What On Earth Is Goal-Based Investing?

First and foremost, we must define what traditional investing is. Traditional asset allocation optimizes the structure of a portfolio based on a generalized approach. Although it typically suits the needs of the institutional investors, it is not necessarily adapted to suit the needs of a private investor. A private investor, such as yourself, tends to create different portfolios corresponding to different needs.

On the other hand, goal-based investing is a relatively new approach in investing where the end justifies the means. Investing is directed to attain specific financial goals throughout an investor’s life.

“Goal-based investing involves a wealth manager or investment firm’s clients measuring their progress towards the specific life goals, such as saving for children’s education or building a retirement nest-egg, rather than focusing on generating the highest possible portfolio return or beating the market.” – Investopedia

Simply put, it re-frames success based on an investor’s needs and goals. Say that an investor’s primary goals are to save for the golden years and to save for the educational fund of his grandchildren. Goal-based investment plan would be more conservative for the former and more aggressive for the latter. As you can see, this approach will help you to withstand most market conditions and volatility.

Apply goal-based investing to your wealth management by following these steps:

Image Credits: pixabay.com

STEP 1: DETERMINE YOUR GOALS

Before anything else, you must identify your financial goals depending on your current life stage. Let us dive into some practical examples. As a young working adult, you may be eyeing on the latest gadgets (e.g., smart glasses, laptops, or smartphones). As a devoted parent, you may be considering the different educational options for your child. As a Singaporean reaching 62, you may be thinking about building your retirement fund. Having multiple goals in mind throughout the course of your life is perfectly fine!

STEP 2: ESTABLISH A TIMELINE

As you list down all your financial goals at the moment, you must keep prioritization in mind. Prioritize your goals by examining which ones you need and which ones you want to have. Afterwards, you must create a timeline for your final set of financial goals.

Do you aim to travel next month? Or, do you need to purchase a flat in the next 10 years? Measure the amount of time needed to realistically reach your short-term and long-term goals.

STEP 3: KNOW WHERE YOU START

How can you plan ahead, if you do not know where to start? Pinning your starting point is important in helping you achieve your financial goals. Administer a simple financial assessment by asking yourself a few questions. Firstly, how much money have you saved up? Secondly, do you have an emergency fund? Lastly, how much are your net worth and cash flow?

STEP 4: CREATE AN INVESTMENT PLAN

You are done with determining your final set of goals, setting a realistic timeline, and drafting your starting point. What is next for you? Well, you must put all of the above information together to create an Investment Plan. Create this by looking at four factors namely: risk profile, investment options, target amount, and asset allocation.

STEP 5: EXECUTE THE INVESTMENT PLAN

Investing for your financial goals does not stop with opening a savings account. You do not need to accumulate a massive amount of money to start investing neither. Instead, you must invest in a consistently as early as possible. As you invest religiously throughout your life, you need to review whether there are on the right path. Are you doing these things to achieve your financial goals? If so, continue on.

Image Credits: pixabay.com

Goal-based investing is a relatively new approach in investing where the end justifies the means. It may seem like an obvious or an oversimplified concept, but it represents a departure from the typical risk-tolerance framework. Will this investment strategy work well with your wealth management practices?

Sources: 1 & 2

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Make easy cashless payment in Thailand with Singtel Dash

Singtel Dash is now accepted in Thailand, Singaporeans’ favourite holiday destination!

Thanks to VIA, the new cross-border payment alliance, you can continue to make easy cashless payment in Thailand with your mobile phone!

Forget queuing at money changers or fumbling with multiple currencies. Just tap or scan with your phone while you eat and shop away! Enjoy the convenience of paying in Singapore dollars at highly competitive exchange rates, and view both Thai Baht and Singapore dollars just before you make payment — no fear of additional fees or charges!

Simply Simply look out for the VIA logo at thousands of participating retail and F&B stores in popular shopping destinations like JJ Mall, Chatuchak Weekend Market, Central World and more. Visit https://www.viaconnects.com for more details.

Download and sign up for a free Singtel Dash account via the App Store or Google Play Store now!

Available for a limited period only, check out these exciting deals when you pay by Dash!

  • 10% Cashback1 for all your spends in Thailand (promotion ends 31 December 2018).
  • ReadyRoam 1GB 30 days Thailand at only $5 (U.P. $12)2 for Singtel postpaid mobile users (promotion ends 31 October 2018. SMS ‘1’ to 727840 for instant activation).
  • 63% OFF3 Etiqa Travel Insurance for Thailand (promotion ends 31 December 2018. Enter promo code DASH2THAI upon checkout).
  • 8% OFF4 on IUIGA’s travel & outdoor items (promotion ends 30 November 2018. Enter promo code DASH8 upon checkout).


1Promotion is valid till 31 December 2018. 10% Cashback is capped at $5 per customer. Full payment must be made with Dash QR Code payment through VIA or Dash Visa Virtual Account through Visa payWave. Terms and conditions apply.
2Promotion is valid till 31 October 2018. The 30-day plan is valid upon activation and non-refundable once commenced. Auto renewal will apply upon exceeding the 1GB quota within the 30-day validity period (per local time). Terms and conditions apply.
3Promotion is valid till 31 December 2018. Promo code must be entered at point of purchase on Etiqa’s website. Promo code DASH2THAI is only applicable for travel insurance for Thailand. Full payment must be made with Dash Visa Virtual Account. Terms and conditions apply.
4Promotion is valid till 30 November 2018. No minimum spend required. Promo codes are applicable for all products under Travel & Outdoor except luggage. Full payment must be made with Dash Visa Virtual Account. Terms and conditions apply.

Visit www.dash.com.sg/deals for more information.

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Changi Recommends: No Bill Shock – Only Convenience And Savings When You Book With ChangiWiFi.

Being connected while you travel is an essential nowadays. How else do we search for directions to that hyped café, museum, or that amazing rooftop view? Although there are many alternatives for data coverage in the market, it is also important to select the most cost effective option, and therefore, we recommend ChangiWiFi for your travels, a Wi-Fi router service which covers more than 70 well-travelled countries, with packages for multiple countries as well.

ChangiWiFi’s service started back in 2015 with intentions to offer affordable data roaming services to its customers. Here are 6 reasons to select ChangiWiFi amongst your choice for data roaming.

1) Convenience

Booking a ChangiWiFi router is simple, head over to ChangiWiFi’s official website and place a reservation, choose your point of collection at one of the Changi Recommends counters across all 4 terminals in Changi Airport and submit your booking! Collection points are located at the Public Area of each terminal and can be collected right before your departure. Being able to collect it right before your trip is a bonus, as it does not require you to stay at home twice — to receive and to return your routers as required by other Wi-Fi rental companies. This takes away the trouble of time wasting if the delivery personnel happens to be late and you have other important things to attend to. Upon return, you can drop off your router at any one of the Changi Recommends booth too.

As service booths are open 24 hours every day, you can simply pick up or return your routers at the airport before your check-in, or after your arrival in Singapore.

2) No Bill Shock

If you are someone who opts for your data roaming plan while you travel, you may have experienced extra data costs which were excessive from overusing your data, or accidentally forgetting to terminate your roaming plan. However, choosing to use a Wi-Fi router may just take away these problems. Furthermore, Wi-Fi routers do not have a limit to how much data you can use, and if your problem is retaining your mobile number for important calls and texts, a Wi-Fi router allows you to do that too!

Here is a comparison between ChangiWiFi’s router and other Telco’s roaming plans.

3) Value For Money For Group And Business Travellers

One of the many benefits of a Wi-Fi router is being able to share data connection on more than 1 device. As seen in the above table, ChangiWiFi’s router can be connected to up to 5 devices. This means cheaper connection if you are travelling in a group, as you can split the cost of the rental fees with up to 5 travel buddies!

If you are a business traveller who owns many phones and needs to connect them to the internet for communication, or your laptop, having a Wi-Fi router may be an option for those who always search for internet connections. Besides, not all hotels offers great Wi-Fi access right? It is definitely time and money saving if you think of the bother.

4) May Be Cheaper Than SIM Cards

Yes, you read right. If you compare SIM card charges for certain countries to ChangiWiFi’s router rental fee, you might just end up paying lesser. Here is a comparison of buying a SIM card for a one week trip to Japan, or renting them from ChangiWiFi (with promo code benefits).

Most SIM cards for Japan is only available for purchase for 8 or more days of travel, that means paying a hefty price for a SIM card for those who are travelling to Japan for a shorter period of time.

Above is the cost of renting a Wi-Fi router from ChangiWiFi! As you can see, you are actually paying lesser for your one week trip, and for those who are travelling for 8 days even, it is still cheaper than a SIM card! What’s more, you can share the price of the router rental with your peers who are going with you on the trip. That’s a score if you ask me!

5) Ensure Smooth Internet Access While You Travel

ChangiWiFi offers 24 hours customer service and technical support for their Wi-Fi rentals. If you have any trouble overseas with your router, you can just email or WhatsApp them for assistance. This means that you can contact them during the weekends or public holidays as compared to other router rental services!

6) No Fair Usage Policy For Countries Like Australia, Japan, South Korea, And Taiwan

Although fair usage policy varies from country to country, there are some countries who do not enforce this rule like the above. However, some Wi-Fi router rental companies offers rentals for Wi-Fi devices for parts of the world instead of single country usage, and this limits the 4G/3G coverage of the device per day to 500MB before becoming extremely slow. Therefore, if you happen to rent those for a one city visit, it may not be feasible for group vacations or a heavy data user. ChangiWiFi though, offers Wi-Fi rentals for each country you visit, and for that, you would get unlimited data for the above countries!

ChangiWiFi Rental Rates And Promotions

ChangiWiFi rental rates are highly affordable for everyone. Prices starts from $5 a day depending on country and Changi Recommends tries to constantly add on more cities for everyone’s convenience. For those travelling to China, do not worry about VPN access as ChangiWiFi has got them covered for you too! Oh yes, did I mention you do not have to pay for your rented router till your return? You would only need to deposit $1 on your departure and pay upon your return.

Also, they are running a promotion currently which offers 2 days free ChangiWiFi rental for your trip! This promo code runs till January 2019, for travels up till February 2019.

To book a ChangiWiFi Router, visit ChangiWiFi’s official website. Do take note that walk-in rentals are available, however, subjected to availability of routers.

 

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5 Ways to Have A Luxury Romantic Vacation

Right after getting married, you both want to explore the world with love.

You might have decided the list of places you want to visit with your spouse, but she might not have agreed on some locations she doesn’t like, or she visited already. So, in this situation you both better have a detailed meeting and create a list of places you both want to explore.

The next concern that would raise its head is how you both can make your honeymoon full of life and romance; this is not even the hard nut to crack because we have got 5 ways to make your trip luxury and romantic.

1. Make Sure It Is Heartfelt
Your enchanting trip should be heartfelt for both of you. What this means is, if you really want to visit the Andes and discover about the Atacama people, but she doesn’t like it, then don’t try to make that your romantic journey.
Find a thing that is going to be special for both of you.

One reason why you’re together is actually that you share similar likes and dislikes on some levels. Find all those parallels and search for a special experience that can complement those.

You can experience some adventures in your own state or area. Therefore, you don’t need to make a huge investment decision to go somewhere exotic. You can easily create that unforgettable, enchanting trip and save your valuable money.

2. Research Online
Search engines like google today is a great source to find destinations. In past times, you would have to get in touch with a tour operator or go to the local library to find details about vacation spots. Today, you just visit google.com, type in the search terms for example “romantic places in Singapore” and click the search button.

You can easily search for some romantic vacation trips in your neighbourhood or even find a location that is thousands of miles away. You can also find the best prices for each trip depending on the distance and facilities provided by the tour operator.

The online world can certainly help you define your choices based on your capacity to pay, exactly where you wish to go, and what you want to do.

3. Increase Your Savings
If you want to go outdoor next year, then you better increase your savings now. By putting away a modest amount of money regularly, you’ll have the ability to pay for a truly passionate getaway without having to be concerned about expenses. You really want your adventure to be unforgettable with romantic, happy memories, but not with nerve-racking anxieties about how exactly you’re planning to pay for every little thing.

Most of the couples spend a lot in the local parties and outings. Well, if you want to go somewhere away from your world and enjoy the different and adventurous experience then saving money right after your marriage will be the best bet for you.

4. Gear and Equipment Are Important
It is best to buy the right travel equipment and gear while you leave for your first adventure, and most of the other items that you may need must be in your luggage as well.

Most of the sites provide a list of important items which are needed mostly for some places around the world. For example, if you are heading to Bali, then bringing some bikinis, colourful beach hats and beach sandals will be the necessary items.

You are a newly married couple, and you don’t want to leave a formal touch in your dressing the way you were both in your wedding function. Well, trust me, that would look awkward. You don’t have to dress up formally when going out for the trip, just think about some easy to wear and easy to carry stuff. Go for small sized things such as travel outfits or footwear, baggage, accessories; all are available in the market specifically designed for backpackers or travellers.

5. Spend Money on Experiences but Not on Material
Do not forget that your experience is a lot more important than what was bought. So, spend on your special experiences during the romantic trip instead of concentrating on buying the things.

A honeymoon trip is a once-in-a-lifetime experience, and you don’t want to lose it. Saving right after you got married counts a lot because it is a common rule of nature that responsibilities start knocking the door when it comes to managing a happy married life. There will be a long list of basic expenses, and you may never make your trip happen later in your life.

Just make your getaway a thing you’ll both remember. You will certainly be thrilled to do another one.

 

 

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How To Become A Money Magnet

Equipped with a best-selling spirituality book, you realized that there was a secret to cultivating the life you want. I know how bizarre this sounds, but hear me out! Rhonda Byrne, The Secret’s author, claims that our thoughts can influence the world we live in. This concept of manifesting destiny is called “Law of Attraction”. According to this concept, investing positive energy and belief can lead to a desired outcome. In contrast, negative thoughts may attract negative outcomes.

Similar to other philosophies, the Law of Attraction stresses how the universe and its creations are made of flowing energy. Your energy can be used to either attract or repel money. To attract money based on the Law of Attraction, you may follow these steps.

STEP #1: OBSERVE YOUR THOUGHTS

How can you lure money into your life, if you feel negative about it? What goes around comes around. Before changing your thought patterns, awareness of your thoughts on money is important. Be mindful with how you speak about money and wealthy people.

Image Credits: pixabay.com

Do not be quick to diminish your worth. Instead, appreciate what you have. Law of Attraction entails that you train the universe to send you more money by receiving and appreciating it.

STEP #2: RE-FRAME YOUR THOUGHTS

Have you noticed that whatever you do in two weeks straight usually becomes a habit? The act of repetition is essential to reprogram the minds of animals as well as humans. Reprogram your mind to attract money by wishing for abundance.

Law of Attraction encourages you to send positive signals to the universe by dressing the part, by surrounding yourself with money savvy individuals, and so on. Behave in a way that is directed towards your desires.

STEP #3: MAKE A LIST

Visualization is one of the key tools of the Law of Attraction. It allows you to create a path that you can reach for. You are empowered to create a vision for your financial life. Be clear about the amount of success and abundance that you want to achieve. It is recommended to practice visualization on a daily basis.

Dive into the feelings of abundance by either making a financial list or by making a money vision board. Practicing visualization on a daily basis may open opportunities to manifest these items.

Sources: 1 & 2

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