How make $$$ work for u??

[Celicar]

u talking about investing so time frame longer..so nid more for holding power

 

to save 25%,is not hard ...especially dont have things that come monthly (not red colour one i mean )

 

imagine u earn $5000kafter cpf $4k,u spend $2.8k for ???wah alot leh!!

 

There you go, it depends on the base on which the 20% is calculated. Previous examples were of a relatively lower base while $5000 is comparatively higher. Bottomline, the more you earn, the more possible it is to live on a smaller % of your earning and therefore the more possible to save a bigger %.

[CH_CO]

I have yet to achieve 20mil in the bank but I'm working towards it. This are some suggestions. It might not be necessarily correct but it worked for me.

 

 

How to make money work for you.

 

1. Identify how much you actually need monthly? Hopefully this remains the same for the next 10 years. Some of the expense are expenses some can do without. I.e driving a car ( it is a luxury and if you need to 30% of your income on it , then my suggestion , take a cab )

 

2. How much can you actually earn ? Minus CPF for some.

 

3. How much you can actually save ? Please include debt. I have friends that tell me they save 5k monthly but they take a 120k loan to buy a car.

 

4. What are the investment tools you know? Best if it is passive. I.e Fixed dep , dividend stocks , property , business etc

 

5. Calculate how much risk you can take ? Or how much you are willing to lose.

 

6. Plan ahead. Calculate how much you can save and how much you need to save to actualize your plans to make $$ work for you.

 

 

Regards

Ch_Co

[Sunlight]

That could be your single biggest mistake.

 

 

Sorry.

why??

[Booboon]

becos a large chunk of the money goes towards motarlity charges in an ilp not to mention the high sales charge.

[Sunlight]

becos a large chunk of the money goes towards motarlity charges in an ilp not to mention the high sales charge.

[bigcry] now i find out. please help this noob investor

[Optix]

why??

 

1) Very low returns from these insurance-linked funds, and they are seldom guaranteed.

 

2) Almost zero liquidity. If you need the money urgently, you have to pay some form of monetary penalty.

 

In fact, you should invest your money by yourself. As much as possible, never allow someone else to 'manage' your money unless you can stomach losing it all.

 

Another advice is not to over insure yourself. Stick to Term insurance with maturity.

[Booboon]

[bigcry] now i find out. please help this noob investor

nevermind lah, treat it as lesson learnt. 10k is not alot let it flow n see wat r the returns few yrs down the road.

[Genie47]

[bigcry] now i find out. please help this noob investor

 

10k is not a lot.

 

Start all over again. Save money again to put into low cost vehicles. Remember, safety is relative.

[Roborovskii]

I'm not going to go off topic too much by defining what "rich" is; but the fact that everyone here has a decent roof over their heads, food in their stomach, and time to chat on this forums, is defining proof that YOU are "rich" enough.

 

Volatility is high and ramping up, I do encourage that people change their mindset from "investment" to "protection". The financial landscape in the next decade or so is about to change so much that you might lose your bearings.

 

Here is a preview of things to come. Cash is king? Yes, for now it is. Here is 1 quadrillion dollars.

 

[Freestylers09]

depend what insurance linked fund ..

 

infact some give a good returns....

 

1 of them..start with Singapore ... fund,China India.

 

at least i feel,better than some banks fund..infact i lost abit on bank funds,earn from insurance fund..

[Freestylers09]

There you go, it depends on the base on which the 20% is calculated. Previous examples were of a relatively lower base while $5000 is comparatively higher. Bottomline, the more you earn, the more possible it is to live on a smaller % of your earning and therefore the more possible to save a bigger %.

 

 

true also but depend individual leverage much from thier income anot is another qn

[Will_I_Am]

Can you employ me? I am in my current job for the past 11 years liao.

Needed a change desperately.

 

 

I interview 1 with 8 jobs in 3 years. each job increase a few hundred $. You dare to employ ah ??

To him its experience ind different working environment. To me its a Rolling Stone gathers no moss.

 

If I see someone with your credentials, I will auto employ, no need interview.

 

[Joseph22]

That could be your single biggest mistake.

 

 

Sorry.

 

Not neccessary, all he have to do is to pull out the fund before the next big drop.... if he know when is the next big dropped.

[Throttle2]

Not neccessary, all he have to do is to pull out the fund before the next big drop.... if he know when is the next big dropped.

 

 

Luckily it's only $10k.

 

now i think worth only $7.5k?

 

 

 

 

anyway today great singapore sale on SGX......many names look good value......grab

[Speedz76]

i am a firm non-believer of single premium ILP plans

 

why pay for all the mortality and blah blah charges in the ILP

 

ILP is packaged by

a) potenital better returns by investing into their funds (UT)

b) insurance coverage (typically between 125% to 150% of the investment lump sum? for a 10K investment, you get $12500 or $15000 ins coverage)

 

comparing to ILP, you would definitely get better potential returns by

1) investing in a similar unit trust from fundsupermart/dollardex etc.. (low sales charge), full sum less fund charge is ploughed into the investment

2) at the same time get much higher coverage by buying a term plan

 

sorry, no offence, just my 2c worth.. i am just against ILP

 

[Joseph22]

Luckily it's only $10k.

 

now i think worth only $7.5k?

 

 

 

 

anyway today great singapore sale on SGX......many names look good value......grab

 

not very sure on the market. But i am aware that the price are droping this few weaks.

 

[Freestylers09]

i am a firm non-believer of single premium ILP plans

 

why pay for all the mortality and blah blah charges in the ILP

 

ILP is packaged by

a) potenital better returns by investing into their funds (UT)

b) insurance coverage (typically between 125% to 150% of the investment lump sum? for a 10K investment, you get $12500 or $15000 ins coverage)

 

comparing to ILP, you would definitely get better potential returns by

1) investing in a similar unit trust from fundsupermart/dollardex etc.. (low sales charge), full sum less fund charge is ploughed into the investment

2) at the same time get much higher coverage by buying a term plan

 

sorry, no offence, just my 2c worth.. i am just against ILP

 

 

ya bro!i cancel mine in 6 months..thinking is v v bo hua...calculate here n there..in my layman term..cannot see any returns..

 

if individual funds still ok,dont do ILP..sure bo hua one

 

[Sunlight]

i am a firm non-believer of single premium ILP plans

 

why pay for all the mortality and blah blah charges in the ILP

 

ILP is packaged by

a) potenital better returns by investing into their funds (UT)

b) insurance coverage (typically between 125% to 150% of the investment lump sum? for a 10K investment, you get $12500 or $15000 ins coverage)

 

comparing to ILP, you would definitely get better potential returns by

1) investing in a similar unit trust from fundsupermart/dollardex etc.. (low sales charge), full sum less fund charge is ploughed into the investment

2) at the same time get much higher coverage by buying a term plan

 

sorry, no offence, just my 2c worth.. i am just against ILP

 

But the last fund my insurance agent recommended to me few years ago is making about about 10-15% ROI

What about gold?? maybe i should open a poems account and buy gold bit by bit??