Need advice on how to grow

[PTEmon]

I shouldn't have indicated that! Lol

 

[akwl88]

Thanks. Quite a number of IFA Pmed me. Most of them have interesting proposals.

Should I subscribe for the next SGS ?

Lol carrot head spotted liao

Better be wary

 

[iperiodic]

Thanks. Quite a number of IFA Pmed me. Most of them have interesting proposals.

Should I subscribe for the next SGS ?

You say u got 400k a year they ask u throw in a investment linked plan at 1k a month u also will throw then their commission huat over 10k.

There's several threads explaining why ILPs in Singapore are generally bad and endowment also so please be careful. People here more than willing to tell you why if you need to know.

 

[iperiodic]

Thanks. Quite a number of IFA Pmed me. Most of them have interesting proposals.

Should I subscribe for the next SGS ?

If you have no problems with cash liquidity on the foreseeable future lor, cos got lockdown period unless u sell to primary dealers.

Alternatively you can try SSBs. Can take out within 30 days although intrrst rate is not fixed like SGS but increases over time instead. Anyway eventually if SG or ssb you keep for the same amount of years the interests equals up (correct me if im wrong)

 

[wealth_farmer]

He's in sales in consulting and can rake in 400k a year, he's unlikely to be an oil-saving lamp. He'll prob make those IFAs work hard for their comm

All jokes aside, TS, the things that make you money are those boring stuff. The moment they start sexing it up and throw you a word salad, just run for the hills. But you're a consultant so you know this already.

Lol carrot head spotted liao

Better be wary

 

[PTEmon]

You say u got 400k a year they ask u throw in a investment linked plan at 1k a month u also will throw then their commission huat over 10k.

There's several threads explaining why ILPs in Singapore are generally bad and endowment also so please be careful. People here more than willing to tell you why if you need to know.

Thanks bro. I will not go for ILP. More interested with blue chip stocks, saving accounts and FD
Looking at second property too

 

[PTEmon]

If you have no problems with cash liquidity on the foreseeable future lor, cos got lockdown period unless u sell to primary dealers.

Alternatively you can try SSBs. Can take out within 30 days although intrrst rate is not fixed like SGS but increases over time instead. Anyway eventually if SG or ssb you keep for the same amount of years the interests equals up (correct me if im wrong)

What is ssb and sgs

 

[wira]

What is ssb and sgs

SSB. Singapore savings bonds.
http://www.sgs.gov.sg/savingsbonds.aspx

Sgs. Singapore government securities
http://www.sgs.gov.sg

 

[PTEmon]

SSB. Singapore savings bonds.
http://www.sgs.gov.sg/savingsbonds.aspx

Sgs. Singapore government securities
http://www.sgs.gov.sg

Thanks, will read up

 

[iperiodic]

Thanks bro. I will not go for ILP. More interested with blue chip stocks, saving accounts and FD
Looking at second property too

If you are not an active trader I read in books that a buy and hold strategy is normally better but I may be wrong hahaha.

SSB and SGS are bonds, money you loan to govt with guaranteed interest per year and capital. Generally not as good 'returns' as stocks or index funds but it should be a part of your portfolio.

ShinyThings has a great book about investment for Singaporeans and you should consider putting your money into index funds and bonds if you want to manage it passively.

Im not sure about others but I'm an advocate of buying index funds (STI ETF and foreign index funds like IWDA) with a fixed sum every month and holding it for a long long time. Most books and online data shows that less than 10% of active trading can beat the market index in the long run, mostly due to transactional costs. This is my personal view though and someone else might offer another view.

 

[frenchbriefs]

400k p.a. but staying in HDB?shouldnt u at least be taking advantage of the real estate market and ur earning power and buying a landed property.or at the very least buying 4 or 5 condos and making mortgage payments.imagine owning 10 million worth of properties.

 

[PTEmon]

If you are not an active trader I read in books that a buy and hold strategy is normally better but I may be wrong hahaha.

SSB and SGS are bonds, money you loan to govt with guaranteed interest per year and capital. Generally not as good 'returns' as stocks or index funds but it should be a part of your portfolio.

ShinyThings has a great book about investment for Singaporeans and you should consider putting your money into index funds and bonds if you want to manage it passively.

Im not sure about others but I'm an advocate of buying index funds (STI ETF and foreign index funds like IWDA) with a fixed sum every month and holding it for a long long time. Most books and online data shows that less than 10% of active trading can beat the market index in the long run, mostly due to transactional costs. This is my personal view though and someone else might offer another view.

What's the book under shiny things?

 

[scholar88]

400k p.a. but staying in HDB?shouldnt u at least be taking advantage of the real estate market and ur earning power and buying a landed property.or at the very least buying 4 or 5 condos and making mortgage payments.imagine owning 10 million worth of properties.

Yup too much already.. 400K p.a. staying in HDB and enjoy subsidised price? Wah, cannot man.

Donate to the needy best. Students require lots of bursaries nowadays. Do some charitable acts, instead of asking us nonsensical questions about what to do with 400K.

Pay back to the society, there is many people in the society waiting for your assistance. How the society has shaped you to such a succesful person, it is time to reciprocate.

You can create a bursary by your name.. help others with the money..

 

[scholar88]

What to do with 400K
Donate to community chest, help the elderly, support the needy, disadvantaged, special needs..

Our country is facing ageing population, help the elderly please by donating. They really need your help.

The rich should help the poor, so that the wealth is more evenly distributed.

 

[scholar88]

Should suggest MOF to increase tax rates for these rich personnels. Too low for them until they are asking what to do with my 400K? Ridiculous.

Because they cannot feel the tax impact, then come here to ridicule us (commoners- poor people).

 

[scholar88]

Damn ridiculous, cannot accept this.. just do donations lah, help the poor and needy lah..

 

[frenchbriefs]

honestly its quite a waste,a person with ur earning power is quite rare to come by,imagine if u pursue investing hardcore like some of the Singapore bloggers AK71,or Forever Financial Freedom or Investment Moats.....imagine the portfolio size u can achieve in 15 to 20 years time,if im not wrong AK71's portfolio is worth upwards of 3 million from the information hes leaked,plus his cpf OA and SA is more than 600k.....

it would be an interesting experiment to see how high u can go,i estimate at least 4 to 5 times that.

 

[scholar88]

The best golden advice on how to grow:

Be a Donor


Community Chest is the fund-raising and engagement arm of the National Council of Social Service (NCSS). Thus it is aligned with NCSS’ vision of ensuring that every person has the opportunity to live a life of dignity to their fullest potential within our society.

For over 30 years, Community Chest has been engaging the community to support people in need through fund-raising and volunteering. It supports charities in caring for and serving the less fortunate, and providing critical social service programmes to help children with special needs, adults with disabilities, seniors and families facing difficulties and persons with mental health issues.

Over the years, Community Chest built an enduring trust and partnership with many organisations, foundations and individuals, and raised millions of much-needed dollars that enabled the needs of social service beneficiaries to be met.

 

[frenchbriefs]

Should suggest MOF to increase tax rates for these rich personnels. Too low for them until they are asking what to do with my 400K? Ridiculous.

Because they cannot feel the tax impact, then come here to ridicule us (commoners- poor people).

sg is not a socialist welfare state,PAP believes in rich deserves to get richer,the poor can go fk themselves.thats why we have low income tax,zero capital gains tax,low corporate tax,zero estate tax.

 

[scholar88]

honestly its quite a waste,a person with ur earning power is quite rare to come by,imagine if u pursue investing hardcore like some of the Singapore bloggers AK71,or Forever Financial Freedom or Investment Moats.....imagine the portfolio size u can achieve in 15 to 20 years time,if im not wrong AK71's portfolio is worth upwards of 3 million from the information hes leaked,plus his cpf OA and SA is more than 600k.....

it would be an interesting experiment to see how high u can go,i estimate at least 4 to 5 times that.

Do you agree this person should donate to charity?