CJH Financial Planning

There are so many types of insurance plans and riders in the market. So how do you determine which types are the ones that are most important to your financial protection? Here are 5 of the most essential coverages that one must possess: Death Insurance If you have started your own family, you will definitely know the importance of this. Upon one’s demise, it is important to leave sufficient money behind to ensure that the surviving family members continue to enjoy the same standard of living, to have the future that they were supposed to have, and not to be laden with debts left by the deceased. You can be financially protected against death by purchasing a life insurance policy, and supplementing it with a term insurance policy. One’s assets (cash, investments, CPF funds) will also contribute to the deceased’s estate, which will help in alleviating the family’s financial needs.

FINANCIAL FREEDOM - such a big word. Desired by all, understood by few. So do you have your own definition of what financial freedom is, and what it means to you? Clarity is power, and the clearer our definition of financial freedom, the more likely it can be achieved. While I was reading Adam Khoo's Secrets of Self-Made Millionaires , I came across a well-defined explanation of what financial freedom is, along with the other different 3 levels of wealth. Level 1: Financial Stability This is achieved when one has enough liquid assets to cover his/her expenses for at least 6 months, and he/she has sufficient life and hospitalisation insurance to protect against permanent disability, inability to work, or sudden death.

(Abstract from T. Harv Eker's Blog - Going After What You Really Want) The purpose for having money is pretty well the most important element in having money. Everyone I know who has become rich did so for a reason as if they needed to become rich. Most of them don’t live all that happily because they needed to become rich in order to prove that they’re okay, or responding to some programming other than an intention that moved them from their inner core. So go for whatever you want. In the end, we’re all going for the same thing. What we’re really seeking is the feeling that the objects of our wants will bring. A new house can give us a sense of comfort. A new car can heighten a feeling of importance. Travel and toys can invoke excitement and stave off boredom. Launching the business dream job can satisfy our need to achieve and be recognized. But we need to be real careful about what it is we want. Sometimes people keep wanting things and getting them, only to find out they ...

Source: The Straits Times, Lorna Tan Funds held in the Central Provident Fund Investment Scheme (CPFIS) achieved average gains of 6.8 per cent in the three months ended in September, thanks to rallying global equity markets.

Channel NewsAsia - Govt introduces new measures to cool S'pore property market - channelnewsasia.com SINGAPORE: The government on Monday introduced more measures to cool the buoyant property market. These include raising the holding period for which a home seller must pay a stamp duty and reducing the maximum bank loan amount for existing home owners who want to buy another property.

Here are some of the common myths about insurance that I have heard over my years of consultation work with clients. Some are quite absurd. Some make you think twice. Below are 5 of them and this should help you understand life insurance better. 1. You only get the money when you die. Some folks think that there is little purpose in buying insurance, as the proceeds will only be paid out upon one's death. This is one huge myth, often said by the ignorant. There are various forms of insurance other than death insurance. For example, disability insurance pays out when the insured suffers from a total and permanent disability, impeding his or her ability to earn a living. Critical illness insurance pays out upon the insured being diagnosed with a life threatening disease. Hospitalization insurance pays out when the insured is hospitalized, or needs to undergo surgery. As you can see, there are many forms of 'living benefits' that are paid to the insured during his or ...

(News article extracted from MyPaper, 23 Aug 2010) SINGAPOREANS are not savvy enough when it comes to planning their long-term finances and are, thus, generally unprepared for retirement, a study by HSBC has revealed. The HSBC Future of Retirement (FoR) survey, which polled 15,000 respondents across 15 markets and about 1,000 Singaporeans aged 30-70, found that a staggering 91 per cent of locals do not have any idea what their retirement income will look like.

Once a CPF member has turned 55 and fulfilled the Minimum Sum requirement (currently at $123,000), any excess can be withdrawn in cash. What happens to the excess amount if he/she do not intend to withdraw this money? Let's take a look. If the CPF member decides not to withdraw at that point of time, the money left there will earn interest same as the account that is is from (i.e. if it is from the Ordinary Account, it will earn 2.5% interest). Therefore this is a better option than withdrawing all the money and leaving it in a bank account, which is paying interest of a fraction of a percent.

Hi all! I've finally taken time to compile some of the best resources that can help you achieve success, be it in your career, in your wealth, or in life. The link can be found in the bar near the top of my homepage. (or you can click here ) The e-store is hosted by Amazon.com so you can be assured of its reliability and security. I will continue adding more fantastic books and learning materials so that we can all grow. Feel free to give me any feedback at cjhfinance@gmail.com . Thank you and all the best to you, in everything that you do! CJH

Currency is designed to move away from us. Its convenience and its portability means it can be spent or wasted easily. The entire economy is after our bucks and needs our bucks to survive. To be wealthy, we have to start converting our currency into true wealth. Investments, commodities, real estate, precious metals, just to name a few. If we make it a hobby to collect as much of these as possible, our net worth will definitely increase. :)