Author: Seth’s Blog on Finance

Start Investing With Only $500 — Her World

Start Investing With Only $500 — Her World Quite glad that an article I have been helping a writer with has finally been published. The November 2014 issue of Her World carries the article Start Investing With Only $500, and I am pleased that it even found a little spot on the cover page. I also realised that it is quite challenging to write an article for a magazine, and also very different from writing on this blog where I have full editorial control. The article would have been quite different if I wrote it from scratch, but I suppose...

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Start Investing With Only $500 — Her World

Start Investing With Only $500 — Her World Quite glad that an article I have been helping a writer with has finally been published. The November 2014 issue of Her World carries the article Start Investing With Only $500, and I am pleased that it even found a little spot on the cover page. I also realised that it is quite challenging to write an article for a magazine, and also very different from writing on this blog where I have full editorial control. The article would have been quite different if I wrote it from scratch, but I suppose...

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Fat Fitness Trainers and Poor Financial Advisers

Fat Fitness Trainers and Poor Financial Advisers A friend tweeted something one day, and it was along the lines of him not understanding the concept of a fat fitness trainer and the idea of a poor financial adviser. It is seemingly logical and I suppose most people would agree quite readily, but I couldn’t help but cringe at the rather misguided view. A fitness trainer must be fit himself in order to be able to help his trainees become fit, right? Therefore, shouldn’t a financial adviser be wealthy in order to help his clients become rich? What does a...

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Fat Fitness Trainers and Poor Financial Advisers

Fat Fitness Trainers and Poor Financial Advisers A friend tweeted something one day, and it was along the lines of him not understanding the concept of a fat fitness trainer and the idea of a poor financial adviser. It is seemingly logical and I suppose most people would agree quite readily, but I couldn’t help but cringe at the rather misguided view. A fitness trainer must be fit himself in order to be able to help his trainees become fit, right? Therefore, shouldn’t a financial adviser be wealthy in order to help his clients become rich? What does a...

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Eating One’s Own Dog Food

Eating One’s Own Dog Food [embedded content] I came across this video and somehow got reminded of a phenomenon that occurs with insurance agents. The video shows a man — who identifies himself as a Senior Brand Manager of a vacuum cleaner company — cleaning an area of the dirty floor of a subway station with his vacuum cleaner before spilling food over it and eating the pieces off the ground. He then proclaims his upmost faith in his product’s effectiveness. “Eating one’s own dog food’’ describes what he has just did. The phrase refers to a situation in...

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Eating One’s Own Dog Food

Eating One’s Own Dog Food [embedded content] I came across this video and somehow got reminded of a phenomenon that occurs with insurance agents. The video shows a man — who identifies himself as a Senior Brand Manager of a vacuum cleaner company — cleaning an area of the dirty floor of a subway station with his vacuum cleaner before spilling food over it and eating the pieces off the ground. He then proclaims his upmost faith in his product’s effectiveness. “Eating one’s own dog food’’ describes what he has just did. The phrase refers to a situation in...

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Insurance firms must be made to justify higher premiums: TODAY voices

Insurance firms must be made to justify higher premiums: TODAY voices A reader of TODAY wrote in to the publication regarding his thoughts about the increase in insurance premiums: I see two current issues regarding insurance that impact cost of living. One is the wide range of premiums for health insurance offering similar hospitalisation coverage and the ability of insurers to hike premiums by a large quantum upon renewal. He is quite astute to note that the cost of insurance policies does impact cost of living — significantly so, I might add. I get this feeling that most Singaporeans...

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When Boyfriends Give Bad Financial Advice

When Boyfriends Give Bad Financial Advice I’ve had a few friends who went through breakups with their significant others over the past year, and incidentally, two of them had boyfriends who are in the financial advisory industry. Coincidentally, both are from the same Licensed Financial Advisory (LFA) firm. While better than tied insurance agents because of their capacity to recommend a good and proper financial portfolio, I regard this company (like many others, actually) to be a sales-focussed firm. They even made the newspaper for certain dubious business practices. I have always been curious about the kind of recommendations...

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Understanding CPF Insurance Schemes

Seth’s Blog on Finance – Understanding CPF Insurance Schemes Warning: preg_match() [function.preg-match]: Compilation failed: nothing to repeat at offset 1 in /home/technoph/public_html/sethwee.com/wp-content/plugins/wassup/wassup.php on line 3954 Warning: preg_match() [function.preg-match]: Compilation failed: nothing to repeat at offset 1 in /home/technoph/public_html/sethwee.com/wp-content/plugins/wassup/wassup.php on line 3954 This entry passed through the Full-Text RSS service — if this is your content and you’re reading it on someone else’s site, please read the FAQ at...

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Television Interview About Gold Buyback Schemes and Gold Investment

Television Interview About Gold Buyback Schemes and Gold Investment I was recently asked to speak on a television programme catered for the elderly about the topic of dubious gold buyback schemes and a few proper ways of investing in gold. I have written briefly about gold buyback schemes before, and since then the fallout from many such companies absconding with their customers’ money is apparent and all over the news: Aside from opening gold savings accounts and purchasing gold bars, coins and gold certificates from banks as stated in the video, there other ways of investing in gold such...

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Changes to Medishield from March 2013

Medishield is going to undergo several changes effective from March 2013. The most notable of these changes would probably be the increase in premium rates across the board for all age bands. People between their twenties and fifties will see an increase of about 100% in the annual premium for Medishield. A person in his twenties used to pay $33 per year for Medishield coverage. This would double to $66. The premium rates for people in their thirties and fourties have been increased from $54 and $114 to $105 and $220 per year respectively. There is also an increase...

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Topping Up CPF (and my TV Appearance)

Topping Up CPF (and my TV Appearance) Singaporeans should be quite familiar with our Central Provident Fund (CPF) accounts. The Ordinary Account (OA) is mainly meant for housing and investment. The Special Account (SA) is primarily for old age and retirement-related investments. The Medisave Account (MA) is reserved for payment of medical bills and approved insurance schemes. At age 55, the savings in OA and SA form the Retirement Account (RA), which as the name suggests, is to provide for retirement. The current interest rates of the three accounts are 2.5% for OA and 4.0% for SA and MA....

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在新加坡如何防备医药费

[unable to retrieve full-text content] I realised there is a dearth of personal finance articles for the Chinese-educated and hence I am writing a Mandarin article, hopefully brushing up my language at the same time. People with Chinese-educated parents can consider letting them read this: 新加坡的医药发达,但医药费往往昂贵,难以负担。在这里居住的人民,无论是公民还是从外国来公干的人士,应为自己的财务利益着想,谨慎防备医药费。 就业的新加坡公民每月缴交公积金 (CPF),分为三个户口:普通户口 (Ordinary Account)、特别户口 (Special Account)、保健储蓄户口 (Medisave)。 保健储蓄户口有两大作用:其一,用来交付医疗费。其二,用来交付某些保险保单的保费。这两作用都受于中央公积金局 (CPF Board) 的限制 - 大概是政府担心国人太快把保健储蓄用完。 提升健保双全计划的重要性...

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Keep Commission Model, Say Financial Advisers, Managers

A friend highlighted this article to me a few days ago and I had quite a reaction to it. The following are quotes from the article (bold emphasis added by me) and my comments: An ad-hoc alliance of about 15,000 financial advisers and managers are hoping to sway a review panel, which is considering, among other things, doing away with the commission model that most insurance and financial advisory firms use. It is entirely expected that all 13,000 tied agents would fight tooth and nail against the ban of commissions. Why? It’s simple – nobody would want to pay...

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Photos and Reflections on My First Financial Planning Talk

Please register your interest with me so that I can notify you of future talks and other useful information. Those who register will enjoy early-bird discounts on future talks. I will also be looking at sharing video snippets from this talk with people who register. I held a talk over the past weekend on “How Young Working Adults Can Avoid Buying Costly Financial Products”. I feel strongly about people being misled into being shortchanged by the industry and hence I wanted to share my experiences and knowledge on how people can avoid it. I have always experienced rather major...

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