When it comes to building financial resilience, there are two R words that many of us probably do not like to think about. One is recession. The other is retrenchment. This week, one headline that stood out to me was that retrenchments in Singapore reached a 3 year high in the first quarter of 2026. It was a reminder that while we often talk about markets, interest rates and returns, financial resilience is also about being prepared for the moments when life feels less certain. At the same time, investors were given another reason to think harder about their cash and income plans. The new US Federal Reserve Chairman surprised markets by suggesting that interest rates may stay higher for longer, with inflation still elevated. Here in Singapore, the 6 month T bill yield stayed steady at 1.46% in the latest auction, even as demand surged. So this week, we look...