Yvonne Lim

#1 The key is to be happy FIRST

So… I am back from my “Recharge Trip” to Krabi and I am now rejuvenated and ready for the next stage of 2014. Just like the equity market, which also took a breather (markets corrected with global investors taking profits) but is now ready for the next up-leg.

But more about my trip for now…This time round when I set out for my trip, I planned a little project for myself – that is, to get to know 3 other travellers and to ask them about their view/story on one of the following topics: Happiness, Love & Career.

And here is the one on Happiness.

His name is Henry and I met him while hiding from the rain on my 3^rd day at Krabi. We had pretty long conversation about the relationship between Money & Happiness and about how our society is really attached to the belief that Money can make us happier – people believe that the new dress, a new car, bigger house, better paying job will make them happier (though research has shown that it does not, at least not for the long term).

However, this isn’t all to it. A day after returning to Singapore, I attended a training by Liberty. The speaker shared the exact same thing (seriously, what are the odds) but with an extension and I think it wraps up the relationship between Money & Happiness nicely.

A lot more wholesome, don’t you think?

A great doctor may be able to cure a sick man but it is when he is equipped with the relevant resources that the same doctor can cure 100 others.

Disclaimer: this is an almost self-centered piece because I am going to explain why I am the ‘To-go-to’ advisor if you have an insurance need. And I would love for you to read this simply because it is about making a stand, for the platform that I am on.

Over the course of last week, 6 of my friends/clients asked me about retirement & investment planning and it is comforting to know that these people really do trust me and my opinion on the matter.

However, I got the feedback from 2 of that 6 friends that I am not their Top-Of-Mind person to go to when it comes to Wealth Protection solutions (e.g: health & life insurance needs). That is, I am viewed as the person who can help them “grow” their wealth but not the one whom can help them “protect”their wealth. I was curious to know why and in the end, I realise it is simply a matter of perception (not even because they have husbands/best friends/sisters/bro-in-law in the same line) I was quite bothered.

Because Financial Alliance actually partners with 12 life and 28 general insurers.
This means that I can

1. Find the insurer who can cover you for what you want, at a better value
Meaning to help you receive more for the same dollar paid or pay less for the same coverage received. E.g: Being able to pay $1000 instead of $1,500 for your insurance.

Continue reading A great doctor may be able to cure a sick man but it is when he is equipped with the relevant resources that the same doctor can cure 100 others.

The important questions to ask yourself & your parents.

As people become more financially savvy & aware, many also become more sensitive about their parents’ financial plans (or lack thereof) and are concerned about how it may affect their own planning & dreams. Most commonly, we are concerned with what happens when our parents fall ill because such an event can have detrimental impact to your financial plans.
For example, if the need for long term care arises, as the cost of such care in Singapore can run very high.

A one-month stay in a community hospital can go up to $9,000. You can use medisave to pay, but only up to $5,000 a year.
In a nursing home, the cost is between $1,200 – $3,500 a month.
If you choose to provide the care services on your own, you would likely need the help of a domestic helper to support you in caring for your loved ones. On top of that, each nursing visit cost between $80-$220 (per visit).
From this link, you can get an overview of the costs involved for each type of long term care in Singapore.

Continue reading The important questions to ask yourself & your parents.

The similarities you didn’t know exist.

As I was reading the quote from my previous post (You cannot produce a baby in 1 month by getting 9 women pregnant.), I got the idea that perhaps, investing is actually really more like pregnancy and parenthood than we imagine. Here’s why.

In the first trimester // When you first Invest

Many mothers experience the most anxiety in their first trimester. This is when they are the most careful, as they may fear harming the baby. First time mothers have it worse as they have no prior experience and do not know what to expect, some may be in a constant state of anxiety. In view of this, most mothers turn to the internet/advice/books to learn more about parenthood. Some may become experts in the field, while others may end up following superstitions that are unhelpful or if not, completely false,

This is the same for many first time investors who can be unsure of how their investment would fare. Would they lose their capital? How should they manage their investment? Like mothers, investors turn to the internet for information or seek advice from others in such times of uncertainty.
The same pitfall applies – because it is easy to be misled by one-sided information. Like motherhood, it is important for investors to be receiving good and relevant advice.

Continue reading The similarities you didn’t know exist.

Some things just take time

Quite a few of my clients asked about the market recently, fearing potential technical correction, partly in view of the run up and in part because of the Portugal banking crisis … After all that has been said and done, the pullback was minimal, if any at all for some markets.

But such a quote comes in handy to keep ourselves grounded in times of uncertainty. some things just take time – You cannot produce a baby in 1 month by getting 9 women pregnant.