The following is my answer to a Quora question: “What is the best long term financial advice for a newly-wed couple?” A lot of marriages flounder because of fights about money. Therefore, have a financial plan, make budgets and keep to them. Put money aside in a separate account for investment, and wealth creation. ThatContinue reading “What is the best long term advice for newly-wed couple?”
Tag Archives: financial planning
How do people shop for life insurance?
The following is my answer to a Quora question: “How do people shop for life insurance?” Depending on where you are, there should be web sites that allow you to compare between different policies of similar type and coverage. For policy portfolio, you need to shop around for a good financial services consultant, instead ofContinue reading “How do people shop for life insurance?”
What are the top 3 life insurance policies you can recommend?
The following is my answer to a Quora question: “What are the top three life insurance policies you can recommend?” I am speaking strictly from a Singapore perspective, although I believe the general principle may be applied elsewhere. There are three types of insurance plans that form the foundation of our liability mitigation. Firstly, itContinue reading “What are the top 3 life insurance policies you can recommend?”
4 Lessons on Personal Finance from Covid-19
Perhaps you’ve read 4 Key Lessons That COVID-19 Has Taught Me About Personal Finance. They are: Always set aside Emergency savings. Diversify income streams and skill sets. Get suitable and sufficient insurance coverage. Prepare your Will and complete your Nominations. Here I’ll share additional comments and thoughts on the 4 lessons. 1. Always set asideContinue reading “4 Lessons on Personal Finance from Covid-19”
There’s nothing wrong to take a loan.. but..
Did the title catch your attention? I know it did when I first saw it appear on my Facebook newsfeed. I hope you didn’t miss out the end part “first, ask yourself these 5 questions”. What are they? Can you afford a repayment? Will a loan help you reach an essential goal? When will yourContinue reading “There’s nothing wrong to take a loan.. but..”
Who invented investing?
The following is my answer to a Quora question: “Who invented investing?” When the first hominid set aside some food for the next day instead of eating everything in that one meal, so that it could be traded for favours in scarcity, that was investing. Investing is putting aside assets for later use, or greaterContinue reading “Who invented investing?”
What arguments exist for whole life insurance over term life insurance?
The following is my answer to a Quora question: “What arguments exist for whole life insurance over term life insurance?” Both whole life and term have their uses. Generally, I recommend whole life when the client is younger. If they can afford it, I recommend a limited pay whole life, so they pay for theContinue reading “What arguments exist for whole life insurance over term life insurance?”
MediSave Maternity Package
[This post is extracted from CPF Board’s FB page.] Welcoming a new baby to the family is an exciting time for the family! While there are maternity costs to think about, check out how Chris and Pam can get additional support from the MediSave Maternity Package (MMP), to help reduce their out-of-pocket expenses. Find outContinue reading “MediSave Maternity Package”
Of Shariah-compliant investments
[This post was originally shared on my FB profile on 27 December 2019.] When asked about shariah-compliant investments, I personally would steer towards realm of permissibility as it would widen a client’s option. I personally do not view investments for Muslims to be too rigid as how some would portray it under the claim ofContinue reading “Of Shariah-compliant investments”
What are the best ways to give money to your heirs while you are alive?
The following is my answer to a Quora question: “What are the best ways to give money to your heirs while you are alive?” You have many options, and many forms of transferring wealth. One of the best ways is to set up a revocable or irrevocable trust, with yourself as settlor, and trustee. YouContinue reading “What are the best ways to give money to your heirs while you are alive?”
Financial Planning with M Farhan 