Regardless of whether one is an employee or entrepreneur, it’s natural for one to aim to have the best possible retirement plan in place so that one can enjoy his/her golden years with peace of mind. However, as an entrepreneur, retirement planning could be a little less straightforward and is subject to different considerations from those for an employee. Here are a few factors an entrepreneur needs to take into account when planning for retirement:
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Financial Alliance > Blog
08
Dec
Dec
Document Checklist for Writing a Will in Singapore
When getting a will drafted, it is advisable to prepare the necessary documents to save yourself the unnecessary hassle of going back and forth with the will writer. To smoothen your will writing experience, we list below key documents that you can bring along when meeting up with your will writer.
24
Nov
Nov
How Health Insurance Complements the Financial Plans of Singapore Youths
Getting health insurance cover is an important part of financial planning, even for young adults who live in a country like Singapore where the government actively exhorts healthy living as a priority and maintains a world class medical hub. It is understandable why young adults in Singapore find it difficult to wrap their minds around the idea of getting health insurance, especially since they live in one of the cleanest countries in the world.
However, getting health insurance is not just about protecting yourself today, it is also about planning ahead and protecting yourself in the future. Below are some examples of how youths in Singapore can benefit from having health insurance in place:
20
Nov
Nov
Making Sense of Critical Illness Insurance Part 4
Contributed by Michelle Ee, Wealth Management Director, Financial Alliance Pte Ltd
and MK Chan, Corporate Development Director, Financial Alliance Pte Ltd
(The contributors can be contacted at michelleee@fa.sg and mkchan@fa.sg)
In our previous articles, we gave an overview of what a critical illness insurance is, how the payout for a critical illness insurance works and how much critical illness insurance should one get. For this last instalment, Ms Michelle Ee, Financial Alliance’s Wealth Management Director, will talk about what to be wary of when making a purchasing decision.
13
Nov
Nov
Making Sense of Critical Illness Insurance Part 3
Contributed by Michelle Ee, Wealth Management Director, Financial Alliance Pte Ltd
and MK Chan, Corporate Development Director, Financial Alliance Pte Ltd
(The contributors can be contacted at michelleee@fa.sg and mkchan@fa.sg)
In our previous articles, we gave an overview of what a critical illness insurance is, and how the payout for a critical illness insurance works. Hence, for this instalment, Financial Alliance’s Wealth Management Director Ms Michelle Ee shares her opinion on how much critical insurance is adequate.
07
Nov
Nov
Are You Worried Because You Haven’t Started Planning for Your Retirement?
While everyone wishes to put in place the best retirement plans, it ought to be noted that starting to build a retirement plan at a younger age has irreplaceable benefits. The longer the time horizon, the better an investment portfolio can capitalise on the compounding effect on retirement fund value. It is, therefore, unsurprising to hear that on average, Singaporeans start planning for their retirement when they are 27 years old.
Below are three tips that you could take into consideration when you set out to create what might be the best retirement plan for yourself.
06
Nov
Nov
Making Sense of Critical Illness Insurance Part 2
Contributed by Michelle Ee, Wealth Management Director, Financial Alliance Pte Ltd
and MK Chan, Corporate Development Director, Financial Alliance Pte Ltd
(The contributors can be contacted at michelleee@fa.sg and mkchan@fa.sg)
In the previous instalment, we explained what critical illness insurance is and why it is essential to be covered by critical illness insurance. In this instalment, Ms Michelle Ee, Financial Alliance’s Wealth Management Director, discusses the payout patterns of critical insurance policies and shares her opinions about them.
02
Nov
Nov
Making Sense of Critical Illness Insurance Part 1
Contributed by Michelle Ee, Wealth Management Director, Financial Alliance Pte Ltd
and MK Chan, Corporate Development Director, Financial Alliance Pte Ltd
(The contributors can be contacted at michelleee@fa.sg and mkchan@fa.sg)
Why take up critical illness insurance when you’re healthy and experiencing no sign of anything “critical”?
The short answer is to guard yourself against the potential loss of insurability. Even though it is often heard that insurance is sold and not bought, it is always the insurer’s decision whether to cover and what to cover – and insurers don’t cover existing conditions.
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01
Nov
Nov
Presenting the “Financial Compass” App
More than just a calculator, “Financial Compass” is your ultimate retirement planning companion.
Not only can you use “Financial Compass” to find out your current state of financial health, you can also use it to plan your retirement by taking into account your retirement goals, income, assets, shortfall, etc.
25
Oct
Oct
Representatives of Financial Advisers see a Growing Demand for Their Services in Singapore
Contributed by Michelle Ee,
Wealth Management Director, Financial Alliance Pte Ltd
(The contributor can be contacted at michelleee@fa.sg)
Life insurance business in general is enjoying an uptrend in Singapore – but the three main life insurance distribution channels are facing mixed fortunes.
According to the Life Insurance Association of Singapore (“LIA”), the Singapore life insurance industry continues to grow briskly, with weighted premiums received by life insurance companies in the first half of 2017 to be 10% above those received in the first half of 2016. This has led me to take a broader look at how the three main life insurance distribution channels – namely the tied agents, banks and financial advisers – have fared in general in the last decade or so.
06
Oct
Oct
The Best Retirement Plan – a Healthy, Wealthy and Happy Life
Although money plays an important role in creating for ourselves the best retirement plan we can afford, a fulfilling retirement is more than just about money. Many key components have to be put together to make a happy and worthwhile retirement come true. We take a quick look at two essential qualitative factors of a great retirement plan:
22
Sep
Sep
The Pros and Cons of a Diversified Portfolio
Portfolio diversification is a key financial planning concept in Singapore which is pivotal in mitigating risk. Spreading out investments across more than a single investment channel nullifies the “all eggs in one basket” syndrome, which deluges avid risk-takers in debt when a market venture turns sour. Portfolios can be generally diversified via investing in different asset classes or within the same asset class by using mutual funds, bonds, real estate, insurance, precious metals and other notable assets.