Hi Mr Tan,
I am an avid follower of your blog. I like your advice, usually neutral and conservative which suit me.
I would like to ask for some advice from you about purchasing of my first life and health insurance. I recently decided to buy insurance from a friend. He didn't approach me rather it was me who approach him.
I am a 24 year old male. I am healthy I guess without much problem. I want to buy insurance from protecting my family from financial catastrophe. I have do some reading about insurance but I think its still not enough for me to evaluate any insurance plan well. After going through my financial, my friend/agent came back to me with 3 plans, one is term insurance, one is saving type insurance, the last is investment linked. (Details of three plans provided)
My question is, am I paying too much premium? Am I covering too much? The CPF portion seems to be taking quite a lot of money away?
REPLY
I suggest that you buy my book, Practical Guide on Financial Planning, to read about the fundamentals of financial planning. It also explains why you should not buy any whole life or investment linked policy - as the distribution cost is too high.
You can buy the book here:
www.easysearch.sg/ishop
You should buy term insurance. The best type is from Aviva (SAF) or NTUC (SAFRA insurance). You can get a comparision of the cost here.
http://www.easysearch.sg/Admin/File.aspx?id=19
Tuesday, April 13, 2010
Monday, April 12, 2010
Asian economies urged to raise interest rate
Asia’s developing nations are recovering strongly from the global financial crisis, but should now start raising interest rates and adopt more flexible exchange rate policies, the Asian Development Bank said in a major report Tuesday.
http://www.nytimes.com/2010/04/14/business/global/14asiaecon.html
My comment:
When interest rate is raised, you can expect property and stock markets to correct from their current level, which is a bubble caused by low interest rate.
http://www.nytimes.com/2010/04/14/business/global/14asiaecon.html
My comment:
When interest rate is raised, you can expect property and stock markets to correct from their current level, which is a bubble caused by low interest rate.
Survey - expenses of a retired couple
How much does a retired couple have to spend each month to live in Singapore? Give your views in this survey.
I estimate that the expenses for a retired couple with a home for an adequate lifestyle is $1,200 a month and the bare minimum is $800. What do you think?
I estimate that the expenses for a retired couple with a home for an adequate lifestyle is $1,200 a month and the bare minimum is $800. What do you think?
Defamation and fear
Singaporeans are so afraid to express any opinion, as they fear that any negative opinion about any person or organisation can be considered as defamtory. What a shameful state of affairs. How has the country got into this state?
Tan Kin Lian
Tan Kin Lian
The future for our country
A met a nurse at a wake. I said that the current government had done a lot of good for the people and the country during the first 30 years after independence. During the next 15 years, the policies have been bad for the people, as they led to high cost of living, stagnant wages and wide disparity of income. The government leaders are not working for the welfare of the people and appear to be looking after the intrest of big business and their own interest.
Most people have been quite unfair in judging the "poor quality" of the opposition politicians, as their main source of information is the mainstream media.
I know many of these politicians personally and appreciate their personal sacrifices in being willing to take a stand against the ruling party. Many of them are quite well educated and decent people, quite moderate in their thinking and feel strongly for Singapore. Some people think that they only appear at election time. This is not true. They do spend time on the ground work, but are not reported in the media. We must remember that they have to make a living and have to face difficulty in the business or at work.
She was surprised at my frankness. She started to express her own feelings of doubt about the future of our country and the direction that it is heading. She lamented that many Singaporeans are not able to think about what is good for the country and are afraid to think differently from what has been told to them in the media.
Tan Kin Lian
Most people have been quite unfair in judging the "poor quality" of the opposition politicians, as their main source of information is the mainstream media.
I know many of these politicians personally and appreciate their personal sacrifices in being willing to take a stand against the ruling party. Many of them are quite well educated and decent people, quite moderate in their thinking and feel strongly for Singapore. Some people think that they only appear at election time. This is not true. They do spend time on the ground work, but are not reported in the media. We must remember that they have to make a living and have to face difficulty in the business or at work.
She was surprised at my frankness. She started to express her own feelings of doubt about the future of our country and the direction that it is heading. She lamented that many Singaporeans are not able to think about what is good for the country and are afraid to think differently from what has been told to them in the media.
Tan Kin Lian
Gold investment scheme
Hi Mr. Tan,
Recently there is this gold investment scheme by 2 companies called X Gold and Gold label. They claim that it is a pretty low risk investment with 9% guranteed return after 6 mths which will mean a return of 18% annually. What is your opinion on this? Is it too good to be true?
REPLY
Of course it is too good to be true. Never invest in promises that you do not understand.
Many investors were offered a return of 12.5% after 6 months on a land banking product and on an industrial chemical product. When the investment matured, they did not get back their principal or the interest. The promoter of the product gave all kinds of excuses - citing the financial crisis. It is easy for you to hand over your money, but difficult to get it back.
There is a chapter in my book, Practical Guide on Financial Planning, about unregulated products that should be avoided. You can buy the book ($12) here.
Recently there is this gold investment scheme by 2 companies called X Gold and Gold label. They claim that it is a pretty low risk investment with 9% guranteed return after 6 mths which will mean a return of 18% annually. What is your opinion on this? Is it too good to be true?
REPLY
Of course it is too good to be true. Never invest in promises that you do not understand.
Many investors were offered a return of 12.5% after 6 months on a land banking product and on an industrial chemical product. When the investment matured, they did not get back their principal or the interest. The promoter of the product gave all kinds of excuses - citing the financial crisis. It is easy for you to hand over your money, but difficult to get it back.
There is a chapter in my book, Practical Guide on Financial Planning, about unregulated products that should be avoided. You can buy the book ($12) here.
Who shot the lion?
80 year old man : My 28 year old wife is pregnant, your opinion Doctor?
Doctor : Let me tell you a story. A hunter in a hurry grabs an umbrella instead of the gun. He moves into the jungle, sees a lion, lifts the umbrella, pulls the handle and BANG... The lion drops dead!
Old man : That's impossible; someone else must have shot the lion.
Doctor : MY POINT EXACTLY!
Doctor : Let me tell you a story. A hunter in a hurry grabs an umbrella instead of the gun. He moves into the jungle, sees a lion, lifts the umbrella, pulls the handle and BANG... The lion drops dead!
Old man : That's impossible; someone else must have shot the lion.
Doctor : MY POINT EXACTLY!
Subscribe to:
Posts (Atom)