*Official* Shiny Things club - Part 2

[Joseph99]

Guys, can correct me if i am missing something, but if im going to DCA the STI ETF, wouldn't it make sense to do so through contributing to my SRS and then using the SRS to buy STI ETF, probably through OCBC BCIP/POSB Invest saver?

I double dip on the tax savings and the performance of the fund. That's like having a guaranteed 7% (from tax for me. if your income is higher it's higher) and non guaranteed roughly 5-8% (based on past performance).

Am i missing something? Seems like a really good strat

can use SRS for OCBC BCIP/POSB Invest saver ? i thought only cash ?

 

[Shiny Things]

Anyone here have experiences with gold bullions in Singapore ?

Which are the most trusted vaults around ?

People who buy physical gold are suckers. Just buy GLDM US.

IBKR is in the midst of opening a Singapore office .
Woohoo

So, this. Wow there’s been a lot of noise, but all I’ve actually seen is one guy saying “Oh I found their Singapore entity on ACRA” which is not really surprising, and also one guy saying his friend said etc etc etc.

How about we wait until they actually announce something?

]I calculated my 6 months of expenses as emergency funds. It is less than 10k.

Do you mean in my day to day spending account,

You’re missing the point of an emergency fund. The point is not to squeeze out every last basis point of interest; the point is to have an account that you won’t touch normally, but that you can get to at-call. Just open any bank account. In your case, because your fund isn’t huge, literally any bank account will do.

Question:

For lump sum investment eg. $5000, which brokers to use?

Same as you’d use for your regular monthly investments. Also, maybe switch to decaf? You don’t need to get everything done in one night (and you certainly don’t need to freak out about literally every single step in the application process. Just go down to the Stanchart branch!)

Some questions for IB

1)If I start an account and transfer usd 100k over but do not purchase anything yet, the monthly charge will start charging ?

2)If I transfer usd 100k over and I continue to buy 4K worth of idwa a month, will my account also be slap with the monthly charge until I have 100k usd invested totally?

No, and no. All that matters is that you have USD 100k in your account, whether that’s in the form of stocks, bonds, cash, whatever.

 

[flowerpalms]

Most people here must be investing at least 1k per month. All using IB....not MBKE

 

[BBCWatcher]

People who buy physical gold are suckers. Just buy GLDM US.

How about gold options/futures if you want to patronize the Au Dog Track?

Wow there’s been a lot of noise, but all I’ve actually seen is one guy saying “Oh I found their Singapore entity on ACRA” which is not really surprising, and also one guy saying his friend said etc etc etc.

How about we wait until they actually announce something?

Amen. Tons of corporations buy a nameplate from ACRA then never do much with it.

You’re missing the point of an emergency fund. The point is not to squeeze out every last basis point of interest; the point is to have an account that you won’t touch normally, but that you can get to at-call. Just open any bank account. In your case, because your fund isn’t huge, literally any bank account will do.

Although it's perfectly OK to earn more rather than less interest if you don't have to twist yourself into a pretzel to do it. For example, the CIMB suggestion is a good one.

All that matters is that you have USD 100k in your account, whether that’s in the form of stocks, bonds, cash, whatever.

U.S. estate taxability is a potential consideration. For example, a non-U.S. decedent's estate with US$100K worth of cash (in any currencies) sitting at IB would be subject to some U.S. estate tax.

 

[OCBC Bank]

can use SRS for OCBC BCIP/POSB Invest saver ? i thought only cash ?

Hi Joseph99,

Customers may invest in BCIP using cash or SRS.

You may refer to the FAQs for more details: https://www.ocbc.com/personal-banking/investments/bcip-faqs.pdf

^CC

 

[mafan87]

Don't you need the online banking account to access the trading platform in Scb?

Without online banking account, how to invest in the es3?

No need. Can transfer straight to SGD securities account. Likewise for investing in IWDA. Transfer to SGD securities account den transfer from SGD securities to USD securities account in SCB.

 

[kennethtbh]

No need. Can transfer straight to SGD securities account. Likewise for investing in IWDA. Transfer to SGD securities account den transfer from SGD securities to USD securities account in SCB.

U tried to transfer direct? I was told by scb RM that it was not possible, hence need to open an e$aver account. Have not tried transferring direct yet.

Assuming possible, then next thought is if possible to transfer to the USD securities account direct if u have funds in another bank's USD account.

 

[morsematten]

Hey ST and senior forumers here,

Was scrolling through over 400 pages & got the ebook (good read btw).

I don't need any complex strategy - simplicity & not overthinking is the best for me. I also agree with the concept of DCA & having the discipline to buy in regardless of market condition.

I will really appreciate if you guys can comment on my overall portfolio strategy and if it makes sense. Any helpful comments (friendly or harsh) are greatly appreciated.

I am 29 this year and my investment horizon is roughly another 20-30 years. I currently have S$1500/month (less expenses & savings) for DCA and would like to do the following:

1. S$1k into IWDA via IB every month
2. S$500 into G3B via POSB IS every month
3. ~S$900 savings into high interest rate savings account (~2% p.a) for the bond component. I am looking to get a house within the next 2 years and would prefer to have the added liquidity.

As my salary increases (over time I hope), I will increase the DCA components accordingly, and may looking into adding EIMI into the mix.

Currently I have ~S$48k in local SSB & blue chips, which I'm planning to keep. I also have ~S$70k cash in high interest saving accounts. I am also currently on DCA for StashAway (S$300/m) but I am convinced from reading this thread & ST's book that I should stop. Hence, I will be redeeming everything once I start the DCA strategy as above.

Any comments & advice are greatly appreciated. Thanks!

 

[flowerpalms]

Dropped by scb@jp just now 30 mins b4 the branch closes

Setups for esaver, trading account (US&SG) , online banking account done and dusted

 

[Converged]

Dropped by scb@jp just now 30 mins b4 the branch closes

Setups for esaver, trading account (US&SG) , online banking account done and dusted

Is a scb bank acc needed to set up a scb trading account?

Sent from Area 51 using GAGT

 

[flowerpalms]

According to the pple here who advised me, you need a esaver account to transfer funds to your US and SG trading accounts. The online bank account is auto set up for you. Atm card not required

Is a scb bank acc needed to set up a scb trading account?

Sent from Area 51 using GAGT

 

[mafan87]

U tried to transfer direct? I was told by scb RM that it was not possible, hence need to open an e$aver account. Have not tried transferring direct yet.

Assuming possible, then next thought is if possible to transfer to the USD securities account direct if u have funds in another bank's USD account.

Yes tested proven. I was told the same as well. I closed off my esaver to make better use of the $1000.

 

[mafan87]

U tried to transfer direct? I was told by scb RM that it was not possible, hence need to open an e$aver account. Have not tried transferring direct yet.

Assuming possible, then next thought is if possible to transfer to the USD securities account direct if u have funds in another bank's USD account.

U can try to transfer SGD $1. USD I'm not sure though as I'm using IBKR now.

 

[mafan87]

Yes tested proven. I was told the same as well. I closed off my esaver to make better use of the $1000.

But do take note that if u want to transfer from securities account in SCB to ur other bank account, u still need a Esaver account but for other bank account to SGD securities, no need.

 

[Converged]

According to the pple here who advised me, you need a esaver account to transfer funds to your US and SG trading accounts. The online bank account is auto set up for you. Atm card not required

So am i right to say that only need to set up an esaver acc and the trading acc?

Sent from Area 51 using GAGT

 

[flowerpalms]

Yea correct. Head to the scb branch to do the paperwork.

The online banking account they will auto sign up for you. They will guide you to download the mobile app and set your pin number. Similar to posb ibanking

So am i right to say that only need to set up an esaver acc and the trading acc?

Sent from Area 51 using GAGT

 

[hwckhs]

Setups for esaver, trading account (US&SG) , online banking account done and dusted

I believe you meant USD & SGD securities settlement accounts.

The more important thing is, did you enable trading on LSE? I hope you did.

 

[ftpofmpo]

is it still recommended to invest in mbh with the interest rate cuts?

mbh seems very stable, can we replace ssb with mbh since ssb yields are too low

 

[flowerpalms]

Enable trading on londonse? I have not got the account details yet. Scb will mail to me in 2 weeks...

So for scb i only habr esaver now where i need to deposit min. 1k

Update: esaver check
Scb trading accounts: pending for username and password mail to me in 2 weeks

IB account check

Maybank account pending approval. All documents submitted and $1 bill paid to mke

I believe you meant USD & SGD securities settlement accounts.

The more important thing is, did you enable trading on LSE? I hope you did.

 

[flowerpalms]

I ticked both SG and US markets....

There is nth mention abt LSE in the form that i need to tick.
Only in the end of the form it wrote this

When you set up trading account, you need to choose which exchange/country you want to trade in. If you want to trade in Sg tick for it tick, if you want to trade in US tick for it, if you want to have IWDA and/or EIMI listed in LSE, tick for it, and so forth.

IWDA is traded in USD, so you need to have a account with USD settlement, but having this account does not warrant you to trade in LSE if you not select it.

My SCB online allows me to access trading platform directly. It took few days for the trading and various settlement account to appear in in my SCB online.