How To Maximise Your Returns Investing In Gold With Everest Gold

The arguments of having gold in your investment portfolio have already been well articulated by scholars, but do you know how to go about doing it in Singapore in a cost-efficient manner?

The traditional way of buying gold jewellery and passing it down to the next generation is highly cumbersome and costly. Purchasing gold bars from a bank and storing them in a vault will not be cheap either. Fret not, your chance to start building your own dream gold portfolio is finally here with the launch of Everest Gold in Singapore.

Traditional Ways Of Investing In Gold

The most traditional way of investing in gold is to purchase and store gold jewellery at home while waiting for capital appreciation. However, this is a costly way of investing in gold because of leakages such as workmanship costs and 7% GST on the purchase price.

The other way of investing in gold is to purchase gold from the banks. However, there is often a minimum quantity to purchase which may put it beyond the reach of retail investors who do not have a significant amount of money to set aside in the first place.

Purchasing gold directly from the banks is also not a cost-effective way of investing in gold because of the significant bid-ask spread and storage fee charged by the bank. Bid-ask spread at the bank could go as high as 30% while storage fees are often levied as a separate service charge at 0.25% of the current portfolio. All these fees significantly dilute the returns investors can potentially make from gold.

An Elegant and Tech-savvy Solution To Own And Trade Gold

To maximise your returns from investing in gold, you should own and trade gold on Everest Gold. Everest Gold is a fintech company working to make gold trading and investment accessible and affordable for retail investors on a secure online platform. Everest Gold uses 999.9 pure investment-grade gold. Its 1kg gold bars are obtained from Metalor Technologies Singapore Pte. Ltd, which is a wholly-owned subsidiary of Metalor Technologies International SA, the leading worldwide precious metals refiners based in Switzerland.

Everest Gold employs advanced technology which allows clients to track real-time gold prices as they seamlessly build, invest, trade and sell their gold portfolios. Here are the key cost advantages of using Everest Gold to invest in gold:

  • Affordable: No minimum amount required such that the capital investment is low. Start trading gold from as low as 0.01g of gold!
  • Trade with peace of mind: Your investment assets are fully insured.
  • Lower gold price: Benchmarked against international gold price, price of gold sold on Everest Gold is significantly lower than banks (USD$0.558 vs USD$0.783 per 0.01 of gold) during its Gold Subscription Event
  • Maximise Returns: No transaction fees mean all your principal are invested in the possible capital appreciation of gold
  • Accessible: 24/7 trade for instantaneous liquidity, something which the banks cannot provide

Additionally, investors do not need any specialised trading experience to yield higher profits when investing in gold via Everest Gold. Everest Gold is truly the most affordable and accessible platform for retail investors to start investing in gold today. Say no to workmanship cost, GST, high bid-ask spread and storage fees once you start investing in gold via Everest Gold.

Everest Gold is available for download on Android, iOS and desktop. 

For more information, visit https://everestgold.sg 

Enter referral code “WAVTW” when you register your Everest Gold account. Be rewarded with 300,000 reward points (worth US$30) for each successful account verification. Promotion valid till 31 July 2020.

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Sign your kids up for these useful enrichment classes to teach them about money management

Money management for kids

According to the Ministry of Education’s (MOE) mathematics syllabus, your child would begin learning more about money from primary one. To be more specific, they will start learning how to count in cents up to a dollar, and in dollars up to 100 SGD.

By the end of their primary one academic year, they should be able to solve one-step problems like the addition and subtraction of money in dollars or in cents. But learning how to count is vastly different from money management. While it is part of the learning process, not every child grows up to be a financially literate adult.

If that’s your concern, skip the usual piano lessons and sign your kids up for enrichment classes that can groom them to be better money managers. We think this is an important life lesson that MOE schools may not have placed enough emphasis on. Hence, we’ve sourced out three platforms that offer such classes.

#1: STAR HORIZON
Financial literacy for teens

Image Credits: Star Horizon

Star Horizon offers financial literacy courses for kids, teens, and adults. For the sake of this article, we will focus on their kids and teens syllabus. Feel free to head to their website if you’re keen to learn more about the course for adults.

Kids syllabus (for 9 to 12 year-olds)

Targeting upper primary school students, their kids’ workshop will teach your children about the forms and history of money. They will also learn about how money is earned. In addition, there will be exposure to the importance of savings. Your little ones will be able to differentiate their needs from wants and set their own budget.

Teens syllabus (for 13 to 18 year-olds)

Their teens’ syllabus will target secondary school to junior college students. They will learn about cash-debt management including types of loans, credit card problems, and even bankruptcy. 

The syllabus has also included investment-related topics like shares, unit trusts, and property. Furthermore, your teenager will be able to learn in-depth about risk management and insurance too. To put the icing on the cake, there will be field visits to corporate companies. Talk about positive exposures!

#2: CIVIL SERVICE CLUB
ways-to-make-saving-fun-for-your-child

Image Credits: DBS

Civil Service Club is also another avenue to look out for. They have a course named ‘Introduction to Financial Awareness for Children’. Aimed at children aged 7 to 12, it will provide kids with basic financial awareness. They will also understand how money decisions are influenced and learn to develop wise money management habits.

#3: MONEYTREE
learn about money through play

Image Credits: MoneyTree

Founded in 2008, MoneyTree claims to be the leading financial literacy education provider in the region. To prove their credibility and give you peace of mind, they have had partnerships with MayBank in 2009 and 2016.

Their programs are specially catered for children and youth aged from 7 to 22. However, they work a little differently from the average enrichment schools in the market. They are currently only partnering schools to offer their Financial Literacy in School (FLIP) program.

However, parents or caregivers can look forward to their Financial Literacy Pack launching soon. Instead of sending your kids for enrichment classes, you will get resources from their online learning portal to equip you with lifetime skills to coach your kids on money matters. How cool is that?

Money management is important and it’s good to start them from young. As the famous Chinese proverb goes, “Give a man a fish and he will eat for a day. Teach a man to fish and he will eat for the rest of his life.” Over to you to decide!

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Great Eastern’s GREAT Comprehensive Care insurance for freelancers

Freelancers, rejoice! Great Eastern has rolled out an insurance just for you. Coined as the ‘GREAT Comprehensive Care‘, it allows you to enjoy the healthcare support you need for lower than a dollar a day. Now, you can continue the flexibility you’ve always fancied without worrying about coverage.

The insurance is a policy in partnership with Doctor Anywhere. Doctor Anywhere is one of the telemedicine providers we’ve previously covered in one of our articles. Carry on reading if you’re keen to know more about the key benefits and more information about the insurance plan.

#1: KEY BENEFITS

There are three main benefits of the GREAT Comprehensive Care insurance. They are convenient outpatient care, personal accident coverage, and daily hospital cash.

Convenient outpatient care

This refers to the online video consultations with a doctor. You can benefit from up to 12 consultations via Doctor Anywhere. Say goodbye to physical queues and hello to convenience from the comfort of home, wherever that might be.

Personal accident coverage

Get the protection you need against death and Total and Permanent Disability (TPD) in the case of an accident. First up, for deaths and TPD due to an accident, you will get 100% of the sum assured as stated in your Certificate of Insurance. Next, for deaths in Singapore due to COVID-19, you will be assured 10,000 SGD.

Daily hospital cash

In short, you will receive a daily hospital allowance if required to stay in a hospital in Singapore. This only applies if you’re warded for at least 12 hours with the reason being an illness or accident that has happened within 36 hours. There’s also additional daily cash allowance if you’re admitted to the Intensive Care Unit (ICU).

Exclusions may apply.

#2: BASIC AND DELUXE PLANS

There are two plans to choose from – basic and deluxe. The key difference is in the maximum payout amount should you submit a claim. Thus, do expect to pay a different price under each plan.

Price

The basic plan starts from $264 per year while the deluxe plan from $446 per year.

Outpatient care

The basic plan allows up to six video consultations. The deluxe plan at twice the amount, at 12 video consultations. This benefit is transferable to your friends and family members. You can do so via the UPGREAT mobile app.

Hospital and surgical benefits

Under the basic plan, you will obtain a daily hospital cash amount of 100 SGD. In addition to that, if warded in the ICU, you will receive another 100 SGD per day. While for the deluxe plan, both amounts are at 150 SGD respectively.

Personal accident benefits

For deaths and TPD due to an accident under the basic plan, you will get a lump sum payout of 100,000 SGD. As for the deluxe plan, you will secure 150,000 SGD instead. Both plans provide a payout of 10,000 SGD if the death is caused by COVID-19.

#3: SCENARIO

Great Eastern has done a great job with this infographic. Take a look at the scenario created to have a better idea of how the GREAT Comprehensive Care insurance works.

GREAT Comprehensive Care insurance

Image Credits: greateasternlife.com

Check out the FAQs here. If you have more questions, contact their customer service via 6248 2112. You may also email them at [email protected].

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Dash EasyEarn: The easiest way to save for a rainy day

We’re in the middle of a global pandemic, and with the economy swinging up and down, protecting and growing your money is a common concern. Some people may find it easier to save now that they’re home more often, but putting your paycheck in the bank isn’t making the most of your hard-earned savings, especially with banks reducing interest rates across the board.

In these uncertain times, it is definitely prudent to consider safe and flexible options to save smarter and grow your hard-earned savings. There are many financial tools available in the market that offer this, and you should choose one that gives you the best peace of mind, without compromising on your returns.

With that said, you might be excited to find out about the latest addition to the all-in-one mobile wallet Singtel Dash: Dash EasyEarn, a unique insurance savings plan underwritten by Etiqa Insurance, which will help you save better for a rainy day. This insurance savings plan offers an astounding 2% p.a. returns for your first year* with a minimum starting amount of S$2,000.

The best part? You can sign up directly through Dash on your mobile phone, with just a few clicks. Read on to find out more!

Enjoy attractive returns with capital guaranteed

Dash EasyEarn is capital guaranteed AND offers a very competitive 2% p.a. returns for your first year*, regardless of market movements. So if you’re risk-averse, especially in these uncertain times, you can rest assured that your savings will be safe – even if you have to withdraw it in times of need. Dash EasyEarn also has no lock-in requirements – which brings us to the next point on its flexibility.

NB: With effect from 25 September 2020, Dash EasyEarn will be revising its bonus rate to 0.3%, bringing the rate to 1.8%^ p.a. for the first policy year**.

Existing Dash EasyEarn users will continue to enjoy 2% p.a. (guaranteed 1.5% p.a. + 0.5% p.a. bonus) for the first year starting from their policy start date, including subsequent top-ups.

In addition, Etiqa Insurance will be extending an additional Financial Assistance Benefit for COVID-19 to all new and existing Dash EasyEarn policy holders. For more information on the benefits and other terms of this Financial Assistance Benefit, please visit https://www.tiq.com.sg/covid19/.

Ultimate flexibility with no lock-in period  

Image credits: Singtel Dash

Another great thing about this product is how flexible it is. After you’ve transferred your initial minimum premium of S$2,000, you can always make additional top-ups^ when you want, or withdraw what you need with no penalties.

There is no lock-in period, so if an emergency should arise, you’ll be able to access your funds immediately by withdrawing directly into your bank account or Dash wallet to tide you over.

^Maximum account value is S$20,000. Each top up must be a minimum of S$500. Minimum account value of S$2,000 must be maintained to be eligible for returns.

Open to everyone

Whether you’re a student, young professional or already savvy at saving, anyone can download Dash and sign up for Dash EasyEarn – all you need is S$2,000 to start growing your savings. As an insurance savings plan, Dash EasyEarn also comes with a layer of insurance coverage of up to 105% of account value in case of death.

Can’t wait to get started? Simply download the free Dash app today to sign up for Dash EasyEarn, and watch your savings grow.

It only takes 3 simple steps to start your savings journey with Dash EasyEarn.

  1. Sign up for Dash EasyEarn through the app
  2. Top up your Dash EasyEarn plan with your bank account
  3. Watch your savings grow!

Image credits: Singtel Dash

For more information, please visit www.dash.com.sg/easyearn.

Disclaimers

  • The information is meant purely for informational purposes and should not be relied upon as financial advice.
  • This policy is underwritten by Etiqa Insurance Pte. Ltd. (Company Reg. No. 201331905K). Protected up to specified limits by SDIC. As buying a life insurance policy is a long-term commitment, an early termination of the policy usually involves high costs and the surrender value, if any, that is payable to you may be zero or less than the total premiums paid. You should seek advice from a financial adviser before deciding to purchase the policy. If you choose not to seek advice, you should consider if the policy is suitable for you. This advertisement has not been reviewed by the Monetary Authority of Singapore. Information is accurate as at 29 June 2020.

  • *Effective for sign-ups up to 24 September 2020 (date inclusive): Guaranteed at 1.5% p.a. + 0.5% bonus for the first policy year.

  • **Effective for new sign ups from 25 September 2020: Guaranteed at 1.5% p.a. + 0.3% p.a. bonus for the first policy year, available on a first come, first served basis.

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Budget-Friendly Tips For Singaporean Teens

Saving money as a teenager is challenging, especially when your social media is constantly flooded with #OOTD posts. Online shopping is so tempting! Your peers may influence your spending habits too. It is important to note that while saving money is hard, it is not impossible!

WIDEN YOUR KNOWLEDGE

They say that knowledge is power. This age-old statement highlights the importance of handling your own money smartly to make less financial mistakes. Educate yourself by purchasing books on financial literacy, by taking free money courses online, or by asking your parents for advice.

Parents and guardians play an integral role in shaping their children’s financial behavior and attitude towards money. May teenagers rely on their parents to set the right example when it comes to spending. Of course, it is not always easy to navigate the tricky waters of personal finance at this time. Hence, parents must teach their kids about the value of money and notice their spending habits.

KNOW WHERE YOUR MONEY IS GOING

Know where your money is going by downloading a software that can help you note down every single expense. I used to use either Mint or Spendee. Both apps are free.

While you crave for independence, you seek for your parent’s help when you run out of cash. Another way to keep track of your expenses is to allow your parents to view your transactions online. You may discuss meaningful ways to use your extra cash upon sitting down with your parent. Some financial apps such as DBS PayLah! allows the parents to monitor the teen’s digital allowance. It is safer as auto-debit is disabled. Furthermore, teens 16 and under will have a limit of S$999 to reduce the risk of fraud or theft.

USE YOUR STUDENT PRIVILEGES

Your student ID is more than just a representation of a less flattering picture of yourself. It can also get you discounts and promotions from different retailers. For instance, POPULAR bookstore offers student cards to teens. This will enable you to have a subscription of about S$8 for a year and S$20 for 3 years. This membership card includes birthday privileges, complimentary magazines, exclusive invites to members-only events, member’s discount, and more.

Moneys inside a pig

(Image credit: Anders Steen Nilsen, via Flickr)

Getting all the discounts or maximizing your privileges as a student can make saving a whole lot easier. It ensures you can put more of what you make in a safe place until you need it.

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