*Official* Shiny Things club - Part 2

[limster]

then just rephrase. Instead of saying "follow Shiny Things", just say
"read Shiny Things' Book. If you agree with it, follow."

 

[havetheveryfun]

Finance and investment is all abt numbers and everyone shld understand the math behind it and not follow advice blindly

I hate to use this word but this is really 1 of the most stupid sentences I've seen. Sadly, the substance of this sentence is symptomatic of Sinkies where ppl just want to show how much more substance they have compared to others.

Finance and investment is definitely not all about numbers . Emotions, temperament, being able to stick to the plan in both good and bad times and many other factors may sometimes even be more important than numbers.

 

[thegreatjedi]

Hi guys, how are you doing? First off, a big thank you to Shiny Things, his book has been a great help back when I bought it last year. I've been working since 2016 but hadn't really found a footing and direction to start properly managing my finances until I bought that book, at least when it comes to the investment part. However, I don't really follow the forums nor local news much, and recently I finally have some free time to get my personal affairs in order for the first time since CNY =(

Anyway, I was hoping if someone is kind enough to enlighten me on whether there's anything new and important I should catch up on? It's been over 1.5 years since I bought and read the book, and with the way the world went down over the past year, I'm wondering if any of the advice in the book has lost relevance and no longer applies? Or if there's anything new to add to the pile now.

Also, I do have a specific question in mind. When it comes to insurance, the book advised to buy a hospitalisation plan to supplement the government's basic Medishield Life scheme. I tried to buy one, but due to my pre-existing condition all of the insurers I've gone to (AIA, AVIVA, AXA, Prudential, GE etc.) have rejected my application (my condition isn't life-threatening, it's pretty mild in my case and doesn't surface at all as long as I'm on medication, but nonetheless it's pretty much lifelong). So it seems a hospitalisation plan is out of the question here. What can I do to compensate for it?

Thanks for answering!

 

[dullthings]

To everyone.... With regards to the 110-age rule, how do you adjust or moderate it according to the number of dependents and/or other liabilities you may have?

 

[flowerpalms]

For the insurance part, you may want to check out:
https://www.moneyline.sg/what-insurance-options-are-there-if-i-have-a-pre-existing-condition/

Hi guys, how are you doing? First off, a big thank you to Shiny Things, his book has been a great help back when I bought it last year. I've been working since 2016 but hadn't really found a footing and direction to start properly managing my finances until I bought that book, at least when it comes to the investment part. However, I don't really follow the forums nor local news much, and recently I finally have some free time to get my personal affairs in order for the first time since CNY =(

Anyway, I was hoping if someone is kind enough to enlighten me on whether there's anything new and important I should catch up on? It's been over 1.5 years since I bought and read the book, and with the way the world went down over the past year, I'm wondering if any of the advice in the book has lost relevance and no longer applies? Or if there's anything new to add to the pile now.

Also, I do have a specific question in mind. When it comes to insurance, the book advised to buy a hospitalisation plan to supplement the government's basic Medishield Life scheme. I tried to buy one, but due to my pre-existing condition all of the insurers I've gone to (AIA, AVIVA, AXA, Prudential, GE etc.) have rejected my application (my condition isn't life-threatening, it's pretty mild in my case and doesn't surface at all as long as I'm on medication, but nonetheless it's pretty much lifelong). So it seems a hospitalisation plan is out of the question here. What can I do to compensate for it?

Thanks for answering!

 

[flowerpalms]

Neither.

110-age

To everyone.... With regards to the 110-age rule, how do you adjust or moderate it according to the number of dependents and/or other liabilities you may have?

 

[InvestingDummy]

Hi all,

I've read the summary on the insurance portion - What Hospitalisation plans would you guys recommend among the Integrated shield plans?

Also, is CI equally important as hospitalisation, or should I be prioritising the latter first?


Thanks!

 

[tesarise]

To everyone.... With regards to the 110-age rule, how do you adjust or moderate it according to the number of dependents and/or other liabilities you may have?

110-age is just a guideline and can be tweaked according to your risk appetite and how much portfolio drawdown you are comfortable with.

Having dependents and liabilities shouldn't really affect your investment asset allocation. However, you should adjust your 6 month emergency fund upwards to account for them.

but again, it is just a guideline. if you are not comfortable with the equities exposure of 110-age, adjust it until you are.

 

[flowerpalms]

Definitely the priority is hospitalisation plan.

But doubt we can recommend you. It depends on ur needs and requirements eg. Limits, level of coverage...

For me i didnt get CI. i have a standard hospitalisation plan + DII. Both are under GE.

IRONICALLY, as much as i like the book, this is something i didn't follow shiny when he says having the Medishield is good enough.

But note the following by shiny:

Term life if you have dependents
Standard hospitalisation plan otherwise

Hi all,

I've read the summary on the insurance portion - What Hospitalisation plans would you guys recommend among the Integrated shield plans?

Also, is CI equally important as hospitalisation, or should I be prioritising the latter first?


Thanks!

 

[little pupsky]

Geez, did you even take a moment to consider the nuances of his/her question?? Your black and white replies are damn annoying.

Neither.

110-age

 

[dullthings]

Thank you.

110-age is just a guideline and can be tweaked according to your risk appetite and how much portfolio drawdown you are comfortable with.

Having dependents and liabilities shouldn't really affect your investment asset allocation. However, you should adjust your 6 month emergency fund upwards to account for them.

but again, it is just a guideline. if you are not comfortable with the equities exposure of 110-age, adjust it until you are.

 

[BBCWatcher]

Definitely the priority is hospitalisation plan.

I think DII is an even higher priority, actually.

But doubt we can recommend you. It depends on ur needs and requirements eg. Limits, level of coverage...

Well, I think it's very fair to say that anything more expensive than an Integrated Shield plan designed to cover public hospital B1 ward is above and beyond an insurance necessity. You may or may not buy luxuries, but (if you're prudent) you won't buy any luxuries unless you can genuinely afford them and you've covered all necessities first. I also think it's entirely fair to point out that MediShield Life is grossly inadequate for PRs.

We can also say what the currently best public hospital B1 ward Integrated Shield plans are: Great Eastern's SupremeHealth B Plus for citizens and either NTUC's or Aviva's "as charged" B1 ward plan for PRs.

Travel medical insurance (with medical evacuation and medical repatriation coverage) could very well be an insurance necessity for those who venture outside Singapore. MediShield Life doesn't provide any coverage outside Singapore, and Integrated Shield plans provide rather poor coverage outside Singapore.

 

[powerfulhorse]

Vanguard S&P 500 ETF

Good morning all,

I am a total noob at US markets but I have been trading Singapore Reits on POEMS for some time now. I'd like to have some exposure to the US markets and hence I'd like to invest in the Vanguard S&P 500 ETF.

May I ask what do I need to do or what steps do i need to take to invest in the Vanguard S&P 500 ETF?

I have a SCB account already (correct me if I am wrong - the best or rather cheapest platform to invest in the Vanguard S&P 500 is via SCB?). So do I simply go in to SCB branch and tell them I want to buy that particular ETF?

Also, I note that one shouldn't buy it from the NYSE as there are foreign-tax. Instead, one should buy the ETF from the LSE.

Any help and replies are greatly appreciated!

 

[pixelspics]

Question on retiring in less-developed markets

Hi ST,

In your book you mentioned for persons retiring in less-developed markets,
generally you recommend split between "global stocks" and "global bonds",
with no USD component because during currency crises, value of local investment will hurt.

Newbie questions are:

1. does it mean you should buy "global stocks" and "global bonds" using
currencies other than USD?

2. if my understanding of item 1 is correct, isn't it during currency crises,
USD value will be stronger against your local currency in less
developed market? Why we need to avoid USD component?


Thanks in advance for for the time to reply.

 

[cassowary18]

Aw man, Citibank Maxigain was the best of a bad bunch for those high-interest savings accounts. Is there anything good out there now?

If you're under 26 years old, go open the SCB Jumpstart account asap. 2% interest per annum without needing to jump through hoops is the best deal you have. And the interest stays the same even after you turn 26 (well, at least until SCB decides to change the T&C)

For most people, if you're drawing a regular monthly paycheck, DBS Multiplier isn't that bad. Yes, they require you to jump through hoops to get higher interest rates, but these aren't hard to fulfill.

For the investment criteria, POSB Invest Saver RSP started after the account opens counts for 12 months after it first starts. To circumvent this shortcoming, I'm currently building a SSB bond ladder where I buy the bare minimum for SSB ($500) for 6 consecutive months. Then, the coupon payments coming in from the SSB (which are now monthly) counts towards the investment criteria.

For the credit card criteria, I really like that there's no minimum spend required to fulfill the criteria, unlike UOB One and OCBC 360 which require $500 monthly spend. So all you've got to do is to spend on something on your credit card per month - it can be as simple as using your credit card for public transportation.

Do all that and you're looking at at least 2% interest per annum.

 

[raidorz]

If IBKR opens an office in Singapore and allows trading of Singapore stocks, is it advisable to transfer my holdings from CDP to IBKR to quickly hit the usd100k to waive activity fees?

 

[kram62]

If IBKR opens an office in Singapore and allows trading of Singapore stocks, is it advisable to transfer my holdings from CDP to IBKR to quickly hit the usd100k to waive activity fees?

That's a lot of ifs. Just wait until there is something concrete. No need to speculate for nothing.

 

[spadestick]

I've come to my monthly purchase, this is the 2nd time I'm placing an order of IWDA. Then comes this status on SCB = PR = Pending Risk Check. What does that mean?? I already have shares in IWDA, so I don't understand. Any comment welcomed

 

[spadestick]

never mind... i guess it's nothing - it's just been filled.

 

[AzureFlux]

I think you’ve got some dud data there? They’re both off about a quarter to a half of a percent over the last two days, though VWRA has traded a lot less than IWDA.

Separately, I’m noting that VWRA is trading about 0.1% wide, while IWDA’s trading 0.01% wide. That’s a pretty good reason to stick with IWDA, TBH.

Hi Shiny et al

Given that a typical ETF investor will be holding on to their stocks for the long term, does the bid-ask spread difference really make a huge difference to returns? I thought that the spread would be a greater concern for someone who trades ETFs frequently.