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:
Saving money is like an adult-version of studying – you are disciplining yourself today for a better future. Yet, despite Singapore’s renowned excellence in education, planning finances nevertheless proves to be anything but easy. According to a survey done by the JobsCentral Group, 23.6% of the workers in Singapore spend most of their income on entertainment and approximately 60% save less than one-fifth of their monthly income.
The following money-saving suggestions are, therefore, tailor-made to suit individuals in Singapore.
Contrary to popular belief, writing a will is actually more than just about money and more than just an optional exercise for the well-off dads and moms. It is also about ensuring that your loved ones – be they your children, parents, siblings, or even favourite charities – are taken care of with the finances and assets you bequeath to them, that you have named executor(s) to carry out your wishes and that your funeral arrangements are as you want them.
Writing a will, therefore, is more important than one may think. Below are four issues often overlooked when writing a will in Singapore:
How much does it cost to raise a child from infancy to 21 years of age? $200,000? $360,000? $1,000,000?
It seems that every financial expert in the country has a number in their minds, as do consumers who have thought this through on their own. Whatever the number is, what's more important is how the number is derived – which is a financial planning exercise in itself. We will leave your numbers to the fruitful financial planning sessions you will have with your Financial Consultant, so for now, we will go straight to some tips on how to spend wisely when raising your child in Singapore.