LGBT person here. Any financial tips? (i.e housing, children etc)?

2 years 1 month ago... I hope I'm not too late.

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Glad to hear that housing is not much of an issue! Financial wised, planning would be much different but dont differ much. If you are planning to have kids in Singapore, it have been proven doable, but there will be extensice planning, not just financially, but also mentally and environmentally (if you know what I mean).

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Follow the rule of thumb;

• 3-6 mths worth of expenses saved aside
• Death & TPD sum assured : 9x annual income
• CI : 4X annual Income, ECI capped at $300K-$400K

(15-20% of your annual income for Insurance protection)

(Invest at least 10%-20% of your annual income for retirement and other financial goals i.e car/travel/wedding)

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If you have a significant other whom you deem is The One add them to your Will, nomination.

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I know of a couple, one brought a Condo, the other brought a HDB, they rented our their condo and lives together in the HDB. Their concern was, in the event of old age, if assisted living care is required, they can sell the condo without having to wait for the cooling period of 15 months, and having to rent a place within the waiting period, till they move into assisted living care - somewhere along these lines. Hey, I'm not a property agent. But thats fruit for thought.

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We all just want to live our own lives yeah? Financial Literacy is for all :)

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The main concern would probably be workplace (if you come out) and/or children. I dont think there is any financial bloggers in SG who openly express they are in the LGBT community. Perhaps you can look at this list of financial bloggers (not SG based) and reference from there https://debtfreeguys.com/lgbtq-personal-finance...