To many, insurance seems like an unnecessary expense that covers remote risks we are unlikely to experience in our lifetime, and medical advancements and increase in life expectancies might make us complacent. Similarly, investing your savings to grow your wealth especially for retirement may seem too far off to worry about and is not a priority.

With rising healthcare costs, higher costs of living, and a longer life expectancy, it is actually more necessary than ever to start early and with the right investment and insurance strategies at each stage of your life so that you can safeguard your quality of life into retirement, and live better today and in the future.

In this session we will cover the following:

  • The personal journeys of Val & Sam
  • What is more important? Insurance or investment?
  • How do you balance insurance vs investment at different life stages?
  • What are some common challenges associated with protecting our savings and wealth?
  • How do we accumulate our wealth effectively in a post-covid economy?
  • What do we need to do for our retirement and children’s education?

1:37 Introduction to Endowus

5:05 Introduction to PolicyPal and Val's journey

22:22 Sam's journey

30:38 What kind of insurance protection do you need?

35:04 Why buy term, invest the rest?

43:00 How to effectively use Insurance and Investments to secure your financial future

52:25 How to fully utilise your CPF for health insurance?

1:00:51 Holistic financial planning

1:12:30 Achieving success in retirement

1:18:54 QnA

Excerpts from the Presentation

Sam's personal journey and motivation of leaving the corporate world and starting Endowus (22:22)

Sam: After a long time working in the asset management industry, I took a sabbatical in Korea. I came across a staggering statistic that states that 50% of old-age pensioners have income below the poverty level. This was shocking, given that Korea is a relatively developed country. Here in Singapore, we see a similar trend.

There is a lack of financial education in equipping people for their financial future. My partners (Greg and You Ning) and I also found it was difficult to find access to good investment products, good advice and it does not help that the cost of investment was high.

With the experience I had, and with my partners, we were determined to provide these financial services aligned to our clients' best interests, to try and solve the specific problems of investing here in Singapore within CPF, SRS and Cash.

Q: How should we think of financial planning? How do we segment our money by buckets working towards our goals across CPF SRS and Cash (1:00:51)?

Sam: Think of these buckets in investing and saving - first, you can use Endowus Cash Smart to manage short term money and liquidity. For the long term, with CPF and SRS, you can take more risk because growth assets like equities will deliver long-term returns.

Q: Should we cancel Investment-Linked Policies (ILP), convert to term and invest the rest (1:26:54)?

Val: Everyone has different circumstances and different policies which you might have bought previously. Before you cancel any plan, it is important to first review your current portfolio and find out the policy's surrender value. You can write to PolicyPal at hello@policypal.com to arrange a digital zoom consultation with us.