Tag: life

Resilience and Adaptability = Confidence

On By RistrettzIn Psychology, Random, Wealth & HealthLeave a comment

Life is like a game. You play a game and this game cannot unwind or move back or restart. You will face good and bad decisions. More often, you will face a dilemma. I like to listen, adapt and use psychology to understand and comprehend most things. I find that humans are a handful and psychology is the best way to understand someone instead of a concept or a model.

Our life, work and family revolve around integrating these into our day-to-day life. When faced with challenges, it saps the energy out of us and makes us feel down, upset or even dejected at times. However, the same can be said about joy and happiness. More importantly, these moments never last forever and instead come and go like the rides of a roller coaster. It is a simple measurement of life that nothing lasts forever.

Comparing ourselves with other makes a good benchmark on where one would like to be at a certain point in time but it should not turn into envious or jealousy. Let’s say that let us be glad we can do the things we do, no other should influence you into turning green nor should that affect your decision to change your values and principles.

More often than not, we as humans are more resilient than we think we are. Most of us need time to get over things, some people are made different, and they move on faster than the rest. It is not a good or bad thing. What I meant to say is that there are trigger points in life that are essential and these triggers are due to an in-built mechanism that moves subconsciously within us. This means, that when one person does not think he can achieve or do this, situational issues may have triggered a situation where, over a period, this person continuously pushes forward better than he thought he was. (In the sub-conscious

As I get on with my morning exercise which I am trying hard to change and get used to in order to reduce the cm on the waistline for my own good. There were alot of thoughts that flowed through my mind. Things such as wisdom words, mentoring and coaching stayed with me even within the last 10 years where I no longer meet my ex boss, inspiration mentor or coach. Here I am trying to be a notice inspiration leader.

Simple headlines and things I learnt

a. What i the one thing that no one takes away from you. This is what my first real boss told me and that is Knowledge. The wisdom of apple is one that no one can take away from you. It is unquantifiable and only shows when you act on certain aspects

b. Learning and training. Is there really a need to learn and train in an environment. I’m learning everyday, I just need the credentials but guess what those around me whom I worked with studied in University of Imperial College, MTI, Colombia, Havard and Cambridge. I learned valuable lessons without going through the official program. Do we really need to study for the sake of studying. We only work 40-50 years of our lives and spending more time in school – Unless I want to be a researcher or educator, I’ll consistently go back to school.

c. No experience, no skills, no other relevant education. We should really rid ourselves of this concept. Who started off with experience, skills and relevant education. Most leaders just forget where they once were and just want to get their shit done quickly and productively. It is hard to find a mentor or coach. Why? because it is a time value and what they can be doing.

d. Spiritual – It is not meant to be a preaching session. When all else fails. Look to where your beliefs bring you. You will be surprised at the result. What is Faith?

i. Scenario 1: When you fall forward and see your friend/partner in front of you, you fall forward with the confidence that the will catch you.

ii. Scenario 2: When you fall backwards and you see your friend/partner still in front of you. you fall backwards without fear and worries. That is faith. (Please do not do this in real life or you will end up hurt)

e. Everything happens for a reason and nothing lasts forever. The question is how long so make the best out of your time.

Conclusion

I meant to write this as a form of inspiration. I am a nobody and I’m not an inspirational leader. However, I aim to be one and no one was a leader at birth. The same can be said about skills and experience. We are born equal and we choose our own path. So, Sulk and Swear all you want – then move on and don’t prove anyone anything. They don’t even care or even know what you are thinking. If you show ethics and integrity, be real and honest – Things will fall into place eventually.

When you find small success in life, that’s where positivity exudes. This is where you find confidence. The saying “fake it till you make it” holds some truth because marketing sells and you have to keep selling yourself and your own USP until someone values what you are talking about.

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 and join the community to connect for ideas: Life Journey Telegram

Thank you in advance. It would help in every little way now that I’m in between work.

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

Investing or Gambling or Punting

On By RistrettzIn Finance, Macroeconomic, Personal Finance Series, Psychology, Random, Wealth & HealthLeave a comment

I recently read quite a bit of online articles to explore fresh new ideas and I came across some blogs discussing the fact that investing is gambling and also several others that discuss Singaporeans being overly confident with themselves. I mean there’s really no right or wrong answer to these and I personally feel that it is a little bit of a righteous standout or declaration. Yes, we all know that many people are snobbish but I would like to think that most Singaporeans are smart, clever, and full of empathy. The ones who are snob are usually the affluent group. Probably think that with a 6-digit asset, they have the right to everything.

That said, our small country has exceptional talents. These people don’t voice or come out to talk about their opinions in public. Usually, they can avoid it in its entirety or put their opinion on where it matters the most. After all, we are still humble Singaporeans, aren’t we? There was an increasing trend in the last decade about some topics that irk me a lot, let me list them down:

Kiasu/Kiasi

Meaning scared to lose or scared to die. It was prevalent in the last decade where FOMO exists today and I felt that it was uncalled for because people just flock to what most people did. It kind of made many next-gen be contrarian

Best

The concept of best has been something I disliked for some time now. At least for 30 years. For 30 years, I have been hearing the words best and “bestest”, even words that do not exist in the English dictionary appear in my everyday life. My question is, what is best? Who determines the best or why is it the best? Is what one defines as the best really the best? I beg to differ in all aspects. There is no best, there’s only what one thinks is the best. By the way, it doesn’t mean cheap means it is no good.

Similar to the way one measures a valued company. It’s not the best but it is the most valued. Then again, value is perceived hence my point – beauty lies in the eye of the beholder.

Invest in gambling

It is said that gambling is punting, investing is gambling of sorts and investing is a study of risk management. If one sees risk management the same as gambling then I’ll ask, why invest and spend so much time understanding a company or an investment? Life is an entirety of risk and we understand the risks, manage the risks, and reduce risks to enhance our lives, our experiences, and our money.

Lady luck plays a big part in our lives no doubt. Some people seem to have more of those but I’ll say, you make your own luck. If lady luck is not on your side, it is probably because it is the wrong lady. Some find their lady earlier and some later. There’s no loser at the end, it is part of the risk management and tools we can use to enhance our priority.

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 or general rule for your every life. Join my telegram group to find out more about deals and join in the community to connect for ideas: Life Journey Telegram

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

If you have not opened a Moomoo account to start your investing journey, you can give it a go here to recieve rewards up to S$660 (T&Cs apply). Cliek here to Open a Moomoo account

Thank you in advance. It keeps the light running on my blog. Cheers!

Retirement Series (Part 2)

On By RistrettzIn New Ideas, Personal Finance SeriesLeave a comment

My part 2 version came a year and a half late. My apologies really.

In the previous discussion, I discussed about retirement. In the past, it was a buzzword only for people in their 40s or 50s. That is quite normal I would say. Given the financial literacy and knowledge of Generation X. Not many people make an effort to think about the future. I would say that partly it is due to the conditions of the past and education. Fast forward 30 years, the trend is gradually changing. The young are concerned about their futures and the future of their younger ones. An additional factor is that personal finance and financial literacy are increasing among the young.

Including myself, I love my kids and I want the world to be in a better place than it was when I am no longer around. It depends on which stage everyone is in. Some people have more resources while others have lesser. However, that does not make you any less by starting out early. Even if you are late to the game, making the start of this means that you are already on your way to some form of freedom.

There are so many investment tools out there in the market to put your money in and it’s a matter of understanding the risks and taking the right risks to grow your money. Of course, the basic step is to spruce up an emergency fund first. You cannot confuse your pot to be of multiple use. Different funds that you raise have to be for a different purpose. If you have fewer resources, then focus on the things that will give you the confidence such as building a pot of emergency funds. For example, 9 months’ worth of extras. Do not undermine the power of achieving milestones because the small effort often counts for bigger things to come.

Once your basics are covered. We have to think about the next step of risk – This is the part where I term it as risk transfer. This is short is coined as Buy an insurance. The basics are buying your personal health insurance and protection against illness, treatment, sudden medical conditions as well as other unforeseen circumstances. Life itself is uncertain and as time goes by, it will be more prevalent. Getting insurance is never enough but there are many ways to kick-start that. It also involves a bit of planning.

I’m no financial expert. All I know is you probably should find out more to convince yourself that you need to risk transferring your future.

a. Health Insurance

b. Whole Life Plans with TPD or Term Life Plans or Hybrid Plans

c. Critical Illness

d. Early Payout Critical Illness

e. Disability Income or Elder Shield Enhance

I’ll say start working with the Health portion followed by Death or permanent disability coverage. Because if you are gone, your potential future earnings are gone and your dependants depend on them. Once you have covered yourself, then start thinking about the rest. Baby steps. This works well if you are still young.

Things like Mindef or MHA term insurance coverage or SNACK Income microinsurance work well to supplement this insurance at a low cost. That’s something most advisors probably would not share with you.

That’s probably enough information for Part 2. We should talk more about insurance in Part 3.

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 and join in the community to connect for ideas: Life Journey Telegram

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

SNACK by Income – Microinsurance for the public

On By RistrettzIn Deals, New Ideas, Personal Finance SeriesLeave a comment

Revisiting a tech online portal that Income has developed over the years. It is not a great app since it wasn’t developed fully in my opinion but it does dole out a nice reward over time. It also helps to supplement whatever insurance that I currently have as a risk transfer.

Why Insurance?

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

Try Microinsurance

Personally, I feel that it is fine to try out a cheaper alternative to insurance just to get yourself covered at the lowest cost possible. SNACK is by Income and they did not have this concept of microinsurance. I find it appealing personally coming from someone who understands how these things work. It kind of supplements what I have existing.

At least they try to speak the millennial language. Next, I find that with such low-cost products – There will be fewer barriers to entry. The difficulty in this solution is to educate people. It is much easier to say that it is complicated than trying to find out what this is all about.

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

 

There are 4 ways you can choose to buy insurance (Choose 1 or whatever you need but the auto-invest is the one that gives out e-CapitaVouchers):

a. Critical Illness

b. Personal Accident

c. Life Insurance.

d. Investments – There is a new weekly limit for the RSP style on the Asian Income Fund. There’s only one fund and I also believe the NAV versus the Sell (Also known as bid price) will be different from the Buy (Ask price) That’s something I don’t quite like about insurance firms. They need to do away with this (With the fact that they tell customers there’s no front-end or back-end loading). This itself is the spread.

Recently, there’s been a monthly mission and a single top-up mission that one has to invest and hold for a month before the team releases e-CapitaVouchers via email on fulfillment. It’s not too bad and ranges from a cashback of approximately 5-8% depending on the investment amount.

The cons is that the system is not great. You can’t do partial withdrawal, there is only one Asian Income Fund, and it comes with a buy-sell spread (Fees and management fees from the fund). Also, the max investment is $1000 weekly so there’s a bit of micro-management and exploring how bad the app is to figure out how to not tweak the limits any period as the change actually reset the period.

Missions also are limited to 28-29 days – so if you miss a day, you miss out on the big prize. The challenge prizes have also been reduced over time but that is expected.

Be careful since it is still an investment but no harm in trying after exploring and figuring it out.

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

a.  Redeeming deals or paying for meals using a VISA card.

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

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

d. Shopping for groceries using a linked VISA card.

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

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

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

h. Activate your Fitbit app and fulfill your daily steps.

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

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

There is also a cap on each insurance segment:

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

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

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

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

Disclaimer

This is not a sponsored post. This is purely my own opinion after using their service and/or products. If you like what you are seeing, do remember to check them out and do your diligence. There is no one-size-fits-all investment strategy or general rule for your every life. Join my telegram group to find out more about deals and join in the community to connect for ideas: Life Journey Telegram

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

The pictures were taken from the SNACK website for this article. If you need a referral code, please use my referral code “PAU4055” to sign up at https://www.snackbyincome.sg/ to find out more.

Be thankful for the things we have

On By RistrettzIn Psychology, Wealth & HealthLeave a comment

With the increase in countries changing their covid stance, the world has slowly but surely tried to come to an equilibrium. The pandemic created a lump of opportunities and closed off many others. We still need to be thankful for the things we have. If you had a job or still have a job. If you have a bonus or still have a bonus. If you can travel or if you cannot travel. The beginning of the past (comparison and envying doesn’t help)

Rather, be thankful for the things you still can do. Still can afford it. Still can provide. Don’t forget to give back to society, help others and be empathetic. For those who gave up or stopped their usual routine, if those are good for you and are spiritually rewarding – take time to plan to get back in 2023. For the world is a state where it is revolved around capitalism, it is easy to get lost. It is also not easy to live in.

The friend or social media is becoming toxic yet again with plenty of posts with the goal of? showboating or keeping up to date with your friends? No one knows but just remember to be thankful for the things you have. Money, in this world, can accelerate many things but chasing it has it detrimental effects. Yet, it is a form of acceptance that we can afford in this world today.

Maybe not now, maybe in the future. To many who have and have not. To the many whose ambitions have yet and going to be achieved. Be calm, only a clear head will let you think properly. It is never easy for me to come to any decisions but it does seem like it is easy for many. For some reason, every step of the way can be a stepping stone to something. Struggling is what makes us move forward. Being complacent does not and it does not even come knocking until it hits one too late.

I shall end off here and say that everyone’s stance is different and one should stay focused on your own principles and life. The things you see are different from the things others display. Everyone is in a different phase of life. If it does not work out now, it will work out later. The problem is the duration of that while it works out.

Count your blessings and be thankful. God Bless You Always.

Life and Travelling

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

Now that we are all living with the pandemic aka living with covid, travelling is on the cards for many people and there’s pent-up demand. For a moment, while I was searching for travel next year, everything settled down and the restrictions for other countries started to ease. It became quite an overload of information. No doubt reading and watching travel logs do inspire the places to visit in the future. Suddenly, it seems like there isn’t much time to visit all the places

It felt as though travelling is such a luxury all over again and very much preparation seemed like a hassle. Have I been living like a hermit for a while now? I’m not too sure. One thing I am sure of is that many people are looking forward to their travels. I just want to say that do remember to get your travel insurance and be safe from any form of sickness.

Another query that I had in my mind is that I wonder how many of those shops or places that were once of interest, survived the pandemic and managed to carry their business. Maybe I’m just overthinking it but I’m just generally more risk-averse since there are kids and old folks. I’m worried about the health of young and old all the time. In recent months, I’ve also been wondering if I need to do something to make sure that my own health is being taken care of.

Having time to think and ponder indeed is a luxury. Once it has been taken away from me, I learned to treasure time more. Been less diligent to apply for jobs this week since I ran most of my errands this week. I scheduled time to relax and also a couple of appointments in the next three weeks.

I’m keeping my fingers crossed on the recent interview and it does seem promising. Again, nothing’s confirmed till they call me up for an offer. Once that is done, I think I can then peacefully make some purchases that I have been putting off over the last few months. Then hopefully, preparing the next year for a full-on work and family schedule.

Whether there’s a recession or a market boom, I should ready myself for it. I’ll also probably take some time to put a good year’s resolution and rate them once the year has passed. Till then.

Managing Yourself

On By RistrettzIn Psychology, Random, Wealth & HealthLeave a comment

Life is very different for everyone. Every nook and cranny is different for each one of us. Eventually, that moulded all of us very differently. (i.e. How do we react to certain situations? How we seemingly lose common sense at certain things. With those things in mind, we can then empathise with others in their situation. While we may focus on how others are lacking, in the same sense we also need to be patient with others.

It is very easy to fall into the trap of looking at others and as always the grass is greener on the other side. (Until you reach the other side) Let me just sum it up. Only a small proportion of people get it lucky, they get the best of both worlds – What is rosy is also what is the true portrayal of their lives. The rest of them is living the beautiful lie (It doesn’t always come easy)

I can only speak from my own experience and while things were rosy. I had the opportunity to enjoy work and make good money while doing so. So, many times I try to look toward others with more empathy. Managing your own expectations is the hardest and because we all have our own aspirations, it often leads to less than expected results. However, we should always hold our heads high. Bite the bullet and move on. Sometimes pacing, slowing down before searing forward again. Easier said than done.

All of us are different and I do implore that no one look at other portfolios at 1 million, 500k or 250k at an envious level. Rather, look at things from a goal perspective and practicality. After all, everyone’s starting point is different. Look toward the end goal. Never give up and remember it is never too late to start.

One have to manage yourself as well as manage your own expectation. Every situation is different. Sometimes just purely managing time and break is not sufficient. We are built this way, some stronger than the other but lacking in other atrributes. Similar to thr concept of there are no perfect systems, there are no perfect human being. Behind the scenes, do you not think that those who seem fine has it easy too?

It is very similar to investing where everyone’s starting point is different. Today, I am lucky to have additional funds to explore and invest. Some may have just start while others may be struggling with debts or even many other issues.

I am glad I had basic financial knowledge and I understand some thing better than others.

Don’t see it as a hind or head start. It always start with an idea or a dollar. Be confident, no one else should tell you how you should be.

Remember you are not alone. Find support and community that are of like-mindedness

Lunch, Covid and Networking

On By RistrettzIn Psychology, RandomLeave a comment

Covid has change the way I approach many things at work. In the past, I would force myself to go attend at least one networking event at least once a month, meet new people or even try to get to know someone new anywhere.

Lunch was a common period to network and attend events. There were plently of opportunity and too many events (free or paid) but the choice is really one to choose.

Fasr foward three years, working from home. Having a new structure, cancelled events and reduce social interactions slowly back tracked into what I fall into. That is to become introverted.

Lunch seems to always be an extra meal for me. When you start breakfast from 9.30 onwards, 12 is too early for lunch and 3pm is too late. Yet, it is good to find a time for a logical break and get out of the space for an extended period of time.

Depending on your own company culture. Arranging lunch used to be one of my dail affairs. At the same time, lunch buddies are hard to find. However, today I really cant be bothered. I prefer to just have some me time and settle lunch somewhere. I dont mind company but if there isn’t any, it is really fine for me.

I dont know much about how many of you out there enjoy lunch. I certainly dont quite fancy it. I prefer to get the work done and then head back earlier to beat the crowd. Everywhere on the roads or public transport is just slow traffic. 2 hours of commute is really quite a waste of time. However, to a certain extent, some kind of work doesn’t have the luxury to work from home.

It does seem like readers like to understand and know more of the struggles and discussion about personal life instead of new products, promotions or deals.

Thanks for reading. Covid made me start this blog which I have put off for at least 5 years. I wasn’t sure if anyone wants to read what I pen down and if my content would attract any. At the end of the day, I also realise that penning down my thoughts through the years also let me bookmark some of the financial decisions I made previously.

Eventually, if there is an opportunity to monetise the content, I would not miss it. Writing and managing a blog is not as easy as I thought it would be but it is manageable. At least it isn’t as time consuming as editing and shooting a youtube video.

Thanks again for hearing me rant. I rant from time to time to vent mt frustrations and express some of my personal opinion. While I may not be correct, it is just my way of de-stressing.

Happy Wednesday everyone.

Money is Indeed Everything

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

Indeed in our world today, in this small island of affluent rich Singaporeans. Money is everything. It puts not just food in your mouth but also entertainment all day, all night long. What would you do without money? Cryptocurrency has taken a big fall along with traditional investments and the biggest news in town isn’t Bitcoin crashing down from it’s ATH (all time high lingo)

I also dabble in Cryptocurrency and at one point it made up about 20-30% of my entire portfolio. Which was amazing to be honest. It just raked on and on but I didn’t not take any profits. Instead I sink more into the ecosystem and punted for the 100x goal. Did I buy Luna? Did I do UST? No, I did not. Why didn’t I? I wasn’t too sure as well as I was playing MM.Finance and Dark Crypto Defi.

The Terra Luna Conspiracy

At one point I even pondered why didn’t I joined in the party at Terra Luna. But I had 0 holdings and I was wondering what did I miss out. Again, the 100x token. Unfortunately, things goes off in a snap this is part of the world and liquidity spiraled down to a level of pure single death tone. I’m not too sure how many people were hit locally but I do know there were plenty of suicidal comments online.

I read in many spaces that talked about having an asset allocation of not more than 5%-10% in your investment portfolio. But in that part of the space in my memory, it is just a 100% allocation into crpyto. I can’t help but feel sad to see it is down more than 50% but at least those were the profits that I ploughed in during the good times. Perhaps it is just time lost and research wasted.

Humble beginnings

In any case, It really brings back to the initial launch of why I started to note down my financial and blogging journey.

a. Don’t put in everything you can’t afford to lose when you invest. (Naysayers will say they took all the risk and became rich and that’s fine too if you made it) But I’m adverse. I have 2 young kids to feed, a mortgage and a car loan that is about to be paid up in a few years.

b. I’ve always been a bit skeptical about the all-in concept. How am I going to pay my bills for the next 6-12 months? Perhaps I’ve experienced this twice in my life. The first when I was in Secondary School where I had only $100 bucks in my bank account because I did not keep track of my spending. Needless to say, my parent’s scholarship eventually made up the bank book when I went to Tertiary.

This just proves that at a young age, it is hard to grasp the concept of personal finance. Especially when you can reach out and ask for money from your parents. This is non-existent in the World called America and Europe. Only Asian Parents do such things to spoon feed their previous child. (Laughing to myself – Who am I to say this as I also have 2 lovely girls)

My second experience of wiping out wasn’t exactly scary. It was when I got married and bought a house. Expenses were really tight and for a while, I scrimped really hard and saved on every little item.

My third experience was when I lost my job when I was 35. I had been living paycheck to paycheck. Bills, mortgage, expenses were what i needed but I lost my job. That made me think a lot. I was out of things for almost 18 months and I even tried to do a small business which put me in further financial disarray by the time I decided to pull out of it. Did I feel suicidal? I can’t deny it but I felt my existent in this world was worthless. But that thought didn’t stay long. So, for those guys who lost it all in Terra Luna, I can only say i feel you but money can’t buy you happiness.

Suicidal is an easy way out. Living is tougher. You can always rebuild but when you are gone, your loved ones will be distraught. Hence, the idea of depression can be really detrimental.

Cheers guys. I’m having a break today from work. Afternoon beer is a luxury – I understand that. My last few years were one of the greatest in a company whom emphasis is on getting things right and proper. Budget were never a budget issue. Everyone will have their day so keep on living. Don’t ever give up.

Conclusion

Health is Wealth guys. Don’t read it literally – Life is beyond just the money. Money gives you the capability and option to do many things. But life is beyond what you think it is. I can’t stress enough that when you think positive, you will get vibes and when you think you are young,  you will be young.

I’m not sure how many people do read this or follow me but if what I say matters to you, it tingles with you. This is human psychology. There isn’t a need to be connected physically. When things resonate, it doesn’t need to be reasonable. You just need to know it.

It is not literal. This post isn’t about money or referral or personal finance. I feel you and many of us experienced that at least once in our lives. Just make sure that it is a lesson you learned and it doesn’t deter you from exploring options. Because, you really cannot say never to something you have not tried.

Living is more important than dying. Easier said than done but get over it and restart again. With support, it will be easier but without it will just take longer.

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“

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The pictures were taken from Singlife website for this article.