Category: New Ideas

Exploring new concepts and ideas

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

On By RistrettzIn New Ideas, Personal Finance Series, Wealth & HealthLeave a comment

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:

All 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.

iswitch

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.

Ohm

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.

2

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://atomic-temporary-178675883.wpcomstaging.com/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)

On By RistrettzIn Alternative Income, Interest Rates, New Ideas, Personal Finance SeriesLeave a comment

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.

1

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

2

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://atomic-temporary-178675883.wpcomstaging.com/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?

On By RistrettzIn Alternative Investments, Deals, New Ideas, Personal Finance Series, Robo AdvisorsLeave a comment

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://atomic-temporary-178675883.wpcomstaging.com/contact/ for the services.

The pictures were taken from Syfe website for this article.

The difference between all Chas cards & all Singaporean gets it

On By RistrettzIn New Ideas, Wealth & HealthLeave a comment

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.

Ways to make some money & Reviews

On By RistrettzIn Alternative Income, New IdeasLeave a comment

This is not a click bait. I have always been interested to find out what is there in the market when I see such headlines but eventually it is usually click baits. One of the many ways to make some money online if you have time is actually through doing online surveys. The best part of it is that you can take your own time to do it.

Though you may miss out on some high value surveys but eventually it is suited to your own timing. I will review some of those, past and present and I have personally used them. Only if the time is worth your effort, you can proceed go sign up or use my referral link. It is totally up to every individual as it may not be worth the effort for some. However, if you have some time on hand – The answer is Why Not?

Make Some Money

I will run by the ones that i find the easiest to use and easy to cashout. Most importantly, you should sign up for a PayPal account if you do not have any. It is really easy to sign up, just visit https://www.paypal.com and there is no referral fee for this. Just for easy survey credits

Milieu Survey (Singapore)

Milieu Survey has a Singapore presence. Once you have chalked up enough points, you can either donate them away or Otherwise, you can choose to cash out via PayPal or PayNow. 

$10 can be redeemed with 9500 point and $20 can be redeemed with 18000 point.

Once you complete 7 surveys, both parties get 500 points each.

Key in the referral Code: DbKjxMP 

Google PlayStore – https://goo.gl/eTHTya

Apple Store – https://apple.co/2MmnprL

YouGov SG

YouGov is based in London but they also have a Singapore presence. Surveys doesn’t come as frequent as Milieu but once you accumulated enough. 5000 points redeem a S$25. There are also alternative but to me cash is always King. There are no referral benefits so click the link to sign up.

https://sg.yougov.com/en-sg/account/login/

Google Opinions

This is rather tricky as it is not for Apple/IOS users. Android Users will be able to download and setup their account. Surveys come at random and you can also set a notification. Once you reply, it varies from S$0.10 – s$1.50 or so. You can’t cash out these but you can use these credits to supplement subscriptions or pay for some paid apps that you wish to buy off. It’s just easy to use, answer and keep. Practically no upkeep. There are no referral benefits so click the link to sign up.

https://play.google.com/store/apps/details?id=com.google.android.apps.paidtasks&hl=en_SG

Valued Opinions SG

This requires a little more effort but as for the rewards, I personally find it rewarding with Zalora or Cold Storage vouchers (via Edenred voucher redemption). However, with the recent covid – They seem to be less productive or less efficient. Vouchers redemption seems slower and also seem to be out of stock faster. There are no referral benefits so click the link to sign up.

https://www.valuedopinions.sg/

Rakuten Insight

Rakuten re-branded a few times in the past. Their surveys take longer than most but once your accumulate 150 Epoints or more, you can redeem $10 via PayPal. Redemption starts from 75 Epoints for $5.

https://sg.m.aipsurveys.com/

Disclaimer: These are just solely opinions of mine. You should try them out first to review if they are suitable for you. These works for me as I have tried out more than 20 of these during my free time.

If you like what I am sharing or if it resonates with you, do use my referral codes for other services at https://atomic-temporary-178675883.wpcomstaging.com/contact/

The pictures were taken from the respective websites for this article.

New Changes to MoneyOwl Fees

On By RistrettzIn Alternative Income, New Ideas, Robo AdvisorsLeave a comment

MoneyOwl is an initative from NTUC Social Enterprise. They are sort of a Robo-advisor coupled with a suite of wealth planning tools such as will writing and insurance solutions. What really attracted me is their rather simple way of investing and using Dimension Funds as part of their portfolio construction.

As a retail investor, you will most likely not be able to access such funds. When the market tanked sometime in Feb 2020, I picked a few Robo-advisor to invest into and look into performance a few months later. Almost six months has passed now and I will most likely show some of the performance in my later posts but I must say, by doing nothing much, all advisors reported positive returns as compared to my own stock picking.

Changes to MoneyOwl

Recently, MoneyOwl announced that they have lowered their investment advisory fees as well as absorbing the platform fees.

a. For Asset under management S$10,000 and below, there will not be any fees through 31 December 2021. This fee will be rebated back to the portfolio. So take note that only Cash investments are eligible for this rebate. The cash management accounts do not have these in place and your total portfolio value has to be above S$50.

b. There is an introduction fee of S$99 which is worth about S$535 for a comprehensive Financial Planning. Money Owl’s advisors will sit down with you to review your portfolio with detailed report and recommended next course of action. (~2 hours)

c. Additionally, they are introducing free financial resilience workshops to focus on cash flow management and debt management. Likely through Webinars and anyone can join in.

It is nice to see that as a partner to our national social enterprise, they are making moves to help Singaporeans. The reduced fees on investments which is one of the key points in long term investments. The more fees you pay, the more it affects your own portfolio performance.

However, they should really look into improving the interface. (for e.g. making it into an app) They also introduced a referral fee scheme or some promotional fee scheme for new sign ups. Not much complains other than that.

Follow us visit my blog if you like what you read at https://atomic-temporary-178675883.wpcomstaging.com

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 for other services at https://atomic-temporary-178675883.wpcomstaging.com/contact/

The pictures were taken from Money Owl’s website for this article.

When is it time to invest?

On By RistrettzIn Macroeconomic, New Ideas, Personal Finance Series, Robo AdvisorsLeave a comment

We hear a lot of this all the time. Our parents, our friends, our colleagues and everyone. There isn’t any in my opinion. Some may beg to differ but there really isn’t any the way the see it. There is an actual science to this because it really depends on what kind of person you are. No one will manage your money better than yourself. There are three dimensions to this how I see it.

Your Life Cycle

Life-Cycle – Depending on which part of the cycle one is in, you will change the way you invest and how you want to invest. Different stages in life provides you with different perspective and capability to do certain aspects of financial tweaks. Some get a head start while other don’t but that is not the end goal. It is your objective that is key – No one should just carbon copy a portfolio or process. This is customised and should be based on your own circumstances.

How much you have to invest?

How much you have – This is really a sticky question because the real fact is that no one knows. I am of the mind that your own networth and liquidity is for your own to know and manage. Unless you own the millions that you can’t manage because time is what you need, this would apply to at least 90% of the folks out that. How much can you afford to save or take out that does not affect you paying off your bills on time depends on your financial situation. I remember when I first started out, the salary I have is for my own takings. The very first thing I did was to spend almost all of it. It isn’t smart but we all learn.

Paying yourself first

Paying yourself first is essential in building a bigger pool. The first $1k, $10k, $25k $50k, $100k will be exponentially easier with every milestone. However if you don’t start, then the milestone will not be met. Regular saving plans/investment does help in this process. Using the envelop technique is also recommended for guys who are really starting out.

Time – This is a large and essential part of everything else.

First, you need to find time and give time to learn and experience. No one grew up knowing everything, all of these lies with exposure and experience. Some gets it faster than the rest while others manages this slower. Like an exercise buddy, the journey is long but if you persist and encourage one another, it will ride for a long time.

No excuses – Is Netflix and the next PlayStation more important every other day? Educating and understanding finance takes time and effort. Even if you hate it, try it in a smaller scale model and gradually increase it over time. I can certainly say that over a time period, it will become second nature.

Second, You do not have a warchest overnight. You need to build it. No one knows when is the next drop, what is the next promising industry to go into. No one knows who is the next unicorn or donkey but through time, you will eventually find out about your own strength and sense of investing.

My four points on a good time to invest

These four points in my opinion sets the basis of what is a good time to invest. TLDR:

a. Anytime is a good time to invest as long as you have a plan and you know what you are doing

b.Do not invest more than what you require to pay your bills.

c. Start early, start young, the later you start – the tougher it is. It is never too late but the results will be less than one would expect.

d. Learn as much as you can so that you are well-equipped. Today, there are too many tools around to learn and see.

I also do understand that by saying “When is a good time to invest?” It will attract criticism as to “timing of investment”

Timing the Market?

I would also want to address this issue of timing. It does no one any good if you time the market. No one has the crystal ball.

a. Start by splitting your warchest into different portions. Be disciplined and when market drops, buy some then don’t expect these to turn unto profits overnight.

b. Keep an eye on what you are investing especially if you are buying into a company. Investing into index funds leave you to a more passive investor. We shall not talk about Core and Tactical management of investing this round.

c. Regular investing also helps. Find mutual funds or portfolios who have in-lined principles to what you belief and stick by it.

d. Remember to always review. Things change and so do us as humans during different life cycle.

Small Note

P.s. As you can see, my beliefs is as such that all things work in an ecosystem (Before it gets disrupted). Smaller efforts gives greater confidence and these translate into positive energy, mindset and clear mind. Then, this brings you to another aspect. When this Eco-system is in place, many of the things we have discussed earlier will be a second nature and you would know how to react accordingly.

My Take on Robo-Advisor

Personally I like to use some form of Robo, systematic investing such as Endowus. It also cancels out my liking of timing my Buy-in timing.

  • Most importantly, the cash related funds uses a big institution related fund manage such as Dimension Fund which is not readily accessible to retail investor.
  • They have shown that they return the rebates they receive from the fund houses instead of absorbing it to pay fees to Banks/Financial Institutions as recurring revenues
  • All funds invested are held on behalf by UOB Kay Hian and held in my own name so funds are safe I say.
  • My only grip is really about the buy time which I have no control over. By the time the markets drop, I’m not sure when my funds are invested but on the bright side, it means it is consistent and disciplined trading.
  • Relatively lower management fees which means more compounding interests for all. That is good news.
  • I also like that they only debit the management fees at the end of the quarter instead of taking money at the start. Tells a lot about how they want to be different. Say no to upfront fees.
  • The first Robo-advisor to be able to invest using CPFIS. I think they were also the first to be able to use SRS to do so as well. That makes one more level up as CPFIS only approves certain funds that you can invest in. This makes it flexible to invest using Cash, SRS and CPFIS.
  • If you use my referral code to sign up and invest minimum S$10k, we both get $20 each which can be used to offset the management fees to keep their lights running: https://endowus.com/invite?code=EDZ8M

Disclaimer

Money is not everything – They say (Who? I don’t know). Without Money, there are lot of things we cannot do. With proper money management, these will slowly go away and your mind’s will be clearer. With a clear mind, things unravel. An end is always where new things start. Be positive and do not be bound by just money.

This is also not a sponsored posts. I used it and I like what I am seeing.

If you like what I am sharing or if it resonates with you, do use my referral codes for other services at https://atomic-temporary-178675883.wpcomstaging.com/contact/

The pictures were taken from a few websites for this article.

New Referral Scheme from Singlife

On By RistrettzIn Alternative Income, Interest Rates, New Ideas, Personal Finance SeriesLeave a comment

This is really a great piece of marketing work from Singlife. Though late into the referral game, this is some good way to get and garner new acquisitions. It is well known that Singaporeans are pretty starved for yields. This insurtech firm is one that I have wrote about recently and it is a good product.

(Updates 1 Nov 2020): I received an email from Singlife communications – As a heads up, Singlife Paid Referral Programme will come to a close on 1 November 2020.

All referees (i.e. people who have been referred) who have successfully in-forced their Singlife Account by 1 Nov 2020 will have up to fifteen business days (i.e. 20 Nov 2020) to order and activate their Singlife Visa Debit Card for both you and your referee to still qualify for the S$10 referral bonus. 

You also probably received an email from them on 30 Oct 2020 notifying of the upcoming termination. 

As from their excerpt:

“Singlife’s Paid Referral Programme has enjoyed a successful run and will come to a close as of 1 November 2020. Thank you for all your support! Upon the Effective Date of Termination (1 Nov 2020), all referees who have successfully in-forced their Singlife Account(s), by the Effective Date of Termination, will have up to fifteen business days (i.e. by 20 Nov 2020) to order and activate their Singlife Visa Debit Card to qualify for the S$10 bonus.”

Still, the good and bad and them. It is still a decent alternative cash source.

The Good about Singlife

I’ll have one more strong and valid point to date with this referral scheme.

  • A referral fee of S$10 is deposited in your Singlife account for each friend you invite to Singlife and there are no cap for this. Each friend gets S$10 too so if you find this useful, do use my link to sign up here: https://app.singlife.com/S49MSfXlF8
  • SDIC covered
  • Relatively high interest rate for the first $10k
  • Simple and fuss-free – registration and login all done online
  • You can also spend normally like what a debit card does, having a functioning physical card.
  • Transfers are all ifast which is really impressive and same day receipt
  • Customer service is pretty responsive and quick to reply (Live chat and email)
  • Some form of insurance is complimentary including retrenchment insurance (It’s not a lot but it is a nice gesture)
  • No-contract, no terms no fees when you withdraw.

You can read my previous post about Singlife: https://atomic-temporary-178675883.wpcomstaging.com/2020/06/26/low-or-no-interest-where-to-park-your-funds/

Find out more here: https://singlife.com/

Disclaimer

If you like what I am sharing or if it resonates with you, do use my referral codes for other services at https://atomic-temporary-178675883.wpcomstaging.com/contact/

The pictures were taken from Singlife website for this article.

Get $5 when you sign up with Google Pay & make a transaction (Until 31 July 2020)

On By RistrettzIn Alternative Income, New Ideas, Personal Finance SeriesLeave a comment

This is really a quick kill for a good deal. It is the usual way of spending money to get more users. This is pretty straightforward and it is an easy one to get. All you need is just to sign up for google pay using this link here https://g.co/payinvite/t74cf8f

All the way through 31st July 2020, when you download Google Pay from this referral link, you will be able to receive a free $5 cash after performing an eligible transaction.

Referral Programme (until 31 July 2020)

a. You earn $5 once your friend makes his or her first payment using Google Pay. The transaction must be at least $10 to qualify. (or PayNow to your friend)

b. You can earn the reward only once for each friend whom you have successfully referred. There are no caps.

Once you have signed up using my link, you can then continue sharing your own referral link to as many friends as you would like. In return, you and your friend $5 cash each for each successful referral! 

How it works?

Send your invite link for everyone to download Google Pay.

For invitees who are on IOS devices, they must enter their mobile number on the Google Pay page that is prompted before installing the app. The login must be the same as Google Pay to qualify.

You can insert a referral code if you have downloaded the app however you must not make any transactions on Google Pay before.

You will then earn S$5 and your friend S$5 if they make their first payment of at least S$10 on Google Pay by 31 July 2020 23:59 Singapore time and payment is successfully process. Also, assuming that it is a first time user as well as a first transaction.

At the time of writing, you can do this by linking your PayNow account to OCBC account (Currently that is the only way to do so) and make a transfer from there. This is the easiest and fastest way to get the perks.

It’s quite easy and simple to do. Although it takes a bit of an effort but I think it is worthwhile while they still have marketing expense to spare. Have fun referring! Please do use my referral link if you think this is of value to you. Sharing is caring – Cheers!

Disclaimer

If you like what I am sharing or if it resonates with you, do use my referral codes for other services at https://atomic-temporary-178675883.wpcomstaging.com/contact/

The pictures were taken from Google Pay website for this article.

A SIM only telco – GIGA (Part 1)

On By RistrettzIn New Ideas, Personal Finance SeriesLeave a comment

In the past, there used to be only 3 players in the telco market – Singtel, Starhub and M1. They sort of formed into a monopoly where 5.2 million people on the island will choose either of the 3 companies. All things change when Circles.life came into the picture and to be honest, it was such a game changer that almost instantaneously switched to them at the earliest time possible once my contract was up. Notably, Singtel has the best coverage in Singapore and underground but they were keen on only making profits for themselves.

The comparison

After some time, all three incumbent were forced to break off from their current model into a SIM only plan. This has been really great for consumers in particular as more competition means more competitively prices plans and better customer service. Of course, the incumbent truly matched the competition and eventually I switch out to GIGA, a SIM only plan from Starhub.

Benefits

The real benefits of going with GIGA means that for a basic plan,

a. S$18 for 20GB of data, 200 mins of outgoing calls, 200 SMS, free caller ID and free incoming calls and incoming SMS.

b. For unused data, you can carry over to the next month (Capped at 2x the base data – 20 GB x 2 = 40GB

c. No contract means, flexibility and freedom to cancel the contract anytime.

d. Signup is digital only – meaning you can only sign up online. You can use the GIGA app to access your account as well as setup your payments. They accept most major credit cards.

e. There isn’t any IDD so for for overseas usage. You would need to buy either gigaRoam (Asia Pacific) or gigaRoam (Rest of the world)

f. There is a small registration fee. You also need to arrange for the SIM card to be delivered to you. However, you can use a referral code to supplement the discount. You will get a one time $20 gigabucks off the 25GB plan or a one time $42 gigabucks off the 50GB plan. Use my referral code – “LhS9Ng”. The referral credit is only valid for any plans except the basic $10 GIGA plans.

Others

The downside of using GIGA is that you can’t surf the internet while on a call. (E.g. checking for emails or stuffs while on a call. However, if you have your WiFi switched on, it works perfectly) You can still receive OTP (One time Pin) while still on the call so that’s not too much of a worry.

Generally, I like the interface, colours and customer service support on GIGA. They even have a live chat function but you need to clear your cache regularly as it seems like it is stuck on my app most of the time. It is fuss-free and simply to use. I’ll say that they are trying hard to evolve and re-invent themselves. I don’t have too much faith with Singtel and GOMO so this is my next best choice.

GIGA just launched a 40GB data, 300 SMS, 300 outgoing calls at $20 for 12 months. It is still a no contract plan but that it reverts back to $30 a month from the 13th month onward.

From time to time, they will launch limited time offers like the one above. You can visit their website to find out more: https://www.giga.com.sg/

Disclaimer

If you like what I am sharing or if it resonates with you, do use my referral codes for other services at https://atomic-temporary-178675883.wpcomstaging.com/contact/

The pictures were taken from GIGA website for this article.