In a recent study conducted by Nielsen, it was reported that nearly two-thirds of Singaporeans share the optimistic belief of achieving their financial goals in the future. However, we all know life would be a whole lot simpler if survey optimism was an indicator of our financial destiny. The financial expectations and needs of Singaporeans at each stage of their life are variable, and a pro-active approach to managing these goals via a healthy savings and investment portfolio is the singular key to financial survival. We have to remember the fact that one-third of Singaporean respondents still felt that their financial boats are going to hit turbulent waters in the future.

There is no foolproof master plan for financial security that applies to every consumer; however, there are certain milestones that act as common stepping stones to financial empowerment for us all. Before we dig deeper into identifying some of ...