Singapore Financial Planners

Caring for an elderly loved one is challenging – especially if we’re talking about cost. More so if your loved one is severely disabled. Studies show that 1 of 2 Singaporeans aged 65 and above face severe disabilities. Aside from the usual living expenses everyone faces, disabled individuals will require special long-term care. How are you going to fuel these additional financial costs? Eldershield is such a scheme where Singaporeans can tap into for situations like these.   What is Eldershield? Eldershield is a severe disability insurance plan rolled out in September 2002 for Singaporeans and Permanent Residents (PRs) by the Singapore government. This insurance policy provides necessary financial assistance to those, especially older adults, who require long-term care. By long-term care, it means those who suffer from severe disabilities and cannot perform any 3 out of the 6 simple activities of daily living – dressing, bathing, going to the bathroom, transferring, and movi...

With 1 out of 2 Singaporeans aged 65 and above ending up with total and permanent disability (TPD), getting yourself covered with life insurance becomes almost logical. However, TPD payouts are typically for large, expensive payments such as your mortgage. What happens when the life insurance payouts slowly dwindle and you don’t have any other income to get you through your daily long-term care needs? Luckily for you, the Singapore government has passed a bill where all Singaporeans and Permanent Residents (PRs) enjoy disability coverage with monthly payouts where your long-term care costs are met. This disability insurance scheme is called Careshield Life.   What is Careshield Life? Have you heard of the ElderShield Scheme? If yes, you already know what Careshield Life is. It is simply the latest upgrade of ElderShield. Of course, it has some additional features and updated policies, all of which we will discuss down below. In a nutshell, Careshield Life is a nat...

Manulife InvestReady Wealth II Review The Manulife InvestReady Wealth II is an investment-focused investment-linked plan (ILP) . This ILP has one of the lowest fees on the market and is one of Singapore’s most popular.   Criteria You need to be between 18 to 65 years old to purchase this policy The minimum age of the policyholder is 0 years old (You can buy this policy for your child) The minimum investment period of 3 years The minimum investment amount of S$200 or US$300   General Features The features of Manulife InvestReady Wealth II are as follows:   Premium Payment Terms The base premium features are as follows: Min. Investment Period Annual Semi-Annual Quarterly Monthly 3 Years S$12,000 S$6,000 S$3,000 S$1,000 3 Years Flexi S$20,000 or US$20,000 5 Years S$12,000 S$6,000 S$3,000 S$1,000 10 Years S$3,600 or US$3,600 S$1,800 S$900 S$300 10 Years Flexi S$6,000 or US$6,000 S$3,000 S$1,500 S$500 20...

What Is Legacy Planning? Legacy planning is a financial strategy that prepares individuals to pass on their assets to loved ones. The next of kin (your child or grandchildren) can obtain these assets once you pass on. The wealth that you have today didn’t just magically appear out of the blue. You worked hard for it. You’re living the life that you want while supporting your family at the same time. Resorting to legacy planning makes sense for the long run as you prepare to retire officially. You won’t just be spending your golden years peacefully, but you can always rest assured that the future of your loved ones is safe and secure. Early legacy planning helps in protecting and also expanding your wealth to its highest potential. There won’t be any compromises during your retirement, and you get to decide on the distribution of your wealth to your next generation. Why Should Legacy Planning Matter? Legacy planning is all about passing your wealth to your future generation. If ...

With the rising cost of living and the growing necessity of having qualifications to climb up the ranks in most companies, many parents and individuals realise the importance of having a degree. However, many simply can’t afford the exorbitant university tuition fees unless they take up loans. If you’re interested in finding out how to pay for your child’s university education without him/her taking a loan, continue reading to determine how you can conduct education planning in Singapore.   What is Education Planning? Education planning is to proactively identify, develop, and implement approaches to efficiently attain the educational needs and goals for your child. This includes ensuring that you have enough funds for yourself while making plans for your child’s education. Parenting involves several obligations, from caring for the child’s physical needs, imparting values to mapping their future. All of these duties may stack up as you juggle with your daily life. Besides,...

What is financial planning? Financial planning is the preparation for an unforeseen future by comprehensively evaluating your current financial situation. Usually, individuals set goals and determine the path taken to monitor their finances. A factor of financial planning is to establish milestones according to which you would make major financial decisions. Another essential factor to be considered is that not all plans are final, and they can be adjusted accordingly as per the situation. Financial plans above all should be flexible and are not meant to be followed without a second thought. They merely help you in mapping a path to a safe and secure future. Think of it as a blueprint where all your milestones are highlighted.   Why is financial planning important? Financial planning is vital to figure out your financial condition at a certain point in time. When unforeseen circumstances occur, financial planning helps in chalking out finances, which helps you better handle ...