2020 has been a unpredictable year. COVID-19 has disrupted the world in a unprecedented way, and changed the way we work, learn, and interact.
The Travel, Hotel, Tourism, and F&B industry are badly impacted by the travel restrictions, and social distancing measures taken to curb the spread of the coronavirus. As a result, many traditional brick-and-mortar businesses have started selling their products and services on the internet, as more people are turning to online-shopping.
On the bright side, it has also encouraged the government and Singapore companies to adopt new ideas, such as home-from-work and e-learning. While quarantine and social distancing was difficult, it also made people value their relationships.
Singapore will begin its Covid-19 vaccination exercise on Dec 30, with healthcare workers at the National Centre for Infectious Diseases (NCID) the first to receive doses. As the World and Singapore look forward to recovery in 2021, we should not neglect our personal financial planning.
While it is essential to make money, you must also know how to manage it to achieve your financial and life goals! The reward of good money management is an improvement in one’s standard of living and lifestyle.
The first step is to identify your financial goals and align your financial resources with them, by following recommendations of carefully developed plans.
These goals may include purchasing a car or house, securing a stable income during retirement, saving for the children’s education, etc. There are multiple methods these goals can be achieved. Financial planning can help you identify the suitable financial vehicles you can utilize to achieve your financial objectives. In short, financial planning bridges the gap between “where I am now” and “where I want to be” financially.
If you need professional advice on Financial Planning, contact your FLA Organization Financial Planner today!
