Now is the best time to save more and pay less tax. The Supplementary Retirement Scheme (SRS) was started in 2001 and the scheme has been getting popular. When you contribute to your SRS account, you enjoy the same dollar amount which you have contributed in tax relief for your following year’s income tax assessment. Thus, the […]
As the festive season of Chinese New Year approaches, and your children’s excitement escalates, it is an opportune time for you to help your child cultivate a healthy relationship with money. With a significant sum stuffed in red packets each year, opening a savings account for the child is an effective way to start your […]
The transition into parenthood is a time that provides parents with immense joy. It is also the start of a long journey that demands great sacrifice. As a quote goes, “Until you become a parent, you can’t begin to discover your capacity for strength, love and fatigue.” Of the many heavy responsibilities that come with […]
There was a recent article that discussed when it was suitable to Buy Term and Invest the Rest (BTIR) and when to use Whole Life Insurance. Contrary to what many think, the purpose of buying term insurance is not so that one can invest the difference from the amount saved by buying a term instead of a whole […]
The journey to begin to invest is a difficult path on its own. Most people are attracted by the high returns that investments could potentially provide but fail to understand the risks of investing. Many investors jump into the sea of investments and end up drowning. Fear strikes me when my peers get overly excited […]
Congratulations on your graduation! You have completed almost 2 decades of formal schooling. I savoured the time when I graduated, I was on my own to forge my path ahead. Receiving my first full-time pay was exciting but the excitement faded as quickly as it came. Financial responsibilities of planning for my wedding, a home […]
Under the Financial Advisory Industry Review (FAIR) by the Monetary Authority of Singapore (MAS), the MAS has launched initiatives to create a more competitive market for insurance products and empower consumers to make informed decisions through better access to information. The launch of web aggregators allows consumers to compare the premiums and features of life […]
I feel a large sense of injustice when I hear my peers paying large sums of money for their insurance plans and yet, they do not have the essential insurance coverage they need. It could be disastrous for them if they meet a crisis. Have you been introduced to insurance by a family member, a […]
Retirees need a reliable stream of income to fund their living expenses. This income stream can come from several sources such as CPF LIFE, annuities, rental income and dividends. They could also fund their retirement lifestyle by drawing down from bank deposits and investments. In recent years, insurance companies have been rolling out many types of […]
