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The toughest resolutions are those that require consistent effort. This is no different for financial resolutions. Furthermore, time is money – the earlier we start work on our financial resolutions, the more we can gain from them. Fortunately, there are three things we can do to have a better 2018
In Singapore, we are spoilt for choice when it comes to investment solutions. It is essential to get started as early as possible. If we are new to investing and are intimidated by the sheer number of available investment options, a regular investment plan is a good way to start.
When we invest a fixed amount every month or year, we don’t need to worry whether the market goes up or down because of a concept called dollar-cost-averaging.
AIA Pro Achiever is one low cost option that allows us to invest 100% of our money regularly from day 1. There’s no sales charges and it even gives us up to 105% premium allocation. For more info, refer to the video or brochure below.
2. Watch Your Back!
It’s time to look at the blind spots in our personal Risk Management portfolio. Both medical and insurance costs are rapidly rising in Singapore. It is thus important to keep track of the relevance of our insurance to our needs.
Conducting regular portfolio reviews is important to determine if existing policies are performing up to expectations and meeting our objectives. Many people have not looked at their policies since purchasing them and have forgotten how they work. Are you one of them?
3. Lower Your Cost of Living
Most people can find some areas where expenditure can be reduced. Every time we decide to spend less on something, we are freeing up cash that can be invested for retirement or a more worthy financial goal. It pays to track our spending to find areas where we can spend less. Perhaps we can eat out less, or take the bus/MRT more instead of private hire cars. Are we willing to delay our gratification for a better future?
These are three simple suggestions to achieve a financially better 2018. Hopefully we can find the inspiration to take action to achieve our financial goals. Finally, it would beneficial to have a dedicated Financial Services Consultant to service and advise us. Always remember, I’m just a phonecall or email away!
