You may have seen this phrase: “protected up to specified limits by SDIC” in product brochures and advertisements by financial institutions.
What exactly are you insured for and how much is the limit?
In this article, we cover all that and took a deeper look into SDIC in Singapore and the schemes it administers.
So, read on!
Benjamin Franklin once said, “Investment in knowledge pays the best interest.” Although Benjamin Franklin lived in the 18th century, his words are still relevant today.
However, the total cost of investing in knowledge would look quite different in the 21st century.
Saving for education is crucial, and leveraging different platforms can help ensure that financial barriers do not hinder your child’s learning journey.
How much should a parent expect to pay for one child’s education journey from preschool to university?
We take a closer look at the average total cost of education in Singapore, for both public (government schools, unless otherwise stated) and private schools (including international schools).
(All figures are quoted in Singapore dollars.)
More people are seeing the wisdom of investing early to grow their wealth.
As one of the more common types of financial instruments in the market, bonds are something that everyone should definitely seek to understand before deciding which tool to invest in.
In this article, you’ll get to understand how bonds work and what are the different types of bonds out there in the market.
So, read on!
Investing your hard-earned savings wisely helps you combat inflation and gain higher returns.
Maximising returns is desirable as it can help you to achieve your financial goals more quickly.
According to statistics, over half of all Singaporeans are aware of this and have investments in stock or equities. However, stock and equities are not the only way to store your wealth.
Among the variety of options available, fixed deposits in Singapore are one of the safest and easiest long-term investment instruments to understand.
If you are simply looking for a simple, passive instrument to store rather than grow your wealth, fixed deposits may be of interest to you.
Do you fall within the majority of Singaporeans who are invested? Which instruments have you chosen to invest in?
Bonds are one of the most popular forms of investments in Singapore. This is because they generally pose lower risk than stocks and equities.
Even within this category, there are many different types of bonds, with Singapore Government Securities (SGS) being possibly the most secure.
In this article, we’ll cover the different types of SGS and more.
So, read on!
When the first Singapore Savings Bonds (SSBs) were introduced, the demand was high as there were very few safe investment options which provide high potential returns.
Over time, the returns of SSBs have gone down. Is it still a viable option now?
In this article, we’ll take a deeper look at what the SSB is all about, the current and historical interest rates, and the pros and cons.
So, read on!
How much does tuition really add up to by the time your child finishes school?
Private tuition has become a near-standard part of growing up in Singapore, and the bill is bigger than most parents realise when they sign up for that first weekly session.
This guide sets out what tuition costs today, from the hourly rate of a single tutor to what the average household actually spends, and works out the lifetime cost of keeping a child in weekly tuition.
Whether it is your first time, tenth time, or twentieth time filing your personal income tax, the process can be fairly frustrating, confusing, and cumbersome.
Here is your quick and essential guide to filing personal income tax in Singapore, where we have collated all the important information, links to different sections on taxation, and guides on filing, so that you don’t have to crack your head over this when March comes.
So, read on!
(Click here if you want to know more about corporate income tax in Singapore.)
While most Singaporeans know the exact percentage they pay for the Goods and Services Tax (GST), many can’t recall the personal income tax rate offhand.
Singapore’s GST is currently pegged at 7% and set to increase in the coming years, but what about the personal income tax rate?
If you are a tax resident in Singapore, you can heave a huge sigh of relief – while Singaporeans don’t rank first in terms of lowest income tax rate, they can also be thankful that they are not tax residents of Sweden. The highest income earners in Sweden can be taxed as much as 57.1%.
So where does Singapore rank in terms of income tax, and how much tax can you expect to pay throughout your lifetime in Singapore?
Saving for the future can be difficult when we’re left on our own to do it.
Fortunately, there are several national schemes in Singapore that help individuals build their retirement nest eggs.
One such scheme is the Supplementary Retirement Scheme (SRS), which is open to both Singaporeans (citizens and permanent residents) and foreigners.
Although the scheme is mostly similar for both groups, there are important differences to take note of.
(This article is meant for foreigners, so if you’re a Singaporean [citizen or PR], do check out this page instead.)
Read on to find out more!