A common aim of financial planning is to grow your wealth. Endowment plans are one of the financial products aimed at helping you do that, and they’re considered low risk too, because you’re guaranteed to get back the amount of money invested into the product.

When you purchase an endowment plan, you commit to a predetermined period of typically between 3 and 25 years, where you’re required to stay invested in the plan. In most setups, the plan will earn you an interest of 0.5% — 4% per annum.

But unlike growing your money with stocks, ETFs, mutual funds and…

Updated 25 March 2021

You might have heard from your insurer or read on the grapevine that insurers are going to require people on the Integrated Shield Plan to pay for part of their hospital bills soon. That is to say, they’ll stop footing the entire bill in future.

The Integrated Shield Plan is a supplement to the government’s MediShield Life scheme, and seven providers in Singapore offer it.

Some insurers like NTUC Income, AXA and Prudential have announced that there will now be a co-pay component of at least 5 percent of their hospital bills.

The good news is…

You might have heard friends talking about annuity insurance policies in their retirement planning. There are different types available, and several factors to consider before you figure out if this is right for you.

What is an annuity plan?

An annuity is a type of insurance policy. These plans provide a regular stream of income for as long as you live, or for a stated period of time, usually until at least the age of 100.

The monthly or annual income you get can be made up of guaranteed and/or non-guaranteed components. An immediate annuity can begin income-for-life payments within a year of the purchase…

Funds are a type of investment tool that pools money from various people, and is placed into a diversified basket of investment assets such as Stocks, REITs, Bonds and Short-term Debts.

The fund is managed by a team of financial professionals who generate a regular income in the form of dividends or a profit as the assets in the funds increase in overall value.

Benefits of investing in funds:

  • Low cost (compared to other forms of investments such as property)
  • Low minimum capital requirements
  • Diversified investments with a budget
  • Highly liquid (you can typically sell your investments within 3 days)

Success may look different to each person but when we come to the core of it, success is ultimately a future that we want to attain.

What we have to realise is that the journey to success requires a shift in our mindsets because the greatest hindrance to success are the limiting thoughts that occupy our minds and derail us from living out our best lives!

Here are some negative thoughts that you should start bidding farewell to.

I can only have a career by doing something that I love

It would be great if the combination of passion and livelihood overlapped perfectly. But this scenario may not be the case for…

Dollar-cost averaging (DCA) is an investment strategy of allocating an amount of money at a regular interval (e.g. monthly or quarterly), instead of investing the full sum of money at one time.

The strategy can also be used over a short period of less than a year, or even for a longer term goal like retirement. DCA is generally used for more volatile investment asset classes like stocks and equity funds.

There isn’t a holy grail investment strategy that would suit every financial situation. To help you understand the basics of DCA, in this article we will compare the differences…

For most of us, being home all day long, working at the same place we sleep is not something we’re accustomed to. Before you spiral into a mid-life crisis, or become unmotivated to do anything, here are some things you can achieve during this lockdown period.

1. Update Your Resume and Professional Profiles

This is probably right on the top of our “things I procrastinate to do” list. For most people, resumes are only updated right when we are looking to find a new job. I can understand why this is the case, since there’s no other use for a resume apart from that very reason. …

Living on credit may not always be a bad thing, especially if it’s well managed and contributes to growing your assets. But unmanaged debt can easily creep in and become a norm we are so used to that we easily add to it with uncontrollable spending.

Ironically, we’re often trying to live a life with financial freedom but it starts to seem unattainable with the huge debt in our names.

The first step isn’t to get into more bad debt by investing. There’s honestly no point in investing to yield 5–10% return per year through sustainable investment tools when your…

Being a social media influencer and getting paid to be fabulous, isn’t for everyone. But don’t worry, there are many other ways to earn that extra cash during COVID while being eco-friendly!

Sell your preloved clothes and shoes

We honestly own so much more than we really need. While you clear out the clutter, why not make some money in the process? If you have an item that’s still in good condition but you don’t use much, you can consider selling them online through the many platforms out there.

Whip out that shirt you hardly ever use, iron it, put it on a hanger and snap…

Everyone has goals, and financial goals definitely take up a big bulk of them. Yet most of us have lofty financial dreams that involve money that drops from the sky. Purchases like the downpayment for real estate, a car or even a post graduation trip occupy our minds.

But the first step to achieving these goals is to have a plan. So let’s break it down to simple steps!

1. Figure out how much your goal is

$1 million please

The common mistake that people have when it comes to goal setting is forgetting to quantify it. Whether it’s your dream holiday, the latest laptop that got released…

Cherie Wang - Planner Bee

Founder at Planner Bee. Simplifying financial planning for the masses. Providing educated guidance to help build a plan toward a better financial life.

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