Family

AIA Mum2Baby Protect is a bundle of the wholelife plan AIA Guaranteed Protect Plus II (GPP) together with maternity coverage. 1) The AIA Mum2Baby plan allows you to transfer the life coverage from you to baby. Includes also the early critical illness coverage. 2) You can guarantee life insurance coverage for your child after birth. 3) This is very important as I’ve seen children born with conditions like heart murmur that complicate any insurance coverage at birth. For IVF/IUI/ICI and ICS pregnancies, there is no extra premium needed and this can save you quite a bit. Once again, there’s no such thing as the best plan as there’s only the more suitable ones! (: https://www.aia.com.sg/content/dam/sg/en/docs/product_brochures/medical-protection/aia-mum2baby-choices-brochure.pdf

I used to gave my mom every month $500-$800 cash and pay her phone bills and some other bills. She has a full time job and long story short, I found out that she’s not been saving up the money I gave to her and instead spending on unnecessary stuffs. Now I stop giving her the cash and instead I use the money to top up her Special Account. Calculate how much more to hit the minimum sum when she retire and top up every month accordingly. I told her I will start to give her cash again when her CPF start paying out the monthly Retirement Sum. This way you don’t need to worry she anyhow spend and no money to retire, all burden falls on you.

Curious - what is a long term date?

Your question is actually rather vaguely worded and if you would be clearer with what you are looking for, it will be easier to get the right advice. Currently you have stated a few points with regards to your life situation, which is great for a start, but I am not sure exactly what kind of advice you are looking for? A number of things can happen in the next 30 years. Planning for potential future children expenses? Planning for retirement? Planning to ensure that you can service your car/HDB loans? Budgeting to ensure your parents are also taken care of financially? These are the potential issues that will probably be running in your mind now, and if you can pick the most critical issues that you wish to plan for, I would be able to provide more directed and useful advice. On the surface, a 4 room BTO flat should not stretch your finances, but if you are looking at adding a car to the mix (alongside the costs of raising children), you'll want to ensure you budget properly. Also, don't forget to take care of your own retirement as well. You will be better suited to defensive investments like annuities for that if you cannot stomach risk.

A quick health check up prior to starting your planning would mean that you need to 1) Ensure sufficient death coverage to take care of liabilities and critical illness coverage to ensure that funds are available to ensure your income stream doesn't stop due to illnesses. 2) Have a hospitalization plan to take care of hospital bills 3) Ensure your long term care coverage upgraded to improve the payout and payout duration 4) Have an emergency fund of at least a year of expenses for unexpected events If these points are in place, planning for your kids and retirement has actually no right or wrong answer. The market is awash in options but I will highlight a number of options that are commonly undertaken by my clients with similar situations as you, based on their preferences and risk appetite: For kids: - Conservative but guaranteed endowments to grow funds safely and prepare for the tuition bill - A combined Bond/Equity UT portfolio to grow capital - Defensive equities to have cash flow for future uni expenses - Some parents get a Whole Life critical illness plan for their kids as a gift, as premiums are drastically lower when they are younger. This shouldn't be at the expense of their education or your own retirement however For your own retirement: - A balanced portfolio of guaranteed and variable assets to provide room for growth with a safety net - These can include an equity/bond portfolio, ETFs, UTs, for both capital gain, and income generation - Annuities to preserve capital and convert your money into guaranteed income streams when you retire, immune to market shock - CPF SA and SRS top ups to maximise tax savings and let compounding (in the case of SA) work for you When you've build your wealth, remember that the best asset is pure income. When you have to manage assets in retirement (e.g. watch over your stock and UT portfolio), these assets can become somewhat of a liability. So plan to slowly convert your variable income flows into guaranteed income through the course of your life cycle. Ultimately, weigh all options and decide what works best for you. The best strategy will be a mixture of what suits you, and what you are comfortable with.

Yes, or maybe something health related eg. a hamper from Eu Yan Sang? It is well packaged, and also practical.

Hi you can only apply for a new BTO after the 5 years MOP of your Resale Flat. Once you have completed the 5 years MOP, you can then proceed to apply for BTO Balloting. If you manage to successfully ballot for a new BTO, upon receiving keys to it, you will have 6 months to sell away your Resale Flat. All of the above is assuming that the Resale Flat is your first subsidized housing.

Do bear in mind that if you commit to a short term endowment plan, you absolutely cannot surrender it until the the policy matures, or you will lose money. 3 or 5 years, while not extremely long, is still a period whether you will have no access to this money, and hence you need to consider if you will have enough emergency funds to meet your needs during this period. I'd personally opt for the 3 year one to give myself more flexibility, unless I absolutely can live with not having access to the money for 5 years.

Check through the historical purchase price and capital injected. Determine average price of holdings vs current market peice. Determine how much dividend you received historically. Then you will know if you are in profit or loss.

It won't affect your credit score. Personally I keep multiple bank accounts as it 1. Makes it easy to segregate my money so I only touch what is in my spending account 2. DBS ATMs often have long queues so I just draw money at OCBC ATMs which usually have nobody and then ibank money between my own accounts lol