After being in the industry for sometime and based on law of large numbers, I am starting to see some of my clients getting a divorce. So I decided to write a short article on what to do when one is getting a divorce or already divorced. Review one’s CPF Nomination. CPF Nomination is not revoked upon divorce. However, remarry will revoke the earlier nomination. For insurance nomination made … [Read more...]
Singapore’s Taxation Advantage
There are the two principal tax systems - source jurisdiction and residence jurisdiction. Source jurisdiction or sometime known as territorial tax system refers to a country that taxes income as a source within its borders. Some countries may also impose tax based on residency, called residence jurisdiction, whereby all income (domestic and foreign sourced) is subject to taxation. Singapore … [Read more...]
Thank you for visiting Wilfred Ling’s website
Thank you for visiting my website. I build my website over many years and it has become rather massive! In order that you can fully benefit from my website, you may wish to visit the following pages in the following order: About Me - HERE Overview of Fee-Based Financial Planning in Singapore - HERE Sign up my mailing list to receive regular financial planning articles (these articles … [Read more...]
Why my best recommendations often require the client to DIY
I have done many financial plans for fee-paying clients. Often at the end of the plan, I’ll make some recommendations. Most of these recommendations require the clients to do it themselves simply because I cannot do it. For example, revoking unnecessary life insurance nominations is one example. Other times it involved buying a product directly from the product manufacturer. I believe that to … [Read more...]
Financial planner is a life coach, but cannot cure existing problems
“A teary Gao Ning, Singapore’s top male table-tennis player, crashed out of his first Olympics in just 24 minutes yesterday, losing 0-4 to unheralded Tan Ruiwu of Croatia. What raised hushed whispers at the Peking University Gymnasium, however, was not the manner of his defeat, but the surprising absence of a coach on court-side to advise and cheer the Singapore paddler on. While the presence of a … [Read more...]
Gambling Addiction 1
My stand on casino is this: No. We should not build one because (1) The love of money is the root of all evil (2) The casino does not create wealth On the 2nd point, I fail to see how the casino can create wealth. There is an article published in ST on Saturday and written by a well known convict on the workings of the casinos. One important thing pointed by the author is the "House … [Read more...]