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26-12-2016, 10:00 AM
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Quote:
Originally Posted by Unregistered
In this volatile market of ours, , cash is king.
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Do you even know what that means?
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09-01-2017, 11:13 AM
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Age: 22
Cash: $15k
Savings Account: $31k(0.4% p.a. Interest)
Precious Metals: $2k
Am thinking of how to invest my money more effectively that can generate much better returns. Any Advice?
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10-01-2017, 08:43 PM
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Quote:
Originally Posted by Unregistered
Age: 22
Cash: $15k
Savings Account: $31k(0.4% p.a. Interest)
Precious Metals: $2k
Am thinking of how to invest my money more effectively that can generate much better returns. Any Advice?
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Dump the precious metals. Every month, buy $1000 sti etf for the next 30 years. Soon you will be collecting steady dividends on a permanent basis.
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16-01-2017, 05:21 PM
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Quote:
Originally Posted by Unregistered
Dump the precious metals. Every month, buy $1000 sti etf for the next 30 years. Soon you will be collecting steady dividends on a permanent basis.
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How do I go about buying the STI ETF? Have 0 clue in investments
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26-01-2017, 07:15 PM
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broadwaycote
Quote:
Originally Posted by Unregistered
How do I go about buying the STI ETF? Have 0 clue in investments
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Go look at US closed ended funds. If you want a steady dividend. STI ETF is **** compared to that.
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06-02-2017, 04:48 PM
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Advice needed
I am currently 27 years old graduate working in a government agency and earning annual take home income of 38k including bouses. Had been working in my 3rd year. Current cash savings/on hand available is about 37k. No other assets except a small amount in the stocks (about 1k, just beginning to invest)
I work with a budget and fixed spending for necessities of about 1000 to 1200 a month (food, transport, insurance and giving parents money). My budget for annual spending is about 20,000 including in total. Which left me about 6000 to 8000 for any other things such as medical fees, overseas trip, friends wedding angbao, presents for gf, some family expenses, buying of necessary clothes, shoe etc.
My aim is to consistently save half the amount i left after deducting my above expenses and invest the other half every year. For this year it will mean spending 20k, save 9k and invest 9k (for a total of 38k that i earn).
My main worry here is about my parents as they do not have much savings due to some complicated family circumstances which I will not want to elaborate here. In summary:
Mother: no significant CPF (maybe about 10k or so in total OA,MA,SA from working previously before becoming housewife). Currently only getting $200 a month (excluding my contributions) from a shared job.
Father: Currently working in a 2 jobs and only getting $1800 per month take home. However, he does not have much savings per month as he pay for the utilities, phone bills, groceries and also take care of my grandparents and their medical fees. Think the amount of money he left per month is only about 2 to $300. CPF only about $20k maximum and his medisave is almost used up by my grandparents.
I have a younger brother who is still studying in uni and will only graduate in 2 years time. A younger sister who is still studying and graduating next year (diploma).
My parents have insurance for the basic items such as medical and they also bought insurance for us to pay for our education. Luckily because of this arrangement, I do not need to pay study loan.
I''m worried about my parent's retirement as now they are almost living end to end. I could not contribute more as I would want to build up savings myself and preparing to get a flat and get married in about 3 years time. Currently, we are still able to get by and i feel that giving my parents more money wont help matters in the long run.
I am living a very simple and frugal lifestyle (almost always eating at hawker centres, food courts, cooking at home, taking only MRT, rarely take taxi, never buy any luxury goods etc)
Just need some advice here on how to plan forward for my parent's retirement so that there is a sum of money that they can use when they could not work anymore. Thanks in advance!
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06-02-2017, 07:18 PM
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Super Member
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Join Date: Aug 2010
Posts: 335
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I think it is good you are concerned for your parents retirement and want to help them out. This is a step in the right direction. I also sense you are seeing a dilemma of "investing" your money now so as to get a bigger payout for your parents future. So let me offer a BIG tip that i applied to myself .
If you want to combine "investing" and giving to your parents , do voluntary cash contribution to THEIR CPF. This will help achieve good returns of 4% (and more since they are below the min sum and will earn extra 1%)
The 4-5% savings interest rate is really fair in this low interest rate environment. And because you contribute, you get income tax relief as well !
By putting in their CPF, it also prevent "frivolous" spending as they have to meet CPF withdrawal requirements ie beyond 55 etc.
Of course, your parents may disagree- because cash at hand is better and they may have negative sentiments about government etc,
One thing here you must watch, i note your mom has no CPF, so whatever she has will go into the purchase of CPF life. CPF life is essentially what you wish to give her as it means getting an monthly sum in exchange for the lump sum. Do more research and calculations to plan so that she can meet the basic retirement sum (ideally)
i recommend reading this blog as well to get the idea .
A Singaporean Stocks Investor (ASSI)
2. After you do all the research on the above point, i like you consider giving a small cash amount (maybe start small say $10 per week) to your parents.
This gesture while small , will mean a lot to your parents. (while the bigger payout starts to grow)
3. In terms of considering other forms of investing for your parents, i will say dont bother. Just do the CPF. Cos their time is short, and there is no guarantee of success. You can do the other forms of investing for your own retirement and take the risk as it comes. If it works, good for you. If it doesnt, at least you dont face additional stress for providing for your parents
All the best, and wish you success.
Quote:
Originally Posted by Unregistered
Currently, we are still able to get by and i feel that giving my parents more money wont help matters in the long run.
I am living a very simple and frugal lifestyle (almost always eating at hawker centres, food courts, cooking at home, taking only MRT, rarely take taxi, never buy any luxury goods etc)
Just need some advice here on how to plan forward for my parent's retirement so that there is a sum of money that they can use when they could not work anymore. Thanks in advance!
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14-02-2017, 01:45 PM
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28 Years Old - Into my fourth year of working... Luckily I got a good job thru connection and the salary of my first job was higher than most of my peers (not invest banking and definitely not in the range of above $8k)..hope a few good jobs with substantial increment...
now have about $100k cash (let's not talk about cpf) after paying roughly $60k cash down payment for a humble conti car.. $100k cash is definitely not much if compare to IB, lawyers, docs or full time stock traders who can make $100k in a single year, getting married next year...but i think i can live comfortably at the moment before i have kids..
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14-02-2017, 11:55 PM
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Hi all, any advice here... Single, currently making ~$140k, mortgage on condo $1mio, value of condo $1.8mio, cash ~$1mio, car fully paid. No other investments. What would you suggest is a good next step in handling my savings? Pay off most (or all) of mortgage? I would like to keep the apartment, considering paying off mortgage up to the point where monthly mortgage is from cpf with no cash outlay (preference to max out cpf). Thoughts? Thanks!
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