Josh Tan Jian Liang - Seedly
Josh Tan Jian Liang

I want to impact our society even more and inspire anyone including you to “take charge of your financial future”

Josh Tan Jian Liang

Co-founder https://theastuteparent.com at Promiseland Independent Pte Ltd

21Upvotes

About

I want to impact our society even more and inspire anyone including you to “take charge of your financial future”

Credentials

Co-founder https://theastuteparent.com at Promiseland Independent Pte Ltd

Josh Tan Jian Liang

Co-founder https://theastuteparent.com at Promiseland Independent Pte Ltd

21Upvotes
  • Answers (44)
  • Questions (0)
  • Reviews (0)

Family

Insurance

Hi Jean Michoud, An international healthcare plan with the maternity benefit can cover your costs with maternity after you've cleared the waiting period (typically 1year). For pregnancy related risk, it can be covered with a pregnancy plan. Manulife Readymummy is the latest offer. I have arranged it for my private clients on many occasions. To get a general overview, this post can help you, all the best and congrats! https://www.theastuteparent.com/2018/11/should-i-buy-pregnancy-insurance/

Savings

Lifestyle

Hi Raimi Jasman, Do you feel $10k is sufficient for emergencies? If you do then maybe that's sufficient enough to keep. $8k to splurge on travelling regionally does seem quite abit though, maybe you're staying quality hotels or something =) I've an alternative to suggest to you, something which I've posted on Seedly before. I'd recommend to reconsider if emergency savings is really a flawed concept. What if you want to seriously grow your wealth? Maybe an opportunity savings would help you more instead? Read more here, enjoy: https://www.theastuteparent.com/2019/03/emergency-fund-myth/

Insurance

Hi Desmond, I understand the confusion you have on early CI coverage and multiple CI coverage. There are many who buy a multiple CI coverage and a qualified adviser can help you on understanding it. I've some analysis on the best CI plans in the market, hope it helps https://www.theastuteparent.com/category/insurance-analysis/term-insurance/critical-illness/

Insurance

Family

Personal Accident (PA)

Hi there, You are right that an infant is mostly home bound mostly sleeping. Not jumping and climbing around which is a problem after year1. The pull to climb phase comes in 6-9months into growth and that' where accident risk starts to increase. Hence, there is no need for a PA plan from Day0 other than covering risk of HFMD. I've this post that answers with more details on what PA plans to buy for your child https://www.theastuteparent.com/2019/03/the-dos-and-donts-of-personal-accident-coverage-for-your-child/

Investments

Savings

Singapore Saving Bonds (SSB)

Hi there, SRS is for retirement buy SSB is for liquidity (anytime use). Many buy the Singapore Savings Bond for that reason only but at current rate of 1.6+% for the coming few years, it's not too ideal at current moment. If you would like to find out more on SSB, I've created this formula which is the WAG formula to help you understand it. https://www.youtube.com/watch?v=HDL88ewqSnM&

Investments

Savings

Retirement

Hi Linda, To get to this $1m in 30years plus with $1,000 seems doable based on some of the math done already for you. A diversified investment portfolio will do 4-6%pa and match that objective perfectively. I'd focus the answer instead on "what should you do" And it starts with reframing the approach $1,000/m for next 30years. - For the next 30years, the journey is not going to be linear. Your income will likely increase at some stage and decrease at some stage. - For the next 30years there will be major purchases made such as house and major changes such as a child or a sick parent. Hence, will the $1,000/m to reach $1m become a pure mathematical projection? What should you do? 1) Save more when you earn more. Spend your effort to upgrade and earn more. And then actively increase your invested amounts 2) Track your progress and plan to hit ahead of time because things happen. A prudent businessman checks his accounts at least every month if not every week. 3) Find out what really motivates you to hit the $1m mark and what you'd do to stay satisfied once you it that. Pin that up onto your cupboard or your desktop. I've an article that you may find interesting and it's on financial independence. I wish you all the best. https://www.theastuteparent.com/2019/04/financial-independence-fatfire/

CPF

SeedlyTV EP06

! Hi Anonymous, If you are young, prioritise the SRS contribution scheme because you too can invest long term with a strategy that delivers at least 4% p.a returns. If you are between the age of 50-55, your investment timeframe may be short. You may then prioritise the CPFSA top up scheme. Total CPF amounts above FRS can be cashed out at age 55 which may not be too far away. If you want flexibility to cash out, SRS offers more flexibility. However, you should re-examine if the retirement schemes are suitable for you in the first place. Some other things to note 1) You may contribute to both. Need not prioritise. But ensure your total reliefs are more than $80,000 2) Cap for RSTU if your CPFSA is at $176k To read further: https://www.theastuteparent.com/2017/10/tips-on-relief-using-srs-contribution-cpfsa-top-up-and-voluntary-cpf-contribution/ Hope it answered your question. Good luck
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Insurance

General

Hi Anonymous, There are different degrees of sleep apnea severity with some requiring CPAP devices. The score on your sleep test is crucial to the insurer. I don't know your condition yet but I've a similar case to share. Doctors did not say the sleep apnea was life threatening and surgery was recommended but not crucial. However, the insurer viewed otherwise and there was a 150% loading on the application. After careful considerations on costs, we did not proceed further on the application. To get further advice on your application, perhaps do a preliminary underwriting (which is a simple non-binding enquiry with insurer) with your sleep test score. If the feedback is good then we do an application. I've more insurance articles and can be reached here at https://www.facebook.com/TheAstuteParent/ . Alternatively consult any independent financial planner to consider applications with multiple insurers as loading on your policy can defer from insurer to insurer. Good luck.

General

AMA SG Budget Babe

The most common financial freedom goal is $1m. I guess most will reach there from the ages 40-55. ! But your question is the intention behind saving up. Financial independence is a concept where you don't need to work to support your lifestyle . That's a great reason to save up. With low job security these days, financial independence means less stress on paying off your bills. Maybe that's freedom and flexibility to live and work on your own terms. I can also share from previous polls, some want financial freedom to pursue artistic hobbies. Kind of like ending "required" work to make ends meet. More tips on financial freedom and FatFIRE (which is comfortable financial independence retire early) in this post click more to continue...
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CPF

Investments

Hi Anonymous, take a look at this. It shows that in 2015, 58% of members lost money with their CPF. BUT it also shows that in 2016, 78% of members made more than 2.5% ! What does this mean to you? 1) Investment has risk. You could lose. If you hate it, then stay safe with your CPF. 2) Investments need time to perform. One year you lose the next few you win. On a diversified approach, this is just to describe the journey. If you're now clear about whether it suits you and want to start, look to invest only the amounts above $20,000 for your CPFOA. I've a further article on a diversified tool to start your CPF investment journey https://www.theastuteparent.com/2018/07/why-first-state-bridge-is-a-good-fund-to-start-investing-your-cpf/
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