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Many people dream of becoming a millionaire but it rarely happens overnight and often requires many years of building and maintaining healthy financial habits, along with making smart financial decisions.
Expats who are currently on a Dependant Pass (DP) with a Letter of Consent to work in Singapore yesterday received some rather unwelcome news that is still being digested. As part of their measures to support local employment in Singapore given the effects of Covid-19, the Ministry of Manpower (MOM) has announced that as of 1 May 2021, those who are working in Singapore on a DP with a Letter of Consent would need to apply for a work pass, such as an S Pass or an Employment Pass (EP).
Some think that to need or benefit from the advice of a financial planner you need to be among the uber rich with complex portfolios and assets. The reality is, that everyone no matter how much money they have in the bank have goals for the future, or fundamental financial needs along their journey. I have outlined 10 points a financial advisor can help with that EVERYBODY needs to consider.
This article outlines how to compare your investment returns to an appropriate index, so as to check whether you are getting the returns you “deserve” (based on your risk profile).
The Lifetime Allowance is a limit on the amount of pension benefits that can be drawn from pension schemes. It doesn’t make a difference whether it’s lump sums or retirement income. It can be paid without bringing about an additional tax charge.
Did you know that the United States could impose a 40% estate tax rate on U.S. assets above a $60,000 exemption threshold on assets of the deceased non-residents? Foreign estates become subject to U.S. estate taxation with respect to their U.S.-situated assets. This could apply to your company stock if it’s in a U.S. company, regardless of where the custodian may be situated. This week our Senior Financial Consultant, Deepak Singh, explores what this could mean for you as a Singapore resident, and what you can consider to mitigate your exposure to U.S. estate tax. What exactly is the U.S….
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