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SeedlyTV EP01

Beginner's Guide to Personal finance. LIVE on Wednesday 27th March 8-9pm!

63 
Questions answered
  • Jon Essbow
  • Marcus Tan
  • Valentena Hanna
  • Adam Wong

"I'm completely lost when it comes to managing my own money... Where to start?"

Many of us have these questions when we leave school, start our first job, and start to realise that nobody taught us how to manage our money. Fear not!

SeedlyTV EP01 presents: A Beginner's Guide To Personal Finance. In this episode of SeedlyTV, we have Kenneth Lou, Co-Founder of Seedly who will be sharing some basics to help you increase your knowledge on personal finance!

You can check out what was covered here:

SeedlyTV is a series which will be covering topics via LIVE video and QnA on the Seedly platform. We will be inviting speakers to cover relevant topics in personal finance: Insurance, Debt, Saving, Spending and Investing.

-This is a Seedly organised event-

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Retirement

Investments

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Hi! Since your current financial plan is based on the Singapore markets, you can leave a majority of your investments in Singapore itself. However, you should take some amount to the place you retire and invest there to have some more liquidity in case you need some funds in the new country. As most transactions are online these days, it should not be too much of a hassle to deal with investments from anywhere in the world. I work at Kristal.AI, and it's my passion to evaluate various upcoming investment opportunities.

Savings

SeedlyTV EP01

Investments

Hazwan
Hazwan
Level 2. Rookie
Answered on 23 Jul 2019
Boy, you're still young Go for courses that shape your mindset, followed by public relations/communication, then valuable skills such as stock trading/investments and sales/business, if that interests you in the future. Use your multiple gahmen bonuses (don't be stingy) to buy books and online courses that gives you skills that can serve you well after 30s or 40s. Don't rest or be comfy. Be restless and keep learning and applying what you learnt. When you think you are oredi champion, then you're screwed! Invest in your health too. So that when you are rich in the future especially if you follow my advices, you can enjoy the fruits of your labour while you're in the pink of health Dun give excuses or ask too many questions. Seek knowledge thru coaching and mentorships and apply to gain experience. Gain feedback and improve. Rinse and repeat, until cow come home.

Savings

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Jolene Tan
Jolene Tan
Level 3. Wonderkid
Updated on 27 Jun 2019
You can earn or invest. Assuming investing can wait, you can focus on earning with different part time jobs eg. participate in research studies, work event jobs (like the Coffee Festival) or give tuition. If you really want to start investing perhaps you can work out an agreement with your parents! Personally though, I think saving is much more important when growing up because young people like me really spend too much - peer pressure, indecision, whatever. Here are 3 areas I think you'd do well to focus on! 1. hanging out with friends: when you want to hangout but would be too broke for another cafe, consider dabaoing food to an open area like rooftops/open fields, sleepovers, cycling trips or even hike -- saves alot over time! 2. following (expensive) trends: trends will come and go - though you'd be tempted many times (like, I don't know, Fila Destroyers) but growing up is a great time to explore and figure out your own style and preferences, so others wouldn't decide it for you! You can explore styles by thrifting or clothes swapping with close friends for example. 3. trying to save too much: on the other extreme sometimes we spend lesser on important items - I'd recommend spending more on basics that can stretch for a longer period of time (eg. comfortable shoes, good quality basic clothing).

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1M65! Ho Ching! because she shared seedly post before!

Investments

Loans

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Guo Hao Teo
Guo Hao Teo, Self-Taught Enthusiast at Personal Finance
Level 5. Genius
Updated on 07 Jun 2019
I would think that paying of your student debt would be the top priority. Because interest works both ways: - Up: When you have positive returns it will compound - Down: when you have debt, your interest of 1-2% will grow as well

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Luke Ho
Luke Ho, Money Maverick at Money Maverick
Level 7. Grand Master
Answered on 08 Apr 2019
If you didn't like it, don't sign the paperwork. Even insurance companies offer standalones. Don't judge them all by one example. That's why there are so many in the first place. No offense, but you don't know enough about the industry to assume that comment is true. In any case, that's why I have a job. But that also means you have to pay a distribution cost to a Financial Advisor. So you kind of have to decide - are you going to do the work or is someone going to have to do it for you? Personally I'd pay, because my time is money.

ETF

SeedlyTV EP01

Investments

Luke Ho
Luke Ho, Money Maverick at Money Maverick
Level 7. Grand Master
Answered on 08 Apr 2019
The Vanguard and Blackrock studies have shown that if you have more, you should invest more. Otherwise, you can DCA. Especially if you're a low-commitment, low-risk investor. You should really invest regularly over time as a general rule if you're trying to build capital.

Disability Insurance

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Luke Ho
Luke Ho, Money Maverick at Money Maverick
Level 7. Grand Master
Updated on 07 Jun 2019
I'm interested in this response because the Seedly people who are usually FIRE supporters aren't exactly known for appreciating the range of coverage for insurance. Who knows, really. I actually don't think disability income insurance is an essential insurance though, or has been marked as such. By the way, I'm a licensed Financial Consultant. So seeing as I just cut off an opportunity to sell, it should tell you something.

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Luke Ho
Luke Ho, Money Maverick at Money Maverick
Level 7. Grand Master
Answered on 08 Apr 2019
You shouldn't take the risk and invest in a fundhouse instead. Such as mine. https://www.facebook.com/luke.ho.54

Insurance

Savings

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Junus Eu
Junus Eu
Top Contributor

Top Contributor (Nov)

Level 9. God of Wisdom
Answered on 16 May 2019
As with all equity related products, yes if you are selling below what you bought at. Which is why it's important to have liquidity. When markets tank and things are in the red in the short term, you do not want to be in a position where you feel like you are forced to sell; you want to be able to hold it for the long term and get a positive return in the long run.
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