Mark Paine Singapore
Mark Paine is the Managing Director of Meyado Private Wealth Management in Singapore.
Meyado holds a license as a Financial Advisor in Singapore and is regulated by the MAS.
Mark Paine holds a Financial Representative license and is authorised to advise under the remit of the Financial Advisors Act in Singapore.
For more information about Mark Paine or Meyado Private Wealth Management in Singapore, visit www.meyado.com.sg
Sunday, October 16, 2011
Wednesday, August 17, 2011
iPhone 5
With the imminent launch of Apple's iPhone 5 I'm wondering whether I ditch my iPhone 4 and keep pace with the market, or wait for the inevitable glitches to be ironed out before I make the leap.
As a user of Blackberry and iPhone I find both have positive qualities but neither achieves all I need them to do - plus I like to have a phone clients can reach me on and a separate one for the kids, wife and mates.
I'm also interested to see what Google will come up with now that it has the development potential with Motorola - how much would you like to visit their R&D lab?
I love technology, it just keeps getting better and better.
As a user of Blackberry and iPhone I find both have positive qualities but neither achieves all I need them to do - plus I like to have a phone clients can reach me on and a separate one for the kids, wife and mates.
I'm also interested to see what Google will come up with now that it has the development potential with Motorola - how much would you like to visit their R&D lab?
I love technology, it just keeps getting better and better.
Tuesday, July 19, 2011
Goodwood 360
Last night I attended the Rolls Royce event to launch the extended length Ghost. The additional 17 centimetres has been introduced to cater for the Chinese market, who prefer to ride in the back of their vehicles as opposed to European clients who prefer to drive.
What a fantastic event it was though, on show were the best of the best including one of the 100 anniversary cars, the electric Phantom and a beautiful drop head Phantom which sold (SGD1.9m)
Sadly I'm not in the market for one of the Goodwood produced models, but looking online I see that the predessor to the Phantom, the Seraph can be bought for under 30,000 pounds in the UK. That's a lot of car for the money. Probably a terrible investment though!
How about then a 1990 Silver Spirit for 10,000 pounds?
However it has to be said that they would not be a patch on the post 2003 cars made in Goodwood - the perfect blend of German engineering and British design, craftsmanship and individual design.
What a fantastic event it was though, on show were the best of the best including one of the 100 anniversary cars, the electric Phantom and a beautiful drop head Phantom which sold (SGD1.9m)
Sadly I'm not in the market for one of the Goodwood produced models, but looking online I see that the predessor to the Phantom, the Seraph can be bought for under 30,000 pounds in the UK. That's a lot of car for the money. Probably a terrible investment though!
How about then a 1990 Silver Spirit for 10,000 pounds?
However it has to be said that they would not be a patch on the post 2003 cars made in Goodwood - the perfect blend of German engineering and British design, craftsmanship and individual design.
Sunday, July 17, 2011
10k Training
Tuesday, July 12, 2011
Updated Meyado Website
We are pleased to confirm the launch of our client section of the Meyado Singapore website.
Clients can now log in and access a range of services including full online administration support, asset allocation recommendations and valuations of their investments. Additionally all member clients now have access to the exclusive Meyado investment platform giving cost effective and flexible access to thousands of funds and ETF's.
For more details visit http://www.meyado.com.sg/ and click on Straits Membership
Clients can now log in and access a range of services including full online administration support, asset allocation recommendations and valuations of their investments. Additionally all member clients now have access to the exclusive Meyado investment platform giving cost effective and flexible access to thousands of funds and ETF's.
For more details visit http://www.meyado.com.sg/ and click on Straits Membership
Singapore ranked 8th most expensive city for expats
LONDON - SINGAPORE has entered the top 10 list of Mercer's 2011 cost of living survey, moving up two spots to be ranked the 8th most expensive city for expatriates. Angola's capital, Luanda, has retained the unenviable title of the world's most expensive city for expatriates, narrowly edging out Tokyo, according to the survey published on Tuesday.
At the other end of the scale, the Mercer group's study named the Pakistani port Karachi as the least expensive city, with living around three times cheaper than in Luanda.
New entries in the top 10 list of the costliest cities in the world for expatriates are Singapore (8), up from 11, and Sao Paolo (10), which has jumped 11 places since the 2010 ranking.
The most expensive city in Asia is Tokyo (2), followed by Osaka (6). Singapore (8) has joined the list of the world's top 10 most expensive cities in the world due to the strengthening of the Singapore Dollar and the substantial increase in housing costs.
It is followed by Hong Kong (9) whose ranking dropped by one position due to the devaluation of the Hong Kong Dollar which is pegged to the US Dollar, even though there was considerable increase in housing costs.
During the past year, the US Dollar has devalued against most Asian currencies. In particular, the Singapore Dollar and Australian Dollar appreciated considerably, not only against the US Dollar, but against other currencies such as the Euro and British Pound. -- AFP
Background:
The Mercer cost of living survey covers 214 cities across five continents and measures the comparative cost of over 200 items in each location, including housing, transport, food, clothing, household goods and entertainment. It is the world's most comprehensive cost of living survey and is designed to help multinational companies and governments determine compensation allowances for their expatriate employees. New York is used as the base city and all cities are compared against New York. Currency movements are measured against the US dollar. The cost of housing - often the biggest expense for expatriates - plays an important part in determining where cities are ranked.
At the other end of the scale, the Mercer group's study named the Pakistani port Karachi as the least expensive city, with living around three times cheaper than in Luanda.
New entries in the top 10 list of the costliest cities in the world for expatriates are Singapore (8), up from 11, and Sao Paolo (10), which has jumped 11 places since the 2010 ranking.
The most expensive city in Asia is Tokyo (2), followed by Osaka (6). Singapore (8) has joined the list of the world's top 10 most expensive cities in the world due to the strengthening of the Singapore Dollar and the substantial increase in housing costs.
It is followed by Hong Kong (9) whose ranking dropped by one position due to the devaluation of the Hong Kong Dollar which is pegged to the US Dollar, even though there was considerable increase in housing costs.
During the past year, the US Dollar has devalued against most Asian currencies. In particular, the Singapore Dollar and Australian Dollar appreciated considerably, not only against the US Dollar, but against other currencies such as the Euro and British Pound. -- AFP
Background:
The Mercer cost of living survey covers 214 cities across five continents and measures the comparative cost of over 200 items in each location, including housing, transport, food, clothing, household goods and entertainment. It is the world's most comprehensive cost of living survey and is designed to help multinational companies and governments determine compensation allowances for their expatriate employees. New York is used as the base city and all cities are compared against New York. Currency movements are measured against the US dollar. The cost of housing - often the biggest expense for expatriates - plays an important part in determining where cities are ranked.
Sunday, June 5, 2011
Sunday, May 29, 2011
Coming up this month
June 2011
This month I will be speaking at the ETF conference at the Fullerton Hotel on June 7th about ETF's for High Net Worth individuals.
http://www.artofindexing.com/asia
This month I will be speaking at the ETF conference at the Fullerton Hotel on June 7th about ETF's for High Net Worth individuals.
http://www.artofindexing.com/asia
Tuesday, May 17, 2011
Sunday, May 15, 2011
Saw a strange thing this morning
Straight road, 9am Sunday morning, sunny day, car ends up in a ditch...
I hope no one was badly hurt.
Sunday, April 10, 2011
Monday, March 7, 2011
Shrove Tuesday / Pancake Day
From Wikipedia:
Pancake Day in English-speaking countries
In the United Kingdom and Ireland, Shrove Tuesday is more commonly known as Pancake Tuesday or Pancake Day.
In Canada, among Anglicans, Lutherans, some other Protestant denominations, including ethnic British communities, as well as Catholics, this day is also known as Pancake Tuesday, as it is customary to eat pancakes.
Pancakes are associated with the day preceding Lent because they were a way to use up rich foodstuffs such as eggs, milk, and sugar, before the fasting season of the 40 days of Lent. The liturgical fasting emphasized eating plainer food and refraining from food that would give pleasure: In many cultures, this means no meat, dairy, or eggs.
How many will you eat ?
Pancake Day in English-speaking countries
In the United Kingdom and Ireland, Shrove Tuesday is more commonly known as Pancake Tuesday or Pancake Day.
In Canada, among Anglicans, Lutherans, some other Protestant denominations, including ethnic British communities, as well as Catholics, this day is also known as Pancake Tuesday, as it is customary to eat pancakes.
Pancakes are associated with the day preceding Lent because they were a way to use up rich foodstuffs such as eggs, milk, and sugar, before the fasting season of the 40 days of Lent. The liturgical fasting emphasized eating plainer food and refraining from food that would give pleasure: In many cultures, this means no meat, dairy, or eggs.
How many will you eat ?
Sunday, February 20, 2011
Arsenal Leyton
As a long serving fan of Arsenal I was shouting for the Gunners on Sunday, but had a grudging respect for the Leyton team, and have to say they earned their place at the Emirates. Of course being British I love the underdog, even if my own teams victory is at stake, and how lovely it would have been to see United go down against Crawley.
Sadly the time difference in Singapore means that only the most ardent fans get to see the late UK games and Arsenal seem to always be the team with the latest kick off. A bit more consideration for your Asian following please.
Sadly the time difference in Singapore means that only the most ardent fans get to see the late UK games and Arsenal seem to always be the team with the latest kick off. A bit more consideration for your Asian following please.
Wednesday, February 16, 2011
Financial Training for 2011, little and often
If you have ever read the book 'Rich Dad, Poor Dad', you will appreciate the concept of every little helps when it comes to accumulating wealth. If you have not read the book it is a good read and worth the hour or so it takes to go through it.
The main principle of needing to accumulate wealth for a secure future later in life is lost on many expatriates. We live a life of freedom, freedom from over bearing taxes, and freedom from state intervention. This sadly though had a major downside, and that is lack of discipline.
Take Australia for example, high rates of tax, and as I experienced on our family Christmas there, an extreemly expensive place to live. However, the state imposes a compulsory pension contribution, or Super Annuation, which all earners subscribe to. Companies and the government help with contributions and the average Australian can be secure in the knowledge that there is a pot waiting for them on retirement. Of course it's not perfect and there are many flaws, but it's something that we in Singapore on Employment Passes don't have.
I have met clients who have been in Singapore for 15 years, generally aged between 45 and 55, with either minimal or zero wealth. As they have been non resident in their home country they have not paid any taxes, or national insurances and have thus not accumulated any pension benefit. The average 55 year old who would like to retire at 65 on $50,000 a year (which does not go far in Singapore by the way!) would need to put aside in the region of $6,000 a month to achieve the necessary pension fund, his 35 year old self would have needed to put away only $800 a month. It's an old story expounded by many a financial adviser, but with good reason.
But back to the topic on hand, what is the principle of accumulating wealth. Quite simply to create wealth is extreemly difficult. Putting aside 20% of your lifetime earnings gives the average person 6 years of their average salary - say around $1,000,000 for the average employee. Invest that money wisely and it could be worth 2 or 3 times that, but it still won't give you enough to open an account at a Private Bank.
Wealth is generally accumulated by large capital injections, the sale of a house, business, profit share payments as well as high risk, high return investments. Any of these could create liquidity problems as they are not short term, as bankers are now experiecing with bonus payments, or property owners in the UK with negative equity or a stagnant market understand.
This should not preclude however the principle of little and often. Saving dollars here and there does soon add up. Smokers who quit would now save over $4,000 a year if they quit their pack a day habit. Taking the bus and not the taxi in Singapore could save you over $7,000 a year. Over a working lifetime you accumulate over $300,000 on these two savings alone.
Of course I understand we can't live like hermits but one of the good things which has emerged out of the recession is a humbling of peoples spending habits, the excesses of 5 years ago seem to have slowed. Businesses cut their costs 3 years ago and are now reaping the rewards and declaring profits, the individual consumer was slower to react though and will only now perhaps begin to feel the effects of reducing spending and debts.
What can be done in Singapore then to accumulate wealth. Best advice is to have some discipline. My major gripe on the available accumulation plans in Singapore is that they are too flexible. It's also the feature clients demand the most. In my opinion this is completely wrong. There should be an incentive for individuals to save money into plans which don't allow redemptions and encashment, because plans will only work if you continue to invest into them (see my comments earlier regards the 55 and 35 year old savings amounts). A plan is of no use what so ever if you stop paying in and take the money out.
Whatever happens, whether it goes under the mattress or into a structured plan, it's vital that expatriates wake up to the reality that if they don't look after themselves, nobody else is going to do it for them.
The main principle of needing to accumulate wealth for a secure future later in life is lost on many expatriates. We live a life of freedom, freedom from over bearing taxes, and freedom from state intervention. This sadly though had a major downside, and that is lack of discipline.
Take Australia for example, high rates of tax, and as I experienced on our family Christmas there, an extreemly expensive place to live. However, the state imposes a compulsory pension contribution, or Super Annuation, which all earners subscribe to. Companies and the government help with contributions and the average Australian can be secure in the knowledge that there is a pot waiting for them on retirement. Of course it's not perfect and there are many flaws, but it's something that we in Singapore on Employment Passes don't have.
I have met clients who have been in Singapore for 15 years, generally aged between 45 and 55, with either minimal or zero wealth. As they have been non resident in their home country they have not paid any taxes, or national insurances and have thus not accumulated any pension benefit. The average 55 year old who would like to retire at 65 on $50,000 a year (which does not go far in Singapore by the way!) would need to put aside in the region of $6,000 a month to achieve the necessary pension fund, his 35 year old self would have needed to put away only $800 a month. It's an old story expounded by many a financial adviser, but with good reason.
But back to the topic on hand, what is the principle of accumulating wealth. Quite simply to create wealth is extreemly difficult. Putting aside 20% of your lifetime earnings gives the average person 6 years of their average salary - say around $1,000,000 for the average employee. Invest that money wisely and it could be worth 2 or 3 times that, but it still won't give you enough to open an account at a Private Bank.
Wealth is generally accumulated by large capital injections, the sale of a house, business, profit share payments as well as high risk, high return investments. Any of these could create liquidity problems as they are not short term, as bankers are now experiecing with bonus payments, or property owners in the UK with negative equity or a stagnant market understand.
This should not preclude however the principle of little and often. Saving dollars here and there does soon add up. Smokers who quit would now save over $4,000 a year if they quit their pack a day habit. Taking the bus and not the taxi in Singapore could save you over $7,000 a year. Over a working lifetime you accumulate over $300,000 on these two savings alone.
Of course I understand we can't live like hermits but one of the good things which has emerged out of the recession is a humbling of peoples spending habits, the excesses of 5 years ago seem to have slowed. Businesses cut their costs 3 years ago and are now reaping the rewards and declaring profits, the individual consumer was slower to react though and will only now perhaps begin to feel the effects of reducing spending and debts.
What can be done in Singapore then to accumulate wealth. Best advice is to have some discipline. My major gripe on the available accumulation plans in Singapore is that they are too flexible. It's also the feature clients demand the most. In my opinion this is completely wrong. There should be an incentive for individuals to save money into plans which don't allow redemptions and encashment, because plans will only work if you continue to invest into them (see my comments earlier regards the 55 and 35 year old savings amounts). A plan is of no use what so ever if you stop paying in and take the money out.
Whatever happens, whether it goes under the mattress or into a structured plan, it's vital that expatriates wake up to the reality that if they don't look after themselves, nobody else is going to do it for them.
Tuesday, February 8, 2011
Sunday, January 9, 2011
Private Banking Asia 2011
I have kindly been invited to speak at the forthcoming Private Banking Asia convention on 14th March 2011 in Singapore.
Details on the event can be found here
Mark Paine
Meyado
Singapore
Details on the event can be found here
Mark Paine
Meyado
Singapore
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