Hariz Arthur Maloy - Seedly
 
Hariz Arthur Maloy

Helping S'poreans in their 40s optimise their CPF and prepare for retirement by providing a guaranteed source of income for life.

Hariz Arthur Maloy

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Independent Financial Advisor at Promiseland Independent

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Helping S'poreans in their 40s optimise their CPF and prepare for retirement by providing a guaranteed source of income for life.

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Independent Financial Advisor at Promiseland Independent

Hariz Arthur Maloy

Top Contributor

Independent Financial Advisor at Promiseland Independent

  • Answers (1164)
  • Questions (4)
  • Reviews (2)

Insurance

Early Critical Illness (ECI)

Whole Life Insurance

! Hey Anon, coming from an IFA, I'm able to compare products across multiple insurers and surprisingly, some insurers vary widely for premiums for exactly the same product. AIA in this example is 50-60% more expensive than the median cost. A 35 Male, I'm assuming healthy and doesn't smoke would pay 2000/yr for 20 years for a 100k (50k X 2) Whole Life With ECI.
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Insurance

Hospitalisation Insurance (H&S)

https://www.moh.gov.sg/medishield-life/about-integrated-shield-plans/comparison-of-integrated-shield-plans Most of what you need to compare would be stated here. I would suggest considering AIA and AXA. It's usually my recommendation for young working adults.

Insurance

Congrats on your employment Anon. The absolute number one priority would be a hospitalization and surgical policy. In Singapore we have the Integrated Shield Plan. Get that with a rider to cover co insurance and deductibles. Next would be income protection. This would be the form of a Critical Illness policy. Get coverage equivalent to 5 X your Annual income. Next would be coverage in the event of death if you have dependents or planning to have dependents in the future. Get 10 X your Annual Income as coverage. Do note that Great Eastern's Great Wealth Multiplier is a perpetual endowment plan and is not a tool for protection needs. Treat that as an investment purchase.

Insurance

Whole Life Insurance

China Taiping

In fact Anon, you can extend the Guaranteed Benefit for life after 86 and just pay cost of insurance on net sum at risk as well. Truly having the multiplier last for whole of life. Plus, it's currently the cheapest Whole Life policy available with the latest and most updated Early CI benefits attached.

Stocks Discussion

FSM INVEST EXPO 2020

You can do some research here Gabriel. http://www.fundsingapore.com/screener/basicsearch Sort by date launched or cumulative total performance since inception. This fund launched in 1984 has had total performance of 3000+% since inception http://www.fundsingapore.com/fund/fundoverview?id=60000215

FSM INVEST EXPO 2020

Stocks Discussion

Active management costs money. Distribution costs money. If you want active management and advice, you have to pay for it. If not, DIY and buy passive index trackers or individual securities.

Insurance

Investments

Savings

Retirement

Term Life Insurance

Well it depends on what and how much they cover my friend. You can follow this rule of thumb. Get 10 X Annual Income in the event of death and 5 X Annual Income as income protection in the event of Critical Illness. If you follow these basic guidelines, you shouldn't be spending more than 10% of your income as premium. So if you make 50k/yr. You should have 500k as death cover and 250k as CI cover, and this shouldn't cost you more than 5k/yr.

Investments

CPF SA

CPF

No you shouldn't. CPF is not a bond. It doesn't give you any correlation to your equity portfolio and doesn't behave like a bond. CPF should be treated as a separate resource because you also can't rebalance CPF.

Savings

Bank Account

Education

If you're above 18 and below, you should open a Standard Chartered Jumpstart account. 2% on your first 20k with no frills. No minimum balance, nothing.

ETF

STI ETF

Investments

Stocks Discussion

FSM INVEST EXPO 2020

Just diverisify globally. There's no reason to overweight the Singapore Equity Market at all. Buy the planet in equal weights to their market cap and you get the returns of the world. !
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