Income Protection SG

Thinking of buying a car? Do these calculations first!

(All car related expenses should be less than 25% of your take-home salary, for it to considered a comfortable purchase).

•Draw up a budget before making a decision.
•Ensure that all expenses are listed down realistically.
•If take-home income is more than monthly expenses, ask if it is enough to pay for the car instalment and all auxiliary expenses.
•Do not underestimate the maintenance cost of having a car.
•Recognise that having a car may mean not having enough money left for other financial goals, such as setting up an emergency fund and holidays.
•There is often still a car loan shortfall even after the car has been sold off.
•Chances are, by owning a car, other expenses may also go up.

The cost of owning a car in Singapore is still considered a luxury, not a necessity. If you really need a car for your job/family situation, make sure you consider all options first.

Find out more financial tips on www.incomeprotection.sg!

Some debtors say maintaining cars puts them in debt The crippling debt that came with buying his car made owning one an irony - he had a car but could not afford to drive it. Adam (not his real name, as he spoke on condition of anonymity), maxed out at least 12 credit cards and six credit lines, chalking up about $50,000 in debt - just to pay for the...

With the aggressive bidding by Uber's Lion City and lifting of car loan restrictions by MAS, it looks like COE prices will stay stagnant and won't be coming down so soon.

But hey, lower upfront downpayment! Slightly easier to manage your cashflow when purchasing a new car.

http://www.straitstimes.com/singapore/transport/mas-lifts-car-loan-restrictions

MAS lifts car loan restrictions SINGAPORE - The Monetary Authority of Singapore (MAS ) has eased car loan guidelines, just three years after instituting them.. Read more at straitstimes.com.

Article first appeared on Channel News Asia on 15/02/16. One in three working Singapore adults are not planning for their retirement, according to a survey by Nielsen on Monday (Feb 15). Of this group, 40 per cent say they have not done so due to a lack of understanding of the available options. Another 25 per cent say they do not know how much is needed and when to start planning. [ 283 more words. ]

http://incomeprotection.sg/two-thirds-of-retirees-dont-expect-their-savings-to-last/

Two-thirds of Retirees Don’t Expect Their Savings to Last

First time in my life someone asked me this question just by looking at my handwritten note: "Are you a left-hander?"

I'm like, whoa! My potential client has already read me before I can even read him.

I've been trained to write and do tasks using my right hand since young, but not many people know that I can also play badminton & bowling using my left hand without any problems.

This potential client of mine is someone whom I respect. He's a businessman in his 60s, and his house, office & car are all fully paid for. When making life decisions, he makes sure his wife & 2 children are involved as well.

In his own words: "If I die tmr, I don't want my family to fight for my wealth. Each of them already know what they're inheriting in the Will. And I've already taught them what to do with the money, not to just leave it in the bank and lose the value. No point I build an empire for them and they make it crumble once I'm no longer around. If I fall sick, they have the Lasting Power of Attorney to make decisions on my behalf, whether to keep me alive or let me die. Medical expenses in Singapore is not cheap".

The appointment became more of me learning from his experience, instead of just him learning from my knowledge. I really admire people like him who has already made their own plans for the future.

The best learning point he gave me was: "The youngsters now all buy condo and expensive property for themselves, thinking it's an investment. 30 years down the road, who's going to buy the house from you? The population of Singaporeans are shrinking. Don't let the government think for you. You need to think for yourself".

I'm positive that I've made a proper good job in planning for his retirement finances, so with God's Willing he'll decide to sign and be my client!


www.incomeprotection.sg

Income Protection SG Your Income Protection Specialist

It's a good time to invest in the UK Pound and perhaps plan a vacation to London!

£1 = S$1.9853 at about 6pm, Singapore time, the lowest since Nov 13, 2013, when it hit a low of S$1.9822.

UK pound hits 2-year low against Singdollar SINGAPORE — The British pound fell to a 2-year low against the Singapore dollar on Monday (Feb 22) as concern grew that Britain would quit the European Union after influential London Mayor Boris Johnson threw his weight behind the exit campaign. The move posed a direct challenge to Prime Minister Da…

What is Silver and Gold Investing Silver and gold investing is buying gold and silver as a means of obtaining some profit, but most importantly, hedging your savings ie a way of reducing the chances of your savings worth from becoming less and less due to inflation. In other words, instead of saving in cash, you are converting your cash to gold and silver and keeping your money in that form, in an attempt to beat inflation. [ 352 more words. ]

http://incomeprotection.sg/investing-in-gold-silver-101/

Investing in Gold & Silver 101 What is Silver and Gold InvestingSilver and gold investing is buying gold and silver as a means of obtaining some profit, but most importantly, hedging your savings ie a way of reducing the chances…

"I kind of got swept up in the whole once in a lifetime honeymoon thing, and we wound up spending a couple thousand more than what we had initially wanted to..."

What are some ways you can avoid financial regret on your wedding or honeymoon?

Share your thoughts in the comments below. We would love to read your thoughts.

IncomeProtection.SG

Real Bride Confess Their Biggest Honeymoon Regrets Before you book your dream trip, take a peek at these real bride honeymoon regrets.

Time Horizon vs Risk Appetite vs Affordability.

Which investment is more suitable for you?

Make an appointment with us to assist your financial growth.
www.incomeprotection.sg

Singapore Savings Bonds versus fixed and time deposits Following the launch of the Singapore Savings Bonds, banks have responded by making their fixed and time deposit offerings more attractive to retail customers. But which one should investors put money into?

ABOUT BANKERS (Morning Laughter)

If you owe the bank $100, that's your problem. If you owe the bank $100m, that's the bank's problem.
----------------
Hospitals report that the hearts of bankers are in strong demand by transplant patients, because they’ve never been used.
----------------
Bankers never die...They just lose interest.
----------------

Excellent infographics by Business Times defending the MAS's decision not to weaken the Singapore dollar to make exports cheaper to boost growth. Explains the MAS decision simply and effectively.

http://www.businesstimes.com.sg/infographics/poor-exchange

Poor exchange On Oct 14, the Monetary Authority of Singapore (MAS) ignored calls to aggressively weaken the Singapore dollar to make exports cheaper and boost growth. This is especially since inflation is not a major issue now. Read more at The Business Times.

DUIT is an integral aspect in the life of a . Agreed? :)