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Money FM 89.3 Show

We're running an exclusive radio series on the Money FM 89.3 show talking about personal finance hacks for young adults in Singapore.

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An Weekly Radio Segment with MONEY FM 89.3

It will run from September to End November, every Wednesday at 10am.

We're involving guests on the show who are our top contributors and partners, who has appeared alongside us on the radio show! It will be conducted by Radio show-host and DJ, Michelle Martin, an 18-year veteran of the media industry.

Here's the schedule:

You can click on the relevant links to listen to the podcasts as well.

  • 4 Sept 2019: What you need to know about choosing your energy provider to save monthly (feat. Yeap Ming Feng, Head of Conetnt & Growth at Seedly)
  • 11 Sept 2019: Hacks to maximise your CPF (feat. Hariz Arthur Maloy, Top Contributor at Seedly and FA)
  • 18 Sept 2019: Personal finance 101 for Millennial young working adults (feat. Chew Tee Ming, Co-Founder, Product at Seedly)
  • 25 Sept 2019: How to know when you should start investing and how to start with your first $5,000? (feat. Junus Eu, Top Contributor at Seedly)
  • 2 Oct 2019: Planning your retirement blueprint (feat. Adam Wong, Co-founder, Editor at The Fifth Person)
  • 9 Oct 2019: What are the costs of doing IVF in Singapore? (feat. Rebecca Liew, Senior Content Strategist, Seedly)
  • 15 Oct 2019: Are We the Last Sandwich Generation (feat. Yeap Ming Feng and Alvin Chow, CEO, Founder at DrWealth)
  • 23 Oct 2019: Hot themes and how to bank on them (feat. Sudhan P, Investment Lead, Content Strategist at Seedly and Elijah Lee, Top Contributor)
  • 30 Oct 2019: The Epic Guide to Short-Term Investment Strategies (feat. Samuel Rhee, Chief Investment Officer, EndowUs and Terence Tan, Head of education and business development at IG markets)
  • 6 Nov 2019: FinTech In Singapore, where is it headed? (feat. Funding Societies, YouTrip and Syfe)
  • 13 Nov 2019: Your major life milestones is getting your first home, what are the costs involved? (feat. Kenneth Fong, Seedly Editor and Darius Cheung, Co-Founder CEO of 99.co)
  • 20 Nov 2019: Personal Finance for the People with Disability (PwD) in Singapore (feat. Rachel, Content Strategist, Seedly)

We'll be covering topics surrounding Savings, CPF, basics into budgeting, cashflow, and of course planning towards retirement, investments and basic portfolio construction tips!

Ask your questions in the QnA section below to have them answered LIVE!

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Investments

Money FM 89.3 Show

Dhruv Arora
Dhruv Arora, Founder & Chief Executive Officer at Syfe
Level 6. Master
Updated on 04 Sep 2019
Before you start investing, I’d suggest setting aside an emergency fund containing 3 – 6 months’ of expenses, having adequate insurance, and no high-interest loans. A home mortgage is ok, but try to avoid high-interest debt like credit card debts. In investing, time really is money. The longer you invest, the more money you will have, thanks to the power of compounding. Compounding i.e. time in the market is one of the keys to investment success, rather than waiting for the perfect moment to invest. It's nearly impossible for any investor to time the market perfectly on a regular basis. So, realistically, the best action that a long-term investor can take is to invest as soon as possible, regardless of the current stock market conditions. Furthermore, don’t let the size of your savings deter you from investing at the earliest possible moment. If you want exposure to Singapore equities, you can now invest from as little as $100 each month with Regular Shares Savings (RSS) Plan. If you want a globally diversified portfolio, you can consider digital wealth managers like Syfe. Syfe has no minimum investment amount and unlike traditional brokerages, no commission charge each time you increase your investment. Finally, some advice against picking individual stocks. You should always diversify your investments, rather than go all-in on one specific stock. This way if one underperforms, it doesn’t drag down your whole portfolio.
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Money FM 89.3 Show

Investments

Hi Anon For me personally, and the advice I tell clients before you start investment to make sure to have at least 6 months of expenses in your bank account. Otherwise, work towards saving this first Next would be to ask yourself, why are you investing. Do you want to use it in the next few years for a car? House downpayment? Or just to invest for the future, retirement etc With that set, you then determine your risk profile. Do you want to beat inflation? Can you stomach when the market is down? Do you want to do the investment yourself? Do the stocks analysis etc yourself? Do you have sufficient time n commitment to diligently do your homework? Monthly investment or a 1-time lump sum investment? The charges you will incur if you trade/ invest per annum Types of stocks/ bonds/ FD/ funds that you are comfortable with The country/ region or industry of the stocks/ funds These are some of the questions I assist my clients with. And to know how much is ideal, I advise clients 20% of their annual income Hope this helps! Cheers!
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Ohm Energy

iSwitch

Geneco

Keppel Electric

SeedlyTV EP08

Money FM 89.3 Show

Yixiong Chang
Yixiong Chang
Level 7. Grand Master
Updated on 06 Aug 2019
Imagine they are our different telco. M1, Starhub, Singtel etc. Or our Banks (DBS, UOB, OCBC, Standchart etc) offering mortgage loan. There are offering the same thing, but just different pricing terms. In short, the plans can be summarised into 2 main type. One is fixed price (imagine fixed interest rate loan), and another is variable (imagine floating rate interest based on sibor). The variable will be usually a discount( x %) off the regulated tarrif (sibor) rate that the rest of singaporeans are paying now. For actual plan comparision, see the official site. https://compare.openelectricitymarket.sg/#/home
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Investments

Savings

Money FM 89.3 Show

Nathaniel Alejandrino
Nathaniel Alejandrino, Stacker at Silver Fortress
Level 3. Wonderkid
Answered on 25 Nov 2019
Hi Anon, If you are looking for a physical bullion, check out these reputable dealers! BullionStar Silver Bullion Goldheart Bullion Gold Silver Central SilverAg These dealers has a wide range of products at competitive prices. Transaction can be pretty smooth and easily done online or over the counter. Best to visit them first before purchasing anything. You may also consider UOB if you prefer dealing your bullion with a bank. And yes, agree @Alvin below. Do not get from mall jewelry because of premiums. For a start, you may consider looking at governent minted bullions such as the Silver Maple Leaf and the American Silver Eagle from the bullion dealers above. These bullions are internationally recognised and generally has no issues when selling. The buying price minus the spot price is the additional premium we are paying whenever we are purchasing bullion. So try to avoid high premium products especially numismatics.
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Money FM 89.3 Show

FinTech

Career

Arun Pai
Arun Pai, Chief Kristals Officer at Kristal.AI
Level 4. Prodigy
Answered on 14 Nov 2019
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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Money FM 89.3 Show

FinTech

Savings

Cw Ho
Cw Ho
Level 4. Prodigy
Answered on 09 Nov 2019
I would certainly see shake up and consolidation within next 5 years. It will be increasining difficult for the smaller scale Fintech to survive unless they have really outstanding ideas and business cases. Banks and Big Techs would start acquiring the more innovative ones. Digital banks will encroach into services provided by Fintechs. Hopefull true Open Banking will give rise to more interesting opportunities to Fintechs and xTechs.
👍 1

Money FM 89.3 Show

Savings

FinTech

Paridhi Jhunjhunwala
Paridhi Jhunjhunwala, Associate at Kristal.AI
Level 7. Grand Master
Answered on 08 Nov 2019
Hi! FinTech is basically an upcoming trend globally. However, there is a wider impact in Singapore and other parts of Asia-Pacific because these are the developing markets of the world. Markets like Europe and United States are already developed and thus, the scope for a new idea to have major impact is lower. To know more about the impact of FinTech globally, click here. I work at Kristal.AI, and it's my passion to evaluate various upcoming investment opportunities. Happy investing!
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Money FM 89.3 Show

FinTech

Trading

Investments

Gabriel Tham
Gabriel Tham, Tag Team Member at Kenichi Tag Team
Level 9. God of Wisdom
Answered on 07 Nov 2019
You fully take on the risk without knowing what they are doing. Sure, you might make money but how sustainable is it? It is better to learn how to fish rather than depending on others for your fish. Give a man a fish and you feed him for a day; teach a man to fish and you feed him for a lifetime.
👍 0

Money FM 89.3 Show

FinTech

As mentioned on the broadcast, the issue of trust is very present - are people willing to be putting money into things that are digital only (ie only see online) It is similar to evolution of online shopping - now we all trust that if you buy on Amazon you will get your item but (showing my age) back in the 90s - it wasn't clear who you could trust. Even for myself, I poke around a lot of different financial products, and while MAS is doing decent job in consumer protection, there is an implied "you must do your own due diligence" in their appraoch when I see stories of IT issues that lead to customers not being able to access accounts - it does mean I close the door on trying those providers
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FinTech

Money FM 89.3 Show

Hahaha on the "who will get it" - thats the big question and if you know that then you must have some inside line to the MaS ! In terms of actual meaning - right now things, FinTech companies are restricted to certain activities (eg YouTrip cannot issue do loans, Funding Societies mentioned in broadcast about preference for invoice financing / receivable factoring coz unregulated). With a digital banking license, they would be able to do all the same things as your DBS/UOB/OCBC (albiet with hopefully a fresh look at systems/process to make things easier) so it would mean a lot more potential innovation (and hopefully improvements) in the way we do banking today.
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