S. M. A. R. T. Investing with TSK

The previous cashback promo offers full rebate on sales charge for RSPs until July 2020. Do u know u can potentially extend this cashback for RSPs to October 2020 (ie 3 more mths)? Yes, but u need to carefully plan your RSP investment strategy. Why? Understanding the New Promo: 1. From May to July 2020, there is a DBS Invest-Saver cashback promotion for full rebate on sales charge for RSPs until October 2020 (6mths). 2. The tnc state that u must not have any RSP holdings at the time u start your RSP. 3.  This means u have to terminate and redeem your current RSP holdings first before u can start a new RSP with a different fund to enjoy the rebates. 4.  How much can I potentially save? 0.82*3 = $2.46 or 0.5*3=$1.50 5.  Is it worth the effort? If I purchase funds with sales charge of 0.82%, it might be worth it. How can I benefit from this new promo? 1.  I started a new RSP UT(2) in Feb 2020 because I clo...

Just received an email from “Rich Dad” - New Rule #1: Spend, Don’t Save! Old Rule #1: Save Money – but it will not make u rich?  New Rule #1: Spend, Don’t Save! ("In the new rules, it is more important that you know how to spend your money , not just earn or save it. In other words, people who spend their money wisely will always be more prosperous than those who save their money wisely. Of course, by spend we mean invest or convert your money into long-lasting value. The rich understand that in today’s economy you cannot become wealthy by sticking your money under a mattress—or even worse, in a bank. They know that the key to wealth is investing in cash-flowing assets. Today, you need to know how to spend your money on assets that retain their value, provide income, adjust for inflation, and go up in value—not down.”) Hmmm... interesting change in mindset? So have I been spending more to make me rich? I spend on RSP so I can earn more bonus in...

Continued from Part 1  (click to read) Yes, this is real!  U can boost your DBS Multiplier Account Interest to 5.1% p.a. on 25k from March 1 2020.  Or 4.3% p.a. if u maintain a balance of 50k! How? There is now an Angbao promo: Get $200 Ang Bao if u open a new Multiplier Account online with fresh funds. Yes, receive S$8 Ang Bao with every S$1,000 fresh funds deposited. So if u deposit 25k, u will get $200 Ang Bao. That is 1.6% p.a. interest on your 25k for 6mths. Or 0.8% p.a. interest on your 50k for 6mths. This is bonus interest on top of what u can already get on 25k or 50k in your Multiplier Account if u can meet the requirements. With 50k, I can meet Income + 2 categories (credit card and RSP) with total transactions to help me achieve up to 3.5% p.a. Add 0.8% to 3.5% = 4.3% pa on 50k for 6mths! Bingo! What did I do? I closed my existing Multiplier Account after bonus interest was credited in Feb and then Opened a new account o...

Yes, DBS Multiplier Account is now more attractive than before, at least for me. Why? The real secret is in Part 2 of this article which I will only release on March 2, 2020. How to qualify for 3.5% p.a. on first $50k in DBS Multiplier Account? A. Meet Income (Mandatory) + 2 more categories (ie credit card and investment) Income – credit mthly salary and/or dividends via giro from CDP. If you cannot meet DBS multiplier criteria for salary credit via giro, u can explore the following options: a. Open a POSB/DBS joint savings account with family members who can credit their salary via giro to the join account. Then all joint account holders will qualify for bonus interest in their own Multiplier Account. b. U can build a mthly stream of dividend credits from CDP by purchasing SSB (Singapore Savings Bonds). Just purchase $500 of SSB every month for 6 consecutive mths. This mthly purchase will generate dividend credits every 6 mths. Credit ...

If you can spot the suggested solution already detailed in my prior article here this morning, then all the upcoming changes on Feb 1 2020 will not affect you. Yes, all these changes will be transparent to you if you implement this solution before 15 Feb 2020. What is the suggested solution again? Simply start a Regular Savings Plan (RSP) of $100 per month before Feb 15 2020 to qualify for the Investment Category from Feb 2020 onwards, valid for 12 months. What is RSP? You can read  all about RSP here at DBSwebsite. I provide a summary below: Objective of RSP: The primary purpose/objective of this RSP is just to help you earn bonus interest on the Multiplier Account. It is not meant to be an investment of monies for long term gain. You can either invest in ETFs or Unit Trusts. Read the link above for the 4 ETFs and the  list of Unit Trusts  eligible for RSP. Because my objective is just to earn interest, I will have to ch...

A quick overview of the major changes to the DBS Multiplier Account terms and conditions effective Feb 1 2020 (Just announced at DBS website today): The GOOD If u dun qualify for salary credit in the past, u can now qualify with dividend credit from CDP. A new “category” called INCOME is created. This comprises either (1) salary credit or (2) dividend credit from CDP ( see note A below ). This INCOME “category” replaces the current salary credit “category”. So those without salary credit can now qualify for multiplier bonus interest with dividend credit from CDP ( see note A below ). Those who have built SSB ladder to generate mthly dividend credit fall under this “category”. DBS listens to your feedback! Your difficulty in meeting the salary credit requirements, mostly not within your control, have been resolved. Many companies might switch from giro to more cost efficient payment or transfer methods in the future, so this is a pos...

DBS Multiplier Account Bigger at $100k @3.65% Wow, my FRIEND was faster than me in securing DBS Multiplier Account with $100k @ 3.65%! FRIEND agreed to this interview writeup for sharing with my fans. Q1. How FRIEND managed to “HACK” so fast? A1. Have spare cash, deciding between topup to CPF or add to DBS Multiplier Account. But you said CPF SA Hack is now at “risk” should the “auditors/authorities” investigate and take action . So decided to explore DBS Multiplier Account “Hack” instead. Now FRIEND earning 3.5% on $50k DBS Multiplier with salary+ 2 more categories, with DBS “Hack” using POSB joint savings account. So just need one more category to earn 3.65% on $100k. Was exploring the suggested “SSB Ladder” vs RSP Unit Trust. Q2 So not choose “SSB Ladder' ? A2 “SSB Ladder” need to wait 6 mths later, then CDP dividend received qualifies. I like “SSB Ladder” as it is just another way of saving money with guaranteed interest, no risk if ho...

DBS Multiplier Account Bigger from May1,2019! (updated with DBS announcement on May 1, 1.25am) Yes! Max cap at $100k!  But broken down into first 50k and second 50k,  with up to 3.65% pa effective interest, that's $3650 interest per year or $ 300/310 per mth! The best savings account to multiply your money at up to 3.65% p.a. with no minimum salary credit, no minimum credit card spend, and if u can hit a total of 4 categories, with total transactions of more than $30k per month! A.  And DBS teach you how to “Hack” if you do not have salary credit or do not have Investment Category, so u can still qualify to earn up to 3.5% pa interest, hurray! How to “Hack” Setup a Joint Savings Account (eg POSB savings account with You & Me) Giro You's salary to Joint Savings Account Giro Me's dividend credit from CDP to Joint Savings Account Bingo, all You, Me personal DBS multiplier accounts will earn bonus interest, w...

Boost Your OCBC360 Interest Rate to 3.55%pa from April 2019! Yes! You can easily boost your OCBC360 account interest rate to 3.55% pa on alternate months! Yes, if you can meet the salary crediting and credit card spend criteria, you can play this game. Here is how you should play this game to earn 3.55% pa on alternate months, giving you an average of 2.75% pa on $70,000! 1   Open OCBC360A (personal) and OCBC360B (joint with sibling, eg) 2   Mth0 = OCBC360A = OCBC360B = zero 3   Mth1 = OCBC360A = $70k (credit salary=1.6%+ credit card $500=0.45%+Stepup =0.45%+Boost=1%+Base=0.05%) Total = 3.55% 4    Mth2 = OCBC360A = 0                   OCBC360B = 70K (credit card $500=0.45%+Stepup =0.45%+Boost=1%+Base=0.05%) Total = 1.95% 5    Mth3 = OCBC360B = 0                   OCBC360A= 70K (repeat from step 3) ...

Wow!  Just saw in today's Sunday Times! Get $100 worth of NTUC Vouchers for every 10k fresh funds deposited into Passbook Savings Account, no limit!  Funds will be earmarked for 6 months. Plus get a limited edition Gold or Rose Passbook when you open the account at the branch! That works out to be 2% pa interest! I can get NTUC vouchers at 5 to 10% discount, so that is about 1.8% to 1.9% pa interest on 10k for 6mths!

Yes! You can easily boost your OCBC360 account interest rate to 3.26% per month on alternate months! Yes, if you can meet the salary crediting and credit card spend criteria, you can play this game! I used to play this game before OCBC removed the “boost bonus” in the previous Terms and Conditions. Many people also followed me to play this game and all started to terminate their OCBC360 accounts when the “boost bonus” was removed. Now the “boost bonus” is back, and OCBC can expect more OCBC360 accounts to be opened to play this game! Oops, provided savvy people know how! Here is how you should play this game to earn 3.26% pa on alternate months, giving you an average of 2.52% pa on $73,000 Open another OCBC360 account (eg. joint with sibling, Account B), transfer $70k into the account. Keep your first OCBC360 (Account A) at $3,000 with salary credit arranged Charge $500 every month for each of the 2 accounts. You need to arrange a credit card for the seco...