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

1037Upvotes

About

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

Credentials

Independent Financial Advisor at Promiseland Independent

Hariz Arthur Maloy

Top Contributor

Independent Financial Advisor at Promiseland Independent

1037Upvotes
  • Answers (890)
  • Questions (4)
  • Reviews (1)

Insurance

Hospitalisation Insurance (H&S)

Hi Anon, you can look at the NTUC Silver series of plans as well as considering upgrading her Eldershield to a supplement plan to provide a lifetime payout in the event of disability for long term care costs. You may also want to consider a lifetime guaranteed annuity policy to provide her with a stream of income for life, there are some policies that would double the payout in the event of disability as well.

Investments

Savings

Bank Account

Stocks Discussion

I'd skip the STI and at max invest 10% in property as an asset class. It would be more beneficial for you to invest in a dividend paying, globally diversified portfolio that matches your risk profile. A moderately Conservative portfolio would be about 40% in Equities, 45% Fixed Income, 10% Property, 5% Commodity (Gold). That's how I'd structure the portfolio. But if I may, if this is all the money in your bank account, you may want to keep some aside as an emergency fund. Usually 6 months of income would be sufficient. Only invest anything in excess of this.

Investments

In my opinion. 0. You don't have to invest in Singapore companies just because we live here. In fact, I might probably avoid most of them and go for a broad global portfolio. Home bias is definitely a thing all investors face. Because we're familiar with the companies, and we may use or see them daily. But an investment is an investment. As long as you manage your risk and invest in strong companies, it doesn't matter where they're based.

Insurance

Too much insurance coverage would probably be above 30 X Your Annual Income or premiums more than 40% your annual income (only for protection plans) Or policies that you can only claim from one source (usually on a reimbursement process) but have multiples of. If you think you're either overpaying or having too much, speak to an advisor and do an insurance summary and review.

Investments

Stocks Discussion

If you're worried about entering at too high of a peak, then you might want to invest a quarter of your money per quarter. Transaction costs of a 7.5k investment should be low enough to be negligible. It'll give you some confidence that you are dipping your feet, but not too shallow to not feel the water, and not deep enough for you to drown if markets go south. All the best!

Stashaway

ETF

Robo-Advisors

Investments

Yeah pretty much. You are passing money to the financial advisor and letting them make the decisions of where to invest in your money according to your risk profile. You can choose to withdraw money from the platform anytime but not choose which specific underlying holding to sell or buy, that's their decision to make. So it would be best you try not to look at your account too often. And trust the investment methodology the financial advisor has which got you to trust them with your money in the first place.

Insurance

Critical Illness (CI)

Yes, there are. NTUC Income has a range of senior-specific products to cover for personal accidents, senior-specific diseases, as well as critical illnesses. You can check them out here https://www.income.com.sg/life-insurance/silver-protect and https://www.income.com.sg/life-insurance/silver-secure NTUC Income is one of the dozen insurers I distribute. If you'd like quotes on these products and a further explanation of how they would benefit seniors and their families, do drop me a message on Facebook or email me at [email protected]

Investments

STI ETF

DBS

Well, they are extremely different. And you can't compare them. DigiPortfolio is a globally diversified portfolio built with multiple ETFs to achieve that exposure. Based on your risk profile and investment horizon, you would be recommended a portfolio with asset allocation in both stocks and bonds. The STI ETF is just one ETF that invests in the largest 30 stocks in Singapore. So think of it this way. DigiPortfolio is like a full meal with lots of different meats and veggies. Sourced from all over the world. STI ETF is just one chicken wing. You can have a whole plate of chicken wings sure, but that's all you're eating. And all the chicken from the chicken wings was bred in just one country. Whether or not it's going to be very nice, depends.

Retirement

Investments

Family

The risk profile of someone close to retiring would be quite conservative. Usually having at max a 20% exposure to equities in their portfolio with the rest split between fixed income instruments like bonds, annuities, as well as a mixture of cash instruments like fixed deposits and cash in the bank. So a split between these asset classes and tools could be beneficial. Wealth preservation and low volatility would be key here. However, even before considering what products to buy, make sure that budgeting is a core concept they have to adhere to. No point having money in different places when you're just spending everything within 5 years. Prepare to live till 100 and make sure that you don't withdraw too much money too quickly while making sure their assets adjust for inflation at the very least.

Insurance

Family

Hospitalisation Insurance (H&S)

Healthcare

Hey Anon! There are quite a few IFAs here on the Seedly QnA but if you'd like to look at an unbiased comparison, MOH has already done one. https://www.moh.gov.sg/docs/librariesprovider5/integrated-shield-plans-documents/april-2019/comparison-of-pvt-hosp-ips-(1-april-2019)-v2.pdf Usually for seniors, however, I'd tend to recommend NTUC Income Shield or Raffles Shield due to premiums and underwriting. :)
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