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Beginner’s Essential Guide To Unit Trusts

WHAT IS UNIT TRUST EXACTLY?

A Unit Trust follows an unincorporated mutual fund or trust structure that allows funds to hold assets and pass profits thru the individual owners. Money is pooled with the money from other investors and it is managed by a fund manager. The portfolio of assets is set according to the fund’s investment strategy and objective. Hence the success of a unit trust depends on the capabilities, expertise, and experience of the management company.

In Singapore, local and foreign unit trusts offered are regulated as collective investment schemes.

WHY MUST YOU INVEST ON UNIT TRUSTS?

Since funds are invested in an array of assets, one advantage of investing in unit trusts is diversification. In the current unpredictable market, this potency helps investors to adjust with the ups and downs without having to worry too much about the performance of a single stock. Generally, unit trusts provide you with more safety in terms of the performance of your investment.

WHAT SHALL YOU CONSIDER BEFORE AND AFTER INVESTING?

Before investing on unit trusts, you must assess the type offered as well as its fees. Also, you must examine the fund manager himself. Determine if the fund manager has the sufficient experience, skills, and resources to lead you to success. Look beyond the short-term performance and look into one’s long-term track record.

After investing on unit trusts, you must regularly monitor if its performance meet your expectations. Then monitor the economic and political risks of the markets you invested in.

WHAT IS ITS NET ASSET VALUE?

The price of each unit is based on the net asset value divided by the number of units outstanding. It is typically calculated daily to reflect changes in the prices of the investments maintained by the fund.

HOW CAN YOU BUY THE UNIT TRUSTS?

Aside from cash, you can purchase unit trusts by the CPF Investment Scheme (CPFIS) and the Supplementary Retirement Scheme (SRS). Furthermore, some insurance companies offer investment-linked insurance policies.

Image Credits: Ken Teegardin via Flickr (CC Licence Attribution-ShareAlike 2.0 Generic)

Sources: 1, 2, & 3

4 Amazing Ways To Save Big On Your Kid’s Birthday Party

1. START WITH THE INVITES

If your budget does not allow you to invite your child’s entire class, then you do not have to. Instead, you can opt for the “age plus one rule”. For instance, if you are planning to throw a party for your 5-year-old, then invite 6 guests. Keep the numbers down by making it clear that the guests’ siblings are not invited.

Aside from that, you can forgo printing services by sending out electronic invitations through Facebook or Email. This works just as fine!

2. SAVE ON THE VENUE

If your home does not have enough space, parties can be hosted at the local park or playground.

For a playground venue that kids will surely love, go to Tiong Bahru Adventure Playground. Tiong Bahru Adventure Playground’s center has a train-themed structure that is perfect for your boy’s Thomas the Tank party. There is also a little maze and a merry-go-round.

For a park venue, consider having it at East Coast Park as its wide open spaces is suitable for energetic party games and active guests. While parks are generally free, if you are planning an organized party, some parks do require permission to be given ahead of time.

3. D-I-Y YOUR PARTY BAGS

A children’s party will not be complete without the party goodie or loot bag. Assemble your own loot bag by purchasing S$2 brown or white paper bags from Daiso and decorating it with colored markers. Put a multitude of sweets and stickers that are also available at Daiso, for the same price.

4. TRY THESE PARTY THEMES

There are two exciting yet affordable party themes that you must try, namely: Circle Party and Indoor Games Party. The circle party is ideal for children aged 2-4. You start by decorating the place with all things circle such as balls, balloons, polka dots, and candies. Then, keep the activities simple such as running while forming a circle.

For children beyond age 5, you can entertain them with a party that is filled with board games, cards, and puzzles.

Image Credits: pixabay.com (CC0 Public Domain)

If you need to purchase a board game, you may check out Toys “R” Us. Toys “R” Us provides huge selection of toys and infant products that are priced to give you value for you money. Round up the guests and play the Disney Assorted Inlay Wood Puzzles (S$9.95), UNO® Disney Frozen Cards (S$11.90), or the Pavilion Giant Snakes & Ladders (S$19.95)!

Sources: 1, 2, & 3

Basic Guide To Estate Planning In Singapore

Estate planning advice often focuses on the creation of legal documents such as wills and trusts. The choices you make about where your assets will go after you pass can affect people’s lives profoundly. This is why you must familiarize yourself about the basics of estate planning.

DEFINITION

In simpler terms, estate planning dictates how you would like to distribute your estate after your death. Your estate encompasses your properties, savings, and money. It makes sure that the people you love and the causes you care about are covered even after the inevitable event of death.

TRUSTS

As said above, estate planning primarily includes the creation of a will by appointing an executor. For individuals with higher net-worth, they may choose to create a trust in order to transfer their assets to pre-determined beneficiaries. Singapore is a prime financial hub for individuals with higher net-worth to set up their trusts. It is because the country is characterized by:

a business promoting environment,
a comprehensive legal system,
a globally competitive infrastructures,
a strategic geographic location, and
a robust set of regulations for the financial sector.

As trusts are used as a long-term tool, you must closely evaluate the pros and cons before setting one up. For instance, trusts are a viable option for vulnerable beneficiaries such as minors. However they can be costly and difficult to maintain.

TERMS

Here are the common estate planning terms that may boggle your mind at first:

Alternate Beneficiary is an individual or an organization named to receive the assets in the unlikely event that the primary beneficiaries die.
Co-Trustees are two or more people who had been named to coordinate in managing a trust’s assets.
Durable Power Of Attorney For Asset Management is a legal document that bestows a person full or limited legal authority to sign your name on your behalf in your absence. Its validity ends at death.
Gross Estate refers to the value of an estate before the debts are paid.
Will is a written document that includes the instructions for allocation of assets after one’s death.
Image Credits: pixabay.com (CC0 Public Domain)

Sources: 1, 2, 3, & 4

You Need To Answer These 6 Essential Money Questions Before Getting Married

1. HOW DO YOU SPEND?

Your future spouse’s spending habits is one of the most important things that you must uncover. Whether you are a saver or a spender, your spending habits can influence the growth of your wealth. Discuss your this matter while keeping an open mind. Then, brainstorm on how you can blend your distinct spending habits in order to manage your wealth as a couple.

2. ARE YOU SPENDING A LOT FOR YOUR WEDDING?

Some people dream of lavish wedding ceremonies while otherS prefer simple gathering. As a unified couple, plan how much you are willing to spend on your wedding day.

If you want to save money, schedule your big day during off-peak months. Usually, getting married in “off-peak” months such as November, March, and April can be less expensive than marrying in “peak” months such as December and February. Save even more money by scheduling your honeymoon when the hotels and resorts are off-season.

3. DO YOU WANT TO HAVE A PRENUPTIAL AGREEMENT?

Even if we live in the most expensive city in the world where finances shall be carefully planned, do not assume that your fiancé is comfortable with pushing through a prenup. A prenup may suggest lack of trust in one party as you are planning for unforeseen divorce. Aside from this, talking about monetary and property division can make the marriage sound more like a business matter. Truly, this is a sensitive subject matter that should be handled with care, love, and honesty.

4. DO YOU HAVE EXISTING DEBTS?

To prevent unforeseen monetary issues, understand each other’s view by explicitly discussing your differences on financial issues. For honesty’s sake, show a copy of each other’s credit report. Know what your debt and income are actually worth so that you can realistically plan on how to pay for the remaining debt. Your partner’s lack of credit history will reflect on your credit score if you combine accounts.

5. SHALL YOU OPEN A JOINT ACCOUNT?

There are undeniably advantages and disadvantages to opening a joint account but it all comes down to your spending habits. Discuss whether you want to open a joint account solely because of the household bills or your emergency fund. Having a separate bank account is acceptable but, you have to tell your spouse about it.

6. HOW WILL YOU PAY THE BILLS?

Do not assume that your future husband has got all the bills covered for you. Instead, you must openly discuss how you will split the bills. If you come from a multiracial background, it is better to understand money with respect to each one’s culture.

Image Credits: pixabay.com (CC0 Public Domain)

Keep in mind that your goals are the same – to efficiently spend and save as a couple. As a team you may utilize your partner’s credit card to make use of the grocery rebates while the other takes care of the grocery shopping itself.

Sources: 1 & 2

Places To Find The Cheapest Gym Memberships In Singapore

Singapore is no stranger to expensive fitness center costs! And let us face it, most of you will not even use your membership perks to its fullest! With gym membership fees shooting up to S$2000 per year, one may wonder where the best rates are.

Fortunately for you, this list has you covered!

1. GYMM BOXX

GYMM BOXX is every gym-junkie’s dream as it has a wide array of premium equipment, a helpful staff, and a clean environment. What makes this place stand out is its “popular gym chain” facilities at affordable membership rates.

The standard membership rates are as follows:

a. Senior Membership ranges from S$90-240
b. Youth Membership ranges from S$120-360
c. Standard Membership ranges from S$150-480

If you do not want to commit just yet, you can pay per every entry for as low as S$3!

2. ACTIVESG GYM

Known for offering individuals and communities with various lifestyle opportunities, ActiveSG promotes better living through sport. It is only necessary that they include gymnasiums to their repertoire. If you are able to wait for your turn and workout with the basic equipments then, this place is suitable for you.

Here are the rates of the MyActiveGYM scheme:

a. Adults (Off-Peak) S$15/month
b. Adults (Peak) S$30/month
c. Seniors and Students (Off-Peak) S$9/month
d. Seniors and Students (Peak) S$18/month

As an ActiveSG member under the MyActiveGYM scheme, you will be able to get unlimited gym access to all the ActiveGYM outlets islandwide.

3. YOUR WORKPLACE

If you are serious about getting in shape, consider looking for an employer or a company that offers gym memberships. For example, Siemens has their own gym at the Siemens Centre Singapore. It is adjacent to a lounge where employees can read newspapers or magazines and listen to relaxing music.

Image Credits: pixabay.com (CC0 Public Domain)

Nothing beats a workout that is FREE and is situated at your own convenience!

Sources: 1, 2, & 3

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