Anonymous
Investment 900K (cash)
Bank saving 75K
CPF. 530K (partially invested)
Debt - 750K (mortgage, car, equity loan)
Stay in a mortgaged condo (fully covered by OA).
With insurance (health, critical illness, life..)
Debt repayment can fully cover by investment (cash + CPF) income.
Currently working, with a net savings of about 3K (salary + Dividend/interest)
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Pang Zhe Liang
18 Jan 2020
Fee-Based Financial Advisory Manager at Financial Alliance Pte Ltd (IFA Firm)
Firstly, one of the most important things to do is to have a complete understanding of your existing insurance portfolio. Through this process, it allows us to understand the coverage that we have, any financial gap, as well as to find out whether we are overpaying for our insurance policies. I have highlighted the rest of the reasons here: https://www.blog.pzl.sg/why-every-client-needs-...
Next, we need to have a complete understanding on our cashflow. Through this process, we will understand our earning ability and spending habit. Here is a guide to help you: https://www.blog.pzl.sg/understanding-your-pers...
Once we have a complete understanding on your existing insurance portfolio and your cashflow, we will perform an analysis to find out whether your are over-leveraged for your loans, be it for your mortgage or for your investment. The same goes for your investment portfolio - are you overexposed to unnecessary risk without generating significant return?
Furthermore, it will be important to ensure that you have sufficient life insurance coverage to cover your loans and expenses for your future. In most cases, I will prefer this over liquidating your investment to cover the debts - financial leverage with better rates.
Now, we will need to understand further about you and your goals and see how we can optimise your wealth to help you reach your goals.
Here is everything about me and what I do best.
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Hariz Arthur Maloy
18 Jan 2020
Independent Financial Advisor at Promiseland Independent
Hey Anon, I would need to know how your 900k is deployed to make a comment on asset allocation. Beca...
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Looks like you can FIRE before 55 yo, as long you dont get married!