21/01/2025
https://www.straitstimes.com/opinion/sumiko-at-61-8-what-not-to-do-tips-from-a-regretful-investor
A very useful article by Sumiko Tan for us to read, consider and understand.
To be provident is a virtue we all should strive to inculcate and incorporate into our psyche.
Just as investing in assets in search of a healthy return should be done in a way that brings you peace of mind, so too shall your approach to your insurance program.
We particularly love Ms Tan Siew Lee’s advice in terms of how to approach the various pieces of the financial puzzle. First, save. Second, insure. Third, set aside money for goals. And then finally, with the cash that remains, start looking at the risk and return game.
A lot of financial products exist to unfairly enrich corporations, to the detriment of the hopeful but uninformed consumer.
This is where a need for an advisor is created - someone who understands deeply the products that exist, and can guide you towards a path that facilitates positivity and peace of mind.
Human beings are a diverse bunch, and not every product is suited to everyone.
So amidst all the noise and the chaos, ask yourself: which products best aligns with my risk appetite and values?
