On 7 February 2024, Business Times published a news article titled “Singapore’s median household income up 2.8% In real terms in 2023”. This is good news for Singapore residents! An inflation-adjusted rise in median income of 2.8% is a very healthy indicator for Singapore’s economy.  The news article reported that Singapore’s median monthly household income […] The post Karen Tang, CFP® Comments On: Singapore’s Median Household Income Up 2.8% in Real Terms in 2023 appeared first on Karen Tang, CFP®: Certified Financial Planner in Singapore. Source ..read more

When we talk about private annuities, it is more often than not that Singapore’s national pension scheme, the CPF Lifelong Income For the Elderly (a.k.a CPF LIFE), will be part of the conversation. CPF LIFE is a national longevity insurance annuity scheme that provides Singaporeans and Singapore Permanent Residents with monthly payouts for as long […] The post What You May Not Know About Private Annuities – 17 Aspects To Consider appeared first on Karen Tang, CFP®: Certified Financial Planner in Singapore. Source ..read more

Singapore’s Budget 2024 speech by DPM Lawrence Wong on 16 February  revealed significant CPF changes, in particular the closure of CPF Special Account (SA) after age 55, starting from 2025 onwards. This announcement sent ‘shock waves’ to many people, especially CPF members who will be turning 55 next year. Starting in 2025: The CPF SA […] The post CPF Special Account Closure After Age 55? Navigating the new CPF Landscape appeared first on Karen Tang, CFP®: Certified Financial Planner in Singapore. Source ..read more

I had the privilege to be interviewed again for Her World, this time in the December 2023 issue. The title of the article is “Trusting AI With Your Money”. I was asked to share whether I agree or disagree, and what alternative (better) or additional advice I might recommend as a financial expert. The editorial […] The post Can A.I. Replace Financial Planners? | Her World + Karen Tang appeared first on Karen Tang, CFP®: Certified Financial Planner in Singapore. Source ..read more

It’s once again “SRS (rush) season”. The last day to contribute to the Supplementary Retirement Scheme is 31st December 2023.  The Supplementary Retirement Scheme (SRS) complements the Central Provident Fund (CPF) system by allowing account holders to reduce their current income tax. Unlike CPF, SRS is a voluntary scheme.  You have full control of the […] The post 6 Mistakes to Avoid with Your SRS Contributions appeared first on Karen Tang, CFP®: Certified Financial Planner in Singapore. Source ..read more

For the Her World August issue this year, I had the privilege to contribute to a story titled “Are You Ready To Leave The Family Nest?”. The article also highlights some of the findings from Her World’s Women and Money Report 2023.  I’m sharing with you my answers to the concerns that the article aims […] The post What You Need To Know Before Leaving The Family Nest appeared first on Karen Tang, CFP®: Certified Financial Planner in Singapore. Source ..read more

What is an executor and what does it mean to be an executor of a will? It is an honour to be chosen as an executor of someone’s will. It is also a ‘heavy duty’ role that requires patience and diligence in carrying out the responsibilities. Anyone can be appointed as an executor, as long […] The post What Does Executing a Will in Singapore Entail? Here’s A Checklist appeared first on Karen Tang, CFP®: Certified Financial Planner in Singapore ..read more

I have been asked this question quite a lot in the past 6 months. Hence, I thought it would be good to explain the differences in an article.     A quick Google search came up with the following definitions of Unit Trust, Mutual Fund and ETF.   According to Wikipedia:   “A unit trust is […] The post Differences & Similarities between Unit Trusts, Mutual Funds and ETFs appeared first on Karen Tang, CFP®: Certified Financial Planner in Singapore ..read more

One key take away from the current inflation environment is that low inflation is by no means guaranteed. Inflation will never go away. But what you and I can do to preserve our buying power is to ensure our money grows beyond the inflation rate. Growing money against inflation requires strategies that suit your financial […] The post 9 Ways To Grow Your Money Against Inflation appeared first on Karen Tang, CFP®: Certified Financial Planner in Singapore ..read more

Unit trusts, also known as mutual funds, are a popular investment option for investors in Singapore due to several benefits they offer. Some of the key benefits of unit trusts for investors in Singapore include: Diversification: Unit trusts allow investors to diversify their investments across a wide range of assets, such as stocks, bonds, and […] The post <strong>What are the benefits of unit trusts for investors in Singapore?</strong> appeared first on Karen Tang, CFP®: Certified Financial Planner in Singapore ..read more