I “owned” a condo at age 26, and it became a nightmare
If your parents bought you a condo at age 23, that could be seen as a real indulgence; or at least worth major bragging rights. But this week, we spoke to someone who had that exact thing happen to them – and it turned out to be a major disaster. Not every “gift” is one […]
Should your first landed home be leasehold or freehold?
You’ve saved up for years, finally reached single-digit millionaire status (or better), and now you can afford a landed home. The issue now is house hunting, and the big question of leasehold versus freehold. Unlike condos, the discrepancy between the two is much more sizeable in the landed segment; and there are some vital issues […]
How much of your portfolio should you keep in cash?
The question of how much cash to keep is a tricky one. Sink your entire capital into your investments, and there’s a high chance you’ll derail them in an emergency. But keep too much in cash, and inflation swallows more of your wealth each year. It’s a fine balancing line, and here’s how to maintain […]
Why $1 million can’t be a good retirement target in Singapore
There are any number of financial advisors who will say you need $1 million to retire in Singapore. But remember, those advisors are talking about (1) Singaporeans who are working till age 65, and (2) who have some other sort of ongoing, slow-diminishing income. If you’re one of the early retirement crowd, or try to […]
Deciphering the insane mess of how Singapore’s home loans work
So you’ve reached single-digit millionaire status, or are about to, and now it’s time to buy a private property. Congratulations, but you’ll quickly find that – while your old HDB loan was straightforward, Singapore’s home loans are a nightmare of convoluted terms and conditions, and trying to figure out what you pay is an exercise […]
Portfolio rebalancing sucks, but here’s why we do it anyway
Financial advisors like to meet you all the time about it, finance apps brag about “auto-rebalancing,” and finance students procrastinate when doing it as homework. I think we can conclude at this point that it’s (1) inconvenient and annoying for everyone, and (2) time-consuming. Like most things we hate having to do however, it’s absolutely […]
3 reasons your new wealth will wreck your existing friendships
Most of us say that wealth won’t change us, but a common argument against that is the first golden toilet seat we buy. And while that may be a slight exaggeration, it might well be how your friends see you: unless you live a hermit-like existence in a Shaolin temple, a change in lifestyle almost […]
What the heck is an ETF “replication method,” and why it matters
Exchanged Traded Funds (ETFs) are one of the most recommended financial products on the market. Personal finance website absolutely can’t shut up about these, and attribute to them the virtues of diversification, passive investing, low fees, and probably the cure for blindness and leprosy. But what’s less often explained are ETF replication methods, and the […]