The saying goes, there is nothing certain in life but death and taxes. Every year, we get a letter thanking us for our contribution to nation building. While I think paying taxes is an important part to the entire fiscal system, proper tax planning allows us to not pay more taxes than what is legally necessary. In this article, I highlight 3 simple things you can do to reduce your tax obligations while achieving other objectives such as retirement planning.
The Central Provident Fund (CPF) is a government scheme initiated to help members prepare for their retirement. Over the years, many initiatives have been introduced to enable people greater flexibility in deciding how funds in their CPF accounts are used. There are 3 accounts in the CPF, namely the Ordinary, Special and Medisave accounts. In this article, I put together the top 5 hacks you can do to ensure your CPF is well utilised.
I speak to clients on a daily basis regarding management of their wealth. One common trend I observe is many people aspire to reach financial freedom at some point in their lives, but most are clueless how to get there. Financial freedom is the point in your life when your work becomes an option rather than a means of survival. In this article, I outline some broad strategies on how you can get started along this journey towards financial freedom.