Financial Steps Upon Death Of Spouse

Death-of-Spouse-Harvard-Health-Publication.jpg

A few months before their marriage, Heartland Girl had this question for Heartland Boy, “Dear, you must tell me what financial steps to take if you pass away.” That question caught Heartland Boy by surprise and he had no answers then. However, he realized that death of partner is not something frivolous that can be dismissed easily. (Just for clarification, Heartland Girl never says anything … [Read more...]

How to Choose An Insurance Agent

insurance.jpg

Most people do not actively seek out to choose an insurance agent. In fact, it is often true that they stumbled upon their insurance agents by chance. Either these insurance agents have made cold calls, knocked on their doors, stopped them at roadshows, or were simply friends just starting out in the insurance industry. For Heartland Boy, it is a nice gesture to support your friends but it can … [Read more...]

Pathways to Investment Options or How to Get Rich Without Being Scammed

20160326_121337.jpg

Giraffe has done an awesome job collating the various investment means available in Singapore, and has even provided some step-by-step guides on how to get going for each of them. This is really awesome. Have a read: 17 Investment Options (by GiraffeValue) I think it's a most useful source of reference to help somebody embarking on the "doing" part. The closest I ever got round to was this … [Read more...]

The Gahmen is Always Wrong?

Once in a while the Gahmen pushes out a post on retirement planning and some basic guidelines, to encourage citizens to work out a viable financial future. Unfortunately, once posted on Facebook, all they're going to get is a lot of brickbats. Lots of random eggs go flying. The comments kind of irritates me quite a bit. "Give me back my CPF and I would be fine" How? Because the individual … [Read more...]

That Dream We All Have

141212174347-what-was-your-childhood-dream-job-exlarge-169.jpg

I had a dream. When I was a child, because of my family poverty, I would always imagine myself being a businessman earning tons of money. As you know about me (here), you know that I was extremely adventurous (actually was playful, just a nicer word to use) and I don't really believed in education. I moderated my dream of being a successful businessman (I did tried a few small businesses) to … [Read more...]

How to Protect Your Rights When Buying Insurance

Top-Image-How-to-Protect-Your-Rights-When-Buying-Insurance.jpg

One of the most common grievances about the insurance industry is that it can be a nightmare trying to get your insurer to pay up. Now, what should you do if you ever find yourself in such an unfortunate situation? Words by Seng Bingyang — Recently, a blog post on insurance claims appeared on my Facebook newsfeed that I noticed was shared by quite a number of people. In a nutshell, this is … [Read more...]

What is the inflation rate for Singapore?

I was doing some analysis of my investment portfolio to assess how close I was to being financially independent, and started doing some "what-if" of the various planning parameters assumed. One of the important factor was the future "inflation rate". I've always worked under the impression that 3% was a reasonable number to use, and I wondered how realistic that was? Tweaking the figures … [Read more...]

Men versus Women: Who’s Better with Money?

DrWealth - Top-Image-Men-versus-Women-Who’s-Better-with-Money

As the clichéd saying goes: men are from Mars, women are from Venus. We take a closer look at the gender gap and explore whether there are any differences in the way men and women think about money. Words by Lum Yin Peng We often hear of gender-based stereotypes like “Women are just bad drivers” and “Men are the risk-takers”. But are there any differences between men and women when it … [Read more...]

STI ETF

bull-vs-bear1.jpg

Straits Times Index is a capitalisation-weighted stock market index. This index is used as a benchmark by many to have a quick understanding of how Singapore market is performing. It started from year 1966. It has 30 stocks components and it supposed to track the best 30 companies listed in Singapore stock exchange. The selections are based on their market capitalisations. Let us take a look at … [Read more...]

Fun Exercise: What If Frugal Daddy Work Till 65 Years Old As Per Retirement Age?

early-retirement.jpg

This is a fun exercise. What if I continue to work till 65 years old and remain financially efficient? How am I going to spend so much excessive money, which doesn't value-add to my philosophy? Assuming I don't like debt and only buy luxury items when I can fully pay off. This is how my major financial milestone will look like: As you can see, I have no idea how to spend on luxury items. … [Read more...]

Not Knowing Personal Finance Is A Blessing? – Part 2

knowing-yourself-is-the-beginning-of-all-wisdom.jpg

A friend of mine was saying I should have part 2 of this topic. It is good to have closure when possible. As we know earlier in part 1, this colleague of mine is a "happy-go-lucky" person. I actually quite like her light-heartedness in dealing with personal finance. Maybe it is because we tend to be attracted by "new" perspective. Having said that, I personally felt she don't really enjoy … [Read more...]

Stock Analysis : Keppel Corporation

quorum-clipart-analysis-clipart-business-clip-art-2.120114505_std.jpg

Keppel Corporation is an Industrial Conglomerates dealing with Marine, Property, Infrastructure, and Investment. In FY2014, the Offshore & Marine Division was the largest contributor to Group net profit with a 55% share followed by the Property Division at 26%, the Infrastructure Division at 17% and the Investments Division at 2%. You can read their FY2014 annual report here. Their top 5 … [Read more...]

Not Knowing Personal Finance Is A Blessing? – Part 1

keep-calm-and-spend-money-39.png

  Recently, I chatted with one of my colleagues, who is in her 50s. She and her husband are still working and they have 2 children. She was sharing that she has no saving. Retirement has never come across their minds. She recently upgraded from a fully paid 5 room HDB flat to an Executive Condominium (EC) that costs them close to a million dollar. Here are what amazed me: Me: How long is … [Read more...]

My Insurance and Annuity Returns

Wealth-management.jpg

*Credit to Kyith from Investment Moats for the XIRR template used to calculate internal rate of returns in irregular interval. Kyith's template is pure art. Here are my findings** on my insurance plans using the XIRR template: 1) Manulife 20 years limited pay - 3.65% returns over 40 years 2) NTUC income whole life - 4.29% returns over 40 years 3) NTUC income 20 years limited pay - 3.23% … [Read more...]

3 Ways to Actually Enjoy Saving Money

Top-Image-5-Ways-to-Actually-Enjoy-Saving-Money.jpg

Forget about penny-pinching advice like the Latte Factor. Here’s our take on how to save money sustainably and happily without changing your lifestyle. — Have you heard of the “Latte Factor” approach to saving? For the uninitiated, the Latte Factor is a metaphor for all the little unnecessary expenditures that we waste our money on, without realising how much they add up to. It’s a simple … [Read more...]

What Happens to Your Assets When You Pass On

Top-Image-What-Happens-to-Your-Assets-When-You-Pass-On.jpg

William Shakespeare bequeathed his second best bed to his wife, Alexander McQueen left £50,000 of his £16M fortune to his pet dogs, while inventor of the iconic Pringles can Frederic Baur requested to be cremated and buried in – no guesses – a Pringles can. Do you know what will actually happen to your assets should you pass on without a will? Let’s find out. Words by Timothy Ho — A … [Read more...]

Singapore’s Best Credit Cards: Groceries

Top-Image-Singapores-Best-Credit-Cards-Groceries.jpg

You might not notice it when you’re at the supermarket, but those $20 or $30 bills can quickly add up to a few hundred dollars each month, just on groceries alone. Check out this list to see the credit cards that will give you the best discounts and cash backs for grocery shopping. — Earlier this week, we published an article sharing 10 useful tips for saving on groceries. Some of the tips … [Read more...]

Budgeting is Hard for Singaporeans. Why?

Top-Image-Budgeting-for-the-Smart-Singaporean.jpg

In recent years, more and more Singaporeans have been falling into the trap of overspending and landing themselves in massive debt. Is budgeting that difficult, or is it a classic case of “enjoy now, be sorry later”? – The topic of budgeting came up again on my radar recently. I was discussing wedding budgets with a few friends who are walking down the aisle soon, and somehow (because us … [Read more...]

Stop Making These 5 Money Mistakes

Top-Image-Stop-Making-These-5-Money-Mistakes.jpg

Travel. Buy a house. Invest in stocks. Save for retirement. There are many things you can do with your money, but are you doing the right things with it? — At what age does one become financially independent? For many of us, the answer lies somewhere in our mid to late twenties after we start work, or at the very latest, in our early thirties. As we progress through the four stages of … [Read more...]

Singapore’s Best Credit Cards: Petrol

Top-Image-Singapores-Best-Credit-Cards-for-Petrol.jpg

The next time you head to the petrol kiosk, be sure to have one of these cards on hand for the best petrol discounts and cash rebates in town. Words by Lee Weiliang — We all know the hefty costs of owning a car in Singapore. Paying for petrol, road tax, servicing and maintenance, Electronic Road Pricing (ERP), car park fees…all these add up to a substantial amount in a car owner’s … [Read more...]