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The Karen Tang Money Podcast

The Karen Tang Money Podcast

By Karen Tang
Hi, I’m Karen Tang and I’m the founder of karentang.sg. My mission is to help educate people just like you on your personal financial planning. I help you make smart choices and save you from making avoidable money mistakes.
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Is the Supplementary Retirement Scheme Worth Your While ?
The SRS is a voluntary saving scheme to encourage individuals to save for retirement. Income tax savings is the biggest appeal of the SRS account for Singaporeans, PRs, and foreigners. Every dollar you put in your SRS account is tax-deductible, up to the contribution cap. Furthermore, you can invest your SRS money in various SRS-approved instruments. However, there are 3 things to consider before you make that SRS contribution: 1. The amount of tax savings - Do your math to determine if the contribution will get you to a lower tax bracket. 2. Liquidity - Balance your liquidity versus the amount of tax savings. Be mindful that you will be locking in the money till the statutory retirement age. 3. Emergency fund - Have you set aside your emergency fund? It should be at least 6 months' worth of your expenses. Are you on track in your retirement planning?  Have you addressed all the potential blind spots? If you're not sure and wish to have a comprehensive review of your retirement plan, call me today at +65 62528500!  Do share the video and subscribe to my channel if you feel it has empowered you. Kindly take a moment to leave a review below. If there is any query or topic that you would like me to answer or cover, do tell me about that in the comment section below. If you wish to work with me to develop your financial security plan, call me now on +65 6252 8500 to schedule an appointment.  Listen to Karen Tang Money Podcast on:-  Spotify: https://spoti.fi/3nRODKi  iTunes: https://apple.co/3rFj4ps  Google Play: https://bit.ly/37NQWbM  Other Platforms: https://anchor.fm/ karentang Connect With Me:-  Website: https://karentang.sg/  Linkedin: https://www.linkedin.com/in/karencfp/...  Instagram: https://www.instagram.com/karentangsg/  Facebook: https://www.facebook.com/karentangsg  Twitter: https://twitter.com/karentangsg  Mail: karen@karentang.sg  #KarenTang #financialplannersingapore #criticalillnessinsurance #lifeinsurancesingapore #insuranceplanning Cfp,Asian perspectives,Asian news,narrated,current affairs,Money Mind,money,investment,bond,stocks,equities,business,insurance,retirement,insurance plans for retirement,CI insurance plan,life insurance,medishield,eldershield RETIREMENT PLANNING MISTAKES,1379 PER MONTH IS NOT ENOUGH FOR RETIREMENT,how much needed for retirement,how much money is needed for retirement,retirement planning singapore,retirement planning,retirement,biggest retirement planning mistakes,retirement in singapore,how much to save for retirement,fire movement singapore,fire movement,financial freedom singapore,financial freedom supplementary retirement scheme (srs),supplementary retirement scheme dbs,supplementary retirement scheme ocbc,supplementary retirement scheme cpf,supplementary retirement scheme withdrawal,supplementary retirement scheme account,supplementary retirement scheme interest rate,supplementary retirement scheme relief,the supplementary retirement scheme,a supplementary pension scheme,supplementary retirement scheme eligibility,supplementary retirement scheme singapore foreigners,supplementary retirement scheme guide,supplementary retirement scheme investment,supplementary retirement scheme singapore interest rate,income tax (supplementary retirement scheme) regulations 2003,supplementary pension scheme luxembourg,supplementary pension scheme of,supplementary retirement scheme review,supplementary retirement scheme regulations,supplementary retirement scheme singapore 
13:50
December 16, 2021
12 Retirement Planning Mistakes You Should Avoid
When it comes to retirement planning, the earlier you start, the easier it is. Starting early gives your money more time to reap the rewards of compounding growth. The best time to start planning for your retirement is when you join the workforce. The next best time is now, if you haven't done so already. 12 Retirement Planning Mistakes You Should Avoid: #1: No Plan in Place #2: Saving Too little #3: Don't Start Saving Early Enough #4: Relying Solely On Central Provident Fund (CPF) #5: Underestimating Health Care Costs #6: Underestimating Life Expectancy #7: No Debt Repayment Plan #8: Overestimating Your Ability To Work During Retirement #9: Investing Too Aggressively – Or Not Aggressively Enough #10: No Drawdown Strategy In Place For Your Retirement Savings and Investments #11: Underestimate the Effects of Inflation #12: Not Reviewing Your Retirement Plan Regularly
06:20
November 08, 2021
Secure A Comfortable Retirement By Avoiding These 12 Mistakes - Part 6
When it comes to retirement planning, the earlier you start, the easier it is. Starting early gives your money more time to reap the rewards of compounding growth. The best time to start planning for your retirement is when you join the workforce. The next best time is now, if you haven't done so already. Retirement Planning Mistake #11: Underestimate the Effects of Inflation Retirement Planning Mistake #12: Not Reviewing Your Retirement Plan Regularly If you do not know where to start, what steps to take to close your retirement funding gap, contact me today! This is the sixth and final sharing in this series of videos. Stay tuned to learn more about other important aspects of your financial planning.
08:07
September 29, 2021
Secure A Comfortable Retirement By Avoiding These 12 Mistakes - Part 5
When it comes to retirement planning, the earlier you start, the easier it is. Starting early gives your money more time to reap the rewards of compounding growth. The best time to start planning for your retirement is when you join the workforce. The next best time is now, if you haven't done so already. Retirement Planning Mistake #9: Investing Too Aggressively – Or Not Aggressively Enough Retirement Planning Mistake #10: No Drawdown Strategy In Place For Your Retirement Savings and Investments This is the fifth sharing in a series of 6 videos. Stay tuned to learn more! If you do not know where to start, what steps to take to close your retirement funding gap, contact me today!
09:00
August 31, 2021
Secure A Comfortable Retirement By Avoiding These 12 Mistakes - Part 4
When it comes to retirement planning, the earlier you start, the easier it is. Starting early gives your money more time to reap the rewards of compounding growth. The best time to start planning for your retirement is when you join the workforce. The next best time is now, if you haven't done so already.  Retirement Planning Mistake #7: No Debt Repayment Plan Retirement Planning Mistake #8: Overestimating Your Ability To Work During Retirement This is the fourth sharing in a series of 6 videos. Stay tuned to learn more! If you do not know where to start, what steps to take to close your retirement funding gap, contact me today!  Do share the video and subscribe to my channel if you feel it has empowered you. Also kindly take a moment to leave a review below.  If there is any query or topic that you would like me to answer or cover, do tell me about that in the comment section below. If you wish to work with me to develop your financial security plan, call me now on +65 6252 8500 to schedule an appointment. Listen to Karen Tang Money Podcast on:-  Spotify: https://spoti.fi/3nRODKi iTunes: https://apple.co/3rFj4ps Google Play: https://bit.ly/37NQWbM Other Platforms: https://anchor.fm/karentang Connect With Me:-  Website: https://karentang.sg/ Linkedin: https://www.linkedin.com/in/karencfp/... Instagram: https://www.instagram.com/karentangsg/ Facebook: https://www.facebook.com/karentangsg Twitter: https://twitter.com/karentangsg Mail: karen@karentang.sg Do note: Any financial or investment information in this podcast/video is for use in Singapore only and is intended to be for your general information. Any particular investment or decision should only be made after consulting with a fully qualified financial adviser. See www.karentang.sg/privacy-policy/ for privacy information. #Retirementplanning #financialplannersingapore #financialmistakes
11:02
July 29, 2021
Secure A Comfortable Retirement By Avoiding These 12 Mistakes - Part 3
When it comes to retirement planning, the earlier you start, the easier it is. Starting early gives your money more time to reap the rewards of compounding growth. The best time to start planning for your retirement is when you join the workforce. The next best time is now, if you haven't done so already. Retirement Planning Mistake #5: Underestimating Health Care Costs Retirement Planning Mistake #6: Underestimating Life Expectancy This is the third sharing in a series of 6 videos. Stay tuned to learn more! If you do not know where to start, what steps to take to close your retirement funding gap, contact me today! If you wish to work with me to develop your financial security plan, call me now on +65 6252 8500 to schedule an appointment. Connect With Me:- Website: https://karentang.sg/ Youtube: https://bit.ly/2MaXvwG Linkedin: https://www.linkedin.com/in/karencfp/?originalSubdomain=sg Instagram: https://www.instagram.com/karentangsg/ Facebook: https://www.facebook.com/karentangsg Twitter: https://twitter.com/karentangsg Mail: karen@karentang.sg Do note: Any financial or investment information in this podcast/video is for use in Singapore only and is intended to be for your general information. Any particular investment or decision should only be made after consulting with a fully qualified financial adviser. See www.karentang.sg/privacy-policy/ for privacy information.
09:17
June 29, 2021
Secure A Comfortable Retirement By Avoiding These 12 Mistakes - Part 2
When it comes to retirement planning, the earlier you start, the easier it is. Starting early gives your money more time to reap the rewards of compounding growth. The best time to start planning for your retirement is when you join the workforce. The next best time is now if you haven't done so already. Retirement Planning Mistake #3: Don't Start Saving Early Enough Retirement Planning Mistake #4: Relying Solely On Central Provident Fund (CPF) This is the second sharing in a series of 6 videos. Stay tuned to learn more! If you do not know where to start, what steps to take to close your retirement funding gap, contact me today! Do share and subscribe to the podcast if you feel it has empowered you. Also, kindly take a moment to leave a review below. Feel free to share with me the key lessons that you have learned in your personal financial planning journey. If you wish to work with me to develop your financial security plan, call me now on +65 6252 8500 to schedule an appointment. Connect With Me:- Website: https://karentang.sg/ Youtube: https://bit.ly/2MaXvwG Linkedin: https://www.linkedin.com/in/karencfp/?originalSubdomain=sg Instagram: https://www.instagram.com/karentangsg/ Facebook: https://www.facebook.com/karentangsg Twitter: https://twitter.com/karentangsg Mail: karen@karentang.sg Do note: Any financial or investment information in this podcast/video is for use in Singapore only and is intended to be for your general information. Any particular investment or decision should only be made after consulting with a fully qualified financial adviser. See www.karentang.sg/privacy-policy/ for privacy information.
09:31
May 31, 2021
Secure A Comfortable Retirement By Avoiding These 12 Mistakes - Part 1
Do share and subscribe to the podcast if you feel it has empowered you. Also, kindly take a moment to leave a review below. Feel free to share with me the key lessons that you have learned in your personal financial planning journey. If you wish to work with me to develop your financial security plan, call me now on +65 6252 8500 to schedule an appointment. Connect With Me:- Website: https://karentang.sg/ Youtube: https://bit.ly/2MaXvwG Linkedin: https://www.linkedin.com/in/karencfp/?originalSubdomain=sg Instagram: https://www.instagram.com/karentangsg/ Facebook: https://www.facebook.com/karentangsg Twitter: https://twitter.com/karentangsg Mail: karen@karentang.sg Do note: Any financial or investment information in this podcast/video is for use in Singapore only and is intended to be for your general information. Any particular investment or decision should only be made after consulting with a fully qualified financial adviser. See www.karentang.sg/privacy-policy/ for privacy information.
10:02
May 05, 2021
CNA938 MoneyMind Radio Interview, 9 March 2021 - Women and Financial Literacy
Financial literacy is the key to good money decisions. And good decisions are needed for financial stability and independence - which are crucial in Singapore. We are not a welfare state - we need to secure our own resources for our later years. Therefore, financial literacy is a must. Ladies, we need not be less financially literate than men! We should learn about money management, personal finance from various sources and speak with qualified financial planners who are willing to educate us on the financial planning process. In this radio interview, I will share with you some useful tips and ideas: 5 strategies to boost your money confidence and how you can take control of your financial situation Top 5 financial mistakes that women make Advice for women with regard to planning for their retirement Last but not the least, financial planning is like following a recipe. Think about how a recipe is a basic guideline that outlines the tools, ingredients, actions, and time necessary to achieve the desired end result. A financial plan is very much the same. With the guidance of an expert, you are one step closer to your goals. Do share and subscribe to the podcast if you feel it has empowered you. Also, kindly take a moment to leave a review below. Feel free to share with me the key lessons that you have learned in your personal financial planning journey. If you wish to work with me to develop your financial security plan, call me now on +65 6252 8500 to schedule an appointment. Connect With Me:- Website: https://karentang.sg/ Youtube: https://bit.ly/2MaXvwG Linkedin: https://www.linkedin.com/in/karencfp/?originalSubdomain=sg Instagram: https://www.instagram.com/karentangsg/ Facebook: https://www.facebook.com/karentangsg Twitter: https://twitter.com/karentangsg Mail: karen@karentang.sg Do note: Any financial or investment information in this podcast/video is for use in Singapore only and is intended to be for your general information. Any particular investment or decision should only be made after consulting with a fully qualified financial adviser. See www.karentang.sg/privacy-policy/ for privacy information.
17:16
April 01, 2021
Which Type of Insurance is Better for You - Term Life or Whole Life?
Some people say “buy term and invest the rest”. How true is this? To put it simply, term insurance is pure insurance, without any cash value whereas whole life insurance accumulates a cash value. Due to this, the term insurance premium per year is usually much lesser than whole life premiums for the same coverage amount. Some clients like this lower premium of term plans, but others see whole life plans as a way of having the discipline of setting aside some money to create an asset for their later years. A concern with term life policies is that it only covers you for a fixed number of years, typically ending by age 70. A key benefit of a whole life plan is that it is a permanent life insurance policy. It is meant to provide you with a lifetime of protection and premiums are fixed, with the exception of Critical Illness premiums. It does not expire after a specific number of years, and it cannot be canceled due to ill health. Besides this, the guaranteed cash value accumulated in whole life plans can also attract a non-guaranteed gain based on financial market performance. Some clients find this way of growing their money safer than investing it themselves. In summary, “buy term and invest the rest” is only for those who are savvy in managing their own investments WHILE accepting the risk of being uninsured in their retirement years. For the rest of us, whole life plans make a lot of sense. At the end of the day, your decision should be based on YOUR individual needs, preferences, and affordability. If you have not done a review of your financial plan in the past year, now is the perfect time to do so! Do share and subscribe to the podcast if you feel it has empowered you. Also, kindly take a moment to leave a review below. Feel free to share with me the key lessons that you have learned in your personal financial planning journey. If you wish to work with me to develop your financial security plan, call me now on +65 6252 8500 to schedule an appointment. Connect With Me:- Website: https://karentang.sg/ Youtube: https://bit.ly/2MaXvwG Linkedin: https://www.linkedin.com/in/karencfp/?originalSubdomain=sg Instagram: https://www.instagram.com/karentangsg/ Facebook: https://www.facebook.com/karentangsg Twitter: https://twitter.com/karentangsg Mail: karen@karentang.sg Do note: Any financial or investment information in this podcast/video is for use in Singapore only and is intended to be for your general information. Any particular investment or decision should only be made after consulting with a fully qualified financial adviser. See www.karentang.sg/privacy-policy/ for privacy information.
04:07
February 28, 2021
3 Compelling Reasons Why a Multi-pay Critical Illness Cover is Your Best Bet for Comprehensive Protection in Singapore
Dealing with a critical illness is not always a one-time event. Statistics show that: - Stage 3B breast cancer patients face a 70% to 90% chance of recurrence in 10 years. - 4 in 10 stroke patients will suffer another stroke within the next 10 years. - 8 out of 10 colorectal cancer patients who suffer a recurrence develop cancer that involves the liver. It is never easy coping with a recurrent life-threatening condition. It brings on yet another round of challenges - physically, emotionally, and financially. The good news is having a sound critical illness insurance plan(s) is half the battle won! A good multiple pays critical illness plan gives you financial security, allowing you to make multiple claims for different stages of critical illnesses - early, intermediate and severe - as well as specified re-diagnosed and recurrent critical illnesses. This is especially crucial for breadwinners or key contributors of the household, as it helps to replace any income loss when diagnosed with an illness. A competitive plan will also provide you with additional benefits for even greater protection and peace of mind. However, not all multiple pay critical illness plans are the same. If you wish to review your critical illness protection or are interested to learn how a multiple pay critical illness cover fits into your financial plan, call me today to set up an appointment. Do share and subscribe to the podcast if you feel it has empowered you. Also, kindly take a moment to leave a review below. Feel free to share with me the key lessons that you have learned in your personal financial planning journey. If you wish to work with me to develop your financial security plan, call me now on +65 6252 8500 to schedule an appointment. Connect With Me:- Website: https://karentang.sg/ Youtube: https://bit.ly/2MaXvwG Linkedin: https://www.linkedin.com/in/karencfp/?originalSubdomain=sg Instagram: https://www.instagram.com/karentangsg/ Facebook: https://www.facebook.com/karentangsg Twitter: https://twitter.com/karentangsg Mail: karen@karentang.sg Do note: Any financial or investment information in this podcast/video is for use in Singapore only and is intended to be for your general information. Any particular investment or decision should only be made after consulting with a fully qualified financial adviser. See www.karentang.sg/privacy-policy/ for privacy information.
07:36
January 30, 2021
How much of critical illness protection do I need?
In this episode, I will share with you how you can determine the amount of critical illness protection you need. The payout from critical illness (CI) insurance not only allows you to seek better medical care and treatment options, it also supports your ongoing and additional living expenses. A critical illness diagnosis will inevitably affect your ability to work, resulting in a loss of income. Hence, critical illness insurance also serves as your income replacement. It is vital that everyone has adequate critical illness protection. It is especially important when you are a breadwinner, a working professional with parents to support, and parents with young dependents. Having adequate protection means peace of mind as you focus on recuperating without worrying about money. So, how much of critical illness coverage do you need? Advances in medicine are increasing the survival rates of those diagnosed with major illnesses. This also means that treatment for certain illnesses may last for several years. A CI recovery period of up to 5 years can be expected before you can resume full-time employment. This means that you would need an estimated 3.9X of your annual income to have adequate protection (source: LIA Singapore). However, if affordability is not an issue, I would suggest that you get protection for up to 5X your income, taking into account inflation as well. Do share and subscribe to the podcast if you feel it has empowered you. Also, kindly take a moment to leave a review below. Feel free to share with me the key lessons that you have learned in your personal financial planning journey. If you wish to work with me to develop your financial security plan, call me now on +65 6252 8500 to schedule an appointment. Connect With Me:- Website: https://karentang.sg/ Youtube: https://bit.ly/2MaXvwG Linkedin: https://www.linkedin.com/in/karencfp/?originalSubdomain=sg Instagram: https://www.instagram.com/karentangsg/ Facebook: https://www.facebook.com/karentangsg Twitter: https://twitter.com/karentangsg Mail: karen@karentang.sg
03:52
December 03, 2020