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Leslie Koh

Helping people achieve financial security by building a thriving community of consultants committed to doing the right things!

Leslie Koh

Associate Financial Services Manager at Prudential Assurance Company Singapore

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Helping people achieve financial security by building a thriving community of consultants committed to doing the right things!

Credentials

Associate Financial Services Manager at Prudential Assurance Company Singapore

Leslie Koh

Associate Financial Services Manager at Prudential Assurance Company Singapore

  • Answers (107)
  • Questions (1)
  • Reviews (1)

Wedding

Family

SG Budget Babe

Normally, the parents will do the talking while the couple take down notes. The negotiations are usually done after the meeting to avoid awkward moments. A few things to take note: 1) Dowry - an amount that the male side have to give to “buy” the daughter during 过大礼. And the in-laws are supposed to return part of it to show that they are generous. Some in-laws will ask for a certain figure while some will say up to you. 2) 过大礼 - what items do the in-laws want, you’re supposed to bring pig trotters as well as wine/hard liquor (usually Martell) amongst other things. Again, some in-laws might have some requirements. If they don’t, ask them if they prefer roasted pig or canned pig trotters and do they prefer wine or hard liquor. 3) 四点金 - this is given from the guy’s parents to the bride during 过大礼. What I know is, generally in-laws don’t have any requirements because it’s from the guy’s side given to the bride. Depending on how traditional are the parents, some might not give during 过大礼 and give during the tea ceremony. 4) Tables - as a gesture, the guy side have to buy tables for the lady’s side. This is the part where the in-law will “name their price” on how many tables. That’s where the meeting will be more intense. My advice, is to have a discussion with your future wife on what kind of wedding you guys want first. Then preamp the parents on what are their requirements before meeting, so that it’s more or less “negotiated” before meeting. Focus on the meeting to be a joyous occasion where both families meet and eat and not just to discuss how much the daughter is worth and how much the guy has to pay. Lastly, don’t splurge on the wedding. If you have attended a lot of weddings, you will see your friends being so tired and worn out just for one day. Pick something intimate, invite the “necessary” guests and enjoy the wedding. The money saved can be put into greater use like housing or honeymoon.

Savings

Entrepreneurship

Career

Lifestyle

Education

Don’t get caught up with the idea of passive income. In order to get good passive income, there are a lot of work to be done. Sometimes, getting an active income might be easier. Passive income is a long game that you have to play to get paid so focus on acquiring good skillsets like video editing, copywriting.

Insurance

Term Life Insurance

Whole Life Insurance

Investments

There are term plans where the commissions are higher than life policies. Ultimately it boils down to the need of the individual, some prefer to sell life plans because of the cash value compared to term plans while others prefer to sell term as they believe in “buy term invest the rest” strategy. Ask the agent to explain the basis of their recommendation to you on why they recommend this product and why not the other.

Savings

SG Budget Babe

Family

Retirement

I would suggest 20% as the max. The minimum should be an amount that covers the monthly family expenses, while the remaining can be set aside as an emergency fund for them.

CPF SA

Income Tax

Hi! The amount will be $7,000 for your own account and another $7,000 for your parents or spouse (provided if the spouse is not earning any income).

Savings

I would recommend 3 months of your salary as spare cash on top of your emergency fund. In the event, if you fire your boss or your boss fire you, you have 3 months while you find another job.

Family

CPF

Retirement

CPF SA

I would agree with Wilson's answer and I would give the same answer. I would prioritize my retirement first, so my children would not be a sandwich generation. Nowadays, cooperations value skillsets over qualifications and I personally feel the more we provide for our children, the less "hungry" they are. It's good to plan for them but we should plan for ourselves first.

M1 Broadband

Personally, I don't think you need a mesh setup. My parent's place is a 4-NG HDB flat which is bigger than the current 5-room flat and you can access internet at any spot of the house. Having said that, certain spots will get slower connections but I think you will be fine.

Rent

Property

Investments

Firstly, is the HDB paid off? Secondly, calculate your rental yield, which you can refer to this website: https://www.99.co/blog/singapore/calculate-rental-yield-singapore-property/ Thirdly, do you have access to any other instruments that can provide better and more stable returns that your rental yield?

CPF

CPF SA

Retirement

As what Haris has shared, the interest from MA will spill over to SA once the Basic Healthcare Sum is reached.
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