$500 per month possible?

[Burpies89]

Hi all

Im a newbie would like to start investing with certain criteria in mind but not sure is it possible or not.

1) monthly investment of max $500
2) dont want those like share builders plan from phillips securities
3) invest in index fund/etf
4) from dbs vickers if possible, up for suggestions
5) would like to diversify (sti etf, US index and bonds)
6) no, im not to purchase everything is one go, just one step at a time. Maybe from sti etf first?
7) no mutual fund. Just index.

Need some advices from the the pros here.

 

[Dividends Warrior]

Hi all

Im a newbie would like to start investing with certain criteria in mind but not sure is it possible or not.

1) monthly investment of max $500

3) invest in index fund/etf
4) from dbs vickers if possible, up for suggestions

6) no, im not to purchase everything is one go, just one step at a time. Maybe from sti etf first?
7) no mutual fund. Just index.

Need some advices from the the pros here.

POSB Invest-saver.

 

[makav31i]

OCBC BCIP is having promotion of 0.3% fees with no minimum till June this year...After that the fees is the higher of 0.3% or $5...POSB Invest Saver charging flat 1%... $5 of $500 is 1%...so might as well go with OCBC BCIP as you can transfer the holdings to your own CDP account which you can't with POSB Invest Saver...

 

[Bedokian]

From TS' point (2), if he/she is averse to such schemes, I guess BCIP and Invest-Saver may not be in for him, too. Furthermore TS is opening up to foreign markets and ETFs, which further discount him from the mentioned schemes.

My take would be for TS to start with SC's trading platform. Of course it is recommended to open up a few local brokerage accounts, after all they are free to maintain.

 

[sannoh]

how does blue chip works? does it pay the dividens every month or year? mind elaborate?

 

[Dividends Warrior]

how does blue chip works? does it pay the dividens every month or year? mind elaborate?

It depends on the company.

Singtel and M1 pay twice a year.

Starhub pays 4 times per year.

 

[Burpies89]

OCBC BCIP is having promotion of 0.3% fees with no minimum till June this year...After that the fees is the higher of 0.3% or $5...POSB Invest Saver charging flat 1%... $5 of $500 is 1%...so might as well go with OCBC BCIP as you can transfer the holdings to your own CDP account which you can't with POSB Invest Saver...

As i look through the ocbc website, it stated to transfer to CDP account its chargeable at about $10+.

So it means i can just let ocbc to hold my funds or chose to transfer my fund to cdp acct, am i right?

If so, may i know whats the difference? Which is better? Noob here.

 

[makav31i]

As i look through the ocbc website, it stated to transfer to CDP account its chargeable at about $10+.

So it means i can just let ocbc to hold my funds or chose to transfer my fund to cdp acct, am i right?

If so, may i know whats the difference? Which is better? Noob here.

Yup, you can let OCBC hold your shares of the stocks or you can transfer to your own CDP account for $10.70 per counter...

Some prefer to put in CDP as you can choose which stockbroking firm to use when it comes to selling...If not, OCBC would be the custodian holder of your shares...

 

[Burpies89]

Yup, you can let OCBC hold your shares of the stocks or you can transfer to your own CDP account for $10.70 per counter...

Some prefer to put in CDP as you can choose which stockbroking firm to use when it comes to selling...If not, OCBC would be the custodian holder of your shares...

Ok i understand that. Ive read a post somewhere with regards to sti etf. Its says something like " min purchase is 100shares, which is about $3k plus per lot. And need to open a CDP account and buy from SGX."

Does this mean that if i open an account from OCBC, let say i buy monthly about $500, and about 6 months, i put my shares to CDP account so that i can sell it since min of 1 lot is needed? Im quite confuse here.

 

[kakaboo]

Ok i understand that. Ive read a post somewhere with regards to sti etf. Its says something like " min purchase is 100shares, which is about $3k plus per lot. And need to open a CDP account and buy from SGX."

Does this mean that if i open an account from OCBC, let say i buy monthly about $500, and about 6 months, i put my shares to CDP account so that i can sell it since min of 1 lot is needed? Im quite confuse here.

this the advantage of these kind of accounts, you don't have to buy in the minimum no. of lots dictated. for instance if starhub is $3 and you put in $100 every month, then you can get around 30-33 shares(after commission) of starhub, whereas if you buy through sgx yourself you have to buy the minimum amount that the share is being traded at (maybe 100 shares at once or 1000)

as for sti etf, you cannot buy it through ocbc, only nikko am sti etf is available.

im sure you can find the rest of the answers you need in the compiled OCBC BCIP thread or their sales page/faq

 

[Burpies89]

this the advantage of these kind of accounts, you don't have to buy in the minimum no. of lots dictated. for instance if starhub is $3 and you put in $100 every month, then you can get around 30-33 shares(after commission) of starhub, whereas if you buy through sgx yourself you have to buy the minimum amount that the share is being traded at (maybe 100 shares at once or 1000)

as for sti etf, you cannot buy it through ocbc, only nikko am sti etf is available.

im sure you can find the rest of the answers you need in the compiled OCBC BCIP thread or their sales page/faq

nice. Now im having a better view of it. ok so like this, if i die2 want to buy from sgx, i can buy once like $3k plus and then hold as long as i want right? no need to top up money (only when wish to buy more). So in this situation, can the normal DBS Vicker will do the job,? idk i just find dbs is like so convenient. remember i also want to diversify to bonds and foreign etf also.