A recent article on Straits Times about Torque and Singaporeans investors losing their life savings serves as a stark and timely reminder. The most important rule of investing is to never invest money that you can’t afford to lose. Here is a short blog post on why it is important to only invest money that we can afford to lose and how we can guard against such dire outcomes. Singaporeans lost ... continue reading...
Financial freedom cost US$3.2 million in Singapore, I find out what’s the amount for my household
An article originally published on South China Morning Post stated that the threshold for financial freedom in Singapore was US$3.23 million (approx. S$4.33 million), placing it seventh on the list of 11 global gateway cities. The article got picked up by AsiaOne and quickly went viral on the personal finance community, largely because of the staggering amount stated. I was intrigued too because I ... continue reading...
Review of GREAT EASTERN 3-Year Online Endowment Plan: GREAT SP SERIES 3
I previously signed up for Great Eastern GREAT205 in 2017 with my Supplementary Retirement Sum (‘SRS’) funds. As it was a 3-year endowment plan, I received the full maturity benefit of 106.33% (inclusive of Maturity Benefit, which is 100% of the single premium) when the policy reached maturity in late 2020. After that satisfactory experience, I remain on the hunt for investment solutions with ... continue reading...
Review of Singtel Dash PET: Up to 1.7% p.a., capital guaranteed!
Given the need for central bank to keep the cost of borrowing low to stimulate the economy, banks had also lowered interest rates on their flagship savings accounts in tandem. Gone were the days when we could easily pocket ~2% - 3% interest rate p.a. effortlessly. Having been accustomed to such returns, it is little wonder that flexible insurance savings plans offering sub 2% returns are gaining ... continue reading...
My NTUC Income Dependants’ Protection Scheme (DPS) Now Administered by Great Eastern
Several massive changes are happening to the insurance sector on 1 April at once and its coincidence is certainly no April’s fool joke. I wrote about how some insurance providers are replacing existing ISP with full insurance riders from 1 April onwards. On the same day, all Dependants’ Protection Scheme (‘DPS’) policies will also be exclusively administered by Great Eastern (‘GE’). Therefore, I ... continue reading...
