More Than 50% Singaporeans Not On Track To Meet Financial Goals

This is a great read from Dr wealth.

“According to a Straits Times article earlier last year, Singaporeans tend to start saving earlier for retirement. That’s a good sign and I have met many young people who are already thinking about planning for retirement. However, more than 50% find that they are not on track to meet their financial goals.

That’s alarming as even though they start saving early, they are still unable to meet their financial goals. It could be due to various reasons.

 

1. Insufficient Savings Set Aside From Income

Insufficient savings is one of the main reason for being unable to meet financial goals. Even though they claim to be saving, they could still be undersaving relative to their gross income levels. Overspending or undisciplined use of credit can contribute to insufficient savings. At least 10% of gross income is recommended to be saved annually.

 

2. Poor Risk Management

A major disease or accident can lay waste to any savings plan if the risk is not managed appropriately. Private medishield plans are necessary to cover the inadequacy of the basic medishield plans. Life insurance coverage requirements should be calculated carefully to ensure that the dependents will not have financial problems. It is highly recommended to separate insurance from investments to reduce the cash outflow. Term policies are also cost effective ways of ensuring sufficient coverage.

 

3. Failure to Invest or Insufficient Investment Returns

The survey further reports that “to achieve their financial goals, 51 per cent of Singaporeans aim to save on a regular basis, while 48 per cent plan to cut down on their spending, but only 31 per cent of those polled will purchase an investment product.”

With only 30% of those polled willing to invest, the other 70% will have their cash depreciating in value over time. Many people underestimate the impact of inflation on their savings. It reduces the purchasing power of money over time as expenses get more expensive and the effect becomes magnified over time. It is also important to learn how to invest smartly as most savings products out there do not have very good returns.”

The above article is extracted from www.drwealth.com

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FirstRes: Bullish Setup!

firstres

Bullish Signal: Bullish reversal candlestick pattern with Stochastic bullish crossover!

Entry price: $2.07

Stop loss: $1.98

Profit target: $2.19

Reward to risk ratio: 1.3

Do like my facebook page https://www.facebook.com/jeffsunh for more trading calls!

PS: the next seminar on 28th january is already full house! the following seminar will be on 9th February (Sunday) !

https://www.eventbrite.sg/e/how-i-made-200-annual-profit-at-25-spending-just-30mins-a-day-tickets-10285114053

Thank you!

Screenshot_2014-01-22-15-12-18

Do like my facebook page https://www.facebook.com/jeffsunh for more trading calls!

PS: the next seminar on 28th january is already full house! the following seminar will be on 9th February (Sunday) !

https://www.eventbrite.sg/e/how-i-made-200-annual-profit-at-25-spending-just-30mins-a-day-tickets-10285114053

Update: Del Monte Profit!

Del Monte triggered our contra profit yesterday when crossed above 5% intraday! posted it on the website http://singaporestockstrading.com/2014/01/19/del-monte-bullish-setup/ and my facebook group 2 days ago!

Screenshot_2014-01-21-15-10-08

 

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Do like my facebook page https://www.facebook.com/jeffsunh for more trading calls!

PS: the next seminar on 28th january is already full house! the following seminar will be on 9th February (Sunday) !

https://www.eventbrite.sg/e/how-i-made-200-annual-profit-at-25-spending-just-30mins-a-day-tickets-10285114053

Mirach Ener: Bullish Setup!

mirach

Bullish Signal: Bullish flag in formation awaiting for high volume expansion!

Entry price: $0.21 with volume exceeding 150million by 12pm!

Stop loss: $0.174

Profit target: This is an intra day trade. Close position at 4.55pm before market close.

PS: the next seminar will be on 28th january!

https://www.eventbrite.sg/e/creating-a-secondary-income-through-high-probability-trading-with-just-30-mins-a-day-tickets-10197546135

SuperGroup: Bullish Setup!

ss

Bullish Signal: Bullish flag in formation awaiting for high volume breakout!

Entry price: $4.02 with volume exceeding 800k by 12pm!

Stop loss: $3.87

Profit target: $4.29

Reward to risk ratio: 1.8

PS: next seminar on 21st is already full house! the following seminar will be on 28th january!

https://www.eventbrite.sg/e/creating-a-secondary-income-through-high-probability-trading-with-just-30-mins-a-day-tickets-10197546135

Del Monte: Bullish Setup!

del monte

Bullish Signal: Bullish reversal candlestick pattern!

Entry price: $0.625

Stop loss: $0.6

Profit target: $0.665 (Contra Trade: 5% intraday upside)

Reward to risk ratio: 1.6

PS: next seminar on 21st is already full house! the following seminar will be on 28th january!

https://www.eventbrite.sg/e/creating-a-secondary-income-through-high-probability-trading-with-just-30-mins-a-day-tickets-10197546135