Please help assess my financial position

[yongen.lee]

I see Financial Advisor/consultant giving advises that does not putting themselves in the shoe of the client, instead, trying to look for sales opportunity.

Future is for those who have planned for.

You are a salary employee.
The only way to the problem, cut spending.
Discipline in your spending.
If you have to do it, u have to do it.

While there are many unscrupulous financial planners out there, you are dreadfully wrong about about cutting spending being enough.

Cutting spending is important but your money in the bank will get you no where close to the 4.5% inflation. If you have the means, look for safe investment tools. At least use a fixed d or an endowment plan. If you are adventurous enough you can think about land investment with a good company because the pay out is usually much better. Ask for their track record. Don't anyhow invest.

 

[Sinkie]

While there are many unscrupulous financial planners out there, you are dreadfully wrong about about cutting spending being enough.

Cutting spending is important but your money in the bank will get you no where close to the 4.5% inflation. If you have the means, look for safe investment tools. At least use a fixed d or an endowment plan. If you are adventurous enough you can think about land investment with a good company because the pay out is usually much better. Ask for their track record. Don't anyhow invest.

sure or not? got company invest in land from singapore?

 

[yongen.lee]

Have la

sure or not? got company invest in land from singapore?

They don't invest in Singapore, they invest overseas. Malaysia, US, Canada, UK, etc. That's why must their background properly. Typically, it is better to trust companies which are longstanding and have good track records. But of course all businesses must start somewhere and some of the upstarts are actually good.

But just be very careful, many new "companies" offer very nice promise but end up in the MAS black list

 

[antonpoh]

I think your S$45k dollardex funds is giving you too little return. Pull out 60% (aro 27k) of it and put it into Reits or good stocks. If your 27k of stock invest ment can yield aro 22% return which is about 6k, then you just need to save another $500 to hit your $1000 savings per month.

I have been investing 35% of my cpf in stocks for 8yrs and I manage to grow it from 16k to 64k. So it's not impossible. I give my parents $650 per month and i still think it's too little. And yup, they're right.. insurance you don't need to buy too much. Sg is so small.. can skip the car too.

 

[Yellowfin]

sure or not? got company invest in land from singapore?

I think he is teaching other people how to use one own money to grow other people wealth. Correct me if I am wrong.

 

[callalily]

2k pay can buy HDB already. Gov should be see more of such threads.

You are not too bad for age of 28. Well done!

I have done another step forward by seeing it as an issue to pondle & reflect. Well done again.