Money Mat­ters

Where to turn to for fi­nan­cial ad­vice when you need it, and some thoughts on a dif­fer­ent kind of in­vest­ment.

Expat Living (Singapore) - - Contents - – B.R. BY KEL FLANDERS

Ask­ing for Ad­vice

In any for­eign coun­try, Sin­ga­pore in­cluded, man­ag­ing your ex­pat salary and your fi­nan­cial fu­ture can seem daunt­ing. If you’re wor­ried about cer­tain money-re­lated as­pects of your life here, opt­ing for a fi­nan­cial part­ner might be the way for­ward. For some, it can be an enor­mous help in se­cur­ing their fam­ily’s fu­ture while mak­ing the most of be­ing away from their home coun­try.

Ex­pat Fi­nan­cial Plan­ning, a di­vi­sion of Glob­al­eye, has been pro­vid­ing ad­vice for ex­pats for the past 10 years, on ev­ery­thing from in­sur­ance is­sues to sim­pli­fy­ing tax. It has a team of in­de­pen­dent ad­vi­sors who pro­vide un­bi­ased fi­nan­cial so­lu­tions to both cor­po­rate and pri­vate clients, who num­ber 15,000 world­wide. We spoke with one of those clients, based in Sin­ga­pore, about their ex­pe­ri­ence.

I’ve been here for three years, hav­ing moved from the UK. With lit­tle un­der­stand­ing of fi­nan­cial mar­kets and the best way to save, it seemed sen­si­ble to ap­proach pro­fes­sion­als in the in­dus­try. It wasn’t an easy de­ci­sion where to in­vest and save money, so it made sense us­ing a com­pany where I had a con­nec­tion.

What sur­prised me was how flex­i­ble plans could be. I’d heard so much about fi­nan­cial plans that lock you into a com­mit­ment for a fixed pe­riod with lit­tle scope for ad­just­ment. It had never been brought to my at­ten­tion that there are plans avail­able with 100 per­cent flex­i­bil­ity, al­low­ing you to in­crease the amount in your fund by as lit­tle or as much as you want and with no fi­nan­cial penalty if you’d like to take money out.

I re­ally feel work­ing with Ex­pat Fi­nan­cial Plan­ning has de­vel­oped my fi­nan­cial re­spon­si­bil­ity early on and given me a greater un­der­stand­ing of the ways in which I can save be­ing an ex­pat.

My ad­vice to any­one think­ing about get­ting fi­nan­cial ad­vice would be to start as early as pos­si­ble with any amount you feel com­fort­able with.

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