Author: Dr Wealth

How Much You Need To Retire in Singapore & How You Can Get There

It’s the tinge of unease when you look at your bank account. That trickle of sweat going down your spine when you think about the future. That sigh when you think about how you’re going to try and pay for everything. The constant worry. The fear. You spend most of your time working, taking care of your family, your loved ones. Money keeps going out – and it seems like it’ll never stop going out. Can you afford to stop working? Can you afford to stop making money? Can you afford to retire? If you’ve wondered: Can I ever...

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Singapore Endowment Plan Policy: Everything You Need To Know (+Calculator)

Endowment plan, savings plan, retirement plan, investment plan, annuity plan… whatever you want to call it, the purpose of these plans is to grow your wealth. Some of them also come with protection value. These plans are usually structured in a complicated way, and although the benefit illustration should explain the benefits clearly, investors who want to buy these plans often do not understand them. They rely on their financial advisor to explain the benefits to them. As I am in the financial education business, I can’t stress how important financial literacy is. No matter how much you trust...

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Is Maternity Insurance For Singaporean Really Necessary? Let’s Take A Deeper Look.

As I approach the big 30, I see more and more of my friends’ baby pictures on their social networking sites. Some of them are expecting their first child while others are already at number two or three. They may be worried about the expenses after having a new born baby, but at the same time they are also worry about unexpected events during the pregnancy period such as  complications or congenital illness of the new born. Recently one of my friends approach me to ask about maternity insurance. I will share the outcome of my analysis here. What...

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Term Insurance Vs Life: A Thorough Comparison & Analysis

Benjamin Franklin famously proclaims – In this world, nothing can be said to be certain except for death and taxes. Since death is an absolute certainty, we should always ensure that we are sufficiently insured for that unfortunate event one day. In today’s market, there are many types of insurance coverage. I am going to compare and analyse two common types of insurance: Life insurance vs Term insurance. There is a traditional saying “Buy term and invest the rest” How true is this statement? Let’s find out below: Life Insurance Life insurance is used to protect the life insured in...

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50 Best Venture Capital Firms in Singapore 2019

Singapore is undeniably one of the small city-states that continually impress with her thriving economic system. This can be greatly seen in the number of startups that are growing in the country. Just in 2015, the number of start-ups reached 48,000. One of the reasons behind the rise is the presence of venture capital firms. The role these firms have is to provide capital, technical resources and business advice to increase their likelihood of success.    Venture capital firms, as explained in Investopedia, are a group of investors, investment banks, and any other financial institution that provides venture capital....

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What are Warrants with real Examples

5 Multi-Millionaire Trading Gurus (100+ Years of Experience) Share Their Most Powerful Trading Secrets. You will discover the strategies used by the top trading gurus in Singapore that built them multi-million portfolio. Discover what it takes to be a real trader (Hint: you don’t need high I.Q.) Learn the hard truth about trading that you will not find elsewhere from trading Stocks, Forex, Futures to...

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What Is FinTech? Here Are The 10 Fastest Growing FinTechs in Singapore 2019

What is FinTech? FinTech is short for financial technology. It is wherever technology provides financial services. It can also be used to aid companies to manage the financial functions of their business, which includes software and applications. FinTech was initially considered as a means to an end, a platform that acts as a center that processes data. In recent years, it has become the basis for end-to-end processing of communications through cloud services. In the growing digital age, there have also been noteworthy demographic shifts in the population. The consumers today are looking for convenience, effectiveness, and speed.Clients want...

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What Are Convertible Unsecured Loan Stocks (CULS)

We have invested in Malaysian stocks for more than a year and have noticed some uniqueness about them. One of which is the use of the Convertible Unsecured Loan Stock (CULS) in some Malaysian stocks. ‘Bond’ First, Stock Later CULS is like a bond, which offers a fixed interest coupon payment to the holders. It also has the feature of a convertible bond, which allow the holder to convert the CULS into the company stock at maturity date, at a predetermined conversion rate and price. It would be easier to explain with an example. Advance Synergy Berhad issued a 10-year Irredeemable Convertible...

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SRS Account Singapore Guide 2019: How to Start, Schemes & Penalty

It is no secret that Singapore is one of the lowest income tax rate countries in the world.  But wouldn’t it be better if you could pay even less taxes and save more for the future? After all, a dollar saved is a dollar earned.  “So how?” you might wonder. Today you will learn a government tax savings program called Supplementary Retirement Scheme. Here, we will cover what is SRS about, how to set it up, how much tax savings can you get and whether is it worth considering it. So without further ado let’s start! What Is Supplementary...

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What Is compareFIRST? A Singapore Direct Purchase Insurance Online Portal

Launched this week, the compareFIRST web portal allows comparison of about 200 life insurance products, including the new suite of Direct Purchase Insurance products. Have you had a chance to visit the new compareFIRST portal? Arguably the first of its kind in the world, compareFIRST allows consumers to compare about 200 life insurance products offered by a dozen insurance companies in Singapore. It is the first such “regulated” life insurance portal offered on a national basis. Unlike other overseas web portals (like in the United Kingdom), which are run by commercial entities and often criticised for biased pushing of...

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Why John Bogle is A Hero

It was (almost) all over the news. John Bogle’s passed away. John Bogle was an unwanted superstar in the finance industry. Most people desire to feel belonged to a group and would go along with the majority. Moreover, most dissidents get crushed. But once in a while, a dissident would emerge and relentlessly fight against the establishment for what is just. John Bogle was such a hero. Instead of ripping off customers, he was fighting for the financial industry to make less money. How well liked could he be then? I bet there are people who hated Bogle even...

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Singapore Deposit Insurance: What Is It, Coverage & Amount

I received a few letters from my insurers to inform me that they have been included under the Policy Owners’ Protection Scheme (PPF Scheme). This scheme is administered by Singapore Deposit Insurance Corporation (SDIC), a company that is created by the Government of Singapore to look after small depositors and policy owners’ interests. The other scheme, Deposit Insurance Scheme, protects your bank deposits. DEPOSIT INSURANCE SCHEME This scheme started in 2006 and several amendments were made since 2008. It was apt to have this policy in place during the Global Financial Crisis where confidence was obviously shaken with financial...

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SGX Academy & Courses: Everything You Need To Know (2019)

Investing is one of the keys to achieving financial security. Relying on your salary and savings to become financially secure might not bring the results that you are looking for. Also the earlier you start, the better it is. However, the problem is that investment is not easy to learn. It takes time, effort and money to figure out and it would be best for you to find some help when it comes to understanding the basics of investment. Hence today’s topic on the Singapore Exchange (SGX) Academy.  What is SGX Academy? SGX Academy is the leading provider of investor...

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Should You Invest Your CPF Money in Stocks?

[embedded content] Should you use CPF to invest in stock or should you just leave your money in CPF to collect the 2.5% interest in your ordinary account? These are the questions most newbie investors in Singapore encounter. Which is why, in this episode of the #AskDrWealth series, we are going to tell you two key considerations to help you with the decision. Let’s begin! But First, Studies Before we begin, let us first put everything in context. Let us run through a study stage and find out about some statistics about CPF. So for those members who invest...

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How to Generate Passive Income from Investing

Passive Income. Who doesn’t dream of owning it? But be warned: You’ll need to sacrifice something before you can own it. In this guide, you’ll discover 5 ways to generate passive income. Some easier than others. But all would require some effort from your part.  Let’s jump right into it and get you started as fast as we can: What is Passive Income? The Definition of Passive Income You see, passive income doesn’t come easy. You will need to spend a minimal amount of effort and time to build it up. And here’s how you can create passive income:...

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