What is Financial Planning???

Financial Planning is the arrangement of your asset to achieve you financial goal.

Most people have the misconception that financial planning is all about insurance. In fact insurance only account approximately 20 to 25% of the financial planning.

There are generally 4 sectors of financial planning

1. Wealth Accumulation
2. Wealth Management
3. Wealth Distribution
4. Wealth Protection

There are several objective of Wealth Accumulation Planning

1. To fully paid up a residential property
2. Manage expense and minimized loan
3. Increase saving
4. Invest your savings to grow your wealth

As your wealth grows, you will need to do Wealth Management Planning
The objective is to

1. Asset Preservation
2. Diversify risk
3. Achieve a decent rate of return for your investment

To reduce your investment risk, you can allocated your saving into different type of financial assets

1. Low risk cash deposit and endowment plan (2 to 4%)
2. Medium risk financial product like unit trust (5 to 7%)
3. High risk like stock and share (>7%)

You must put in place a Wealth Distribution Plan once your wealth is properly managed and growing. The purpose is to protect & transfer your asset without facing potential pitfalls & inconveniences in the event of your death. For example, you can

1. Writing a will
2. Nomination of your CPF
3. Nomination of your Insurance Policies
4. Creating a Trust to distribute your asset to the right people at the right time

Do you know that there is one important factor is critical for your success of your Wealth Accumulation, Wealth Management and Wealth Distribution Planning? It is time! Given Time, you will be able to realize your earning ability and succeed in your financial plan.

1. What if you run out of time?
2. What will happen to your earning ability?
3. What if you are no longer around tomorrow?
4. What will happen to your financial planning?

Would you consider a fool proof plan that is independent of time?
A fool proof plan that will succeed with or without time.

To ensure your success, you need looking to Wealth Protection Planning. The propose is to ensure your income, health, asset and liability by converting part of your monthly earning ability before you run out of time

Is your existing financial plan comprehensive and fool proof?

Which of the 4 areas that you would like us to begin with?
Is it Accumulation, Management, Distribution or Protection?

If you would like help in your decision I would be glad to help…(65)9746 3061

Regards,

Kannan (AFP)

HP : (65)9746 3061