Enhancements to ElderShield scheme

Some of you might have heard – our national long term care insurance scheme, ElderShield, will be enhanced and renamed as CareShield Life. This is a good move as Singapore’s population is rapidly aging with shrinking family sizes, hence a declining old-age support ratio. To be launched in 2020, some of its key points are below: CareShield…

The Lifecycle Financial Planning Approach

The lifecycle financial planning approach places all your financial activity into distinct time periods, or stages, with retirement acting as the final phase in the financial lifecycle. This approach is powerful as it provides you a clear framework for evaluating different decisions. Here are the 5 standard financial life stages encompassed in the lifecycle approach….

Simple Financial Tips That Can Make A Difference

2018 has certainly flew by and wow.. we’re going into March already? Perhaps now is a good time for us to do a stock-take on our money. Here is a couple of tips on how to keep more money in your wallet this year. 1. Don’t Do Mental Accounting When Building Your Budget Mental accounting…

2 Investing Biases that Hurt Your Retirement Savings

Being aware of our behavioural biases could mean a significant increase in retirement savings. There are two common biases that can affect how we save for retirement: 1. Present bias – the tendency to put more value in current or short-term decisions than the future 2. Exponential-growth bias (EGB) – the tendency to underestimate and neglect the…

Cultivate a Healthy Relationship with Money

Cultivating a healthy relationship with money is the foundation of a rich and happy life. Just like any other relationship, for your money to blossom, it needs attention and care. You don’t want to stifle it with worry and fear, but you also don’t want to be careless. You need to get to understand it,…