One of my client – who is 79 years old - was thinking of how to make his money work harder as his fixed deposit was earning just 1.2%pa. So I suggested to my client to consider to do a CPF top-up to his CPF Retirement Account. Initially he was skeptical because he does not think it is possible to top-up his CPF. So I went down with him to one of the CPF business center to make an enquiry. After discussion, we decided to ask them to write to my client to provide an official quotation instead … [Read More...]
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More choices with Robo-advisers, more specialisation or more confusion?
In recent times, there have been a sudden increase in number of financial institutions that provide financial advice. I am not just referring to the quantity but the type of financial institutions that have increased. Here is a summary. If I am missed out any, feel free to add to the comment box below. Bancassurance. This refers to banks selling insurance. Normally banks only sell insurance from one insurer. For example, DBS only distributes Manulife’s products. The bancassurance is the … [Read More...]
Featured articles
The risk of using investments for retirement are often underestimated
In this article, I want to write about a little-known danger when using investments to support one’s retirement. Very often, I hear of clients using stocks and REITs as a source of income to support … [Read More...]
Conservative Account (for existing clients only)
This is an announcement for existing clients. The Conservative Account is an investment that aims to provide a return of 2-4% per annum (inclusive of dividends) with low volatility. The Account … Read more
Should I convert/sell (fill in the blank) as I made a lost?
I always get this question from clients whether should they convert their USD or GBP (or whatever foreign currencies) to SGD (or to other currencies). Similarly, I am always asked whether should they … [Read More...]
Long list of db X-trackers ETFs delisting from SGX
That is right, Deutsche Asset Management seems to be pulling many of its ETFs out of Singapore. It has delisted and will be delisting a large number of its db x-trackers ETFs from the … [Read More...]
When would bonds sink together with equities?
Questions: "Wilfred, under what circumstances would bonds and equities drop together?" Answer: High yield bonds or also known as junk bonds are positively correlated with equities. Here is the … [Read More...]
High cost of premium waiver
Question: My adviser advised me not to include the premium waiver due to high cost. What do you think? Answer: Premium waivers are riders attached to a life policy so that upon certain insured … [Read More...]
Tokio Marine TM Retirement GIO is inferior
Question: "Wilfred, my friend recommended me the TM Retirement GIO as a form of annuity. Can you comment on this product?" Answer: The TM Retirement GIO is an inferior annuity. I randomly … [Read More...]
Only 7 per cent confident to save enough for retirement
According Standard Chartered’s The Emerging Affluent Report - The Race to Save, a shocking low number of Singaporeans are confident enough to save for retirement. In fact, only 7% was confident. As … [Read More...]
What kind of jobs that will not be replaced by a robot?
I have been reading and hearing concerns by the government that people must upgrade themselves otherwise they will be replaced. One of the concern is that many jobs are going to be replaced by … [Read More...]
Psychology behind the Singapore ‘chope’ culture and what we can learn to achieve our financial freedom
I was quite amused by the debate on the Singapore ‘chope’ culture. Those who does not live in Singapore find it strange and there has been called by certain quarters to ban this culture. What I … [Read More...]
For young children: Multiple Early, Intermediate and Severe Stage Critical Illness Package (promotion ENDED)
This promotion is meant parents who are looking to purchase insurances for their children. Promotion Summary Insurance Planning fee is WAVIED if you buy an insurance product that provides Multiple … Read more
featured articles
It’s too late to do retirement planning when old, says Citi-SMU
According to Citi-SMU (SingaporeManagement University) symposium on financial Literacy for young adults, it is important to start managing one's finances when young. This is because picking up … [Read More...]
Try this calculator for Supplementary Retirement Scheme (SRS)
If you are looking for the SRS calculator, please scroll down to the end of this article. The Supplementary Retirement Scheme or SRS for short is a tax deferred scheme. In this tax deferred scheme, … [Read More...]
Vacuum Cleaners and Financial Services
What has Vacuum Cleaners salesperson and the Financial Adviser has in common? You'll be surprise there are many similarities. First publish in The Online Citizen, Wilfred Ling tell us what the … [Read More...]
Tips in selecting a Universal Life
Stroll down to the end of this page if you are looking for the Universal Life Calculator I created. Universal Life products are often marketed to the high networth individuals. It appears to be … [Read More...]
Rental income may not be enough to service property loans, warns MAS
"In particular, before investing in property, investors should be aware that rising vacancy rates, declining rentals and impending interest rate increases mean that they may not always be able to rely … [Read More...]
Case study to generate passive income for retirement planning
In this article, I would like to give a description on a case I worked on to help my clients monetise their existing assets in order to provide for a retirement income. My clients – husband and … [Read More...]
Get Full Report on CPF Life with Escalating payouts and the Lifetime Retirement Investment Scheme
The government announced that it has decided to introduce two new CPF schemes: CPF Life with escalating payout feature and the Lifetime Retirement Investment scheme. CPF Life with Escalating … [Read More...]
No advice given, few documentation and non-disclosures but earns easy money
Here is an example on how a financial adviser sold a life insurance product. The following is a scanned image of a section of the KYC: In the KYC, the client declared "I do not want any … [Read More...]
