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  #1840 (permalink)  
Old 01-01-2014, 01:28 AM
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Default Thanks lazyplane and Happy New Year

Wife purchase insurance as she does not contribute to CPF.

Myself is not a believer in insurance as a savings as it would take at least 20yrs to break even. Therefore my insurance is loading on term, medical rather than life.

I didn't top up wife CPF as she work part-time (not high income) but not qualify for tax deduction.

I started contribute SRS since last year, thinking of reducing my taxes and accumulating "locked" fund for shares.

Future is worrying as company business is slowing down and cannot see any good prospect.

Have high expenses on children, family and parents.

Don't think wife would bother to listen. As a man and sole breadwinner, I am looking to save more of my own expenses (own taxes, food, car, clothing, etc) and resolve it.

Seeking for part time income and non-high risk investment of my cash not wife's cash.

Thus started in SD and SN recently. Not into unit trusts as have done that more than a decade ago and don't think that is good.

Perhaps going into bonds but have no idea about it. Therefore have been topping up in my SA for past few years to earn safe 4% return.

As for property, definitely don't think is a right time now and does not want to commit with high loan due to job insecurity.


Originally Posted by lazyplane View Post
Any particular reason why you load your wife insurance so much but do so little insurance for yourself ?

Might want to reconsider this since u r main breadwinner.
Insurance main aim is not capital appreciation but capital protection despite what the agents may say.

Some tips i can offer:

1. Top up wife CPF since she not working to get tax rebate
2. Use SRS for your stocks / Notes. Top up more often. Yours seem low compared to your huge cash.
3. Honestly dont worry about seeking higher yield(and i assuming >5% since your notes give you 5% already) for your cash. Time it carefully.

You sound a bit worried about the future. To me that is not a good frame of mind to be seeking high yield in equities etc.

Truth be told, you are financially stable. You just dont realise it. My final advise is that f i am you, i will talk to my wife more often and learn from her how she can cope about the "future" vs your existing approach.
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