One of the things people forget about their savings is the effect of inflation compounded over decades. When planning for retirement, for example, while it is important to have prudence, simply putting money in the bank, fixed deposits, or bonds is not the way to go. We need to project the value of that dollar, and find complementary investments that provide a return that exceeds inflation, and takes into account political risk.
Another consideration is the mitigation of risk, which is the role of a comprehensive insurance portfolio. The average Singaporean is massively underinsured in critical illness. In an era of double digit medical inflation, this is a major concern.
The following article does well to
expound on some areas to look at when performing a health check-up on various
assets and aspects of a strong finance portfolio.
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