*Official* Shiny Things club - Part 2

[ChinoGirl]

The purchase of ST's book at https://gumroad.com/l/FxsMU is a PDF copy? I do not have kindle. Thanks

 

[smart alex]

Thanks for the reply! To confirm, if I move over $1k, i should just do it with Standard Chartered?

if over 1k use IBKR IS BETTER

 

[smart alex]

anyone how is the process of purchasing stock in Standard Charter trading is like?

if I buy IWDA ETF, just click on buy and will I get the stock appear straightaway in my account?

Do I need to wait?

 

[LexusIS]

The purchase of ST's book at https://gumroad.com/l/FxsMU is a PDF copy? I do not have kindle. Thanks

Can download kindle app to your phone, iPad or computer. I bought it through amazon and currently reading it on ipad.

 

[BBCWatcher]

if over 1k use IBKR IS BETTER

Really, if you're doing anything (e.g. buying IWDA) at least once monthly, IB is lower cost.

 

[tangent314]

anyone how is the process of purchasing stock in Standard Charter trading is like?

if I buy IWDA ETF, just click on buy and will I get the stock appear straightaway in my account?

Do I need to wait?

If the offer price is still 55.51 or lower when you send the order then you should get it fairly quickly. Otherwise you may have to wait a bit or may never get it at all if the price keeps moving up.

Once it goes through you will need to top up your US settlement account with the amount you owe.

Price has fallen to ~54.8 since opening, so yeah, you will probably get it at that reduced price.

 

[kram62]

Why you conveniently ignore my question on estate duty in USD?

OK now we know why you're repeating yourself like a broken record. You don't read what other write. He *did* address your estate duty question.

 

[LexusIS]

Dear Shiny Thing, BBCWatcher and all,

Really glad to have stumbled into this thread.

Currently in my early 40s and done really simple and noobish retirement planning around 5 years back. Could have done much better if I have read the book earlier.

1) Optimising CPF-SA
- Max my SA account 3 years back, while I max out my wife's SA acc this year by transferring my OA to her SA account
- ~S$470k for my SA account by age 55 assuming I continue working and interest rate continues at 4-5%

2) Starting an SRS account
- Some of it in SGX shares, some got "conned" by RM to buy Unit Trusts and some sitting there doing nothing waiting for opportunity.
- Started moving half the funds to SSB this year

3) Ensuring spare cash is earning good interest rates
- CIMB Online FD (which I will be withdrawing once it matures next month)
- High Yield CAs: Maybank's Save Up, Citibank's Maxigain, DBS's Multiplier

4) SGX Stock investment
- Started since my working days but really passive on it and currently stands at 10% of my whole portfolio (Cash, CPF, SRS)
- Bought and sold along the way, where some are doing ok and a few are like submarine...… sinking and sinking

5) Insurance
- Gotten life, critical, saving plan 16-25 years ago
- May probably re-look at whether I still need the critical illness from Manulife
- As for the pru-cash policy, even though it is the suckiest policy I bought, I will probably just keep it as there are only 9 more years to go

Anyway thankfully for this site and shiny thing book, I can look at some of the gaps in this retirement journey. Hopefully Shiny and some of the experts can help with some of my noobish questions. TIA


1) Which are the brokers I should use? (Assuming 6 figure sum over the next 6mths to a year)
a) Global Stock (IWDA): Will go with IBKR as recommended
b) Singapore Stock (ES3): Should I invest from SCB-Priority or DBS-Treasures
c) Total Bonds (MBH): Should I invest from SCB-Priority or DBS-Treasures

* Seems like DBS treasure is only charging 0.12% for their online equity trading?
https://www.dbs.com.sg/treasures/pricing-guide.page#equities


2) SRS
- Should I sell the 2 unit trust I bought? [Aberdeen Eur Opp & Uni Inc FC D(H)]
- Will there could be different broker fees for ES3 & MBH due to investing from SRS? (e.g. with SCB-Priority or DBS-Treasures?)
- What will be the recommended action for SRS funds to minimize charges (e.g. Lion Global with Poem?)


3) I have a small USD fixed Deposit of US$16k maturing in Aug this yr
- Does IBKR take USD banker's draft issued by SG Bank?
- Or what will be the best action for this USD deposit (e.g. just banking into DBS eMCA or SCB's FCY CA?)

 

[bobobob]

Why are you starting accusation here?

He's correct, BBC already answer your question.

There are no U.S. taxes of any sort for non-U.S. persons on U.S. Treasuries (directly held, not in fund form), U.S. bank deposits, U.S. credit union deposits, U.S. municipal bonds (directly held), and U.S. state bonds (directly held), as examples.

 

[little pupsky]

Oh no, we have another Ervino just when I thought there’s finally some peace around here. Just that there’s no bizarre bolding, underlining and red blue fonts. What a relief.

 

[dullthings]

Hi all, received mail that Maybank is ending their MIP after June 2019. Wonder what’s the next option for future MIPs and what to do with the existing holdings?

 

[intime]

Hi all, received mail that Maybank is ending their MIP after June 2019. Wonder what’s the next option for future MIPs and what to do with the existing holdings?

I'm gonna either transfer my holdings to CDP, or sell then re-buy them with another broker.

 

[kram62]

This is not about group thinking, it is a fact that USD cash in Singapore is not insured at all, and it is a fact that USD cash / CD / Treasuries parked in USA are insured within the SDIC limits.

Whether bank X or Y is likely or not to fail does not change these facts and is another topic.

This is what you refuse to even try to understand apparently, and thus the discussion goes nowhere because it is not based on facts anymore.

 

[jtec14]

I'm gonna either transfer my holdings to CDP, or sell then re-buy them with another broker.

Same here thinking to transfer but the charge is $50 per counter.
IF selling, need to sell by end of the year to enjoy discounted fees.

Any broker shortlisted? For regular saving plan for ES3, seems like only left poems but fees are very high. If not have to go with POSB G3B.

 

[justwakeup]

Received email from Maybank. MIP will stop in July

 

[smart alex]

Oh no, we have another Ervino just when I thought there’s finally some peace around here. Just that there’s no bizarre bolding, underlining and red blue fonts. What a relief.

going to become a quarrel thread again

 

[funnywits]

Hi all with regards to maybank mip suspension, my broker told me about a new promo mbke is rolling out for the next 3months (may extend depending on response). Don't have enough posts so cannot post link here.. Basically:
"Simply maintain a daily average balance of $10,000 in your Prefunded account and trade at only 0.12% commission rate for SG market online!" the balance will earn an interest rate of 0.32% PA.
Can I get all of your expert opinion as to if this is worth doing at least for the next 3months (monthly investment amount for es3 and mbh add up to less than 1k)if we have 10k to park there or we are better off looking at posb invests aver and put the 10k in higher yielding account like ocbc 360?
If we do not have 10k or it is not worth I guess the solution is just to switch to posb? But wouldn't rebalancing be abit more complex cos we would probably have es3, mbh, and A35 to look at from different brokers. How do we go about doing this?
Also I saw a previous poster and also shiny advocating use of Stan chart as cheapest platform for sgx. However I thought the cheapest deal now is actually mbke prefunded account which is 0.12% min $10. I think both Stan chart and mbke both have clearing fees gst etc misc fees. Therefore for larger trades mbke should be a better option? For small trades both should cost the same?
Thanks!

 

[smart alex]

Anyone buy stock through company stock option in their monthly salary?

if I allocated $200 on the company stock at discount price every month

do I need to adjust my global ETF percentage accordingly?

 

[crystalnox]

Anyone buy stock through company stock option in their monthly salary?

if I allocated $200 on the company stock at discount price every month

do I need to adjust my global ETF percentage accordingly?

Nope, cash it out as soon as you can to "earn" the discount and then dump it into your regular etf purchases.

 

[tangent314]

I am 38 years old and not a DIY investor and has always left my investments to my friend. But I realise that my portfolio isn't going anywhere, and it is better to be hands-on for your own financial future. I need advice from members and understand that the final decision is up to myself. Time for some spring cleaning!

Welcome!

1) Aviva Global Savings Account

- inception date is 20 Sepember 2010

- payment frequency is SGD250/month

- funds are since inception of account are BlackRock Global Funds - Latin American A2 Fund US, and BlackRock Global Funds - World Gold A2 Fund USD

- premium end date is 20 September 2035

- As of 29 May 2019, the total premiums paid is SGD26,250.00 and investment value is sgd21,213.8. I have asked my friend to let me know how much I will get back if I liquidate this account as there will be penalty charges =(

Questions:

1a) Should I surrender this account entirely? Or switch it to other funds offered under Aviva Global Savings? I do not mind lower returns (is 1% too much to ask for?but it does not beat inflation) less fund management fees etc.

1b) If the suggestion is to switch to other funds on offer under Aviva Global Savings Account, what would be your suggestions and the reason(s) for the selected funds (for my understanding and learning).

A quick look at this plan and I can only say ouch at the fees. I'm inclined to say that you should surrender it as soon as you can - but let's take a look at the surrender fees first.

2) Aviva Navigator cash account

-inception date is 30 Dec 2008

-was in growth portfolio until mid of last year when I asked to switch to Balanced portfolio

- am not charged an advisory fee/wrap fee by my friend, but believe there may be a platform fee incurred for using the Aviva Navigator platform, and of course the usual fund management fees etc which are also gnawing at my returns.

- initial lump sum of cash investment was SGD28,000 and the current value is at SGD39,700. No further contribution.

-no penalty for terminating account

This would be an easy since there's no penalty, just redeem everything.

3) CPF-SA

- I have terminated the investments last year with a loss of SGD854.20 (15.12%). Had some greens but after that it was red for as long as I can recall. Seeing that the past few years has been a bull run………

Using CPFIS-SA is almost always a mistake. Redeem this as soon as possible. You are going to need some bonds in your portfolio and SA is arguably the best 'bond' to be counted as part of your portfolio.

4) CPF-OA

- current value as of 29 May 2019 is 23,742.07, with a loss of -7.14%. Had some greens but after that it was red for as long as I can recall. Thinking of terminating this too.

-was in growth portfolio until mid of last year when I asked to switch to Balanced portfolio.

Appreciate it if you could advise this newbie. Thank you very much! Have a lot to learn.

Ideally, redeem your CPFIS-OA, but you want to plan what to do with them, depending on whether you will need your OA for future housing. If you don't plan to use your OA, then it would make sense to transfer your OA to SA. If you are planning to keep it for housing, you should keep it around. Otherwise, you can choose to keep it around for the 2.5% interest, or use some with CPFIS-OA to purchase ES3.