Hope everyone is keeping well as we are into the 2nd year of the challenging Covid-19 period.
Just like to update on the blog after not doing so for past 2 years, not because of Covid but what is to be written has been written all these past years.
Financial Planning in that you should look into your protection needs first before going into asset building and legacy planning as the years go on.
Start doing it early, notice I did not say plan early, many will look into plans but procrastinate and never really get to do it because they are still looking for the best yield and best deal, well look for reasonable plans, and consider. Best is to establish a good relationship with your trusted agent or financial consultant, though I want to say look into what the consultant himself plan for himself and family and this will probably be good for consideration, (if the consultant has been around long enough).
As the saying goes, FAIL TO PLAN, PLAN TO FAIL or JUST DO
Perhaps is good to consider drawing a timeline to gather one's assets and plans or to plan along the timeline to see where the gaps are. Or perhaps a spreadsheet to gather even bank accounts, CPF account, and other investments, and you should be able to see how well positioned you are forward, and where to plug the gap. CPF Life with FRS and ERS scheme are good to consider for part of retirement needs.
As I have written, it is prudence and being practical and to build along the years forward.
Just my personal sharing as one works towards enjoying a fruitful retirement.
I just cleared my cupboard and realized we have between me and wife 100 over policies with many matured along the years.
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