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Insurance

Life Insurance

Health Insurance

Term Life Insurance

FWD Term Life Insurance

NTUC Income Life Insurance

NTUC Income IncomeShield Health Insurance

Hi, I am 30 and worried about my parents as they have 0 insurance coverage. What should I get with a very limited budget? Hospitalization, Critical Illness or Term Life Insurance for them?
Hey there! For starters, hospitalization will be the most basic form of insurance since it covers for hefty medical costs. Hospitalization plan is payable by CPF Medisave. Whether to get CI or term life insurance will depend on your objectives. Term life plans are often used as a form of leaving behind a love gift in the unfortunate event of passing, especially for people in their late 50s or 60s. CI plans are often used to cover the income in the event of a CI diagnosis. It is likely that there will be an exclusion, a loading or the application will be rejected. You might want to consult a financial advisor to submit a preliminary underwriting to see what are the findings. Do reach out if in need. Take care and all the best! Financial planning is an integral part of life. You can reach me here to find out more.
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Investments

Online Brokerages

Brokerages

Robo-Advisors

I have a $5000 capital to start investing. What should I invest in? Feel free to do a breakdown on how you'll invest. Don't worry I'll do my due diligence of course :)?
Hey there! There are many options for you depending on whats your strategy. You can choose to either dollar cost average to spread out your investments or do a lump sum investment. There are many options for you to dollar cost average eg. Regular Savings Plan in ETFs or even get an investment-based ILPs etc. The other option for you is to do a lump sum investment. You can either buy an ETF on its own or do your own stock picking. But do evaluate your risk appetite. Depending on what is your risk appetite, you will ratio out the riskier and safer assets. Do make sure you've sorted out your emergency funds and insurance side of things! THis is to ensure you dont have to liquidate your investments when a crisis happens. All the best! Financial planning is an integral part of life. You can reach me here to find out more.
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Investments

S&P 500 Index

ETF

STI ETF

Online Brokerages

FSMOne Fundsupermart

FSM Maps

Regular Shares Savings Plans (RSS/RSP)

Any suggestions for allocating and selecting platforms for $500/month on ETF (local & global) ?
CA
Clive Ang
Level 3. Wonderkid
Answered 2d ago
Hi, It really depends on what you plan to do with your investments? Are u looking for dividends consistently? Or are you looking for capital gains? For dividends, I would say that the STI ETF pays are much better yield than the S&P 500. However, in terms of capital gains it is really far off the S&P 500. It wouldn't be fair to compare the two anyway because both countries have different economies. I would probably hold both and proportion according to what your goals are. Have tried several Brokers from TD Ameritrade, Interactive Brokers, Tiger Brokers and even our local banks like DBS Vickers. If you are looking to buy SG stocks, not many Brokers offer that right now. I'm using Tiger Brokers for that right now because of low commissions. That being said this is a custodian account as compared to a CDP account like DBS Vickers. Some people would rather pay higher commissions for that ease of mind in a CDP account. It depends on your risk appetite. I personally split my account across a few brokers If you are a beginner, i would strongly recommend using a robo-advisor as well. Something like stashaway. It takes the guesswork out for yourself. $500 a month would be difficult to purchase on a normal broker unless u buy fractional shares which not everybody offers. Should you decide to go ahead with a regular broker i would say alternate and dollar cost average your different investments across the months. E.g Month 1: S&P500, Month 2: STI You also don't get taxed on capital gains for US stocks with the exception of dividend payouts. So i would not worry about that unless you're using the S&P500 for dividends Hope that helps!
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Investments

Savings Accounts

Online Brokerages

Hi! I’m new to investing and would like to invest $100 a month. I have a low income but would like to grow my wealth. Any tips on which platform is better for someone like me?
Tan Yu Ji
Tan Yu Ji
Level 3. Wonderkid
Answered 1h ago
For someone who has only $100 a month, i recommend investing in a regular savings plan. RSP is suitable for three groups of people: 1) You do not have time to monitor and keep up to date with the markets. 2) You do not have much experience investing in the market yet. 3) You have a small capital to begin with. The good thing about RSP is that the charges are really low, so it is more cost efficient. Once you are comfortable with investing and wish to generate better returns, you can then start considering the option of buying and managing individual stocks. With as little as $100 per month, you can start investing regularly and gain exposure to a variety of different stocks. RSP adopts the idea of dollar-cost averaging, where you invest a fixed amount of money monthly - you automatically buy more units when prices are low and fewer units when prices are high. This helps to average out the market’s peaks and troughs and ensure that you do not attempt to time the market. Statistics show that even 90% of fund managers underperform their benchmarks from time to time, so timing the market is something we advise against. Studies have also shown that investment performance of fund managers is mostly likely luck rather than skill. Good past performance does not indicate a good future performance! You can check out stashaway for robo advisors or FSMone to invest in S&P500 RSP Use my referal for stashaway! Have you started investing with StashAway yet? Sign up with my link and we'll both get up to $10,000 SGD managed for free for 6 months! https://www.stashaway.sg/referrals/yujit373 Also do check out our insta @themoneybakers for a step by step investment guide!!
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Lifestyle

Personal Finance 101

Where are you at right now on your financial independence journey? Could you share your experience if you have already reached financial independence?
Tan Yu Ji
Tan Yu Ji
Level 3. Wonderkid
Answered 1h ago
Currently, i am still a student and hoping to reach financial independence when i reach the age of 40! I have beem investing consistently to save for my future. I am also posting my investment journey on Insta. Do follow us on @themoneybakers to get a step by step guide on investing! Let us learn together!
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Endowment Policies

Insurance

Financial Planners

What is the difference between partial surrender of bonus from a policy and partial surrender of a policy?
Tan Yu Ji
Tan Yu Ji
Level 3. Wonderkid
Answered 1h ago
A partial surrender of bonus from a policy will not affect your main policy, but a partial surrender of your policy will affect projected returns or even maturity value!
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Investments

CPF IS

Stocks Discussion

Online Brokerages

Why are some SG stocks not allowed to trade using CPF? I am surprised by some Temasek-linked business trusts like Ascott Trust, Netlink NBN Trust, keppel Infra Trust and Ascendas India trust. Any advice?
Tan Yu Ji
Tan Yu Ji
Level 3. Wonderkid
Answered 1h ago
As all investments have risk, the government has restrictions to make sure you have enough money when you retire.
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Investments

Commodities

Where to sell silver bars without losing on large spreads selling back to bullion dealers?
Lee John
Lee John
Level 5. Genius
Answered 1h ago
Take a look at this article: https://www.drwealth.com/how-to-sell-silver-bullion-and-coins-in-singapore/
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Robo-Advisors

Investments

Kristal.AI

How do I find out the tax portion on returns for ETFs if I am using Kristal.AI?
Lee John
Lee John
Level 5. Genius
Answered 1h ago
You will be investing directly into the funds. So you can search up those details from the fund's website, depending on what you invest in.
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Investments

Robo-Advisors

Savings

Savings Accounts

Credit Cards

DBS multiplier, reaching next tier interest rate with GIRO credit card spending?
Nicholas B
Nicholas B
Level 5. Genius
Answered 1h ago
No. Credit card spending, as its name implies, refers to transactions performed using your credit card. GIRO does not count towards that.
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