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Seedly

Question Poster For the most part, the onus is on the question poster to treat Seedly as a platform for general direction. Thereupon, he should conduct further research on the subject to ensure accuracy. Answerer Next, we can look at the details of the answerer. This begins with his profile, credentials, links to social media, number of questions answered, upvotes etc. Furthermore, check whether the answer is in line with the question. Moderator While it is difficult to ascertain how hardworking the moderators are working behind the scene, I do know that they are present to moderate some of these questions and answers. Moreoever, they have introduced the flagging system to help improve the quality process. While all these are not the best, this is why the responsibility remains at the question poster himself. Here is everything about me and what I do best.

Investments

Savings

Zann Chua
Zann Chua
Level 6. Master
Answered on 09 Apr 2019
Hello! This is a good question as im sure that many people here are probably wondering the same thing! Here is my personal take on this! Here is a brief overview of the difference between SSB and ETF taken from one of the seedly blog post. ! I personally would prefer to invest in ETF as comapred to SSB since the returns are likely to be higher as seen from the table above. Also, since you are still young, you can still afford to take risks. Therefore, even though the risk of ETF is likely to be higher, you should still take this risk since you are still young. As seen from the table, if you are looking at investing it would be better to invest in ETF since SSB is used to achieve savings goals rather than investing goals. Hope this helps!
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Retirement

Investments

Hi Frankie, it's definitely never too late to start investing. But before going straight into 'what to buy', you may want to do some retirement planning. Having a road map and clear goals to be met will help you choose what kind of risk you can take and thus, what kind of returns you need to achieve to hit your goals. If you don't have this, you won't know how much to buy for how long, and what is good. Now that you're reaching the retirement age soon, other than just growing your capital, you will need to start looking at capital protection, and building guaranteed streams of income that pays you after you stop working. This means adding some bonds into your portfolio, looking at annuities to complement your CPF Life, topping up CPF, etc. All these are also equally important investments you need to make to have a holistic approach to reaching your retirement goals. You may want to sit with your financial advisor to do this with you. :)

Insurance

Credit Card

Payments

Savings

SG Budget Babe

Background Firstly, it will be good to go back to the basics by understanding what is a participating endowment policy. Generally, it consists of basic insurance coverage, together with cash value from the participating fund. Participating Cash Value Now, to answer your question, it is important to understand how a participating fund works: https://www.blog.pzl.sg/what-is-a-participating-fund-singapore/ For the most part, it is important to understand the investment allocation made by the participating fund. For instance, one company may place greater emphasis on equities in order to give policyholders the same rate of return as compared to another insurance company that placed greater emphasis on bonds. As a result, most of us prefer a more conserversative route since it is unnecessary to take additional risk than required for the same return (to policyholders). Furthermore, this leads to higher expenses which will indirectly affect the policyholders (explanation in my post on participating fund). Next, we will find out how we get our cash value in return through declared bonuses: https://www.blog.pzl.sg/reversionary-bonus-and-terminal-bonus-singapore/ Some of the insurance plans adopt the concept of smoothing of bonuses in order to give the same rate of returns to the policyholder. Here is how it works: https://www.blog.pzl.sg/smoothing-of-bonuses-singapore/ After an introduction to the participating fund, it is always good to consider insurance companies with proven track records. For example, here is the latest result from AIA: https://www.blog.pzl.sg/aia-singapore-participating-fund-update-2018/ So how? All in all, I have highlighted some of the key points to look out for when choosing a good participating endowment policy that is capable of providing a stable rate of return over time. On balance, track records is one of the best thing to look out for since the future will always be uncertain. Here is everything about me and what I do best.

Investments

Financial Planners

AS
Andy Sim
Level 5. Genius
Answered 11m ago
You can try Robo advisors with no min amount to start with (Stashaway), Singapore savings bonds or fixed deposits

Investments

R
RM
Level 6. Master
Answered 11m ago
There are many considerations when it comes to investment. What is your investment horizon? What happens if you have a paper loss? You also mentioned that there is a 'chance' that the full impact will start hitting in 3 to 6 months time. What is most important now is that you identify the stocks that you are interested in and do your due diligence and analyze the stocks to see if it would be a good investment. As long as it is a good investment, time is not really a factor as we should not time the market.

Investments

Securities

Stocks Discussion

You should not time the market. You will need to do fundamental analysis to understand if your stock is worth buying. Then if the price lower than your projected value, it is time to buy. What you can do for recession is to build a all weather portfolio to cushion your loss. You will want to avoid selling your stocks. Have some money to act as warchest (your emergency fund is accounted to last your recession period)

Income Tax

Savings

AS
Andy Sim
Level 5. Genius
Answered 17m ago
Yep, IRAS will only assess your taxable income, deductions and reliefs in 2021,for the year 2020

Career

HC Tang
HC Tang, Financial Enthusiast, Budgeting at The Society
Level 8. Wizard
Updated on 21 Nov 2018
Doing full accounts means you'll need Degree in Accouting or CPA or ACCA which takes times / $ and may not pass at 1 go. Instead of Accounting, shoul focus on IT accounting software consultancy etc since you have the background. Fastest way ? Advertise yourself for freelance services or even community services for charitable organizations in helping the company when they try to buy new accounting software / migrated existing accounts. Gaining experience and add on to your portfolio is fastest way to gain grounds on Accounting / IT. Note: The future is on FinTech (IT + Finance + Accounts), do join startup networking events, FinTech talks / conference to find out more and talk to the people to get more opportunities by networking!
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