Don’t you agree that the previous definition of Specified Investment Products was way too broad? Now, you’ll no longer have to jump through hoops just to invest in Exchange-Traded Funds (ETFs).
Last month, the Monetary Authority of Singapore (MAS) announced that it would be opening up more investment options to help strengthen retirement adequacy.
One of the changes was to make it easier for local investors to buy Exchange-Traded Funds (ETFs) – index funds that passively track a benchmark.
MAS said it is doing so in response to market feedback that “funds which make limited use of derivatives are relatively less complex and should be made accessible to retail investors” (that’s everyday individual investors like you and I).
If you ask us, it’s a change that’s long overdue.
Under the new rules, only ETFs that use derivatives substantially will be classified as Specified Investment Products (SIPs). In other words, a number of ETFs – predominantly cash-based ones, those that trade in gold as well as those that use derivatives only for hedging or efficient portfolio management purposes – will migrate from the SIPs camp to the Excluded Investment Products (EIPs) umbrella.
This is great news for individual investors, especially if you’ve been griping over …read more
By Singapore Man of Leisure
When it’s our MRT circle line of course!
I don’t know about you, but it looks like a horseshoe or omega line to me.
Reminds me of the story about the Emperor’s clothes…
Almost circle is not a circle.
Just like almost first simply means you came in 2nd best; nobody remembers those who came in at 2nd place….
Of course I understand the engineering feat and financial resources to link up Harbour Front and Marina Bay is not something for faint hearts.
You mean the land reclamation and port development works at Tuas is less?
Enough looking at others.
Now look at ourselves.
Are we not doing the same?
Our circle is not complete, yet we tend to speak and act as if it’ a full circle!? OK, not you. You are complete. But I’m sure you have this experience with a colleague, neighbour, or school mate?
How about mouthing work/life balance and going home on the dot at 5pm, and upon reaching home we lock ourselves in the room to read annual reports or marvel at squiggly lines or candlesticks?
Yeah, work/life balance my foot.
Our circle is not complete – just like our MRT circle line.
[Photo Credit: Palani Mohan/International Federation Red Cross and Red Crescent/EPA, via The Guardian]
Nepal needs help – and fast. If you’re thinking about lending a helping hand to the quake-wrecked country, now is the time to act. Here’s what you need to know before donating.
Words by Belinda Lim
The post Nepal Earthquake: Facts & Figures You Need to Know [Infographic] appeared first on DrWealth.
By Alvin Chow
We were interviewing numerous job candidates in the past two weeks. As amateur bosses, we had to learn how to ask the right questions to figure out as much as possible about each candidate. A lot of insights can be drawn from these conversations and it definitely felt different sitting on the hirer side. In this article I share my thoughts about the wrong mindset to have during an interview. This is not an article to bash our interviewees. We do not do that. We publish this article for the purpose of helping interviewees to improve themselves for future interviews. Also, we are a startup which means what we look for may be different from the bigger corporations.
#1 – I want to learn
“…ask not what your country can do for you — ask what you can do for your country” ~ John F. Kennedy
We met a few candidates who told us their motivations to look for another job. They said that they saw no growth in their current jobs and wanted to look for new areas where they could learn. Usually the job they seemed was a different field and hence they would have no experience nor knowledge in what …read more
By Singapore Man of Leisure
They are not the same.
Let’s use the Singapore Pools’ 4D example as most Singaporeans can relate to it:
$1 bet can win $3,000 if bet with Small option.
Maximum loss is $1
Maximum win is $3,000
Risk/reward ratio is 3,000 to 1 (Good or what? A 3,000 bagger!!! Peter Lynch who?)
The odds of your 4D winning the first prize is 10,000 to 1 (Source: Singapore Pools website)
Seeing the whole picture
If I’m a snake oil salesperson trying to promote an investment/trading vehicle, of course I would only stress the Money Management part, and conveniently avoid mentioning the Risk Management part.
Anyone one here were sold on the benefits of buying Options?
At most can only lose the premium right? (Same as 4D example)
But our winnings are unlimited!!! (A bit like Toto snowball upsized!)
Isn’t the risk/reward enticing?
But what if I tell you now that 75% of options expire worthless? (Source: CME reports)
Can it be the same persons encouraging you to buy options are the same ones who are taking the opposite side of the trade against you? (Tip: Alarm bells should ring if the guru “strongly recommends” a options broker or platform to you. Why do tour guides bring you to a …read more
Brace yourself, brides and grooms-to-be: it ain’t cheap to get married. Unless you’re rolling in dough like Mandopop king Jay Chou, who reportedly dropped NT$23 million (S$1 million) on his wedding ceremony alone, chances are you’re going to need some financial advice for the big day. Read on for an estimate of the total costs involved, plus tips on how to plan your dream wedding on a budget.
So you’ve popped the question to your partner and the two of you are now preparing to walk down the aisle together. Congratulations! We wish you a happy and lasting marriage.
Before you dive headlong into wedding planning though, stop to take a look at your finances first. Be honest: how much combined savings do the two of you have? How much of it are you prepared to spend? Can you and your partner come to an agreement on what your “dream wedding” would look like? More importantly, will you have enough money left after your wedding to pay for your house and (future) children?
Ask these questions so that you can start your marriage on the right financial footing, and not end up saddled with debt by the time the party is over.
Wedding …read more
By Singapore Man of Leisure
Both of them are sitting at their spot at Changi beach.
The sun is setting.
The shimmering waves providing the backdrop to the silhouettes of people jogging, cycling, and rollerblading by.
He turned and look at her.
Her face glowed in the amber of the evening sun.
Gently, he stroked her long tresses behind her ear.
Surprised, she whispered in a embarrassed voice as she brushes his hand off, “Stop it. People may be watching…”
“You are so beautiful,” the man looked intently into her eyes.
“Stop playing around.”
Bashfully, she turned her head to avoid his eyes.
But her hand reaches out to his hand.
Silently, both of them just sat there enjoying the evening breeze.
“Grandpa, grand ma!” a little boy of ten shouted.
“Mother says the barbecue is ready. Come back to the chalet!”
Gingerly, she helped her man rise up from the park bench. And handed him his cane.
Two weeks ago, a Singapore TV presenter shared a Mathematics question on his facebook feed. It involved a character called Cheryl and her friends Albert and Bernard.
As good friends go, Albert and Bernard wanted to find out about Cheryl’s birthday and perhaps send over some greetings via facebook or such. Cheryl was coy though, and only told each of them separate pieces of information about her birthday. Albert and Bernard had to work together to figure out her birthday before they could even get close.
Love triangles are fascinating. This one is no different and it captured the imagination of the population. It went viral in a flash. For a few days, no conversations I had with my friends went by without any mention of Cheryl and her birthday. The international news networks picked it up and CNN, BBC and the New York Times all ran articles on it. It even has its own Wiki page.
The question was tough. So tough that it prompted outrage initially when the question was thought to be from the Primary 5 examination. It was later clarified that the question originated from the Singapore and Asian Schools Maths Olympiad (SASMO), a competition …read more
By Lionel Yeo
I was a pretentious jackass when I was 20 years old. For example, I thought that lip-syncing to Mark Ronson’s “Ooh Wee” (complete with rap hand gestures) in Phuture made me look really cool. I still cringe when I think about it.
Fast forward 10 years: I’m a little more mature, a little more stable and I no longer go clubbing. I still lip sync to songs but I do it while driving because no one can see me. I have some work experience, a bank balance, and an investment portfolio.
Looking back, my twenties were filled with tremendous change: I served in the Army, studied in the US and the UK, and had 4 job postings in a large MNC. I’ve been on everything from $10-a-day backpacking trips to flying First Class. I choreographed and danced for 4 dance crews. I built products, wrote books, and sold them both. I started this blog and grew it to what it is today.
I just celebrated by 30th birthday yesterday, so I wanted to distill 10 lessons I learnt from my twenties. If you’re in this incredible period of your life (or if you’re just feeling a little reminiscent), I hope you …read more
Just like spending, saving is a case of mind over money. That’s good news, because it means that with the right conditioning, you can outsmart your brain into saving more. Here’s how.
Singapore is a dreadfully expensive place to live in. After all, we’ve topped the charts for the second year running as the world’s most expensive city. Basic groceries and clothes cost 11% and 50% more respectively in Singapore as compared to New York City (shocking, we know). And let’s not even get started on the costs of public housing and private transportation.
So all things considered, it’s not surprising that many of us feel like our salaries are barely enough to cover our basic expenses, let alone for us to afford to save.
What we should remember, however, is that it is still possible to save – and a substantial amount too – even if you’re earning only a meagre pay. Just check out the story of how our writer, Budget Babe, managed to save $20,000 a year on just $2,500 a month.
How did she do it? By sheer willpower and discipline.
To help you replicate her success and morph from spender to saver, we’ve rounded …read more