You’re young. You just graduated from poly. You have no insurance. Future seems smooth. Then you’ve just been diagnosed with an organ failure. How would you do your financial planning? - Seedly
 

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Asked by Anonymous

Asked on 11 Oct 2018

You’re young. You just graduated from poly. You have no insurance. Future seems smooth. Then you’ve just been diagnosed with an organ failure. How would you do your financial planning?

Please don’t mention anything related to subsidies. I’m a risk taker and want to challenge myself on my financial goals. I want to make my life more exciting than going the easy path of subsidies. After all, we live our life to fulfill our purpose before we close our books and rest :)

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Nicholas Chan
Nicholas Chan
Level 5. Genius
Answered on 13 Oct 2018

Get an organ transplant & get insurance with moratorium underwriting to ensure u are are not excluded from possible future illness.

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  • ETF
  • Blue chip stocks like singtel

constant yearly pay outs that are stable to help supplement the medical fees

Live life to to the fullest, tell the people that you love how you feel.

Do do the things you want and without regrets

All the best !

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HC Tang
HC Tang, Financial Enthusiast, Budgeting at The Society
Level 8. Wizard
Answered on 12 Oct 2018

Hi

I believe you want to live like everyone else and take some risk too, then the solutions will be what Seedly shared with everyone else for a start:

https://blog.seedly.sg/read-me-first-your-personal-finance-journey-starts-with-this-article/

Except the insurance part you can just ignore and depends on Medishield basic coverage. Just need to park some funds for medical bills monthly and then you can go on and take higher risk if you want to.

Go live life as you want it, go travel, try bungie jump, sky diving etc. Do explain to your family that this is what you want and if you need to do anything to take care of them then do plan for it. Otherwise, just go LIVE LIFE as if everyday is the last. So that you'll have no regrets.

All the best :)

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Elsa Goh
Elsa Goh
Level 5. Genius
Answered on 14 Oct 2018

Do apply for whatever financial aid you qualify for. I want my tax dollars to go to people who really need it instead of sitting in an account somewhere untouched. Anw if I am not wrong, our philosophy here is to maximise whatever hacks we can get.

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