Fresh Graduates

Young adults out into the working world

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Fresh Graduates
  • Asked by Anonymous

    HC Tang
    HC Tang, Financial Enthusiast, Budgeting at The Society
    374 Answers, 896 Upvotes
    Answered on 09 Feb 2019
    Let Seedly help you to start by first reading it here: https://blog.seedly.sg/read-me-first-your-personal-finance-journey-starts-with-this-article/ There's a sea of resources in the Seedly blog and some at the Seedly FB group. Happy Investing! :)
  • Asked by Anonymous

    Kenichi Xi
    Kenichi Xi, nᴉʍ oʇ dǝnᴉʇsǝd 不能说的秘密 at Tag Team with Gabriel Tham
    151 Answers, 344 Upvotes
    Answered on 21 Sep 2018
    Does your company or your job scope needs your Master Degree to get a higher SALARY position? If yes, pls go for it. If the degree does not secure you a higher SALARY, then let ur working Experience and skills do the magic for you. Hope my reply helps. If you feel this reply have Quality, please upvote and check other Quality Reply. https://seedly.sg/profile/a-kenichi-xi Thank you.
  • Asked by Anonymous

    Christopher Tan
    Christopher Tan, Executive Director at MoneyOwl Private limited
    49 Answers, 95 Upvotes
    Answered on 26 Jan 2019
    Hi anonymous, sorry for the later reply. Thanks for your question. Just want to acknowledge you for starting out so early! I am supposing that you will be graduating very soon and going out to work. Assuming that you earn a salary of $4K, I would encourage you to first set aside 3-6 months of your expenses/income as emergency fund. Your $12K in cash can be that fund. Maybe you can set it aside in SSBs for now as it is higher interest than your bank savings. As for the remaining $7.5K, my preference is that you invest in a diviersified portfolio of low cost intruments such as ETFs or Dimensional Funds. I prefer that over holding STI ETF (STI is a very small index with only 30 stocks on SGX) or just REITs (narrowly focused). There are a lot more opportunities out there - such as the S&P500 index.But if you only have a time horizon of 5 years, I will say put more of your money (like 70-80%) into bond allocation and the remaining in equities. The returns will be lower but with only a 5 year time horizon, you might not be able to take the volaitility risk. My son is around your age and this is the same advice I give him. Invest in a diversified portfolio of low cost ETFs or Dimensional and regularly save a part of your income into it. Hope this helps.
  • Asked by Anonymous

    Jason Sin
    Jason Sin
    329 Answers, 419 Upvotes
    Answered on 16 Sep 2018
    There is no conflict between the two. As you are building your retirement fund, you are also building up your emergency fund.
  • Asked by Anonymous

    Kenneth Lou
    Kenneth Lou, Co-founder at Seedly
    346 Answers, 821 Upvotes
    Answered on 10 Sep 2018
    I was a ex Kent Ridge Scholar with NUS! :) So coming from someone who got through the vigorous process (actually it's very doable)... Here's a plea to you... try to get a Scholarship! Most are bond-free nowadays... and you should look at the NUS, SMU or NTU websites (if you are going for local university to apply there!) Often I know many friends who are actually pretty bright and interesting people who did not apply for scholarships because they are too afraid to get rejected. But here's the truth, the assessment varies and has been changing recently. They now look for other things outside of Academics... make your self interesting and hustle to get it. Here's the truth, by spending 1 to 2 months applying for Scholarships... you are saving yourself 3 years of Tuition fees ranging between $30k to $50k (which will take you a further 2 years to clear when you first start working.) So why not try to take a chance... and so what if you get rejected! Don't waste this chance to save a big amount of money... for you or your parents! All the best! Happy to give some more advice if you need, you can pm me or leave a comment below! but primarily you can also read this article here: https://blog.seedly.sg/scholarships-you-should-know-about-before-applying-for-university/
  • Asked by Jay Liu

    Steph Yeo
    Steph Yeo, Auntie Uncle Whisperer at Agency for Integrated Care
    85 Answers, 156 Upvotes
    Answered on 20 Sep 2018
    When i was feeling like shi at my previous job because i didn't like what i was doing, a colleague told me, "don't expect to love your full time job. Do what you love as something part time so you have money from your full time job and still can do what you like after that." I guess my takeaway is that whatever i do beyond my full time job has to be really worth my time. Something that i really like to do, instead of sth that just brings in cash.
  • Asked by Anonymous

    Ng Wei En
    Ng Wei En, Bachelor of Science(Information Systems) at Singapore Management University
    8 Answers, 26 Upvotes
    Answered on 11 Oct 2018
    If you are going to be drawing a monthly salary soon, you may wish to look at Seedly's post on Best Savings Acounts for working adults. Capitalise on the Salary credit for additional interest. CIMB will be good for earning no obligation 1% interest. https://blog.seedly.sg/best-savings-accounts-2018/
  • Asked by Anonymous

    Luke Ho
    Luke Ho, Kick-Ass Financial Services Consultant at Trillion Financial Planners
    174 Answers, 291 Upvotes
    Answered on 21 Dec 2018
    In relation to continuing to pay for your insurance - you should continue to do so anyway because it's cheaper when you start younger. Don't worry about paying for it because its unlikely you'll remain jobless forever, so just make sure you have as many years of premium payments available as you intend to work. If you're looking at growing your wealth, you can consider a diversified portfolio that yields between 7 - 11% net of fees a year, especially since prices are so low now. Since you don't have a lot of experience, you may want to start from funds that pay you steady dividends and have low volatility. Just please don't start with the STI. https://www.moneymaverickofficial.com/posts/sti-etf-not-good-beginners If you'd like some advice on that, you can always nudge me. https://www.facebook.com/luke.ho.54
  • Asked by Anonymous

    Leong Wen Fong
    Leong Wen Fong, Community Lead at Seedly
    127 Answers, 295 Upvotes
    Answered on 17 Dec 2018
    Just like the constant advice I receive here, you ahsould set aside 6months worth of emergency funds first. Make sure you have insured yourself from anything that can stop you from having an income. If you have 0 experience, then the first thing to invest in is yourself. go learn/take up courses for personal finance. If you already have an idea, then you probably would want to start with something with lower risk eg STI ETF, or even SSB. Alternatively, you can consider roboadvisors for low effort and lower fees. After which you can go on to individual stocks and REITS. They key is to diversify, and not to put all your eggs in one basket! Do ask more if you want to learn more, the community is very knowlegable and willing to share! I myself have learnt a lot here!
  • Asked by Anonymous

    Loh Tat Tian
    Loh Tat Tian
    234 Answers, 337 Upvotes
    Answered on 22 Nov 2018
    My opinion... If you have spare cash for investment, i would say to try to grab the lower hanging fruits first. Plan for CPF-SA top up first till you reach a combined amount of $60,000 (inclusive of OA, MA, SA) to take advantage of the extra 1% interest (5% for SA, 3.5% for OA). This will likely form the bond component for your retirement. Once this is in place, consider putting to SRS where you have more flexibility to invest in SGX stocks, withdrawal (with a penalty of 5% before statutory retirement age of 62 currently, or first $400k (since 50% will be tax deductible) no penalty after withdrawal for a period of 10 years. Of course, you will need to learn more about investing. The tax-relief will start to make a difference only once your assessable income is above $80,000 (where the tax rate is at 11.5%). Meaning to say, every $1000 put into SRS/RSTU will reduce your tax payable by $115.00 At 7% (between $40,000 to $80,000), it is debatable because every $1,000 you put in will reduce your tax payable by $70.00.
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