HeyAnna

Boss

administrators Put these in your To-Dos for a financial peace of mind 😇

Happy to share that we've some students and young adults coming in from the DBS Students Only telegram. Welcome, welcome! We've got some beginner-friendly tips to start you personal financial journey now.

1. Set up a solid long term goal and hold yourself accountable
   There is no way that you'll one day wake up with everything you need without proper planning. This is where goal-setting and routine check-in take place. Please consider: the inflation rate, possible protection gaps, money for leisure and retirement. Use NAV Planner, a handy planning tool within your digibank app to help gain some perspective. Have your phone on you? Just log into digibank and hit 'Plan'!

2. Investing? Hold your horses
   Proceed with caution ONLY AFTER you've accrued at least 6 months of emergency savings (that you do not plan to touch for everyday use). Learn to observe and weigh out your risks. Once confident, aim to have Invested Assets to Net Worth ratio (Assets - Liabilities) of at least 50%. Sounds complicated? It doesn't have to be - get started with a Regular Savings Plan or explore DBS digiPortfolio.

3. Top up your parents' CPF accounts
   Maximise their nest egg and get some tax relief for yours. Get dollar-for-dollar match into the Retirement Account (RA) with Matched Retirement Savings Scheme (MRSS) to help senior Singaporeans to meet their Basic Retirement Sum (BRS).

**‍️ Admin's note: ** If you're new here, take some time to learn (or refresh!) yourself with financial planning concepts that you might have come across previously. Having some foresight to work on your finances now can help with easing the burdens Future You might have down the road. Stay resilient, everybody!