Savings

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Savings
  • Asked by Ablah Kethu

  • Asked by Daniel Lee

    Kenneth Lou
    Kenneth Lou, Co-founder at Seedly
    310 Answers, 742 Upvotes
    Answered on 19 Dec 2018
    My Personal Financial Resolutions for 2019: - Bring my total Investment portfolio value to around $50k or more by end of year - Deriving a total dividend yield of around 6 to 7% p.a distributed in quarters ($3,500 cash yield every year) - Optimise my REIT portfolio to model the index better so it's more diversified - Continually contribute my RSP between $500 to $1000 every month - Ensure our Joint Account with my other half continues to grow well (and put at a better Yield location rather than the 1% p.a now) Saw a 2.02% savings account model type (even better than SSB) - Buy 2 x Growth stock during the market crash (when it happens) Total Returns = Capital Gains (growth stock) + Dividend Yield (REITs) Other side resolutions: - Grow the Seedly community here while our team also grows! And become Singapore's largest personal finance community centered on the mission to make smarter decisions! - Donate some % of my income to charity I believe in (right now it's the Brain Tumour Society Singapore) - Lose 10kg and win the weight loss challenge at work - Total pot is worth $1k LOL - Try the Keto diet lol. I will be documenting my investment journey here on my Seedly profile, so do join me here: https://seedly.sg/profile/kenneth-lou Here is the reference from previous years general template:
  • Asked by Anonymous

    Hariz Arthur Maloy
    Hariz Arthur Maloy, Independent Financial Advisor at Promiseland Independent

    Top Contributor (Dec)

    246 Answers, 427 Upvotes
    Answered 2w ago
    For such a long horizon and for the means of general wealth accumulation without risk or volatility, you may be interested in looking at a perpetual endowment plan with flexbility of withdrawals. One that comes to mind would be Manulife's ReadyBuilder plan. However, I would like to add that you do have the luxury to take on some risk because of your really long horizon, I would also suggest a globally diversified portfolio provided by an FA or a robo advisory. Maybe start with a dividend paying portfolio or a balanced one?
  • Asked by Anonymous

    Jonathan Chia Guangrong
    Jonathan Chia Guangrong, Fund Manager at JCG Fund
    277 Answers, 400 Upvotes
    Answered 17h ago
    Do you trust her to do financial planning for you? Seems like she's just pushing products, which is not a good thing. Any product recommended should fit into your plans for the long term. If she's still persistent, tell her upfront that it doesn't fit into your long term plans. Still persistent? Consider writing into the insurer to change agents
  • Asked by Anonymous

    Nicholes Wong
    Nicholes Wong, Diploma in Business Management at Nanyang Polytechnic
    195 Answers, 288 Upvotes
    Answered 1d ago
    Depends on how you buy and the minimum sales charge, if its 0.25% and minimum $10 sales charge, buying $4000 will be maximize. If buy using RSS, some dont have minimum sales charge.
  • Asked by Daniel Lee

    Lim Chun Long Jimmy
    Lim Chun Long Jimmy, Biz Partner at Flagship Games
    37 Answers, 93 Upvotes
    Answered 2w ago
    Circles.Life Ride for Rewards Those who commute using an EZ-Link card, you may consider installing the "Circles.Life - Events, Rewards & Telco" mobile app: - iOS - Android This app gives you 10 Life Points for every ride taken on the bus or train using your EZ-Link card. These Life points can later be redeemed for the following rewards: - Grab ride vouchers ($3 for 300 Life Points) - Golden Village movie discounts ($2 for 200 Life Points) - foodpanda food vouchers ($3 for 300 Life Points) As I have taken 79 rides to-date, I have accumulated 790 Life Points. Here are the screenshots of what the rewards redemption looks like: Assuming you take one ride from home to anywhere and then take another ride back home each day, that's 20 Life Points per day. Repeat this process for 10 days, and you will be able to redeem 1 Golden Village movie discount for 200 Life Points. 15 days to redeem either 1 Grab ride voucher or 1 foodpanda food voucher for 300 Life Points. As an additional hack, each ride transfer gives you an additional 10 Life Points! For example, supposed I'm in Yishun and I need to travel to Aperia Mall. I tried taking bus service 857 and then transfer to bus service 133 . Then, to travel from Aperia Mall to Serangoon MRT, I tried taking bus service 13 and then transfer to MRT service towards Punggol (North-East Line). The next day, I checked that 40 Life Points has been given instead of 20 Life Points! Download and install this app today for your personal finance journey!
  • Asked by Anonymous

    Xinyi Lum
    Xinyi Lum, Content Strategist at Seedly
    38 Answers, 103 Upvotes
    Answered 2d ago
    I really like this question! I think it goes without saying that spending habits generally increase very very significantly when one graduates from school and transitions into a full working adult. But now that you mention it, I think I tend to spend a lot more at the end of the year. It's also quite a proven trend amongst the Seedly community and my colleagues haha! I believe that this rise in spending is partly due to the festivities, and also the fact that you tell yourself you've worked hard all year and it's time to reward yourself. You reward yourself until the new year comes around then you snap back into it and realise how much money is gone and you try to go back to your frugal ways. I admit, that's me every year! Thankfully, my Seedly expense tracking app reminds me how much money I could have NOT spent instead... I usually spend a couple of minutes at the start of the month listing out what are some major payments/purchases I would have to make for the month and how I can improve from the past month, be it drinking one less cup of coffee a day or choosing a house brand when grocery shopping each week. Some things I won't scrimp and save on la....enjoy life a bit more I guess! :-)
  • Asked by Anonymous

    Nicholes Wong
    Nicholes Wong, Diploma in Business Management at Nanyang Polytechnic
    195 Answers, 288 Upvotes
    Answered 3d ago
    Save first before you spend, transfer the money you supposed to save to another account first straight away when u get ur pay or do monthly giro also can. Think of your goals and think hard about it. Make sure you want it so bad that you can do anything to reach the goals.
  • Asked by Anonymous

    Beng Keong Phang
    Beng Keong Phang
    1 Answers, 5 Upvotes
    Answered on 30 Oct 2018
    I think the best way is to talk to your children about the family finance. If you have been doing budgeting for say, groceries and bills, let the kids know this is what is available for those expenses. Bring them along when you need to make marketing trips. Give them a sense of the utilities bills you’re paying and how they can help reduce those numbers (eg turning off lights when not in use, use less water, aircon, etc).
  • Asked by Leong Wen Fong

    Angeline Teo
    Angeline Teo
    3 Answers, 4 Upvotes
    Answered 3d ago
    I took my first steps in managing my personal finance perhaps a little late I felt. It was only after I graduated I started to get serious about managing my finances. I started with recording my monthly expenses, going through my current insurance plans, talking to insurance agents and getting another bank account besides POSB to help improve my savings. There are times managing it alone can get quite tough, especially when I don't have a lot of friends to talk to about managing finances. Fortunately a year ago, my cousin introduced me to Seedly, and now I am starting to write and read more about personal finance here! :)
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