Author: Derek Lim

What to do if you are a victim of Credit/Debit Card fraud?

Recently, my wife was an unfortunate victim of a debit card fraud. You can read about her experience here: Naturally she was upset but she stayed calm and proceed to: Call the bank to inform them of the fraudulent charges and to cancel the card. Make a police report and inform the bank again once the report has been made. Contact the merchant. In her case, the merchant was Uber but she was unable to find their contact number in Singapore. She had to contact Uber via the app and fortunately Uber replied her via email. Unlink the card...

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Why Dollar-Cost Averaging is overrated

Dollar-Cost Average (DCA) is a very popular investing technique and I believe it is probably one of the first few techniques that new investors will come across. With so many books and articles explaining the benefits of DCA, I also think that it is well suited for a lazy investor like me – put in a fix amount every month and let father time do its magic. The returns may not be fantastic but I should be able to earn a decent 4 to 5%. I had the opportunity to take part in ST Engineering (STE) share ownership scheme and put...

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Being Employed Is a Fulfilment? [My Personal View]

A heavy topic for the festive season but it is actually quite mind stimulating. I belong to the camp that advocates employment. My reasons are it gives me the opportunity to meet different people of different cultures, participate in office debates, discipline to drag myself out of the bed and the list can go one and on. I still want my financial independence but I will still want to work after achieving that. Somewhere into the discussion, I realised that Frugal Daddy doesn’t hate his job. He just want to have control over his time and ‘destiny’. He does not...

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Financial Independence In Progress

I intend to publish this post only after Christmas but a fellow blogger couldn’t contain his excitement and drew curious stares – which is a good thing. It started a few months ago during a casual conversation with my blogger friends. Wouldn’t it be nice to have something in common to wear during our gatherings and better still easily identify one another on the street? That is where the idea of wearing a T-shirt was born. I know most financial bloggers prefer to keep a low profile and apart from the few financial blogger gatherings, the next most common...

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Will Insurance Deny a Claim If Death Is Due to Suicide?

La Papillion a fellow friend and blogger wrote about “Financial competition” and my impression is that one’s purpose in life is not to chase after wealth and that parents should play a part. However the comments soon digress into talking about suicide. Suicide is a taboo topic especially in our society. I have to admit I do not usually give much thought to this insurance clause and I believe most would not too. Nevertheless it piqued my interest and decided to read up more. I came across the article “3 Terms and Conditions That Will Void Your Life Insurance Claims”...

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BIGfatpurse Investors’ Conference 2016 – Five Free Tickets To Be Given Away

Update: 22 October 2016 Thank you everyone for your participation. It is another overwhelming response and I will be contacting the selected readers soon. For those who miss out, the organiser has gave me a discount code “TFS” where you can still purchase the tickets at the early bird price of S$39. Another investment talk on the horizon, this time alongside Alvin and Louis, BigFatPurse has invited a panel of trusted external speakers who are experts in their field of investing. Date: 5th November 2016 (Sat) Time: 1 pm to 5 pm Venue: Lifelong Learning Institute (Paya Lebar) Topics...

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TheFinance.sg is now in NewsLoop

It has always been my vision to create a more vibrant finance community and I was given the opportunity to work with NewsLoop – a news aggregator mobile app by Singtel to publish the articles in TheFinance.sg. I will also like to thank Adam from The FifthPerson for the link up. It works in the same way – only Personal Finance and Investing articles will be published in NewsLoop and readers has to click on the read more link to your site to read the article in full. I believe that this will enable bloggers to reach out to a larger audience...

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Profit Mastery Seminar 2 – Five Free Tickets To Be Given Away

Update: 11 October 2016 All the tickets have been given out and I will be contacting the selected readers soon. From the organiser that brought you last year Profit Mastery Seminar and the inaugural Personal Financial Investment Seminar, they are now holding another seminar – Profit Mastery Seminar. Seminar: Profit Mastery Seminar 2 Date: 23 Oct 2016 (Sunday) Time: 1 to 5 PM Venue: NTUC Auditorium Organizer: Wealth Directions Topics And Speakers: Keynote: Micro economic outlook- Too low for too long. – Mr Song Seng Wun Social Trading:  Many is better than one when it comes to trading.  – Ethan and Roland Liew Factor...

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Will SMRT be privatised?

SMRT shareholders will be voting on Temasek Holdings’ proposed buyout of the public transport company this Thursday – 29 September. Based on the poll I started in July, a whopping 65% feels that the offer price of $1.68 is unfair. For the privatisation to be approved, more than 50 per cent of the total number of shareholders – who hold at least 75 per cent of the shares held – must vote in favour. This excludes shares held by Temasek, which is not eligible to vote. The poll is by no means an accurate assessment as it is not restricted to SMRT...

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My Accident and Insurance claims

I met with another accident while playing football. You can read about the injury here. This is my second major accident and after my first, I decided to sign up for another accident plan. I know some will say accident plans are a waste of money let alone having two. However, being an accident prone person accident plans are important to me. Time Line of the accident: 16 July (Day of the accident) Went to A&E @East Shore and took X-rays. Referral letter to see a specialist. | Total cost $220 19 July Went to see a private specialist....

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Transferring Shares from SCB to CDP

August is approaching and Standard Chartered Online Trading new rates will come into effect. This also means goodbye to SCB as I am not going to pay $10 and have my stocks in a custodian. I have also decided to do a stock take of my stocks in SCB to see if it is worthwhile to transfer the stocks to CDP – having a central place to check my stocks is easier. $10.70 (inclusive of GST) per 1000 share per counter transferred, up to a cap of $107 (inclusive of GST) per counter; transfer charges may be levied depending...

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How much shares should I apply in a IPO?

A new IPO Advancer Global Limited is in town and based on what I have read so far, I believe there will be a strong demand for it. It does not help that only 2m shares at a price of $0.22 are available to the public and that works out to $440,000. A person with deep pockets can easily sweep up all the shares but I know it cannot happen. A few bloggers shared that one should minimally apply 100,000 shares to have any significance. But why 100,000 shares? Does this give me the highest chance to get the most amount...

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Brexit Poll: Do you want Britain to leave the European Union?

The UK will hold a referendum on June 23 to decide if it will stay in or leave the European Union. A decision by Britain to leave the EU would result in a “negative and substantial” hit to the economy, “permanently lower incomes” and harm other European states, the International Monetary Fund has said. Source: http://www.ft.com/eu-referendum Several bloggers have also shared their views and you can read them here. I have also talked to a few friends and their opinions are divided.  Some want Britain to leave so that they have the opportunity to load up more stocks while others ares...

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Poll Result: Will you continue to use Standard Chartered Online Equities Trading?

Thanks to all the readers who participated in the poll. A total of over 900 votes were gathered and the majority states that they will stop using Standard Charted Online Equities Trading. Quite a fair share is still undecided though and about 20% will continue to use it. My guess is that there are a fair number of readers who are eligible to be a priority banking customer and can still enjoy zero commission. Comparing the poll results to the one last year yield an interesting finding. In February 2015, Standard Chartered Bank announced that they will be closing their...

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Goodbye Standard Chartered Online Equities Trading?

I received a letter from Standard Chartered bank stating that they will be revising their fees for their Online Equities Trading platform from 1 August 2016. The fee structure is as below. I should have seen this coming but I was probably more concern whether Standard Chartered Bank will close down its equities business. I guess the answer is no for now but I wonder how long more will they last with their latest fee structure. I use Standard Chartered Online trading quite often  and how will this impact me? Scenario A: I started accumulating STI ETF at various price...

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