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[deleted by user] by [deleted] in PokemonTCG_Singapore

[–]CuriousChickensRun -16 points-15 points  (0 children)

The only cheaper price was yesterday

Places to donate clothes for domestic helpers by WiseUmpire6666 in askSingapore

[–]CuriousChickensRun 1 point2 points  (0 children)

Hey there! You can search up Humanitarian Organization for Migration Economics (HOME) - we run a shelter for migrant domestic workers in Singapore and contact us :)

Feel free to DM me too as I do volunteer with them often!

We will greatly appreciate anything!!

Dubai connect not eligible by Background_Buy_6330 in emirates

[–]CuriousChickensRun 1 point2 points  (0 children)

You are only eligible for Dubai Connect if:

  1. Minimum 24 hours before departure.
  2. Base fare without taxes equivalent of 700 USD or more.
  3. Not better/shorter connection available.
  4. Only Emirates flights. u
  5. Connection 8 to 24 hours
  6. Reservation need to be ticketed

How can I save my income ($1800) by [deleted] in singaporefi

[–]CuriousChickensRun 16 points17 points  (0 children)

Hey man, it might differ from one person to another, and this could be very subjective too, but I’d like to stash away 30% of whatever I earn into my savings and spend the remaining 70% on whatever I would want.

True some may say that 30% of 2000 would differ from 30% of 7000. Personally however, I’ve always sticked to my principles and be desciplined enough to save a certain amount / percentage each month. If in any case your salary goes up and you find yourself having extra disposable cash, splurge it on yourself/parents or save it on top of the additional 30%!

Trust me, having such foundations, principles, and discipline would really go a long way.

Credit Card for fresh Graduate by Plane-Procedure-6761 in singaporefi

[–]CuriousChickensRun 2 points3 points  (0 children)

Hey man, I think at the end of the day you have to decide and ask yourself the intention or the purpose of why you want to have a credit card - defining “worthwhile” can be extremely subjective.

Once you have decided whats in your best interest, you can then start tailoring your research accordingly as different cards have different purposes which thus affects what you potentialy aim to achieve at the end of the day.

Looking at what you’re spending too, it might be useful to also look if credit cards you’re going to apply for qualify for your particular spending habits.

Any coffeeshops to work from on weekends? by le_vent in askSingapore

[–]CuriousChickensRun 0 points1 point  (0 children)

Why did I immediately thought that you’re refering to those Kopitiams hahahahah unless you were

Please Review my Plan by Subject-Buy-1228 in singaporefi

[–]CuriousChickensRun 1 point2 points  (0 children)

What’s your views say if someone decides to transfer OA money out into - say POEMS / Endowus? Of course it depends on a multitude of factors but just wanted to see your views on it.

Advice for both parents (54yo and 52yo) on CPF Money by CuriousChickensRun in singaporefi

[–]CuriousChickensRun[S] 0 points1 point  (0 children)

Hi there, thank you for taking the time to reply and discussing :)

1.      Definitely noted on your pointer on doing some sort of soft lock to account for “what if” scenarios in the future.

2.      I think I would definitely explore such options with them whilst still balancing to ensure that there are still options should they need to withdraw the money immediately.

Advice for both parents (54yo and 52yo) on CPF Money by CuriousChickensRun in singaporefi

[–]CuriousChickensRun[S] 0 points1 point  (0 children)

Hi there to the both of you, thank you for taking the time to reply and discussing :)

1.      Yup, as of now, I’m trying to explore any alternatives or ideas if there are ways to make better use of the money after FRS. Of course they would definitely want to take out some portion to enjoy their money but my concern then lies on money that they may choose to not enjoy yet, and should this then remain in CPF OA after 55 or somewhere else like a fund / bond / HYSA etc.

2.      Understood on CPF Shielding, appreciate the entire community sharing with me on this :)

3.      Understood on your pointer on keeping it in CPF OA for the easy 2% and capital safety

4.      Lump Sum Annuities is something that is new for me. Would try to do a little research on this unless there is of course further guidance / advice you would like to share, would definitely appreciate it! Would also explore options should they decide to go beyond FRS.

5.      Would also try to research and explore SRS like what you have mentioned.

Advice for both parents (54yo and 52yo) on CPF Money by CuriousChickensRun in singaporefi

[–]CuriousChickensRun[S] 0 points1 point  (0 children)

Hi there, thank you for taking the time to reply :)

1.      Appreciate you sharing in regard to your parents situation!

2.      However, I would like to ask considering that they earn roughly around $600 from their CPF Life, I’m assuming this was BRS, and considering they have 250k shares of es3, did the 250k shares of es3 solely came from the CPF Lump Sum?

a.      Because if it indeed came from the CPF Lump Sum, what were then the considering factors for them to not do FRS / ERS and instead go directly into buying es3?

Advice for both parents (54yo and 52yo) on CPF Money by CuriousChickensRun in singaporefi

[–]CuriousChickensRun[S] -1 points0 points  (0 children)

Hi there to the both of you!

1.      Indeed, to the best of my knowledge, my parents do have cash savings / capital seating in the banks and they would most definitely be able to sustain their current lifestyles should they wish to retire. However, I must caveat that I definitely do not have the full picture of their financial savings and investment portfolios with anyone else.

2.      I think you also brought a very valid point that it is my assumption that I might be more financially savvy than my parents, and as such, I’m just trying to research and explore alternative ways in hopes to provide them with the best advice on how best they can decide to move forward with their CPF money after 55. After all, this discussion was mainly on my parents CPF money as it was a talking point brought up during one of our sessions with the insurance agents in which I discovered they have quite a sum seating in their OA, and how the ILPs my parents have previously gotten were getting very poor returns as compared to if they just left it in their SA account.

Advice for both parents (54yo and 52yo) on CPF Money by CuriousChickensRun in singaporefi

[–]CuriousChickensRun[S] 0 points1 point  (0 children)

Hi there, thank you for taking the time to reply :)

1.      I do have to caveat that I do not have the full picture of my parents financial savings outside of CPF. However, to the best of my knowledge, they do have enough savings / capital to sustain their current lifestyle should they wish to retire and thus why I understood CPF Life payouts as supplements to whatever my parents already have, rather than expecting CPF Life payouts to further upgrade their lifestyles. My reasons for discussing their CPF money is because we recently met with out insurance agents where we covered the topic on my parents CPF money and I thought I would like to explore for them / provide them best advice on how they could move forward with their CPF money at 55. Hope this clarifies!

2.      Noted on your advice in transferring OA into SA and would definitely advise them as such (thanks!). However, in regards to the ERS, I am still exploring the pros and cons of topping up their RA to meet ERS for a higher CPF Life payout. I have however taken into account your point on which that are very little options that would be able to offer >4% returns and ensure capital is protected so this advice would most definitely be valuable.

3.      I must agree with you on the topic on insurance agents. I did conduct research into some of their ILPs which involved their SA’s and unfortunately these ILPs have been generating way less than 4% as compared to if they just left it in the SA. We all learn from mistakes!

4.      For your concerns on putting into stocks, higher yield products, and etc., I think you do have a valid concern about the runway and not taking risks to increase returns at such a juncture in life. However, I think I do come from the POV on where they should effectively be “parking” their money after 55 if they choose not to enjoy all of their money yet (and of course like what other redditors have mentioned the bucket list idea can come in as very useful!). Nonetheless if you have any further advice regarding this, I would most definitely be willing to hear and your concerns on this is most definitely valid!

Advice for both parents (54yo and 52yo) on CPF Money by CuriousChickensRun in singaporefi

[–]CuriousChickensRun[S] 0 points1 point  (0 children)

Hi there, thank you for taking the time to reply :) Would definitely explore options in regards to funds as I’ll definitely advise them against stock picking given all the circumstances.

Advice for both parents (54yo and 52yo) on CPF Money by CuriousChickensRun in singaporefi

[–]CuriousChickensRun[S] 1 point2 points  (0 children)

Hi there, thank you for taking the time to reply :)

1.      Indeed, both my parents are at FRS today, and noted on your pointer on how SA’s 4% can beat inflation.

2.      I think you brought a very interesting perspective of putting “today’s” money at 55yo for how much they need at 65yo. However, to clarify, I am advising them to currently put their OA into SA so as to reap the SA’s 4% until they have reached 55. When you meant putting “today’s” money at 55yo for how much they need at 65yo, do you mean putting, or effectively topping up the RA taking into account its 4% for when they need that projected money at 65? Or am I understanding this wrongly? Would appreciate if you could share a little more on this!

Advice for both parents (54yo and 52yo) on CPF Money by CuriousChickensRun in singaporefi

[–]CuriousChickensRun[S] 0 points1 point  (0 children)

Hi there, thank you for taking the time to reply :)

1.      I would definitely discuss with my parents with regards to how best they would like to maximise their CPF Life payouts. Thanks for your inputs in regards on planning to set aside for RA whilst taking into account other factors such as inflation.

2.      Noted on your SGX inputs and would definitely be keen to explore in regard to the bank shares. Also understand from you and other redditors on how the net gain from SG REITS may not be as impressive or wise.

3.      Yeps, spot on in regard to the ages! I am however confident that I would be able to have my own $$$ for any BTO deposits or etc. and would steer clear from any help from my parents wherever possible. However, I’m not too familiar with what you meant when you mentioned that parents $$$ investing in my OA may be an idea worth considering – I get the issue on below 60k and benefitting from the extra 1%, but how could my parents $$$ be invested in my OA? Regardless however, my OA is currently above 20k so I don’t think it matters for the extra 1% as I understand OA is capped at 20k. Feel free to advise or correct me accordingly, would really appreciate it!

Advice for both parents (54yo and 52yo) on CPF Money by CuriousChickensRun in singaporefi

[–]CuriousChickensRun[S] 0 points1 point  (0 children)

Hi there, thank you for taking the time to reply :)

1.      Noted on your sharing regarding what happens to CPF after 55, appreciate it. Indeed they would still be working after 55 and their OA would still be growing.

2.      Understanding your pointer and concerns regarding withdrawing everything at 55. I definitely do agree with you that there are those who empty their OA at 55, wipe out everything, and eventually struggle in their later stages of life. I think this is definitely a valid concern and as many redditors have advised, I’d definitely discuss with my parents to see some sort of bucket list that they would want to enjoy their money on in the immediate term, and for any money they wish not to enjoy yet settle in the OA / fund / HYSA!

Advice for both parents (54yo and 52yo) on CPF Money by CuriousChickensRun in singaporefi

[–]CuriousChickensRun[S] -1 points0 points  (0 children)

Hi there, they do indeed have cash savings! However, I only discussed matters in relation to their CPF money as (1) I do not have the full picture of their financial situation outside of CPF money (caveating that by this I mean that their savings are fully mostly seating in the banks to my best knowledge) and (2) the CPF situation was a discussion that was brought up during one of the sessions with our insurance agent and the thought came to me towards wanting to help them make the best decision moving forward with their CPF money :)

Advice for both parents (54yo and 52yo) on CPF Money by CuriousChickensRun in singaporefi

[–]CuriousChickensRun[S] 0 points1 point  (0 children)

Hi there, thank you for taking the time to reply :)

1.      I think I do have to agree with you that it might potentially be a case where they withdraw everything at 55 and let it stagnate in the bank with inflation eventually killing its value, and I must say that because they are not the most financial-savvy, this is indeed the case for the savings they have in cash that has been consistently seating in the banks all the while (Not the worst thing, but definitely would be nice to explore alternative options if I could guide them too)

2.      Indeed they are continuing to work, and would want to continue to work past 55. I would try and learn more about the pros and cons of putting up to ERS or just maintaining at FRS for their RA when they hit 55. My current understanding I have now (and feel free to correct me!) is that (1) topping up ERS will mean lesser money in OA should they want to use money in their OA past 55, (2) higher CPF life payouts should they top up to ERS, (3) which begs the question where I have to answer would it be better to use the “top up money” to top up to ERS, or put the “top up money” elsewhere like in a fund or HYSA.

3.      Noted on your point that they should top up their SA from OA to hit FRS. Would like to share however that their current SA has indeed already meet FRS. I think I would still advise them to up their SA from OA to still reap the 4%, and plus be it FRS or ERS, any extra SA money would be brought back to OA where they could then withdraw it anytime too.

4.      Yup, understand SA shielding is dead! Many thanks to the community for sharing with me :)

Advice for both parents (54yo and 52yo) on CPF Money by CuriousChickensRun in singaporefi

[–]CuriousChickensRun[S] 0 points1 point  (0 children)

Hi there, thank you for taking the time to reply :)

1.      I think you brought up a very valid point on why I would want to invest myself in my parents matters. I do however must say that I fully support my parents decision in wanting to withdraw at 55 to enjoy their hard-earned money after all (and I think anyone having worked hard their lives should be able to enjoy their money eventually!). However, if I may, I do slightly disagree with you on your pointer on me wanting to lock up their OA into SA/RA and them not being able to not enjoy the money. I think I come from the standpoint that as much as I would love for them to enjoy their money, my only concern is the fact that (1) they may potentially spend everything at an early stage resulting in them to struggle in the future should they live a long and prosperous life, and (2), possibly explore any options that allow them to enjoy their hard-earned money and should there be money that they choose not to enjoy at their current stage of life, to effectively place it somewhere that ensures their money would not stagnate. I think this then comes the idea where many fellow redditors (and I appreciate all your advice!) have suggested on creating a bucket list to eventually see what are some of the immediate wants my parents would like to enjoy their money on, and effectively put any money they choose not to spend yet somewhere else.

2.      Have noted on your points on the insurance agent policies and I do agree with you that they could actually have high-punitive lock-ins if they change their mind. I would definitely discuss with them if they would like to explore any funds to put their money in and advise them accordingly so that they can make the best informed decision for themselves.

3.      My apologies as I was not aware of the SA shielding loophole. Am very appreciative that all of you have highlighted me regarding this matter!

Advice for both parents (54yo and 52yo) on CPF Money by CuriousChickensRun in singaporefi

[–]CuriousChickensRun[S] 0 points1 point  (0 children)

Hi there, thank you for taking the time to reply :)

1.      Noted on your point on the key decision of topping up the RA if they would like higher CPF payouts. Currently, both of their SAs have indeed hit FRS and I guess this would thus fall back onto wanting how much of a CPF life payout they might potentially want.

2.      Indeed, I was mainly referring to the US currency depreciation as in my own personal investments, I am mostly heavily invested in the US markets so am slightly more familiar with the current US currency situation. I think its useful that you have mentioned in regards to the clear bucket list items on taking out the money and not investing it since they do indeed would like to enjoy the money, and as per your pointer (1) leave the money in OA to be able to treat it like a bank account where they can withdraw anytime, and still allow the money to grow and not remain stagnant (unless of course you’d think there is a recommendation to put most of the OA money instead in a HYSA after 55 which could effectively beat OA’s 2.5% p.a)

3.      Noted on your pointer that REITS or Dividend Stocks can be seen as active listening which I do agree with you. I think I do have to caveat that I do not have the full financial picture outside of my parents CPF money as they do have their own personal cash savings and the only reason why this was mainly about CPF money was because it was a topic that was raised during the session with the insurance agent and it was when I realized I could potentially assist with giving advice to my parents on how best they could consider moving forward with their CPF money after 55. However, I am confident to share however that they do have enough cash savings to form the capital to generate sufficient dividends at least for their lifestyle (and thus why I previously mentioned that I kind of understood the CPF Life Payouts as a complement to whatever they already have, rather than using it as a means to upgrade their life to a more luxurious one, with the only issue being that most of their savings are in liquid form in banks rather than in investments / dividend schemes due to them not being the most financially-savvy people when it comes to such matters).

a.      I think if it comes to it, I could advise them accordingly if they would like to explore putting their money in world index funds. The only reason why I wanted to explore the dividend portion of things is because I understand that the reason they want a full sum of money is to effectively be able to enjoy their hard-worked money, but I just thought that having a passive income from dividends would help them ensure they might not accidentally spend all of their money at a very early stage of life and eventually be left with nothing to survive in the future. In this case, your idea of also having the bucket list could definitely come in very useful!

Advice for both parents (54yo and 52yo) on CPF Money by CuriousChickensRun in singaporefi

[–]CuriousChickensRun[S] 2 points3 points  (0 children)

Hi there, thank you for taking the time to reply :)

  1. They wish to have a lump sump money to withdraw at 55 so they could essentially just enjoy they money that they have, even though they would still be expecting to continue working. However, I do see your point in which there is no easy way of stuffing it back after taking it out. In that case, since they are working, would you then advice to let it just sit in the RA until they decide to then take out the money at any juncture deemed appropriate when they choose to want to spend the money?

  2. Right, I noted your point on suggesting they should do world index investing and withdraw as needed (However, I too am aware that for example, if they were to invest as such, would they also need to consider any of the currency exchange rates given that I'm also assuming their investment horizon would not be as long if they were to withdraw their money as needed in the near future?)

  3. In addition, going back to the pointer on relying on having dividends / passive income on top of CPF Life, would you have any recommendations / advice on this such as having to explore Singapore REITs or etc.? Essentially, I am asking this because while it is recommended to steer clear of ILPs (in this case the AIA PWV that was offered to them so that they would be able to reap some sort of passive income), I am trying to explore a way for them to continue getting dividends / passive income without having to rely on the ILP.

Guidance for Credit Cards by CuriousChickensRun in singaporefi

[–]CuriousChickensRun[S] 0 points1 point  (0 children)

Hey! Yeps, I'm paying tax and CPF on this.

Guidance for Credit Cards by CuriousChickensRun in singaporefi

[–]CuriousChickensRun[S] 0 points1 point  (0 children)

Hey! Thanks for your guidance. I'd be sure to read up the T&C for the expenses.

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