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CJH Financial Planning

Minimalism. Simplicity. Financial Wellbeing.

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By Cai Junhao, ChFC, CLU

If you would like to contact me, please send me an email at caijunhao@pruadviser.com.sg and I'll be more than happy to help you with your queries.

Cheers!

CJH

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Copyright Cai Junhao, ChFC

Cai Junhao, ChFC, CLU: Singapore; A Master Financial Consultant, with 15 years of experience practising in Singapore. I am a Qualifying Member of the Million Dollar Round Table (MDRT®) 2019/2020, 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.

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Popular posts from this blog

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

Your Financial Life is a Sailboat

By Cai Junhao, ChFC, CLU

Think of your financial life as a sailboat, bringing you from where you are now, to where you want to go in the future. Think of the sails as higher-risk investments, as they help your boat goes fast. These may include stocks, bonds, funds, or other alternative assets. The boat (or the hull) is akin to cash and other low-risk assets like fixed deposits. They keep you safe and stable on your journey. When you have too much sail and too little boat, you are 'windsurfing'. If you have seen windsurfers in action, you will often see them capsizing as the winds topple them over due to their small base. Your boat may break before you reach your goal. On the flip side, if you have too much boat and too little sail, you are not harnessing the power of the wind. Instead, you are rowing your boat by hand. You will find yourself using lots of effort to work the oars just to move the boat a little, and certainly never getting to your destination on time. The key, therefore, is to find a goo

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