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Singlife Insurance

Singlife Card

Singlife Account

Investments

Savings

SingLife 2.5% for first $10k: yes or no?
Corleone
Corleone
Level 2. Rookie
Answered 26m ago
If it's an either-or decision for S$10k, honestly 0.5%p.a. difference isn't going to move a needle. That's only $50/year, $4.17 a month. Reduce your unnecessary expenses and i'm sure you can make up for that $4+/mth. So, focus on building up your savings first. Having said, Jumpstart is a saving plan whereas Singlife is a ISP (i.e. not a savings account). And Yes, interest is credited monthly and you can see the daily accumulated amount in the app.
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Investments

Savings

Lifestyle

Savings Accounts

I am 21. I have a cash worth of 120k~. I am want diversify my money but I am not sure what I should do. Someone please advise me? Right now I just have two regular account with posb n ocbc.?
Wilson Nid A Break
Wilson Nid A Break
Level 8. Wizard
Answered 1h ago
Go to libbyapp.com and login via your NLB account, and go borrow as many personal finance / value investing books to improve your financial literacy instead of needing to ask anonymous online sources as a mental crutch for piecemeal advices which fluctuate as frequent as the sentiment wavers
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Career

CPF

Loans

Savings

Payments

Property

Is it silly to quit your job now for career switch?
Summer
Summer
Level 5. Genius
Answered 13h ago
The reason you decide on a career switch must be quite important to you, considering how you are looking to change despite the situation you are in. I don't think it is advisable to use cash to top up your CPF. Plus, you should really think about whether your emergency funds and savings are currently enough to support your everyday lives, which goes to say your living expenses and bills, beyond just mortgage payment.
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DBS

ETF

Value Investing

Investments

Savings

STI ETF

Online Brokerages

Stocks Discussion

I have a low risk appetite, and just started investing on ETFs. With extra income this month, what else should I invest in?
Zi Shuen
Zi Shuen
Level 4. Prodigy
Answered 6d ago
Hi Shawn, in my opinion, all ETFs on DBS Invest Saver are on the low risk side. Other than STI ETF, you can also look into ABF Singapore Bond Index Fund and Nikko AM-StraitsTrading Asia ex Japan REIT ETF. However, the downside of those is that their return is relatively low. I'd actually suggest you create an account with FSMOne and use their regular savings plan (same as DBS Invest Saver, whereby you invest $x every month). FSMOne RSP have more varieties for you to choose from, and I'd personally recommend iShares Core S&P500 (IVV), Vanguard FTSE Emerging Markets (VWO), and Fidelity MSCI InfoTech (FTSE). Another option for you in POEMS Share Builder Plan (same, they're regular savings plan like DBS Invest Saver and FSMOne RSP). Here, you can buy REITs for dividends income (since you'd prefer low risk) such as Capital Land Mall Trust, Mapletree Commercial Trust, DBS and more. Robo-advisor such as StashAway, Syfe, MoneyOwl etc also provide you your own customized portfolio that cater to your preferred risk level. All the best for your investment journey, stay safe, stay healthy, and stay invested!
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SeedlyTV S2E07

Savings

Savings Accounts

Undergraduate

I am an undergraduate and all my money is currently in a DBS Savings Account. Are there any other better ways to grow my savings with higher interest rates?
Amanda
Amanda
Level 5. Genius
Answered 2h ago
Hi Anon, I would suggest you to open the following accounts: 1. Singlife: 2.5%p.a. for first 10k 2. Standchart's Jumpstart: 2%p.a. for first 20k (Do note that you have to open your account before you turn 27) 3. OCBC's Bonus + Savings account: 1.45%p.a. if you deposit $500 a month and make no withdrawals. If you do not deposit $500 a month but you make no withdrawals you will earn 1.05%p.a. for that month. 4. CIMB's Fastsaver: 1.0%p.a. Some of these accounts have great perks, such as debit cards cashback. Jumpstart account offers 1% cashback on eligible transcations with no minimum spend. If you are still using your DBS account, I suggest you to use the DBS visa debit card. If you hit a minmum spend of $400/ month via contactless transcations, you will be eligible for 3% cashback, capped at $20/month. A relatively great deal!
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Insurance

Endowment Policies

Savings

Savings Accounts

I have a Pruflexicash (25-year Term). What are the differences in payouts if I withdraw the cash benefit?
Hi Candy, Your policy illustration should have two scenarios, one whereby you reinvest the cash benefit at a non-guaranteed interest rate till maturity (which is relevant to your situation now), and one where yo withdraw. If you intend to start withdrawing, you will definitely impact the maturity payout. Should you choose to do so, you can request for a new illustration to reflect the impact of your withdrawals. Every year, reversionary bonuses will be credited to your policy and become guaranteed. Upon maturity, there will be a terminal bonus as well (subject to the insurer's discretion, par fund returns, etc). Thus it is too premature to say that there is no maturity bonus. It's probably non-guaranteed from what I know, but you can't rule it out until your policy matures.
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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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Investments

Savings

I finally decided to start investing and not leave it in the bank for years. Do you all have any advice on what I should invest in? I am willing to leave it untouched for 3 years?
Fatty Finance
Fatty Finance
Level 4. Prodigy
Updated on 09 Feb 2020
Singapore Savings Bond or continue keeping it in the bank. Look for other high interest savings accounts (dbs multiplier, ocbc 360 or uob one etc etc) that can guarantee your principal. I agree with all the others, 3 years is pretty short time period for investing. Given the volatile start of year 2020, there is no guarantee you will gain anything more by investing than just leaving it in the bank for 3 years. In fact, it is possible to lose more. Which brings us to another key factor: how much can you afford to lose? This will determine which kind of assets you should invest in - stocks or bonds or a mixture of both.
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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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Investments

Savings

Hi! I am currently a student and I have around 30k savings. What should I do with it? I tried reading some of the articles but there's just too many types of investment. What would you recommend for a beginner?
Samuel Rhee
Samuel Rhee, Chief Investment Officer at Endowus
Level 4. Prodigy
Updated on 21 May 2019
Dear Jiaqi, Well done and those precious savings need great advice, access to good products and you need to invest in a low cost manner - as cost and fees are one of the biggest reaons why people struggle with their investments. There are several options to go it alone and do DIY or try out various online and offline platforms. Some great books to get you going. Such as The Little Book of Common Sense Investing by John Bogle(founder of Vanguard) & Unconventional Success by David Swenson(CIO of Yale Endowment). Please also take a look at this article I wrote. https://endowus.com/insights/true-giants-of-the-investment-world-buffett-templeton-booth-bogle-swensen-5eaf2babf6/ I would ask you to try out Endowus, the most sophisticated wholly digital independent financial advisor in Singapore. Which means we are lowest cost at providing the most sophisticated advice that is available and we are independent so we are not paid off by any other financial product peddler or owned by any big financial institution. You can see here https://www.endowus.com We provide sophisticated institutional services that is similar to the way institutional investors would do it, like sovereign wealth fund (think GIC) or Yale/Harvard Endowments who have some of the best long term investment track records. We also have been contributing and doing our part to financial education and have a regular write up that is approachable and relatable yet focuses on the most important key facets of investing as an individual. Here - https://endowus.com/insights/ Check out the content there and reach out to us if you need any help. I was previously the CEO & Chief investment officer at Morgan Stanley Investment Mgt and have 25 years experience and I have together with my partners created Endowus to provide the kind of service that I would want myself and for my friends. So try it out and let me know your thoughts. We are rolling out our services in coming months but we have a simple core portfolio solution that is suitable for 95% of Singaporean individual investors. Tax-efficient, SGD-denominated(so no FX risk) and cost effective as well to a fraction of the industry average costs. Please do more research and enjoy the learning process. If you want to learn more about what Roboadvisors do as some have suggested to you here, (and also why Endowus is different!) then take a look at this article as well. I wrote it in The Edge a little while back and it will help you understand the whole landscape much better. https://cdn.endowus.com/press/TheEdge%202019-03-08%20-%20Are%20robo-advisors%20doing%20what%20they%20say.pdf Happy investing! All the Best, Sam
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