning for your future? Settling down etc. If yes, this means you can more likely trust him with 16K - How's your personal finance planning as a couple? Are you comfortable having conversations about money?☔️ The part about 'transferring' to his mother or sister got me a bit puzzled, because ultimately you'll still be the one with the money to lose anyway, even if not in name. For formalities' sake and to protect yourself just in case, I'd suggest you make sure all transfers of money be documented properly with labels and make sure things are written down in a traceable manner. Cynical or not, these are the kinds of records you will need in desperate times. 🌚 If I put myself in your shoes, I'd imagine as such - Worst case scenario: You'd be left 16K poorer with a huge imaginary slap in the face and most likely single. Also, if that 16K is/was whatever you had in your bank, then you'd best be prepared to have someone you know you can turn to for money to build yourself back up during the period of absolute broke-ness. (Hello, parents👨 👩 👧) Ideal outcome: Boyfriend fulfils his bond and returns you your money in due time, case closed. All the best! ⚡️

Family

Elijah Lee
Elijah Lee,
Level 6. Master
Updated 2w ago
Dad was (and still is) a taxi driver. If anything, it would be the value of working hard. Even if things knock you down (you won't believe how many people I've heard run off without paying the taxi fare), life will still go on and hence grit and determination are important factors if you want to succeed in life. And he led a simple life by most standards. I think a clear distinction between wants and needs will help remind us (his sons) what's important in life and how to make every cent count. That daily $7 Starbucks is replaced by a 30cent nescafe coffee stick. That weekly $20 uber ride is replaced by just setting off for your destination 30 mins earlier. All that adds up. But nothing would beat a good meal with him. That's just once a year after all.

Family

Lifestyle

Career

Tee-Ming Chew
Tee-Ming Chew, Co-founder at Seedly
Level 6. Master
Updated 3w ago
This is a great question. For me, the trigger point was when I was in secondary school and I didn't have enough money to buy what I wanted. From then on, I decided to track my expenses by using a manual expense tracker app (back then, there wasn't Seedly app) so it was a lot more tedious but important. After knowing how much I was spending, I managed to reduce my expenses and saved up some money. At this point, I still didn't have enough money to do what I wanted to do. This was another trigger point for me and I realise the importance of making money work for me (aka business/investing). A book that also changed my perspective along the way was Rich Dad Poor Dad. Highly recommend a read!

Lifestyle

Family

Loans

Bang Hong
Bang Hong,
Level 4. Prodigy
Answered 3w ago
From your answer yes, I got good experience from getting new car from PI last year. It was a JDM car which authorised distributor do not carry that model. Go for reputable PI even though they are tiny bit more expensive than regular PI.

Insurance

Savings

Family

Hospitalisation Insurance (H&S)

Healthcare

Health Insurance

E
Eugene,
Level 2. Rookie
Answered 3w ago
Well what you can do now is to do a policy review to reassess your current financial status. Having to save on premium might mean that you're spending too much on other stuff? If you're interested I can intro you my agent l. He's done a pretty good job so far. Not too pushy either.
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