Financial Planning Made Easier For You!
Many Singaporeans are delaying retirement and putting off investing for their later years. They think it’s too early to start planning ahead when retirement seems far away. However, with the high cost of living and possibility of long-term inflation, one can’t afford to put off planning for the golden years. Having a plan in advance can save both time and money, but ignoring it can be a costly mistake.
As you can see, cancer is the top cause of death in Singapore, accounting for 28.4% of all deaths. In addition to other health issues, they make up for the majority of cases.
Most of us focus on the employee perks and paid leave when we’re just starting out in our careers. In spite of this, we neglect to take a closer look at the most important benefit—company insurance. Also known as group employee insurance, it is typically included in your employee benefits and provides coverage to assist you manage medical expenses.
We all have dreams for retirement—our own little piece of heaven where we can finally relax and spend the time doing whatever we want. But if you think about it, retirement is just another pace of life that demands more responsibility with your money to make sure it lasts for the rest of your life. And like a job, it’s not something you can just wake up one day and live as you like; there are steps you need to take in order to make sure that your hard-earned cash lasts as you get older.
In Singapore, a progressive tax system is applied. This means that the more you earn, the more tax you pay.
Personal income tax is a tax levied on the income of individuals. The amount paid depends on the amount of money one makes in the previous year and is usually divided into tax brackets, so that those making more pay progressively higher rates.
Paying taxes is not fun and sometimes could be very stressful. We all want to keep as much of the money we make as possible, and fortunately, there are still some ways we can do to reduce our personal income tax.