Can Your Financial Plan Survive Retrenchment, Caregiving or a Health Crisis?
Most financial plans are built around a comfortable assumption: your income will continue, your health will remain stable and your family responsibilities will be manageable. But life does not always follow the plan. A retrenchment, a parent who suddenly needs care, or a serious illness can change your finances almost overnight. Beyond immediate expenses, the […]
Micro-Retirement: Rethinking Work, Money, and the Pace of Life
Recently, I was introduced to the concept of micro-retirement, that is the idea of taking intentional, extended breaks from work, ranging from a few months to even one or two years. Micro-retirement is taken in between career phases rather than waiting for a single “retirement moment” at the end of one’s productive working years. A […]
Contributing to the Supplementary Retirement Scheme (SRS)? Here’s What You Need To Know
It’s the ‘SRS rush’ season once again. You have just about 3 weeks left to contribute to your Supplementary Retirement Scheme (SRS) and enjoy tax relief for 2025. If you have not done so, it takes only a few minutes to transfer the money to your SRS account. This small but timely action could translate […]
Room for (DINKs Dual Income, No Kids) To Up Their Retirement Readiness
DINKs (Dual Income, No Kids) lag considerably behind parents, especially on the Retirement Planning Indicator.
CNA Money Mind Oct 2024 x Karen Tang – Where to Park Your Cash In a Falling Interest Rate Environment
https://www.youtube.com/watch?v=L7aG51646v0 I was recently interviewed by Channel NewsAsia for a segment on their Money Mind TV program that is aired every Saturday at 8:30pm. The focus of the interview was on how to get higher returns with cash as interest rates start going down. As we are aware, the yields for Treasury bills (T-bills) and […]
Retirement Ready: Are You Prepared for Rising Healthcare Costs in Your Golden Years?
A recent article Five in seven insurers to jack up private hospital premiums under Integrated Shield Plans published in The Business Times on 3 September 2024 brought our attention to forthcoming premium hikes to Integrated Shield Plans and riders. Lifetime premiums for the most costly private hospital plans and riders may approach or even exceed […]
How Securing Your Personal Risk Management Is Similar to Having CPR Skills
Let’s Talk About Your Money Mindset – It Matters More Than You Think!
Karen Tang, CFP® Comments On: Singapore’s Median Household Income Up 2.8% in Real Terms in 2023
On 7 February 2024, Business Times published a news article titled “Singapore’s median household income up 2.8% In real terms in 2023”. This is good news for Singapore residents! An inflation-adjusted rise in median income of 2.8% is a very healthy indicator for Singapore’s economy. The news article reported that Singapore’s median monthly household income […]
What You May Not Know About Private Annuities – 17 Aspects To Consider
When we talk about private annuities, it is more often than not that Singapore’s national pension scheme, the CPF Lifelong Income For the Elderly (a.k.a CPF LIFE), will be part of the conversation. CPF LIFE is a national longevity insurance annuity scheme that provides Singaporeans and Singapore Permanent Residents with monthly payouts for as long […]
6 Mistakes to Avoid with Your SRS Contributions
https://youtu.be/H3yGP7OMnk0 It’s once again “SRS (rush) season”. The last day to contribute to the Supplementary Retirement Scheme is 31st December 2023. The Supplementary Retirement Scheme (SRS) complements the Central Provident Fund (CPF) system by allowing account holders to reduce their current income tax. Unlike CPF, SRS is a voluntary scheme. You have full control of […]