Do you find it difficult to save money?

Are you having trouble managing your finances?

Do you wish you had more money to buy something or to go on a trip?

Are you living paycheck to paycheck?

Do you wish you had some money put aside for emergencies?

Do you find it difficult to save money?? Don't worry you're not alone!

Do you find it difficult to save money?? Don't worry you're not alone!

 To most people, saving money is hard to do. It can be a challenge, but there are many methods of saving money in several areas of our life. 


I was reading an article on Singapore dream where the focus is now back on basics such as home and family.

This survey is conducted for OCBC.
Interestingly, these are the Top 10 Singaporean Dreams and Goals for 2009:

1. Family and children 
2. Settling down/Starting a family
3. House and home
4. Making money  
5. Retirement 
6. Seeing the world
7. Automobile
8. Good health
9. Starting a business
10. Self-improvement

– Half of the singles have starting a family as their top priority.

– 56% of those married with children put financial freedom and retirement plans as top concerns.

– Married couples with young children put education as a top priority.

Overall, while most respondents do not think the recession would derail their efforts to achieve their financial goals, nearly half believe it will take longer.


In a separate article, according to two recent surveys, Singaporeans are financially ill-prepared if they lose their jobs and they can do a lot more to improve their financial health.

About 20% of respondents have savings that would last only four weeks or less in the event of a job loss.

But the average Singaporeans has three months of reserve savings.

It is pretty obvious Singaporeans need to improve their financial health especially in areas such as saving for emergencies.


This shows that people still need to save their money despite any economic conditions.

This message is especially for my SINGLE clients/prospects out there who still feel that saving money can be delayed to later part of their lives.


I always show them the effect of saving early versus at older age. Most of them who met with me finally understood my message that I want to put across. In fact, they also agree at the simple theory and decided to do take some action.

However, what is worrying me is those people who keep postponing or WORSE, those who changed their minds and decided to cancel the meeting.

This is just a personal opinion; I just feel that they are the ones at the losing end. My intention is good but some people out there misunderstood it.

For instance, if an individual decides to take an action, indeed, I earn some commission and at the same time, this particular individual has actually better his/her financial position. Isn’t that a win-win situation?

On the other hand, if the prospect decides to DO NOTHING, at least I know I have done my part by sharing something beneficial.

That is my mission in this business. 

I am on a mission to educate people out there on the importance of proper financial planning.


But at the end of it, it is still YOUR decision whether or not YOU want to improve YOUR financial position.



When is the Best Time to Get Insurance?

That sounds like a weird question.
Should we get it in January? This year? Next year? Ten years later? Or perhaps over one of the weekends?

No, that’s not the point.
The best time to get insurance is when you are HEALTHY.

The worst time to get insurance is when you are sick or need to see the doctor. When you apply for insurance, insurance companies want to always know how your current health is.

Usually, young people don’t think that they need insurance. They will say, “I never get sick.”
If you can guarantee one hundred percent that you will never fall sick, then you don’t need health insurance. But who knows that?

Someone will say, “I am 50 and have never been sick and have never had insurance.” No doubt, that person has been very fortunate.

However, you may get sick tomorrow or even today. And the odds of you having major medical problems increase with age; and over the age of 50 the odds increase dramatically.
If you develop a medical condition, it is going to be very difficult to get insurance or good insurance plan.


I have people telling me that it is unfair when insurance companies decline application of someone with medical condition. First of all, one has to understand that the reason insurance companies exist is just like any other companies and businesses.

From a business point of view, if insurance companies were to accept application of someone with pre-existing illness, what is the likelihood of this particular person making claims?
Very high, indeed.

Premiums received are like “income” for insurance companies whereas paying out claims is like “expenses/loss” to them.
Thus, from a business point of view, it is a fair practice, isn’t it?

Therefore, if you are healthy now, this is the best time for you to get insurance.


Another factor is AGE. Premium for a young person is way cheaper as compared to an older person.
Thus, oftentimes, children and those who just started their career are advised to get insurance.










Insurance is not an instrument that can guarantee you to be rich. 

However, with proper planning, your family can be assured of a peace of mind.

So plan your life, people!

Dedicated to All Women Out There

Personally, sometimes, I have hard time with some female prospects and clients.
Some of them are just too dependent on their boyfriends or fiancée or husbands.
I just feel like shaking them off from their own world.
Come on, let’s face the reality of today’s world.
Your man in NOT your financial plan. Take control of your own finances.
You may end up in dire straits if you are clueless about family finances.
Can you imagine if your husband suddenly leaves you? It is either because he is being unfaithful to you or he dies without leaving anything behind.

Please for a moment, close your eyes and let the scenario run through your mind.
Yes, just for a moment.

So may I ask, what’s your preparation should that happen to you?

You can definitely do something about your financial matters now.

I have mentioned these FIVE FACTS in my last year’s entry so let’s recall them now:

1. Women live longer than men.
Men, on average, die five years earlier than women. According to statistics from the 2008 World Population Data Sheet, the life expectancy for Singapore males is 78 while it is 83 for females.

2. Women retire at a younger age or have shorter careers.
Many spend their productive years as housewives taking care of their families.

3. Women earn less than men.

4. The divorce rate gets higher each year.

5. Women suffer from more debilitating diseases in old age.

How’s the picture so far?

Imagine your situation 25 years later without your husband, with little or no savings at all and worst of all, diagnosed with some illness.

What are the actions that you can take today?

Consider some of these EXPERTS’ ADVICE:

– Save as much as you can while you are still single

– Grow your wealth more efficiently by investing your money rather than leave your money in fixed deposits and savings account

– Have your own insurance policies including medical plans (hospital plans, critical illness plans and accident plans)

– Build your own nest egg over and above any joint savings or savings you may have with your husband

– Buy your marital home in “joint tenancy” so as to ensure that the property automatically goes to the surviving spouse in the event of death


So women, take some action! 
Don’t let your busy day-to-day activities take precedence over planning for a more secure future.

Are you one of those who are wondering how to GROW your money during this financial crisis?

Many of you are probably pondering about our current market situation.
Yupps no doubt we are going through recession but it is not only affecting us in Singapore but it is indeed a WORLDWIDE “sickness”.

You may be one of those who have invested (cash or CPF) with financial institutions.
Do not panic and make rash decision.

Look at the big time investors, do you know they are actually pumping in more money at this “troubled” time?
To them this is the BEST time to make money!!

Oftentimes, advice by most financial advisors when it comes to investing is long-term rather than short-term speculative investments.
It is true, of course, that during the global financial crisis, both indiividual stocks and unit trusts suffered severely.
If you have a well-diversified portfolio, as we have encouraged, you will survive and prosper.

You should not stop investing during an economic downturn and you should also not over-invest in an upturn(this is always the case with most people).
One way to do this is to invest a fixed sum of money(with as little as $3.40/day) every month.

By doing so, it is periodic and systematic instead of putting in a large amount of money at one go.
 The risk of timing the market incorrectly could be greatly reduced!

Don’t put all your eggs in one basket.
Diversify your investment portfolio to help smooth out returns in a volatile market and lower overall investment risk.


Remember you are investing for a better life.
Set your time horizon(e.g. 7 years or more) so that your financial goals can be achieved.
So don’t invest to the point that you get worried and lose sleep over your investments.

Get help from a professional to help you map out your financial goals, before you start on your investment journey.
A good financial advisor will ensure that you’d never lose sight of the big picture.



Get Shelter!


Do you think like the Rich or Poor?

I’m currently reading Secrets of the Millionaire Mind by T. Harv Eker and I would like to share one of the Wealth Files shared in the book which spark my interest.

Wealth File #14: RICH people manage their money well.



 POOR people mismanage their money well.

Wealthy people are not any smarter than poor people; they just have different and more supportive money habits.

The single biggest difference between financial success and financial failure is how well you manage your money.
It’s simple: to master money, you must manage money.

Poor people either mismanage their money or they avoid the subject of money altogether. (Agree??) Many people don’t like to manage their money because, first, they say it restricts their freedom, and second, they say they don’t have enough money to manage.

Just a little (yet useful) tip shared by Harv which you can consider is to open an account called your Financial Freedom Account in the bank. This money is only to be used for investment and buying or creating passive income streams.
And when do you get to spend this money? NEVER!
It is never spent – only invested.
Eventually, when you retire, you get to spend the income from the fund but never the principal itself.
In this way, it always keeps growing and you can never go broke.

It doesn’t mater if you have fortune right now or virtually nothing. What does matter is that immediately begin to manage what you’ve got and you’ll be in shock at how soon you get more.

He also suggested opening a Financial Freedom jar in your home and deposit money into it everyday. It could be $10, $5, $1 or all your loose change. The amount doesn’t matter; the habit does. The secret again is to place daily “attention” on your objective of becoming financially free.

Whatever money you have, begin managing it now. Do not wait another day. Even if you only have a dollar. Manage that dollar.

Whatever money you have, begin managing it now. Do not wait another day. Even if you only have a dollar. Manage that dollar.

Bottom line is, it doesn’t matter if the amount is small, at least you get yourself started somewhere, somehow.


Don’t take TIME for granted.
Tell your loved ones how much you really care and love them.
Say it before it’s too late.

How are you??

If you think you can just ignore your health condition/issues in this economic downturn, think again.

Most people are focusing on how to make more money, how to cut down expenses by buying items on sale, going for a budget holiday and whatnots. But do you know that health problems can be an ongoing and long term financial problem as compared to the economic downturn now?

Health has a major impact on one’s ability to work, financial status and quality of life.

What if today you are being diagnosed with a heart failure?
What is your preparation, FINANCIALLY?


Are you able to bid goodbye to tens thousands of dollars (which can be your hard-earned savings thus far) just like that?
And that is just the cost of operation and hospital bills.
What about the expenses on your recovery process?
And what makes you think you are able to continue working hard as before?

Yes you can exercise regularly and go on a healthy diet but have you heard of stories that even a health conscious person can be diagnosed with heart disease, cancer and etc?

Don’t take this health issue for granted.

Prevention coupled with protection can give you a peace of mind.


First of all, unless someone is critical to helping you achieve your goal(s), do not freely share your goals with others. The negative attitude from friends and family can drag you down quickly. It’s very important that your self-talk (the thoughts in your head) are positive.

Reviewing your goals daily is a crucial part of your success and must become part of your routine. Each morning when you wake up, read your list of goals.
Visualize the completed goal, see the new home, smell the leather seats in your new car, feel the cold hard cash in your hands.
Then each night, right before you go to bed, repeat the process. This will also begin to replace any of the negative self-talk you may have and replace it with positive self-talk.


Every time you make a decision during the day, ask yourself this question, “Does it take me closer to, or further from my goal.” If the answer is “closer to,” then you’ve made the right decision. If the answer is “further from,” well, you know what to do.

If you follow this process everyday you will be on your way to achieving unlimited success in every aspect of your life. 

In life, the things you want cannot be achieved at the present level of comfort that you may be operating in. You must step out into a new zone. Step into a new set of risks.

Just take an example of you wanting to shed those extra kilos. After so long of not exercising, that final day that you decide to start your jogging routine and healthy diet, is it easy to start off?

It's normal to feel that exercising is killing you but that is just the initial part.

It's normal to feel that exercising is killing you but that is just the initial part


That very first step you decide to put on your running shoes and get out of the house is crucial. Initially, there will be a degree of difficulty. We are going to be uncomfortable taking action.

Decide what is important to you. Do not focus on needs as it won’t inspire you nor will it motivate you because you will not get emotionally involved in what you need. You will only get emotionally involved in something that you really want.

Take a pad.
Make a WANT list of things you want to be, of things you want to do, the kind of life you want to have.

Continue to pursue that new goal of yours until you arrive into an entirely new zone of comfort.


We give up what we want most for something we want in the moment.

We get comfort in the moment but we give up what we want most in the long-term.

We want long-term success but we lose it by escaping the pain of rejection in the moment. 


Have you achieved your goals so far???

Do you have that new year resolution for 2009?
So how do you remember your resolutions?
Simply by remembering them?

Okay let me pose this question to you. Do you remember your 2008 resolutions?


Try to recall

Try to recall

Sometimes, we tend to set too many, don’t we? And by 31st December 2008 when we were busily thinking of our new 2009 resolutions, often times, we forgot our past resolutions. That means to say, not only you did not achieve the resolutions but as a matter of fact, you were not even serious to achieve them.

When I join the insurance business, I have learned to write down my goals to paper and not simply storing them in my mind (like what I used to do for so many years!). My coaches keep stressing the importance of writing that goals down to paper. Something that is visible to you, something that you can look at on a daily basis. I am sure that their habit of writing down their goals is one of the factors to their success.


I have also met many people from different walks of life telling me about their goals. I always love listening to them sharing their short-term and long-term goals. And as a Life Planner, I always assure them that their financial goals are indeed achievable with proper planning and discipline. To those whom I’ve met to share my ideas on planning your finances, I am sure you have a clearer picture of what I do and not merely insurance. I hope you have benefited from our meeting.

So, what is the difference between a dream and a goal?

Goal setting however is more than simply scribbling down some ideas on a piece of paper. Our goals need to be complete and focused, much like a road map.

Just want to share some steps to goal setting in this week’s topic.

   o Make sure the goal you are working for is something you really want, not just something that sounds good

When setting goals, it is very important to remember that your goals must be consistent with your values.

   o A goal cannot contradict any of your other goals

For example, you cannot buy a $500,000 car if your income goal is only $24,000 per year.
This is called non-integrated thinking and will sabotage all of the hard work you put into your goals. Non-integrated thinking can also hamper your everyday thoughts as well.
We should continually strive to eliminate contradictory ideas from our thinking.

   o Develop goals in the key areas of life

      ➢ Family and Home
      ➢ Financial and Career
      ➢ Spiritual
      ➢ Physical and Health
      ➢ Social and Cultural
      ➢ Mental and Educational

Setting goals in each area of life will ensure a more balanced life as you begin to examine and change the fundamentals of everyday living.

   o Write your goal in the positive instead of the negative

Part of the reason why we write down and examine our goals is to create a set of instructions for our subconscious mind to carry out.
Your subconscious mind is a very efficient tool, it cannot determine right from wrong and it does not judge. Its only function is to carry out its instructions.
The more positive instructions you give it, the more positive results you will get. Thinking positively in everyday life will also help in your growth as a human being. Don’t limit it to goal setting.

   o Write your goal out in complete detail

Instead of writing “A new car,” write “A white Volkswagen Beetle Cabriolet with white leather seats.”
Once again we are giving the subconscious mind a detailed set of instructions to work on. The more information you give it, the more clear the final outcome becomes. The more precise the outcome, the more efficient the subconscious mind can become.

   o Make sure your goal is high enough

Shoot for the moon, if you miss you’ll still be in the stars.

   o This is the most important, WRITE DOWN YOUR GOALS

Writing down your goals creates the roadmap to your success. Although just the act of writing them down can set the process in motion, it is also extremely important to review your goals frequently. Remember, the more focused you are on your goals the more likely you are to accomplish them. Sometimes we realize we have to revise a goal as circumstances change. 


WRITE THEM DOWN! Take that first step, at least?

WRITE THEM DOWN! Take that first step, at least?


Just like what I learned from John Kanary seminar, he mentioned never change your goals, change the plans if you must.


So your goals are written down.





Look out for next week’s topic for the second part of this article!

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