Personal Finance
5 common ways Singaporeans derail their retirement plan
By The Fifth Person  •  September 20, 2016

Considering Singapore is a financial hub, we’re pretty dismal with regard to financial literacy. Singaporeans who meddle with the CPF Investment Scheme (CPFIS) somehow manage to lose money, the braver ones get burned by gold traders, and a small bunch are still hiding money in Milo tins. It’s time to address how we mess up our retirement.

1. Overreaction to bad news

Singaporeans tend to have an “episodic” view of finance. Don’t believe us? Check out the reaction in comments boxes, whenever news breaks that GIC or Temasek Holdings has underperformed.

Even if the loss is for one-quarter, all perspective flies out the window. There are accusations of incompetence everywhere. A reasonable approach would be to look at 10 or 20-year performance – no fund wins all the time, and what matters most are the annualised returns in the long term. But it’s easy to forget that when a dramatic ...

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By The Fifth Person
The Fifth Person believes in spreading a message that financial literacy and sound investment knowledge can help people around the world achieve financial independence and lead better lives for themselves and their loved ones.
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