A huge range of opportunities open up once you're willing to step out of your comfort zone. There's this line that's been bothering me a lot for the last two years. When I first joined Seedly, one of the questions that came up was from someone who was paying off a low-interest loan. I think it was under 2%. The majority of answers gave this line 'Pay off the debt first, for peace of mind.' I would nod my head upon seeing this answer. Yes, this seems like good, logical advice.
The news has been abuzz recently with the recent updates to the CPF interest rates. Simultaneously, CNA published a commentary on how 'Singaporeans were saving too little and too late'. Young adults planned to retire between 55 and 65 with an income of $3,500 yet they only start planning for said retirement once they hit the big 4-0. Many Singaporeans rely only on their CPF for retirement - but given the small amount of interest and the short time that most people start activ
When it comes to investing and insurance, a concept you've likely come across is Buying Term and Investing the Rest (BTIR). BTIR is a strategy that gives you the opportunity to beat a whole life (WL) insurance plan. Here's how it works. Plan 1: WL plan with sum assured (SA) $100k and annual premium $3k. Plan 2: Term plan with SA $100k, annual premium $300, and lasting 20 years. If you invest the difference ($2.7k) over the 20 years and eventually end up with, say, $135k, you