All about Tiger Brokers

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I may have been a latecomer in the free stock game here but there’s always a opportunity or rather opportunity cost. Regardless of the time and period, if there’s something to gain or benefit from recommending certain products. I don’t see why we can’t do that. There have been a recent trend in growing a trading platform of late and in doing so, offering too good to refuse perks such as free “1” shares of popular and big capitalisation US equity companies.

Before I begin, I need to say that I’m working with Tiger Brokers on this sponsored content. Personally, I have used them and cost wise, it has been one of the more effective trading apps I’ve used as compared to traditional brokerage.

Tiger Brokers Perks

Tiger has a professional trading platform with easy-to-navigate design, quick online account opening, and funding. Tiger support trading global markets that include US, HK, Singapore stocks, and more. Tiger is offering every client benefit below when you do an initial funding of 2000SGD or estimate 1550USD:

1. Registration: 500 Tiger Coins
2. Account Opening:
Stock: 60 commission-free trades within 180 days for stocks of U.S., H.K., Singapore & Australia
Future: 5 commission-free trades for Futures within 30 days
3. First Deposit SGD 2,000
Stock: 1 free Apple (NASDAQ: AAPL) share

I just want to qualify for you to take note that you can’t send in a test transfer like initial $1 and the balance $1999 on the second transfer.

Due to some system related constraints, these are the issues that came up. I know that end of the day, what’s the difference as long as it makes up the whole sum. I have feedbacked to them and we shall see what they say.

In Summary, you have to complete an initial transfer of the full amount to the Tiger Broker Designated account that was opened in your name to be eligible for the promotion and free stock.

Read the updated Terms and Conditions here: https://www.tigerbrokers.com.sg/welcomerulesg?lang=en_US&contentId=153

Updated to be correct until 30 September 2021.

To apply directly, click here to use my link: Tiger Broker Account Opening Link

Thank you all in advance. I may give you a little extra if you use my link to sign up. Just drop me a private note once you have done so and funded the account.

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. Just take note to use this code to get your Tiger Perks – “WELCOME321

Now, if what I am sharing does resonates with you, do use my referral codes here at Referral and Recommendations

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 Tiger Brokers website for this article.

A New Singlife Grow & Referral Scheme

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Singlife is offering up to $35 when you sign up for Singlife Account and their Singlife Grow. I’ve been following them for a while now and I realised that they have been promoting their GROW ILP account. I’m not sure if it took off well but given how there is marketing dollars to promote seems like it is encouraging a higher take up rate.  To get the $30 from grow, it takes very little effort. If you are an existing Singlife Account, you will still qualify for the Singlife Grow reward as long as you have never applied for Grow portfolio before. Just take note to use the code to get your credits – “ki02dAhi

The new scheme and promotion

There isn’t a lock-in period for your funds, and you can withdraw without penalty but it seems like there is a cap at S$20,000 per account per day so do take note.

The interest mechanic

On top of the sign-up gift, you also get 0.5% p.a. additional returns for your Singlife Account when you set up your Grow portfolio which is a nice cherry on top of the sign-up bonus. This gives you 1.5% p.a. on your Singlife Account for the first $10,000.

Not to mention that if you complete the $500 spending per month, you get an additional 0.5% p.a. and that makes it 2.0% p.a. on your Singlife Account for the first $10,000.

The Additional Perks

As all promotion goes, do some form of diligence and check out the Terms and Conditions to understand what you are putting your money into. Read it here: Terms and Conditions

The Cash Mechanic goes like this.

a. If you are not an account holder, sign up using this code ki02dAhi + order and activate the Singlife debit card to get a S$5 sign up bonus

b. If you are an existing customer then check GROW out.

  • Sign and apply for your first GROW policy using this code ki02dAhi + Fund your first GROW policy with a minimum of S$1000 to get a $30 sign up bonus.

In short, if you are a new customer, your max benefits will be S$35 and if you are an existing customer, your max benefits will be S$30.

The Real Deal, GROW ILP (Investment Linked Plan-ILP)

Without doubt, I scrutinise at the term ILP. Personally, I have terminated 2 ILPs that I bought some time back without knowing what I was going into.

Singlife Grow is primarily an investment ILP with very minimal insurance. You don’t have to pay high upfront commissions nor high assurance charges, and no lock-in period for your funds. However, I’m not quite sure if there is a fund switch function and what the bid-offer spreads are like.

Singlife Grow is more of a hybrid robo-insurtech /advisor perhaps and I can’t really classify them under any sorts but for sure they are in the Insurance industry so hence the term ILPs. They are not the typical ILP which loads the consumer even before the investing starts so that’s a plus.

However, do take note of the investment risks so it can go both ways and there’s no guaranteed returns.

  • I understand that the fund managers who will be managing your funds will be from Aberdeen Standard investments
  • There will be three different class of investing, namely (Conservative, Balanced and Dynamic). Allocations can be found here: Grow Factsheet and the investment breakdown
  • They are also under ESG (Environmental, Social and Governance) which is a big thing these days as people approach sustainable investing.
  • Coverage will be 101% of Net premium or Account value (In the event it has gone up much higher)
  • Fees will be 0.25% per quarter of the account value. (Management Charge)
  • No Cost of Insurance (Excellent)

Some important information to note:

Singlife Launches Member Get Member Programme, Rewarding New and Existing Customers S$35 for Every Referral

Benefit

  • All referrers and referees receive S$30 when the referee signs up for Grow, and S$5 when the referee creates a Singlife Account and activates their Singlife Visa Debit Card. With no limits to the number of referrals, customers can continue to refer and receive more rewards.

The Grow ILP – Investment Linked Plan

  • Singlife’s Grow is an Investment-Linked Policy (ILP) with portfolios managed by Aberdeen Standard Investments. Accessed through the Singlife App, customers can manage, save and invest simply through a single interconnected platform with absolutely no lock-ins. For more information on Grow, visit https://singlife.com/grow/.

The Flexibility

  • The Singlife Account continues offering the same flexibility customers desire with no lock-ins or withdrawal fees, and better peace of mind. For more information about the Singlife Account, visit https://singlife.com/manage/ However last I tried, there is a cap of S$20,000 limit of transfer out per account per day so do take note.

The physical card

  • The Singlife Account is Singlife’s flagship everyday insurance savings plan that comes with a free Visa Debit Card, carrying no FX fees for foreign currency transactions.

The protection by SDIC

  • The Singlife Account and Grow are protected up to specified limits by Singapore Deposit Insurance Corporation (SDIC).

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. Just take note to use this code to get your credits – “ki02dAhi

Now, if what I am sharing does resonates with you, do use my referral codes here at Referral and Recommendations

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 Singlife website for this article.

MoneyOwl Performance to date – August 2021

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I have been investing regularly into my MoneyOwl portfolio monthly for some time now. While the amount is nothing to be shout about. It is just regularly fixing something so that I can save and invest at the same time.

I think that given the amount of time I am left with for the next month, I would likely blog lesser than before. I just have not much time on my hand but I will still squeeze in deals and new information and I have some content to share. I’ll need more time to read up and understand more about the product first before I pen it all down.

Who is Money Owl?

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. I believed back then I was comparing them versus StashAway. It was only when I found out about Endowus that I went full on robo-advisors.

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 18 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.

One of the reasons I went into MoneyOwl and Endowus initially was because of the Dimensional Fund. These are not readily available to retail investors but the investing landscape has changed. Retail has as much power as one UHNW investor if combined as a whole. Of course, you can still argue that doing 1 ticket size is better than doing one million ticket size.

Summary

My MoneyOwl Portfolio is one that does not hold a lot and it is through regular S$100 crediting. It’s not a lot but as it isn’t my main Robo Portfolio, I am less inclined to put more cash into investments. At the same time, for folk who have just started the investment journey, S$100 is definitely doable for a long long term portfolio. The whole idea of this blog is to also show that it does not take a lot to start building your own retirement pot.

Recently, we also purchased a bigger apartment  and had our  second child. Funds are relatively being used up quicker and outflows have been on a hectic level. Our own portfolio would definitely be used up for the new renovations and purchase as well as childcare in the next 1.5 years. So, personal finance also have to revolve around each individual condition and understand the situation will determine what is required.

On top of the asset that we acquire, there is a need to tweak the insurance coverage due to a new child and an increased mortgage. Should there be any issues that happen to any one of us, at least the full liabilities are covered.

August 2021 performance (Since Day One Deposit)

In portfolio terms, it is up +18.30% on 2 Sep 2021 since inception in June 2020. The portfolio size isn’t something great. Just a net deposit of 2,400. I kept the regular investing of $100 per month and it’s looking rather slow. I shall decide if I would want to up that amount soon given that I have quite a bit of commitment in the coming months. August was a positive month again by +0.1%

If we look at Time Weighted Returns, it is the more accurate to account of deposit and withdrawals at +31.38% (which is 1.0% compared to July 2021) Again, this returns is just for reference. At the end of the day, what you originally invest in and the final amount will be the absolute profit.

In terms of the portfolio allocation, there is no change and it is at 60% equities and 40% fixed income. The portfolio consists of 4 different funds. Everything will be on Dimensional Funds. I kind of wished that I had a small cap fund in there. But I guess, as long as my main robo has that exposure that would be good as well on an overall basis.

Personally, I like the allocation % because it is just widely diversified for equities and widely disperse in terms of investment grade.

In the details on the profit and loss sheet:

a. The Global Core Equity Fund will be the largest allocation and makes up most of the returns to date and continues to do well.

b. The Emerging Market Large Cap Fund will be the lowest allocation and makes the least of the returns to date. I don’t mind some EM exposure at this point in time.

c. The Global Core Fixed Income Fund will be my main steady income Fund and finally.

d. The Global Short Term Fixed Income Fund will be the last stabiliser in my portfolio.

e. The government bonds remains to be on the downside which is expected though it recovered a little as compared to the previous month. The impact is negligible.

MoneyOwl fees

A few months ago, MoneyOwl announced that they have lowered their investment advisory fees as well as absorbing the platform fees due to the pandemic.

a. For asset under management S$10,000 and below, there will not be any fees charged through 31 December 2021. This amount will be rebated back in 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. The review is expected to contain detailed report and recommendations (It is estimated to be around 2 hours). I do think there are some discounts if you use some linked services of sorts such as Ohm Energy (You get a S$20 off)

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 long term goals.

If you would like to give MoneyOwl a try do remember to use my referral code: 1JIC-91CM

Both of us with get S$20 worth of GrabFood Vouchers for every product or service that you sign up so that means that both of us will get up to S$60 worth of GrabFood Vouchers. (Total of 3 services/products)

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 would like to give MoneyOwl a try do remember to use my referral code: 1JIC-91CM

Now, if what I am sharing does resonates with you, do use my referral codes here at Referral and Recommendations

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 Money Owl’s website for this article.

MoneyOwl Performance to date – July 2021

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I have been investing regularly into my MoneyOwl portfolio monthly for some time now. While the amount is nothing to be shout about. It is just regularly fixing something so that I can save and invest at the same time.

Who is Money Owl?

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. I believed back then I was comparing them versus StashAway. It was only when I found out about Endowus that I went full on robo-advisors.

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 18 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.

One of the reasons I went into MoneyOwl and Endowus initially was because of the Dimensional Fund. These are not readily available to retail investors but the investing landscape has changed. Retail has as much power as one UHNW investor if combined as a whole. Of course, you can still argue that doing 1 ticket size is better than doing one million ticket size.

July 2021 performance (Since Day One Deposit)

In portfolio terms, it is up +18.19% on 4 Aug 2021 since inception in June 2020. The portfolio size isn’t something great. Just a net deposit of 2,300. I kept the regular investing of $100 per month and it’s looking rather slow. I shall decide if I would want to up that amount soon given that I have quite a bit of commitment in the coming months. July was a positive month again by +0.3%

 

If we look at Time Weighted Returns, it is the more accurate to account of deposit and withdrawals at +30.38% (which is 1.5% compared to June 2021) Again, this returns is just for reference. At the end of the day, what you originally invest in and the final amount will be the absolute profit.

 

In terms of the portfolio allocation, it is at 60% equities and 40% fixed income and makes up of 4 different funds. Everything will be on Dimensional Funds. I kind of wished that I had a small cap fund in there. But I guess, as long as my main robo has that exposure that would be good as well on an overall basis.

Personally, I like the allocation % because it is just widely diversified for equities and widely disperse in terms of investment grade.

In the details on the profit and loss sheet:

a. The Global Core Equity Fund will be the largest allocation and makes up most of the returns to date and continues to do well.

b. The Emerging Market Large Cap Fund will be the lowest allocation and makes the least of the returns to date. I don’t mind some EM exposure at this point in time.

c. The Global Core Fixed Income Fund will be my main steady income Fund and finally.

d. The Global Short Term Fixed Income Fund will be the last stabiliser in my portfolio.

e. The government bonds remains to be on the downside which is expected though it recovered a little as compared to the previous month. The impact is negligible.

MoneyOwl fees

A few months ago, MoneyOwl announced that they have lowered their investment advisory fees as well as absorbing the platform fees due to the pandemic.

a. For asset under management S$10,000 and below, there will not be any fees charged through 31 December 2021. This amount will be rebated back in 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. The review is expected to contain detailed report and recommendations (It is estimated to be around 2 hours). I do think there are some discounts if you use some linked services of sorts such as Ohm Energy (You get a S$20 off)

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 long term goals.

If you would like to give MoneyOwl a try do remember to use my referral code: 1JIC-91CM

Both of us with get S$20 worth of GrabFood Vouchers for every product or service that you sign up so that means that both of us will get up to S$60 worth of GrabFood Vouchers. (Total of 3 services/products)

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 would like to give MoneyOwl a try do remember to use my referral code: 1JIC-91CM

Now, if what I am sharing does resonates with you, do use my referral codes here at Referral and Recommendations

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 Money Owl’s website for this article.

Moomoo Quiz and Cash Rewards

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Once you are a Moomoo customers, there is a knowledge based quiz that you can enter every day. A total of 3 attempts a day and it says that you may win up to S$1,888. I’ve been attempting all week and could get S$0.18. There was a day when I got S$0.28

Sample quiz questions and answers

Below are some of those I got and from online sources. Wish you all luck in your quest:

Qn: Are you able to trade REITs on moomoo?
Ans: Yes

Qn: Can you receive dividends on moomoo?
Ans: Yes

Qn: Does FUTU SG charge for any inactivity or custodian fees?
Ans: No

Qn: Is currency exchange available on moomoo?
Ans: Yes

Qn: Is Moomoo’s in-app customer service available 24/7?
Ans: Yes

Qn: Level ___ market data for US market is provided free by FUTU SG.
Ans: Level 2

Qn: What feature can you use to view activities of Pre/Post-Market trading hours?
Ans: Pre/Post-Market

Qn: Where can you redeem your points for rewards on moomoo?
Ans: Rewards Club

Qn: Which of the following can you trade on moomoo?
Ans: Stocks, Futures, Options, ETFs, China A-Shares

Qn: Which of the following is NOT a daily task in the Task Center?
Ans: Change username

Qn: Which level of the free market data is provided for the SG market?
Ans: Level 1

Qn: Which stock markets can you trade in on moomoo?
Ans: US, SG, HK and China A-Shares

Qn: Which tab do you select to view your available Coupons?
Ans: Me

General Investing Questions:

Qn: A basket of securities that tracks an underlying index is called ETF.
Ans: True

Qn: A margin account allows you to buy stocks with borrowed funds using your cash or shares as collateral
Ans: True

Qn: A margin account is?
Ans: An account that allows stock buying using borrowed funds.

Qn: A stock is?
Ans: Fractional ownership of a corporation.

Qn: A part of a business that is bought and sold on the stock market is called?
Ans: Stock

Qn: An index fund is?
Ans: A fund that tracks components of a financial market index.

Qn: Free market level data provides information on the?
Ans: Bid and Ask spread.

Qn: IPO refers to a company offering its stock for sale to the public for the first time.
Ans: True

Qn: Market Cap in financial terms stands for?
Ans: Total market value of a company’s outstanding shares.

Qn: Select the option which is a US stock exchange.
Ans: NASDAQ (other options: SGX, HSI)

Qn: Short selling happens when an investor borrows a stock to sell then buy it back later.
Ans: True

Qn: The US Securities in your FUTU SG account is protected up to USD _ by SIPC.
Ans: USD 500,000

Qn: What does ETF stand for?
Ans: Exchange-Traded Funds

Qn: What does Market Cap stand?
Ans: Total market value of a company’s outstanding shares.

Qn: What does REITs stand for?
Ans: Real Estate Investment Trusts

Qn: When an investor borrows a stock to sell and buy it back later, this action is called short selling.
Ans: True

Qn: Which of the following is true about a margin account?
Ans: All of them.

Qn: Which of these is a good example of diversification?
Ans: Investing in different types of securities and markets.

Futu Holdings as a Company:

Qn: Futu Holdings Limited is strategically backed by which company?
Ans: Tencent Holdings

Qn: FUTU SG is a subsidiary of Futu Holdings Limited that is listed on ______?
Ans: NASDAQ

Qn: How many users does FUTU have worldwide?
Ans: 15,000,000

Qn: Which credit rating grade did FUTU receive from S&P Global?
Ans: BBB-

Qn: Which of the following funds hold a position with FUTU?
Ans: All of the above

Qn: Which stock exchange is Futu Holdings Limited listed on?
Ans: NASDAQ

Have fun!

If you have not signed up for a moomoo/Futu Account and would like to do so. Please read up more on the T&Cs and use my referral code below. Read about the promotions here at 1 free apple share

Read more about their T&Cs here: https://support.futusg.com/en-us/topic128

Read about the Fees you need to pay: https://support.futusg.com/en-us/topic76

I personally think that it is a no brainer to get the perks. Thank you in advance for using my referral code: https://j.moomoo.com/004Fsa

For reference, please refer to the official website or contact their representatives.

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.

Now, if what I am sharing does resonates with you, do use my referral codes here at Referral and Recommendations

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 and information that I am using are taken from Futu’s/Moomoo’s website for the purpose of this blog post.

1 free APPLE and NIO Stock for Moomoo users (One up for new sign ups)

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I’m just going to bring this Moomoo brokerage app up again on my blog because the promotion is too good now to be true. I’m not sure how fast this will run out but giving a new user 1 free APPLE stock and 1 free NIO stock is unheard of. There is just too good to not get this up now.

Let’s do the Math: USD 146 + USD 46 = almost USD 200

That’s just free money so let’s not waste any time.

To be honest, I am a little cheesed off that I signed up earlier as it feels like I got penalised for being faster and earlier on this.

You can click on my previous post to read more about it: Previous Blog Post

Who is Moomoo?

Who is Moomoo? Moomoo are a nasdaq listed company known at FUTU Holdings Limited. FUTU SG is a subsidiary of their parent company. Moomoo/Futu is also backed by Tencent and for those who don’t know who they are, they are a China based global gaming, superapp, entertainment, internet giant, etc. If you did not know, they do not charge commissions for stock trading for US, SGD and HK markets. They also do not charge a custodian fee. I am guessing that volume plays a big part in this whole scheme of things.

Promotions

Let’s just sum up what you will be getting first:

a. 1 AAPL Share

b. 1 NIO Share

c. Up to 20 Free TWTR shares

d. Unlimited Commission-free Trading for US, HK and SG Market, however you continue to pay the other fees such as trading, platform fees, etc.

d. Free Level 2 Market Data for US stocks

e. Free SGX securities Level 1 real-time data

f. SGD 50 Cash Coupon for stock transfer in.

Conditions to get your promotions (No free lunch)

Now, nothing comes free so these are required but do check the T&Cs officially to avoid any disappointment. These days, there are so much information flow that most of us can’t keep up.

a. You need to be a NEW Customer and be in Singapore to get this offer (You have to be above 18 years of age and have a valid bank account in your own name) – [For KYC purpose obviously]

b. Commission free trades does not apple for stock options, futures and China A shares. The promotion commission-free promotion is only valid for 180 days.

c. You can only transfer in shares that are for US and HK positions and you will get that S$50 cash coupon for the first transfer in.

d. In order to obtain your referral rewards, you will need to do some work. Referral rewards will be capped at a maximum of 20 Twitter Shares and 600 days of commission-free trading. So, get those referral coming.

e. To get your 1 free APPL share, you need to deposit funds worth S$2700 or USD 2000 or HKD16,00 within 30 days from account opening + Open an account by 2 Aug 2021.

f. As for your  1 free NIO share, you will need to unlock Level 1 trading bade or complete 5 successful trades within 30 days of account opening + deposit funds worth S$2700 or USD 2000 or HKD16,00 within 30 days from account opening.

Read more about their T&Cs here: https://support.futusg.com/en-us/topic128

Read about the Fees you need to pay: https://support.futusg.com/en-us/topic76

I personally think that it is a no brainer to get the perks. Thank you in advance for using my referral code: https://j.moomoo.com/004Fsa

For reference, please refer to the official website or contact their representatives.

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.

Now, if what I am sharing does resonates with you, do use my referral codes here at Referral and Recommendations

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 and information that I am using are taken from Futu’s/Moomoo’s website for the purpose of this blog post.

A New Service in Town – Goldback on Hugo

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With the internet, news and services get rolled out pretty at a light speed. Recently, the blog community and several other channels (likely paid/sponsored) has seen a new service in town. It isn’t your usual savings or investment account but instead a Goldback account. At at current, it looks really simple at this point in time. I’m not sure what they have in store for future development. (https://onelink.to/hugosave)

Hugo Save or Wealthcare

Savings are made made simpler through the Hugo Save App. How this works is through Roundups – every transaction on the Hugo Platinum Visa Debit Card is rounded up to the nearest dollar. This weekly Roundup savings are then automatically invested into real physical gold via the Hugo Gold Vault.

There are also other options such as:

1. Micro Investments – Grab Invest (Nothing Fancy but also nothing exciting). These have no lock-ins.

2. Micro Insurance – SNACK by Income. They offer small insurance benefits that build up over time. They can be a good source of insurance coverage for freelancers or folks who just came to employment.

3. With Hugo, they focus on savings and what more can they do to provide it as a platform to save eventually rounded into Gold.

a. You sign up with your details here at Hugo: https://www.hugosave.com/, click on the download button.

b. Fill and submit your details. I believe they have a pretty quick turnaround. Meanwhile, you will need a photo of your NRIC and selfie as a check.

c. Within the next business day, you should have your account setup and proceed into the app to get your physical card. This portion takes about 2 weeks minimally to obtain the physical card and start spending.

Each account is provided with an account number and a DBS Swift Code which is safeguarded within DBS Bank. You can load money via FAST to your account at Hugo

c. You can then explore to create moneypots (Savings) and if you spend on your card, there will be a round up function which will complete your micro savings into what they call Goldback.

Features

There are several features on the app:

  1. You can add money pots to create saving goals. (for example – different kid, PS5, new gadget) Take note though that there will not be any interest earned.
  2. Separately, there is a Gold Vault which you can:
    1. regularly invest in by setting a monthly date and amount to put into Gold
    2. Ad-hoc invest into the Gold account.

The Gold account in the Gold Vault is physical gold allocated against your investments. They are stored in an accredited London Bullion Market Association vault and insured by Lloyds of London.

Some Partnership links

It seems like HugoSave have a couple of partnership links that users can take advantage of:

a. From Circles (Telco): https://bit.ly/HugoXCirclesLife (minimum S$40 payment for 5 bills, get $S20 in staggered Goldback payment) You will need to be a Circles customers I suppose and looks like they have a promotion code to sign up too.

b. From Ohm Energy (Electricity Retailer): https://bit.ly/HugoXOhm (minimum S$40 payment for 5 bills, get $S30 in staggered Goldback payment) You will need to be an Ohm customer I suppose and looks like they have a promotion code to sign up too.

My Personal Thoughts

Pros

Good things first – When i first checked this out, the first thing that came to mind was a structured way to save money. This works for me in terms of setting saving goals for myself and pocket money for my kids.

The idea of roundups came in as a fresh perspective. Putting it into Gold was a little off-putting initially but i figured out that it is a safe haven so no harm to do so.

Next, I eventually thought about freelancers and people who say that they can’t really save every month. This put in to practice what you can really do now. Putting money pots and fix your savings without spending it.

With the increase and new generation into freelance work, this will help people in terms of educating savings. You have a fixed

Cons

I’m just thinking as a devil’s advocate. Should there be more than Gold as an option in this roundup function?

Next up, the physical card took rather long to arrive before I can use it. Perhaps, there can be consideration for spending on the numberless card before it arrives.

Are there any signup perks for customers? Since the objective is driven by savings instead of an interest bearing account. Considering that I can do the same via a Bank app, what is the edge other than purely savings.

Afterall, I’m pretty seasoned in this new app, new services stuff. They spend money to acquire customers, then roll a tight budget to stay sustainable. Nothing wrong in doing so, that’s just entrepreneurship and staying relevant.

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.

Now, if what I am sharing does resonates with you, do use my referral codes here at Referral and Recommendations

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 Hugo Save’s website for this article.

MoneyOwl Performance to date – June 2021

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I have been investing regularly into my MoneyOwl portfolio monthly for some time now. While the amount is nothing to be shout about. It is just regularly fixing something so that I can save and invest at the same time.

Who is Money Owl?

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. I believed back then I was comparing them versus StashAway. It was only when I found out about Endowus that I went full on robo-advisors.

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 18 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.

June 2021 performance (Since Day One Deposit)

In portfolio terms, it is up +17.77% on 30June 2021 since inception in June 2020. The portfolio size isn’t something great. Just a net deposit of 2,300. I kept the regular investing of $100 per month and it’s looking rather slow. I shall decide if I would want to up that amount soon given that I have quite a bit of commitment in the coming months. June was a stable month at least.

If we look at Time Weighted Returns, it is the more accurate to account of deposit and withdrawals. Again, this returns is just for reference. At the end of the day, what you originally invest in and the final amount will be the absolute profit.

In terms of the portfolio allocation, it is at 60% equities and 40% fixed income and makes up of 4 different funds. Everything will be on Dimensional Funds. I kind of wished that I had a small cap fund in there. But I guess, as long as my main robo has that exposure that would be good as well on an overall basis.

 

Personally, I like the allocation % because it is just widely diversified for equities and widely disperse in terms of investment grade.

In the details on the profit and loss sheet:

a. The Global Core Equity Fund will be the largest allocation and makes up most of the returns to date and continues to do well.

b. The Emerging Market Large Cap Fund will be the lowest allocation and makes the least of the returns to date. I don’t mind some EM exposure at this point in time.

c. The Global Core Fixed Income Fund will be my main steady income Fund and finally.

d. The Global Short Term Fixed Income Fund will be the last stabiliser in my portfolio.

 

MoneyOwl fees

A few months ago, MoneyOwl announced that they have lowered their investment advisory fees as well as absorbing the platform fees due to the pandemic.

a. For asset under management S$10,000 and below, there will not be any fees charged through 31 December 2021. This amount will be rebated back in 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. The review is expected to contain detailed report and recommendations (It is estimated to be around 2 hours). I do think there are some discounts if you use some linked services of sorts such as Ohm Energy (You get a S$20 off)

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 long term goals.

If you would like to give MoneyOwl a try do remember to use my referral code: 1JIC-91CM

Both of us with get S$20 worth of GrabFood Vouchers for every product or service that you sign up so that means that both of us will get up to S$60 worth of GrabFood Vouchers. (Total of 3 services/products)

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 would like to give MoneyOwl a try do remember to use my referral code: 1JIC-91CM

Now, if what I am sharing does resonates with you, do use my referral codes here at Referral and Recommendations

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 Money Owl’s website for this article.

Futu Brokerage updates – MooMoo Singapore Promotions

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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 they are pretty aggressive on par with Tiger Brokers. The mechanics seem to change every month. You can now get like 1 apple share. If you transfer equities into their platform, you get even more perks.

Although after setting up the brokerage, maybe buying Futu stocks in the US stock exchange might be a good idea given their backing. Personally, these brokerages give the competition a run for their money. I find it easy to use and they are not just any fly by night company.

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. To get additional perks, fund USD 2k or SGD 2700 equivalent. there is a SGD30 credit.
  3. Plus free level 2 market data for US market & level 1 market data for SGD market.
  4. SGD 50 cash coupon when you transfer in stocks.

For successful referrals, you can get up to 1 twitter share (Cap at 20 successful referrals)

For detailed T&Cs, do go to their website to find out more: FUTU T&Cs (June 2021)

Conditions for new sign ups

Do keep abreast of new terms and conditions as they tweak these to avoid gaming of the system.

As of 1st Jun 2021, (0000hrs SGT ) new customers who have successfully opened a Futu SG securities account from 1st Jun 2021 to 30th Jun 2021 (2000hrs SGT) can enjoy 1 Free AAPL share when they fulfil all of the following conditions,

  1. Successfully open a FUTU SG Securities account between 1st Jun 2021, 0000hrs SGT and 30th Jun 2021, 2000hrs SGT (hereinafter referred to as “activity time”);
  2. Deposited funds worth SGD 2,700 or USD 2,000 or HKD 16,000 within 30 days from account opening;
  3. Successfully unlocked the Level 1 Trading Badge or completed 5 successful trades

Conditions for Referrals

I’ll just pick out the most important details for a successful referral.

For each successful referral of a new customer that has used your personal referral link to,

  1. You have to successfully open a new FUTU SG securities account;
  2. You have put in a minimal deposit of SGD 2,700 or USD 2,000 or HKD 16,000 successfully. Within 30 days from successful account opening day;
  3. Once you complete 1 successful trade , you will receive 1 Free Twitter (TWTR) share. Additionally 30 days commission-free trading for US, HK and SG stock markets.

The rewards for the referral programme is cumulative but capped to the first 20 successful referrals only. This means referral rewards of 1 Free Twitter (TWTR) share will be capped at a maximum cumulation of 20 only. Similarly, the additional 30 days of free commission trading for US, HK and SG stock markets will be kept at 600 days. Successful referral rewards are only valid for all referrals that happened from 1st May 2021 till 30th Jun 2021 (2000hrs SGT).

This referral programme is applicable for all users on moomoo (both existing and new users).

Disclaimer

If you decide to sign up with Futu Brokerage, do remember to use my referral code: MooMoo Referral

If you like what I am sharing or if it resonates with you, do use my referral codes for other services at Referral and Recommendations

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

MoneyOwl Performance to date – May 2021 & New Referral Scheme

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I have forgotten that I have been investing regularly into my MoneyOwl portfolio monthly for some time now. While the amount is nothing to be shout about. It is just regularly fixing something so that I can save and invest at the same time.

Who is Money Owl?

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. I believed back then I was comparing them versus StashAway. It was only when I found out about Endowus that I went full on robo-advisors.

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 18 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.

May 2021 performance (Since Day One Deposit)

In portfolio terms, it is up +17.85% on 7 June 2021 since inception in May 2020. The portfolio size isn’t something great. Just a net deposit of 2,200. I kept the regular investing of $100 per month and it’s looking rather slow. I shall decide if I would want to up that amount soon given that I have quite a bit of commitment in the coming months.

In terms of the portfolio allocation, it is at 60% equities and 40% fixed income and makes up of 4 different funds. Everything will be on Dimensional Funds. I kind of wished that I had a small cap fund in there. But I guess, as long as my main robo has that exposure that would be good as well on an overall basis.

Personally, I like the allocation % because it is just widely diversified for equities and widely disperse in terms of investment grade.

To punch in the details on the profit and loss sheet.

a. The Global Core Equity Fund will be the largest allocation and makes up most of the returns to date.

b. The Emerging Market Large Cap Fund will be the lowest allocation and makes the least of the returns to date. I don’t mind some EM exposure at this point in time.

c. The Global Core Fixed Income Fund will be my main steady income Fund and finally.

d. The Global Short Term Fixed Income Fund will be the last stabiliser in my portfolio.

MoneyOwl fees

A few months ago, MoneyOwl announced that they have lowered their investment advisory fees as well as absorbing the platform fees due to the pandemic.

a. For asset under management S$10,000 and below, there will not be any fees charged through 31 December 2021. This amount will be rebated back in 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. The review is expected to contain detailed report and recommendations (It is estimated to be around 2 hours). I do think there are some discounts if you use some linked services of sorts such as Ohm Energy (You get a S$20 off)

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 long term goals.

If you would like to give MoneyOwl a try do remember to use my referral code: 1JIC-91CM

Both of us with get S$20 worth of GrabFood Vouchers for every product or service that you sign up so that means that both of us will get up to S$60 worth of GrabFood Vouchers. (Total of 3 services/products)

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 would like to give MoneyOwl a try do remember to use my referral code: 1JIC-91CM

Now, if what I am sharing does resonates with you, do use my referral codes here at Referral and Recommendations

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 Money Owl’s website for this article.