CJH Financial Planning

Don’t be clueless. Be in control.

2012-02-01T15:28:00.000+08:00

Do you know someone who is a slave to his job because of the big mortgages he has to pay? Someone who could not afford the best medical care when diagnosed with cancer? Someone who is broke due to speculative investing? Someone whose marriage fell apart because of financial stress? Someone who has to get a court order for financial support from her children?Could that someone be you someday?

Happy Lunar New Year!

2012-01-23T15:20:00.000+08:00

Wishing all readers a Happy and Prosperous Lunar New Year! May the Year of the Dragon bring to you good luck and great health! Cheers! - CJH

A Quick Guide to Investing in Unit Trusts

2012-01-19T20:02:00.000+08:00

How do you ensure that you profit from unit trust investments and minimize the chance of losses? Here are 7 golden rules to follow: This article is contributed by a friend, fellow financial professional and colleague from Business Network International, Mr Daniel Tay. Rule Number 1: Don’t choose a unit trust based on return alone Unit trusts with higher returns are almost always accompanied

Know the facts before you consolidate your debts

2012-01-12T00:16:00.001+08:00

If you fall in debt, then you must look for some debt consolidation companies such as, Debt Reform, Life Planning Associates Pte Ltd, Corner Stone Planners, Synthesis Consultancy that can help you become stress free soon. Try to take help of a credit card debt consolidation program where the representative of the company will negotiate with your creditors to reduce the interest rates on your

Singapore Inflation Rises 5.5%, Bank Deposits Interest Rates Drops

2011-10-24T19:39:00.000+08:00

Singaporeans are experiencing a 'double whammy' recently. Firstly, Yahoo! News reported that Singapore’s inflation have risen by 5.5 per cent over one-year period. Read the whole article here: http://bit.ly/oZyZus Secondly, a major local bank has decreased the interest rates for savings and fixed deposit accounts. Savings Deposit Rates Fixed Deposit Rates If majority of one's long-term money

No Marriage, No House, No Money

2011-07-28T02:12:00.000+08:00

Young couples intending to buy a HDB flat, beware! It might be worth considering timing your marriage and house purchase properly. According to a Yahoo! News report, John broke up with his fiancee after applying for a flat, and got slapped with a 20% penalty amounting to $132,000 (And no, he don't get to keep his house as he's not married and thus not qualified to buy a DBSS unit). Read more

5 Problems With Not Having a Will

2011-07-22T17:07:00.004+08:00

You probably already know by now that when a person dies without a valid Will (intestate), his assets (estate) will be distributed in accordance to a law known as the Intestate Succession Act. But do you know that writing a Will is not only to decide where and to whom your estate go to? Having a properly drafted Will can help in ensuring that your family are not inconvenienced by your death, and

Logo

2011-07-19T22:26:00.001+08:00

Hi all, I've been playing around with designing some logos for my practice and here is one I particularly like: The basic colour scheme is blue and white, and here are some of the qualities that each colour portays: Blue Calmness Security Trust Loyalty Steadfastness Dependable Productivity WhitePurity Neutrality Creativity Cleanliness Perfection Light And it just so happens that '

10 Books You Must Read to Improve Your Financial IQ

2011-07-14T01:52:00.001+08:00

Few days ago, I met a young promising student who is intending to join the financial planning industry and I was impressed by his enthusiasm and intelligence. He asked for me a list of recommended books to improve his knowledge in personal finance, and I think it will be a good idea to share my reading list with everyone I know. So here's my top 10 recommended books that everyone who is serious

CPF Changes 2011

2011-06-28T19:15:00.002+08:00

Here's an update on the upcoming changes to the CPF system, effective 1 July 2011. CPF Minimum Sum From 1 July 2011, the prevailing MS will be revised to $131,000, up from $123,000. Members who can set aside the MS fully in cash can apply to commence their monthly payouts of $1,170 when they reach their draw down age. Medisave Minimum Sum The Medisave Minimum Sum (MMS) will be raised to

Singapore April CPI rises 4.5 percent year-on-year

2011-05-23T19:16:00.002+08:00

From Yahoo! Finance, By Elena Torrijos, On Monday 23 May 2011, 14:17 SGTSingapore's consumer prices in April rose by 4.5 percent from a year ago, the first time this year that inflation has fallen under 5 percent, as a strengthening currency cut the costs of imported goods. According to the Department of Statistics, the year-on-year rise of the consumer price index (CPI) in April reflects higher

The Pitfalls of Starting Your Savings Late

2011-05-11T18:03:00.001+08:00

This post is written to help some of my clients who is in a dilemma of whether they should start their savings as soon as they can, or to wait till they are married and settled down before starting. The answer is obviously to start early. We have heard it so many times but why is starting early so important, and what are the pitfalls if we start late? TIME VALUE OF MONEY (TVM) A dollar today

How to pay virtually nothing for your medical expenses

2011-04-23T17:52:00.005+08:00

Recently I had a few calls coming in enquiring about medical expenses. As such I thought it would be useful to share this information with my readers. To start off, I'm sure you have seen someone who was hospitalised for a seemingly minor treatment, which still required a few thousand bucks? Or someone who had gone through a major surgery which set him back tens of thousands of dollars? 'Bill

If Your Employer Doesn't Offer Health Insurance. What Do You Do?

2011-04-16T00:53:00.002+08:00

MPs question adequacy of CPF savings for old age

2011-03-11T14:45:00.002+08:00

MEMBERS of Parliament yesterday pressed Manpower Minister Gan Kim Yong in Parliament on the adequacy of the Central Provident Fund (CPF) for old age. Opposition MP Chiam See Tong (Potong Pasir) asked for a review of the interest rates paid on CPF accounts, and suggested that the rates be pegged to the returns of Singapore's investment company, Temasek Holdings. But Mr Gan said that a thorough

Why The Poor Will Always Be Poor

2011-03-09T11:43:00.000+08:00

Source: Wallstraits.com There is an old saying: The rich get richer and the poor get poorer. It's true, and there's a logical explanation why it holds true in every capitalist society. Put simply: the rich understand the difference between an asset and a liability, and the poor never quite get it. The rich work for investment capital, while the poor work for disposable income. The rich buy

The 5 Essential Types of Insurance (That Everyone Must Have)

2011-01-24T22:08:00.003+08:00

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

The Four Levels of Wealth

2010-12-13T22:54:00.001+08:00

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

Going After What You Really Want - T. Harv Eker

2010-12-08T00:46:00.000+08:00

(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

CPFIS-included funds sees 6.8% gain in Q3 (from IM$aavy)

2010-12-03T12:50:00.003+08:00

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. According to new data from fund research firm Lipper, CPFIS-included unit trusts and investment-linked insurance plans (ILPs) soared 8.8 per cent and 7.9 per cent

Govt introduces new measures to cool S'pore property market

2010-08-31T00:14:00.001+08:00

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. The

Common Myths About Insurance

2010-08-30T23:54:00.003+08:00

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

S’poreans ill equipped for retirement, survey shows

2010-08-24T18:07:00.001+08:00

(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

What happens to my CPF savings after setting aside the Minimum Sum?

2010-08-23T21:08:00.001+08:00

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

My Online Bookstore is up!

2010-08-18T01:22:00.000+08:00

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