Official Shiny Things thread—Part III

[limster]

SG should teach us financial literacy when we are in sec school instead of literature.OTL

Sec school they are teaching basic budgeting and finance. Its too early to teach about stock market since they can't open an account anyway. But tertiary level, there are plenty of opportunities to learn. Even got investment clubs....

Econs is still part of Arts & Social Science - i'm sure as a Lit student you could take optional econs modules if you wanted.

Furthermore most unis, including local ones also allow students from other faculties to take optional econs modules like Money & Banking.

As for financial literacy, its just $8 for Shiny's book, or if you got no money, borrow it (and many other books about investing) from library.

Those that don't want to read can go and see their friendly insurance agent; people who are financially illiterate and too lazy to read investing books are their favourite type of customer. But there is nothing wrong with that. There is a huge financial services/advisory sector that caters for investors who don't want to DIY.

 

[livingcharsiew]

school teach home econs but so many people cannot cook

 

[chrisloh65]

Since You have shiny things, bbc watcher, saxonceltic around guiding you, then I have confidence that you will never be able to achieve VVHNWI in your life time

not obliged.

there's good people like shiny things, bbc watcher, saxonceltic around guiding us.

if you numb-skulls can't appreciate their gesture of goodwill, at least don't troll and give dumbo comments.

that's all you need to do for your first step towards financial success.

 

[chrisloh65]

Face palm! You keep listening to Foreign Trash then forever you can't achieve VVHNWI in your life time lah!

that's where u have a brain and exercise discernment.

face palm moment.

no wonder, sg gov needs to import foreigners to replace the locals. (to the extent that they went to the gutter of gutters. shows how indoctrinated and lack of critical thinking sg citizens are.)

 

[Kayeesha]

As for financial literacy, its just $8 for Shiny's book, or if you got no money, borrow it (and many other books about investing) from library.

Is the Shiny's book you are referring to "Rich by Retirement"? I see it priced at $35.26 on Book Depository and $33.43 on Amazon Sg. Where can I get it for just $8? Thanks.

 

[limster]

Is the Shiny's book you are referring to "Rich by Retirement"? I see it priced at $35.26 on Book Depository and $33.43 on Amazon Sg. Where can I get it for just $8? Thanks.

gumroad $8
kindle $9.99

 

[FrostWurm]

Face palm! You keep listening to Foreign Trash then forever you can't achieve VVHNWI in your life time lah!

then what? listen to you ah?

 

[chrisloh65]

That is up to you isn't it?
At least I am able to achieve VVHNWI status through investment, that is what I can said.

Have you achieved VVHNWI status yet? If you do, I believe many would be willing to listen to you!

Nothing beats real hard records! Not trumpet blowing, not very "deep" theory that are useless in practise and can't help you to achieve VVHNWI status (in your life-time) isn't it?

then what? listen to you ah?

 

[highsulphur]

That is up to you isn't it?
At least I am able to achieve VVHNWI status through investment, that is what I can said.

Have you achieved VVHNWI status yet? If you do, I believe many would be willing to listen to you!

Nothing beats real hard records! Not trumpet blowing, not very "deep" theory that are useless in practise and can't help you to achieve VVHNWI status (in your life-time) isn't it?

After so many posts, the only piece of advice from you is buy low sell high.....

 

[George Soros]

if buy ETF directly on Tda, example VT,QQQ,SPY, do i need to pay charge fees?

 

[FrostWurm]

Nothing beats real hard records! Not trumpet blowing, not very "deep" theory that are useless in practise and can't help you to achieve VVHNWI status (in your life-time) isn't it?

True...show your records leh! If not how to believe?? thx bro

 

[d5dude]

that's where u have a brain and exercise discernment.

face palm moment.

AA is 90% of the investment thesis, who cares if the other 10% is sound financial advice if the portfolio allocation is bad to begin with? Or do you think his 3 fund portfolio (for a Singapore based investor) isn't bad advice even though you called the people who followed this AA "losers"? Maybe its time to drop some of that fanboyism and "exercise a little discernment"?

no wonder, sg gov needs to import foreigners to replace the locals. (to the extent that they went to the gutter of gutters. shows how indoctrinated and lack of critical thinking sg citizens are.)

This has nothing to do with foreigners or locals, we are talking about Shiny Thing's specific recommendation to allocation a large portion of one's wealth in the STI. Please stick to the topic.

 

[BBCWatcher]

if buy ETF directly on Tda, example VT,QQQ,SPY, do i need to pay charge fees?

Assuming you’re a resident of Singapore earning Singapore dollars and not a U.S. person, yes. You’ll have the following charges:

1. A currency conversion cost from Singapore dollars to U.S. dollars upon deposit to TD Ameritrade.

2. U.S. dividend withholding tax of 30% on those particular vehicles. (You might be able to claw some of the VT withholding back by filing IRS Form 1040NR and claiming a Foreign Tax Credit.)

3. The management fees that the fund managers charge within their funds.

4. A wire transfer fee, currency conversion cost, and usually inward telegraphic transfer fee to land funds back in Singapore as Singapore dollars.

5. U.S. estate tax on those vehicles upon any account holder’s demise, assuming U.S. estate taxable assets are above US$60,000.

Other charges may also apply depending on your circumstances and events.

 

[culepico]

I’ll take the other side of this. If ES3 is up in six months’ time (25th of September), I win; otherwise, you win. Hundred bucks?

I’ll even give you a head start. Instead of using the close yesterday, before the incoming stimulus bounce, let’s use the close today (25th March)

STI ES3 closing price:

25th March 2020 - $2.52
25th September 2020 - $2.50

Hundred bucks?

 

[lfrcas]

Hey guys, a newbie here trying to start some regular investing.

Sorry if this has been asked before.

I am looking to invest $1000 a month (RSP) via FSM for IWDA. Is this a good time right now? Looking to hold for > 10 years.

 

[viventa]

not obliged.

there's good people like shiny things, bbc watcher, saxonceltic around guiding us.

if you numb-skulls can't appreciate their gesture of goodwill, at least don't troll and give dumbo comments.

that's all you need to do for your first step towards financial success.

You're absolutely right! So many people here giving dumbo comments... they're really so self-absorbed and think they're hot stuff when they're actually just numb-skulls. Such a pity!

 

[yellownova]

From what I see, FSM RSP can only buy from SG, HK and US exchanges. IWDA is unavailable as it trades on the LSE. London Stock Exchange.

The current recommendation for brokers would be Standard Chartered and Interactive Brokers.

Search around for the Google sheet calculator posted here before, that can help you break down the fees and determine which broker you should use.

General advice is 1K and below stick with SC, if above, can go for IB.

I am looking to invest $1000 a month (RSP) via FSM for IWDA. Is this a good time right now? Looking to hold for > 10 years.

 

[OnePunchMan]

STI ES3 closing price:

25th March 2020 - $2.52
25th September 2020 - $2.50

Hundred bucks?

wow that was cutting real close. how do you see historic market close price per day btw?

 

[highsulphur]

wow that was cutting real close. how do you see historic market close price per day btw?

There was dividend paid during that period

 

[lowveld]

Hello, I currently have an IBKR US account with <100k USD and am planning to create an IBKR SG account since it is what's highly recommended now for the purchase of ES3, G3B/A35 and IWDA.

Do I need to manually transfer the holdings from the US account to the SG one or is it done automatically? Can I also merge the account or is it also done automatically? Any other important things that I must take note of?

There is now an automated feature (manual transfers they don’t do anymore). Try it - it’s amazing.