The protection gap in Singapore works a lot like the one between the MRT platform and the train — small, easy to ignore, and genuinely dangerous if you fall into it.

Have you taken a subway in UK or the MRT in S’pore?

If you have, you would have noticed signs & floor markings cautioning you to “Mind the Gap” between the boarding platform and the arriving train to prevent any mishaps. In spite of the warnings, unfortunate incidents have occurred where individuals actually fell onto the track or had their limbs trapped in the gap. Hence, it’s best to heed the warnings or ignore them at one’s peril, wouldn’t you agree?

Similarly, in the context of financial planning, one might have financial planning gaps in the following areas :-
1. Insurance planning
2. Child education planning
3. Retirement planning (wealth management)
4. Estate planning

Not adequately addressing these financial gaps can expose one and one’s family to serious consequences.

Such examples would be:-
– financial distress caused by loss of income due to illness and accidents
– burdened by large medical bills
– not having sufficient resources to provide the best education for one’s child
– not having adequate resources to outlast your retirement or live the retirement lifestyle you desire
– leaving an inadequate estate to your loved ones (e.g loss of a breadwinner may force the surviving spouse to take a second job in order to support the family)

But how would one be able to identify where their gaps are, the size of the gaps, how best to prioritize one’s resources to address the gaps and what’s the best way to close up the gaps?

In my work with my clients, my role will be to guide them through the process and help them obtain the answers to the above questions. Finally, by implementing the financial plan recommendations, I’m confident that they will achieve greater peace of mind knowing that they have done their up most best to close up their financial gaps in order to protect theirs and their family’s long term interest.

If surplus financial resources are available, why leave things to chance?

The choice is either to pay a small price today to address one’s financial gaps or potentially face a significantly higher price later on in life due to inadequate planning
Indeed, how well we can overcome the financial hurdles in life often depends on the choices we make today….and there’s no better time to plan than Now.

To seek advise on the above or to refer a friend, just email me on the right side and we’ll get in touch soon.

Till then…
Live life to the Fullest, without Regrets!