Be future ready

While property was certainly one of the best performing asset classes for the previous generation, their potential returns continuously change.

The investment landscape is constantly changing. It’s important to get reliable, up-to-date information and expert advice. Rather than putting all your eggs in one basket or thinking that your property is equivalent to a retirement ticket, consider growing your net worth through a diversified investment portfolio.

Be future ready

Health insurance, supplemented with other types of insurance policies, such as life insurance can help you meet rising healthcare costs which are increasing at double the consumer inflation rate. It’s important to align your needs with your affordability, both in terms of the medical care you expect as well as the insurance to cover it. Start planning early especially if there is a medical history in your family and if your employer's hospitalisation plan is not portable.

Be future ready

Financial management skills are best established early in life. It sets up healthy habits that will help your child create a sustainable financial future. So start talking early. The value of money, power of compounding, longevity, inflation, interest rates and the interplay between investment risk and reward are all critical concepts for them to understand in order to future- proof their lives.

Be future ready

Couples would rather talk about their holiday plans than about what to do in retirement or budgeting for daily expenses. Financial disagreements and lack of communications are some of the top reasons for divorce in Singapore in 2021.

Financial planning is best done as a couple. A neutral expert can help you connect on money matters in a rational, methodical way. Understanding each other's money habits, risk appetite and goals, as well as having regular conversations on money will strengthen marital bonds and the family's financial resilience. Couples can also leverage the power of two with their investments to reap the benefits of compounding.

Be future ready

Flossing could help increase lifespan as gum disease has been associated with ailments such as heart disease, HPV infection, mouth cancers, diabetes, and kidney failure.

In Singapore, 21 people die from cardiovascular disease (heart diseases and stroke) every day. Cardiovascular disease accounted for 32% of all deaths in 2021. This means that almost 1 out of 3 deaths in Singapore is due to heart diseases or stroke. 34% people do not exercise at least once a week. 53% do not eat fruits daily. 32% do not have medical checks at least once a year. These are some simple habits that could help extend your life span and should not be ignored.

The same goes for financial planning. Reviewing your holistic financial plans regularly, staying protected and invested, and constantly looking for suitable investment opportunities will play a big part in achieving sustainable financial health.

Be future ready

It is surprising that climate change is not everyone’s top concern, nor sustainability, which is a key action we need to take towards protecting ourselves from future risks. Climate-facing Environmental, Social, and Governance (ESG) investments are a great way to secure not just your future but generations to come. 

Be future ready

While it is important to build emergency cash savings of 3 to 6 months of expenses, cash isn’t the best way to mitigate against future risks like longevity, inflation and rising healthcare costs. To enjoy sustainable financial wellness, you need a variety of vehicles starting with suitable insurance plans to protect your wealth and a diversified portfolio of investments to grow your wealth. Your holistic financial plan should encompass budgeting, home, retirement and estate planning.