The SkyFP Blog
Catch up on the latest news and updates from SkyFP.com here.
Supplementary Retirement Scheme (SRS)
The Supplementary Retirement Scheme (SRS) is a voluntary scheme to encourage individuals to save for retirement, over and above their CPF savings. Contributions to SRS are eligible for tax relief. Investment returns are tax-free before withdrawal and only 50% of the...
Term vs Whole Life insurance
The purpose of insurance is to transfer risk of contingency event to the insurer. For whole life insurance, a portion of the premium is used to invest, thus accumulating cash value. It is more of a regular savings as the company assumes the investment risks. Term...
Increasing the odds of winning (TOTO)
This year's TOTO Hongbao draw has raised quite a lot of interest with a largest ever top prize at $13.9 million. This amount of windfall will provide anyone with a retirement if he/she choose so. Investing the windfall, and assuming a 4% max annual withdrawal rate, a...
Excuses people give for not investing
These are some of the typical reasons that I heard for not investing, which I believe should not be an obstacle. "I don't know how." With the abundant resources online, this is not a valid reason. Investing is like a life skills that is not taught in school, but...
Endowment as a safety net for your savings or retirement
Doing investments is a good step towards financial freedom. While it is ideal to be involved in equities for a potentially higher returns, being vested 100% in equities is a risky move. When you require cash flow, you may be caught in the bear market, and you may be...
Don’t make your loved ones pay
It's a matter of who pays. The price that your loved ones pay may far exceed the fixed amount for your insurance. How about the intangibles? Think about it. Find a financial planner to craft a safety net for you and your family.
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