FISCA website - interesting articles

The FISCA website contains interesting articles on financial and consumer matters. A few articles will be posted each day. You can view them at www.easysearch.sg/fisca. Some articles will be available for the public (click on the information tab) and others will be available only to members (after login).

Visit the FISCA website a few times each week and keep abreast of these issues. The direct link is http://easyapps.sg/assn/Org/Information.aspx?id=5

Be aware of investment risks

A few people have approached me for assistance regarding their investment losses. They entrusted large sums of money to the wealth managers working for the banks. The investors claimed that they were not aware about how their money were invested and trusted that the wealth manager would take care of their investments. They end up with large losses.

In some cases, the investors were not able to read the portfolio statements, so it is likely that they were quite ignorant about the investments.

Some of the investments were in linked investments or leveraged investments, which carried high risks. These types of investments are speculative, and depend on the skill of the wealth manager to make the right timing decisions. It is almost impossible to acquire this type of skill. Some timing decisions is similar to gambling in a casino - a lot depends on luck.

It is likely that the wealth managers who contributed to these bad investments are also inexperienced in this field.

The more experienced wealth managers are likely to give more prudent advice - such as diversification of risk and selecting the right asset mix. In these cases, the potential return is likely to be modest, after deducting the fee payable to the manager. The investor should accept the lower yield, that commensurate with the lower risk. If the investor wants a higher yield, the wealth manager is likely to be forced to take a more risky approach - which can lead to disaster.

It is important that the investor should be aware of the risk and should select the knowledgeable wealth manager. If the investor is not aware about the risk of investments, it is better for the wealth manager to decline to take the client - so as to avoid these potential problems.

My advice: never invest in any investment that you do not understand. Invest in your education by attending the financial planning workshop organised by FISCA (www.easysearch.sg/fisca).

Tan Kin Lian

Understand the issues

Dear Mr. Tan,

Well done on the recent Presidential Election.

I'm not a Singaporean and have no rights to vote, but I have been keeping myself updated on the events. I may be wrong, but all along, I think you will be somehow crippled in your ability to help ordinary Singaporeans if you become a statesman. So, although I'm not happy with the outcome, but I do think that it's not a bad outcome.

I admire your spirit and courage to step forward for the election, it must have been a hard and long 10 days for you and your family, but I believe it's a fruitful journey.

Having been in a position to see the differences between the policies in NZ and Spore, I see some of your points, eg. a minimum wage. Unfortunately, I think some issues are not appreciated by a certain portion of the population, for example the NS one, I suspect a significant number of the female population was put off as the perception is that it's going to "disadvantage" them. The misquoting by the media is not helping either.

Finally, a Hi5! to you, Sir.

Take care.

Hang Lian

Help people in need

Dear Mr Tan,

I would like to thank you for standing up and contest in the Presidential Elections.

Despite your initial reluctance and the tough competition, you still went ahead with the attempt.

I was touched by your sincerity that could be seen in all your speeches and your voice.

I am only 19 and did not have the chance to vote, but I am here to give my 2 cents worth on what I have seen.

Although you have lost the deposit of S$48k and only garnered less than 5% of the votes, you have gained the appreciation of thousands of Singaporeans.

They may not have voted for you but they know your courage and enthusiasm in helping people in need.

You have mentioned many times in your speeches about your mini-bond campaign to help the people.

However, in my humble opinion, it was not enough to prove to the people how you can be a unifying figure who speaks for them.

Singaporeans want the growing divides to be lessened.

You also did not leverage the advantage of knowing 4 languages as you hardly spoke during the rally.

I think it was a huge mistake to let too many speakers talk in your rally.

The main person should be you as you are the candidate for Presidency.

The people want to hear what you have to say, not others.

I know that you sincerely have the commitment to be a voice of the people but the points you spoke of were not enough.

With utmost respect to you, I will take Dr Tan Cheng Bock as an example.

Dr Tan garnered just 0.34% less than the current President-Elect.

This was due to the way he campaigned and his methods of getting connected to the people.

He stayed away from bread and butter issues, and did not promise anything he could not do as a President.

The people could not see the reasons to vote for you, other than knowing that you are a really kind and good man.

It was a pity that they did not have the chance to listen to what you have to say.

I think you will do better as a man than a President.

As President, you can only control the national reserves and attempt to influence the ruling party in decision making.

However, you cannot take part in any of them.

As a man, you can do much more than that!

I hope you will continue to help people in need, like the poor and lower-income Singaporeans.

Help can come in the form of educating other Singaporeans on the issue and not necessarily money.

There is still many things to point out but I think it is pointless as the PE2011 is over.

I agree to the things you want to do for Singapore but as President, many of which you have said is not possible.

The important thing is you have experienced and learnt from this.

I wish you all the best in whatever you do.

Finally, I want to thank you for everything you have done.

Many people will misunderstand you on the basis of rumours and stories.

As long as you stay true to yourself, don't be discouraged and carry on!

Yours sincerely,

Terence Tan.

Why I voted for TKL

Dear Mr Tan,


My mother and I both voted for you. We marked a " Cross " on the last " Tan " box. There are 4 Tans. BUt we both VOTED for you.


We are touched by your generous offer to donate half your President's Pay to charity. I do NOT know why your message of the " Hi 5 " did NOT get across to Singaporeans.


I personally like your ideas of " Pension " for the elderly. My mother is old. A pension for the old would be good for her. CPF money have NOT be enough for retirement.


I don't know why you received only 4.91 % of the votes. I was praying for you to win the Presidential Election.


Do NOT lose hope. I feel sorry that you lost your SGD 48,000 deposit. I think Singaporeans should and ought to have given you a chance.


Milan Lee

Home Insurance Quotes: Taking Advantage Of The Competition

The increased awareness about the benefits of buying insurances and subsequent demand has led to a significant increase in the number of companies offering such services. The desire to capture greater market share, makes most of these companies offer a wide range of insurance policies that cater to the diverse needs of their clients. The changing times as well as the rising competition, has in fact forced many insurance providers to make drastic changes to the home insurance policies that were traditionally offered to the clients. Even well established firms are now willing to offer customized home insurance quotes to their clients at highly affordable prices.

In the recent years, property owners have realized the importance of getting their properties insured against natural and man-made disasters. Insuring a property helps in reducing losses due to its destruction by a significant margin by almost neutralizing the expenses incurred on renovation and reconstruction. With a multitude of companies offering tailor-made home insurance, quotes and policies, it is left to a prospective insurer to choose a policy that offers the best benefits at the most competitive premium rates. The cut-throat competition between major insurance providers has only helped people seeking home insurances quotes.

Today, it is possible to get a home insurance policy that covers not only the reconstruction cost of a property but also provides cover for re-fitting it with the items of necessity. Even though the premium rates of such policies are on the higher end, the fact that they cover a major percentage of losses in case of emergency situations is sufficient to make them preferable. Moreover, insurers can even get home insurance quotes that cover a wide range of personal items including electrical appliances, jewelry, and even clothes. And it is entirely possible to find reputed insurance providers that offer a decent discount to clients, who choose to insure not only their properties but also the entire contents stored in the buildings.

To make the most of the growing competitions between insurance providers, it is vital that you are well aware of the type of coverage you are looking for. Additionally, you also need to set a budget range for the insurance policy you want to choose as these two issues will play a significant role in deciding the type of policy you will eventually select to protect your property.

Campbell Solberg Associates are one of the foremost and reputable insurance agents renowned for their economical, honest and genuine home insurance quotes . For more information on their services you can logon to their website http://www.campbellsolberg.com.

Books by Tan Kin Lian

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