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The Real Singapore: Evidence on little understanding on financial planning from stolen article

Recently one of my old article entitled Man lost almost his entire HDB property to siblings due to poor financial planning got “stolen” and was published without my permission on The Real Singapore website and shared on their facebook page. I was going to write to the editor of The Real Singapore for copyright infringement when I got shocked with the reaction of the commentators. The reaction was so comical that I decided to also share to all by copying and pasting the facebook … [Read More...]

home protection scheme

ST forum: Home Protection Scheme – Start coverage once payment is made

Previously I wrote about the case in which a lorry driver Jason Lim Wei Kwan drowned when the lorry he was in slid off a barge and sank into the sea off Pasir Panjang Terminal. As I suspect they had applied for a BTO but now having difficulty paying the remaining balance due to the Home Protection Scheme only taking affect after collection of keys, I decided to write to Straits Times. The following letter was published on 8 October 2014: Home Protection Scheme - Start coverage once payment is … [Read More...]

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insurance like from NTUC Income, Aviva and Tokio Marine

NTUC Income, Tokio Marine & Aviva inconsistent underwriting standards

I want to share with you the different underwriting standards practice by different insurers. Recently, I have a client, age 27, whom I helped her applied for insurance and the outcomes were all different. The insurance applications were part of the recommendations from comprehensive financial planning. The client suffered from heart murmur. Her mother suffered […]

lease buyback scheme hdb

Lease Buyback Scheme – a viable financial planning tool?

Announcement was made on 3 September 2014 by Prime Minister Lee Hsien Loong during his National Day Rally speech that the scheme would be extended to four-room flats.  What is the Lease Buyback Scheme? Is it a viable financial planning tool? Under the current Lease Buyback Scheme, flat owners sell the tail end of their […]

How financial advisers are paid?

This article is inspired by this article YOUR PRACTICE-How to tell clients financial advice isn’t free. I have met many individuals who could not understand how financial advisers are paid. Very often, they think financial advisers have a salary. In Singapore, most advisers do not have a salary. They are self-employed. However, regulation requires them […]

Why you should never fall in love with your investment?

Why you should never fall in love with your investment?

If you prefer to read, the following is the transcript: In my dealing with investment clients, I often find my clients falling in love with their investments. I will always counsel them to distance themselves from their investments because once they become too emotional, their investment decision making becomes subjective. How do you know you […]

direct selling directasia

DirectAsia online term life insurance

Many may have heard of DirectAsia selling motor insurance online. However, what is little known is DirectAsia’s online term life insurance which was launched on 9 October 2013. The term life insurance is underwritten by AXA Life. This online purchase is not the same as MAS’ push for life insurers to sell directly. DirectAsia is […]

hospital

Medical Expenses – how expensive can it get?

Have you heard of the story of Marjorie who was diagnosed with a bone cancer at just six? After fighting for 6 years, she passed away leaving her parents in debt. The estimated medical expenses for cancer was whopping $400,000! Marjorie’s grandmother even sold her flat to help pay for medical expenses[1]. Consider another case: […]

cpf life sovlency

ST forum: Guarantee CPF Life solvency for peace of mind

The following letter was published in Straits Times Forum page on 13 August 2014 regarding CPF Life solvency: Guarantee CPF Life solvency for peace of mind THERE is merit in removing the Central Provident Fund Minimum Sum cap (“Call to remove cap on CPF Life top-ups“; last Wednesday). There are those who have met their Minimum […]

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