*Official* Shiny Things club - Part 2

[FinalDestiny...]

Is there any update to Shiny's book?

Still IWDA, ES3, and SSB right?

Bought it back in 2017

The book got update? If got, how update?

Yup, there is an updated version of the book.
You can purchase it here.

 

[BBCWatcher]

I'm just wondering if you guys know of a medical that is likely to insure my mom for hospitalization coverage even though she has been rejected by the few major ones (prudential, ntuc, ge, axa etc.) for instance, how about sompo medilite?

Yes. Here are several options, including some fairly rare ones:

1. MediShield Life, plus a reasonable or better MediSave balance.

2. Potentially an expensive “expat-style” medical insurance policy. Pacific Prime in Singapore specializes in such policies and has an online comparison tool. Look specifically for a policy that includes coverage for pre-existing conditions. The premiums will be very high, are not guaranteed (and are likely to escalate rapidly), and cannot be paid from MediSave. (These policies are not Integrated Shield plans.) Many plans also offer good or better coverage outside Singapore although typically not in the United States without a substantial extra charge. Plans that cover pre-existing conditions probably will only do so after a waiting period.

3. Raffles Shield might accept her if she has one of a few pre-existing conditions that is well managed.

4. If she’s employed, or becomes employed, her employer might offer group medical insurance. That insurance would cover her pre-existing conditions. Coverage would end very soon after her employment ends.

5. Many other countries have medical systems that cover pre-existing conditions better than Singapore’s medical system does. For example, the country might have “guaranteed issue,” meaning that insurance carriers must issue policies to all applicants who pay premiums. (Such countries also have compulsory medical insurance requirements and medical insurance subsidies.) This approach is like MediShield Life (see above), although the benefits often are more comprehensive. The United States adopted this approach on January 1, 2014. (These rules are under fierce Republican Party attack at the moment, but the system is still clinging to life as I write this.) Other countries have generous public medical systems available to all residents, such as the United Kingdom and its National Health Service. If she were to emigrate to another country as a legal resident, she would be participating in whatever medical system that other country has.

Sompo’s MediLite policy is not really hospitalization insurance (and definitely not medical insurance), and it excludes pre-existing conditions even if accepted. Also, it’s not available if your mother has already celebrated her 60th birthday.

 

[sbladerz]

Yes. Here are several options, including some fairly rare ones:

1. MediShield Life, plus a reasonable or better MediSave balance.

2. Potentially an expensive “expat-style” medical insurance policy. Pacific Prime in Singapore specializes in such policies and has an online comparison tool. Look specifically for a policy that includes coverage for pre-existing conditions. The premiums will be very high, are not guaranteed (and are likely to escalate rapidly), and cannot be paid from MediSave. (These policies are not Integrated Shield plans.) Many plans also offer good or better coverage outside Singapore although typically not in the United States without a substantial extra charge. Plans that cover pre-existing conditions probably will only do so after a waiting period.

3. Raffles Shield might accept her if she has one of a few pre-existing conditions that is well managed.

4. If she’s employed, or becomes employed, her employer might offer group medical insurance. That insurance would cover her pre-existing conditions. Coverage would end very soon after her employment ends.

5. Many other countries have medical systems that cover pre-existing conditions better than Singapore’s medical system does. For example, the country might have “guaranteed issue,” meaning that insurance carriers must issue policies to all applicants who pay premiums. (Such countries also have compulsory medical insurance requirements and medical insurance subsidies.) This approach is like MediShield Life (see above), although the benefits often are more comprehensive. The United States adopted this approach on January 1, 2014. (These rules are under fierce Republican Party attack at the moment, but the system is still clinging to life as I write this.) Other countries have generous public medical systems available to all residents, such as the United Kingdom and its National Health Service. If she were to emigrate to another country as a legal resident, she would be participating in whatever medical system that other country has.

Sompo’s MediLite policy is not really hospitalization insurance (and definitely not medical insurance), and it excludes pre-existing conditions even if accepted. Also, it’s not available if your mother has already celebrated her 60th birthday.

Thank you very much for the reply. I took a look at pacficprime and came across cheap coverage by MSIG insurance. Just wondering if we may ever face claiming issues or rejections when the need arise against such "expat" insurance.

 

[unhinged_loon]

Is there any update to Shiny's book?

Still IWDA, ES3, and SSB right?

Bought it back in 2017

The book got update? If got, how update?

You can buy MBH if you want for exposure to SG corporate bonds.

 

[FinalDestiny...]

Hi all, one key point for the investment strategy mentioned here is buy whatever you’re short of each month.

Given that the market fluctuates, does that mean that I have to re-adjust the investment amount I set for POSB-Invest/IBKR saver every month if the market values deviate from the % ?

Also, if I already have SAF Aviva Group Term Life insurance, do I possibly need any other form of term life insurance ?

 

[BBCWatcher]

I took a look at pacficprime and came across cheap coverage by MSIG insurance. Just wondering if we may ever face claiming issues or rejections when the need arise against such "expat" insurance.

You have to check the policy language, but if it's cheap it's probably not very good. MSIG almost certainly doesn't cover pre-existing conditions in the particular plan you found.

 

[tangent314]

Given that the market fluctuates, does that mean that I have to re-adjust the investment amount I set for POSB-Invest/IBKR saver every month if the market values deviate from the % ?

Ideally yes, but it doesn't really hurt that much if you miss a couple of months then do a bigger correction every few months

 

[MultiSystemAtrophy]

2x ERS would be a good target for your parents to aim for as BBCW has mentioned. I think the priority first would be to ensure that your mother is able to reach the FRS before her 55th birthday. As BBCW has mentioned, this would be best done by topping up her SA, ideally by you and your siblings for $7k each for the tax reliefs. The rest can be done by your dad transferring his entire CPF OA+SA into her SA.

Only one person allowed to submit ic for one dependent top up for tax relief. So it's max 7k relief for that dependent per financial year (shared between 1 or multiple)

 

[BBCWatcher]

Only one person allowed to submit ic for one dependent top up for tax relief. So it's max 7k relief for that dependent per financial year (shared between 1 or multiple)

Where do you see that restriction?

 

[isaacsayshi]

i was hoping the 2019 book edition will be available in the Google Play store. i have some credits from doing surveys and wish to spend them. lol

 

[tangent314]

Only one person allowed to submit ic for one dependent top up for tax relief. So it's max 7k relief for that dependent per financial year (shared between 1 or multiple)

Nope, both my wife and myself were able to top up 7k to the same parent and get the full reliefs.

 

[qazamy]

Yup, there is an updated version of the book.
You can purchase ithere

I bought the book back in 2017 already, still need buy again for the update meh?

Posted from PCWX using POCOPHONE F1

 

[skywander]

I'm considering selling my SCB US shares and moving the USD to IBKR. Does the SCB no remittance fees offer apply to transfers out of the SCB USD settlement account? Or is it better to simply transfer the stocks over to IBKR.

 

[BBCWatcher]

Or is it better to simply transfer the stocks over to IBKR.

It's probably better to transfer the stocks in kind, but it depends on what you're holding. You'll have to compare the total sale and purchase commissions versus the transfer fee.

As a reminder, most U.S. securities, including U.S. stocks, are subject to U.S. taxes (dividend and estate).

 

[pmstudent]

I'm considering selling my SCB US shares and moving the USD to IBKR. Does the SCB no remittance fees offer apply to transfers out of the SCB USD settlement account? Or is it better to simply transfer the stocks over to IBKR.

What is the reason of your transfer? The only valid reason I can think of, is to meet your 100K USD account value to remove minimum monthly activity fee.

But if you already DCA monthly to the amount that justify the $10 fee, then I don't see a reason to incur the transfer fee. SCB doesn't charge custody fee anyway.

 

[tangent314]

One reason: If you are planning to sellf, it becomes cheaper (above about $10k) to transfer before selling to for better FX rates when converting the USD back to SGD.

 

[pmstudent]

One reason: If you are planning to sellf, it becomes cheaper (above about $10k) to transfer before selling to for better FX rates when converting the USD back to SGD.

That's a nice one, didn't think of that, probably I only buy.

 

[wannabelazy]

Hi all, I currently DCA into IWDA using IBKR and ES3 using SCB.

If I have a sum of money that I want to put towards buying a car in 8 year's time, what's the best way to invest it now? The time horizon seems neither here nor there to me.

1. Buy SSB and reinvest the interest payments, redeem after 8 years
2. Buy MBH and reinvest the interest payments, sell after 8 years
3. Buy IWDA and sell the stake after 8 years

Any thoughts appreciated. Thanks!

 

[Han Shot First]

Any opinion about ARA US Hospitality Property Trust? The IPO opened recently.

What would those investors on this thread who think that REITs should be part of their investment portfolio plan to do for this security?

 

[BBCWatcher]

If I have a sum of money that I want to put towards buying a car in 8 year's time, what's the best way to invest it now? The time horizon seems neither here nor there to me.

1. Buy SSB and reinvest the interest payments, redeem after 8 years

That works, but try not to let this objective interfere with your long-term investment program.

Any opinion about ARA US Hospitality Property Trust? The IPO opened recently.

What would those investors on this thread who think that REITs should be part of their investment portfolio plan to do for this security?

You wouldn’t do anything with a single REIT at all. If you want to invest in REITs then do it via a low cost global REIT index fund.