ARE YOU PREPARED? Breast Cancer sometimes won't give you Symptoms!

Hello Fellow Readers,

Again, I'm a Financial Services Consultant to different nationalities here in Singapore. I also discuss the concepts of financial planning. 

Thank you for the support and appreciation in my previous blog about opening the eyes of many people of how much can a normal hospital bills here in Singapore can be.

Recently, a company released a claim to regarding Breast Cancer.

Name and details about her will not be disclosed.

This person is a healthy individual who did not even realize she has BREAST CANCER until it went to its critical stage with just a simple Lump.

Below is the snapshot of the cheque sent to her amounting to $254,138.31

Why do I show this to you???

To show you that CRITICAL ILLNESS is common nowadays and it can happen to any of US. The chance of getting cancer right now is getting higher year by year. But the symptoms are not visible most of the time unless you go for a regular health screening.

Many times people who get into this kind of trouble have little or don't have an Insurance coverage for the lost of income and to fund the on going medical treatment which costs very high.

IT WILL BE SEVERAL TIMES HIGHER THAN YOUR NORMAL MONTHLY EXPENSES.. 

IT MAY ALSO RESULT IN BEING JOBLESS WHICH MIGHT SACRIFICE YOUR HARD EARNED ASSETS. 

Where will you get the money for this?? The best tool for this matter is thru Insurance. 

COMMON WAYS TO GET CRITICAL ILLNESS INSURANCE
1. Standalone Plan or Solely - Can buy alone just like a term insurance
2. Whole life plan/endowment -These policies are suitable for people who wants savings in a form of non guaranteed cash values.
3. Investment Linked Products (ILP)- Suitable for people who wants to have investment and insurance at the same time.

Good thing about this whole life and Investment linked product is that it generates cash values which can be withdrawn or keep inside the policy to generate more value for the rainy days.

Not having enough critical illness coverage is critical to one's portfolio. It will expose us to threats of losing our hard earned assets and welcoming emotional and social difficulties should we got diagnosed of those serious illnesses.

There are ways to reduce the risk of getting ill. Healthy diet with great supplements and proper exercise can reduce the risks tremendously. But this does not guarantee 0% risk free.

There's a lot of critical illness that might strike any of us. Other famous serious illnesses are Stroke and Heart Attack.

PLEASE CHECK YOUR FINANCIAL PORTFOLIO.

THEN ASK YOURSELF, IS IT REALLY ENOUGH???  OR DO I HAVE A COVERAGE FOR CRITICAL ILLNESS?? AM I FINANCIALLY AND EMOTIONALLY PREPARED FOR THIS IF ANYTHING WERE TO HAPPEN?

If your answer is no or not sure, best is for you talk to a Licensed Financial Services Consultant.

Check what can be done for you.

Cheers!

Lesson #1: Emergency Fund (Back up Plan)

Hello Fellow Professionals,

Its been awhile.
I hope everyone is doing great and optimistic with your Financial Portfolios.

Let's discuss the foundation of Financial Planning.

What is emergency fund?

Its a fund that is normally being used for unexpected events in ones life such as losing a job, unexpected family matters, etc. It is one of most important aspect of Financial Planning and also the most liquid asset class in your financial portfolio.

Please be informed that Emergency Fund is NOT fully used for hospitalisations, accidents, critical illness, disability or death. These uncertainties are being managed differently and separately.

Transparently, in my line of profession as a Financial Consultant, with so many people I talked with, Im no longer surprise to hear from many people even from Filipino Overseas Professional (accountants, engineers, managers, nurses, etc) these following answers when I ask them if they have or aware of the Emergency Fund...

These are the common answers:

"Oh, Emergency Fund? What is that?" -You need it I assure you!
"I don't have one. I have so much obligation to my family." -The more obligation the more important it is
"Im paying many investments now." -That is why you need to have one!

How to make an Emergency Fund?

Accumulating your Emergency fund is a real challenge specially to people whose hobby is spending.(travel, shopping, etc).
Computing your fund also requires self confidence about an estimation of how many months do you need to look for another job should you lose your current one.

If you are Single, the normal month range is 3-6months
For married couple with kids is 6-12months.

It depends on your comfort level but follow the range guidelines above. Please do not make it more than one year as it will be saved only in a normal Savings Account and can only earn a very low interest rate of below 1% per year while inflation is set at average 4%. This fund is meant not to earn interest but only a back up for contingencies.
Most of you might be thinking why normal Savings Account?
It must be easy to withdraw should there be any emergency events. This is not meant to be used for sale event in EXPOs, IT Sales, etc... PLEASE! PLEASE! PLEASE!

Accumulating your Emergency Fund needs discipline and commitment to a stabilised and strong financial portfolio. You need to save month by month until you reach the desired month range target. The time you have accumulated enough make sure that its not mixed with your normal savings. You need to open a new savings account in other bank. Do not focus on investments if you don't have this and insurance yet. The less you save for this fund, the harder the fall on your Financial Collapse. Below is the sample on how to compute Emergency Fund:

Why is Emergency Fund very Important in our portfolio?

Emergency Fund is one of the most important liquid asset one can have in terms of doing proper financial planning. Its main purpose is to support all your current obligations and lifestyle should a person lose a job unexpectedly.

Imagine yourself losing a job without any Emergency Fund in a situation you are the breadwinner or someone with many financial obligations such as property amortisations, insurance, investments, etc...

What do you think will happen to all your obligations??

It might be wiped out or for some, they borrow big sums just to provide or pay for all the obligations. Should that be the case, you will be in deep trouble financially. 

Please be reminded that failing to plan is a plan to FAIL.

Act now for yourself and family.

If you need assistance or guidance about financial planning basics, I will be glad to share it to you.
Please stay tuned for more Financial Planning Basics soon..

For more of this kind of informative blogs and posts,
Please like or message us on our FACEBOOK Page: Filipino Save Invest Secure SG
In the upper right part of this blog are the awards given to the blogger.

BE VIGILANT! Health Uncertainties

Hello Fellow Readers,

Again, I'm a Financial Services Consultant to different nationalities here in Singapore. I also discuss the concepts of financial planning. 

Thank you for the support and appreciation in my previous blog about opening the eyes of many people of how much can a normal hospital bills here in Singapore can be.

Recently, a company released a claim to regarding Breast Cancer.

Name and details about her will not be disclosed.

This person is a healthy individual who did not even realize she has BREAST CANCER until it went to its critical stage with just a simple Lump.

Below is the snapshot of the cheque sent to her amounting to $254,138.31

Why do I show this to you???

To show you that CRITICAL ILLNESS is common nowadays and it can happen to any of US. The chance of getting cancer right now is getting higher year by year. But the symptoms are not visible most of the time unless you go for a regular health screening.

Many times people who get into this kind of trouble have little or don't have an Insurance coverage for the lost of income and to fund the on going medical treatment which costs very high.

IT WILL BE SEVERAL TIMES HIGHER THAN YOUR NORMAL MONTHLY EXPENSES.. 

IT MAY ALSO RESULT IN BEING JOBLESS WHICH MIGHT SACRIFICE YOUR HARD EARNED ASSETS. 

Where will you get the money for this?? The best tool for this matter is thru Insurance. 

COMMON WAYS TO GET CRITICAL ILLNESS INSURANCE
1. Standalone Plan or Solely - Can buy alone just like a term insurance
2. Whole life plan/endowment -These policies are suitable for people who wants savings in a form of non guaranteed cash values.
3. Investment Linked Products (ILP)- Suitable for people who wants to have investment and insurance at the same time.

Good thing about this whole life and Investment linked product is that it generates cash values which can be withdrawn or keep inside the policy to generate more value for the rainy days.

Not having enough critical illness coverage is critical to one's portfolio. It will expose us to threats of losing our hard earned assets and welcoming emotional and social difficulties should we got diagnosed of those serious illnesses.

There are ways to reduce the risk of getting ill. Healthy diet, exercise and eating healthy foods can reduce the risks tremendously. But this does not guarantee 0% risk free.

There's a lot of critical illness that might strike any of us. Other famous serious illnesses are Stroke and Heart Attack.

PLEASE CHECK YOUR FINANCIAL PORTFOLIO.

THEN ASK YOURSELF, IS IT REALLY ENOUGH???  OR DO I HAVE A COVERAGE FOR CRITICAL ILLNESS?? AM I FINANCIALLY AND EMOTIONALLY PREPARED FOR THIS IF ANYTHING WERE TO HAPPEN?

If your answer is no or not sure, best is for you talk to a Licensed Financial Services Consultant.

Check what can be done for you.

Cheers!

OPEN YOUR EYES!

Dear Fellow Professionals,

Well, Im just a small fish in a very big pond writing to open up as many eyes as possible about what can happen to you if you FAIL to protect yourself.

Please bear with me. This is my first time doing a blog and I hope I can reach out even more to public and show what's really happening.

Last July 25, a friend of mine (name wont be disclosed) got into an accident here in Singapore while staying here as a tourist. It happened in Raffles area while crossing the street. The accident gave her a broken left leg that needs surgery and wounds in the right leg. She stayed in Singapore General Hospital and was warded in B Class ward for only 4days.

I managed to visit her on 28th of July, her last day in the hospital. On my visit, what I just wanted to do is to cheer her up since she feels alone because all her families are in the Philippines.

After a few moment, the staff nurse asked me to go to the Business Office and get the bill. To my surprise, it went up to $20,565.10! It's equivalent to P650,000 just in 4 days! Please see the photo below for the actual bill...

While my other friend is looking for a lawyer to help us speed up the process since we will be claiming from the insurance of the taxi company. Another friend of mine come to the rescue to settle a partial amount for her to be discharged and stop the meter of the hospital from running.

Now, my friend is recovering.

By the way, the doctor still wanted her to go back for a follow up treatment after couple of weeks. She will be extended here for follow up treatments. And that will incur a lot of costs again.

WHY DID I SHARE THIS STORY???

Imagine yourself in her shoes, as a working individual, single or married. Yet, you always think like...
"It's just a cost for me here!"
"Not my priority"
"I got a lot of things I need to settle right now, I don't have a budget for that"
"Well, I've never been hospitalised since I was born"
"If nothing happens to me, I just wasted my money"

Well anyway, who in a normal state of mind would want to get into an accident or even an illness.. of course NO ONE!

This is what we call Wealth Protection of Financial Planning.

Most of us thinks that its just a waste of money! For those people who think that way, I stand firm in my decision that you are very very wrong! We experienced it badly. Those people who don't even bother protecting themselves are always the ones who end up using all their life savings, investments and all of their assets just to pay for the bills. I've seen this happen so many times but still so many people don't understand what they're doing.

Guys, WAKE UP! Life is not just about us... Its also about the people we loved. Have you ever think that whatever happens to you, it will affect your financial stability and without good financial support, physically and mentally people around you will get drained as well.

Investments you have right now will not guarantee you exactly where it will turn out, but one of these five might hit you earlier...
-Death
-Disability
-Critically Ill
-Accidents
-hospitalised

Imagine what will happen to you and your family if any of that seriously hit you...

I don't say not to do investment or anything that will generate more wealth for you guys. Im pointing out here that we should all give an importance to protecting yourself as you are the main important asset. With enough protection, you can guarantee yourself with full care and support without sacrificing all your hard efforts.

Im a Financial Services Consultant of AIA for 5 years now. Below:

-Investment and Savings Planning
-Retirement Planning
-Insurance Planning
-Tax Planning Basics
-Estate Planning
-Cash Flow Management

I recently finished and passed my studies about Estate Planning In Wealth College of Singapore and taking my Certificate for General Insurance to expand more the services I can provide to my clients.

I hope this go across many people to think and remake their financial portfolio. Its never too late to plan. The most important is DECIDE...

Please like my page: Save Invest Secure's Your Financial Advisor in SG

GOD BLESS!!!