Saturday, December 25, 2010

Personal Financial Plan [3]

I encourage consumers to carry out a personal financial plan, using the calculator shown in this website, www.easysearch.sg/life21. The key feature of this calculator is:
  • It is free (unlike the fee charged by a financial adviser)
  • It is easy to understand
  • It shows you the projected income, after adjusting for inflation
  • It highlights the difference in your income, based on a 2% difference in yield
  • It shows the importance of getting a yield that is 2% above inflation
  • It show the danger of buying a life insurance policy that gives you a poor yield, due to high deduction.
You can also view the tips on "financial planning" and "buying insurance". Working out a Personal Financial Plan is mandatory for every young person, as your future is at stake!

Tan Kin Lian