thanks Chris for this simple explanation and option. agreed with you on the cost structure with Endowsus is going to be astronomical especially so if we are considering a long term investment. Take for e.g a 30yo contributing to max SRS for 30 years. 1. Each year there is a 0.35% from endowus basically the platform fee will be increasing in nominal terms as the contribution increases 2. Even if you didnt contribute for the year you are still charged the platform fee 0.35% on your entire AUM vs no charges via POEMS. 3. Not to mention, POEMS is fix transaction fee which is applied to the contribution amount max of $15,300 however endowus charges based on AUM which would naturally be a bigger sum
Chris, pls do a video on the new CPF changes "The Enhanced Retirement Sum (ERS) will also be increased from three times the Basic Retirement Sum, to four times. "This means that the ERS next year will be S$426,000 and this will allow more members aged 55 and above to fully commit their accumulated CPF savings to receive higher payouts, should they wish to do so," Wong said. The CPF system will also be rationalised. From 2025, the CPF Special Account (SA) will be closed for those aged 55 and above. Currently, CPF members aged 55 and above have an SA and a retirement account (RA). The SA savings will be transferred to the RA up to the full Full Retirement Sum, and the remaining savings will be transferred to the Ordinary Account (OA)."
@@HoneyMoneySG Thx Chris, looks like no use trying to hit ERS already since it is a constantly moving, unachievable target & not hardcoded by cohort turning 55 in that specific year "As the ERS is increased every January, you can continue to make further top-ups to your RA every subsequent year."
Can you please highlight the effect of dividend withholding tax and estate tax basically becasue Amundi is non US domiciled and S27 is US domiciled. Wont it have a negative impact on your returns? Shouldnt we consider the effect on returns also instead of just the platform fees and charges?
Hi Chris, great video and simple to understand. Just would like to check if u know whether expense ratio of ETFs bought under POEMS are already sorted out? Or it is still strictly transactional cost only. Endowus though as u mentioned is factoring a cost per annum based on AUM, but iirc the underlying ETFs expense ratio is also factored into the platform cost or are they separately charged?
For purchase of S27 ETF, think you failed to account for the FX conversion (commissions, bid-ask spread), which is very punitive for small recurring transactions like these
Any idea how is the FX conversion for POEMS? Essentially I need to weigh against DBS Vickers' much higher brokerage cost and I suppose there will also be FX conversion costs/charges even with DBS Vickers
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thanks Chris for this simple explanation and option.
agreed with you on the cost structure with Endowsus is going to be astronomical especially so if we are considering a long term investment.
Take for e.g a 30yo contributing to max SRS for 30 years.
1. Each year there is a 0.35% from endowus basically the platform fee will be increasing in nominal terms as the contribution increases
2. Even if you didnt contribute for the year you are still charged the platform fee 0.35% on your entire AUM vs no charges via POEMS.
3. Not to mention, POEMS is fix transaction fee which is applied to the contribution amount max of $15,300 however endowus charges based on AUM which would naturally be a bigger sum
Chris, pls do a video on the new CPF changes
"The Enhanced Retirement Sum (ERS) will also be increased from three times the Basic Retirement Sum, to four times. "This means that the ERS next year will be S$426,000 and this will allow more members aged 55 and above to fully commit their accumulated CPF savings to receive higher payouts, should they wish to do so," Wong said.
The CPF system will also be rationalised.
From 2025, the CPF Special Account (SA) will be closed for those aged 55 and above. Currently, CPF members aged 55 and above have an SA and a retirement account (RA).
The SA savings will be transferred to the RA up to the full Full Retirement Sum, and the remaining savings will be transferred to the Ordinary Account (OA)."
Yes, I am planning one
@@HoneyMoneySG Thx Chris, looks like no use trying to hit ERS already since it is a constantly moving, unachievable target & not hardcoded by cohort turning 55 in that specific year
"As the ERS is increased every January, you can continue to make further top-ups to your RA every subsequent year."
Can you please highlight the effect of dividend withholding tax and estate tax basically becasue Amundi is non US domiciled and S27 is US domiciled. Wont it have a negative impact on your returns? Shouldnt we consider the effect on returns also instead of just the platform fees and charges?
Tks gd video.
Both products subject to US Estate tax ? 0:07
Hi Chris, great video and simple to understand. Just would like to check if u know whether expense ratio of ETFs bought under POEMS are already sorted out? Or it is still strictly transactional cost only. Endowus though as u mentioned is factoring a cost per annum based on AUM, but iirc the underlying ETFs expense ratio is also factored into the platform cost or are they separately charged?
All factored within the ETF/Unit trust price
@@HoneyMoneySG POEMS one-time fee also includes the ETF expense ratio?
No, that's commission. Expense ratio is charged on fund level
For purchase of S27 ETF, think you failed to account for the FX conversion (commissions, bid-ask spread), which is very punitive for small recurring transactions like these
Any idea how is the FX conversion for POEMS? Essentially I need to weigh against DBS Vickers' much higher brokerage cost and I suppose there will also be FX conversion costs/charges even with DBS Vickers
If I open the poem cash plus account and fund 10k, for the 5 trade I use my srs to buy s27 can? Or must use cash to buy?
Besides using Poems to buy S27 with SRS, can we just use any bank brokers to buy e.g. IOCBC also one time cost
Check out the minimum commission
No more CPF shielding! 😮💨
If it is custodized by the bank . Wouldn't you also incur annual custody fees imposed by the bank?
Nope, from my experience in DBS SRS.
is there anymore rewards for poems?
Yes, can refer to: facebook.com/photo/?fbid=722956160006425