Most Singaporeans would have heard of this phrase spoken during coffeeshop talk:
"Singaporeans cannot afford to be sick, it is better to dead!!!" Most would have nodded their heads in agreement... Why?
It is because their experience with hospitals and medical specialists were that it cost them an arm and a leg after visiting them. They saw expensive European cars parked outside the private hospitals and these cars usually belonged to the surgeons and doctors at the hospitals.
Their CPF Medisave as well as their children's were usually depleted after a long and serious illness or a bad accident. Bank accounts were wiped clean plus family squabbles about the medical bill took a mental toll on family members.
Everyone had a valid reason not to pay for the medical bills.
My suggestion to all my readers out there...
Please buy a good insurance plan that will cover all these medical expenses so that:
1) You will not hesitate to see a specialist when you are unwell. Early detection will save your life.
2) You will have a FREE yearly medical check.
3) You do not have to pay a single cent if hospitalised.
4) Even if you are not hospitalised, you will get back your money after test or scan.
5) You will be compensated for Pre and Post hospitalisation expenses.
6) You are covered 24 hours a day anywhere in Asia or world wide, etc, etc.......
Start now while you are healthy, call me now for a quotation.
Please refer me to your spouse, relative, colleague or close friend if you think they are not adequately insured.
Please do not call me if you already had a heart by-pass, high blood pressure, diabetes, hepatitis, cancer etc... it is too late now. Just concentrate on taking care of your health. So sorry that I can't help you as you are not insurable anymore.
Thank you and have a blessed week!
Tuesday, October 13, 2009
Wednesday, September 16, 2009
Buy Life Insurance When You don't Need It!
In recent years, I have attended quite a number of funerals, visited friends and relatives hospitalised for diverse reasons. Some died young due to cancer, got diabetes, high blood pressure, liver failure, broke their bones, sprained their ankles and some I cannot even mention here.
Many were not adequately insured and had to compromise or delay their medical treatments. Some commented that Singaporeans cannot afford to fall sick due to the high medical costs here in Singapore.
I sigh and regret that these people need not go through such financial tragedy if only they had adequate insurance to pay their medical bills and also see them though the financial hardship.
Buying Insurance need not be expensive if you know where to look!!!
I would like to help you take a pulse reading on your financial safety net. Just drop me an email and let's meet up for a quick review.
God bless you with wisdom to do the right thing for yourself and your family.
Many were not adequately insured and had to compromise or delay their medical treatments. Some commented that Singaporeans cannot afford to fall sick due to the high medical costs here in Singapore.
I sigh and regret that these people need not go through such financial tragedy if only they had adequate insurance to pay their medical bills and also see them though the financial hardship.
Buying Insurance need not be expensive if you know where to look!!!
I would like to help you take a pulse reading on your financial safety net. Just drop me an email and let's meet up for a quick review.
God bless you with wisdom to do the right thing for yourself and your family.
Friday, July 17, 2009
Retirement Planning
Why do you need to plan for your retirement?
Many of us are working our butts off trying to earn a decent living, juggling between many roles in our lives. So we just continue to work and work without ever reflecting on why we are working so hard.
Have you ever wonder when you will stop working but the more inportant question to ask I believe is " Why should I plan to be financially independent when I retire?"
If you want to retire at age 40, 50, 60 or 65 have you planned for it?
ONE major factor we have to accept is that " We will not have life long income for most of us"
You could lose your job through retrenchment, replacement, redundancy and the official retirement age set by the government.
So start reflecting how you can achieve financial security and success when you retire, voluntarily or not.
When you are financially free, you work because you love to work, not because you have to work.
Do call me if you have decided to change your financial game plan to achieve $$$ success.
Many of us are working our butts off trying to earn a decent living, juggling between many roles in our lives. So we just continue to work and work without ever reflecting on why we are working so hard.
Have you ever wonder when you will stop working but the more inportant question to ask I believe is " Why should I plan to be financially independent when I retire?"
If you want to retire at age 40, 50, 60 or 65 have you planned for it?
ONE major factor we have to accept is that " We will not have life long income for most of us"
You could lose your job through retrenchment, replacement, redundancy and the official retirement age set by the government.
So start reflecting how you can achieve financial security and success when you retire, voluntarily or not.
When you are financially free, you work because you love to work, not because you have to work.
Do call me if you have decided to change your financial game plan to achieve $$$ success.
Tuesday, June 02, 2009
Are You Maximising Your CPF Medisave Account?
From CPF Website, www.cpf.gov.sg :
Working Singaporeans and their employers make monthly contributions to the CPF which go into three accounts:
Ordinary Account - the savings can be used to buy a home, pay for CPF insurance, investment and education.
Special Account - for old age, contingency purposes and investment in retirement-related financial products.
Medisave Account - the savings can be used for hospitalisation expenses and approved medical insurance.
Today, I would like to discuss how we can maximise the use of our Medisave Account (MA).
Our MA earns an interest of 4% per year, a very respectable figure compared to what you get from banks today. If you already have $34,500 in your MA, you will earn an interest of $1,380 a year. What can you do with this $1380 every year? Do remember that money in your MA can never be withdrawn in cash even when you retire.
Many of my clients have upgraded their Medishield and Eldershield plans (for people aged 40 and above ). These are private insurance plans that enhances your BASIC Medishield and Eldershield plans.
Have you upgraded yours? Have you upgraded your family's protection against hefty medical bills in the event of a long illness or a serious accident?
If you are not sure what this is all about, please give me a call and I will be most happy to share with you how all these plans work.
Take action now, most people fail because they failed to plan, not because they plan to fail. Procrastination will lead you to regret later in life, so pick up your phone and dial 9001-1082.
I look forward to meeting up with you very soon.
God bless us all with a wonderful day of love, joy and peace in our hearts!
Working Singaporeans and their employers make monthly contributions to the CPF which go into three accounts:
Ordinary Account - the savings can be used to buy a home, pay for CPF insurance, investment and education.
Special Account - for old age, contingency purposes and investment in retirement-related financial products.
Medisave Account - the savings can be used for hospitalisation expenses and approved medical insurance.
Today, I would like to discuss how we can maximise the use of our Medisave Account (MA).
Medisave Minimum Sum and Medisave Contribution Ceiling
The Medisave Minimum Sum (MMS) and Medisave Contribution Ceiling (MCC) need to be adjusted to ensure that Singaporeans have sufficient savings to meet their hospitalisation expenses, and have been adjusted for inflation. For this reason, from 1 July 2009,
a. The MMS will be raised to $32,000 from $29,500. Members will be able to withdraw their Medisave savings in excess of the MMS at or after 55 years old.
b. The maximum balance a member may have in his Medisave Account, known as the (MCC), is fixed at $5,000 above MMS and this would be increased correspondingly to $37,000, from $34,500.
Any Medisave contribution in excess of the prevailing MCC will be transferred to the member’s Special Account if he is below age 55 or to his Retirement Account if he is above age 55 and has a MS shortfall.
Our MA earns an interest of 4% per year, a very respectable figure compared to what you get from banks today. If you already have $34,500 in your MA, you will earn an interest of $1,380 a year. What can you do with this $1380 every year? Do remember that money in your MA can never be withdrawn in cash even when you retire.
Many of my clients have upgraded their Medishield and Eldershield plans (for people aged 40 and above ). These are private insurance plans that enhances your BASIC Medishield and Eldershield plans.
Have you upgraded yours? Have you upgraded your family's protection against hefty medical bills in the event of a long illness or a serious accident?
If you are not sure what this is all about, please give me a call and I will be most happy to share with you how all these plans work.
Take action now, most people fail because they failed to plan, not because they plan to fail. Procrastination will lead you to regret later in life, so pick up your phone and dial 9001-1082.
I look forward to meeting up with you very soon.
God bless us all with a wonderful day of love, joy and peace in our hearts!
Thursday, May 21, 2009
Be Still and Know That He Is GOD
STILL by Hillsong United
Hide me now
Under Your wings
Cover me
Within Your mighty hand
When the oceans rise and thunders roar
I will soar with You above the storm
Father you are King over the flood
I will be still and know You are God
Find rest my soul
In Christ alone
Know His power
In quietness and trust
When the oceans rise and thunders roar
I will soar with You above the storm
Father You are king over the flood
I will be still and know You are God
Thursday, April 02, 2009
Testimony From A Happy Client
March 31st, 2009
IPP Financial Advisers Pte Ltd
Mr. Stephen Mok
78 Shenton Way #10-01
Singapore 079120
Dear Stephen
I just had to write to thank you for your outstanding advice and service. In the USA, I had always taken complete control over my healthcare coverage and did not seek anyone’s advice. When I contacted you for insurance, I was shopping for price. You gave me a good price but insisted I upgrade to full hospitalization because I had a family now and should no longer ‘self insure’. As you recall, I fought you on this decision. Well, you convinced my wife and once you had her, you convinced me.
Six months later, when our daughter Anna fell from the monkey bars and broke both bones in her arm, we took her to the best private hospital and got her the best Mayo Clinic trained hand and wrist specialist. Today you cannot even see where the pins were put in and her arm… it’s perfect. That was a $14,000 bill we would have paid if we had not listened to you.
This February, 3 years later, I ripped out my
THANK YOU! THANK YOU! THANK YOU!
You could have taken the ‘easy sale’ but you went the extra mile to convince us we needed more coverage. We are so blessed you did that for us. In the dictionary under the word “Professional”, they should put your picture.
God bless you Stephen. You are a financial angel with wings of wisdom.
Your friend for life,
Michael Podolinsky CSP
PS: Your big gift for Anna after her accident and your personal visit and gift to me in the hospital was most appreciated and above and beyond the call of duty.
Friday, January 30, 2009
Secrets of the Millionaire Mind Money Management Method
"Secrets of the Millionaire Mind" MONEY MANAGEMENT METHOD by T. Harv Eker
Wealth Principle 1: The habit of managing your money is more important than the amount
Wealth Principle 2: Either you control money or it will control you.
Wealth Principle 3: Until you can handle what you have got, you won't get any more!
Financial Freedom Account 10%
Open a separate bank account designated your Financial Freedom Account.
Put 10% of every dollar you receive (after taxes) into this fund.
This is for investments and buying / creating passive income streams
The job of this account is to build a golden goose that lays golden eggs called passive income.
It is NEVER, NEVER, NEVER spent, only invested.
When you retire, you get to spend the income(eggs), never the principal(goose).
In this way, it keeps growing and you will never go broke!
Create a Financial freedom Jar at home & deposit money into it everyday (create a savings habit)
Play Account 10%
One of the biggest secrets to managing money is balance.
On one side you need to save as much money as possible so that you can invest it & make more money.
On the other side, you need to put another 10% into a play account, because we are holistic in nature.
You will not feel guilty when you spend and not feel fulfilled when you save.
This play account is to nurture or pamper yourself with luxury.
It rewards you and makes managing money a lot more fun and strengthens your "receiving" muscle.
Long Term Savings for Spending Account Account 10%
Impulsive buying is one of our weaknesses that many of us have experienced with regret.
Whenever we see a great advertisement of a great holiday getaway, we are tempted to go for it.
The problem is that we did not set a budget for it in the first place.
You need to put aside another 10% into this LTSS account just for you to spend in future.
This account is for you to buy a big ticket item like a new kitchen, wardrobe, a new car, a family holiday.
Education Account 10%
Education is often neglected even though we know deep down inside that we must grow all the time.
Upgrading our skills and knowledge should not be left to employers sending their employees for courses.
We must take responsibility for our own personal development by setting aside funds just for it.
Save 10% of your income into this Education Fund to pay for self improvement programs.
This is for your personal development account for buying books, CDs, DVDs, attend seminars
Give Account 10%
"Givers gain" philosophy
You will feel much better when you give money away to those who need it most.
Giving 10% or more shows you trust God for his providence and is a barometer of your faith.
This is for you to give away for charity, the poor in your area, your tithes and offerings.
Necessities Account 50%
Most people spend all the income on necessities and luxuries. Leaving little for the other 5 accounts.
Capping our necessities to 50% will create a balanced money management habit.
This account is to pay for mortgage, insurance policies, family expenses
Poor people think it is all about income, they believe you have to earn a fortune to get rich but the fact is if you manage your money following this program, you can become financially free on a relatively small income. If you mis-manage your money, you won't become financially free, even on a huge income.
Wealth Principle 1: The habit of managing your money is more important than the amount
Wealth Principle 2: Either you control money or it will control you.
Wealth Principle 3: Until you can handle what you have got, you won't get any more!
Financial Freedom Account 10%
Open a separate bank account designated your Financial Freedom Account.
Put 10% of every dollar you receive (after taxes) into this fund.
This is for investments and buying / creating passive income streams
The job of this account is to build a golden goose that lays golden eggs called passive income.
It is NEVER, NEVER, NEVER spent, only invested.
When you retire, you get to spend the income(eggs), never the principal(goose).
In this way, it keeps growing and you will never go broke!
Create a Financial freedom Jar at home & deposit money into it everyday (create a savings habit)
Play Account 10%
One of the biggest secrets to managing money is balance.
On one side you need to save as much money as possible so that you can invest it & make more money.
On the other side, you need to put another 10% into a play account, because we are holistic in nature.
You will not feel guilty when you spend and not feel fulfilled when you save.
This play account is to nurture or pamper yourself with luxury.
It rewards you and makes managing money a lot more fun and strengthens your "receiving" muscle.
Long Term Savings for Spending Account Account 10%
Impulsive buying is one of our weaknesses that many of us have experienced with regret.
Whenever we see a great advertisement of a great holiday getaway, we are tempted to go for it.
The problem is that we did not set a budget for it in the first place.
You need to put aside another 10% into this LTSS account just for you to spend in future.
This account is for you to buy a big ticket item like a new kitchen, wardrobe, a new car, a family holiday.
Education Account 10%
Education is often neglected even though we know deep down inside that we must grow all the time.
Upgrading our skills and knowledge should not be left to employers sending their employees for courses.
We must take responsibility for our own personal development by setting aside funds just for it.
Save 10% of your income into this Education Fund to pay for self improvement programs.
This is for your personal development account for buying books, CDs, DVDs, attend seminars
Give Account 10%
"Givers gain" philosophy
You will feel much better when you give money away to those who need it most.
Giving 10% or more shows you trust God for his providence and is a barometer of your faith.
This is for you to give away for charity, the poor in your area, your tithes and offerings.
Necessities Account 50%
Most people spend all the income on necessities and luxuries. Leaving little for the other 5 accounts.
Capping our necessities to 50% will create a balanced money management habit.
This account is to pay for mortgage, insurance policies, family expenses
Poor people think it is all about income, they believe you have to earn a fortune to get rich but the fact is if you manage your money following this program, you can become financially free on a relatively small income. If you mis-manage your money, you won't become financially free, even on a huge income.
Saturday, December 20, 2008
Millionaire Mindset You Can Have!
Many of us would love to have more money in their bank accounts. Yes?
Everytime we update our bank savings account book, we look at the balance amount with a blank expression. I believe many of us are not too happy with what we have just seen. Not enough zeros behind numbers we just saw in the bank book. Yes?
Whatever reasons you are tempted to give does not matter. You reap what you sowed, that's what most people are taught. Have you ever wondered why you sowed so little even though you "knew" that you had to sow more in the beginning?
The answer lies in our value systems deep down in our souls!
When our values do not match with what we intended to do, for example, that is to be RICH, to be a millionaire by age 40... we will never be one!
What is your deep down values? Do you despise, frown upon, dislike or hate the rich and their possessions? Do you stop others from thinking or dreaming about getting rich too?
Some people equate rich people as greedy people, rich people as corrupted people, people who pulled strings to get to where they were. Rich, is a negative word in their dictionaries.
These people will NEVER be rich. "FULL STOP".
If you want to learn how to be rich, read "Secrets of the Millionaire Mind" book authored by T. Harv Eker. Check out his website at http://www.millionairemindbook.com/ for a great transformation in the way you think.
Once you have decided to be RICH, give me a call at 9001-1082 and I will help you plan for your financial security and success! Yes?
Everytime we update our bank savings account book, we look at the balance amount with a blank expression. I believe many of us are not too happy with what we have just seen. Not enough zeros behind numbers we just saw in the bank book. Yes?
Whatever reasons you are tempted to give does not matter. You reap what you sowed, that's what most people are taught. Have you ever wondered why you sowed so little even though you "knew" that you had to sow more in the beginning?
The answer lies in our value systems deep down in our souls!
When our values do not match with what we intended to do, for example, that is to be RICH, to be a millionaire by age 40... we will never be one!
What is your deep down values? Do you despise, frown upon, dislike or hate the rich and their possessions? Do you stop others from thinking or dreaming about getting rich too?
Some people equate rich people as greedy people, rich people as corrupted people, people who pulled strings to get to where they were. Rich, is a negative word in their dictionaries.
These people will NEVER be rich. "FULL STOP".
If you want to learn how to be rich, read "Secrets of the Millionaire Mind" book authored by T. Harv Eker. Check out his website at http://www.millionairemindbook.com/ for a great transformation in the way you think.
Once you have decided to be RICH, give me a call at 9001-1082 and I will help you plan for your financial security and success! Yes?
Monday, December 01, 2008
Wealth Protection - How Much Is Enough?
Many times, we read about "other" people getting murdered, dying from accidents, dying from natural causes, committing suicide, sudden unexplained deaths at home and abroad, killed by terrorists and dying from major illnesses.
Has it ever occured to you that one day, that "other" person will be YOU? Other people also think that other people, not them, will be next to go. So who will be the next to die?
The Greek Philosopher, PLATO, once said: "There is no certainty than the certainty of death and there is no uncertainty than the moment and timing of death."
Death is certain but when will it happen? No one knows!
When that happens, are we prepared mentally, spiritually and financially?
Here I will address the FINANCIAL issues since we know for sure one day we will die...)
1) Upon death, we have to set aside enough funds for the family expenses and savings to last till our youngest child is independent financially. 25 years old is a good goal to set. You may want more if the child is not mentally capable to take care of itself.
2) But what if we don't die immediately, what if we are disabled after an illness or by a freak traffic accident? You may have to get an income that will take care of at least 75% of your monthly income till your intended retirement age. Most people can still get on with their lives after a reduction of 25% of their income by giving up some of their luxuries.
3) But what if we fall terribly sick and need lots of medical attention, both in and out of hospital? We need a good hospitalisation expenses reimbursement plan plus get an amount of money that can provide us with 3 years of our annual income as most people can't live past the third year. If you get past the third year, you will need another year or two to get back into the main stream society by taking enrichment courses or upgrade your skills. Another lump sum of 2 to 3 times your annual income will take care of any immediate expenses that you need to get out of the country to recuperate or spend it in any way you deem necessary to help you recover as soon as possible.
Remember, it is not the person who lies in the coffin who suffers BUT the surviving loved ones who will suffer if there is not enough financial provision. A traditional Chinese funeral can cost more than $30,000 in Singapore! Mourners will say "yes" to funeral directors when they are emotionally unstable. They want the best for the deceased.
So, if you think you want to do something now while you are alive, why not give me a call to discuss how a financial plan can prevent these miserable moments in your family.
Do you still want to provide the best for your loved ones when you are no longer around?
I can be reached at 9001-1082 if your answer is "YES"
Has it ever occured to you that one day, that "other" person will be YOU? Other people also think that other people, not them, will be next to go. So who will be the next to die?
The Greek Philosopher, PLATO, once said: "There is no certainty than the certainty of death and there is no uncertainty than the moment and timing of death."
Death is certain but when will it happen? No one knows!
When that happens, are we prepared mentally, spiritually and financially?
Here I will address the FINANCIAL issues since we know for sure one day we will die...)
1) Upon death, we have to set aside enough funds for the family expenses and savings to last till our youngest child is independent financially. 25 years old is a good goal to set. You may want more if the child is not mentally capable to take care of itself.
2) But what if we don't die immediately, what if we are disabled after an illness or by a freak traffic accident? You may have to get an income that will take care of at least 75% of your monthly income till your intended retirement age. Most people can still get on with their lives after a reduction of 25% of their income by giving up some of their luxuries.
3) But what if we fall terribly sick and need lots of medical attention, both in and out of hospital? We need a good hospitalisation expenses reimbursement plan plus get an amount of money that can provide us with 3 years of our annual income as most people can't live past the third year. If you get past the third year, you will need another year or two to get back into the main stream society by taking enrichment courses or upgrade your skills. Another lump sum of 2 to 3 times your annual income will take care of any immediate expenses that you need to get out of the country to recuperate or spend it in any way you deem necessary to help you recover as soon as possible.
Remember, it is not the person who lies in the coffin who suffers BUT the surviving loved ones who will suffer if there is not enough financial provision. A traditional Chinese funeral can cost more than $30,000 in Singapore! Mourners will say "yes" to funeral directors when they are emotionally unstable. They want the best for the deceased.
So, if you think you want to do something now while you are alive, why not give me a call to discuss how a financial plan can prevent these miserable moments in your family.
Do you still want to provide the best for your loved ones when you are no longer around?
I can be reached at 9001-1082 if your answer is "YES"
Subscribe to:
Posts (Atom)
