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Retirement

Making sure you have enough for the later years

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Investments

ETF

Retirement

Stocks Discussion

Brokerages

Online Brokerages

Hi Isaac, It does depend on where you'd like to invest in (market) as well as the asset class. Beyond just the transactional costs (or fees, as you call it), look at working with someone you can trust if it comes down to that. I'll give an example using POEMS if you invest on your own: - UTs: No platform fees, sales charges or switch fees. Pretty much the lowest you can go - Shares: Brokerage is depending on the market, and account type which can be found here: https://globalmarkets.poems.com.sg/markets-we-offer/ - ETFs: This depends on the exchange it is listed, and so would follow stocks - Corporate bonds: Spreads are competitive and probably better than the banks Good to hear that you exited a high cost product. Those were created to get around estate taxes in other colours, but with zero estate tax in Singapore, there's no reason to invest through something with such a cost structure.

Insurance

Retirement

Investments

MoneyOwl

Gabriel Tham
Gabriel Tham, Tag Team Member at Kenichi Tag Team
Level 9. God of Wisdom
Answered 16h ago
Havent attended mine yet but soon. It is free for first time so you can check it out too on the platform. I got my report from the platform and it is definitely very comprehensive and analysed, incorporating CPF schemes too.

Investments

Savings

Retirement

Stocks Discussion

Daryl Liao, Fti
Daryl Liao, Fti
Top Contributor

Top Contributor (Dec)

Level 7. Grand Master
Answered on 15 Dec 2019
Hey there. Definitely! You have to start somewhere. although it seems small now. But you gain experience as you go and it's always better to make mistakes when your portfolio is small than big right? :)

FIRE Movement

Investments

Property

Lifestyle

Retirement

Career

Savings

Entrepreneurship

Hey! Education is the best investment, especially if you're starting late. There's tons of FIRE blogs are there, but if you're like most heartlanders in Singapore, with at least a 30 minute commute in the morning, i would suggest downloading the app Libby, where you can borrow ebooks from the National Library very user-friendly interface (wayyy better than the previous method of using Overdrive). My top recommendation is the following book available as an ebook via Libby Financial Freedom: A Proven Path To All The Money You Will Ever Need by Grant Sabatier. My personal review is that this book covers 95% of everything you need, including how to ask for a raise, how to start a side hustle, how to invest etc. If you need a great starting point, i think this is it. This was written by the blogger of millenialmoney.com and he also has a fairly informative podcast. Go check those out as well. I guess i will end with: for almost anything, the best time to start was yesterday. But the next best time is today. And you dont have to start perfect, or start 100%, you just have to start. And i think the above book will give you more than sufficient strategies/tactics to get started in 90% the right direction. Best of your luck.

Investments

Retirement

FIRE Movement

Ok I'll assume you're 33 now and 35 in 2 years time. See, you'll need this money to last you probably 60 years. Mathematically, if you have a 4% yearly return on your portfolio, you'll be able to withdraw 2.5k/mth for 60 years before your 700k becomes 0. But this doesn't adjust your withdrawal for inflation. So there are a few ways you can do this. You can invest the 200k from the property in a globally diversified equity portfolio, hopefully make a 7% compounded return on that for 25 years giving you another $1.5m from 60 onwards. Spend the inital 500k (at a 4% return) over 27 years and take out 2.5k/mth. And then that 1.5m at 60 can last you another 35 years by taking out an inflation adjusted 6.5k. SO TLDR Invest 500k in a conservative dividend portfolio giving you 4% per year. Spend that over 30 years by taking out 2.5k/mth. Invest the 200k from the condo over 25 years in a moderately aggressive portfolio at 7% compounded return giving you 1.5m by 60. Invest that in a conservative portfolio giving you 4% per year. Then you can spend 6.6k over 30 years till you're 95. Hopefully by then, you die.

CPF

Retirement

Mark Chan
Mark Chan, Business Manager at Amobee
Level 5. Genius
Answered 3w ago
CPF interest is computed monthly. It is then credited to your respective accounts and compounded annually. Hence, the earlier you top up in the year (i.e. Jan), the more interest will be credited to you for that year. ! Other benefits of topping up earlier include meeting the year-end tax relief deadline, especially if you are doing it on the last day of the year.
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Insurance

Retirement

Investments

Savings

I would love to buy over your plan because its good imho. limited premium, and fully paid, and surrender value just cross. No, i would not advocate surrender unless you are able to beat the returns of the policy. I encourage using facts and figures to make an informed decision . PS: I am a 2nd hand insurance broker, and would love to profit it should you choose not to continue.

Stocks Discussion

Investments

Retirement

Yee Woon
Yee Woon
Level 6. Master
Answered 4d ago
Textbook answer would be 10 years bond coupon rates.

Savings

Retirement

Salary

Investments

CPF

Chin Guo Qiang
Chin Guo Qiang
Level 5. Genius
Answered 4d ago
Use the 50-30-20 rule, but for me, it is 20-60-20 rule. 20% for fixed expenses (set fixed Budget) 60% for savings before any other plans. 20% for misc. expenses. Without CPF, the 60% ratio is very important as you don't want to lose out on another chunk of interest payable, after CPF is thrown out of the equation. :)

FIRE Movement

Retirement

Savings

Gabriel Tham
Gabriel Tham, Tag Team Member at Kenichi Tag Team
Level 9. God of Wisdom
Answered 2w ago
Shoutout to Tree of Prosperity and Investment Moats
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