Chingyee

01/01/2024

2024 has finally begun. What new habits you would like to pick up?

Is it to start heading to the gym, or to save more money, or to having more fun this year?

My 2023, I had great breakthrough in my earning income. I had other breakthroughs in my investment portfolio as well. My communication with Clients and others had improved.

So much so, I can’t wait to start 2024 working on myself. What about you?

As a financial advisor, my role is to understand about money, befriend money. I study my relationship with money and I’d like to make a relationship with you and yours, so we can set up expectations, disciplines and commitments.

All 3 pointers can be easily achieved by setting up a system and following through. There are many opportunities to help money growth.

I was reminded by a Client that it is important to top up CPF tax relief on 1st Jan to maximize interest returns on money. I take notes like these and share with you, in hopes that your relationship with your money prosper.

In 2024, I will be sharing more tips and highlight timely opportunities so that you can benefit safely.

Onward to a smashing New Year!

31/10/2023

I was reading a flyer on housing transaction as I enjoy my morning coffee. It truly amazes me, that a span of 20 years, the transaction prices of house in my area are closing to a million.

Back when I was 24, I had the urge to own my space. Back then I was desperately trying to accumulate $50,000 for the down payment of a HDB 5 room flat. (In fact, this is not as much as it is needed today.) When I realised that my then job would not bring me any closer to my goal, I went searching for a new one.

I was convinced that we have an opportunity due to the age 35 singles ruling that I will have more time to accumulate more money for better choices. By 35, more regulations were in place and more considerations to be thought through.

I was quite worn out. I decided to think less and accept what is needed at this time and age. I became happier, my bandwidth has gone wider to accept more task that needs to be done.

At this point this is what I feel about life: take a breather and enjoy what you have accomplished so far. Do not settle for less and build a life you wish with what you have. Life is too short for regrets.

24/11/2022

I am always trying to manage this 2 perspectives: Expectation(transferring money into an investment platform thinking the all roses are red and beautiful) vs Reality (application of investment strategy and waiting for the strategy to do the work seeing the results).

In life we feel reassured when we know where we are heading and what to expect.

But in the world of investments (which we need), there are many twists and turns. Even long time experienced investors will feel the stress when they need to decide what to do next.

Here’s a good way to start:
Set a goal
List out specific steps to achieve the goal
Follow the guide
Re-evaluate the guide when needed

Here’s the best way to hitting the goals:
Get a professional person you trust to help you out

17/11/2022

As I go through my client's investment portfolio, I feel that if I am not here to give guidance, they perhaps will be in a limbo to decide on what will be the next best choice to make for their investments in the stock market.

Do you feel the same? Faced with the reds, knowing that it is an opportunity for huge discount but not doing the logical move of investing more? Or look at what you have already invested in the past and fail to realize, there are strategies you could use to better set your investment ready for the upcoming bull market?

I have been preparing myself for my clients since the pandemic started. I am excited to see if what I we can reap with each opportunity.

So friends who are reading this, IF you have a portfolio and you felt s**t about it yet not knowing what to do, get someone professional to go through with you. You will see that there are areas you could better prepare your invested funds for the bull.

If you have yet to start. This is the time. Get started.

03/11/2022

"Adulting is hard". Heard that phase before? My question to you will be, how hard can it be when you don't know what is coming for you?

Before you let loose of your mind and crack your brain on what to prepare for, I would always focus on what I have now. Is my income enough to support my daily needs (food, transport, insurance, phone bills, housing bills, wifi bills and of course the daily change of clothes etc.)

Don't think too far ahead. It will paralyze you for sure. Take a breather. Everyone goes through the same course of life. Many made it, some don't and others are still trying.

There is tutition for everything. Looking for a tutor? wink

26/10/2022

I am seating at Joe & Dough minding my own business, sipping on my coffee. But I cannot help hearing conversations that are happening around me at the same time. Those that had my attention are mainly those about life choices, money choices and spending choices. I am not a busybody but my ears have no filter.

Interesting enough, the common conversations surrounds money in bank. There will be daily rants on how the banks are not giving back to their customers. Now that the fix deposit rates look appetising enough, you’d be wondering how much and how long should the tenor be? There are no right or wrong answer. My rule of thumb as always: emergency fund of 3x expenses in the bank, a systematic investment strategy in place (buy stock as and when I like it does not count), the rest can be stored into a fix deposit in today’s time with the minimal tenor. Because with the ever changing human behaviour, opportunities do pop up faster than before.

I read and deal with different money scenarios that perhaps I do have onto your current money pot?

Won’t you like to have a notification when a new opportunity comes?

14/02/2022

Ouch! I am feeling the pinch as the death of my current car is coming to an end. I have also heard from my friends that since it is already so expensive to buy a car, why not I push my credit limit and buy a car that upgrade my life status?

As I step back and look at the situation, it feels like a money trap.

Why?

A car loan maximum repayment period is 7 years. Can you imagine having to pay monthly $2,857 for a $292,100 value car for the next 7 years? That is taking into account your monthly income is $10,000. By doing a simple math, the car loan has taken up almost 30% of your income. Not adding in all the car expenses.

So how?

My suggestion will be instead of holding back on your dream of buying a car one day, why not invest your savings and before you know it, you have extra cash from your consistent investment that has compounded over time to purchase your dream car.

Need help in the investing portion, you know where to find me.

SINGAPORE - Car buyers may be in for a mauling in the Year of the Tiger, with certificate of entitlement (COE) prices now inching towards record levels. . Read more at straitstimes.com.

07/02/2022

Celebratory Mode!

More and more countries are adopting to remove Covid-19 pre arrival checks.

What does that mean to all Singaporeans looking to travel?

Read up on the country restrictions you are heading to on a weekly basis or at least a week before your travel location change to see if there is any updates.

Cannot emphasis more, hand sanitizers and KN95 mask if you need pack more of them in. Lastly, a travel insurance will help to take up the risk of missing luggage, accidents and of course Covid positive living arrangements.

Cheers! Freedom is close

Passengers must carry a valid digital European Union certificate or recognised proof of vaccination. . Read more at straitstimes.com.

04/01/2022

I am currently in USA, life is great and I manage to travel to a couple of states and visit their monuments. As my date of departure is arriving, the attached website has become my best friend. Without fail, I will check it once a day to keep myself updated with the current regulation.

I would say that we should do the same with our bank accounts. Check it once a day to be aware where your cash is flowing. If you have too many to track, perhaps it is time to come up with a system or better yet decide which accounts does not work for you and close it.

I love the minimalist concept but at the same time, there are still things we need. For example, do we have enough insurance coverage, money set aside for different milestones and most importantly do we have the ability to travel with travel expenses for a month or 2 without income?

My trip to USA has place all these different element to the test.

Cannot wait to share with you how I fare.

06/11/2021

Having too much time on hand and decided to invest in some company?

There are many methods but which will be effective for you?

For starters I have some pointers which I found useful to share.

If you still find this too much to do but want to get started on invest? You know who to look for :)

Stay health and have fun.

Article is from: https://money.usnews.com/investing/investing-101/slideshows/how-to-pick-stocks-things-all-beginner-investors-should-know?slide=9

Research is the first step before buying a stock. But what comes next? Here's what you need to know.