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4 Financial Moves Freelancers And Gig Workers Should Consider To Better Plan Their Personal Finances

Published by Autumn on November 03, 2020 The lifestyle of a freelancer or gig worker differs significantly from that of a person employed full-time. For starters, your definition of an office is very different – you can be working from home, at a café, or hot-desking at a co-working space. It can also mean starting at 8 a.m. if you’re an early bird, or burning the midnight oil if your creative juices flow better after sunset. However, being your own boss comes with its own set of challenges. As a solopreneur, you’re on your own. You’ll have to handle

A 7-Step Financial Checklist To Get You Started On Your Financial Journey

Published by Autumn on 6 April, 2021 Financial planning need not be complex if you break it up into smaller steps. When take one step at a time, planning for the future doesn’t seem daunting anymore. You don’t need a lot to start building your wealth - the important thing is to start now regardless of which life stage you are at. Here’s a 7-step financial checklist to get you started. 1. Set realistic money goals for the year Instead of setting a resolution you won’t stick to, give yourself specific goals instead. If you’re stuck on setting

How To Plug Your Insurance Protection Gap (In Any Life Stage)

Published by Autumn on November 03, 2020 An insurance protection gap is typically the difference between how much money you will need compared to how much money you will have in the event of an unfortunate scenario. For example, you may estimate that it will take $360,000 to raise and educate your newborn he or she enters the working world and becomes financially self-dependent. You will be working for the next close to two decades to afford this. If you do not have any savings or life insurance, your insurance protection gap is $360,000. If you already have some

Why CPF LIFE May Be Insufficient For Your Retirement

Published by Autumn on November 03, 2020 Planning for retirement isn’t fun. Nor will it give you any near-term gratification. This is why many people prefer to prioritise other, more satisfying, goals such as saving up for a holiday and buying a new car, or more urgent needs such as buying health insurance and saving up for their home down payment. This mindset is underscored by the OCBC Financial Wellness Index, which found that 65% of its respondents claim to be behind in accumulating enough funds to maintain their lifestyle after retirement. Should CPF be your only retirement plan?

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