I’ll add a few thoughts....
I wouldn’t call that coverage “basic.” That’s a public hospital A ward coverage plan with capped out-of-pocket/Medisave costs for covered services. It’s at least a little more than basic.
You’ve got a nice emergency reserve fund, yes. As for insurance, I get concerned when you don’t have disability income insurance (DII), a.k.a. income protection insurance in some countries. I think TPD, CI, and PA are not super essential, but even if you think they are, DII is
really foundational, in my view. Everything you’ve described hinges on continuation of an income, and that’s the stuff you want to insure: your ability to earn an income. The mosaic of TPD/CI/PA only very imperfectly does that. DII is at least much closer to the ideal protection against loss of that future earning potential. That said, it appears you’ve got the MINDEF group disability insurance from Aviva, and that’s a “weird” policy. It’s not really DII, but it’s a little more than TPD, as I understand it. It’s a TPD policy with a couple DII pretentions.
I’m just describing how I feel about insurance needs. There’s also the fact that it’s difficult to get and to keep DII when you’re internationally mobile. There are a couple specialist carriers that offer it, and it might be available in Hong Kong.
Not my recommendation.
At age 34, I don’t think there’s any urgency to restrict your stock investing to “on shore” market(s). Shiny Things and I might disagree about that. There’s stronger merit for “on shore” bonds, especially when you’ve got some good opportunities. I agree that there’s still some merit in giving CPF some attention even while outside Singapore. SSBes are good too, agreed. (I think SSBes beat A35 for long-term investors until you get to quite high amounts of wealth.) As for stocks, since you’re not sure where you want to retire, I think you can just keep it simple and go global. If you want to have some “on shore” stocks then I’d just add a little — something like 10% of your stocks in the STI and 10% in the HSI. I wouldn’t go higher than that at this point in time — most should be global, in my view. (Lower is OK.) Since you’re a resident of Hong Kong you can do all your stock investing via Interactive Brokers if you wish, including the Singapore part.
No, I’d still include some. If there’s an
investment grade, low cost, Hong Kong dollar denominated corporate bond fund, you could consider that. Or you could do something like ticker symbol CORP, the Blackrock iShares fund traded in London/domiciled in Ireland.
Presumably you’ll need to hold back some as emergency reserve funds, although in Singapore SSBes work quite well for that (for emergency month 3 onward). For the part you wish to invest, I kind of like a 12 to 18 month buying program. For example, if you decide to invest S$48,000 (total), then you could push in S$4,000/month for 12 months, for example.
SA (and MA) are still paying 4% (or more if you qualify for bonus interest), and same for your spouse if a CPF member. Tax relief or not, that’s still quite attractive. The long bond (the 30 year Singapore government bond) isn’t paying anywhere near that much, and that’s almost exactly what a SA top-up is. You can consider CPF as part of your bond allocation for long-term investing.
The latter is fine, but even the latter is something you don’t have to be maniacal about. If you’re 1.8% out of balance, or whatever, it’s not an emergency. Just give your portfolio a gentle nudge every once in a while to keep it on your desired path, that’s all.
