Skip to main content

Search This Blog

CJH Financial Planning

Minimalism. Simplicity. Financial Wellbeing.

Home
About
Testimonials
Services
Contact

Posts

Showing posts from June, 2010

The True Opportunity Cost of Owning a Car

Get link
Facebook
Twitter
Pinterest
Email
Other Apps

By Cai Junhao, ChFC, CLU

Many young people go all out an buy a car soon after they start their first job. In Singapore (where I live), the cost of owning a car is very high. In fact, a mid-range car... Read more: http://thefirstmillion.net/blog/?p=5

Powered by Blogger

Theme images by zbindere

Copyright Cai Junhao, ChFC

Cai Junhao, ChFC, CLU: Singapore; A Chartered Financial Consultant, with 17 years of experience practising in Singapore. I am a Qualifying Member of the Million Dollar Round Table (MDRT®) 2019 - 2023, and hold the Chartered Financial Consultant (ChFC®), Chartered Life Underwriter (CLU®), and the Associate Estate Planning Practitioner (AEPP®) accreditations. My motto is to provide my client with Comprehensive, Justified and Honest financial planning advice.

Archives

2021 10

2020 5
2018 1
- Apr 2018 1
2017 1
- Aug 2017 1
2016 2
- Feb 2016 2
2015 3
2014 3
2013 8
2012 6
2011 11
2010 21
2009 6

Show more Show less

Labels

investing financial planning Insurance wealth retirement cpf savings Personal Finance financial freedom money

Becoming Rich Will inflation #FIRE #FIREmovement #cjhfinancialplanning Medical Costs millionaire #money Estate Planning Tip of the Week Warren Buffett success unit trusts #saving 80-20 Rule CJH MediShield Life Medisave Medishield Property Rich Dad Poor Dad Tax credit rating hospitalisation insurer interest life insurance liquidity rainy day fund statistics value #delayedgratification #marshmallowexperiment #tipoftheweek Books DPS IP MOH Robert Kiyosaki S&P Self Employed Shield advance medical directive amd couples covid-19 cpi home hot money housing loan management marriage mortgage nomination protection quantitative easing singapore truth

Show more Show less

Popular posts from this blog

How to Achieve a Million Dollars by Investing

By Cai Junhao, ChFC, CLU

It is often said that the first million is always the hardest . Assuming you are building your wealth from scratch and not raking in a six-figure monthly income like a professional footballer, you may have bills to pay, family to feed, and risks to worry about. So how can you do it in a reasonable amount of time? The answer is simple (but not easy) - Discipline and Compound Interest . Firstly, we need to instill the discipline of "paying yourself first". This means setting aside a non-negotiable proportion of your income into investments every payday. I recommend 10-20%, but you can do more if you wish to. This money must not be touched for any purpose other than for growing it. Next, we need to choose where to invest this money, and use the effect of compounding to grow it. As Albert Einstein said, " Compound interest is the eighth wonder of the world. He who understands it, earns it. He who doesn't, pays it. " The type of instrument that you invest in makes

Credit Ratings of Life Insurers in Singapore 2020

By Cai Junhao, ChFC, CLU

This is a follow-up from a post 3 years ago , where I compiled the credit ratings of the life insurers in Singapore, to have an idea of the differences in terms of their credit worthiness. Flawed Assumption People often think that life insurers and the policies they issue are homogeneous (the same), and often compare benefit illustrations as if two companies are going to make the exact same amount of profits, exact same amount of investment returns, have the exact same amount of business operating costs, and et cetera. How far away from the truth that flawed assumption can be. Every life insurer holds a different asset mix in their insurance funds, and have different profits/returns/costs. Even their shareholders may demand a different dividend rate on their shares. Therefore it is not surprising that life insurers with larger assets and bigger operations in Singapore tend to be the ones rated higher by Standard and Poors (S&P), one of the foremost rating agency in the wo

Financial Planning Is Not About Buying Insurance Policies

By Cai Junhao, ChFC, CLU

Today a business friend asked me if there is any way to insure her parents, who are in their late 70s, against medical costs. I told her that unfortunately the policies at my disposal have a maximum entry age of 75, and therefore I’m not able to provide cover for them. However I advised her on a viable alternative, that is “self-insurance”. I asked if she has any other siblings and she replied yes. I then went on to suggest that from now on, she and her siblings should start contributing some money into a medical fund for their parents, and this pool of money becomes an “insurance fund” for them. Coupled with Medishield Life as well as their Medisave funds, this approach should help to alleviate most of the medical costs. Suddenly I can see an imaginary light bulb lit up in her mind — an “a-ha” moment! She said that if each sibling contribute $200 monthly, it seems like this is a do-able strategy. Financial planning isn’t always about buying more insurance policies. Sometimes