Thanks PNGMK for your 2 cents and JR8 for taking the time to write down such a post!
Anyway, I don't have anything much to bring over. Maybe a few of my favorite books, my desktop PC and clothes that are proper for the summer and for the winter (that I already have) anyway, I won't miss Asian food so much, so no problem with that. I've been longing to get away from all these carbs anyway
I will search around for that thread of yours when I can.
I will be located in Mannheim, Baden-Württemberg area. If that helps.
1.) About the Bank Account
I can’t think of any other reason to keep a SGn a/c. Though if you intend to return there within say 3.../?yrs then it might be worth it for simplicity's sake. Note: It is increasingly hard to open bank accounts x-border. Once you’re in Germany, if you found you had a real need for a SGn account after closing your UOB one, it’s entirely possible [likely IMO] that if you approached UOB they’d decline you, since you’re no longer resident in SG.
Well, I've discussed the bond and also my big boss's (who's German) advice on working there. The soonest I can so called "get out of the country" is roughly 3.5 years from when I arrive. At the very least, in those 3.5 years he won't be getting HR to bug me by saying, "Akimbo, you are ordered to go back to the Singapore HQ. Remember, we're the one that sponsored you while you're studying there"
I guess I probably keep it open then. Just keep the minimum or so.
2.) About the Credit Card and the Debit Card renewal
a) I’d get a credit card from UOB before you leave, for ‘In case of emergency’.Also note it’s not unusual for some hotels and airlines to need a booking via a credit card, less than previously, but you don’t want to face that and be stuck.
Re: your debit card. I’d tell them you’re going to study abroad, wish to maintain your account, and intend to return to SG – and request early card renewal. That is what my wife and I did with POSB.
I'll take your advice on the debit card renewal, thanks.
Can you also help me on how to adult on this? It's embarrassing
, but I think I have some wrong comprehension here on the VISA...maybe it's because...most of my hotel/hostel bookings, plane tickets, paying my Kickstarter pledge, restaurants while I was abroad, e.g. in Aussie, I had used the Debit Card with the VISA, so I thought it "kinda" work as my "credit" card...
So let's say I don't get the credit card from UOB, and just go abroad with my renewed Debit card. Would that still work?
What I didn't say above, is that, I actually do have credit cards, but they're supplements which is tied to my mom's name. I don't really wanna bother my parents about such stuff. It's my decisions, my money, you know?
3.) About the investments
You might want to skim this topic, where DIY investment has been and is discussed. viewtopic.php?f=83&t=104223&p=735078#p735078 The risk you should be willing to accept correlates with your aims and age; so it’s initially a little complex to figure out. But if and when you do it can set you on a clear investment path for years ahead.
Ermm...you just linked me to your latest post on that thread, and I don't see anything on the DIY investing on that particular post. Or are you saying I should skim the 34 pages of that thread? Hmm, it's gonna take awhile to do that. I'll do it this weekend.
Walton Int – Canadian real-estate investment. No slur on your friend intended, but is he qualified to advise you outside of his own field? If he even suggests you buy his own products I’d run a mile...
Hahaha, yeah well, he's not a native of the area, if that's what you're saying...after I heard his pitch the other day, I'm about half-convinced that everything is pretty sound, but then I start googling and seeing a few articles, and read discussion in forums, which doesn't make it sound good for Land banking schemes.
If saving for the long-term it can pay to invest in a market you understand well. If saving for a future pension it can make sense to build that pension where you expect to retire, esp if it’s a place you know well [‘back home’?].
I'll put that in my mind. I actually have no idea where to retire yet, really...but I do have some money planted back home in Indonesia. Though as of today, it's not enough to retire.
...which suggests to me they’re not qualified to give advice. Again, no slur intended; I’d worked in a US MNC bank for 10 years and was still making uninformed ‘random/un-wise’ personal investments, since I’d only worked on the institutional/trading side of things. It’s only really when I trfd to the Private Client divn that I learned about profiling clients' means and lifetime goals etc. – quite an epiphany
Anyway, more re: that in the above-linked topic.
They're not professional financial advisors, but at least I learn something like "Before you wanna invest, you MUST know what you wanna do with the money, ergo your life-time goal. Grow it, use it for retirement, guarding against inflation" I never thought of it like that before (That's where the how to adult comes in)
My close friends pretty much come from all sorts of different backgrounds, not from a single nationality. And when they're talking about stocks, it sounded to me that they know what they're talking about.
One guy says he's investing for retirement (can't remember which country he's investing it in, but he's from the Philipines) and yet he and his long-term girlfriend plans to go to Ireland after finishing up in Singapore in the next 2 years or so.
One guy has property
back home in Canada, some stock and commodities, but I'm not sure how he handles it, but he's sure as hell don't wanna go back to Canada, but rather stay in Singapore.
One Malaysian guy (whom i can imagine as being on the same level financially as me) has started going for ETF since last year on STIndex through POSB.
I'm still pretty level-headed about these things, so not gonna decide soon, but I just feel like I had to decide before I leave. At the very least, I have to guard my money against inflation. Or like what PNGMK said, just bring em over to Germany. Haha.