Lastest S$ Deposit updates - Part 3

Perisher

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250k not small bro not many got we foot soldier work many years can save 100k v good leow
All along I know this world only favour rich ppl their money grow more....poor fella like us after
cost of living only save 5k pa so after 20 only 100k plus😭😭😭😭😭

True. Many doors only open after you hit certain milestones. Some of the things that should be corrected.
 

yongsaver

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250k not small bro not many got we foot soldier work many years can save 100k v good leow
All along I know this world only favour rich ppl their money grow more....poor fella like us after
cost of living only save 5k pa so after 20 only 100k plus😭😭😭😭😭

i was also a foot soldier bro. i had $0 to my name when i grad some 20+ years ago...2 things i live by which actually many bros here reiterated many times...
1. "those who know compounding, earns it. those who don't, pays for it"
2. "its not how much u make, its how much you spend".

These are simple statements but to me they are powerful enough to affect ALL aspects of one's financial health...

True. Many doors only open after you hit certain milestones. Some of the things that should be corrected.

this i agree...like fundsupermart's BOND EXPRESS...only open to accredited investors..allowing AIs to buy bonds at denomination of just $5K per lot...i used it to buy several High Yield or JUNK bonds which normally i would not buy at 250K a lot...i called it my "junk portfolio". :s13:
This I feel should be opened to everyone.
 

yongsaver

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shoutout to bros who PMed me on my bond holdings..i cannot be overly specific on the bonds i hold la. what works for me may not work for you. :D
 

maumu

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...like fundsupermart's BOND EXPRESS...only open to accredited investors..allowing AIs to buy bonds at denomination of just $5K per lot...

can share how to become an 'accredited investor'?
 

yongsaver

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can share how to become an 'accredited investor'?

Some will allow u to buy the bonds w/o being an AI...some more 'strict'...require u be an AI first before allowing u to buy...u would need to check with the dealer which group they belong to...:D

To be an AI, just submit the necessary documents showing your net worth - savings deposits,..house ownership,...investment etc..as long as more than $2 mil....u are good to go. Again some dealers are more strict with the declaration,...such as joint account take 50% haircut etc..some more relax. :D so need to check around.
 

little pupsky

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Or have an annual income of at least S$300K.

Note: only up to S$1M can be used for qualification for primary residence value.
 

IronMan123

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Hi there, is it the Maybank iSAVvy bonus rates will be credit to our acc on next month?

zK0IgmC.jpg

 

vsvs24

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Hi there, is it the Maybank iSAVvy bonus rates will be credit to our acc on next month?

zK0IgmC.jpg

The base interest is credited on last day of same month. The bonus interested is credited a few days later.
 

xiaonajia

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i was also a foot soldier bro. i had $0 to my name when i grad some 20+ years ago...2 things i live by which actually many bros here reiterated many times...
1. "those who know compounding, earns it. those who don't, pays for it"
2. "its not how much u make, its how much you spend".

Able to explain more details to bros here how to exploit compounding? What investment vehicle did you use for this compounding effect?
 

yongsaver

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Able to explain more details to bros here how to exploit compounding? What investment vehicle did you use for this compounding effect?

the fact you are in this thread means you are already exploiting it. :D

cheeers.
 

cscs3

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i was also a foot soldier bro. i had $0 to my name when i grad some 20+ years ago...2 things i live by which actually many bros here reiterated many times...
1. "those who know compounding, earns it. those who don't, pays for it"
2. "its not how much u make, its how much you spend".

These are simple statements but to me they are powerful enough to affect ALL aspects of one's financial health...



this i agree...like fundsupermart's BOND EXPRESS...only open to accredited investors..allowing AIs to buy bonds at denomination of just $5K per lot...i used it to buy several High Yield or JUNK bonds which normally i would not buy at 250K a lot...i called it my "junk portfolio". :s13:
This I feel should be opened to everyone.

Fully agreed with you. Especially point #2.
In many case, we spend on something we do not really need or spend excessively due to preference to certain brand or status.
This happen to Japanese some 20 years back. Once people understand this, spending habit changed and price start going down due to lost of market share. So much so you may find now a day travelling to Japan, the spending is more or less about the same as Singapore.

We eat our own "food" by spending without control.
 

cscs3

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Able to explain more details to bros here how to exploit compounding? What investment vehicle did you use for this compounding effect?

One good place to look at these number is from your yearly CPF statement.
Another good example is from your insurance saving plan vs deposit in bank account or CPF.
Insurance company do not pay "compounding". You may get bonus every year, but you do not get interest for your bonus earned. AND you are not paid until you complete the whole plan.

If you put the same amount in bank/investment, you either get interest for the interest/bonus earn or you can withdrawn it a spend it earlier. At the end of fix time frame (insure period). You will find you get much lesser then expected from a insurance plan.
 
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maple96

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One good place to look at these number is from your yearly CPF statement.
Another good example is from your insurance saving plan vs deposit in bank account or CPF.
Insurance company do not pay "compounding". You may get bonus every year, but you do not get interest for your bonus earned. AND you are not paid until you complete the whole plan.

If you put the same amount in bank/investment, you either get interest for the interest/bonus earn or you can withdrawn it a spend it earlier. At the end of fix time frame (insure period). You will find you get much lesser then expected from a insurance plan.

Depends. My WL and endowment plans are paying me 4-5% pa compounded returns, the longer I hold the better my returns.
 

vsvs24

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How they pay 2%? must wait one year?

If you are referring to Maybank isavvy (the one posted above showing Jan and Feb), for Feb 2019, base interest will be credited 28 Feb 2019. Bonus interest in first week of Mar 2019.
 
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xiaonajia

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One good place to look at these number is from your yearly CPF statement.
Another good example is from your insurance saving plan vs deposit in bank account or CPF.
Insurance company do not pay "compounding". You may get bonus every year, but you do not get interest for your bonus earned. AND you are not paid until you complete the whole plan.

If you put the same amount in bank/investment, you either get interest for the interest/bonus earn or you can withdrawn it a spend it earlier. At the end of fix time frame (insure period). You will find you get much lesser then expected from a insurance plan.

I see, thanks for sharing... Currently having my money locked in FD as I'm too lazy/incompetent in financial knowledge. Hoping to grow it by reading this forum and many other places like moneysmart
 

BlackTortoise

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If you are referring to Maybank isavvy (the one posted above showing Jan and Feb), for Feb 2019, base interest will be credited 28 Feb 2019. Bonus interest in first week of Mar 2019.

Hi bro, if I bank transfer from other bank to Maybank isavvy account in a few batches of deposits (due to bank transfer limit) over two days (Today & Tomorrow) to make up $50,000. So the base interest I will get end Feb is 0.38% of $50,000= $190. Bonus interest in March is 1.62% of $50,000=$810. So in total I will get $190+$810=$1000.

Is my calculation correct?
 
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oceanicmanta

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Hi bro, if I bank transfer from other bank to Maybank isavvy account in a few batches of deposits (due to bank transfer limit) over two days (Today & Tomorrow) to make up $50,000. So the base interest I will get end Feb is 0.38% of $50,000= $190. Bonus interest in March is 1.62% of $50,000=$810. So in total I will get $190+$810=$1000.

Is my calculation correct?

bank transfer daily limit shld be more than 50k per day now ... which bank r u using ?

if u deposit 50k today, your Feb interest will be 0.38% x 50k x 21/365 = $10.93

bonus interest will be 1.62% x 50k x 21/365 = $46.60

(u r earning interest for 21 days in Feb, not the full 365 days)
 

mdax23

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Hi bro, if I bank transfer from other bank to Maybank isavvy account in a few batches of deposits (due to bank transfer limit) over two days (Today & Tomorrow) to make up $50,000. So the base interest I will get end Feb is 0.38% of $50,000= $190. Bonus interest in March is 1.62% of $50,000=$810. So in total I will get $190+$810=$1000.

Is my calculation correct?

no
10 char
 
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