Writing a Will

Dear Mr Tan

I like to thank you. Your Blog is always helpful.

I visited the "NTUC Income : Know Your Insurance" website and went through the "Personal Accident" and "Making a Will" sessions.

I contacted the NTUC customer service officer to find me a lawyer to help me in drawing up my Will. She recommended a lawyer who quoted $157.50 for a simple will. This is much cheaper than another law firm that I approached earlier.

Starhub Mobile

I subscribed to Starhub Mobile recently. It had the following advantages:

* free incoming calls
* free IDD calls (018) to several countries, including Malaysia, China, Hongkong, Taiwan and USA

As I have to call these countries frequently, the free IDD call was quite useful to me.

Surgical operation was not helpful

I know of someone who passed away recently. He was over 70 years. He had been on kidney dialysis for many years. He spent two months in a public hospital but they did not operate on him.

Later, he went to a private hospital to carry out an operation. He passed away from some complication arising from the operation. The medical bill was $60,000.

Lesson: Avoid taking an operation at an old age, unless it is clear that the operation is useful and is not risky. Seek a second opinion before carrying out the surgery.

Brief History of Science in Early Singapore

As the founder chairmen of Singapore’s Science Council, Singapore Institute of Standards and Industrial Research, Singapore Standards Council and a member of Singapore Polytechnic’s Board of Governors, Dr. Lee Kum Tatt was one of our early pioneers who was in a good position to coordinate the application of science to Singapore’s development.

Pioneers always face uncertainties and dilemmas. Dr. Lee shares with us his personal feelings of those times. Dr. Lee also shares with us what he considers as some of the important factors that made Singapore what it is today. Read about his accounts on this subject in his blog.

How to apportion the investments?

Dear Mr Tan,

Is it a good time to invest in unit trusts, since the share price have shoot so high? If yes, what type of unit trust will you recommend?

How about placing the extra money in fixed return like policy? Example "Growth" policy from NTUC Income with fixed return for 8 years?

I have about $100,000 saving. How should be investment be apportioned?

REPLY

I suggest that you read this FAQ. Although the points were written three months ago, they are still relevant today.

Invest in bonds now?

Dear Mr. Tan,

At present, I have stocks worth about S$200,000. As stock prices are high, I am considering to sell them and re-invest my money in another type of investment.

I understand that bonds are a good and safe investment. Do you agree? Is there any good bond investment that you can recommend? I want my money to work harder for me, as I am retired now.

REPLY:

I suggest that you read this FAQ. Although the points were written three months ago, they are still largely relevant today. I hope that you find them useful.

Two currencies system

I first visited China in 1987, i.e. 20 years ago.

The law at that time require tourists to use the "foreign exchange certificate", which is different from the "reminbi" used by the local people.

I have a few foreign exchange certificate kept for 20 years. It is like a currency note, but has the following statement ...

BANK OF CHINA. Foreign Exchange Certificate

The yuan expressed in this certificate is equivalent in value to the Reminbi yuan. This certificate can only be used within China at designated places. No request to register its loss will be accepted by the Bank.

All tourists were required to buy and use the foreign exchange certificate. The conversion rate is higher than the local yuan. This is China's way of making tourists pay a higher price (compared to the local people) for the same goods and services.

In subsequent years, China had developed its economy. It ceased the use of the foreign exchange certificate. Tourists now use the same currency (ie Reminbi yuan) as the local people.