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ET

EthanLoh

Joined since June 2021

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Posted these popular replies

  • ET
    1 5
    RE: Pay for my child's uni education or let them pay for themselves?

    Personally, I think it makes sense to get the children to take a tuition free loan for 4 years, and decide whether you should pay down the debt with your own money, and work out a payment plan, or let your kid shoulder the burden him/herself.

    Why? Because things keep changing, and the money you may have set aside may be used for other emergency purpose. Getting an interest free loan is 1 way to juggle the need for cashflow.

    Money Lessons
  • ET
    1 3
    RE: CPF account opening for children

    Its created if government have already put in $4,000 into their medisave.

    Else, you need to go CPF board to open an account for them using their NRIC.

    Savings

Recently replied to these conversations

  • ET
    1 3
    RE: CPF account opening for children

    Its created if government have already put in $4,000 into their medisave.

    Else, you need to go CPF board to open an account for them using their NRIC.

    Savings
  • ET
    1 5
    RE: Pay for my child's uni education or let them pay for themselves?

    Personally, I think it makes sense to get the children to take a tuition free loan for 4 years, and decide whether you should pay down the debt with your own money, and work out a payment plan, or let your kid shoulder the burden him/herself.

    Why? Because things keep changing, and the money you may have set aside may be used for other emergency purpose. Getting an interest free loan is 1 way to juggle the need for cashflow.

    Money Lessons
  • ET
    0 3
    RE: SRS

    SRS itself is a tax planning tool (a way to reduce income assessible to IRAS, so you can reduce your income tax).

    Hence, there is no such thing as "sufficient or not". Unless you are talking about investing your SRS with REITs, in which you may face an issue when the REITs have a subscription to rights etc etc.

    SRS
  • ET
    0 3
    RE: Prepayment back to CPF or mortgage

    @msyeang cpf accured interest is a double edge sword. I would keep that option open so when i have a windfall, i have an option to jam my money into CPF when required.

    I would use VC3A instead so that my accrued interest continues to grow (as long as i am not selling my house). If you are selling your house, maybe repaying accrued interest makes sense.

    Mortgage
  • ET
    0 6
    RE: Keep cash or quickly clear of your housing loan

    It depends on whether your housing loan is with banks or HDB.

    If its with banks, your CPF payment will be maxed out due to the CPF withdrawal limit (120% of valuation limit if you hit BRS or 100% of valuation limit if your SA do not have BRS), and you will need to cough out cash.

    If your cash is not generating interest above your home loan, please put them to better use. I personally would put to CPF SA and MA as monies above BHS and FRS will flow to OA, and that CPF OA can then be used to repay the loan.

    Mortgage
  • ET
    0 2
    RE: Doubling up on insurance policies

    What is your objective to doubling up on insurance policies?

    In essence, it is usually a fixed expense which you need to pay, and ensure that you pay, until you do not need it.

    Maybe its easier to know what kind of policies you are doubling up and for what reason?

    Insurance
  • ET
    0 3
    RE: Stocks or ETFs?

    Its not an either or. Its more of

    (1) time horizon
    (2) segretation of spending down money
    (3) liquidity/cashflow it generates

    STocks are definitely important to beat inflation for your overall portfolio. Even a 10% is fine, because you need that money 25 years later (oh wait.. so i got so much time before i start using this last bucket of money).

    Your money bucket could be done in 2 years, 5 years, 10 years, 15 years, 20 years, 25 years.

    Each of this bucket, the cashflow should be liquid enough for you to draw during retirement.

    So it becomes easier to deploy your assets so you know when you want the money.

    The other way is to do barbell approach of keeping 3 years expenses in cash, and the rest into equity only, and sell the funds to replenish the cash only if it hits your desired rate of returns.

    General

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