r/singaporefi

Saw a few threads on people being open about their salary progression and sharing tips on how they got massive increments as they go through life, they’re all > 1 year ago so just wanted to start a new one to find out updates!

What has been your annual income progression since starting work? In the format: monthly base(total OT/bonus/other pay)

I can go first - not much to go on:

Arts degree grad working in administration

36000(3000)>42600(5000)>48000

Would love to hear more from ppl!

#Easymillionaires in SG :P That being said, some of these prices are crazy. Wonder if the market is super inflated.

>These deals accounted for 9.3% of the month’s resale volume, up from 201 transactions in August.

Almost 10% of volume being 1m is... great for owners but makes you want to tear your hair out as a "yet to buy-er".

So for discussion. People say property is a good investment. But is it only for the fist 1 maybe 2 buyers? Or true till the end (or maybe past the 49 or 50 yea mark).

I believe it to be true as long as people see it has lifetime or easily sellable. But would love to hear you guys thoughts

Looking for financial advice on my first big-ticket purchase

Hi everyone, looking for some advice on whether getting a Class 2B licence and buying a second-hand motorcycle would be financially sensible in my current situation.

Some background:

- Take-home pay: $3.2k/month

- Current savings: $59k

- Current monthly expenses: Around $600

- Starting a part-time degree at SUSS in January next year, which will take around 4 years to complete.

- Planning to use the Tuition Fee Loan (TFL) to pay for my school fees. My estimated cash outlay to repay the loan in full is around $15k, which I intend to pay upon graduation in 4 years' time to avoid interest.

- Haven't factored in personal insurance/investment yet.

Estimated motorcycle costs:

- Class 2B licence: Around $2k

- Second-hand bike: $10k–$15k upfront, including a buffer for initial expenses

- Monthly running costs: Around $300–$500, including petrol, parking, insurance and maintenance.

The main reason I'm considering getting a bike is convenience. I've been commuting to school for the past 2.5 years, and having my own transport would make things much easier.

I could probably speak to my boss about adjusting my working hours to start and end an hour earlier, so getting a bike isn't strictly necessary. However, having my own transport would give me much more flexibility, especially when juggling work and part-time studies.

And the possibilities of weekend trips nearby, i meant lifestyle improvements buttttt okayyyy

I'm generally quite frugal, with my current expenses at around $600 a month. However, this would be my first big-ticket purchase, and I'm unsure whether I'm being financially sensible or simply justifying a want.

Would appreciate some opinions on these questions:

1. With $59k in savings and $3.1k take-home pay, can I reasonably afford this without setting myself back financially?

2. Is $300–$500 a month a realistic estimate for owning a second-hand motorcycle in Singapore?

3. Would you get the bike now for the convenience, or continue taking public transport and save the money?

I'm not planning to take out a loan for the bike and would pay for it upfront. I just want to make sure I don't make a financially irresponsible decision, especially with four years of part-time studies ahead and personal insurance still to consider.

Appreciate any honest advice, especially from those who own motorcycles or have studied part-time while working. Thanks!

Anyone’s income portfolio also experienced losses in recent weeks? I’ve held JPM Income portfolio for 2+ years only for it to lose money lol. PIMCO income funds also bleeding. Any advise what to do about it? Sell? Hold? Buy more?

Hi for those who use tiger, do u use tiger vault? are there any complications cause that rates are pretty good? only buy us stock and perhaps not withdrawing for the time being.

Contemplating to sign up for the metal tier.
Monthly plan is at 22, while i heard the annual payment will be slightly cheaper.

I'm already signed up with Financial Times which cost me 25/month. The ChatGPT Go as well as Nord VPN could be useful additions as well.

Anyone is currently using them? Would love to get your thoughts on it!

Hi everyone, Im very new to this and would like to seek your advice on what to do

Here is my situation:
- graduated uni in July
- $36k Ocbc TFL with 4.5% interest starting this month
- interning now till end-Nov with $1.5k pay
- starting job w $4.2k salary in dec
- only managed to save up $10k in uni as i went on exchange and travelled extensively
- DCA $300 monthly
- both parents working, staying w parents, single so no BTO

My question is: should I put the $10k I have into loan repayment upfront?

And if my take-home is around $3.3k after CPF, is it feasible to split my pay this way:
- $400 to parents
- $1000 loan repayment
- $300 emergency fund
- $500 DCA
- $1.1k living + fun

I would really appreciate your advice!! Thank you so much

Edit: OKAY THANK YOU EVERYONE FOR YELLING AT ME 😭 I WILL FOCUS ON CLEARING MY LOAN

Maybe I was stupid but I took a cashplus loan earlier this year because my father needed help. After 3 months zero interest, I'm still paying off slightly more than minimum sum, but the interest is killing me. Im waiting for my bonus next march to one shot clear everything but in the meantime is my credit score going to be affected by this?

I plan to dca monthly in these stocks and started today:

VWRA - 1800 SGD ~ 1400 USD (in IBKR)

CSPX - 200 SGD ~ 150 USD (in IBKR)

DBS - 800 SGD

OCBC - 200 SGD

i have used IBKR for VWRA and CSPX. i want to create a CDP account for OCBC and DBS for safety. Which broker should i use for them? I am leaning towards POEMS and would like to hear ur opinions!

Edit: thank you for ur ideas! im seeing recommendations for POEMS below. Another qn, for those who use POEMS, do u use the cash mgmt acc or the cash plus acc and transfer in bulk to CDP?

Hi All, early 20s student here working a part time job and about to start internships soon, i’m thinking about starting to invest with Syfe.

My questions are as follows;
- Is there anything I should stay away from or not do?
- Is there anything I should be doing?
- As a student who currently doesn’t have a fixed salary, should I use the auto deposit feature?
- What would be a good portfolio diversification/composition

My initial thought was to make my portfolio composition:
- 25% VOO
- 25% VTV
- 20% CSPX
- 20% VWRA
- 10% Gold

But I realised that that’s just the S&P 500 over and over again, and it’s all US Based

I'm currently interested in applying for a job that requires relocation to Singapore for 5 a year contract. The pay is around 4-5000 SGD a month. Not sure if they'd provide housing for me but I'd love your guidance on how'd my life look like if they provide housing vs no housing. Since I assume the housing market for a rental apartment/condo in Singapore is not exactly cheap. As well as budgeting for food and etc.

Have been thinking of buying something like PRUActive Retirement II online/looking at other companies too, if got recommendations, feel free to share.

Recently went for a check-up and doctor said I have borderline high cholesterol (above 5.5 but below 6).

So..the question...would that affect me buying such plans online? Will I have to undergo additional check-ups by the insurance company? TLDR, is the process gonna end up being a pain in the butt?

Thanks!

Free us stocks buy and sell, free options trading. (Free for 3 months, then after that $0.99 which is comparable/standard). It even has uk stocks, unlike Moomoo. Even the currency conversion rates are not bad. For example, when I just checked 1000 sgd = 777.86 usd on syfe, comparable to Moomoo 1000 sgd to 778.56 which are both better than dbs 1000sgd = 773.92

Seems all around better than other brokers like Moomoo. And what’s stopping people from abusing the free stock and options buy and sell? Like use it for multiple quick trades without fees, or find some way to do hft.