7 Reasons Why We Need Life Insurance

We buy life insurance as a solution to life’s problems and opportunities. In Singapore, as people become more financially literate, the percentage of us enjoying insurance protection has increased since the mid-1900s. Here are 7 reasons why we need life insurance: 1. Protection against premature loss of income “The greater your income, the more you…

Is Paying for Insurance a Gamble? Your Biases Could Hurt Your Finances

 Some people may feel that paying for insurance and gambling are similar because in both cases, a person sets aside a smaller amount of money in the hope of getting a disproportionately larger return. Let’s look at the 3 behavioural biases in gambling psychology which could affect your insurance planning – framing effect, loss aversion and optimism bias….

How is “Safe” Actually Dangerous? And Vice Versa…

Some people may feel that investing in equity markets is dangerous. This is true when you do it for the short term and focus on a single country market. However, if you have a globally diversified portfolio and are able to invest for the long term, you will be able to enhance your returns with…

3 Mistakes in Retirement Planning

It is common for young working adults to delay saving for retirement as they feel that they still have a long time before this stage in life. Suppose you are 25 years old now and intend to retire at age 65. Given the average life expectancy of Singaporeans of 85 years old, you would have…

4 Smart Steps to Financial Freedom

Financial freedom is defined as the state of not having to work actively and be able to sustain a desirable lifestyle. You will have the ability to make choices, to spend time with your family and loved ones, to travel the world or to pursue a lifelong interest which you haven’t been able to. All…