Blog

Contributed by Kenny Loh
Senior Consultant, Financial Alliance Pte Ltd
(The contributor can be contacted at kennyloh@fapl.sg)
To learn more about him and read his articles, visit his blog 

It was a very unfortunate event that investors lost their hard-earned money and retirement funds with Six Capital (Read the story here: Angry investors file police reports against FinTech firm Six Capital).

I am rather concerned with this statement in the Straits Times article on Six Capital: A few retirees indicated that they had poured in significant retirement sums. One lady was the age of my mother. She said that she was going to the temple to pray.

What can we learn – as retail investors – from this incident?

Let’s use the SABO model to analyse this incident. By the way, this SABO is NOT the Singlish word for “sabotage”.

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Everyone deserves to have their assets distributed according to their wishes after they die. Engaging the service of a professional will writer when writing a will in Singapore is highly recommended because certain complications may arise when a person tries to write their own will. Let’s see what are some of the common scenarios of writing a will without the help of a professional:

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Contributed by Kenny Loh
Senior Consultant, Financial Alliance Pte Ltd
(The contributor can be contacted at kennyloh@fapl.sg)
To learn more about him and read his articles, visit his blog 

For many years, I have been wondering why most people are not able to invest properly after attending expensive courses and many seminars. I have seen many smart people and professionals like lawyers, doctors, CFOs, Managing Directors, accountants, engineers, scientists, etc, still struggling with their own investment. I have finally found an answer after going through one-on-one private portfolio reviews and consultation sessions with more than a hundred students and seminar participants. In summary, it boils down to the misalignment of Want, Passion & Commitment.

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Contributed by: Michelle Ee
Wealth Management Director, Financial Alliance Pte Ltd
(The contributor can be contacted at michelleee@fa.sg) 
Premium hikes have been occurring since IPs were introduced in 2005. This is mainly due to adverse claims experienced by all IP insurers.  In recent years, the claim situation became worse, particularly for IPs that cover private hospitals. To cope with the unexpectedly high frequency of claims, insurers have to increase premiums.

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“It may never happen to me.” It’s the sentiment that most employees share when it comes to disability income insurance.

Disability income (“DI”) insurance provides the insured individual with a monthly payout should the insured individual lose their ability to  work for an extended period due to accident, injury or illness.

During the period when the individual is unable to work due to their disability, they will receive income on a monthly basis, and the amount payable is pre-selected by the life insured as sum assured when they  took up the policy.

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Owning a business may seem easy on the surface, but with it comes challenges. These challenges, more often than not, have to do with finances. It is natural for owners to be personally invested in every aspect of their business, from arranging financing to hiring employees. However, as businesses mature over a period of time, will these owners have the time to address and manage the growing financial risks as the business grows?

That’s where a financial adviser comes in handy. By working with a financial adviser, business owners can receive expert help in managing their business’ financial risks and transferring them away, thus freeing up time to focus on directing their businesses toward stability and growth.

From insurance planning to managing financial assets, financial advisers can utilize their expertise to help business owners make important financial decisions by recommending financial solutions that match their needs and risk appetites.

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Contributed by: Estelle Heng
Intern from Gerontological Management Studies, School of Humanities and Social Sciences, Temasek Polytechnic.

‘I’m too young to think about this’ is probably the most common excuse not to start financial planning in Singapore. However, if we think twice, we’re never too young. Parents buy insurance for their babies as soon as they are born, some before they even take their first breaths. What’s so important about insurance that it is this urgent? The reality is that unexpected things happen. And when they do, you can’t afford to give up your future because of piled-up debts from hospitals or leaving your dependents to pay them off. So really, insurance is more than just protecting yourself, it includes supporting your loved ones as well.

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Contributed by: Bryan Zeng
CFA, General Manager, FA Advisory Sdn Bhd
(The contributor can be contacted at bryanzeng@fa.my).

Regardless of whether you are in Singapore or anywhere else in the world, financial planning, especially saving and investing, is crucial for you to beat inflation or to achieve your financial goal, such as to have a comfortable retirement. You may have heard of people who lost their fortune during the 1997 Asian Financial Crisis or the 2007 Global Financial Crisis. However, when done right, investing can make an average person a millionaire.
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According to the financial services Industry Transformation Map (“ITM”) released in October 2017, the Singapore government aims to create 3,000 new finance jobs in Singapore annually. Among these, being a financial adviser representative, also known as a financial consultant, is a specialised finance job where building meaningful long-term relationships with customers is key. If that is not rewarding enough, the sky is the limit when it comes to remuneration – because your income is directly proportional to your perseverance and ingenuity, and does not depend on your superior’s appraisal of your performance.

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Contributed by: Shawn Low Wei Xuan
Intern from Gerontological Management Studies, School of Humanities and Social Sciences, Temasek Polytechnic.

We often worry about whether our savings are sufficient to last us throughout our retirement period as we have to consider a lot of unpredictable factors like our desired lifestyle, our dependents’ needs, inflation, longevity, accidents and poor health. All these factors serve as critical risk factors that can potentially stop us from enjoying our golden years if we use up our retirement savings prematurely.

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