Regular Savings Plan

[sunbox]

Hello Experts,

Is it worth putting money in RSP’s offered by many banks here?

 

[JuniorLion]

Hello Experts,

Is it worth putting money in RSP’s offered by many banks here?

Like POSB Savers Invest?

 

[Maeda_Toshiie]

Depends on what you invest in.

 

[iduncheckmail]

Hello Experts,

Is it worth putting money in RSP’s offered by many banks here?

You created account just to ask this ?

 

[sunbox]

Yes, like POSB Savers Invest. I am very new to investing. For someone who is new to investing in stocks will RSP be better option? Was reading about MayBank RSP account which offers options to invest in US market. My savings account is with OCBC but it’s options are limited.

Like POSB Savers Invest?

 

[sunbox]

Have been reader on this forum for few weeks. I am newbie to investing

You created account just to ask this ?

 

[sunbox]

Looking to invest in US market but I am not sure if it is good idea to invest using RSP.

Depends on what you invest in.

 

[SBC]

Good to combine Invest Saver with Multiplier/CashBack Bonus.

I have started about 1 year plus ago.

 

[Maeda_Toshiie]

Looking to invest in US market but I am not sure if it is good idea to invest using RSP.

Wrong account to open to invest in the US market.

 

[pancake11]

what is RSP?

 

[SBC]

RSP is Regular Saving Plan. Good place to start.

https://blog.moneysmart.sg/this-vs-...nk-kim-eng-which-regular-savings-plan-to-use/

 

[peipei1]

Try with POSB/DBS investsaver, set aside $500 to buy STI ETF and earn dividends, treat it as a saving for future, an endowment plan without going through agent.

There is full commission rebate (subject to changes!) into Paylah app, effectively cash-back as you can transfer back into your POSB/DBS current account with a swipe! With this RSP, you have commission free buying and if you want to sell somehow, there is also no selling charge (subject to changes!). If you switch bank, you can transfer the ETF units into you CDP and can trade it with any broker. I feel this is a small gem for invest starters.

Any one else here with me?

 

[tangent314]

Your RSP options with banks here are not very good. They take quite a lot of commission and mostly offer unit trusts where the fund managers take a lot of fees. A couple of banks do offer low fee ETFs with their RSP plans but only offer SGX listed ETFs.

You can look at this article to compare the options available: https://blog.moneysmart.sg/this-vs-...nk-kim-eng-which-regular-savings-plan-to-use/

Note that the fees for POSB IB has been reduced to 0.82% and there may still be some cashback promotions, I think related to PayLah!

If you want global equities exposure, the best option would be to DIY through an online broker, either Standard Chartered Bank or Interactive Brokers into one of two ETFs listed on the London exchange - IWDA or VRWD. If that is too hard for you and you want to pay more for the convenience of RSP, then we generally recommend using POEMS or DollarDex to purchase one of these two unit trusts: Lion Global All Seasons Fund (Growth) or Lion Global Infinity Global Stock Index Fund, where the fees are much lower than other Unit Trusts and the underlying funds are passively managed.

 

[SBC]

Try with POSB/DBS investsaver, set aside $500 to buy STI ETF and earn dividends, treat it as a saving for future, an endowment plan without going through agent.

There is full commission rebate (subject to changes!) into Paylah app, effectively cash-back as you can transfer back into your POSB/DBS current account with a swipe! With this RSP, you have commission free buying and if you want to sell somehow, there is also no selling charge (subject to changes!). If you switch bank, you can transfer the ETF units into you CDP and can trade it with any broker. I feel this is a small gem for invest starters.

Any one else here with me?

Can always start with $100. Once comfortable, can set to higher amount.

 

[Toni90]

Try with POSB/DBS investsaver, set aside $500 to buy STI ETF and earn dividends, treat it as a saving for future, an endowment plan without going through agent.

There is full commission rebate (subject to changes!) into Paylah app, effectively cash-back as you can transfer back into your POSB/DBS current account with a swipe! With this RSP, you have commission free buying and if you want to sell somehow, there is also no selling charge (subject to changes!). If you switch bank, you can transfer the ETF units into you CDP and can trade it with any broker. I feel this is a small gem for invest starters.

Any one else here with me?

Still need some discipline. I bought bought for a while then see the price increase then became greedy and sold it.

 

[SBC]

Still need some discipline. I bought bought for a while then see the price increase then became greedy and sold it.

Need to endure. This is part of DCA investing.

 

[peipei1]

I find investsaver is easiest to set and forget. The amount is small, treat like putting in piggy bank for rainy day for kids. I like the automation, and i get biannual dividends, and sti don't swing as much, and my salary is credited into dbs account, i tend to overlook the investsaver deductions because of many transactions recorded. Only beef is they send a lot of paper statements, need to shred timely!

Effectively commission free so far. I only redeemed the abf bond and put into sti, i find sg bond etf pointless at present, with ssb and cpf, we can get more aggressive in equities.

 

[rerear]

Can elaborate how to do the paylah part?

 

[5408854088]

Go for POSB if you are okay with two counters, or OCBC if you want more counters. Whatever POSB or OCBC charge is nett price. Correct me if I am wrong.

In addition to handling fees, KE need to pay SGX clearing fees and GST, while POEMS need to pay GST and dividend handling fee. These additional fees are not reflected in the comparison. So choose your counters and do your own sums.

 

[mingyang93]

Hello Experts,

Is it worth putting money in RSP’s offered by many banks here?

I think it is the intention of what are you going to do with this money instead and would you be touching this money anytime soon?