The Oak Vision

It is true Group Insurance provided by your employer can offer decent coverages. However, one should take note that it exists only if an individual is employed by companies that offers such benefits.

The following should be considered when doing your planning:

1) If the employee decides to leave the company, they will no longer be covered.

2) If the employee were to be covered by their new employer, the benefits might potentially differ.

3) Assuming employee decides to get personal insurance, any pre-existing medical conditions will be taken into consideration and might be challenging during the application process.

If you have any questions regarding insurance planning, do feel free to drop us a DM😌📫

“Always save money for rainy days” is something our parents tell us.

Do you actually know what it means?
Swipe left to find out more ➡️

Received Angbao? Now what?
Here are some ways you can utilise your angbao money🍊🧧

Having a longer time horizon is always an advantage when it comes to investing. Here are three examples of how time can affect your investment value ⏳

We are back with a quick and brief introduction to investing. If you are new or looking to start your investment journey, always remember to do your due diligence

When in doubt, speak to your trusted financial planner or you can drop us a DM📩

A brief explanation on endowment policies and what people use it for.

Depending on the individual’s objective, endowment policies could play an important role in achieving that goal. We have listed down three scenarios on how endowment policies can be helpful.

Do drop us a DM or comment down below if you will like to find out more! ✉️

The Central Provident Fund(CPF) plays a major role in helping Singaporeans fund their retirement, housing and healthcare.

A portion of our monthly salary will be set aside into 3 different CPF account. They are the Ordinary Account(OA), Special Account(SA) and Medisave Account(MA).

We have summarised the use of each account in this post and we hope that it will help you better understand the uses of our CPF accounts.

Feel free to drop us a DM if you have any questions regarding your CPF!😌

The Oak Vision would like to wish all Mothers a very Happy Mother’s Day on this special occasion!

Thank you for being the unseen hero and contributing your unwavering love to the family 🤍

Since young, we have always been told by our parents to save for rainy days. With the rising cost of living and inflation, here are some ways for you to make your money work harder for you.

With the first one being mandatory for all Singaporeans and Singaporean Permanent Residents, we have with us the Central Provident Fund(CPF). 20% of your salary will be used to contribute to your CPF. It will then be distributed between your Ordinary Account, Special Account and Medisave.

Secondly, we have Insurance endowment policies. There are many different types of endowment policies in the market for different goals and they play a huge role in your wealth accumulation portfolio by being the safety net.

Last but not least, we have different investment instruments. Different people invest into different instruments depending on their risk appetite and preference. There is no right or wrong when it comes to what instrument you should invest in.

If you have any questions for us, feel free to drop us a DM👍🏻😌

MediShield life is a basic health insurance plan that is compulsory for all Singaporeans and Permanent residents.

From 1 March 2021, there has been an enhancement in benefits for MediShield life. With healthcare cost rising, we need to better prepare ourselves for large out-of-pocket healthcare bills. If you’re unsure and want find out more, do feel free to drop us a DM!

For more details regarding the enhancement, click on the link in the bio.

Are there times when you overspent and you are unsure of how you spent your money? Here are three effective ways we feel can help you better manage your expenses!

1 - Use a mobile app to track your daily expenses. This is one method which is effective and convenient at the same time! For example, you can simply key in your purchase while waiting for your bubble tea. Knowing how much you spend daily can improve your spending habits by cutting away unnecessary costs.

2 - Using Excel to track/set your monthly expenditure. You can set your monthly budget at the beginning of the month to have a budget to follow or you can collate your monthly expenses at the end of the month to know how much you’ve spent for the entire month.

3 - As the saying goes ‘do not put all your eggs in one basket’. This applies to how you should allocate your money. It is recommended to have an account purely for salary crediting, one for spending and another for your emergency funds. When your salary is credited into your bank account, take a portion of it and transfer it to your emergency funds account. Next, set aside another portion into your spending account for your monthly expenses.

If you find this helpful, do like and share this post👍🏻😌

The 50-30-20 rule of thumb for budgeting is simple and also one the most effective method practiced. It is broken down into the following categories.

50% to Essential - Spendings that are considered necessary for survival.
30% to Wants - Things that you want but can live without.
20% to Savings - Savings and investment for short, medium and long term goals.

This rule is a general guide for budgeting. However, I do believe that we are all at our different life stages, have different goals and commitment. Therefore, the allocation may vary from person to person.

As the saying goes, all roads lead to Rome. If you have just started your career and do not know how to budget your monthly income or you do not have a budgeting strategy, you can always fall back on this 50-30-20 rule of budgeting.

Follow us for more financial content coming your way! 👍🏻😌

Coming from the Financial Planning Industry, it is agreeable that it can be a little complicated at times when it comes to financial planning, investments and general finance.

The Oak Vision aims to keep it simple for people from all walks of life.

Est. 2021

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Welcome to The Oak Vision where we talk about financial planning, investments and finance in general.

The contents posted here are based on personal experiences, research and studies. I truly believe that the contents will be able to make a positive impact to you or even the people around you.

If you have any questions you would like to address regarding financial planning, investments or just finance in general, do feel free to email us or drop us a DM! ✉️