Lin Jiateng Financial Planning

12/08/2022

What's your definition of success?

True success is only found where the currency comes from the heart and not our wallets. 🙏💞

13/05/2022

2021 was the year of struggles; the Great Realignment and Resignation, money and tough choices. The new normal has forced many industries, systems and even people to change. One notable event is that the new normal has brought along a flood of new investors who are mostly amateurs and are often excited about the market. Groww, an online investment platform, revealed a growth rate of 94.53% for first-time investors in 2021 (as of July) as compared to the previous year.

As rewarding as an investment may be, an investment journey is a complex expedition that requires much time and study. One misstep could lead to a mishap and this may just result in the loss of your hard-earned money. Therefore, whether you are a first-time investor or an experienced investor, before you start an investment, you should always give careful consideration to as many aspects of an investment as you can.

To help you in your investment journey, we have created a helpful guide that shares with you the 5 Areas To Consider Before Investing. Feel free to share this guide with the people around to invest with prudence.

28/03/2022

Have you heard about the 6 new changes to the CPF system in 2022? The changes were announced in November 2021 by the Ministry of Manpower (MOM). If you are still in the dark, it’s high time you keep your eyes peeled!

Here’s a summary of the 6 Changes to CPF in 2022. Feel free to share it with the people around you as the saying goes; sharing is caring!

If you want to be a CPF champion, feel free to join us at our client webinar happening on 29 Mar, Tuesday, 7:30PM – 8:45PM.

Slots are still available, let me know if you are keen!

24/03/2022

The CPF Full Retirement Sum has steadily increased from $80k in 2003 to $192k this year? This sum will also increase from 3% to 3.5% per year for the next 5 years.
What exactly is the CPF Full Retirement Sum and how will this increase affect you?

Join us in our upcoming Client Webinar, Who Wants To Be A CPF Champion? Where we share with you the concepts of hitting FRS with real life experiences from our guest speaker!

Seats are limited so drop me a message if you want a ticket!

23/03/2022

一波未平一波又起.

While global economies are still recovering from the Covid pandemic, the Russian-Ukraine conflict has made our journey much more ardous.

Rising prices has already creeped into our day to day life with the cost of petrol, utilities and even eggs increasing by about 30% compared to last year.

SINGAPORE — About two to three weeks ago, Mr Kevin Soh noticed that milk powder for his two young children had become S$4 more expensive per tin.

07/03/2022

This showcases our vulnerability to fluctuating prices, especially when we rely on global demand and supply for our daily necessities. Such situations are usually caused by external factors, which are complex and difficult to resolve.

How can we then, reduce the impact of such events on our finances and lifestyle?

Oil prices have been defying gravity despite attempts to stabilise the market. . Read more at straitstimes.com.

01/03/2022

Should investors be concerned about the Russia-Ukraine crisis?

Although the markets declined upon the first reports of the invasion, it managed to stage a comeback by the end of the day. If we were to refer to the image, equities on average have delivered returns of 8.6% from past geopolitical events
12-months later. Hence history would have shown that such market responses are expected in our investment journey.

Below are three tips which I will share with my clients when markets decline:

1) Identify your true risk profile. Are you undeterred by a 20% drop in your portfolio, or does a 5% decrease cause you to lose sleep at night? Market declines are the best times for investors to discover their true risk profile, and find out what they are comfortable with.

2) Review your existing investment portfolio. Are you overexposed to a certain geographical location or asset class or is your portfolio truly well diversified? Make sure you are invested in areas with good fundamentals and with a margin of
safety. These investments are good to hold through volatile periods.

3) Do you need to withdraw from your investments now? If there is no real urgent need for the money, doing nothing might be the best cause of action. Just sit back and let your money compound over the long-term.

Hope the it helps!

Image source: https://sg.news.yahoo.com/russia-ukraine-crisis-what-happens-to-the-stock-market-amid-geopolitical-shocks-175610742.html

24/02/2022

The Budget impacts all Singaporeans from all walks of life. As a self-employed indidivual, here are two things I will work on this year to better prepare myself for the future.

1) Increase productivity in my business Streamlining my business process (i.e utilising tracking sheets and delegating adminstrative tasks) will help me eliminate time-consuming or non-productive tasks. This helps me to stay focused and efficient so that I can achieve more results using less time.

2) Diversify income sources. I plan to create multiple streams of income through exploring investment, business, and mentorship opportunities. This will provide me the resources to let me lead my desired lifestyle from now to the future.

3) Exercise financial prudence. I always believe that affordability does not create the need to purchase something. Hence when I pick up an item which I can afford, I will think if I really need it before making the decision to purchase.

Hope the tips can be useful to you too. If you have more tips to tune up your finances, feel free to share with me in the comments below!

On Friday (Feb 18), TODAY organised a roundtable with youths aged 35 and below to discuss measures announced at the 2022 Budget.

21/02/2022

Here are the highlights of Singapore Budget 2022.

One of the main highlights was the delay of the planned Goods and Services Tax (GST) hike to 2023 and the increase will be staggered; the first increase from 7% to 8% will take place on Jan 1, 2023, and the second increase from 8% to 9% will commence from Jan 1, 2024 onwards.

Further to that, Budget 2022 includes the Government’s initiatives to cushion the impact of the GST hike. Additionally, it will introduce new measures and enhance existing initiatives, to support businesses and households. Budget 2022 also aims to strengthen digital capabilities, make innovation pervasive, develop people and advance Singapore’s green transition.

05/11/2021

As we age and grow into adulthood, I do not think we can ever remove the lens of our parents seeing us a child, someone who they love and want to care for. Yet, parents show care in ways that they are familar with based on their own experiences, which might not be aligned with what we need.

Despite me staying away from my parents for more than a year, they still take every opportunity to tempt/encourage me to move back home. Gradually, I learned to understand that even though their solutions are not feasible for me, they still mean well. Hence rather than lamenting on how they dont understand my needs and wants, I use this opportunity to communicate with them, reassuring them that I have plans put in place already and I will be fine.

Don't forget that like ourselves, our parents also have their own journey to grow to become better parents.

It is not wasteful, impractical and unfilial for a young single to move out. Perhaps, we should stop treating singles like “adult children”, says Annie Tan.