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Savings

Yinghua Liu
Yinghua Liu,
Level 3. Wonderkid
Answered 10h ago
Every individual is different with different responsibilities, bills to pay, loans, inheritance, salary etc. There is no fit-for-all amount to achieve at 30. There is a guideline from Seedly and other financial blogs on the percentage to save, invest and expenses. (20% for savings, 50% expenses and 30% wealth) Also, pay off the loans (if any) first, then get healthcare insurance set up and start building your emergency fund (6~12 months of monthly expenses) before you move on to investing.

SeedlyTV EP06

CPF

Kenneth Lou
Kenneth Lou, Co-founder at Seedly
Level 8. Wizard
Updated 2w ago
This is indeed one of the biggest 'hacks' and 'recommendations in today's working adult world to contribute and top up your CPF SA for higher interest rates. TL;DR: It’s all about 2.5% vs 4.0% ! Essentially this act of topping up the SA account is about your retirement funds and allowing it to compound at a faster rate of 4% to 5% p.a risk-free rate. By doing this action: - It locks up your money with the CPF Special Account till age 55 - You are unable to use this money for property, education or CPF approved investments (normally from your OA) WARNING: You cannot reverse this action and take out the funds! Thus by going by the above illustration, the people who should do that are people who: - Are willing to lock up their funds till 55 years old - Are likely single and plan to stay single (with no kids for education) - Do not plan to buy any property using your CPF OA (housing) Hope this helps :) You can read more about this topic in a blog post I wrote some time back also: https://blog.seedly.sg/should-you-transfer-cpf-oa-to-sa/
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Investments

Ryan Weng Yew Ngei
Ryan Weng Yew Ngei,
Level 2. Rookie
Answered 1d ago
Wien's REITs course is GREAT. He explained REITs from the foundation to advance evaluation. His case studies are real life REITs. The part I really like MOST is how to evaluate REIT to determine its Fair Value. After the course, I initially monitoring the Shortlisted REITs. Later, I "test water" by investing a little. I made a small profit. At this point, I am convinced that Wien's method works. I invested more in REITs and made back more than the course fees. More importantly, this course teaches me "How to fish which will feed me for life, rather than just feeding us with fishes (tips) which will only feed me for the short term". Regards, Ryan

Property

General

CPF

Eleanor Ng Lai Hong
Eleanor Ng Lai Hong,
Level 2. Rookie
Answered 6d ago
I would suggest both. Cpfoa earns a risk free interest rate of 2.5%pa. Currently, HDB loan is 2.6% but if loan is taken from bank, you can still probably get a low 2%. So by using cpfoa, on top of losing the interest rate cpfoa earns you, you are using a higher yield instrumt to service a lower cost of debt. But having said that, you may need liquidity when the kids come etc. So having a mix of both you the option to adjust the ratio of cash / cpf mix.

Seedly

Elijah Lee
Elijah Lee,
Level 6. Master
Updated 17h ago
Mostly mobile, as I'm on the move frequently. Desktop when I'm at my desk (physical keyboard is better for me). Sometimes when I get push notifications on the app, I tap on it but it just brings me to the main seedly community page instead of the exact post that the notification is about. Not sure why this is happening...

Expenses Tracking

Lifestyle

Shopping

Yong Kah Hwee
Yong Kah Hwee,
Level 6. Master
Answered 8h ago
Maplestory prepaid cards. Literally starved myself during secondary school and bought thousands of dollars worth of maplestory prepaid cards throughout the 4 years :(

Savings

Bank Account

Takingstock @
Takingstock @,
Level 4. Prodigy
Updated 30m ago
Two bank accounts, one 360, and one Frank, both with OCBC. All incomes and major transactions all go thru the 360, but there is no ATM access. I transfer my monthly allowance from 360 to the Frank on 26th of each monthly (feels like pay day!!). The Frank account is the only one that I can access with my atm card. 1) I love this arrangement because everytime I go to the atm, I see available balance and am reminded how much left there is and whether to tighten the belt a bit. 2) the giro deductions can easily clear from 360, with no insufficient balance and 10 charge for failed transaction. 3) easier for bank reconciliation and how where your monies is going mainly by reading the flows in 360, and not the miscellanous small charges. 4) better security I guess. Its rather tough to touch my money in the 360, without going thru online banking, and even if so, 80% of the funds are locked down in savings goals. I used to want different banks for the two accounts, but I didnt feel it was a necessity. Besides when I do my qtrly balance sheets, I just need to login one bank. Also I consider if I have two much money in the bank, some of it must be not working hard enough. Invest the rest I say.

Investments

Savings

Lifestyle

Vivien Lee Feng
Vivien Lee Feng,
Level 4. Prodigy
Answered 2w ago
- sacrifice grab ($20) and go for public transport ($2) - sacrifice atas coffee like starbucks (easily $5) nd go for kopitiam coffee ($1) - sacrifice movie ($12/ movie) and go for netflix ($7/ mth if shared between 2 person)

Investments

Stocks Discussion

Yes same rules apply when purchasing a foreign ETF. Just need to find a distributor platform that provides it. Do take note of the withholding tax like your equity investments. If they pay more dividends, you pay more tax, this is especially concerning for distributing bond funds.

Credit Card

Liam Lim Yu Zheng
Liam Lim Yu Zheng,
Level 3. Wonderkid
Updated 1d ago
I still hv referrals available (2claimed, 8 available)! Get S$10 free money after your first top up! Get the app and accept the invitation with this special link: https://youtrip.app.link/ZI%20YANG105989 When prompted to add in any optional promo code, Also use code ISHOPCHANGI5 for an extra $5!
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