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Property

A roof above your head or more?

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COVID-19

Property

Payments

Rebates

" Landlords are urged to fully pass on the rebate to tenants by reducing rentals, to directly ease the cash flow and cost pressures faced by tenants. " Not compulsory.
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Entrepreneurship

Family

Lifestyle

Savings

CPF

Property

CH
CH
Level 6. Master
Answered 2w ago
You need one person to perform both jurisdictions?
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Property

Undergraduate

Savings

Alvin Teo
Alvin Teo
Level 6. Master
Updated 15h ago
On a personal level you should focus on leveling up your worth to earn higher pay. You won’t be undergraduate forever. Learn to aim for items within your means. For accumulating, you can follow a certain allocation to invest and save. And once you book your flat, do not keep on investing in stocks and pursue something fixed and guaranteed. Imagine people who only invest and now they have to pay for their house deposit. It’s gonna only make them realize their paper losses. Sit down with an honest, properly licensed financial adviser and start a relationship with each other built on trust (meaning to believe each other, not the financial term trust). I’m an advisor myself but I’m speaking as someone who has already got married and own my own flat (I did all these before I even harbored the thought of entering the industry). Now more than ever, it’s time to be productive at your work, not only you may get to earn more but more importantly, your productivity contributes to the GDP. All these investment is no good if we are not competitive as a nation. PS: Follow us also on telegram!
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Personal Finance 101

Savings

Investments

CPF

Property

Savings Accounts

Credit Cards

One: Not just high yield savings account. Make a list of ways to increase your total income (i.e. active income, passive income), and at the same time reduce your total expenditure (i.e. fixed expenditure, variable expenditure). Here is a Guide: Understanding Your Personal Cash Flow For instance, find out how you can create a stream of passive income early in your life, and how to build it to cover your fixed expenditure. While doing so, keep your expenses as low as you can. Accordingly, this frees up more net cash flow for wealth accumulation. Two: Generally, we want to maintain about 3 to 6 months of total expenses as emergency funds (explanation in link above, under Part 4.1). However, we need to know your income ability and spending habit to have a layer of cushion that works for you. Let's say you work on a contract basis and job is unstable. How long will you need to find another job of similar or lower salary? Likewise for expenses, we need to know whether fixed expenditure is dominating your cashflow (some words for thoughts in Part 4.1 of the shared post). Three: Have a complete understanding of your existing insurance portfolio. Through this process, it allows us to understand the coverage that we have, any financial gap, as well as to find out whether we are overpaying for our insurance policies. Key Reasons Why: Why Every Client needs an Insurance Policy Summary How much insurance coverage should You have? As a general rule, 10% to 20% of your annual income on healthcare insurance and life insurance Basic Life Cover = 10 times your annual income Critical Illness Coverage = 5 times your annual income As usual, this is the general rule which may or may not make sense. Instead, work with an experienced consultant and plan ahead for your future. This ensures that in the next part when we are focus on building our wealth, we do not need to worry on our health. Four: Have a well-defined investment objective. When your emotions kick in, you have logic to help you overcome your emotions. Consider a step-up annuity to createa a cushion for your fixed expenditure. Besides, have a complete understanding on the risk that you are undertaking for your portfolio. Personally, I prefer to take calculated risk rather than unnecessary risk to reach my goals. More Details: Types of Investment Risk that You should know Therefore, you may wish to ensure that your asset allocation suits your risk appetite and investment objective and your positons are well-hedged. Five: True if and only if you invest in the right assets. Set a proper reminder in and conduct regular portfolio reviews to ensure that your investment objectives can be fulifled and your life goals are still the same. I share quality content on estate planning and financial planning here.
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REITs

Property

Investments

ZT
Zachary Teo
Level 4. Prodigy
Answered 3d ago
Interestingly, the REITs are climbing back slowly. I think this is largely due to the recent package release by government. Property prices will be hard to say as people may not want to sell their house now as it is safer to have a roof over your head. Less trading, more concious buy.
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Income Tax

Property

Savings

Expenses

JY
J Yeoh
Level 3. Wonderkid
Answered 5d ago
Only used to pay rent so far. previously able to get GrabPay MasterCard points and helped me to get platinum status but now it doesn't give GrabPay points anymore :( Hopefully still can get cashback with UOB one credit card. currently ipaymy 1.79% fee (20% cheaper than usual) https://www.ipaymy.com/
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Property

Maddie Xie
Maddie Xie
Level 2. Rookie
Answered 5d ago
Hi Gabriel, I didn't use Qanvast and chose HomeRenoGuru instead. The entire renovation process was fuss-free and the level of service provided was excellent. I am very sastified with the results and would highly recommend HRG to homeowners looking to revamp their spaces.
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Economics

Investments

Stocks Discussion

Property

Savings

COVID-19

Sharon
Sharon
Level 5. Genius
Answered 2w ago
1) Keep yourself updated of the trend where coronavirus is heading, as well as the measures taken by govt. around the world and various economic bodies e.g. U.S. Fed, ECB. 2) Buy a portfolio with 10-30 stocks. No more than 5% allocation per stock. It's to ensure your risk exposed to any one stock is minimised. 3) Research into mid-to-large companies with market cap $500 million and above. Put those that pass your criteria of strong fundamentals into the watchlist. If need be, you can use jitta.com to assist in your decision-making, among other things. 4) No one knows when's the bottom, so buy in 3-5 tranches. You can go into the market, but don't go all in at one time. Example: $5,000 per stock. If it's 3 tranches, then you can allocate something like this: $1,500 (1st tranche), $1,500 (2nd tranche), $2,000 (3rd tranche). Up to you how you want to allocate. Just make sure that your cost of buying that stock each time is not more than 1%. 5) Hold onto your job, prepare cash and ride this out. In Warren Buffet's words: "In the world of business, bad news often surfaces serially: You see a cockroach in your kitchen; as the days go by, you meet his relatives." Although he's referring to Tesco's business, I think this fits the current GFC as well. I just think there will be more bad news surfacing. So unless there is a solid proof of vaccine news coming out and return of confidence in businesses and consumers, I think the market will drag itself until that happens.
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Property

Loans

N
Ninja
Level 6. Master
Answered 1w ago
Fixed vs variable interest rate should answer your questions
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Property

Investments

T
Thomas
Level 4. Prodigy
Answered 4w ago
I think most of us here have the same sentiment, and as you mention, property will lock up your asset for a long time till you sell. So if you prefer liquidity, equities are the better pick. With the current market condition, my view is that both are equally attractive. Here's my 2 cents: Property: With the recent interest rate cut, taking a loan should cost lesser. Coupled with the increased uncertainty in the market and reduced inflow of foreigners, it should result in lesser demand, which means that price negotiation will be better from buyer's perspective. There are also quite a large number of unsold properties since last year, and quite a number of new launches coming up, which further adds up to supply in the market. TLDR: Supply Demand, price should drop. Equities: The market has been doing badly since last week, with historical drop in Dow Index as well as local stock prices. While we won't know if the market will continue to be bearish and going into recession (I hope not), it is good to look into the equities of companies with strong fundamentals. Historically, they will rebound stronger once this virus issue blows over. Hope this helps!
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