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Fresh Graduates

Young adults out into the working world

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COVID-19

Career

Education

Fresh Graduates

I am a fresh grad, but similar to most of my friends, I am unable to secure a job in this COVID situation. What can I do? Should I take up an internship or are there better ways?
Zi Shuen
Zi Shuen
Level 4. Prodigy
Answered 4d ago
Hi, In my humble opinion, there are 3 things you can do: 1. Get an internship yes, but 'negotiate' with the HR and see if there is opportunity to convert to full timer once your internship ends (of course, make sure that is the job you want) 2. I am very sure there are still companies that are hiring full timer despite the covid-19 situation, but you have your foot in the door first by just taking up a job in any company that is relevant to your interest and passion. Put salary aside, the most important is still to get a job 3. While you are seeking for a job or waiting for this situation to ease, upgrade yourself. Take up online courses, read books, attend webinars, etc. Do whatever you can to upgrade your skillset in the relevant industry. This will prove to your employer that, while 80% of people who stuck at home are just wasting their life away by watching Netflix and playing games, you actually take the time to improve yourself and grow personally and professionally. This will make you stand out from the sea of other desperate candidates for sure. I wish you all the best!
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Standard Chartered JumpStart Account

OCBC 360 Account

Savings

Savings Accounts

COVID-19

Fresh Graduates

Interest Rates

Singlife Account

Seeing that Standard Chartered Jumpstart and OCBC 360 interest rates p.a. have been cut effective from July 1, where should I jump to for my savings?
Boon Peng
Boon Peng
Level 5. Genius
Answered 17h ago
Hello there! You might consider parking your money with Singlife as it will generate a non guarantee interest of 2.5% per year for your first 10 grand. You may take a look at their website: https://singlife.com/manage/ For your remaining 10k, it will be indifferent if you were to place your money with SCB or Singlife. In addition, if you have additional spare cash after you have considered your emergency funds, you might also want to explore investment to further grow your money.
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Investments

COVID-19

ETF

STI ETF

Stocks Discussion

Robo-Advisors

Online Brokerages

Fresh Graduates

I am a fresh graduate who has never invested before, should I start investing now?
Hi Huay Chee, Since you are just starting out, I would suggest you understand your personal finances, of course investment included. I'm assuming you are employed at the same time! Before investing, you need to ensure to have an emergency fund of 6 months and basic insurance essential. This is all for the rainy day or any unforeseen circumstances. Thereafter, you will be able to allocate your resources better with your monthly salary. In my honest opinion, STI ETF is never a good investment to me as its performance has clearly lagged other major index. I would rather go for S&P 500 ETF, QQQ, IWDA and more. There are too many to invest if you ask me, but you should start off by investing in a diversified index/portfolio. It really depends what you are interested in and your objectives cause SG and US investments work differently and also you need to further take a look at platforms that are suitable to your investment style. Hope this helps! Feel free to always consult a licensed financial services consultant or me for more personalised advices. All the best!
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Insurance

Fresh Graduates

Career

Health Insurance

Personal Accident Insurance

Life Insurance

I am a fresh grad starting work soon. Should I buy insurance through agents from GE, AIA or Prudential? How do I know which is the most suitable?
Hi KK, The most important thing as Hariz has already mentioned is that you need to find someone you are comfortable with and you can work with. You will be sharing a lot of confidential information so that the advisor can plan properly for you. You might even share information that you do not want anyone else to know, not even your spouse (which I have seen happen) Insurance products are very competitively priced, and while there were some type of plans that had quite a big gap in pricing between different companies in the past, that gap has now come down considerably. Take it from me, bad advice can kill your finances. I've been on the receiving end of that many years ago (and from an IFA too) before I joined this industry. The competency of the person matters more than than the types of products he can distribute. Don't be afraid to ask questions till you get the answers you need. Any competent advisor must be able to answer your questions and justify his advice.
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AIA

Investments

Fresh Graduates

Insurance

Savings

Online Brokerages

Is AIA Wealth Pro Advantage good for fresh graduates who have savings (>50k) and are new to investing? If not, what is recommended?
Hi anon, I'd recommend you to open an investment account with a broker and invest from there. You'll be free to invest in any asset class without being constrained to the policy T&Cs. There are many platforms available for the retail investor and I urge you to take a look at them. We buy insurance for guarantees and for protection. Investments, by their nature, do not have any form of guarantee, and thus there is really very little reason to invest via an insurer, since you'll have to guarantee your premium payments, whereas your returns are generally not guaranteed.
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Salary

Fresh Graduates

Career

Education

How much do apprenticeship jobs pay for poly graduates?
Lim Qin Da
Lim Qin Da, Community Lead at Seedly
Level 6. Master
Answered 3d ago
Hi Anon, According to an article by The Straits Times, Poly grads who took on apprenticeship programs that allow them to work and study at the same time are earning more than their peers in full-time employment. Poly grads who took on apprenticeships programs earn on average $2,900 six months after completing their studies, while the median salary of polytechnic graduates in full-time employment was $2,350 six months after graduation or completing national service. These numbers are however based on the SkillsFuture Earn and Learn Programme (ELP), which may differ slightly from that of Barclays and JP Morgan. If you would like to read more into the article, you can refer to it here. Hope this helps!
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Fresh Graduates

CIMB

Savings

Investments

General

Savings Accounts

Hi! I'm a fresh grad with $13,000 in savings in my POSB Savings. How much would you recommend me to transfer to CIMB, and what should I do with the rest?
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/
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Fresh Graduates

Investments

Savings Accounts

I would like to start investing and have created a CDP account and all. But am not really sure what to invest in? How do I really start?
Kenneth Lou
Kenneth Lou, Co-founder at Seedly
Level 9. God of Wisdom
Answered on 02 Nov 2018
Not bad! That's half the battle won haha. It's the most difficult part of the process (in my opinion) Investing should never be a rash decision. One should get to know his financial health and his investing mindset such as risk preference better. Below are some articles to read up while understanding your personal investing mindset. - Working Adults: When Should I Begin Investing? - Working Adults: Should I Pick Dividend or Growth Investing? - Should I Invest A Small Sum Regularly Or A Big Sum At One Go? - Age vs Risk Profile: What Investments Should You Be Holding? - 3 Common Investment Methods: DIY vs Active vs Passive Funds - Best Investments In Singapore That Caters To Every Risk Profile, For Short, Medium and Long-Term Investors - Cheat Sheet: What Are The Common Investment Products In Singapore?
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Investment Linked Policies (ILP)

Investments

Fresh Graduates

Ultimate Hacks: Adulting

Ultimate Investing

Personal Finance 101

Personal Finance Books

Investment Courses

I'm interested in investing my money now to have passive income, but I lack the knowledge on investing. How do I even start and what should I do?
Hi anon, Without knowing the full details of your current situation, I can say this: We all make mistakes. Even I have. If you felt what you did was a mistake, then at least take comfort in the fact that you are now aware of it, rather than 10 years down the road. The question you need to ask is: Can I now do something about it that will improve my situation? I don't recommend investing via an insurance policy. Insuring or getting guaranteed policies from an insurer is all well and good, but when it comes to investments, there are loads of other options for you to consider. I'd suggest that you speak to an independent financial advisor to see what your options are, bearing in mind that your situation is unique to you and you alone, so I can't just give a blanket advice here on what to do. Remember: There's no need to feel scared. We all make mistakes.
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SeedlyTV S2E07

Endowment Policies

Fresh Graduates

Savings

Savings Accounts

What is a basic first endowment plan a fresh grad should consider?
Hi anon, Before you consider an endowment, consider asking yourself first: What are you saving for? I can provide a broad guideline: You usually either save for retirement, or save for some future goal such as children's education. Endowment plans can work to help you achieve both goals, provided that it is what you want in the first place. There are many types of endowments so you should select the right type for the right goal. If you feel a little lost about what to save for (it's common, and it's also okay to feel that way), perhaps you might want to speak to an independent financial advisor to help uncover your objectives and desires. You'll then be able to decide after that if you want to start an endowment or not. Once you decide that you'd want to start something, the advisor should also be able to work out your numbers and let you know what a reasonable amount to commit would be.
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