Implementing Your Financial Plan
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Implementing your Financial Plan involves developing a Savings Plan, Insurance Plan and Investment Plan. In this course, we will look more in detail at Insurance Planning and Investment planning in order to reach our financial goals.
Under insurance planning, Life and Health insurance are covered. This includes a comparison between difference insurance products.
Under investment planning, various concepts such as risk/return trade off, investment horizon, diversification and asset allocation are considered.
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|Section 1: Introduction|
This video introduces the process of implementing your financial plan. Good financial planning involves three types of planning - Savings, Insurance and Investment. Developing a savings plan is briefly explained in this video.
The next lecture contains notes related to this video.
This e-learning course has video content in both Mashup and narrated slides form.
|In this lecture, find out more about the MoneySENSE core financial capabilities:
This lecture is a written introduction of this module. It covers the importance and steps in developing a good Savings Plan.
It is important to list down all your assets and liabilities and to be as detailed as possible.
You should assess your financial situation carefully before implementing your financial plans.
|Section 2: Savings Planning|
|In this video, Felicia goes through the three main types of financial plans that you need, namely a Savings Plan, Insurance Plan and Investment Plan. She goes through briefly how a Savings Plan is created.|
|In this video, we discuss how much money we need to save in order to reach a financial goal of $500,000 in 10 years time. Please download the Savings spreadsheet to calculate how much money you need to save in order to reach your own financial goal.|
This lecture is an Excel spreadsheet demonstration on how you can develop a monthly spending plan. This spreadsheet can be downloaded from http://finlit.sg/spreadsheets/spending-plan-spreadsheet/
You can also the sample spending plan used in this example under the supplementary materials.
|Section 3: Insurance Planning|
In this Mashup, Felicia explains about insurance planning. A comparison is made between difference insurance products. Also, various factors to determine one's insurance needs are considered. You may download the slides under the supplementary materials.
Please note that at around 5 mins 25 sec, the inflation rate of about 4% for a child's education was mentioned. The source of this data was obtained from the National University of Singapore (NUS) website.
This lecture provides notes on insurance planning, in particular Life and Health insurance. There is a useful table for comparing the various types of insurance.
This lecture provides notes on the steps required in order to assess your insurance needs. The important question to ask ourselves is how much money is required for our loved ones should some unfortunate event happen to us. Also, a list of factors can be found to help us determine the types and amounts of insurance that we need.
This lecture also contains strategies to select the right types of insurance.
|Section 4: Investment Planning|
|Ferris explains about Investment Planning. What are the key considerations you should take note of before investing? Watch this Mashup to find out.|
|Watch this lively presentation about Monitoring Your Financial Plan. This video was taken from one of our live seminars.|
|Section 5: Conclusion|
|This video details the importance of monitoring and reviewing your financial plan.|
|In this video, Ferris explains what factors you should carefully consider before engaging a financial advisor.|
|This video shows factors to consider when engaging a financial advisor and also concludes this e-learning module.|
|Quiz 1||4 questions|
Test your knowledge on Implementing Your Financial Plan.
|This lecture contains links to additional resources where you can learn more about money matters pertaining specially to Singaporeans.|
BA (Hons) Business and Finance
Ferris Wee is a qualified Financial Planner, and through his previous workplace, a global financial services company, he has helped more than one hundred clients with his clear process in reviewing their financial needs. Specifically, he has helped clients to identify their goals and ensure that they make the right choices to meet those goals today, tomorrow and in the years to come.
Ferris is passionate about leading people beyond financial breakthroughs, and has conducted financial literacy training in Singapore and Indonesia, as well as sports camp training for youths in India. Ferris is also an experienced financial counselor, helping many people manage their budget to meet their financial responsibilities.
Ferris is a Certified Will Writer, and has provided Professional Will writing, estate planning and custody services. He is also an Associate Estate Planning Practitioner.
Prior to his career in financial planning, Ferris was with the Republic of Singapore Air Force working on budgeting, logistics, maintenance and overseeing safety issues. For his strong leadership qualities, Ferris received the Outstanding Safety Warrior Award.
Ferris has a BA (2nd Class Upper Honours) specializing in Business and Finance. He also holds industry certifications in M5, M8, M8A, M9, M9A, HI, BCP and PGI.
The MoneySENSE-Singapore Polytechnic Institute for Financial Literacy is a collaboration between MoneySENSE, the national financial education programme in Singapore and Singapore Polytechnic.
MoneySENSE is spearheaded by the public-sector Financial Education Steering Committee which comprises representatives from the Ministry of Health, Ministry of Social and Family Development, Ministry of Education, Ministry of Manpower, Central Provident Fund Board, Monetary Authority of Singapore, National Library Board and People’s Association.
Our financial education courses cover basic money management, financial planning and investment know-how.