Browsed by
Category: Personal Finance

Financial Literacy Course Part 1

Financial Literacy Course Part 1

Last Sunday, 17th July, we had a Financial Literacy Course for our dear Domestic Helpers in SG at the St. Bernadette Church .  This was the first part of a 2-part seminar covering the following topics: Positive and Negative Impacts of Migration, Achieving your Migration Goal, Managing your Family Income and Saving & Investing.  It was a fun-filled half day learning sessions with activities like group discussions, sharing of experiences and exercises on budgeting, tracking of expenses and mapping the…

Read More Read More

Estate Tax = Death Tax: Burden of our Beneficiaries

Estate Tax = Death Tax: Burden of our Beneficiaries

All of us will die. It is just a matter of time. Some will go sooner and some will go later. But at the end of the day, what matters is we have everything planned and covered for the people we will leave behind. It can be in the form of a will, life plan, memorial plan for our wake and burial or cremation. But it is also important to have insurance which can be used by our beneficiaries to…

Read More Read More

Retirement is Over-Rated

Retirement is Over-Rated

So going back again to my blog last Sunday, bottom line, I will need 480,000S$ (estimated 15.84M Php) not taking in consideration inflation. If I don’t invest, if I start at the age of 40 and if I want to retire at the age of 65, I need to save 1,600S$ (52.k Php) per month or 19,200S$ (633.6k Php) per year. But the power of investing and compound interest can be seen in the wealth calculator below: You may be…

Read More Read More

How Much Money Do I Need Upon Retirement?

How Much Money Do I Need Upon Retirement?

A friend asked me one time how does she know the amount of money she needs upon retirement. I answered her, I am not an expert but it is really based on assumptions and then we came up with the scenario below. Assuming, I will retire by age of 65 I will spend 2,000S$ (roughly 66k Php) monthly or 24,000S$ (~ 792k Php) annually I will live until the age of 85 I don’t have any investment and no source…

Read More Read More