I’m not good doing it alone but getting into the market has been my best decision so far in my road to financial independence as it turned out lucrative for me.
Great stuff. I watch several youtube videos on how to trade in the stock market but haven't made any headstart because they are either talking some gibberish or sharing their story of how they made it and I do not want to make mistakes by taking risks in my own hands.
Heihdar is correct in getting into term insurance , much cheaper premium n invest the difference of the premium. He is also smart in putting more money outside of CPF due to liquidity, buy a 5 or 10 years tiered GIC n rolls the interest earned. He will meet his financial goal by 50.
I find it quite staggering to know not a lot of Singaporeans own stocks, capital gains are not taxed here. Everyone should put in a bit of effort to learn the basics of investments.
No joke, no taxation for capital gains and dividend income is a super advantage so many Singaporeans which not know. A lot of people just want to flip properties causing prices to rise. Seriously stock investment is so much better.
FFS, the pay here is pittance compared to actual 1st world countries. Coupled with long working hours, we will be dropping flat on our beds the moment we reached home.
A lot of Singaporean millennials haven't thought about retirement. My parents taught me to work hard first and enjoy life later. I hustled (still hustling) hard after university and I'm glad I heeded their advice. Achieved financial freedom in my 20's through real estate and stocks but retirement is too early. Invest in U.S. stocks for higher returns. SG is pretty slow unless there's s recession like last march.
This two even worst than the last two advisors. Everything also CPF. Never cover inflation. Never cover market returns, everything also rely on budgeting. I dont know whether this is advice for 20-30 or 40-50. If 20-30 cannot take high risk then who can?
I am a Portfolio / Fund Manager. Forget about all these fake pros. The safest investment is to purchase an Index like S&P500. No single or professional fund manager has ever been able to beat the indices consistently over the long term like 50 years.
Not many fund managers have a track record of 50 years in the first place but Buffet certainly beats the indices over 50 years. Notable Investors like Munger, Lynch, Soros, Druckenmiller and Dalio have track records beating the indices across a long period of time. And you can't purchase the S&P index directly, you can only purchase an ETF like ticker: SPY/VOO/IVV that tracks the S&P. Most fund managers can't beat indices even in shorter terms like 5-10 years, that is because they don't have to, due to hedging (e.g maintaining liquid for clients), fund structure and pressure from fund investors on short term volatility. Well, for most people buying ETFs is fine as you are suggesting.
CNA as a Singaporean Media channel, places so much emphasis on the importance of CPF. Well, its sponsored by the Singaporean government after all hahah. Doing some simple homework and investing in an ETF like the S&P 500 / SPY beats the 4% returns by a long shot. Staywoke Salaryman
Actually I can tell u based on experience... I am a financial advisor and I actually tell many of my clients that are in the middle class to invest in S&P 500... just buy the ETF.. even though I can sell UT and actually make money.. I know for sure S&P 500 ETF for passive investing makes the most sense for people that dont know investing.. And I can tell u... hardly anyone listens and actually wanna do anything. To many people.. CPF is save and they will just do it.. So not wrong for CNA to show case that too..
CPF FRS 186,000 is 2021 rate. Is this rate still valid for Gwendolin Mah , who is only 33 yo at 2021 + SG ruling party ever changing policieis on minimum sum ?
It's funny how people keep mocking cryptocurrency as an asset class - yes, it's volatile, but it isn't only about speculation. They can keep mocking crypto as they had for the past decade, but I'll keep making money off of it in both the bull and bear markets. Glad to be financially independent before I even start working - no thanks to CPF
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got talking about investment and money. I started investing with $120k and in the first 2 months , my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and gets more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.
@AustinWalker67 Quitting may not be the best approach if you ask me. This is where an AI comes into the picture. I barely have time to trade myself as my job swallows up most of my time. Alice Marie Coraggio, a licensed fiduciary whom has made me over 5 figures in profit in less than seven months, handles my investments. I could leave you a lead if you need help.
@@scottkarl2514 Great!! please can I start trading with him from los Angeles? He is quite famous, I've been hearing about him at work, for a while now, with many recommendations.
Heidhar is single and he does the 20,30,50 rule. i am married with 2 kids but i save more than 70 percent of my take home pay. I dont earn alot, just a little abit higher than the median income. But my wife is working as well and she saves 70 percent of her take home pay. We have a maid too but i pay my maid's salary from my liquid cash savings that i have..so dont really touch our existing monthly salaries. I do the cooking most of the time so we dont necessary waste money dining out. I do have alot of cash savings in high yield accounts but didnt touch investing as i have zero clue. For now this works for me still. With zero investing knowledge, which is a low risk investment tool that can almost guarantee ( i know its not guaranteed) at least 3 percent?
As I'm not sure how to do stock investing, I just top up CPF in SA.. Not OA. Bought a house and reliance on OA is minimal. Hope I'm on the right track.
Sorry I actually don't get how Heidhar allocates his salary, saving 20%, 20% goes to his parents and 50% for investment, and 155$ for his insurance premium... correct me if I'm wrong: assuming 40k is his annual net income, that means on average he has around 3k plus income per month from his job alone.. if there's only 10% left for his necessities isn't that only around 300$.. I'm not Singaporean so I don't get it and wonder how is it possible to live on with that amount of money, and although his living with his parents? Is the parental allowance for the parents to do whatever with it or to pay for the household needs... appreciate if people can help me make sense of Heidhar's
Hello Rayz, thank you for your interest on Heidhar. Well, first of all, he has stopped saving because he has maxed out his Savings requirement (6 month worth of his basic salary). He gives his parents $500 (17.8%) every month, he pays $155(5.5%) for his Insurance, and $1000 - $1,400 for his investments, depending on whether or not he bought $tsla stock that month. So after all that, he is left with $750 (25%) for his expenses, including his bike, food, and basic necessities. He doesnt shop much, he does not drink either. Matter of fact, $750 is more than enough for him. Sometimes, he use some of his $750 to swing trade in crypto, to which he donates the profits to the charity. Hope this helps!
@@hyderembi3366 hey buddy thanks so much for the explanation, if that's the case then it makes better sense to live around with such amount...do you suggest 750$ at disposal an amount that could get a decent quality lifestyle in Singapore? I still have a little doubt that 750 could do much there...my knowledge about SG is pretty limited to what I observed from RU-vid and some news reading, I know that things are not cheap there so I'm still left with a lot of questions as to how to live a decent life in SG (because I like SG as a country though) and how much is needed at bare minimum to get through things there..you did a good job though so thank you
Yeah one good thing I noticed that many Singaporeans despite income level have this very attitude of giving back to parents..very commendable and I believe the society would continue to prosper if everyone behaves this way 👍👍👍
@@rayiscoolandawesome I wished I could give you a direct number to your question, but in your case, it might be slightly different, I guess? You intend to rent a room/apartment here? Otherwise, a decent expenses, I would say $750 should suffice the basic expenses here.
@@hyderembi3366 yeah just factor out the accommodation and all others i.e. investment, parents allowance..just for personal daily needs like food, public transports, some entertainment... thanks man
That the Government keeps pushing forward the retirement age tells us they already knew retirement is just a dream and an unattainable goal for most people. Ok, just listen to the Government when they tell you some people just love to work and will work until they drop dead.
I agree to this to a certain extend. I just need 2/3 growth stocks, 1 Index Fund and 1 Hedge instrument. I wouldnt need to diversify more afterwards because Indices are pretty diversified.
Yeap, boomers tend to be more conservative in their portfolio. Cant blame them because they have 1. less Time horizon to take in more risks, 2. went through 2008 Market Crash. hahaha. must give them chance bro :D
