Your Money or Your Life – Panzer’s Book Review

By: PanzerGrenadier Transforming Your Relationship with Money and Achieving Personal Independence I had heard of this book many times through surfing the net for personal finance websites and blogs and finally decided to order this instead of borrowing it from the public library on a whim. What a decision it was… Unlike most personal finance books that provide tactical ways for you to be … [Read more...]

Insurers’ Participating Fund Returns

By: Adrian Khiat I had just completed my compilation on the historical performance of the Life Participating Fund of our local Insurers. I had also complied the approximate weightings of their investment allocations. From my observation, asset allocation should be the main reason why the returns are so different. * AsiaLife is the most consistent performer followed by Prudential and NTUC … [Read more...]

Excuse me, are you an IFA? – Part 4

Well, this is the final part of expounding on my role and standing as an IFA and it is with humility that I am still in the business because chiefly of God's grace and what I believe to be my clientele's trust in me in looking after their interests and financial well being. Yesterday, I like to believe I not only talk the walk but walk the talk as an IFA in going the extra mile to serve my … [Read more...]

Excuse me, are you an IFA? – Part 3

By: Patrick Lim Well, as promised, for today, I shall attempt to address the widely held beliefs that an IFA may not offer unbiased advice and also bypass products not found in the IFA's stable. First and foremost, please allow me to digress by going into a little bit of history with regard to my earlier years with Promiseland Independent Pte Ltd. Throughout Promiseland Independent's … [Read more...]

Excuse me, are you an IFA? – Part 2

By: Patrick Lim At one glance, the above table aptly summarises the differences between all practicing financial advisers under the ambit of the FAA passed in Cctober 2002 and credit (for the above table) goes to Mr David Choo, Managing Director and founder of Promiseland Independent Pte Ltd which also appeared in the original article published in the March 2003 edition of the SmartInvestor … [Read more...]

4 months to settle a claim

Someone wrote in Tan Kin Lian's blog on his claim experience. Pretty interesting and be sure to read about the comments from other readers. Dear Income I am delighted to receive the claims discharge voucher and cheque. I am extremely thankful for my resolved dispute, but, regrettedly my problem was only solved after I see the MP and approached Mr Tan Kin Lian. Why can't X solve my problem 4 … [Read more...]

What is a Life Participating Fund?

By: Adrian Khiat I received a letter from one of the big insurance company, which I have a Life policy, with regards to their 2008 bonus declaration. I am disappointed to see that bonuses had not increase despite the equities bull run since 2004. I am not too optimistic in the next few years if the global economy do not do perform and when the effect of the industry-wide recent change in tax … [Read more...]

5 Ways to Spend Less and Live More

By: PanzerGrenadier The more I read personal finance blogs, the more I realise the secret towards financial freedom is within our grasp. It is something that all of us have known in our lives but were too set in our ways to realise it. We caught sight of it in some of our parents’ lives, some of our grandparents and those people who choose not to live like everyone else. What is this secret … [Read more...]

Excuse me, are you an IFA?

By: Patrick Lim Hi, all, Firstly, please allow me to tender my most abject apologies to all of my regular readers of my blog for not posting even a single entry after the last one in march 2008. You see, since my MIA some months ago, I continued to receive many queries from both consumers and forumers from sgfunds but what really prompted me to return to blogging is that in this month alone … [Read more...]

What is the most influential book in personal finance?

One of my fellow authors posted a contest on the most influential book you have read on personal finance. The $10 voucher may not seem a lot but still a added incentive to encourage feedback from the readers. What is the most influential book in personal finance? By: PanzerGrenadier How do you get new ideas about personal finance in your life? Is it through speaking with friends, … [Read more...]

Protecting your income against Disability

By: Adrian Khiat What is a Disability Income Insurance Plan? * A disability Income insurance plan is meant to cover loss of income in the event of any illness or accident when the insured is unable to perform his/her material duties for a continuous period defined by the insurer.(Generally 60, 90 or 180 days) * The insured will receive a monthly payout if he/she becomes totally disabled … [Read more...]

Tan Kin Lian VS NTUC Round 2?

Complaint to the regulator By: Tan Kin Lian A friend asked me for the reason why I decided to set aside the Collective Protest. He said that there was a rumour that I was threatened by Mr. Lim Boon Heng and Mr. Matthias Yao. I replied that the main reason for my action was the assurance that I have received from Mr. Lim and Mr. Yao on fair treatment of policyholders. This was subsequently … [Read more...]

The 4 Insurance Schemes using your CPF monies

By: Adrian Khiat CPF is a very good scheme for Singaporeans towards savings for their retirement. Some monitor their CPF monies actively, some don't. Some don't even know what are the accounts in their CPF. Today, I just like to highlight the insurance schemes that are embedded in our personal CPF account. a) Medishield / Private Medical Insurance Scheme b) Dependent Protection … [Read more...]

Dissecting Dave Ramsey’s “Total Money Makeover” – Start the Debt Snowball [Part 2 of 7]

By: PanzerGrenadier Step 1 of the 7 Baby Steps in “Total Money Makeover” by Dave Ramsey talks about starting an emergency fund of $1,000. Today, we discuss Step 2 which is to start the debt snowball. Debt is a good servant but dangerous master Debt is one of the most damaging thing you can take on if you are not careful. Unsecured debt in the form of credit cards, car loans etc. … [Read more...]

Dissecting Dave Ramsey’s “Total Money Makeover” – Start Your Emergency Fund [Part 1 of 7]

By: PanzerGrenadier Panzer’s penchant for performing book reviews surfaces again as I embark on my next series reviewing Dave Ramsey’s “Total Money Makeover” that took me a weekend to read but many more sessions to digest each of his 7 Baby Steps. This 7 parter will be less intense that the previous “Are You Ready for Retirement” series as Dave’s 7 steps are more intuitive and require lesser … [Read more...]

FAQ: Traded Endowment Policies

By: Tan Kin Lian 1. What is a traded endowment policy? A traded endowment policy is a policy that is sold by the policyholder to an investor. The investor pays a sum that is higher than the surrender value offered by the insurance company. The investor will continue to pay the premium under the policy and will collect the death or maturity benefit on the policy. The investor expects to … [Read more...]

Benefit illustration for an Investment Linked Policy

By: Tan Kin Lian A few months ago, a university student showed me a benefit illustration for an investment linked policy that was being proposed to him. He was still studying and had no source of income. His mother wanted to buy the policy for him. He asked my advice. The benefit illustration contained 24 pages of details. It is incomprehensible to most people, unless it is "explained" by … [Read more...]

Are You Ready for Retirement? [Part 3 of 3]

By: PanzerGrenadier Welcome to Part 3 –the final part of the three-part series “Are You Ready for Retirement?”. If this is your first time reading this series, you may wish to read Part 1 and Part 2 first. Part 2 “Funding your Retirement” explored the CPF funding model as well as the personal funding model. The CPF model is the primary vehicle driving our retirement funding but it is a … [Read more...]

Personal finance

By: La Papillion On the advise of HH, I had started on this detailed tracking of my expenses and cash inflow at the start of this year. At first, the process seems very 'xiong', because everytime I spent a cent (including buying drinks/food and snacks), I'll record it on my handphone. Towards the end of the day, I'll record it on my excel spreadsheet. The spreadsheet have all the details broken … [Read more...]

3 CPF Changes wef 1st July 08

By: Adrian Khiat Just to summarise what are the CPF changes wef 1st July 2008. 1. Min. Sum has increased from $99,600 to $106,000 * Members who set aside the $106,000 cash savings in their Retirement Account will receive a monthly payout of $910 from age 64 for about 20 years. * The current MS, which applies to members who turn 55 from 1 July 07 to 30 June 08, is $99,600. The corresponding … [Read more...]