Tan Kin LianThis is an interview with Mr Tan Kin Lian on personal financial planning.

Mr Tan Kin Lian joined NTUC Income in 1977 as the general manager (later re-designated as chief executive officer). During a period of 30 years, he built up the business and grew the assets 600 times to reach $1.7 billion at the time of his retirement. He has written several books and is now the President of the Financial Services Consumer Association (FISCA).

What are the common money problems faced by Singaporeans?

Some of the common money problems are:

  1. Getting into debt. They do not have adequate savings and when there is an unexpected demand for money, e.g. to pay medical bills, to buy an expensive jewellery or vacation, going out for an expensive dinner, or losing money on a bet, they borrow on their credit card and incur a large interest burden. This can go …