Property

Is Lack of Adequate Income When You Retire A Concern For You As Well?

I was on Facebook surfing around when I saw this Interesting Poll Question done up by AIA Singapore FB Page and this was what’s been asked…

And seems like there is a good number of people who are concerned about having enough to spend or to last through their Retirement, followed by the concern to provide enough for their Family Members.

So is this a concern for you as well? And if it is… how do you go about planning for it?

I would like to share a few pointers that may help you to get started…

But First… When Does Retirement Planning Really Start?

Are People Around You Living Longer Or Shorter?

Have you asked yourself this question before – Are people around you living longer or shorter?

If you do not have an answer or do not wish to answer this, my suggestion is that you flip through the Straits Time and just have a glimpse at the Obituary Page. You do not have to understand in details but just have a rough feel at the age of people passing on…

My personal opinion is that the answers to the above are both a yes! And the point that I want to bring across is – Have You Planned for both situations?

What Happened When You Live Too Long…

2010 – A New Year To Start And Improve Your Financial Plans

by FinancialDex
January 1, 2010
Financial Planning

Happy 2010!

Phew! 2009 has been a rough year for many and there are many valuable lessons that one can learn from and apply to in 2010.

And some of these which I personally feel that it’s worthy to keep in mind at all times:

It’s wise to be more knowledgeable in what you are investing – nothing is safe till you know the risks involved.
It’s always good to diversify – not just your investment portfolios. Big companies with many years of history may just go bust overnight so do not put all your nest eggs into just one basket. In other words, it’s okay to have the same type of insurance plan with other companies. You need it too!
Not everybody will tell the truth – learn to listen and ask good questions and to put the feedbacks or answers down in writing (do verify after the writing)
What “goes down in March” will “come up in August” – this is an investment lesson or experience that I have personally went through. A unit trust that went real down in March 2009 (also the time when many people choose to sell off) climbed back up in August 2009 (and it was higher than the normal times). So do not follow what other average people do, learn to differentiate and understands from within.
Not all are down during the recession – many stock prices are down but not all and it’s evident in the property market (especially in Singapore) and in the prices of Gold (have you seen how it climb at the last few months of 2009). What this mean to all of us is that we need to understand how the financial market really work – relationship between various investment options like Equities, Commodities, Properties and Cash.
Take good care of your health. 2009 is the year that many people are concerned about their financial health but they are unable to get the insurance that they need. Common illnesses: Hypertension, High Cholesterol and Diabetes!

So will the new year in place, have you set aside some of your resolutions to start and improve on your financial planning?

If not, how about getting some pointers and guidelines from this blog?

For Newborns And Children Starting School (Kindergarten or Primary School)

Mortgage Insurance For Your Mortgage Loan – Part 1 of 3

by FinancialDex
August 10, 2009June 23, 2010
2 Comments
Insurance

With the recent property boom in Singapore, there’s an increment in people taking up Private Bank Loan and thus creating a concern in terms of financial planning – a need to protect the mortgage loan (and their pricey assets) should anything unforeseen happen to the Loan Owners…

The Common Belief – Should Anything Happen, I Can Just Sell Off The Property…

If everything is so straight forward, life will be perfect! In Reality, Property does not sell by itself especially if the Developer had done quite a heavy bit of their own advertising. The initial selling price is usually jacked up and to really pull it off in selling – takes patience, time, effort, negotiation and being able to sustain the few months of loan payment.

Or even the worst case of selling the property below the market value…

So What Should You Do? For Any Mortgage Loan, There’s Mortgage Insurance!

If you only know Term Insurance, there’s in fact a Mortgage Insurance or commonly known as Mortgage Reducing Term Insurance and not to be confused with Decreasing Term Insurance.