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(Video)Shocked that you cannot use your CPF for housing loan anymore? PDF Print E-mail
Tuesday, 25 March 2014

Many HDB owners struggle with their mortgage installments. They had initially thought they can use all their CPF for their installments. The good news is that you can solve this problem.

Most people assume all their CPF monthly contributions to their ordinary accounts can be used to service the monthly housing payment. But they don’t realise that there is a limit as to how much they can use despite having more than sufficient balances in their ordinary account. Check out this video to find out more.

Question on Investment Linked Policy charges (ILP charges) PDF Print E-mail
Tuesday, 15 April 2014

Question: Wilfred, my financial adviser sold me a product called X and he told me that the insurance charges are constant throughout my entire life. My premium is $1,200 a year. However, I read in the forum that such ILPs’ insurance charges increase with age. I am confused, can you advise me how much will I be paying when I am say at 80 years old? I am a male and non-smoker.


Why accredited investors are in for a raw deal PDF Print E-mail
Tuesday, 08 April 2014

Accredited investors in Singapore are high networth individuals.  Accredited investors are also at greater risk of being mislead compared to others.

Under the Securities and Futures Act, an accredited investor means:

Question on whether is Medishield Life applicable to me? PDF Print E-mail
Tuesday, 01 April 2014
medishield life

Question: Wilfred, there has been a lot of publicity with regard to Medishield Life. I am insured with NTUC Income Enhanced Incomeshield Preferred plan. Is Medishield Life still applicable to me?


Refused kidney dialysis because got no money PDF Print E-mail
Tuesday, 11 March 2014

I read from the newspaper in horror that Singapore has the fifth highest kidney failure rate in the world. What is even worse is that there are some kidney patients who refused treatment because they cannot afford to do so.

The article published on 24 February 2014 by Straits Times entitled “No support, so no dialysis” stated that Khoo Teck Puat Hospital had 24 patients suitable for dialysis declined the procedure in 2011. Two of them wanted treatment but families refused (perhaps due to financial?); 4 turned down because they did not want to burden their family and six rejected dialysis because it was too expensive. In other words, 12 or 50% turned down kidney dialysis likely due to financial reason.

Question on long-term investment not making money PDF Print E-mail
Tuesday, 04 March 2014

Question: Wilfred, I have been investing for many years already. I believe my approach is not speculative but through a proper asset allocation and buy-hold. However, I have been disappointed with my investments. I started in January 1999 after the Asia Financial Crisis which I believe was a good entry point because I was buying during the crisis. My portfolio did quite well within a few years only to suffered heavy losses due to the technology bubble. After the technology bubble burst, my portfolio appreciated by 100% for 5 years only to be decimated by the Global Financial Crisis in 2008 in which the market lost nearly 50%. As a result, I was down by -30% relative to where I started in 1999. I gave up and sold all my investments. As I looked back, I was horrified to discover that the market appreciated by another 100%. I have decided to buy property because everybody is making money through property.

72 years old man sue family for a problem occurred when he was 25 PDF Print E-mail
Tuesday, 18 February 2014

An individual sued his family members over a disputed property. Quek Hung Heong (QHH - the plaintiff) lays claim to the entire beneficial interest in the property in the lawsuit although the property was held under tenancy-in-common with the other 4 family members. The other 4 family members are his father, mother, an older brother and older sister. His father, mother and older brother have already died. His older sister did not contest.

Question on why cannot get $10,000 in HDB refund PDF Print E-mail
Tuesday, 11 February 2014

Question: Wilfred, when I bought a BTO unit with my husband in June 2010, our purchase price was $10,000 more than the ‘normal’ price. It seems it is because I am not a Singapore citizen. I became a Singapore citizen in June 2011 but HDB/CPF refuse to refund this extra $10,000 to us! What is this? HELP!!

The harm caused by regular premium Investment-Linked Policy benefit illustrations PDF Print E-mail
Thursday, 06 February 2014

With effect from 1 February 2014, benefit illustration for single premium ILP and recurrent single premium ILPs will no longer be provided. I support this move although I am disappointed that the status quo still applies for regular premium ILPs. First, what is a benefit illustration?

Question on why must pay extra $152K for BTO? PDF Print E-mail
Tuesday, 04 February 2014

Question: Wilfred, we decided to buy a new HDB either through BTO or Balance of Sales. I was shocked when I was told I must pay $152,000 in additional money over and above the purchase price. We were looking at a $350K BTO but I was told it will cost us $500K instead! To make it worse, we were told we can only borrow at most $200K. I don’t know what to do as we don’t have the money! HELP!!

3 and 6 years old children lost father in drowning accident in NUS PDF Print E-mail
Tuesday, 21 January 2014

In the news was a man who drown in NUS’ swimming pool. The incident happened in 2007 and the deceased left behind his wife and the young children aged 3 and 6. The deceased widow tried to sue for $1m but failed even after appealing. The written judgment for the appeal was dated 9 January 2014. It took 7 years for the widow and her family to come to a closure. It must have been so tiring.

Question on why CPF cannot be used for housing loan PDF Print E-mail
Tuesday, 14 January 2014

Question: Wilfred, I received a letter saying that in a few months, I cannot use CPF to pay for my housing loan. This means I have to pay cash. However, my CPF still has $13k in my Ordinary Account. What is going on? If I use cash, I will go into negative cash flow. HELP!!

The Tragic Liberalization of the CPF Investment Schemes PDF Print E-mail
Tuesday, 07 January 2014

This is a very brief history of the CPF Investment Scheme.

When the investment scheme was first introduced on 1 May 1986, it was known as the Approved Investment Scheme (AIS) which allowed CPF members to invest a portion of their CPF-OA above their minimum sum in stocks, unit trusts and gold.

In Oct 1993, the AIS was renamed Basic Investment Scheme (BIS) and the Enhanced Investment Scheme (EIS) was implemented. These schemes further increase the amount which CPF members can invest using their CPF. The instruments that can be invested were expanded to include SESDAQ, government bonds, bank deposits, fund management accounts and endowment policies. This liberalization saw a surge in CPF withdrawal.

Video on Investing in Africa PDF Print E-mail
Monday, 30 December 2013

Here are some facts about Africa:

  1. Africa consists of 54 sovereign states.
  2. Africa is the world's second-largest and second-most-populous.
  3. Africa is the youngest continent in terms of its population - 50 percent of Africans are 19 years old or younger.
  4. There are more than 20 stock exchanges in Africa.
  5. The top 5 countries in Africa ranked by GDP are: South Africa, Egypt, Nigeria, Algeria and Morocco.
  6. The top 5 countries in Africa ranked by GDP (PPP) per capital are: Equatorial Guinea, Seychelles, Seychelles, Mauritius and Libya.
  7. According to the Corruption Perceptions Index 2013, South Africa is less corrupt than China.
  8. The same index shows that Egypt is less corrupt than Indonesia.
  9. South Africa, Egypt, Nigeria, Morocco and Kenya make up around 90% of the market capitalisation, and 98% of average daily trade, of which South Africa represents almost 75%.
  10. The total stock market cap of Africa is US$1 trillion.
  11. Apple market capitalization is US$489.87 billion. Google market capitalization is US$362.89 billion. The combine market cap for Apple and Google is already more than 85% of the total market cap of Africa (consists of more than 20 stock exchanges).
Question on parents helping to pay for HDB flat PDF Print E-mail
Wednesday, 25 December 2013

Question: Wilfred, my girlfriend and I are 26 years old. We intend to buy a new flat. However, the prices are so expensive that we figured we need to save for quite a long time before we have enough to pay for the downpayment. Moreover, we do not wish to borrow to the maximum as we do not have the intention to remain in debt for so long. My parents are willing to help us by paying for part of the flat. They say, it is a good opportunity for them to indirectly invest in new HDB flat so as to take advantage of the subsidy. I think this is a good arrangement as it lightens our financial burden. Moreover, with the financial backing, we can aim for better location or even go for Executive Condominium. What is your opinion?

Returns of Stocks and Demographics PDF Print E-mail
Friday, 20 December 2013

Research has shown that there is a strong relationship between stocks & bonds returns and the demographics of countries. What is demography? For those who studied geography, demography is the statistical study of human population. A common way to view population is the population pyramid. For Singapore, the population pyramid looks like the following. As it can be seen, majority of the population are age 30 to 50 years old.

3 reasons US market is "chronically" overvalued PDF Print E-mail
Tuesday, 17 December 2013

After Professor Jeremy J Siegel recently spoke on why the Shiller's CAPE PE is flawed due to its problematic input data, others have begun writing to support the same view. In another article (not written by Prof Siegel), it provides 3 reasons why the S&P 500 is "chronically" overvalued. The three reasons cited were (1) inconsistent earnings calculation (the same reason cited by Siegel), (2) changes in the Dividend Payout Ratios and (3) the reduced probability of the "The Big Three" happening in the future.

(My comment: If S&P 500 is indeed 'chronically' overvalued, the implication is that the US markets may not be as overvalued as what everybody thinks. Right now, all fund managers and analysts are saying the US markets is overvalued and it will come crashing down. I find this unusual because usually a bear comes when everybody thinks it will go up.)

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Tragic Stories Due To Lack of Financial Planning

Refused kidney dialysis because got no money (11 March 2014)

72 years old man sue family for a problem occurred when he was 25 (18 Feb 2014)

3 and 6 years old children lost father in drowning accident in NUS (21 Jan 2014)

The Tragic Liberalization of the CPF Investment Schemes (7 Jan 2014)

4 young children lost both parents within 2 months and how the credit default swap can help (28 Feb 2013)

Dividend Yield Play turn out to be a disaster (as usual, nothing new under the sun) (17 June 2012)

Four child corpses found buried under bridge (9 Feb 2012)

Four mentally incapacitated adults found abused in dungeon (19 October 2011)

Patients’ Last Days in Ignorance (5 September 2011)

Husband died leaving spouse with no home, no money ; DIY video Will invalid (30 April 2011)

DIY estate planning became a big mess, ends up in High Court (7 March 2011)

86% intend to use whole life insurance for retirement? (8 February 2011)

Incurred $147,000 ‘C’ class ward bill without subsidy! (29 Jan 2011)

CPF Nomination fails, monies ends up with creditors although there was 10 years to fix it (14 Oct 2010)

Left nothing to legally married wife (21 August 2010)

Dementia patient’s S$48,000 fixed deposit gone (7 September 2010)

Lawyer was too busy, secretary prepared the Will but ends up in court (2 September 2010)

Become orphans after vacation (28 August 2010)

Crane killed sole breadwinner leaving behind 5 dependents (24 July 2010)

2-years old daughter becomes fatherless because of the falling tree (22 July 2010)

Parents are leaving monies to dogs instead of to their children (18 June 2010)

Man lost almost his entire property to siblings due to poor financial planning (20 May 2010)

Husband died one year after twins were born (30 March 2010)

Ex-dealer to pay up $1.3m (29 March 2010)

87 years old grandma kicked out of Bedok Reservoir flat by grandson (12 March 2010)

Dead man was asked to pay up income tax 18 years later (26 Feb 2010)

Gambler stole wife's jewellery and cleaned out her bank account twice to feed his gambling addiction(11 Feb 2010)

Parents further distraught by MediShield exclusion letter (2 Sept 2009)

She was worth all of it (21 July 2009)

An adviser who sold her soul (2 Oct 2008)

Invested in Oil scam on friend's advice (13 Sept 2008)

40 years of medisave saving wiped out when daughter got cancer (4 November 2007)

Sclerosis patient needs help with big medical bill (1 Dec 2006)

Undergrad suffers brain injury after monkeys cause crash (1 Oct 2006)

Man with bad headache rushed to hospital, was sent back home with painkillers, by evening falls into coma and is brain dead (2 July 2006)


Communication letters to clients
- 5 Aug 2009
- 22 July 2009