SG Wealth Builder

To make money. To build wealth. To preserve wealth.

Unconditional love

In my previous article, I chronicled the life of Dad and wrote about his demise two weeks ago. In this post, I would like to share with my readers on a few reflections of mine. No doubt many of us are busy making money, but I think it is important that sometimes we pause down and reflect on events in our lives.

Importance of protection
I am not an insurance agent and I don’t work in the finance industry. But you might be aware that in my previous articles, I have always encouraged my readers to insure themselves adequately. It is also important to educate yourselves on the type of insurance that best suit your needs. In my father’s case, when he was healthy, he ignored the importance of buying insurance. It was only after he suffered from stroke, then he regretted and realised his mistake. By then, no insurers would offer to protect him because he was considered a high-risk personnel to insure. Even Great Eastern rejected his Dependent Protection Scheme and returned his pro-rated premiums. So do make sure you are protected adequately and purchase insurance policies when you are healthy. My view is that term insurance policies offers the best protection value because for a low amount of premium, you can be insured for a large amount of money. Don’t waste your money on expensive whole-life or investment-linked policies. You are only fattening the wallets of insurance agents.

SG Wealth Builder

Quality time with family
A few readers wrote that they are making effort to spend quality time with their aging parents. I think that’s good and commendable. Recently, I came across several online articles that mentioned that we should “invest” time with our family. I don’t like the word “invest” because when we talk about investment, we expect returns. But we shouldn’t view relationships with our family in terms of gains or losses. After all, our parent’s love for us is unconditional, so why should our love for them be conditional? Very often, our parents don’t need us to buy them expensive meals or gifts, they just want to have more quality time with us. So do make effort to spend time with your parents as they would not be with us forever. There are things money cannot buy and kinship is one of them. Now that I had become a father, I can truly appreciate this point.

Join me in my investment journey and read my financial adventures for free! Through the sharing, my vision is improve and change people’s lives. In school, we don’t learn how to budget, manage our finances, build wealth and invest our money. Instead, we are taught useless subjects which we would never put to use most of the times during our working lives.

Yet, managing our money is an important life skill that is critical to our survival in the society. Many people start to realize how it is importance of managing money only when they face the prospect of financial ruins, by then which would be too late for remedies. Thus, I started this blog to share articles on finances which I aspire to make a positive impact in others’ lives.

You can opt to subscribe email updates on my articles for free by entering your email address below.

Subscribe to Blog via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Magically yours,

SG Wealth Builder

Updated: May 21, 2016 — 4:33 pm

1 Comment

Add a Comment
  1. I have to learn it through painful way on ILP and while Life. I have bought both of them. Sad!:-(

Leave a Reply

SG Wealth Builder © 2016 Frontier Theme
%d bloggers like this:
More in personal finance
SG Wealth Builder
Importance of Emergency and Opportunity Funds

Today is the last day of year 2012. I am happy to note that I managed to build up my...

Close