3 pieces of money advice no one ever wants to hear

I’m a financial planner and these are 3 pieces of money advice no one ever wants to hear

I remember my mom telling me to eat more vegetables when I was younger. At that time, I absolutely hated broccoli and only ate it because I can only play with my playstation after that. Years later, I can only assume eating broccoli was a great decision because I don’t really fall sick as often as my peers. I did not appreciate my mom’s nagging advice (I mean who did at that time) until years later.

Turns out that nagging found its’ way into adulthood. As a financial planner, I’m constantly giving money advice that no one wants to hear. But those who listened and applied the concepts tend to have better cashflow, protection and investment portfolio.

You might not like it, but it is for your own good.

3 pieces of money advice no one ever wants to hear
3 pieces of money advice no one ever wants to hear

 

#1: You Got To Save To Have Money To Invest

“I want to invest but investing more than $100/month is too much because…”

To set the context, these are people with good monthly income of around $3000 to $6000. I find it scary to have so many conversations with people who have issues setting aside money every single month BUT wants to invest. It is like wanting to bake a chocolate cake with no chocolate. Often, not having a Level #2: Abundant Surplus Creator set up is one of the main cause of failure.

Saving more than you need will buy you opportunity and freedom in the future. The usual guideline is to set aside at least 25% of your take home salary. This 25% will buy you opportunity and also freedom that you desire.

 

#2: Have A Backup Plan

“You will fail in life 33% of the time. Do you have a backup plan?”

Cancer hits 1 out of 3 people in Singapore. Each and every of us have a 33% chance of our income source robbed away when we are unable to work when we are ill. If you are lucky and detected it early, the effects may be temporary. However, if it is a major critical illness, the effects will be longer term in nature.

With COVID-19 still looming over our heads, I think it is clear that the next war we will be fighting is a Health War. No one likes to imagine the worst cause situation but if something really happens, you will be glad that you have a backup plan Level 4: Aegis Of War aka insurance especially medical and critical illness coverage.

Other forms of backup includes having adequate emergency funds.

 

#3: Don’t Time The Market. Invest For The Long Term

“I want to wait until the market crash (like in March 2020) and invest.”

You will be waiting for a long time. Before March 2020, it was Sept 2008. Before Sept 2008, it was April 2000. From 2000 to 2021, S&P500 is up roughly 189% with a CAGR of around 6%. It is certainly very easy to look back in 2008 or 2020 to say that it is the best time to invest BECAUSE it has already happened.

It is virtually impossible to predict the market. Investing may be all sunshine in 2020. However, it is not as fun and sexy as you think it is. The recent pull back has shattered some confidence in the market and you might be wondering what to do next.

Build a strategic investment plan and stick to it. We want to invest in companies that is of value and growing and hold it until it rewards us. You can take a look at some of the largest companies now that is rewarding investors. Companies such as Apple and Facebook are rewarding investors with price appreciation and also dividends over the last 10 years whether it is market crash or not.

 

Final Thoughts By Wealthdojo

Eat your veggies. Trust me, it is good for you.

 

Chengkok is a licensed Financial Services Consultant since 2012. He is an Investment and Critical Illness Specialist. Wealthdojo was created in 2019 to educate and debunk “free financial advice” that was given without context.  

Feel Free To Reach Out To Share Your Thoughts.

Contact: 94316449 (Whatsapp) chengkokoh@gmail.com (Email)
Telegram: Wealthdojo [Continuous Learning Channel]
Reviews: About Me

The views and opinions expressed in this publication are those of the author and do not reflect the official policy or position of any other agency, organisation, employer or company. Assumptions made in the analysis are not reflective of the position of any entity other than the author.

Top 5 CPF Decisions To Be A CPF Millionaire

Top 5 CPF Decisions To Be A CPF Millionaire

Top 5 CPF Decisions To Be A CPF Millionaire
Top 5 CPF Decisions To Be A CPF Millionaire

CPF remains one of the main cornerstone of wealth management in Singapore. There are tons of information regarding the CPF on the web and I’m happy to see that CPF is having a purposeful outreach to the retirees and even the younger crowd. I do notice a better acceptance of the CPF during my 9 years in financial services and I do hope this trend continues.

Previously, I have spoken about 5 Things You Need To Know About Your CPF. This stems from 5 mistakes people make using their CPF that I have written in the last year. One of my friend then asked me why not write about the best advice that I will give with regards to CPF.

I have reservations about using the word “advice” because this assumes that I understand the situations, the profile, the life stage and risk tolerance, etc about that individual. Hence, this article is not about best advice but perhaps best decisions you can make if it fits your situation.

If you wish to find out more, I’m organising a CPF webinar on 29th April 2021. Limited seats only. Click here to join us.

 

#1: Transfer money from OA to SA

This is a pretty easy one. Currently, the floor rate of CPF-OA is 2.5% and the floor rate of CPF-SA is 4%. You would want to put more money into an account with higher interest with all things kept constant.

Top 5 CPF Decisions To Be A CPF Millionaire Compounding Effect
Top 5 CPF Decisions To Be A CPF Millionaire Compounding Effect

For the same $20,000, you would have $68K in your CPF-OA and $142K in your CPF-SA after 50 years. This is a difference of $73K. However, I do acknowledge that some might need to use the monies in the OA for your housing loan or downpayment. If you do not have “extra” monies in your CPF-OA, you can consider to transfer it to your SA.

Please note that this process is irreversible.

 

#2: CPF-SA Shielding

At the age of 54, you might want to consider CPF-SA shielding. In a nutshell, it means keeping your monies in your CPF-SA account to get a higher interest. This is because at age of 55, the formation of your RA (retirement account) starts from your CPF-SA and than your CPF-OA.

Top 5 CPF Decisions To Be A CPF Millionaire CPF SA No Shielding
Top 5 CPF Decisions To Be A CPF Millionaire CPF SA No Shielding

This is an example of no shielding. All your CPF-SA ($150K) will be transferred in the creation of you CPF-RA account leaving $0 in your CPF-SA after age of 55.

Top 5 CPF Decisions To Be A CPF Millionaire CPF SA Shielding
Top 5 CPF Decisions To Be A CPF Millionaire CPF SA Shielding

With CPF-SA shielding, you temporarily transfer out you CPF-SA into a “safe” investment. $40,000 is left in the CPF-SA due to the rules of the CPF. At age 55, during the creation of the CPF-RA account, only $40K is transferred from CPF-SA and the rest will be transferred from CPF-OA. You then transfer the monies back to your CPF-SA which is giving 4% interest.

Remember that the crust of this is to keep your monies in the higher interest account.

 

#3: Upgrade your Medishield Life to an Integrated Shield Plan

I cannot emphasize more on the importance of medical insurance. With the new adoption of the co-payment structure of our medical plan, you can also interpret it as medical costs are getting more and more expensive.

It is important to get a medical plan that suits your needs especially during retirement age where the chances of hospitalisation are a lot higher. Having a strong medical plan is a risk management to help you remain a CPF millionaire.

 

#4: Choosing The Appropriate CPF-Life Option

Big shoutout to families here. Do you know that you can increase the amount of money you leave behind to your loved ones if you select the appropriate CPF-Life option?

Top 5 CPF Decisions To Be A CPF Millionaire CPF Life Bequest
Top 5 CPF Decisions To Be A CPF Millionaire CPF Life Bequest

If you don’t select the CPF-Life option, it will be a standard plan. Let’s look at the difference between the standard plan vs the basic plan.

Difference Between Standard Plan and Basic Plan Monthly: $124 (taking the lower estimate)

Difference Between Standard Plan and Basic Plan from Age 65 to 83: $26,784

The reason I’m using age 83 is because that is the accepted mortality age in Singapore at the moment. This is means that we are expected to live until age 83 (life is short isn’t it). For an extra $124 a month (the cost of one meal a month), your family might lose out potentially $84,368 (because $111,152 – $26,784) worth of bequest. This “extra” bequest may help your loved ones become a CPF Millionaire.

I hope this word gets out to more families out there.

 

#5: Using cash to pay for your mortgage

CPF was set up years ago as a retirement vehicle. In 1968, the government finally allowed the use of CPF for the downpayment and to service the monthly mortgage loan instalment. This means that less will go into your intended retirement (not taking accrued interest into account).

Using more cash to pay for your mortgage will leave more money that will be compounded for your retirement so that you can become a CPF Millionaire.

 

Final Thoughts By Wealthdojo

The decisions above serves as a guide and shouldn’t be taken as advice. The main emphasize is to consult an expert to see if any of the decisions above serves you. Most of the decisions circle around keeping the monies in the higher interest account (which is CPF-SA) at the moment to let it compound for the future.

Wishing you all the best to be a CPF Millionaire.

If you would like to benefit from CPF more, I have put together a free webinar to share my knowledge on it. Limited seats only. Join us with the link here.

 

Chengkok is a licensed Financial Services Consultant since 2012. He is an Investment and Critical Illness Specialist. Wealthdojo was created in 2019 to educate and debunk “free financial advice” that was given without context.  

Feel Free To Reach Out To Share Your Thoughts.

Contact: 94316449 (Whatsapp) chengkokoh@gmail.com (Email)
Telegram: Wealthdojo [Continuous Learning Channel]
Reviews: About Me

The views and opinions expressed in this publication are those of the author and do not reflect the official policy or position of any other agency, organisation, employer or company. Assumptions made in the analysis are not reflective of the position of any entity other than the author.

How Integrated Shield Plans Affect You (All Insurer Edition)

How Integrated Shield Plans Affect You (All Insurer Edition)

Our Integrated Shield Plan (ISP) affects you greatly. It affects whether you have a good medical coverage now. It affects whether you can have affordable healthcare in future. More importantly, it affects if you need to continue working to sustaining your premiums in future.

This is not an April Fool’s Joke. It is real. My readers would already have known about this since last year. If you are lost or do not have a financial consultant to update you on your ISP, the bold statement is a summary of the change in the ISP structure.

Existing ISP supplementary plans will have a co-payment structure.

This means that there won’t be a 100% coverage/reimbursement anymore. Customers will have to pay a XX% co-payment (depending on the terms and conditions of your policy). You can read about co-payment and how to plan for it here.

 

But First: Medishield Life Premiums Increase

How Integrated Shield Plans Affect You (All Insurer Edition)
How Integrated Shield Plans Affect You (All Insurer Edition)

Following the announcement of 21st Dec 2020 new release from the MOH, claim limits will increase. At the same time, there will be premium adjustments to support the rising number of claims and payouts as well as the benefit changes. You will see this reflected in your renewal because Medishield Life is a component of your ISP.

 

Integrated Shield Plan Changes (All Insurer Edition)

In Singapore, there are seven health insurance providers. Each of them have adjusted their premiums and benefits accordingly. You should be more interested in what your existing rider has changed to. Here is a summary for the 7 health insurer in no particular order. These are all public available information and I will be putting a link of each insurer here.

How Integrated Shield Plans Affect You (All Insurer Edition)
How Integrated Shield Plans Affect You (All Insurer Edition)

AIA Singapore

  1. Premium increase for HealthShield Gold Max A
  2. Premium increase for Max VitalHealth A rider
  3. Max Essential riders to be converted to riders with co-payment
    – Essential A convert to Max VitalCare
    – Essential A Saver convert to VitalHealth A with EOCB Booster
    – Essential B convert to VitalHealth B
    – Essential B Lite  convert to Vital Health B Lite
    – Essential C (no conversion but there will be premium reduction)

View the changes in AIA Singapore Shield Support here.

AXA Singapore

  1. Increase in Premiums for AXA Shield Plan A and Enhanced Care Plan A rider
  2. Existing Basic Care, General Care and Home Care riders will no longer be available. All of them will be switched to Enhanced Care Rider.

View the the Enhanced Care Rider.

AVIVA Singapore

  1. Premium reduction for MyHealthPlus rider (Option B-II and Option C-II) attached to Plan 1
  2. Premium reduction for MyHealthPlus rider (Option A, B and C) attached to Plan 1, 2 & 3.

View the MyHealthPlus here.

Great Eastern Singapore

  1. Premium changes for SupremeHealth P PlusA Plus and B Plus
  2. Premium/Benefit changes for TotalCare riders
  3. Premium increase for TotalCare Plus riders

View Great Eastern Enhancement here.

NTUC Singapore

  1. Premium reduction for Enhanced IncomeShield on Preferred, Advantage, Basic and Enhanced C plans.
  2. Premium reduction for Plus & Assist Riders on Preferred, Advantage and Basic plans.

View NTUC changes here.

Raffles Medical

Raffles shield was launched on 1st Aug 2018. Ministry of Health (MOH) directed insurers in March 2018 to stop offering 100% coverage plans so I believe their riders are already on a co-payment basis already.

 

Final Thoughts By Wealthdojo

I believe this will not be the first or the last change when it comes to medical cost. It is therefore, important to have a trusted advisor who communicates the changes in a timely manner and navigate your retirement accordingly. As a financial consultant, I believe that this communication is vital because we never know such treatment and the affordability will arise.

Wishing you the best in your day ahead.

 

Chengkok is a licensed Financial Services Consultant since 2012. He is an Investment and Critical Illness Specialist. Wealthdojo was created in 2019 to educate and debunk “free financial advice” that was given without context.  

Feel Free To Reach Out To Share Your Thoughts.

Contact: 94316449 (Whatsapp) chengkokoh@gmail.com (Email)
Telegram: Wealthdojo [Continuous Learning Channel]
Reviews: About Me

The views and opinions expressed in this publication are those of the author and do not reflect the official policy or position of any other agency, organisation, employer or company. Assumptions made in the analysis are not reflective of the position of any entity other than the author.

There were only two things certain in life Death and Taxes

How Much Is My Income Taxes [2021 Edition]

It is the tax season for 2021. If you had an income in 2020, filing of your income tax starts 1st March 2021. You will NEED to file it by 18 April 2021 (e-filing) or 15 April 2021 (paper filing). If you don’t, it could lead to a fine or even a court summon. Don’t say you have not been warned.

We don’t really talk about taxes in 6 Levels Wealth Karate Methodology. In a simple gist, taxes are bittersweet to me. On one hand, I don’t like to pay taxes as it is an expenses to me. On the other hand, if I pay higher taxes, it would mean that my income is higher! I’m just glad that in Singapore, we have a really attractive tax program and we pay significantly lesser taxes as compared to people in other countries. Without going too deep into that, here’s how how much to pay for your income taxes in 2021.

 

Do you need to pay taxes or not?

Yes. You only pay income taxes if your chargeable income is greater than $20,000. Some income are chargeable and some are not. Fun fact: your winning from your TOTO/4D is not a chargeable income. Check out the full list here.

If your chargeable income in 2020 is above $20,000, you will be taxed with the progressive income tax system. Singapore follows a progressive income tax system. This means that the higher your income, the more you pay in taxes. The resident tax rates are as follows.

How To Reduce My Income Taxes Resident Tax Rates
How To Reduce My Income Taxes Resident Tax Rates

However, this does not show the effective income taxes for your income. When I first saw this table, I thought that if I earn $80,000, my tax bracket would be 7% or $5,600. This is untrue.

How To Reduce My Income Taxes Effective Income Tax Rates
How To Reduce My Income Taxes Effective Income Tax Rates

If you are earning $80,000, you will be paying $3,350 in taxes which means my effective income tax rates are 4.19%. Personally, I think it is quite fair. With the same $80,000, you would be paying $23,571 or 29.46% effective income taxes in USA.

 

Is it automatic?

If you received a letter/SMS/form that tells you to file your income tax, you will have to log in and file it yourself. This sms below is one that I received from IRAS. Typically, most of my income have already be pre-filed as I’m a self-employed working with AIA.

Income Tax 2021 Filing
Income Tax 2021 Filing

 

If you received a letter/SMS/form that tells you NOT to file your income tax, you don’t have to do it. But please verify if your information is correct and accurate.

If you didn’t receive anything from IRAS, you will still need to file a tax return if your:

  • annual net business income exceeded $6,000, OR
  • annual income (inclusive of rental income) was more than $22,000 last year

 

Tax Deductibles

Since 2020 is over, you can’t really do much changes into your deductibles. You can start planning for 2021 instead. In Singapore, we have a list of deductibles given to encourage social and economic objectives such as filial piety, family formation and the advancement of skills.

Income – Deductibles = Chargeable Income

As mentioned above, you will pay taxes on your chargeable income. This means that deductibles will play a big role in the taxes you are paying.

IRAS has created a personal income relief checker to see how much deductible you are allowed. These deductible includes SRS Top Ups, CPF cash Top Ups, just to mention a few. There is a maximum of $80,000 tax reliefs.

 

Final thoughts by Wealthdojo

There were only two things certain in life Death and Taxes
There were only two things certain in life Death and Taxes

Co-incidentally, these two can be well managed by proper financial planning or using insurance tools to achieve your financial goals. This article is meant to be a general article on how to pay taxes in Singapore. If you would like to know more, just comment on this post or contact me and I would love to have a conversation with you on the above.

Stay healthy. Stay Safe and pay your taxes.

Thank you for your contribution to nation building.

 

Chengkok is a licensed Financial Services Consultant since 2012. He is an Investment and Critical Illness Specialist. Wealthdojo was created in 2019 to educate and debunk “free financial advice” that was given without context.  

Feel Free To Reach Out To Share Your Thoughts.

Contact: 94316449 (Whatsapp) chengkokoh@gmail.com (Email)
Telegram: Wealthdojo [Continuous Learning Channel]
Reviews: About Me

The views and opinions expressed in this publication are those of the author and do not reflect the official policy or position of any other agency, organisation, employer or company. Assumptions made in the analysis are not reflective of the position of any entity other than the author.

10 SRS Investments to Consider Especially if you are 40 and older Retirement

10 SRS Investments to Consider Especially if you are 40 and older

If you are reading this, you probably have an amount of money in your SRS account. As the interest in the SRS account is 0.05%, you are also probably thinking of investing that amount. In the 6 Levels Wealth Karate, one of the key pillars of your financial journey is building up your investment portfolio and that includes your SRS account.

If you are unsure what SRS is, please refer to comprehensive SRS guide that was written previously.

Start Here: The $1 SRS Strategy

Basic Knowledge: 5 things you need to know about SRS when you are 40 and older

Your SRS Overseas Retirement Guide: 3 things you need to know about SRS if you plan to leave Singapore

Today, we focus on the 10 Investments you can consider using your SRS.

(Disclaimer: We will be explaining each concept with a real life examples. Please note that, those are not buy/sell recommendations. The suitability of the investment vehicle depends on each individual. Please talk to a competent financial advisor for more details.)

 

Investment #1: Fixed Deposits

A fixed deposit is an investment vehicle that pays account holders a fixed interest in exchange for depositing a certain sum of money for a certain period of time. It is very popular among the older generation as it is virtually risk free as long as the bank doesn’t collapse. Even if it does, your deposits are still protected, up to $50,000, thanks to the Singapore Deposit Insurance Corporation.

I have pulled up an example to showcase fixed deposits. It is worth noticing that after the 13th month, the interest will become more significant. Also if you are putting your money for 6 months or less, the interest is 0.05% which is indifferent for you to not put into a fixed deposit anyway.

10 SRS Investments to Consider Especially if you are 40 and older fixed deposit
10 SRS Investments to Consider Especially if you are 40 and older fixed deposit

 

Investment #2/3/4: Singapore Government Securities

Singapore Government Securities are debt instruments that are fully backed by the Singapore Government. Singapore Government Securities includes Singapore Saving Bonds (SSB), SGS Bonds and also Treasury Bills.

For SSB and SGS Bonds, you will receive interest every 6 months. If we put the definition loosely, it means you are lending money to the Singapore Government to receive a interest.

For Treasury Bills, it does not issue interest/coupons. You will receive the face value at maturity. If we put the definition with an example loosely, you are paying $0.95 now to get $1.00 in a xxx time frame.

I have taken a screenshot of the detailed comparison of the 3 securities here. Do check out more information on the MAS Website.

DBS has also created an extremely useful step by step guide to help you in your purchase of the securities.

10 SRS Investments to Consider Especially if you are 40 and older Singapore Government Securities
10 SRS Investments to Consider Especially if you are 40 and older Singapore Government Securities

 

Investment #5: Bonds

Bonds are basically debt instruments as mentioned above. However, I have separated bonds with the above SSB/SGS bonds because bonds can issued by companies etc. In a simple nutshell, the better the credit rating of the bond issuer, the lower the returns (or the coupon rate).

There are 3 main ones that you can purchase. Firstly, individual bonds, Bond ETF Funds, and Bond Unit Trusts (more on ETF/Unit trust in a while).

A popular example of a bond is the Astra V PE Bonds Class A-1. It was popular because the bond was issued by Temasek Holding’s subsidiary, Azalea. It was offering 3.85% annual interest for it’s bonds and was 7.2x oversubscribed in 2019. In this bond, you can see their investment diversification on their website. (Again, this is not a recommendation)

10 SRS Investments to Consider Especially if you are 40 and older Astrea V Bonds
10 SRS Investments to Consider Especially if you are 40 and older Astrea V Bonds

 

Investment #6: Stocks

A stock (or equity) is a security that represents the ownership of a fraction of a corporation. Loosely define, you are a partial owner of the company when you purchase the company’s stock.

There are several methodologies that you can use to invest in stocks. Recently, the hottest topic around is whether Value Investing Is Dead Or Maybe Not. I have also written about a hidden gem in the Singapore Stock Exchange that might have short term capital appreciation in the next 6 months. If you are interested in banks, I have written about DBS business and opportunity.

The example I will be using is an evergreen stock in the Singapore Stock Exchange called Singtel. It is important to know what you are investing in. Most people only recognized Singtel for its’ mobile and data internet service, but do you know that >50% of their revenue comes from something else? Stock investing require greater skills and mental fortitude. I strongly encourage you to learn more about stock investing before dipping your toes into it.

PS: You can only invest in stocks listed in the Singapore Stock Exchange using your SRS.

10 SRS Investments to Consider Especially if you are 40 and older Singtel Business Revenue
10 SRS Investments to Consider Especially if you are 40 and older Singtel Business Revenue

 

Investment #7: Reits

Reits (real estate investment trusts) are the same as stocks except they invest only in real estate. They tend to have higher distribution yield as compared to stocks because of their consistent cashflow from rental. Similarly, you can only invest in a Reits that is listed in Singapore. At the end of 2019, Singapore has 35 REITs, six stapled trusts and two property trusts.

An example is the Mapletree Industrial Reits. Its principal investment strategy is to invest in a diversified portfolio of income-producing real estate used primarily for industrial purposes in Singapore and income-producing real estate used primarily as data centres worldwide beyond Singapore, as well as real estate-related assets.

As at 30 September 2020, MIT’s total assets under management was S$6.6 billion, which comprised 84 properties in Singapore and 27 properties in North America (including 13 data centres held through the joint venture with Mapletree Investments Pte Ltd). MIT’s property portfolio includes Data Centres, Hi-Tech Buildings, Business Park Buildings, Flatted Factories, Stack-up/Ramp-up Buildings and Light Industrial Buildings.

10 SRS Investments to Consider Especially if you are 40 and older Mapletree Industrial REITS
10 SRS Investments to Consider Especially if you are 40 and older Mapletree Industrial REITS

 

Investment #8: ETFs

ETFs are called exchanged traded funds. An ETF typically replicates a specific index (for example, the Straits Times Index or the Singapore Market). The main feature of an ETF is that it is passively managed and do not try to outperform the underlying index. They usually have lower fees and charges as compared to actively managed investment funds such as unit trust.

Currently, there are 39 ETFs listed in the Singapore Exchange.

One example is the SPDR® S&P 500® ETF Trust (S27). They are investing in the 500 companies in the S&P500. You can take a look at the top 10 holdings of this ETF.

10 SRS Investments to Consider Especially if you are 40 and older SPDR ETF

10 SRS Investments to Consider Especially if you are 40 and older SPDR ETF

 

Investment #9: Unit Trust

Unit Trust is a fund that invested in a portfolio of assets according to the fund’s stated investment objective and investment approach. It is usually more active than ETFs. Unit trust could be diverse because there could be infinite investment approaches in the world.

You could invest in a dividend fund, a growth strategy fund, a commodity fund, a growth strategy in emerging countries, a dividend strategy fund in a developed market (I think you get the point now), etc. Because unit trust is so broad, we will not be giving an example. I feel it is best to work with a financial advisor to discuss and find the most appropriate unit trust for you.

 

Investment #10: Single Premium Insurance Product

A single premium insurance are usually retirement/annuity/accumulation products. Not all insurance products can be bought using the SRS.

There are 2 strategies in general. One being a lump sum payout at maturity or a stream of income in the future, starting from a date of your choice. A portion of your investment returns are guaranteed as compared to investment #5/6/7/8/9. This appeals to those that are seeking a more conservative and steady income stream during retirement. There is also a possibility of bonuses that are non-guaranteed.

Please feel free to contact me to have more information on these.

PS: An article isn’t complete unless there is a photo of retirement with 2 loving elderly =)

10 SRS Investments to Consider Especially if you are 40 and older Retirement
10 SRS Investments to Consider Especially if you are 40 and older Retirement

 

Final thoughts by Wealthdojo

Whichever the financial vehicle that you are deciding, it is important to understand and know your risk profile, knowledge level, budget, income etc to make a good investment decision.

I wish you all the best in your investment. Do contribute to your SRS before 31 Dec if you wish to have tax benefits for your financial year.

 

Chengkok is a licensed Financial Services Consultant since 2012. He is an Investment and Critical Illness Specialist. Wealthdojo was created in 2019 to educate and debunk “free financial advice” that was given without context.  

Feel Free To Reach Out To Share Your Thoughts.

Contact: 94316449 (Whatsapp) chengkokoh@gmail.com (Email)
Telegram: Wealthdojo [Continuous Learning Channel]
Reviews: About Me

The views and opinions expressed in this publication are those of the author and do not reflect the official policy or position of any other agency, organisation, employer or company. Assumptions made in the analysis are not reflective of the position of any entity other than the author.