Are you Over-Insured by $46,000?!


Yup, you read it correctly - You might be over-insured by $46,000! Most Singaporeans with CPF are automatically enrolled under the Dependents Protection Scheme (DPS). Visit your CPF account online to check if you are currently over-insured by $46,000! You can reduce your coverage if you are.Recommended Post: 6 Singapore Public Transport TipsThe DPS is a Life Insurance + Terminal Illness Insurance … [Read more...]

What is the Correct Retirement Mentality?

There has been a retirement debate going on on Straits Times' Forum Page. The thread was started by one of our writers. The first article can be found HERE.There were feedbacks from the general public. We have attached the articles regarding the different views HERE. We would like to post a reply to the 'Second Thread', where our writer's letter to Straits Times was not published. We think these … [Read more...]

Your summary to what’s going on in Deutsche Bank: 5x Lehman Brothers crisis

If you have't been aware of how the STI has been performing, it has dropped 1% before steadily climbing up in the late afternoon today. So what's going on that is causing all the fear and volatility? While fear of Deutsche Bank collapsing has been lingering for months, it seems that it has escalated higher where some hedge funds are starting to withdraw their accounts. This is essentially a bank … [Read more...]

Straits Times Forum Retirement Articles Thread


There has been a retirement debate going on in the Straits Times' Forum Page. The thread was started by one of our writers. We have collated the list of articles/letters that we think you should read, learn and know about! Tell us what you think: Should Retirement is an Entitlement or is it a Privilege?Recommended Post: 6 Singapore Public Transport TipsFirst Post/Thread:Retirement is not an … [Read more...]

What we know about risk is all wrong

The chance that an investment's actual return will be different than expected. Risk includes the possibility of losing some or all of the original investment. Different versions of risk are usually measured by calculating the standard deviation of the historical returns or average returns of a specific investment. A high standard deviation indicates a high degree of risk. Read more: Risk … [Read more...]

Kashmi the Meal Money Please!


There is a new financial mobile application in Singapore: Kashmi It is a friend-to-friend money transfer app. It is the kind of app for your to do bill-splitting You can create groups with people you frequently bill-split with - convenience to send a request to ask them to transfer you the money. You will get reminders on who you still owe money to - no more awkward moments when you forget to … [Read more...]

4 Things to Do at CPF Retirement Planning Roadshow


CPF is holding their 'CPF Retirement Planning Roadshow' this weekend (sat & sun) at Suntec West Atrium! There are interesting booths, this time, around at the event. Recommended Post: 6 Singapore Public Transport Tips 1) Virtual Reality Booth Find out your retirement personality at this station but more importantly: enjoy the VR experience! Play with the machine. 2) Retirement … [Read more...]

New Movie Streaming App in Town!


There is a new movie streaming app in town! Its name is Catchplay! Features: 1) It is a movie streaming service! (No, you do not get dramas or TV series) 2) There are 2 options - unlimited streaming or 1-time rental, more on it below. 3) Don't want to pay for movies? You can sign up with CatchPlay as a non-paying member (Movie Fan Plan). You get 1 free movie every month!  Isn't that … [Read more...]

6 Singapore Public Transport Tips


We have some tips for people taking Singapore's public transport every day! These tips (or hacks) are what we know of and use, but I am sure it is not all available. Do share with us if you have more tips so that we can help one another travel more efficiently.1) Keep your Travel Transfer within 45 Mins Keep your transfer between travel to within 45 minutes. If you keep each transfer within 45 … [Read more...]

You Will Never Be Able To Retire


You won't be able to retire. There I've said it. If the word “retirement” conjure up visions of white sandy beaches, lots of travel, long sips of Pina Coladas and reading all the novels you’ve never had the time to because you’re so busy working to (ironically) save for retirement - it’s not going to happen. At least not the way you think it would. Here’s why: 10. Retirement adequacy figures are … [Read more...]

Singapore University Graduates Salary Statistics 2016


This year, Computing graduates are among those with the biggest increase in starting salaries.  NUS and NTU computing degrees are new entrants to the top 10 rankings, as can be seen in the infographic.  With Singapore rolling out the initiative of Smart Nation, we expect an even steeper increase in the salaries of these IT professionals in the years to come.  It is definitely a sunrise industry … [Read more...]

Thoughts on the Singapore Government Audits

While this has not generated as much buzz as the "sexualized enacted scenes" of the NUS orientation camps (which I do not understand why this entire spectacle is an international news), this article definitely caught my attention and made me think further. The Auditor-General's Office (AGO) released a statement publishing their findings of the Government Financial Statements, after their audit of … [Read more...]

Start up Bootcamp FinTech Demo Day: Key Take-aways


As you can see from our financial events calendar, we were invited to the StartupBootcamp FinTech Demo Day on 14 July. This event was held at Gardens By the Bay in the Flower Dome, Flowerfield Hall. It was definitely a fancy affair with good ambience, innovative solutions and great crowd. The event started with an introduction of how StartupBootcamp has came along with its first expansion into … [Read more...]

What happens if my OA+SA is below BRS?


Today, we could like to address this question: What happens if my OA+SA is below the BRS? Answer: NOTHING HAPPENS!* Recommended Post: What are the Retirement Sums? 1) You do not need to personally top up your CPF accounts with your cash to reach your BRS 2) No penalty involved if you fail to meet your CPF BRS 3) It is not compulsory for your to meet your CPF BRS *4) You will … [Read more...]

Can I Opt Out of CPF LIFE?


Everyone has a goal of retiring comfortably after working more than half their lives out for money. We all hope to get a lump sum retirement fund when we reach our retirement age. But, in Singapore, our money is instead secured away and we are given a monthly income from that pool of money. Today, we will be sharing how you can get that pool of money out of your CPF! There are 2 ways to do … [Read more...]

Can I use my CPF to pay for my housing after 55?


We have got many readers asking us if they can utilise their CPF to pay for their homes after they reach the age of 55. We have found the answer for you! Answer: YES YOU CAN! When you reach the age of 55, the money in your CPF Ordinary Account (OA) and Special Account (SA) gets transferred into a new CPF Retirement Account (RA). 2 points to note when using your CPF money to pay for your … [Read more...]

What if I can’t meet the BRS/FRS?


We got many readers asking about what happens if they failed to meet their CPF Retirement Sums (or minimum sum). Today, we could like to address this question. What happens if I can't meet the BRS/FRS? Answer: NOTHING HAPPENS! Recommended Post: What are the Retirement Sums? 1) You do not need to personally top up your CPF accounts with your cash to reach your Retirement Sums 2) No … [Read more...]

Hope for BREMAIN?


    Brexit or Bremain? There is still hope for a Bremain. All is not doom as United Kingdom (UK) would require the consent of 3 other parliaments (Scotland, Wales and Northern Ireland) plus London to agree on Brexit before UK can request to be out of the European Union (EU). The ‘out of EU’ legislation that will be drafted by the London parliament needs to be approved by the … [Read more...]

POSB New Savings Plan for NSF a Good Deal?


Is the new savings plan rolled out by POSB a good deal for NSF? We went through some of the terms and conditions of the POSB to give you a full picture and the things you need to know about it! The new Savings Plan, known as POSB Save As You Earn (SAYE) aims to help NSFs earn more interest on their savings and enjoy cash rebates when they spend money.NSFs will earn 1) 2% interest (per year) on … [Read more...]

Debt Crowdfunding 101 in Singapore

There are 4 general kinds of crowdfunding in the world. They are namely donations, pledge (or reward), equity and debt. We will be focusing on the more prominently seen method used in Singapore: Debt! It was reported on Straits Times February 2016 that MoolahSense has helped 22 companies raised a total of $5 million since it was launched in 2014. What is it? In debt funding (aka … [Read more...]