Futu Brokerage – MooMoo Singapore Promotions

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Here comes another brokerage in Singapore – Futu Holdings and under the Singapore name “MooMoo”? Sounds kind of fishy but legit.

From their website:

Their investors include Tencent Holdings, Matrix Partners and Sequoia Capital. Sounds decent to me.

Futu Holdings Limited (“Futu”) (NASDAQ: FUTU)is an advanced technology company transforming the investing experience by offering a fully digitized brokerage and wealth management platform .

Futu was listed on Nasdaq on March 8, 2019.

Under MooMoo, they are under the Singapore branch, https://www.moomoo.com/ and from time to time they will run a promotion to fund the brokerage account to get 1 Apple share. Although after setting up the brokerage, maybe buying Futu stocks in the US stock exchange might be a good idea given their backing.

After Tiger brokers, here come another commission free brokerage mobile platform with similar functions and good promotions. It seems like the apple share promotion has ended. If you wish to sign up for those commission free perks and/or future promotions, do use my referral code here: https://j.moomoo.com/004Fsa

  1. Currently, the promotion would run for 600 days free commissions.
  2. Also if you fund USD 2k equivalent. there is a USD30 credit.
  3. Plus free level 2 market data.

Disclaimer

If you decide to sign up with Futu Brokerage, do remember to use my referral code: https://endowus.com/invite?code=EDZ8M

If you like what I am sharing or if it resonates with you, do use my referral codes for other services at https://lifejourney.blog/contact/

These pictures were taken off Futu/Moomoo website for reference.

SNACK – Microinsurance

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As I have said, I am a firm believer of insurance but not a firm believer of agents. I am of the mind that there are invested interest. Even the most honest guy needs to earn a living but I have yet to find anyone who is able to pass my test. More often than not, I tend to DIY on my own so most of my plans are generally bought online. The exception is that during the early years, agents used to manage those that I bought.

Why Insurance?

Let’s face it. Everyone needs to transfer their risk and that is a fact. Whether it is term or whole life plans, it is up for a debate but no best answer. You need health insurance, life insurance, disability insurance, travel insurance, car insurance and the list goes on. My only grip is that DIY stuff comes cheap but you have to figure out how to to that on your own. Nothing wrong with that but it comes in as a pain when you don’t have time to manage those stuff.

Try Microinsurance

Personally, I feel that it is fine to try out a cheaper alternative of insurance just to get yourself covered at the lowest cost possible. SNACK is by Income and recently introduced this concept of microinsurance. I find it appealing personally coming from someone who understand how these things work. It kind of like supplement what i have existingly.

I think that the Income branding is starting to change and this helps with the brand image. At least they try to speak the millenia language. Next, I find that with such low cost products – There will be less barrier to entry. The difficulty in this solution is to educate people. It is much easier to say that it is complicated than trying to find out what this is all about.

Once you sign up online and register the amount you can commit daily, every document will be sent to you via email or digitally. Quite simply, I would say.

They are 3 ways your can choose to buy insurance from (Choose 1 or whatever you need):

a. Critical Illness

b. Personal Accident

c. Life Insurance.

You can also trigger these daily costs from a few parts:

a.  Redeeming a deal from Burpple or pay for meals using a VISA card.

b. Commuting bus, train or cab and pay for it using a VISA card.

c. Through retailing and purchases using a linked VISA card.

d. Shopping for groceries using a linked VISA card.

e. Through entertainment and paying using a linked VISA card.

f. Topping up petrol and paying using a linked VISA card.

g. Pay your utilities and paying using a linked VISA card.

h. Activate your fitbit app and fulfilling your daily steps.

You may be thinking what happens if you hit every objective. There is a limit to the premiums charged to your credit or debit card depending on the weekly cap you’ve set up. Once you’ve hit this weekly cap, SNACK will no longer charge you premiums when you complete lifestyle triggers and you will not be issued any more policies for that week.

The minimum amount daily you can set is $0.30 and you can add on as many triggers as you wish.

There is also a cap on each insurance segment:

a. For Personal Accident, the cap is at $100,000

b. For Life Insurance, the cap is at $200,000

c. For Critical Illness, the cap is at $200,000

These insurance are known as non-participating policies so the moment you stop paying for these, the coverage will stop. To me it is a stop-gap kind of coverage and at an extremely low cost. If you are looking at the full suite, take time to understand and learn. You will definitely benefit from the knowledge and to suss out your new insurance agent. Whether they are in it for the long term or to hit and run. We will never know unless we experience and have the basic knowledge.

Disclaimer

This is not a sponsored post. This is purely my own opinion after using their service and/or products. If you like what you are seeing, do remember to check they out and do your diligence. There is no one size fits all investment strategy.

If you like what I am sharing or if it resonates with you, do use my referral codes here at https://lifejourney.blog/contact/ for the services.

The pictures were taken from SNACK website for this article. If you need a referral code, please use my referral code “PAU4055” and both of us will be rewarded with additional $500 coverage for personal accident. Visit here https://www.snackbyincome.sg/ to find out more.

Everest Gold

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The sound of Everest Gold is not exactly sound and safe at first notice but they are a new digital trading platform. You can trade gold digitally now, akin to a stock brokerage account. There are a number of articles out there from bloggers and online news that talks about Everest Gold.

Trying it out

To try it out, you do not need to put in any money. All you need is to use my referral code and your will be awarded 200k points which is approximately USD 20. These rewards can be used to subscribe for gold during their events.

  • No need for any transactions. Just make sure your details, bank accounts and everything is verified.
  • Referral is limited. Not sure if they will be bringing this back but in Oct 2020, the fee was 300k points which is approximately USD 40.

Referral

Use this link to find out more if you are interested at Everest Gold or use this referral code when you decide to sign up: TZLLE. Both of us will get more rewards for subscription.

History

A little dig up of the company. Everest Gold is a Singapore-based  fintech gold trading form. The creation of such a service is to digitise gold trading and makes it easy for both beginner and expert investors. It is suitable for anyone who have interest in gold trading. I personally have also tested their customer service team and response is pretty decent.

Everest Gold uses 999.9 pure investment grade gold. 1kg bard are from a refiner in switzerland. You can also download them from an app and investing starts from 1 gram. From what it seems, anyone can trade and liquidate almost immediately. Physical gold assets can also be collected from their depositories by submission of a request in-app.

Disclaimer

I do use this service and by signing up as a referrer, both you and I will get some benefits.

As with all investments, there are risks involved so please do your own diligence.

If you like what I am sharing or if it resonates with you, do use my referral codes for other services at https://lifejourney.blog/contact/

The pictures were taken from the Everest Gold website for this article.

Grab Invest (Robo)

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During the earlier part of 2020, Grab announced an acquisition of a wealth start-up, Bento. The have since re-branded them to be GrabInvest. It looks like they have ambitious plans to expand into South East Asia with Singapore as its base. We have seen quite a number of new services and products that Grab has been rolling out. That is the benefits of having strong backers as well as a branding that aims to disrupt some industry. I’m not too sure how big they can become but they have been throwing marketing dollars for some time to build their brand. You can read more about the acquisition here at Bento As GrabInvest.

Invest, Save and Grab

It sounds like Grab is going to bring out the brand in their app once more. They probably want to integrate this into the Super App that we often hear about. The tag line is pretty effective I say.

Almost No Barrier to Entry

It takes only a small amount to start investing. I don’t think Syfe and StashAway has a minimum amount to start investing but this set them apart from the usual investing through micro-investing. I’m not too sure about the effectiveness though.

Saving Money

Each time you use the app to do certain actions, you get to choose an amount that will be used to invest automatically. Good habit though.

Spend

There is no lock-up for your funds so you can transfer your money back to the wallet anytime. Talk about flexibility.

Underlying Investments

Okay, looking at how things are. This is similar to the other robo-advisors as to their cash solutions. The underlying funds would be Fullerton Fund and UOB asset management. My guess is the usual short duration bonds or assets as close to cash funds. Due to the nature of the expected returns projected at 1.8% p.a., it is most likely the case.

Fees are simple at 0.45% p.a. Similar or higher than other solutions. If you ask me, I’ll go for Singlife account where you can deposit up to S$10k at 2.5% p.a. and it is SDIC protected. Micro-investing versus Singlife – Singlife wins hands down but integration wise and branding, Grab edges forward a little more.

Read about my previous post on Singlife here at Where to Park Your Funds? Singlife

For excess funds of more than S$10k, get into Dash and Earn. The first year will be at 2% p.a. capped at $20k. Then go for Tiq Gigantiq at 2%p.a. (For the first year) capped at S$10k. On the options available, I’ll give grab a miss unless I have too much spare cash in their wallet that I can’t take it out.

Conclusion

It seems like it is a hype for now. Other for convenience, I can’t find much differentiation from the rest of the many options available in the market except for convenience. It doesn’t help that Grab is trying to take over the world by trying to integrate everything. I don’t support a monopoly so that is a minus. However, I do think that there are other services which will show up on the app in the near future. Coupled with the fact that digital banking license will be announced in Q4 2020 or in 2021 should there be any delay. As a consumer, we should be happy about competition.

I do see more pros than cons though, given their history of data breaches and bad marketing. Also, I don’t see that they are MAS licensed or approved nor are they working with any financial institutions other than the mentioned fund houses or asset managers. On top of that, monies are held in custody of Grab. Reading their Terms and Conditions, it seemed like they got their own ass covered as compared to the consumer so I’m not too sure about that.

I still don’t see it on my Grab App even after updating the app so I’m wondering how buggy their app can be over time.

Disclaimer

This is not a sponsored post and purely my own opinion that I am writing about in my thoughts. If you like what you are seeing, do remember to check they out and do your diligence. Don’t be too fixated with what is the best.

If you like what I am sharing or if it resonates with you, do use my referral codes for other services and products here at https://lifejourney.blog/contact/ for the services.

Images seen in this article were take off the relevant websites for illustration purposes only.

Save more when you shop more (Shopback)

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Shopping for groceries, ordering food from the food apps and online shopping has taken over the world. Covid-19 has made the world to go online and digital in over a short span of time. I find the transformation amazing to the point where businesses are starting to show that they value the digital aspect of promoting their products and services. In Singapore, I do see that many businesses are transforming and redesigning their businesses to a different model as before. However, there are still those black sheep who are out there to just cheat or jack prices up to profit from scarcity.

Shopping

Speaking of shopping online. This is a really cool site to download the app into your mobile phone. This is a local company named Shopback. It gives you cashback into your account for any online spending. These days, you can link your credit card and once you spend on your credit card, the cashback automatically gets credited to your Shopback account. Talk about convenience. There is a new function that Shopback has and that is to purchase vouchers directly from Shopback. You can even use the credits from the cashback you received from previous purchases. That’s stacking more deals and more discounts.

Cashback

Each time you use your card on eligible brands and products (F&B, hotel staycation, vouchers and etc…) there will be a cash back amount allocated to you. The cash will be credited to your account ranging from 3 days to 3 months depending on when the merchant pays them for referring or recommending their products. To a certain extent, it is similar to affiliate marketing. Instead of paying out in marketing costs, the merchants pay affiliate marketers to promote their brands and Shopback gives back a portion of that commission back to the consumers as a form of incentive.

Enough said about getting more bang for your buck. Try it out and see it for yourself. We both earn a $5 bonus once you use my code and spend $20. Easy Peasy.

Save more by using ShopBack to earn Cashback. Download the app and sign up with my referral link to get $5. You can thank me later! https://app.shopback.com/OXuizVNBy9

Even More Cashback?

With the recent 9.9 sale, using a Citibank credit card seem to net you more cashback than usual. Something like additional 3% more cashback but not too sure when that would last till. Promotions don’t last forever so while stocks last. You can actually buy online vouchers from Qoo10, comfortdelgro, grab mart, grabfood, grabtaxi, pupsik, fairprice, GV and more

During random periods or campaigns, they may have upsized cashback deals which doubles the % of deals to your account once you make a transaction. From local brands to big global brands, grocery shopping and ticketing. I’ll say it is a no-brainer.

Disclaimer

This is not a sponsored post and purely my own opinion that I am writing about in my thoughts. If you like what you are seeing, do remember to check they out and do your diligence.  Don’t be too fixated with what is the best.

If you like what I am sharing or if it resonates with you, do use my referral codes for other services and products here at https://lifejourney.blog/contact/ for the services.

Images seen in this article were take off the relevant websites for illustration purposes only.

The Brave Browser (Side Hustle)

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Side Hustles are stuffs that you need to take time to work on so being lazy or saying that it is too troublesome doesn’t make the cut. There’s is going to be some level of work or readings that is required to understand how things work. Some things work out and some doesn’t but my style is that I try it out, figure if it works, how it works. Calculate the time spent and or effort and if it is worth doing the side hustle. I guess constantly reviewing your side hustles is also key to saving time.

Brave Browser

As I do some form of crypto investing in my portfolio and exploring crypto apps, I came across this browser which is named as Brave. This is similar to Google, Bing, DuckDuckGo and many more. They are similar search engines just that they have curated advertisements instead of those massive adverts that you receive while surfing on the internet.

Downloading the Brave Browser is easy. Visit https://brave.com/ and choose the file to download.

Sign up and login the Brave Rewards to check on the rewards you have obtained.

 

You can then set the maximum number of advertisements that will push to you. You can also download the browser on your mobile app.

Before you get the BAT credited to your wallet. You can sign up for a Gemini or Uphold Crypto Wallet account to temporarily hold the tokens.

Before you start, if you have content, Websites, YouTube, etc… to connect your channel to, you will need to verify your channel. One way is through WordPress plugin. It is not instant and requires sometime to verify so be patient. Visit here to read more: WordPress Installation Guide

Benefits of the Brave Browser

  1. Pages load 3 to 6 x faster.
  2. Importing and continue where you left off.
  3. Support your favourite sites with Brave Rewards
  4. Safer Browsing with privacy and security
  5. More curated advertisements which you can view to get some BAT Tokens.

You can send a tip to my website if you wish to.

There is a guide here to do so here: Thank you for your support

Disclaimer

If you like what I am sharing or if it resonates with you, do use my referral codes for other services at https://lifejourney.blog/contact/

The pictures were taken from the Brave browser website for this article.

Electricity Retailer – Open Electricity Market (Saving on your bills)

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The Singapore electricity market decentralised some time around 2015 and that made way for the big commercial companies to change their electricity supplier. The bulk of electricity are consumed by the business/commercial companies. As an estimate, the ratio of consumption is probably around 65/35 in terms of consumption. The Open Electricity Market started out in phases since November 2018. There was a trial run for 100k households and small businesses in the Jurong Area in April 2018 and these guys get to save at least 30% off the electricity bills! That is such a good deal and a first mover advantage.

The Start of OEM

Since November 2018, it was a phased launch to open up the entire Singapore to all residential households and smaller businesses. By May 2019, Singaporeans can choose the electricity retailer of their choice. It is interesting and unique to see this happening in this small island because SP Group is the monopoly in such nationwide infrastructure. I used to know nothing about the electricity market until such an initiative was discovered. The fact that SP Group remains as the electricity grid provider and transmission lines is indeed unique only to Singapore.

What this means is that all generation in Singapore has to go through the National Grid and in return, the power supply remains consistent, stable and reliable. Not much of a difference I would say.

If there are power outages or blackouts, the whole responsibility still lies with SP Group and you have to contact their 24-hour hotline. These outages has nothing to do with the generation firms. So the key question is still, how is it that these retailers can provide a lower pricing as compared to regulated tariff. (Electricity Rate Tariff is revised every January, April, July and Oct)

Electricity Retailer

From digging up articles and information online as well as speaking with the respective retailers, the simple answer to this question is:

Regulated tariff was formulated. It is similar to how Airlines price their seats which oil prices play a part in that calculation. From only buying electricity from SP Group (It takes in and calculate the 2.5 months of Brent Oil in USD) as part of the formula.

The retailer price, however depends on the bring of electricity they buy from the wholesale market (www.emcsg.com) and from their portfolio in Electricity Futures.(Which is traded in SGX) As a result of a different formulation, this allows the retailers to price in roughly about 15-25% cheaper as compared to the Regulated Tariff.

There is an interesting write up that talks about how prices are cheaper from Ohm Energy here Ohm Market Outlook. Of course, there are also retailers who are willing to absorb all costs to get more customers. As long as there are no hidden costs, we stand to benefit.

The Power to Choose

Now, for the exciting part. there are a 12 choices to choose from. We, as consumers should benefit from the increase in competition from different retailers. I will try my best to let everyone know what are the things to look out for before you switch to a retailer:

Not just the Price

a. First thing first – Do not sweat the small stuff. Cheap does not mean that it is good. Cheap is just the first step to getting your attention. Prices can be compared at the Price Comparison Website which is the official comparison website at Compare

Good Reviews Online

b. Check out the reviews first. You can go to Facebook, Google, Retailers’ website, Value Champion, SeedlyReviews and many more. Do not underestimate the power of reviews. Don’t let cheap cover your eyes.

This retailer penalises you for forgetting to renew your contract at 5% off the tariff.(What a rip-off! I’m sure there are a few more of such retailers around) A friend of mine told me that Geneco, Tuas power and Union Power renewed their contract at 10% off regulated tariff so please check your contracts.

Renewal Clauses

c. Look at the renewal clauses. It is extremely troublesome to keep switching retailers once every 6/12 months. Some retailers are just out there to rip consumers off by renewing you on a bad renewal contract if you forget. You have to write these guys off permanently.

Choice of Billing

d. What do you prefer? Consolidated fuss-free billing or more separate billing?

What Type of Plans?

e. No perfect plans. Just what s more comfortable for you.

  1. If you want to be paying cheaper than Regulated Tariff then go for the Discount off Tariff price plans. The cons is that if the tariff goes higher, your rate may be higher as well.
  2. If you wish to have some form of fixed pricing, then go for the Fixed Price plans. The cons is that if the tariff goes lower, then your rate will remain at the fixed rate.

Fees and Hidden Charges

f. Take note of Fees and Charges. If you want to just take on a long term contract, make sure you do know the criteria if you can transfer your contract to a new address without incurring an ETF or other fees.

  1. For example Early Termination Fees if you terminate your contract Early.
  2. Late Payment Charges
  3. Transmission Loss Charges
  4. Extra fee for Hard Copy bills
  5. Fee charges for failed payment (Credit Card/Debit Card)
  6. Fee charges for failed GIRO application
  7. Admin Fee if you failed to provide the proper documents to a retailer

Consumer Safeguards

g. There are consumer safeguards so there is no need to worry that your lights will go off. It’s just that it is going to be a little troublesome if anyone goes bust. You can read more about these safeguards here: Consumer Safeguards

It is a no-brainer and there is no catch. Just switch and you are on your way to cheaper bills. You just need to be wary about the retailer you choose from. There are no risks – What you have is literally a financial contract on a rate you agree to sign up on for a certain period. (If you decide to go on a contract plan) If you wish to go on a no commitment, no contract plan, you can check out Ohm Energy. They are one of the rare retailers who offer such plans.

Who did i choose?

Personally, I really prefer Ohm Energy. You can check them out here at Ohm Energy.

Positive and Good Reviews

A. The reviews are literally positive and they look rather solid. They are also Most Popular at Seedly Reviews.

Great Customer Service

B. The customer service seems to be the center of all the buzz which I really like. When I have a query, the response that i get from the customer care is quick and concise. Not quite what I have seen elsewhere.

Nice Colours and Branding. Even the Name Sounds Cool

C. The branding is just appealing to me and everything is done online. I am so done with roadshow salesperson. They are just out there for a single purpose.

Renewal Bonus

D. When you renew, they have a renewal bonus and also they renewal you at the market rate during the renewal period. That is fair.

Referral Program and more Savings!

F. You can also refer as many friends as you want. That is S$20 for both referrer and referee with no cap. Thumbs Up!

Consolidated Bills

G. Consolidate SP Billing with them means that the payment arrangement, Security Deposit, Hard copy bills all remains the same. That is really easy.

Trial Period

H. For New Customers, they have a three month trial period to try them out. If you decide to switch out before then, there are no fees involved. That gives me confidence about how much they are willing to let you “Try them out”.

If you do select Ohm, do remember to use my referral code: OHMREF3F28B7 (Input into the promocode field and click apply at Step 3 of the application)

Disclaimer

If you like what I am sharing or if it resonates with you, do use my referral codes for other services at https://lifejourney.blog/contact/

The pictures were taken from the respective retailer and EMA/OEM website for this article.

Where to Stash (Dash) your cash and Grow Money (EasyEarn)

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Stashing Your Cash

In my earlier posts, I talked about the need for an emergency fund and other than Singlife, which caps the 2.5% p.a. for the first S$10k. No other financial institutions have been able to match this super high interest yield for a pretty risk free approach .(Given that Singlife is under SDIC so the first S$75k is covered and safe) In recent months, we have seen some insurtech or alternative ways to put your money and entice people with relatively decent interest rates for your cash/emergency funds.

Emergency Funds

To recap, your emergency funds should have some level of liquidity so that you can utilise when necessary and not be penalised for doing so. This is by far my personal first rule. It is extremely interesting and exciting to see what might happen to the digital banking sector where there is a mixed bag of consortium lining up to be licensed to offer financial services. It looks like it is going to be something similar to what these insurtech is offering or even more innovation. (e.g. bundled products, higher interest rates or even offering curated financial products, robo-advisors and payment channels) It does seems exciting to see what new innovation these services can offer and retail customers will benefit from this digital drive.

Dash EasyEarn

Dash Easy Earn is a collaborative work between Dash (Singtel payment service) and Easy Earn (Tiq – An Insurance arm of Etiqa and a subsidiary of Maybank)

Let’s go for the Pros first:

a. Flexible no lock-in period hence no penalties for cancelling the plan.

b. First year interest rates stands at 2% p.a. (So this part is locked in and low interest rate environment is set to stay)

c. Relatively low barrier to entry. With S$2k minimally as maintenance amount that you keep, you get the interest accrued on a daily basis.

d. Capital Guaranteed.

e. Interest earned can be transfer to Dash Payment Service with no extra charge and they have a suite of deals and payments which you can use to pay your bills with. There is a $2 cashback for your first Singtel Dash transaction! Sign up with the referral code DASH-RYJKN or tap on this link https://appserver.dash.com.sg:443/mgm?DASH-RYJKN now

f. You can top up anytime to this account.

g. 105% of the account value is the sum assured should something happen to you.

Now for the Cons:

a. You need to download and register for yet another app. This is the Singtel Dash App. I mean, I really hate Singtel but I will not say no to free money.

b. You have to remember to maintain at lease S$2k in the EasyEarn Account.

c. 2% p.a. only applies for the first year and I believe that it will drop to 1.5 % p.a. thereafter. (From the terms and conditions: *Guaranteed 1.5% p.a. + 0.5% p.a. bonus for first policy year, available on a first come, first served basis) – Seems like there is sort of a cap to this.

d. There is a maximum amount to this. Once you have Topped Up to S$20k, that is the cap for every individual account. So there is this element of troublesome to remember and track for a 2% p.a. but if it suits you, then by all means go ahead.

e. Here is the key part to this which you will not hear it from Dash themselves. For any transaction that you transfer out via PayNow back to your own transact or savings account, there is a payment fee of S$0.70 per transaction. This is free if you transfer to Dash payment as described above for Pros point (e).

Seriously

To some, the S$0.01 is money which they refuse to let go of but to others, not so much of a great deal. Don’t be penny wise pound foolish or you will never see the bigger picture. You will not gain anything by spending time and energy on pinching 1 cent. I personally know 8 out of 10 people does it and it annoys the hell out of me. If you have time to pinch 1 cent, I would rather you take that time to find ways to make $10 instead of ruining your own mood, wasting your time and fussing over the small things. I don’t get it and I still don’t today.

The User Interface

Here is how the screen looks like on the Dash EasyEarn App. You can see the Grow Money (New) in the Dash App which you can access and see your funds and interest. Do note that the interest are not accumulative though so it means that whatever you have in excess of S$20k earns no interest.

When you log in to EasyEarn, that is how the app looks like below.

Conclusion

Before I end off, I saw an interesting product which is on similar terms as Dash EasyEarn. They are from Tiq Insurance – meaning GIGANTIA but this works in their own Tiq App. (First year 1% + 1% p.a.) I’m not too sure why they have something similar to Dash EasyEarn. There can be a variety of reason. It could be that they have extra tranche of funds to offer customers or it could be that this is a longevity version of their product as compared to having inflexible Dash systems. I would explore Tiq option as well but let’s see what kind of proposition it makes to consumers.

If you like what I am sharing, do use my referral codes here at https://lifejourney.blog/contact/

Disclaimer

This is not a sponsored post. This is just a tool and exploration to find out cash solutions, interest rates as well as a market survey. It is never too much to learn and know more about.

This picture image was taken off Singtel Dash and EasyEarn for illustration purpose only.

 

Singapore Reits or not?

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Singapore Reits is something that many Singaporeans understand and take heart to. Some folks actually build their income/passive income via this source and I can see why.

My take on Reits on SGX

a. First it is based in Singapore – There is this local bias that it can do well given most people like to see for themselves if the malls are working out well in terms of retail quality, crowd, spending and how many shops are still in business.

b. SGD payouts avoids the currency risks. For a retiree or someone drawing on income from dividends, this payouts serve as a source of bill payment.

c. An alternative and cheaper way to enter the real estate market in Singapore is really through the reits/stock exchange. I know that people will argue that it is different but technically in my view, it is the same (And you do not need to pay stamp duties, get a mortgage and pay sales charges)

d. It is more liquid than real estate.

For a long time now, Reits have been growing big and popular within the investing community. Again, all investments comes with risks – Most people have more comfort in dealing with things they can see or get a sense of. For a long time, there have been plenty of wins for reits but as you can also see, the Circuit Breaker period in April through May have affected them in a way or another.

Diversification?

So again diversification is key to investing once more. If you put all your eggs into the Reits for passive income, then with such dividend cuts your bottom line is definitely affected. Currently, it doesn’t seem like this Covid situation is going back down or slow down whatsoever so dividend cuts is going to be prolonged in order to save businesses and jobs. Then again, there are certain sectors who might see a booming business such as Data Centres or even certain suburban reits. Sub-urban malls are definitely crowded but the former shopping aisles in orchard and high end malls are definitely missing the tourist crowd which rakes in the cash and spending. It is no wonder why people are worried about their livelihoods.

It is not all doom and gloom. Sectors will emerge while some will recover. It is definitely time to pick up some if you did not have any. The idea is to really have a long-term goals when you pick a stock and stay disciplined. Once you sell it off, you may never be able to pick back the company at their valuations again.

The Passive or Lazy Choice

If you are lazy, let Robo-advisors do the trick for you. For e.g. Syfe. https://www.syfe.com/ Initially i only took on the Reit+ portfolio some time in April 2020 to test it out so that I do not need to manage the portfolio and incur those trading fees. They have expanded other products such as a Global ARI portfolio (Long term investment into equity,bonds and commodities) and Equity100 portfolio which is 100% into global Equity ETF (US and UK listed ETFs)

Auto-rebalancing

Syfe has invented their ARI (Automated Risk Investing) methodology, which is a risk-based rebalancing strategy, which changes the allocations of your portfolio according to changes in risks in the market in order to limit your losses. In short, once it triggers a certain level, the system will trigger an alert and things start to sell off to re-allocate. It also means that over the longer term, you will naturally see a better performance of the portfolio.

Every rebalancing of course depends on what portfolio you choose from so everyone is different. I personally like the idea of investing into a portfolio of reits instead of picking it on my own. In terms of fees, it depends on your investment amount with them.

In terms of pricing, I think it is cost effective. Do find out more about it here https://www.syfe.com/pricing

a. Management fee per year is at 0.65% p.a. for investment amounts S$0 – S$20k.

b. Management fee per year is at 0.50% p.a. for investment amounts S$20k – S$100k.

c. Management fee per year is at 0.40% p.a. for investment amounts S$100k and above.

Do use my referral code to get some benefits when you sign up a new account with Syfe. Referral Code: SRPTSMQ5J

You will get (Find our more about their referral scheme here https://www.syfe.com/magazine/how-can-i-invite-a-friend-to-join-syfe/) :

a. S$10 bonus if you invest S$500

b. S$50 bonus if you invest S$10,000

c. S$100 bonus if you invest S$20,000

Disclaimer

This is not a sponsored post. This is purely my own opinion after using their service and/or products. If you like what you are seeing, do remember to check they out and do your diligence. There is no one size fits all investment strategy. 

If you like what I am sharing or if it resonates with you, do use my referral codes here at https://lifejourney.blog/contact/ for the services.

The pictures were taken from Syfe website for this article.

The difference between all Chas cards & all Singaporean gets it

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The Chas (Community Health Assist Scheme) card is for all Singaporeans! Yes, that’s freebies for all Citizens but wait, what is the catch? Well, there are different cards for different segments. There are a total of 5 different segments with two other more pronounced as a benefit for the Merdeka and Pioneer Generation. Then comes the Green card which has the lowest subsidy, followed by the Orange card for lower income households and the Blue card to help out the low income households. The criteria also looks at the Annual Value (AV) of the home that you own.

Chas Cards

CHAS cards can be used to see the doctor or dentist at participating GPs and dental clinics. For referrals to specialist outpatient clinics at public hospitals or the National Dental Centre. You will get a subsidy depending on your type of card you are eligible for.

With the new CHAS Green tier, all Singaporeans with certain chronic conditions can now receive subsidies for their treatment costs, regardless of income. Definitely a plus for all Singaporean Citizen.

From the Chas website, you can check your eligibility on their online calculator. Given the current situation, “You can apply online – It is recommended to so do in light of the current situation.”

Application

Apply for CHAS via the online application. Singapore Citizens aged 21 and above can apply for CHAS online on behalf of their household members.

Alternatively, you may download a hardcopy application form here. Once completed, please mail the form (and supporting documents, if any) to

P.O. Box 680, Bukit Merah Central Post Office, Singapore 911536.

Your application will be be processed within 15 working days from the date of receipt of the completed application.

If you have not received the outcome after 15 working days, you can visit the CHAS online application and login using your SingPass or call the CHAS hotline at 1800-275-2427 (1800-ASK-CHAS) to check on your application status.

FAQs

More of Chas FAQs can be found here: https://www.chas.sg/faq_list.aspx?id=626

Disclaimer: These are just solely opinions of mine. Taking care of your own health is also part of being financially free. Taking steps/transferring these risks to avoid those hefty medical bills is also part of financial planning. Being prepared for such events whether it happens to you or someone you know is also a harsh reality which we should be prepared for.

If you like what I am sharing or if it resonates with you, do use my referral codes here for other services at https://lifejourney.blog/contact/

The pictures were taken from the website for this article.