Seedly PFF 2019

Singapore's largest festival for young working adults to learn about personal finance in an unbiased no-sales manner.

ASK A QUESTION
Seedly PFF 2019

Introducing the Seedly personal finance festival 2019.Singapore's largest festival for young working adults to learn about personal finance in an unbiased no-sales manner. Designed for beginners to intermediate in your personal finances in Singapore.

Date: Sat, March 2, 2019

Location: Suntec Singapore Convention Center Hall 406

ASK YOUR QUESTIONS BELOW!

  • Asked by Anonymous

    Zuhdy Farhan
    Zuhdy Farhan, Consultant at Jna Real Estate Pte Ltd
    Level 2. Rookie
    Answered on 03 Mar 2019
    Using your CPF for housing will deplete your cash proceeds from the sale of your flat in future. Because: Sale proceeds = Sale price - outstanding loan - CPF used - CPF accrued interest The more CPF you use, the less cash you receive = more money locked up in CPF. Therefore unless you are sure that you will be staying in this flat for the rest of your life, it is more advisable to not use it for housing wherever possible. Feel free to contact me for more information.
  • Asked by Anonymous

    Tai Zhi
    Tai Zhi, Chief Investment Officer at Autowealth
    Level 3. Wonderkid
    Answered on 04 Mar 2019
    Investing too narrowly, in this case the U.S. equity markets, is like putting all your eggs into one basket. What happens if the U.S.-China trade disputes escalates and causes its equity markets to decline? Most robo-advisors help clients to diversify broadly. Most robo-advisors, which uses ETFs as the underlying investment instruments (not all uses ETFs, DBS digiPortfolio uses high-fees unit trusts), help clients to invest at a very low cost (lower than if they were to DIY). Robo-advisors also offer a hassle-free service, which takes away the need to track markets on a day-to-day basis. You may check out our value propositions at this url: https://www.autowealth.sg/
  • Asked by Jermyn Wee

    Junus Eu
    Junus Eu
    Top Contributor

    Top Contributor (Apr)

    Level 7. Grand Master
    Answered 2w ago
    Personally even from a geographic distribution perspective, I tend to look more at US and China, as opposed to Singapore alone. There is no benefit to just purely looking at Singapore ETFs - I suggest taking a broad based approach and looking at the US stock exchange listed ETFs. Here's a useful resource to start: https://www.etf.com/etfanalytics/etf-finder
  • Asked by Anonymous

    Gabriel Tham
    Gabriel Tham, Kenichi Tag Team Member at Tag Team
    Top Contributor

    Top Contributor (Apr)

    Level 8. Wizard
    Answered on 02 Mar 2019
    You have an advantage. You know what it feels like to be poor. Those from affluent families do not. When you know what it feels like to be poor, your spending habits, your attitude towards money is different. You are more careful, more prudent with money. You have a drive and motivation to improve your situation. One advice I can give you is save as much as you can. Learn to invest. Then put it into action. Do not be distracted by the affluence you see, people drinking starbucks, people buying nice sneakers, nice clothes etc. One day, when you achieve financial independence and freedom, you will be the one having the last laugh.
  • Asked by Gabriel Tham

    Gabriel Tham
    Gabriel Tham, Kenichi Tag Team Member at Tag Team
    Top Contributor

    Top Contributor (Apr)

    Level 8. Wizard
    Answered on 23 Apr 2019
    My wishlist speakers are: 1. Joshua Giersch aka the one and only Shiny Things and Author of the book Rich by Retirement. 2. Andrew Hallam, author of Millionaire Teacher
  • Asked by @@ Lim

    Gabriel Tham
    Gabriel Tham, Tag Team Member at Kenichi Tag Team
    Top Contributor

    Top Contributor (Apr)

    Level 8. Wizard
    Answered on 02 Mar 2019
    U are not paying to cpf. U are paying to yourself the interest u would have earned if u didn't use cpf for house.
  • Asked by JQ Chen

    Yeo Kee Kuan
    Yeo Kee Kuan, Financial Consultant at Finexis Advisory Pte Ltd
    Level 3. Wonderkid
    Answered on 22 Apr 2019
    Great question JQ Chen, rarely do we think about the difference in purchasing from multiple insurer compared to just one insurer! The benefit of splitting your coverages between insurers is mainly for diversification (in case one insurer goes bankrupt etc) and to maximise the government's Policy Owner's Protection Scheme! Under this scheme, our life insurance policies are insured up to $100,000 per life assured per insurer by SDiC (governed by MAS). Meaning, if you bought a $200,000 term life plan from insurer X, you only are insured up to $100,000 by SDiC. But if you had bought $100,000 term life plans from insurer X and Y each, you will be insured up to $100,000 per insurer i.e. $200,000. The cons is inconvenience of applying for two plans and of course, it would likely cost you more to split the plan between two insurer (logic: cheaper when you buy in bulk). Find out more about SDiC and the Policy Owner's Protection Scheme at: https://www.sdic.org.sg/public/ppscopeof_coverage
  • Asked by Anonymous

    Tai Zhi
    Tai Zhi, Chief Investment Officer at Autowealth
    Level 3. Wonderkid
    Answered on 05 Mar 2019
    I'll leave the decision to you but allow me to highlight a few differences between the two robo-advisors: (1) Investment Strategy An overwhelming 80% to 90% of professional investment managers who stock-pick and time markets consistently underperform the general markets in the short, medium and long-term. Read https://www.autowealth.sg/strategy.php and click on the hyperlink to see the Standard & Poors Dow Jones research which concludes this. AutoWealth takes a passive market-returns investment approach. That is fundamentally different from Stashaway, which adopts a Economic-Regime Based Model. We also note that Stashaway does not publish their investment performance on the website unlike AutoWealth. (2) Safeguards Other robo-advisors including Stashaway adopts the "ONE omnibus custody/trustee account holding ALL clients assets" arrangement which may expose the investor to a lengthy court process to claim back the assets if the robo-advisor ceases operations for some unforeseen reasons. AutoWealth, on the other hand, adopts an even higher level of safeguard by opening personal segregated custody accounts for each individual investor in his/her legal name so that the legal ownership is 100% clear. The investor can claim his/her assets from the custodian directly without the need to go through lengthy court process. This is particularly important as there have been a negative precedent in Singapore where a MAS-licensed financial institution called MF Global went bankrupt and investors got back only a portion of their investments and only after a lengthy court process. Read: https://en.wikipedia.org/wiki/MF_Global (3) Human element AutoWealth assigns human wealth manager to every single client, no matter how huge or small the investment amount is. This means clients have a dedicated wealth manager to go to when they need any financial advice or need a professional to consult. Our clients often commend that "when they need advice, our wealth managers are just one whatsapp away". Other robo-advisors like Stashaway are pure digital platform with little or no human touch.
  • Asked by Anonymous

    Nicholes Wong
    Nicholes Wong, Diploma in Business Management at Nanyang Polytechnic
    Level 6. Master
    Answered on 19 Apr 2019
    Like Gabriel mention, Singaporeans are not affected by capital gain tax but affected by 30% withholding dividend tax. If you want to trade US stocks, it is better to look at overseas brokers like TD ameritrade, Charles schwab and so on as they usually have better commissions compared to local brokers but you have to double check.
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