Henry Tan Planning Office

26/01/2025

I was in a discussion with my colleagues a few days ago, and I posed a casual question, “are financial habits of parents passed in to children subconsciously?”

The answers were yes almost immediately.

What do you think are some of the habits that unintentionally but somewhere found their way into the next generation?

I can think of one, buying 4D / Toto.

17/01/2025

Thank Phillip Wealth Advisory for the feature.

In the 2 and a half min podcast, I spoke about the often overlooked sinking fund.

Most people know about contingency fund, but they may not have a sinking fund. Personally, I feel this is an important fund that takes pressure off yearly payables (instead of monthly).

Feel free to PM me if you have query on this and am open to a discussion over coffee. And do share with your friends if you feel it’s useful.

Thank you.

19/08/2023

Over the past few months, Singapore's property costs have stayed painfully high and both locals and foreigners alike have been feeling the pinch. But is the market showing signs of cooling off? Juliet Stannard, who is the co-owner of a multi-million dollar agency in Singapore's real estate industry,...

18/08/2023

This is from a US context. However, as I was reading through, inevitably I read about the respondents mentioning about lifestyle.

In local context, with lower income tax compared to other countries, do you feel rich with your higher than average income?

Billionaires know they are. Low-wage workers are very well aware that they aren’t. But vast swaths of America’s “regular rich” don’t feel that way, and it’s keeping everybody down.

27/07/2023

Thank Phillip Wealth Advisory for the opportunity in sharing my views on poems market journal and to be featured on The Edge magazine’s financial savvy column.

I have always felt that cashflow advisory is key to assist families to build wealth, with foundation on financial habits and mentality.

Good disposable income is attainable for many educated professional now, but due to the demands from work, spending on lifestyle becomes a way of de-stressing.

Sure, for someone whose necessity expenses are already on par with income, we work on finding ways to increase income. But for a high income earner, reducing certain lifestyle temporarily to build assets will help them build wealth efficiently to achieve financial independence earlier, which allows them the choice of their lifestyle permanently in the future.

The term "Henry" (High-earner not rich yet) was coined by Shawn Tully of Fortune magazine back in 2003. It refers to a group of individuals who, despite earning between US$250,000 and US$500,000 annually, aren't necessarily wealthy yet.

But what impact does being a "Henry" actually have? Does this group of individuals face financial challenges despite their high income?

Explore the impact of spending habits on their financial situation and observe how luxury brands and travel companies target them due to their higher disposable income.

Read to find out: https://www.poems.com.sg/market-journal/are-you-a-henry/

Author:
Henry Tan
Wealth Manager, Phillip Securities Pte Ltd
https://bit.ly/TTPhenrytan

06/02/2023

The YouTuber then approaches several students on campus, asking them questions about their fields of study, how difficult it was to get into NUS, and how much pay they expect to receive once they start working.

SINGAPORE — A starting salary of as much as S$10,000 a month for fresh graduates was too much of a stretch. Online users were left in disbelief at the lofty financial aspirations expressed by some National University of Singapore (NUS) undergraduates in a recent viral video.

21/01/2023

Wishing you great health and have your income increase by leaps and bounds in the year of Rabbit!

13/01/2023

When you specialise in your career, you will make a good income. There are many who earned millions over their lifetime, but didn’t managed to accumulate millions.

The key is to ensure your earnings (income exchanged from time) is being allocated as capital to build passive income for your lifestyle. And when you do, more importantly, can you pass this wisdom to your next generation?

06/01/2023

For savings such as short term goals (marriage in one year, holiday in half a year, car downpayment in 2 years) or contingencies, opportunities and sinking funds, you do not have a long horizon to ride through volatility.

Hence, you need something that is not very volatile and can hold capital with liquidity. It happens that such cash facilities now have better interests than 2 years ago due to rising interest rates.

31/12/2022

Wish You Great Health, Huat Wealth, and Harmonious Family In Year 2023!

30/12/2022

Without a Will, the property goes to the grandson under intestate law (I believe the grandma name was not added as joint-owner because she has her own flat).

Edited: Actually, writing a Will is to ensure your assets are distributed according to your wishes, instead of for the law to decide for you which may take a longer process. And writing a Will can be a form of expressing your love for your family to ensure they receive a message of why you are distributing it the way you decided.

Beyond that, estate planning is also not just about writing a will, you can discuss more with your financial adviser with estate planner qualification or seek their referrals to someone who can assist.

Grandmother and grandson took to court to fight over the deceased's HDB flat in Tanjong Pagar worth S$450,000 and other assets including about S$181,000.

22/12/2022

A research done by Capgemini as a statistics for firms and wealth managers to determine what each category of their clientele needs in terms of solutions.

However, for yourself, $1 million or $5 million may just be numbers and I don’t think we just want to chase numbers without meaning (It can be a milestone check though, which I will post in the future post on how financial institutions categories their banking customers)

Rather, what does it mean to you?

Can it mean a comfortable retirement to you with independence?

Can it mean a legacy for your next generation to achieve their goals?

Can it be a source of fund for you to leave as a charitable amount to support a worthy cause that means much to you?