Summit Planners Xchange

For Kelvin Tiang, the pandemic year has opened his eyes to new ways of working, living, and connecting. Becoming a father of an adorable baby girl has no doubt added to the fulfillment felt during his Xceptional and Xtraordinary journey here.

“One of the most Xtraordinary lessons I took away was the need to keep retirement planning at the top of my mind. A client I met wanted to retire in four years. However, he had not given much thought to or regularly reviewed his retirement strategy.

Despite his unsavoury experiences with other consultants, he agreed to a full policy review with me. From there, I helped him consolidate and update his various policies and managed to set up a good retirement plan to cater for him and his wife’s needs.

Always thankful to be of help and grateful for the people who trust me!”

💡 We have reached the halfway mark of 2023, and it's time to evaluate where you stand in achieving your New Year's resolutions. This is a critical time as you can either continue striving towards your goals or give up on them altogether. Therefore, it's essential to remind yourself of the reasons you set these goals in the first place and the potential benefits you can reap if you achieve them.

Remember that it's never too late to start working towards your goals, but it's crucial to take action now to avoid any regrets in the future.

With hard work and dedication, you can still achieve your goals and make this year a success. Let's make the second half of this year count and strive to become the best version of ourselves. 💪

The law of attraction is more than just physical. Whether it's in relationships or in life, the energy you put out into the world can often determine the kind of experiences you attract. It's about aligning your mindset, intentions, and actions to manifest what you truly desire.

The first step is to get clear on what you want and focus on the positive aspects of it rather than dwelling on what you don't want. Then, take inspired action towards your goals, even if it's just a small step each day. And remember, the energy you give out is the energy you'll receive, so make sure to radiate positivity and gratitude.

We are a collective of driven individuals from different backgrounds. We believe that it is a unique diversity united by one common goal of serving from heart that has allowed us to rise above the challenges and keeping growing.

If you too, are motivated by a passionate purpose to better lives through good financial planning, connect with us right now! We will be happy to find you the right fit within our growing family.

Yes, indeed. The best way to save money is not to waste it. Simple enough!
Thus, do a personal finance audit to w**d out the areas in your life you’re wasting money and make the necessary changes to reduce waste.

After you complete your personal finance audit, you will be surprised.
So get ready for the surprise with me!

That's absolutely true!

Financial planning can be overwhelming if you don't know where to start, but it becomes much less intimidating once you begin to understand the basics. Developing a financial plan allows you to set meaningful goals, prioritize your spending, and make informed decisions about how to manage your money. Whether you're just starting out or have been managing your finances for years, a solid financial plan can help you gain control of your money and work towards the future you want.

If you have any questions or need any assistance with financial planning, please don't hesitate to ask!

Happy Father's Day to all the amazing dads out there! Today we celebrate the important role that fathers play in our lives. Whether it's providing guidance, support, or just a listening ear, fathers are always there to help us become the best version of ourselves. If you have a father figure in your life, be sure to let them know how much you appreciate them today and every day.

That's a common issue for many people. It's easy to accumulate things over time and before you know it, your closet is overflowing. But it's important to remember that while having things can bring temporary happiness, Get your financial value right - they can help you make sound decisions and live your best life

It's also important to create a budget and stick to it in order to avoid overspending and accumulating more things than you need.

Turning your passions into something concrete and tangible. It’s about doing, not just thinking. The result of your purpose is having something tangible to show for it. You will have created something from your passion. And you will find fulfillment on the other end.

A great way to plan and budget wisely during payday is to create a monthly budget that includes all of your expenses, savings, and debt payments. Start by tracking your income and expenses for the past few months to determine your average monthly expenses. Then, create a budget that allocates your income to these expenses, savings, and debt payments.

When payday arrives, review your budget and make adjustments as needed. Pay your bills, make any necessary debt payments, and transfer money to your savings account before spending on discretionary items. If you have money left over, consider putting it towards a financial goal, such as paying off debt or building up your emergency fund.

It's also important to consider setting spending limits for certain categories, such as dining out, entertainment, and shopping. This can help you avoid overspending and keep you on track with your budget. Lastly, consider automating your savings and bill payments to ensure that they are taken care of before you have a chance to spend the money elsewhere.

In summary, planning and budgeting wisely during payday includes creating a budget, allocating your income to expenses, savings, and debt payments, avoiding overspending, automating savings and bill payments, and putting any extra money towards financial goals.

Kudos ato Elaine Loh and we are so proud of what she has achieved both professionally and personally. Let her heart-warming stories serve as inspiration for more to brave the Xceptional & Xtraordinary journey!

“2022 has been eventful. However, it has also shown me that I am an Xceptional fighter and and an Xtraordinary survivor. 2023, I am ready to do more!”

To our Buddhist friends and clients, have a blessed Vesak Day filled with peace and enlightenment.

#2023

In March, we celebrated the successes of all the hard work put in for 2022!
Having an agency that achieves at least 60% MDRT and above is never easy but you guys did it!

Therefore, we decided to specially include this night in our 2023 calendar to recognize the hard work that our consultants have done. Having plenty of MDRTs, COTs, and TOTs isn’t an excuse to take these hardworking and dedicated consultants for granted.
The market situation was not easy to navigate by any means - but you guys pulled your weight, and there is no greater testament to the skill, passion, and drive you guys have than the collective results you have achieved together.
We depicted this through our light show performance that sketched the journey of every adviser - rejection followed by success.

Many of you guys will rise up to become leaders and mentors in your own right, and the Summit Planners Xchange will flourish even more.

Congratulations to our 5 TOTs, 8 COTs, and 45 MDRTs!
Thank you once again for all the hard work! May this year be an even better one.

Meet Tracy Toh, one of the new additions to Team Xchange and already inspiring us with her big smile and immense strength. Having achieved Court Of The Table within six months, we have some insights about her Xceptional & Xtraordinary journey here.

Tracy: “I never thought I would leave my banking job - much less in the middle of the ongoing situation - so it was a bold move for me. Given these circumstances, I never expected to achieve COT in half a year.

My first client allowed me to see how I am truly impacting lives. Despite having other choices, he opted to take up my entire suite of proposed solutions for himself and his family. It dawned on me then that trust was the unbreakable bond that I had to keep strong.

How so? By asking the right questions, identifying gaps, making sound recommendations and most importantly, acting in my client's best interest.

It has been a challenging period for the less privileged, and I have actively donated to giving projects that help low-income families, old folks and migrant workers. I would strongly encourage others who have more to do the same.

Take a good look at your monthly expenses and be honest about how much of your money goes towards discretionary expenses a.k.a. your ‘Wants’.

By reducing your spending on your ‘Wants’, you will have more cash to put towards your investments. Need more help? Speak with us today!

Hell's Kitchen in Las Vegas is a popular restaurant and a great choice for a throwback dinner with our team! The restaurant is located in Caesars Palace and offers a unique culinary experience inspired by the TV show of the same name.

The menu features dishes created by world-renowned chef Gordon Ramsay and his team. You can expect to find a variety of classic and modern dishes, prepared with the highest quality ingredients and an innovative twist.

Some of the standout dishes at Hell's Kitchen include the Beef Wellington, the Lobster Risotto, and the Sticky Toffee Pudding. However, the menu is diverse enough to cater to different tastes and dietary restrictions.

Our team have a great time at dinner!

Exemplifying just how well consistency and competency go together, Neo Jiaying has achieved COT again. She shares how thankful she is for the understanding people who helped her through this Xceptional & Xtraordinary journey.

Jiaying: “I had to go through an operation which hampered my mobility for a while. I am so grateful to have colleagues and clients that are supportive and accommodating, and this episode has highlighted the importance of wellness.

During Xceptional times, one has to do Xtraordinary things. One of my clients, who runs a dance studio, had to close her non-essential business during the affected months. I supported her as she shifted to home-based learning while coping with the challenges of future enrolments. Thankfully, she has managed to pull through as well as gotten a business interruption claim cheque to compensate for the downtime.

Also, to emphasise the importance of enhancing one’s immunity, I mailed out vitamins to my clients. I hope to encourage them with the message: Protecting their future before the unexpected strikes can help them tide through and continue to thrive.”

As a millennial busy making your mark on the world, how do you feel about your current money situation? Make sure your financial plan is aligned with your life goals, and you will surely and steadily make progress!

Estate Planning involves creating a plan for the management and distribution of your assets after your death.

This can include creating a will, setting up trusts, designating beneficiaries for end-of-life care. It’s important to work with qualified Financial Service Consultants to ensure your wishes are carried out and your assets are protected.

“The warmth of your love, the tenderness of your embrace and the wisdom you impart can never be found anywhere else.”

Dedicate this day to all Mums with warmest wishes of a Happy Mother’s day!

How Heavy is your Debt?

It is crucial that you understand the importance of keeping debt in control. Carrying debt without a good plan to pay it off can lead to an unsustainable lifestyle and unpleasant consequences on your long-term financial health.

Throwback to our movie day!

We connect each other to be stronger!

“Don’t worry, we damn steady!”

AiM - stands for Intelligence within Asset Management.
There's no better time to take stock of your short- and long-term goals and make things happen!

Always keep positive emotional feeling that involves persevering towards a challenging goal despite obstacles.

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Do you have any tried-and-tested ways that help you stash away that extra bit of money every month? A little can go a long way!

Now that you have worked hard at saving up, it is time to make your money work harder for you. Let us share more about the solutions you need.

We all agree that there’s no achievement that is possible without persistent work.

Today is a special day that we are celebrating our efforts and the contribution to build a nation.

Have a great Labour Day

How much do you know about your Medisave account and what it can be used for?
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As its name implies, Medisave can be used to pay for certain medical expenses. However, before you gleefully think that you don't have to pay a single cent, do note that there is a cap limitation on the amount that can be used. There is a high chance that you have to fork out cash to cover the entire bill.
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To remedy that, you can buy an Integrated Shield Plan (using your MediSave funds to pay for part of the premiums), so you can count on your insurer to take care of your hospital bills rather than have to deplete your MediSave.
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Have questions? Drop us a message anytime!

“Taking a break is for accomplishing a longer journey.” Throwback to our Amsterdam Trip in 2022.

It’s ok not to be ok. We don’t have to be strong and tough all the time. Sometimes we are emotionally tired and broken, and we need rest. And that’s perfectly fine!

After having a good rest, you can set goals for the new year and vow to leave the past where it belongs. It’s time to celebrate everything that went right in the past and live in the moment to create an even better ME.

Successful people know the secret to success is to surround yourself with people who will be truthful and push you to be your very best. Then, when success happens, you thank those who helped you get there.

Every day, a small step forward is much better than just thinking and dreaming about your perfect life. Instead, create your ideal life by yourself.

While you're on the road to success, remember that what you do today will impact who you become.

Your future depends on you! So start working for your future today!

Most of us cope with a certain amount of personal debt; be it monthly credit card bills or mortgage loans. However, it spells trouble when debt begins to escalate or you find yourself in a situation where you are unable to repay your debts on time.
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Are you taking on more than you can handle? It may seem viable right now amidst the low interest rate environment, but be aware that interest rates can rise and present you with an even greater challenge later on. Connect with us to find out how you can optimise your financial strategy.

Source: www.straitstimes.com/business/companies-markets/personal-debt-soars-among-young-spore-adults-during-pandemic

Advice of the day from Nethan Chew, the Executive Vice President of Xchange.

“Every drop of water forms the sea, every bit more effort forms your legacy.”

”Act like 2023 is going to end today” and leave no regrets behind!

Let’s get all ready to SHIFT and SHINE brighter than ever before!

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Mentorship

1. Searching for an energising career with the right team?
- Mentoring is a key indicator of company strength and commitment.

2. Seeking an open platform where you can engage in constructive conversation? - Mentoring is all about communication.

3. Looking for an avenue to enrich yourself with industry knowledge?
- Mentoring has the insightful answers you seek.

💡 Financial mistakes can be made out of ignorance and misinformation. As professional financial consultants, we endeavour to offer the best financial plans to our clients and advise them against making the three common mistakes of:

❌ Not Protecting,
❌ Not Saving and
❌ Not Investing.

👉 To move forward in life, you have to learn from your mistakes. Delve into the reasons and analyse the challenges that hampered you from achieving your goals. Next, take actionable steps to ensure you don't tread on the same erroneous path.

Seeking the clarity and confidence to take those big strides? Feel free to reach out to us and we will be happy to shine a light.

👇 Drop us a comment below if you have any questions.

May you and your loved ones enjoy fortuitous blessings of good luck, health and wealth in this season of renewal! ‍‍‍‍‍‍ ‍‍

Happy Lunar New Year! 🧨

💡Are you aware of the latest Additional Buyer's Stamp Duty (ABSD) changes?

On 15 Dec 2021, the Government announced that Additional Buyer's Stamp Duty (ABSD) rates will be raised with effect from 16 Dec 2021, as part of a package of measures to cool the private residential and HDB resale markets.

⭐ These are the changes that you need to know:

Higher Additional Buyer's Stamp Duty (ABSD) Rates
Transitional ABSD Remission
Tightening of Total Debt Servicing Ratio Threshold (TDSR) from 60% to 55%
Reduced Loan-to-Value (LTV) Limit for HDB-granted loans from 90% to 85%

👉 Kindly refer to the Ministry of National Development Singapore and the Inland Revenue Authority of Singapore (IRAS) for more information.

Disclaimer: The content above is provided by the person or company mentioned. The information or service is not provided by or related to Manulife Financial Advisers Pte. Ltd.

🎉 We are extremely excited and immensely proud to announce that we are the first branch to break the 30 MILLION APE mark in Manulife Financial Advisers history. 💯

This glory would never have been possible without the hard work of the entire branch. We take pride in what we do but most of all, we endeavour to always offer the very best to our clients.

Despite the challenges, we appreciate our client’s constant support and unwavering confidence in us. ‍‍‍‍‍‍ ‍Thank you and we look forward to being your better companion throughout the years ahead!

Are you aware of the changes to CPF rules?

In proposed changes to the Central Provident Fund Act discussed in Parliament on 1st Nov 2021, many rules surrounding the CPF will be streamlined to give people better
access to their retirement payouts and nest eggs.

These are the changes that you need to know:

1) Continuation of retirement payouts from Ordinary and Special accounts
2) Higher CPF LIFE payouts following inflows to Retirement Account
3) Transfer of Ordinary and Special accounts savings to Retirement Account at payout start age
4) Givers to benefit from tax relief from top-ups to loved ones’ MediSave
5) Tax relief of up to $8,000 a year for top-ups to self and loved ones respectively
6) Simplification of top-ups to MediSave
7) Beneficiaries to receive CPF monies faster and with greater ease
8) Recovery of Government grants from members
9) Increase in CPF contribution rates for employees aged above 55 to 70.

Start incorporating CPF into your financial planning today! Kindly refer to the CPF website for more information.

Feel free to contact us and we will be happy to share with you tips on retirement.

Disclaimer: The content above is provided by the person or company mentioned. The information or service is not provided by or related to Manulife Financial Advisers Pte. Ltd.