15/05/2024
Just Landed Your First Job? Here's Your Financial Planning Starter Pack! (Ages 19-29)
Feeling overwhelmed by adulting? Don't sweat it! Here's a basic guide to kickstart your financial journey:
1. Build Your Safety Net:
- Save 3-6 months of expenses in an emergency fund.
- Consider a mix of Savings Accounts and Singapore Savings Bonds for easy access and some growth.
2. Get Protected:
- Life & Total Permanent Disability Insurance: Aim for 9x your annual income.
- Critical Illness Insurance: Consider 4x your annual income.
- Explore affordable Term Insurance plans for peace of mind.
3. Invest for the Future:
- Invest at least 10% of your paycheque for retirement and dream goals (like a home!).
- Start Early! It helps a lot.
Options to Consider:
* Short-Term: Singapore Savings Bonds, T-bills, Fixed Deposits
* Long-Term: CPF Top-Up, Diversified ETFs/Unit Trusts
Ready to level up your financial game? DM for a deeper dive!
