A lady was sitting at a restaurant looking through the menu while a waiter approached her and asked "Hi Madam, what would you like to have for today?" After a slight pounder, the lady took out a purplish bowling-sized crystal ball from her bag, closed her eyes and gave the ball a few rubs... and replied "Can I have the soup of tomorrow?" I am sure that doesn't happen in our daily life, we would just take what is given to us on the menu, literally go with the flow. In our fast
Begin with an end in mind. How much would you get when your Endowment plan matures in, say 20 years time? Quite surprisingly, many of the individuals I met do not have a clear idea how much their policy pays them when it matures. If you are not clear on the numbers, then that is not call financial planning, that is call throwing money away. Did you know that most of the endowment plans are participating policies, which means there will be a non-guaranteed (bonus) component? G
Are we getting them mixed up? An insurance protects your legacy. An endowment grows your legacy. Many times, people are confused by the added features of an endowment plan and got swayed from their main financial objective. Sales representatives often introduce numerous Riders to a policy. Riders are add-on feature to a main endowment plan. What is a Rider? Just like a side dish added to your main course, Riders are add-on feature to a main endowment plan to enhance the plan'
Endowment, for simple understanding, is a financial instrument that helps you save towards your future goals. There are numerous Endowment plans offered by various financial institutions. Before you commit to any policy, you have to know your financial objectives. #1 Tip: Know Your Financial Objectives Many product providers are keeping up with the competition by constantly creating plans with interesting features, hybrid functions and new way of marketing an Endowment plan.
"Yay, we found you a driver! Your driver is on the way." Does anyone still dials for a commercial cab now? When I say hitch a ride, I'm sure u know what I am referring to. The recent trend of hitching a ride from a complete stranger's private car, who is driving along the way to your destination, rather than taking the commercial/ public cab to bring you alone from point A to B. I was exploring the app and even tried being a hitch driver on a few occasions. I was kinda nervou
Ever walked into a mega supermarket wanting to buy just one or two things but exit carrying two bags filled with groceries? Its been a long standing joke within my family that every single time Mom wants to pop in for just bread and eggs, she would reappear carrying not just bread and eggs but what seems the entire grocery store. You go in thinking you only need these few things but as you walk down the aisles filled with wondrous goods, you start to think “oh wait, I need th
Money, in different forms and make does have an illusional effect on the human mind and our usage of it. Extra care should be taken especially when handling the loose change. More so when we are handling foreign currency of a lower value. Many of you are frequent travelers and when you are on a vacation mood, everyday is a weekend. You spend easily, you are more generous with treating friends, you tend to snack more, you try more things, spend on unique experiences and you ar
Still remember one of a science questions during my primary school days "Which is heavier: 1kg of metal or 1kg of feathers?" I'm sure we can easily handle this question now. How about this "Which has a higher value: $1 coin or $1 note?" "Fab, is that a trick question again?" Many people dislike keeping too much coin in their wallet or purse as they add weight. Our Singapore coin each weighs between 1.70g to 7.62g. Coins are deemed dirtier because of the metal smell whilst our
This is not going to be a boring history lesson, I hope. It is in fact pretty interesting to know how money took its form from the ancient time till today and the impact it play on our human mind. Metal money was evolved way back in ancient 600 BC where people used gold and silver coin as a common medium of goods and services exchange. Over the thousand decades, new money was created both in paper and metal form. Paper money was first used in China during year 960. Gradually,
When water is poured, it flows out to fill the shape of any container or surface and it's not easy to retrieve. Money, often relates to as 'water', flows out easily and usually you won't see it again. If you lack an objective set of financial goals for your life, you probably reach the end of each month to find yourself thirsty or dry up. You vow that next month will be different but it never is. Why? Because your pay cheque always flows to pay others first. Some examples of
As much as we know money can be the root of all evil, we can't live a day without it. Just like water and fresh air, money, as medium of exchange is essential in our daily life. The sad thing is, money depreciates in value because of inflation. As the world progresses and standard of living improves, there will be an increasing pressure to pursue greater wealth. As a result, many people spends time searching for the best interest paying financial product, attend investment co
“Fab, can you tell me, how much should I save?” "How much does your other clients usually save?" I get this question a lot from the meetings I have with my clients and even friends. Truth to be told, I don't have the magic number. Everyone is different. That’s what makes us unique individuals. Everyone earns a different salaries, have different household commitments, different life goals, live a different lifestyles, and interestingly, our family background also plays a part