A common question asked among many Singaporeans is, "How much savings should I have by xx years old?" Mostly, Singaporeans just ask this because they want to know if they're above or below the median. But the answer is not so straightforward, and varies among individuals in Singapore depending on personal circumstances. How much savings should I have at 35 in Singapore? As a bare minimum, the correct amount to have saved up - at any age - is 6 months of your income. Any amount beyond this should be redirected into your investment portfolio or retirement fund. This is because savings are mean to remain in liquid cash, ready to use during emergencies, whereas investments are more illiquid and for the long-term. So if you have an income of $5,000 a month, your "savings" are generally adequate if you have at least $30,000 saved up. Note that your CPF doesn't count, as it's not savings you can immediately draw on. A recent survey by OCBC says 51 per cent of Singaporeans don't have enough … [Read more...] about How much savings should I have at 35 in Singapore?
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We have different ways of using electricity. Some don’t really mind leaving lights on even when they’re not around. They look to avoid the hassle of turning their appliances off before stepping out of the house or coming back to a room with unwanted heat. Meanwhile, others are so set on keeping their electricity bill within their budget. This type of electricity consumer is more practical, saving money consistently in order to meet their needs. How do you manage electricity at home? Take this quiz below to find out. The Carrier Aircon comes with a Smart + Cool Plug and the Smart + Cool app (Android or iOS), letting you manage your A.C. more efficiently wherever you are and giving you your money’s worth. Let it be your first step in being an electricity consumer that is wiser and a lot more practical. To know more about Carrier and its other products, visit https://www.smartcool.ph/. NOTE: BrandNews articles are promotional features from our sponsors and not … [Read more...] about What type of electricity user are you?
Unrelated singles who are 35 years or older can also jointly apply for an HDB flat - up to 4 such individuals can co-own a flat this way under the Joint Singles Scheme. The only other eligibility requirement is the EIP and SPR quota (used to encourage and maintain social cohesiveness). However, this is more likely to impact your flat's location, rather than act as a hurdle against your eligibility to apply for one. As a single buyer, you have 2 choices when it comes to HDB apartments - a 2-room BTO HDB flexi flat, or a resale HDB flat. The table below presents a quick summary of the pros and cons of both options. WHICH HDB FLATS SHOULD SINGLES GET? 2-Room BTO HDB Flexi Flat (99-year lease) Resale HDB Flat More affordable (approx S$75,000 to S$158,000) More expensive (approx S$250,000 to S$343,000 for a 3-room flat) Longer waiting time (average 3 to 4 years) Shorter waiting time (You can complete your purchase in as little as 6 months) Restricted to 2-room units (35 sqm … [Read more...] about What type of HDB flats can single Singaporeans buy?
A study by the Institute for Scientific Information on Coffee may explain why you can’t sleep at night after a cup of coffee in the late afternoon while it may not be a problem for others. The report, "Genetics, Metabolism and Individual Responses to Caffeine", looks to our genes for answers. “We are all unique coffee drinkers. Our genetic make-up programs our reaction to caffeine, just as it programs our hair color and eye color,” said the study’s lead author, Dr. JW Langer. The two genetic factors that determine one’s caffeine intake are the liver’s speed of metabolization and the sensitivity of the central nervous system to caffeine’s stimulating impacts. Langer and his team found there are three types of coffee drinkers: 1. High sensitivity to caffeine People in this group most likely struggle to sleep after a cup of coffee in the afternoon because of their sensitive central nervous system and slow metabolism. It is … [Read more...] about What type of coffee drinker are you?
An OFW asks, 'Should I buy my health insurance now for my retirement in the Philippines 10 years from now?' Question: Hi Miss Rose! I wish to check your thoughts on this po. OFW po ako in Singapore. Maganda ang health insurance coverage namin dito pero gusto naming maghanda para sa aming retirement sa Pinas probably in 10 years. Naisip naming kumuha na kami ng insurance kahit na overseas pa. Kaya lang parang walang health insurance product sa Pinas na suitable sa OFW. Any suggestions po? Mag-iipon na lang po ba kami at bibili na lang ng health insurance paguwi namin sa Pinas? Ang downside po kasi e baka may pre-existing conditions na by that time. Looking forward to your inputs po. Thanks and God bless. Answer: Hi Resie. I’m glad to hear that you currently have a good health insurance coverage in Singapore. I also admire your proactive attitude about your retirement and a good retirement definitely includes your health matters taken care of. It is … [Read more...] about An OFW asks, ‘Should I buy my health insurance now for my retirement in the Philippines 10 years from now?’