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Can Insurance Be A Tool For Investment? (2018 Update)

Posted by admin
on May 2, 2018

Can Insurance Be A Tool For Investment? (2018 Update)

KEYWORD PHRASES: Insurance investment products 

 

insurance
insurance

 

 

 

 

 

 

People are usually attracted to idea of growing their wealth with the help of their limited earnings. This is why they tend to have a positive outlook towards investments. But when it comes to insurances, everybody associates it with all the unfortunate incidents in life like death, critical illness, and accidents. Talking about insurance is never a good idea in a social gathering, as it makes everyone morose.  

But this is slowly changing. Financial planners are even trying to use insurance as an investment tool. They try to seek out the best of both worlds for consumers by linking investments with their insurance policy. Products like Investment-Linked Insurances Policy (ILP) have both insurance as well as investment components. It’s important to note that both insurance and investments are crucial for your financial profile. You need investments to increase your wealth, for better lifestyle, and for a comfortable life post-retirement. On the other hand, as you go through various stages of life, the number of dependent people increase. The right insurance policies will ensure that your family is financially stable even if you are not around. But is it a financially viable option to combine investments with insurance coverage? The answer depends on your financial goals and risk tolerance.  

Here is a brief overview of Investment-linked Insurance Policies in Singapore, their potential benefits and the risks involved. 

What are Investment-linked Insurance Policies? 

According to MoneySense, a National Financial Education Programme for Singapore, Investment-linked insurances policies (ILPs) have both life insurance and investment components. The policy requires you to pay for units for sub-funds of your choice. A part of the premiums you pay is used for investing in these sub-funds whereas the remaining amount is used to pay for insurance coverage.  

ILPs provide insurances protection in the event of unfortunate events like death, motor-vehicle accident, critical illness, total or permanent disability (TPD), etc. Depending on the policy, the death or TPD benefit may comprise the higher of the sum assured or value of ILP units or some combination of the sum assured and the value of ILP units. The money you get depends on the value of the units at that time.  

ILPs are ideal for those who have a strong inclination towards investments as opposed to getting an insurance policy. It provides a way for the investor to be happy about getting to invest in the sub-funds of her choice and at the same time gives the satisfaction of having insurance coverage. However, if your priority is for a stronger insurance coverage, then you should consider other insurance products that are not linked to investments.  

The MoneySense website classifies ILPs into two major categories:  

Single Premium ILPs:  

You pay a lump sum premium to buy units in a sub-fund. Most single premium ILPs provide lower insurance protection than regular premiums ILPs. 

Regular Premium ILPs:  

You pay premiums on an ongoing basis. Regular premium ILPs may allow you to vary the level of insurance coverage you need. 

The benefits of insurance investment products 

One of the key benefits of linking investment with insurances is that you get to enjoy potential returns as well as life protection at the same time. To add to that, there is a wide range of sub-funds to choose from. You can opt for sub-funds that adhere to your risk-tolerance. And some financial advisors also allow you to switch your sub-funds after charging you a nominal fee. You also get the flexibility to vary your investment mix and insurance coverage based on your evolving financial needs.  

Investors may optimize the returns with the help of professional fund management knowledge provided by renowned investment advisors. And the cherry on the cake is that it is exempt for all estate duties.  

The risks and pitfalls of insurance investment products  

One of the main downsides of linking insurances with investment is that the value of your investment is directly linked to the movement of the market, and the risks are higher. So, if the market is at all time low, your investments will go down. Although even the opposite is possible, the risk involved in ILPs is much higher. Another disadvantage of using ILPs is that the units you purchase could be insufficient to cover your insurance fees. ILPs are also known to have high sales charges. In most cases, you will end up paying a huge incentive to your financial agent. As per a report by Dollar and Sense, this incentive can be atleast worth the premium you pay for one year.  

The reason for high sales charges could be your growing age and a steep fall in your immunity. Therefore, insurance companies label you as a riskier client. To lessen this risk, insurance companies ask for higher fees for older policyholders – even if you keep the same coverage. 

This means that every year, even if you are paying the same amount of money for your policy, your premiums can buy fewer investment units to pay for your higher-costing insurance charge. 

This is especially risky for those whose accounts combine a high insurance coverage and a sub-fund that isn’t performing well because the cash value may not be enough to pay for the life insurance’s coverage charges. To fix this, you may either raise your premium payment or lessen the insurance coverage. 

The final verdict 

When planning to invest in anything, remember to take time to study and understand what you are deploying your money to. 

Now if you ask whether insurances can be a tool for investment? The answer is yes, but just like a regular investment option, your insurance linked investment policy involves high risk. So, if you’re up for it, indeed go for it.  


Quick Credit Pte Ltd

Quick Credit Pte Ltd is the best money lender you will be able to find in Singapore. Anything cash related, we will be able to help you. Our well train loan consultants will be able to come up with a good loan package to help you clear off all your outstanding bills or debts. In doing so, you will help you keep better track of all your expenses and money. We have been a licensed money lender since 2002.

We have the skills, knowledge and people to assist you through the entire loan process while providing you with excellent advice.

In addition, we have one of the highest positive moneylender reviews among money lenders in Singapore. Furthermore, Quick Credit is also one of the few moneylender open on Sunday!

Interested in knowing more about how you can get a loan from us? You can drop us an email at enquiry@quickcredit.com.sg. Our manager will get back to you as soon as possible. Or you can drop us a message here and our manager will get back to you soon.

Alternatively you can call us at +65 6899 6188. Or visit our office at 2 Jurong East Street 21 #04-01A/B IMM Building Singapore 609601. The nearest MRT station to us will be Jurong East Station.

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How To Mix Up Your Financial Portfolio (2018 Update)

Posted by admin
on April 16, 2018

How To Mix Up Your Financial Portfolio 

KEYWORD PHRASES: Building an investment portfolio from scratch. 

It’s one thing to have an investment portfolio and another to have a thoroughly diversified one. For those of you who are building an investment portfolio from scratch, it is crucial that you have a good mix of various types of investments. A profile comprising of only stocks and bonds in Singapore or only real estate may not be a wise way of handling your finances.  

All investors, invest with the sole aim of growing their wealth and the biggest deterrent in their path is risk. Anyone who wishes to invest has to either reduce the risk involved in the investment or increase their own risk tolerance. Either ways, risk is a factor that can make or break your financial endeavours. Having the right mix of investments helps in reducing the risk involved. When you allocate your assets in just one type of investment, you face the risk of losing all your capital if that investment fails. For example, you might assume that Google stocks will never go down but you can never know that for sure.  

 

Financial portfolio
Financial portfolio

 

 

 

 

 

Having said that, there are some profound investors who don’t agree with this strategy. Warren Buffett, a billionaire investor said that ‘diversification is protection against ignorance.’ According to him if you know the ins-and-outs of the one company or sector you have invested in, then you don’t need to diversify your assets. But the average Singaporean investor seldom works towards acquiring that amount of knowledge to be extremely sure of their investments. Hence, diversification works for beginners, skeptics and workaholic investors.  

What are your investment options? 

Stocks and Bonds 

Stocks or shares are a part of the ownership of a company. It represents a claim on the company’s assets and earnings. This option is viable for people who don’t mind taking moderate to high levels of risk to earn high returns.  

Real Estate Investment Trusts 

Real Estate Investment Trusts (REITS) are a great way for people to get into the property game. In Singapore property investments are rampant as it is a good way to earn passive income. The risk investors have to bear while investing in property is the rising interest rates.  

Exchange Traded funds 

ETF is another investment option that is traded in the stock market. So when you buy an ETF, you are buying into a basket of weighted shares. One example of this is the Strait Times, which is a collection of 30 stocks in Singapore.  

Cryptocurrencies 

These cryptocurrencies are increasingly being used for trading purposes. It’s volatile nature makes it ideal for investors to earn or lose large sums of money. Bitcoin, ethereum and litecoins are the three main types of cryptocurrencies in the market.  

Savings Account 

This is one of the most conventional ways of investing. If you are building an investment portfolio from scratch then you certainly need to begin by opening a savings account in a bank that has high interest rates.  

Insurance  

If you opt for an investment linked insurance policy, then you have both life insurance and investment components. Your premiums are used to pay for units in investment –linked fund(s) of your choice. 

 

Factors to consider while allocating assets 

Age 

Some financial experts consider age to be a crucial factor in determining your asset allocation. According to a report published in Life Hacker, a common rule of thumb is that: 110 – your age = the percentage you should be investing in stocks. The whole idea of considering age is to make your financial profile less volatile as you grow older.  

Risk tolerance 

This is one of the biggest factors that all investors consider while allocating funds for various investment options. Your ability to lose a particular sum of money can determine the amount of risk you will take with your investment choices. In order to be a successful investor, you have to master the art of risk management. 

Investment goals 

Your investment goals depend on when you plan to retire, the number of people dependent on you, and the profession you are in.  

Achieving the right balance 

To begin with, you can either consult a financial advisor or take an online quiz to understand your risk tolerance. Once you have understood your financial standing, risk capacity and your long and short term financial goals, then you can actively work towards diversifying your asset allocation.  

Everyone’s financial situation is different but there are a few generic tips that can help you achieve the right balance. One of them is to invest in index funds. Index funds are representative of the stocks of the entire market.  

Other strategies that help in diversification are buy-and-hold and dollar-cost-averaging. Buy-and-hold refers to buying stocks and holding them for a long period of time. It is a passive-income strategy that most Singaporeans use for their investment profile. Dollar-cost-averaging technique of buying a fixed dollar amount of a particular investment on a regular schedule, irrespective of the share price. 

The bottom line is that with the right balance of investment options and the correct knowledge of managing them can help you fetch long-term results. It’s up to you as to how to you balance your assets to achieve the best possible results. Let us know how you managed to mix up your financial profile while building an investment portfolio from scratch. 

 


Quick Credit Pte Ltd

Quick Credit Pte Ltd is the best money lender you will be able to find in Singapore. Anything cash related, we will be able to help you. Our well train loan consultants will be able to come up with a good loan package to help you clear off all your outstanding bills or debts. In doing so, you will help you keep better track of all your expenses and money. We have been a licensed money lender since 2002.

We have the skills, knowledge and people to assist you through the entire loan process while providing you with excellent advice.

In addition, we have one of the highest positive moneylender reviews among money lenders in Singapore. Furthermore, Quick Credit is also one of the few moneylender open on Sunday!

Interested in knowing more about how you can get a loan from us? You can drop us an email at enquiry@quickcredit.com.sg. Our manager will get back to you as soon as possible. Or you can drop us a message here and our manager will get back to you soon.

Alternatively you can call us at +65 6899 6188. Or visit our office at 2 Jurong East Street 21 #04-01A/B IMM Building Singapore 609601. The nearest MRT station to us will be Jurong East Station.

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How Do You Review Your Investment Portfolio (2018 Update)

Posted by admin
on April 10, 2018

How Do You Review Your Investment Portfolio (2018 Update)

KEYWORD PHRASES: How to do investor profiling, types of investor profile

Once you have created your investment profile, the next task is to make the most of it. And to do that you need to review your investments from time to time. A lot of traders fail to check their profile as and when required and as a result end up making knee-jerk decisions while investing. Your financial profile needs to be reviewed at least twice a year so that you can rebalance your investments, curtail your losses and develop a successful strategy for managing risks.

investment portfolio
investment portfolio

While going through your profile, you need to focus on quality or quantity. The trick is to not make hasty decisions based on quarterly results as it can have a negative impact on your overall returns. Also, always checking your profile may do you more harm than good. Most people tend to hate losing money as opposed to making it. If you constantly keep going over your investment profile, your decisions could be based on your aversion to making losses. Though this conservative approach may prevent your losses but it will also hinder your growth prospects. So, the best way to go about reviewing your financial profile is by using the following parameters to review your investment profile, and the tips mentioned below:

Parameters to review your investment portfolio

Investment goals

Every investor has a set of financial goals that they plan to achieve through their investments. From being able to retire early or growing your wealth by x percent over a period of time, people have all sorts of financial goals. While reviewing your investment profile, you need to see if your investments are showing progress. You could even set milestones for your goal and see to it that everytime you review your profile you are moving closer to your investment goal.

Risk to reward ratio

Risk is the uncertainty of getting the returns you expected at the time of making the investment.The risk/reward ratio is data that investors use to estimate the expected returns and the amount of risk involved. It is calculated mathematically and is used to measure trading individual stocks. While you keep track of the risk to reward ratio, you need to balance you risk-return trade-off. We all know that risk and return are directly proportional. High risk options like equities tend to give higher returns whereas investing in cash, deposits, and liquid investments have virtually no risk but provide low returns. Investing in bonds, debentures, mutual funds have some risk and provide moderate returns. While checking your investment portfolio, you need to be mindful about the risk and return trade-off for your investments.

Asset allocation

Asset allocation is dividing your investments in different asset classes like stocks, real estate, equities, bonds etc. It differs based on your capacity to handle market related fluctuations and is in a way a reflection of your personality. You may have done this while building your investment profile but over a period of time the proportion of funds allocated to each investment option may vary. Make sure your investment goals align with your current asset allocation.

Diversification

Diversification is the prime goal of the conservative investor. The rationale behind diversification is that when you spread your investments across various asset classes and industry sectors, you drastically reduce the risk of making losses. So if one particular asset class or company fails to perform well at the stock market, you have other investments that can balance out your losses. Reviewing your portfolio regularly will prevent you from investing in just one asset class or company.

Tips for reviewing your investment profile

Schedule periodic portfolio checks

As mentioned above reviewing your portfolio very frequently can have a negative impact on your investment returns. And not reviewing for prolonged periods of time can also work against your investment strategy. Ideally, you should review your investment portfolio 3-4 times a year. However if you are opting for individual stocks, then you need to check your portfolio more frequently.

Evaluate the performance of your investments

This goes without saying, when you review your investment portfolio at a macro level, you need to identify the investments that are fetching you higher returns and those that are causing you losses. Based on this evaluation you can take a call as to where else you need to invest and get rid of the stocks that have consistently been underperforming. If need be, you can even consult with a financial advisor to make the necessary changes in your profile.

Rebalance your assets

Financial experts suggest that you should rebalance your assets at least once or twice a year. Rebalancing is the process of realigning your asset allocation to match your desired mix of investments. It involves buying and selling of assets based on the overall performance of your investments.

What is your investment strategy and how do you review your investment portfolio. Let us know in the comments section below.

 


Quick Credit Pte Ltd

Quick Credit Pte Ltd is the best money lender you will be able to find in Singapore. Anything cash related, we will be able to help you. Our well train loan consultants will be able to come up with a good loan package to help you clear off all your outstanding bills or debts. In doing so, you will help you keep better track of all your expenses and money. We have been a licensed money lender since 2002.

We have the skills, knowledge and people to assist you through the entire loan process while providing you with excellent advice.

In addition, we have one of the highest positive moneylender reviews among money lenders in Singapore. Furthermore, Quick Credit is also one of the few moneylender open on Sunday!

Interested in knowing more about how you can get a loan from us? You can drop us an email at enquiry@quickcredit.com.sg. Our manager will get back to you as soon as possible. Or you can drop us a message here and our manager will get back to you soon.

Alternatively you can call us at +65 6899 6188. Or visit our office at 2 Jurong East Street 21 #04-01A/B IMM Building Singapore 609601. The nearest MRT station to us will be Jurong East Station.

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Should You Invest in Singapore Savings Bond? (2018 Update)

Posted by admin
on March 20, 2018

Should You Invest in Singapore Savings Bond?

KEYWORD PHRASES: Singapore Savings Bond  

 

Singapore Savings Bond
Singapore Savings Bond

 

 

 

 

 

 

It’s crucial that you invest to have a secure and safe future. Investing your money enables you to double its value and gain a return on it. Having investments is crucial if you don’t want to have a comfortable future due to smart investments you have made in the past.  

However, the question always arises – Where should you invest?  

Singapore Savings Bond is a basic investment option available to the public. In fact, it’s considered a standard investment in Singapore.  

What is Singapore Savings Bond?  

Launched on 1st October, 2015, the Singapore Savings Bond is a security offer by the Singapore Government which is accessible to public, individual investors. They are a part of Singapore Government Securities. Singapore Savings Bond works like a Singapore Savings Fixed Deposit. The government’s aim is to offer investors access to a long-term interest investment with great flexibility.  

The bond is issued on the first day of every month and investors receive a regular interest payment every six months. The longer the investment period, the higher the interest payment.  

Why should you invest in Singapore Savings Bonds?  

Secure and Low Risk  

Singapore Savings Bonds is secured and backed by the Singapore government. Additionally, these bonds are principal-guaranteed investments backed by the triple A rating. This rating signifies a very low risk of default. If you are looking for safe investment, then Singapore Saving Bond is an appropriate option.  

Flexible  

As mentioned before, Singapore Savings Bond offers great flexibility. Investors are able to get their money back at any time, without any consequences or financial penalty. For example, if a life emergency requires you to access a lump-sum fund, you can withdraw your investment from these bonds without experiencing a financial penalty.  

High Returns  

The longer an individual maintains the investment, the higher the interest she will receive. Below is the current forecast if you invest $500 in your account.  

 

If you don’t withdraw the bond for 10 years, you are looking at an interest of slightly over $100, with an effective return of 2.11% return per year.  

The interest rate of the Singapore Savings Bonds varies. It is dependent on the economy and the time period you keep it. When the bond is issue by the Singapore Government at the beginning of the month, the bonds are assign the interest rates. Here’s a look at the interest rate assigned for the bonds of March, 2018.  

 

Easy to Apply for Singapore Savings Bond  

It’s not difficult to apply for your own Singapore Savings Bond. The requirements are quite basic.   

  • Have a bank account with one of the following banks: DBS/POSB, OCBC and UOB 
  • Have an individual Central Depository Securities account  

Low Amount Barrier  

Investing in Singapore Savings Bond does not require a large amount. It starts at $500 and can go upto $50,000.  

All of these elements make Singapore Saving Bond one of the most secure and easiest investments to make.  

How Long should you Invest? 

While the bond tenor is 10 years, you do not have to maintain that investment period. The obvious answer to the above question is that the longer you invest, the higher your return.  

Whether you are thinking of withdrawing your investment after a year or 5 years, you can use Singapore Savings Bond’s rate calculator to estimate your return. This way you can make a decision on how long you would like to invest for.  

Singapore Savings Bond is probably the safest investment available in the country that’s easily accessible. It can be compare to a fix deposit, except it offers better security. If you are planning to invest in Singapore Savings Bond – you are making the right choice.  

 


Quick Credit Pte Ltd

Quick Credit Pte Ltd is the best money lender you will be able to find in Singapore. Anything cash related, we will be able to help you. Our well train loan consultants will be able to come up with a good loan package to help you clear off all your outstanding bills or debts. In doing so, you will help you keep better track of all your expenses and money. We have been a licensed money lender since 2002.

We have the skills, knowledge and people to assist you through the entire loan process while providing you with excellent advice.

In addition, we have one of the highest positive moneylender reviews among money lenders in Singapore. Furthermore, Quick Credit is also one of the few moneylender open on Sunday!

Interested in knowing more about how you can get a loan from us? You can drop us an email at enquiry@quickcredit.com.sg. Our manager will get back to you as soon as possible. Or you can drop us a message here and our manager will get back to you soon.

Alternatively you can call us at +65 6899 6188. Or visit our office at 2 Jurong East Street 21 #04-01A/B IMM Building Singapore 609601. The nearest MRT station to us will be Jurong East Station.

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Investing in Singapore for Novices (2018 Update)

Posted by admin
on February 19, 2018

Investing in Singapore for Novices (2018 Update)

KEYWORD PHRASES – investing in Singapore for beginners 

Investment is a term that has confused every beginner when they plan to start investing. If you’ve decided to incorporate investments in your savings plan, then there is a chance that you have bombarded your friends and family with queries on the subject. You must have also read blogs and articles, but may have failed to fully understand the concept. Investing is a huge discipline that involves various tools and techniques to boost your savings. Yes, reading and keeping abreast with the news helps. But, a thorough understanding of the subject comes with experience.  

For all novices who wish to invest and succeed, we have compiled a guide that will answer all your questions on investment. This guide to investing in Singapore for beginners will enlighten you on all the factors you need to consider before you start your journey of investing.  

investing
investing

What do you need to know before investing?  

There are various factors you need to consider before you embark on your journey to invest. This includes everything from having your finances in place to understanding some basic investment concepts:  

Set financial goals and understand your risk appetite 

Aimless investments make no sense. If you do not know the purpose of investments, you will be unable to strategise and reap benefits. Ask yourself the reason for which you want to invest. Do you want to invest to gain financial independence? Or do you have certain commitments to fulfill? Depending on your goals and investment horizon, you will be able to estimate your risk appetite. If you are planning long-term investments, then you can gradually take risks. But, if you have commitments coming up in a few years, then you need to be on the safer side and ensure you reap maximum returns.  

Know your financial circumstance 

Whether you have millions of dollars or only a few thousands, you cannot allocate all the money toward investments. While savings are important, budgeting for necessities, debts, and other financial commitments is equally essential. Clearing debts should be a priority, and you should keep some funds aside for fixed expenses. Depending on your goals, you can then budget some amount for investments. To begin with set aside a fixed amount for monthly investments.  

Understand the relationship between risk and reward 

‘Investments are subject to market risks’ – you must have heard this several times. Markets are unpredictable and influenced by various political and economic factors. It takes years of experience to be able to predict how the markets will fare the next minute. While this is true, it is also said that to achieve something in life you have to take risks. Typically, investments with a high-risk rate give better returns, and vice versa. But, that doesn’t mean you jump on to riskier investments. Initially, you should stick to investments that match your goals and risk tolerance. Calculate and stick to the risk-reward ratio suitable to your situation.  

Once you understand these basic aspects, you can begin investing. Here’s how:  

Set up your brokerage and CDP account 

The first thing you need to start investing is a brokerage and a Central Depository (CDP) Account. A brokerage account makes paying for investments and investing overseas convenient. All you need to do is a Google search and send an email to your preferred brokerage firm. Some people go for the banks, where they have their savings account to make things easier. Banks like DBS, UOB, OCBC, Standard Chartered, Maybank, and CIMB offer brokerage account services. Alternatively you can opt for brokerage firms or online portals like Phillips or FMSOne portal. Additionally, open a CDP account. It acts as a wallet, where you can store all the stocks you buy.  

Select from investment options 

Basically, we mean strategise your investments. This begins by understanding the different investment options available in the market. Typically, when you think of the term investments, the first that comes to our mind is the stock exchange. But, investment is not limited to that. There are a variety of assets and options for investments. Stocks, bonds, mutual funds, insurance, real estate, and exchange traded funds, are some options that you can choose from. Some of these options may be riskier, while others are great for those looking for safe investments. If you’re considering investing in stock markets, then analyse the company to ensure you receive considerable returns. Additionally, should also bear in mind your investment goals, risk tolerance, and financial needs when devising an investment plan.  

Diversify and monitor your investment portfolio 

Once you have a plan in place, you can start investing. Make sure you diversify your investments. Diversification is an important aspect of investments that act as a defence to unfortunate circumstances. You should invest your money in different assets and of different companies. Putting all your money in one place comes with a risk of losing it. But, if you spread it across different assets, you minimise your exposure to risk. Continuously monitor your portfolio to make sure you have assets that serve your purpose of investing.  

So, here was a brief on investing in Singapore for beginners. Remember, investing is not the same for everyone. A strategy that suits someone else may not be apt for you. Make sure you invest with your goals and situation in mind. If needed, consult a financial advisor to help you with investments.  

 


Quick Credit Pte Ltd

Quick Credit Pte Ltd is the best money lender you will be able to find in Singapore. Anything cash related, we will be able to help you. Our well train loan consultants will be able to come up with a good loan package to help you clear off all your outstanding bills or debts. In doing so, you will help you keep better track of all your expenses and money. We have been a licensed money lender since 2002.

We have the skills, knowledge and people to assist you through the entire loan process while providing you with excellent advice.

In addition, we have one of the highest positive moneylender reviews among money lenders in Singapore. Furthermore, Quick Credit is also one of the few moneylender open on Sunday!

Interested in knowing more about how you can get a loan from us? You can drop us an email at enquiry@quickcredit.com.sg. Our manager will get back to you as soon as possible. Or you can drop us a message here and our manager will get back to you soon.

Alternatively you can call us at +65 6899 6188. Or visit our office at 2 Jurong East Street 21 #04-01A/B IMM Building Singapore 609601. The nearest MRT station to us will be Jurong East Station.

Continue Reading...

4 Pro Tips To Manage Your Investment Portfolio (2018 Update)

Posted by admin
on February 13, 2018

4 Pro Tips To Manage Your Investment Portfolio

 

investment portfolio
investment portfolio

KEYWORD PHRASES – investment portfolio management tips 

Investments, a heavy word, comprises of various money-saving tools and strategies aimed to obtain financial independence. But, if investing was that simple, every individual could have become a millionaire. Young people rarely understand that importance of investing and skip this essential aspect of financial management when planning for the future. And, those who do, young and old, most often fail to succeed with it. Investing is not any art, which requires you to have the talent to excel in it or get trained. Success in investments comes with practice, patience, discipline, and continuous review of your investment portfolio. Yes, there are strategies, but without these qualities and strong portfolio management, you can fail.  

The importance of portfolio management cannot be undermined. Life and markets undergo constant change. The goal you have today may be replaced by something else tomorrow. Similarly, the stocks of a company that looks promising on the exchange may turn out to be unproductive tomorrow. If your investment portfolio is not in accordance with your goals and the market conditions, then chances of success reduce.  

Successful portfolio management requires a proactive and disciplined approach to help you protect your finances and also attain financial independence. Whatever your investment strategy, there are certain basic principles that apply to it that can help you maximise your returns.  

Here are certain investment portfolio management tips to bear in mind to achieve success through investments:  

 

Start Early and Go Slow and Steady  

As mentioned before, many young adults overlook the importance of investing early. But, investing from an early age brings you many benefits. You get a longer time span to learn and acquaint yourself with investments. Additionally, you also get time to experiment with different investment strategies and ride out risks to maximise your returns. You can invest in various assets like stocks, bonds, real estate, index funds, and more. When you start investing, make sure you stick to the products you understand. It is important to not rush when you commence investing. Dollar cost averaging method of investing a fixed amount each month in a mixed portfolio of assets can be a great option to start with. You can keep a fixed amount aside each month and span out your investments in the assets you understand. Once you gain confidence, you can move on to riskier investments.  

 

Diversify, Diversify, Diversify 

The importance of having a diversified portfolio cannot be overlooked when investing. As the saying goes, ‘you should not put all eggs in one basket.’ Imagine, you bought stocks of a company named XYZ. You put all your money (say $10k) into buying this company’s stocks and bonds. Now, one fine day, this company goes bankrupt. You must have guessed by now the result of your investments.

Since you hardly got any returns on your investments, you ran into a loss. If you would have divided the same amount and invested different asset categories of different companies, you could have reduced the risk of loss and ensured steady returns.  

It is imperative to create an investment portfolio that exposes you to different asset classes. Furthermore, you must diversify your money within an asset class or category. For instance, if you’re investing in stocks, invest a specific amount in stocks of different companies, instead of putting all your money in a single firm. Make sure to not put more than 4% of your total portfolio into an individual stock. The more you diversify the better you chance of success.  

 

Regularly Rebalance Your Portfolio 

Asset allocation is a term that refers to allocating your investments across different asset classes with the aim of balancing risks and rewards. When you start investing you should set a certain percentage of your money to be put into different asset classes. Say for example, you have $10K and you put 50% in shares and 50% in bonds. As and when you progress, you need to review your portfolio and rebalance this percentage to make sure you keep churning good returns.

Market conditions can have a huge impact on the value of your investments. And, this can have an impact on your current portfolio. Say for instance, the value of your stocks appreciated by 20% and the value of your bonds stay stagnant. Considering this, you now have $6000 worth of stocks and $5000 worth of bonds. To rebalance, you need to sell $500 worth of stocks to buy the same amount of bonds. To make it simple, with rebalancing you are minimising risk exposure. It is recommend to do this 6 monthly or yearly. 

 

Maintain Discipline 

To achieve financial freedom through investments, you have to be discipline with your investments. Skipping to invest, failing to monitor your investment portfolio and getting carried away with some success or good market condition is the biggest mistakes people make. And, as a result, you fail to succeed with investing. Remember that investment is not a sprint. It’s best to go slow, stay patient, and not get demotivate by past performances or get excite and flow with the good market conditions. Sticking to your plan is essential. You should also ensure that your investment portfolio aligns with your objectives all the time.  

Having a well-maintained portfolio is a key to successful investing. So, keep these basic portfolio management tips in mind, and you are good to go.  

 


Quick Credit Pte Ltd

Quick Credit Pte Ltd is the best money lender you will be able to find in Singapore. Anything cash related, we will be able to help you. Our well train loan consultants will be able to come up with a good loan package to help you clear off all your outstanding bills or debts. In doing so, you will help you keep better track of all your expenses and money. We have been a licensed money lender since 2002.

We have the skills, knowledge and people to assist you through the entire loan process while providing you with excellent advice.

In addition, we have one of the highest positive moneylender reviews among money lenders in Singapore. Furthermore, Quick Credit is also one of the few moneylender open on Sunday!

Interested in knowing more about how you can get a loan from us? You can drop us an email at enquiry@quickcredit.com.sg. Our manager will get back to you as soon as possible. Or you can drop us a message here and our manager will get back to you soon.

Alternatively you can call us at +65 6899 6188. Or visit our office at 2 Jurong East Street 21 #04-01A/B IMM Building Singapore 609601. The nearest MRT station to us will be Jurong East Station.

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How to Earn Money with Bitcoin (2018 Update)

Posted by admin
on February 8, 2018

How to Earn Money with Bitcoin  

KEYWORD PHRASE: Earn money with Bitcoin 

bitcoin
Bitcoin

 

 

 

 

 

 

Breaking international barriers, cryptocurrencies now allow us to eliminate the handicap caused by the tedious process of foreign currency conversion when conducting international  trading. The unexpected boom that these cryptocurrencies have experienced in the recent years has financial analysts scratching their heads. Nothing could have prepared them for this back in 2008.  

People naturally have all sorts of questions. “Are Bitcoins a risky investment?”, “Do governments recognise Bitcoins?” “How do I earn money with Bitcoins?” Among other such questions.Let’s take a step back to understand how it works though.  

In easiest terms, cryptocurrencies are a collection of computer codes that happen to have a certain monetary value. Furthermore, bitcoins are not issued by any International or Government institution; these currencies are completely unregulated and decentralized. 

The residents of Singapore have much to cheer about because their establishment does recognise bitcoins. It is a perfectly legal instrument, and the MAS plans to regulate businesses that operate with bitcoins.  Traders, however, would be taxed accordingly. The MAS also warns users of the potential risks that surround bitcoins, and rightly so. There are financial and security dangers that could result in losses. This  article aims to explain how could you can earn money with bitcoins.  

Bitcoin Exchange 

Relatively uncomplicated, a ‘Bitcoin Exchange’ works just like generic buying and selling works. The working is simple; you must purchase bitcoins, store them safely, and hope the value increases over time.    

How to Earn Money with Bitcoin Exchange 

You would first make a purchase. Singapore residents could make the purchase through the standard means: credit cards, debit cards, and bank transfers. In Singapore, there are several popular exchanges that you could choose from. The most popular ones are Coinbase, Coinmama, GDAX, and Luno among others. It is important to check the privacy and security levels of your account before you are done with the process. Additionally, it is essential that you store your bitcoins in a Bitcoin Wallet.

The exchanges offer their own, but for higher security, hardware wallets such as Ledger Nanos or TREZOR are preferred. Knowledge Requirements 

A basic understanding of bitcoins is imperative. Uses should also conduct thorough research of the available exchanges, and their offerings; and available wallets, and their offerings as well. The key here is to fortify your account in order to avoid security risks.  A better understanding of security aspects is essential to ensure your bitcoins are not stolen. For greater security, storing the bitcoins in a local hardware (cold storage) is the best way to move forward.   

CFD Trading 

CFD stands for ‘Contract for Difference’. Thus, CFD Trading is essentially ‘playing the market’, and only, bitcoin markets are excessively volatile. This means there are natural risks, and earning profits is uncertain.  

How to Earn Money with Bitcoin CFD Trading 

The concept of CFD Trading is build around speculating the rise or fall in the value of bitcoins. This method of earning money with bitcoin appeals to some because there is no question of owning bitcoins, and by extension, there is no question of safely securing bitcoins either. The agreement in place allows you to trade the difference in the value of bitcoins from the time of entering the contract to the time of contract termination.  

For example: let us assume the current valuation of bitcoin is $1000. The current buying and selling rates are $1005 and $995 respectively. The valuation to buy one contract equals 100 bitcoins. You predict a price rise and decide to speculate via CFD. Since the buying rate is $1005, you make a buy at that rate. The value of bitcoin surges by 50 pips.

Now, the value of buying and selling jumps, and rises to $1055 and $1045 respectively. You would make a sell at the selling rate of $1045, and in the process, pocketing the difference of 40 (Initial buy at $1005 and eventual sell at $1045). You just make $4000!  

The key takeaway here is that you need to be aware of how the market works to make accurate speculations. Inaccurate speculations result in losses.        

Knowledge Requirements 

Essential know-how of how the market works is the only prerequisite to successfully  of earn money with bitcoins through CFD Trading. This knowledge is essential because it gets you to make relatively accurate speculations, and as we’ve discussed earlier, inaccurate speculations endanger your chances.  

 

Bitcoin Mining 

Bitcoin Mining is the means to generate the currency itself. The bitcoins that you have mined also function the same way as the currency that you purchase through exchanges.  

 

How to Earn Money with Bitcoin Mining 

Additionally, the process of mining bitcoins is rather complex. The process involves using high power-consumption,  and sophisticated machinery. Your computer’s graphic card and processing power are capable of solving complex mathematical algorithms. These complex algorithms are essentially ‘Blocks’ that miners look to solve to extend the ‘chain’. The number of bitcoins that you mine heavily depends on the processing power of your hardware. Additionally, you also have the option of opting for a cloud-based bitcoin mining.  

 

Knowledge Requirements  

The key requisite here is the strength of your personal computer. Earlier, mining was done through the CPU itself. But these days, a graphic card (GPU) is preferrable instead. GPUs present a far brisker way of mining bitcoins. Certain experts think highly of the ATI HD 7950 cards. However, keep in mind, cards of higher quality come at a premium.  

There are other indirect ways to earn money with bitcoins. These methods include selling products and services that pay in bitcoins and, creating bitcoin-related websites that are informative nature. This is not far-fetched since these currencies work globally, and help us bypass the inconvenient process of currency conversion.  

Dealing with bitcoins has its own risks. If your security arrangements are not adequate, you risk the possibility that your bitcoins are stolen. Bitcoin market is very promising and there is no reason why you should not invest some of your surplus money, there is a fair chance that the investment you are making could pay rich dividends.    

 


Quick Credit Pte Ltd

Quick Credit Pte Ltd is the best money lender you will be able to find in Singapore. Anything cash related, we will be able to help you. Our well train loan consultants will be able to come up with a good loan package to help you clear off all your outstanding bills or debts. In doing so, you will help you keep better track of all your expenses and money. We have been a licensed money lender since 2002.

We have the skills, knowledge and people to assist you through the entire loan process while providing you with excellent advice.

In addition, we have one of the highest positive moneylender reviews among money lenders in Singapore. Furthermore, Quick Credit is also one of the few moneylender open on Sunday!

Interested in knowing more about how you can get a loan from us? You can drop us an email at enquiry@quickcredit.com.sg. Our manager will get back to you as soon as possible. Or you can drop us a message here and our manager will get back to you soon.

Alternatively you can call us at +65 6899 6188. Or visit our office at 2 Jurong East Street 21 #04-01A/B IMM Building Singapore 609601. The nearest MRT station to us will be Jurong East Station.

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Why You Should Start Your Business in Singapore (2018 Update)

Posted by admin
on January 29, 2018

Why You Should Start Your Business in Singapore 

KEYWORD PHRASES – reasons to start a business in Singapore 

Singapore is viewed as an amazing tourist destination. Its natural beauty, the historical structures, and the excellent infrastructure are a treat to the eyes. But, did you know that Singapore is also one of the best places to start a business?  

Aspiring entrepreneurs want a business-friendly atmosphere to kick start their venture. Since growth and profit are their main aims, they typically look for an environment based on strong virtues that can provide skilled manpower, low corporate tax rates, and hassle-free registration. And, all of this can be found in Singapore.  

Singapore has driven its economy to a highly profitable one and placed itself among developed nations within a short span of time. Global players like Apple, Google, Procter and Gamble, DBS Bank, etc., have already recognised the potential that Singapore has to offer entrepreneurs. Whether you want to expand your business or start a new venture, Singapore offers immense opportunities and a conducive environment. Here are some reasons to start a business in Singapore.  

 

open-business
start your own business

Singapore’s Strategic Placement Offers Excellent Connectivity 

Singapore is in the heart of South-east Asia. The world’s top companies that plan to expand to the South-east Asian region chose Singapore as their base. All thanks to its strategic location that offers excellent connectivity with other nations across the world. When doing business in Singapore, logistics should not be a worry. Singapore’s Changi International Airport serves around 80 airlines and offers connectivity to more than 330 cities. It also hosts leading logistics firms like FedEx and UPS. Considering this, there is no doubt Singapore tops the charts in Asia in the Logistics Performance Index by the World Bank. Apart from its great air connectivity, Singapore also houses the world’s busiest port. Its port offers 200 shipping lines with links to around 600 ports in 23 countries. Who wouldn’t like to set up business in a place that is so well connected with the world? 

Singapore has a Business-Friendly Ecosystem  

According to the World Bank’s Ease of Doing Business report, Singapore has ranked among the top two out of all the countries in the world. The reasons behind this are the nation’s hassle-free business registration process and the business-friendly laws. As compared to other nations, where it may even take a month to register your corporation, you can incorporate your business in Singapore in just three days. Its strong judiciary system and virtues offer entrepreneurs a stable environment to conduct business. The country-state is also a thriving start-up ecosystem. The government offers extensive support to budding entrepreneurs by providing funding support in various ways. One of its initiatives is Startup SG offers them with access to local support initiatives and connects them to the global entrepreneurial network. Whether you are looking for funding, guidance, or both, Startup SG is categorised to offer support in all forms to startups.  

You can take Advantage of Affordable Tax Rates 

According to the World Economic Forum’s report, Singapore is amongst the top 10 in the world in the list of countries having low tax rates. With the tax rate standing at only 17%, Singapore offers one of the most attractive corporate tax structures. One of the major considerations for entrepreneurs when setting up their business is taxes. After all, a huge amount goes into paying dues to the government. Also, there are no capital gain taxes in Singapore. Overall, Singapore has a progressive tax framework, which is base on a territorial policy. To reduce dependency on income taxes and enhance their competitiveness, the Singaporean government follows the Goods and Services Tax (GST) system. Again, Singapore is one such nation that maintains one of the lowest GST rates, which is currently 7%. These affordable tax rates are sufficient to entice entrepreneurs to set up their business in Singapore.  

Free Trade and a Stable Economy 

The government of Singapore has signed over 21 free trade agreements with 27 economies. In addition to this, it has signed 76 comprehensive avoidance of double tax agreement. Cost of trading with other nations, including additional taxes, is one of the biggest barriers in trading across the borders, the flow of investment, technical know-how and expertise. These agreements allow businesses to minimise these tax barriers and freely trade with other nations. Another lucrative reason to set up your business in Singapore is its stable political environment. According to the Global Competitiveness report 2015-16, the World Economic Forum ranked Singapore as having the best IP protection in Asia. The same report also cited that Singapore has a sound political framework and policy-making procedure.  

Access to a Pool of Talent 

As per the Business Environment Risk Intelligence (BERI) report of 2014, Singapore enjoys the highest ranking for workers’ productivity and general attitude. Effective company policies, conducive working environment, and healthy living conditions can credit for a highly motivating workforce in Singapore. Additional, the Human Capital Report of 2015, also states that a huge 54% of Singapore’s workforce is highly skill. The nation’s emphasis on quality education and its progressive education policies. And the ongoing training programs, and attractive immigration policies have helped churn out skilled professionals time and again. Doing business in Singapore can let you access local as well as immigrant talent.  

Access to human and other resources and a sound economic framework is vital for the smooth growth of your business. While these reasons to start your business in Singapore are enough for anyone to be convinced, make sure you do your research before making such a big decision.  

 


Quick Credit Pte Ltd

Quick Credit Pte Ltd is the best money lender you will be able to find in Singapore. Anything cash related, we will be able to help you. Our well train loan consultants will be able to come up with a good loan package to help you clear off all your outstanding bills or debts. In doing so, you will help you keep better track of all your expenses and money. We have been a licensed money lender since 2002.

We have the skills, knowledge and people to assist you through the entire loan process while providing you with excellent advice.

In addition, we have one of the highest positive moneylender reviews among money lenders in Singapore. Furthermore, Quick Credit is also one of the few moneylender open on Sunday!

Interested in knowing more about how you can get a loan from us? You can drop us an email at enquiry@quickcredit.com.sg. Our manager will get back to you as soon as possible. Or you can drop us a message here and our manager will get back to you soon.

Alternatively you can call us at +65 6899 6188. Or visit our office at 2 Jurong East Street 21 #04-01A/B IMM Building Singapore 609601. The nearest MRT station to us will be Jurong East Station.

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How Exactly Does a Critical Illnesses Plan Work (2018 Update)

Posted by admin
on January 22, 2018

How Exactly Does a Critical Illnesses Plan Work

KEYWORD PHRASES: Critical illnesses plan in Singapore

critical-illnesses
critical-illnesses

 

 

 

 

 

 

 

One needs to be extremely blessed to live a long life without any serious illness. But not many Singaporeans are so fortunate. According to a study conducted by the Ministry of Health Singapore, out of the total number of deaths in 2016 (20,017 people), 29.6% Singaporeans died of cancer, 17% of them died of Ischaemic heart diseases and 1.9% of other heart diseases. The Singapore heart foundation states that 16 people die of cardiovascular diseases and stroke everyday. Additionally, in the past couple of years, these numbers have been on a steady rise, which means we can expect the same trend to continue even in the future.

The above statistics clearly show the prevalence of critical illnesses in Singapore. It is one of the primary causes of death, and you ought to be prepared to combat them. But are you really prepared for a critical illness? Do you have the funds in place for the treatment and payment of hospitalization bills? Will your insurance plan cover your expenses in case of a critical illness? Having a critical illness plan is of prime importance to cover your medical expenses at any stage of a critical illness. Read on to know more about a critical illness plan in Singapore.

What is a critical illnesses plan in Singapore?

A critical illness plan is a type of insurance product that covers your medical expenses at the time of a critical illness. As per the norms of the policy, you get a lump sum payment when you are diagnosed with a critical illness covered under the policy. There are usually a list of 37 critical illnesses that are covered under a critical illness plan in Singapore.

However, the money given does not depend on you incurring medical costs, once the amount is given you have full discretion as to how you want to use it. At times you may have the funds to spend on treatments for a critical illness but you might be unable to work for a couple of weeks after that. In such cases, the amount you get from your critical illness plan can be used to substantiate the temporary loss of income.

Some of the common products found in the market are AIA triple critical cover, early critical protector life plus, and the My Early Critical Illness Plan by Aviva. AIA triple critical cover is one of the few insurance plans that provide coverage for multiple critical illnesses. But there are some insurance plans that provide coverage only at the intermediate or the last stage of your illness. So, even if you were diagnosed with cancer at the first stage, you would be able to bank on your critical illness plan only when you reach the intermediate stage. Sounds absurd, right? The early stage critical illness plan covers this loophole.

How is it different from an early stage critical illnesses plan?

As mentioned above, to claim your money in a critical illness plan your doctor needs to ascertain the stage of your illness. But in an early stage, critical illness plan allows you to claim payouts upon the diagnosis of the critical illness (covered under the policy), irrespective of the stage of the illness.

Being diagnosed with a serious illness is already bad enough. It can have serious implications on all other areas of your life as well. If you are a working professional, then you might temporarily or in some cases permanently be unable to go to work. Amidst the stresses of having a critical illness, you do not want to wait to fall even more sick to get your insurance claim. This is where an early stage critical illness plan is necessary.

Which illnesses are covered under this plan?

Most critical illness plans in Singapore cover the following illnesses:

Heart Disease

Paralysis

AIDs

Stroke

Organ Transplant

Parkinson’s disease

Blindness

Cancer

Chronic Liver Disease

Loss of hearing

Fulminant Viral Hepatitis

Chronic Lung Disease

Loss of speech

Alzheimer’s disease

Major Head Trauma

Multiple sclerosis

Major Burns

Aplastic Anaemia

Primary Pulmonary Arterial Hypertension

Coma

Muscular Dystrophy

Heart Valve Replacement

Terminal illness

Benign Brain Tumor

Surgery to Aorta

Motor neuron disease

Encephalitis

Poliomyelitis

Brain Surgery

Bacterial Meningitis

Why opt for a critical illnesses plan?

Including a critical illness plan in your financial profile has many benefits. It can act as an income replacement. Whether or not you choose to use the lump sum amount for hospitalisation is upto to you. But in most cases, a person with a critical illness will need a temporary source of income to cover his other expenses. A critical illness plan will help you sustain your living expenses till the time you are fit enough to work again.

We hope this article has given you a fair idea of how a critical illness plan works.

 


Quick Credit Pte Ltd

Quick Credit Pte Ltd is the best money lender you will be able to find in Singapore. Anything cash related, we will be able to help you. Our well train loan consultants will be able to come up with a good loan package to help you clear off all your outstanding bills or debts. In doing so, you will help you keep better track of all your expenses and money. We have been a licensed money lender since 2002.

We have the skills, knowledge and people to assist you through the entire loan process while providing you with excellent advice.

In addition, we have one of the highest positive moneylender reviews among money lenders in Singapore. Furthermore, Quick Credit is also one of the few moneylender open on Sunday!

Interested in knowing more about how you can get a loan from us? You can drop us an email at enquiry@quickcredit.com.sg. Our manager will get back to you as soon as possible. Or you can drop us a message here and our manager will get back to you soon.

Alternatively you can call us at +65 6899 6188. Or visit our office at 2 Jurong East Street 21 #04-01A/B IMM Building Singapore 609601. The nearest MRT station to us will be Jurong East Station.

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What’s Challenging Singapore’s Successful Economy (2018 Update)

Posted by admin
on January 15, 2018

What’s Challenging Singapore’s Successful Economy (2018 Update)

KEYWORD PHRASES – challenges facing Singapore 

singapore economy
Singapore Economy

 

 

 

 

 

 

Singapore’s journey to development is an exceptional one. Starting as a small country-state with little to no resources and the lack of infrastructure and support from foreign nations, today Singapore has grown to be a developed nation, and is at par with the USA. There is no denying that Singapore enjoyed a rapid growth from being less economically advanced to one of the developed economies in the world during the past 50 years. Its progressive thinking leaders, open economy, and free trade acted as critical catalysts to its growth.  

However, since the last couple of years, the Singaporean economy is under the weather. Reports stating the slow growth pace has been doing rounds. As Singapore marked its 50th anniversary in 2015, Prime Minister Lee Hsien Loong cited some critical challenges facing Singapore and how the nation can overcome them.  

Although the country has shown great progress, the future is filled with challenges and constraints. As economic cycles are getting shorter, the developed economy has less room for catch-up growth and sharper constraints. Here are some key challenges facing Singapore, which may also lead to trends for the future:  

Technology Disruption 

The emergence of disruptive technologies is one of the biggest challenges faced by Singapore. The effect of technology on all industrial sectors is visible around the world. The emergence of technology has lowered costs and enabled more businesses to enter the global market. Whether it is in the manufacturing or retail sector, technology is taking over certain jobs. 3D printing and additive manufacturing are changing how factories are configured. Retailers are shifting online to serve their customers. Today, you don’t even have to go to a travel agent for your flight and travel bookings. You can do that through travel booking platforms.  

Yes, jobs of routine-nature are being eliminated. But, they will be replaced by newer, skilled jobs. Since new types of jobs are being created, Singapore will need to match up with a talented workforce to prevent unemployment and slow digitisation. Initiatives like SkillsFuture are the way to prepare the workforce for new jobs.  

Need for Local Innovation 

Singapore’s growth has been exceptional since its inception. However, in the last few years, it is moving from a phase of rapid catch-up growth to trend growth, which is mark by a low GDP growth. To avoid an economic doom, Singapore must focus on local innovation along with using resources developed abroad. Promoting small and medium-sized enterprises (SMEs) can help the nation as they provide a continuous flow of business and employment opportunities, which rejuvenates the ecosystem. Although SMEs have a tough time competing with big players, those who survive the competition usually emerge to be a large fish themselves.

The surviving SMEs grow faster, drive productivity, and act as a supporting pillar to the overall economic growth. And, as they expand to international waters over the time, they become stalwarts for Singapore’s economic growth. Since SMEs also create more jobs, they act as a buffer for employees after a recession. While this is the need, Singapore must not overlook the importance of MNCs. MNCs provide abundant job opportunities and also expose employees to different facets of doing business. This exposure is important for entrepreneurship. The nation can also look at collaborations between MNCs and SMEs to boost economic growth.  

Decline in Local Workforce 

People create ideas and ideas lead to innovation. To maintain economic growth, Singapore needs more productive and skilled workforce. Yes, businesses in Singapore do have access to a pool of local and immigrant talent. But, the growth of local workforce is expected to slow until 2020. You can attribute this to low-birth rate and the growing ageing population. Churning out productive workforce and providing quality education are major challenges face by Singapore. Since Singapore plans to harness technology to create more opportunities, it must train its human resources to take over the new jobs created in a digitised world.

The education system needs to prepare children to think critically and out of the box. It must also promote undying motivation in students, so they live with a ‘never give up’ attitude. While SkillsFuture helps Singaporeans upgrade their skills, the nation also needs to remain open to skilled foreigners. Greater diversity brings in fresh ideas and helps in bettering the innovation.  

The Problem of an Ageing Population 

Singapore is one of the fastest graying populations in the world. In an event, Mr. Shanmugam shared a news article on how adult diapers will soon outsell baby nappies in Japan. While doing so, he noted that Singapore is ageing even faster than Japan. In his lecture on June 30, 2015, when the country-state celebrated its 50th anniversary, PM Lee spoke about the concerns of ageing population. Demography indicates the future of any country. Singapore’s population growth rate in 2014 was 1.3%, the slowest in a decade. He also stated that according to some statistics, two adults would support a senior citizen by 2030 as compared to 5:1 ratio in 2015.

Increasing fertility rate from 1.2 to 1.5 over 25 years is one of the solutions give by him. While he assured that the government would do its part to facilitate this, he also admitted that Singapore also required a cultural change to become a more family-friendly country.  

So, here were some of the challenges facing Singapore currently. The way it tackles these challenges will tell us whether Singapore succeeds in retaining its successful economy and the strong pillars of virtue that it is based on.  

 


Quick Credit Pte Ltd

Quick Credit Pte Ltd is the best money lender you will be able to find in Singapore. Anything cash related, we will be able to help you. Our well train loan consultants will be able to come up with a good loan package to help you clear off all your outstanding bills or debts. In doing so, you will help you keep better track of all your expenses and money. We have been a licensed money lender since 2002.

We have the skills, knowledge and people to assist you through the entire loan process while providing you with excellent advice.

In addition, we have one of the highest positive moneylender reviews among money lenders in Singapore. Furthermore, Quick Credit is also one of the few moneylender open on Sunday!

Interested in knowing more about how you can get a loan from us? You can drop us an email at enquiry@quickcredit.com.sg. Our manager will get back to you as soon as possible. Or you can drop us a message here and our manager will get back to you soon.

Alternatively you can call us at +65 6899 6188. Or visit our office at 2 Jurong East Street 21 #04-01A/B IMM Building Singapore 609601. The nearest MRT station to us will be Jurong East Station.

Continue Reading...