May 2015 - SG Wealth Builder

Month: May 2015

Last year, during a meet up with the man behind BeMoneySavvyToday.com, Brendan Yong shared with me his insights on how to succeed in investing. Brendan works in the financial industry for 11 years and is a veteran when it comes to insurance matters.

First and foremost, most Singaporeans tend to rely on tips from friends and investment bloggers on when is the best time to invest and which are the best stocks to invest in. Most of them either are not financially savvy or have no time to do research. But to succeed in investing, there is no shortcut and you need to put in a lot of hard work. Half the game is won if you make the effort to analyse and take care of the downside risks.

Secondly, you must understand your character and priorities. Your personality and behavior determine the outcome of your investment decision, not the market. Over time, you would realize that your greatest enemy is yourself because managing your emotions is key to winning the investment game. On priorities, many of us have family commitments or hectic careers, so not many people can have the luxury of time to do stock research. For …

Authentic gold in Singapore

sgwealthbuilder

May 23, 2015

Gold

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Below is a piece of editorial from BullionStar, a bullion dealer based in Singapore which exempted investment grade precious metals from the goods and services tax (GST). Just like BullionStar, one of the the goals of SG Wealth Builder is to educate Singaporeans on the merits of owning gold and silver bullion as a means of wealth preservation. This article will discuss where to buy authentic gold in Singapore.

We often get questions on the authenticity of different products.

How can I know it’s really gold?

How can I test?

Is there a certificate of authenticity included?

Let’s address the last question first. Most bullion bars and bullion coins don’t come with any certificate of authenticity. The refinery’s stamp on the coin or bar is the refinery’s guarantee of the authenticity.

It’s after all much easier to fake a piece of paper certificate than it is to fake the metal. As a matter of fact, a metal can’t be faked, it can only be imitated in regards to some characteristics but never all.

One of the most important characteristics for gold is its high density. The density for gold is 19.3 g/cm³which is almost the highest density

…

Singapore is among top 40 countries with reported official gold holdings

sgwealthbuilder

May 19, 2015

Gold

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In the latest gold demand trends reported by World Gold Council, it was stated that Singapore central bank amassed more than 120 tonnes of gold as reserves. The amount constitutes only 2% of our reserves and the report also ranked Singapore as number 27. The top country with the most gold holding is USA, with more than 8100 tonnes of gold, followed by Germany with 3400 tonnes. Not surprisingly, North America and Europe dominated the list.

Determining the official gold holdings and demand trends are challenging, given the lack of transparency and sheer complexity of the gold market. The report by World Gold Council is based on a complex methodology of data collected from domestic sources and international trade.

The important thing that can be gleaned from the report is that there was a 17th consecutive net purchase by various governments, reflecting a sign that central banks continue to rely on bullion as a form of hedge against volatile currency movements.

Given that Singapore is neither a country known for gold consumption nor a gold exporter, our strong gold holding reflects the government’s belief in the precious metal’s status as a form of holding value. This is probably because the …

BullionStar launches new silver products and bullion competition

sgwealthbuilder

May 13, 2015

Gold; silver

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Below is a newsletter from BullionStar, a bullion dealer based in Singapore which exempted investment grade precious metals from the goods and services tax (GST). Just like BullionStar, one of the the goals of SG Wealth Builder is to educate Singaporeans on the merits of owning gold and silver bullion as a means of wealth preservation.

Nadir Silver Bar Promotion

Nadir Silver Bars are produced by the LBMA certified Nadir Refinery. The Nadir Silver Bars known for their attractive price premium offering investors more silver for their money.

Nadir is one of very few LBMA certified companies to produce 250 gram and 500 gram silver bars. As the price per gram for these bars is lower than for coins, they may serve as a good alternative to silver coins.

We currently run an exceptional time-limited offer for these silver bars reducing the price premium as much as 40 % compared to the normal price! The offer is valid until 24 May or while stocks last.

Nadir Silver Bar 250 gram

Current time-limited price: Spot price of silver + 9.9 % regardless of quantity bought!

Nadir Refinery Silver Bar – 500 gram

Current time-limited price: Spot price of silver + …

Frightening Truth about Investment-Linked Insurance Policies

sgwealthbuilder

May 5, 2015

Insurance coverage; medical shield; financial planning; personal finance

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Last month, the Monetary Authority of Singapore (MAS) launched compareFIRST with Consumers Association of Singapore, Life Insurance Association of Singapore and MoneySENSE. compareFIRST is a portal that contains information on life insurance products offered by all the life insurers in Singapore. However, way before the website was launched, last year, SG Wealth Builder had an opportunity to meet up with Brendan Yong, of BeMoneySavvyToday.com.

Unlike me, Brendan has worked in the financial industry for 11 years and is a veteran when it comes to insurance matters. Nevertheless, both of us shared the same belief that insurance is a form of protection, and never meant for investment purposes. In that meeting, he revealed a frightening industry secret on investment-linked insurance policies.

When touched on the topic that there was an initiative by MAS to promote online direct purchase for insurance products, Brendan chuckled and commented “Of course I knew that as I work in the industry. As a matter of fact, MAS had a round of consultation with the industry players on the proposed move”. However, Brendan dismissed that such a move reflected that consumers are ready to purchase insurance products directly from the insurers.

He shared that financial planners and …

Buying My First Private Property 1-Day Workshop

sgwealthbuilder

May 5, 2015

Property investment; Singapore market;

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In today’s article, SG Wealth Builder is pleased to catch up with Property Soul on her upcoming property workshop. Property Soul is one of the most well known property bloggers in Singapore and is the author of the best selling book “No B.S. Guide to Property Investment – Dirty Truths and Profitable Secrets to Building Wealth Through Properties”.

Can you share with the readers what are the key takeaways they can expect from your upcoming Buying My First Private Property 1-Day Workshop?

They will learn how to save faster to buy their first property, and what is the highest property price that they can afford. They will know where the hidden traps are, and what properties to buy or avoid for first time buyers. They will also pick up tips on negotiation skills, housing loans and dealing with lawyers and property agents.

This workshop is basically designed for first time private property buyers to help them avoid all the costly mistakes that would have cost them thousands times more than the small fee of the workshop.

What are the general profile of those who attended your seminars and workshops? Property investors, upgraders or first time property buyers?

It depends on …

How to buy gold and silver bullion online in Singapore

sgwealthbuilder

May 2, 2015

Gold

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One of the best things about e-commerce is that it allows retail investors to make orders online and have the purchases deliver to home, thus saving a lot of hassle for investors. In Singapore, you can buy gold and silver bullion online from BullionStar, a bullion dealer based in Singapore which exempted investment grade precious metals from the goods and services tax (GST). You can choose to self collect your bullion at BullionStar’s store, or opt for home delivery. Alternatively, you can choose to store your bullion at BullionStar’s vault storage.

There are 4 easy steps to buy your precious metals through BullionStar as described below. A more detailed step by step guide is available here.

Step 1: Place the desired products in your shopping cart. There is no minimum or maximum amount when purchasing from BullionStar.