Tag: affliate

Everything is Expensive Today

On By RistrettzIn Deals, Interest, Macroeconomic, RandomLeave a comment

We have been in a deflationary world for the longest time and in the last year, everyone has been fighting inflation. It isn’t that fun to know that what you have now buys less of everything. The resulting outcome is that every single item such as consumables, staples, and costs would have increased.

There is a laggard in the sense that the resulting costs of home purchase would mean that home prices have crept up. The cost of hiring has increased since the waste management, your electricity and water bills and the employees behind maintaining the order of infrastructure would have increased. Eventually, this would lead to a higher annual value of everyone’s home prices and that subsequently leads to a higher property tax and so on and so forth. You will get the idea.

When we talk about homes, there’s always something in me that worries for the young. I’m thinking about my kids yes it is and I think it is always at the back of our minds that how are they going to afford housing in another two generations or so? Personally, in a land scarce Singapore, it is hard to agree that property prices will drop. What it currently does is that it is slowly down the increase that Hong Kong failed to do so many years ago resulting in small houses and social issues.

Home prices
This came from CNA

Inflation

With inflation rates normalizing globally, the same effect will be a laggard. However, let’s also be real because no business will reduce prices knowing inflation would have normalized. Moreover, GST has increased in 2024 and it just means that costs will have increased yet again. It would take at least two quarters for anyone to see the easing effect.

While looking at the most recent CDC vouchers, I also started my hunt for CNY purchases. Things like drinks, Bah Kwa, and consumable items: CNY Shopping Items have crept up.

I do hope that I am wrong. I do sense that there is a soft landing rather than a hard one. Recession is a strong word and we have to come to a reality. Recent job cuts in the news is not by chance. What we do not know are the unofficial ones.

Inflation rates have plenty of benchmarks such as the Big Mac. In Singapore, we have the Milk Powder Benchmark:  Milk Powder haha

I do remember that during the “covid period” a lot of homeowners became pet owners. I do hope, they did not discard their pets because that is not great behavior. Hopefully, you can find some good deals here at Pet Shopping

Disclaimer

If you like what you are seeing, do remember to check them out and do your diligence. There is no one-size-fits-all investment strategy and no one solution to life. Join my telegram group to find out more about deals. Join the community to connect for ideas: Life Journey Telegram

If you are doing some shopping, click on the affiliated links here: CNY Shopping

If you like what I am sharing or if it resonates with you, do use my referral codes here at Referral Services

A New Singlife Grow & Referral Scheme

On By RistrettzIn Alternative Income, Deals, Personal Finance Series, Wealth & HealthLeave a comment

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

The pictures were taken from Singlife website for this article.