Jonathan Chua

Source: The Straits Times No one wants to be caught short when a life crisis strikes, so it's no wonder that the risk of being financially unprepared tops the list of concerns among Singaporeans. Buying appropriate insurance cover is a way of transferring this risk & getting some protection, but how much is enough & what policies should you consider? A 2012 study by the Life Insurance Association Singapore (LIA) on under-insurance identified a $462 billion gap for working Singaporeans & permanent residents. Many are under-insured, so do check if you and your loved ones are adequately protected This gap is defined as the protection need (death coverage) of all economically active adults here minus Central Provident Fund savings and existing insurance coverage. On an individual level, it comes to $242,500 for a working adult or 3.7 times his annual income, after taking into account CPF savings. Against a backdrop of Singapore's rapidly ageing popul...

Financial Advisor Financial consultant is a job title that now has been replaced by financial advisor at most financial services firms. Financial advisor (FA) and financial consultant (FC) are contemporary job titles for what used to be called a stockbroker, broker, account executive or registered representative. A variant spelling, financial adviser , also is used by some firms in the industry, and by some financial reporters and publications. Though the term financial advisor has been in general use since the early 1990s, it is not without controversy. Many critics still maintain that it implies adherence to the strict fiduciary standard that requires acting in the best interests of clients, rather than the less stringent suitability standard that traditionally binds brokers. Merrill Lynch , for example, was among the last of the major firms to adopt the term, entirely due to this concern on the part of its legal and compliance department , which was very conservative at th...

All You Need to Know Before Buying Your First Plan When you’re young and naive and believe that everything will work out somehow, it’s pretty hard to imagine ever needing to buy insurance. Yet, getting your insurance portfolio in order is probably one of the best things you can do for your finances. And in fact, it’s best to do it while you’re young and healthy. To help you make sense of the world of insurance so you can compare the different insurance plans, we have crafted this comprehensive guide. Consider it your very own Idiot’s Guide to Insurance in Singapore. source

What do you want to do when you retire? It may be a long way off (and a hard question to answer), but it’s important to think about life after you stop earning a regular paycheque. Whether your goal is to travel, learn a new skill, indulge in hobbies or simply maintain your current standard of living, you’ll need to rely on savings to cover the cost of these activities, in addition to your everyday expenses. By doing the groundwork now and learning how much you need to save, you can let your dreams drive your retirement, rather than letting available funds drive your dreams. Here are three things you can do right now to boost your retirement savings, and three tips to help you a few years down the road. 3 things for today: Cut spending Maximize investments to pay less tax Become debt-free 3 things for tomorrow: Consider downsizing Work longer and ease into retirement Prepare for the unexpected source

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