Talk on Managing Your Finance

I gave a talk on Managing Your Finance for young teachers. Here are some of the questions asked by them.

1. Please explain the products - bonds, equities, blue chips

2. Any advice on investing CPF savings?

3. How much is the fee of an independent financial adviser? Any tips on selecting a good adviser?

4. If I buy term insurance directly, do I still need to pay commission?

5. What are the risks of investing in properties at this time?

6. I have invested in a fund which is losing money year after year. Is it better to withdraw from this fund (cut loss) and invest in another fund?

7. What is an education policy? I was told by my agent that I should buy a living policy for my child instead of an education policy as it serves the same function and have life coverage.

8. Do you advise us to buy critical illness policy? Does the medical benefits for teachers cover critical illness?

9. How can I buy the STI Trakker fund? Is it a good buy at this time?

10. I am 51 years old. Is it too expensive to buy term insurance now?

11. I am on a pension scheme. Should I buy insurance?

12. Why are there no encouragement for older government servants to enjoy the fruits of their labour, instead of work, work. Older teachers like to continue to stay for the long term ,but most cannot cope with the stress .Why should there be so much stress for older teachers who have already worked for 30 yers? They have already stressed a lot when they were young.

13. I presently have a few living policies paying about $2,000 yearly for each policy. Should I terminate them and convert them to term insurance policies?

14. I want to buy a medical insurance to cover H&S for my daughter (20 years old). What kind of insurance should I buy for her. Is Medishield insurance good enough? What insurance plan would your recommend? she is a NUS undergraduate.

15. STI Trakker fund is not liquid. To buy or sell it is a hassle. Why do you recommend it?

16. What are some institutions I should start investing with? POSB? DBS? NTUC Income? others?

17. My son had a heart operation when he was 5 months old. He is now 7 years old and is well and healthy. However, I was not able to get any insurance for him. Any advice?

18. Do you think that the sub-prime turmoil is approaching its end?

19. Currently, I intend to buy an insurance plan. I asked for 2 quotations. Both are similar in terms. Monthly premium $120 for 20/ 30 years. Covers death, total permanent disability ,terminal illness. Return of $99,000 after 20/30 years. Is this a good plan?

20. What is the minimum amount that can be invested in the STI Trakker fund?

21. What do you think of land investment like Canada land Investment by Walton?

12. What do you think of Eldershield policy for medical coverage? Can you comment on the Eldershield Plus that is coming?

I shall answer them in separate postings.