Friday 1 March 2013

Know The Various Benefits Of CPF Investment

By Maicel Ryan


Employees in Singapore today are luckier than those who retired from their jobs about six decades ago, as the Central Provident Fund system was not yet implemented back then. The retirement savings scheme established by the Singaporean government for people working within the country aims to set aside some amount from the employees' salaries which they can use in the future.

Before the aim of the CPF was simply to set aside money for retirement, but this purpose has developed through time. Now the CPF scheme has four major functions: Retirement, Healthcare, Home Ownership, Family Protection and Asset Enhancement. These new functions allow employees to have different options in terms of saving and planning for their future.

Invest Your CPF The Best Way

Investing does not assure you all the time that you'll earn money and lose nothing. It is quite tricky, and you need to be cautious in choosing how, where and when to invest. And while it can be risky, investing can multiply your money provided that you are knowledgeable about investment opportunities. There are various categories in CPF investment which include insurance, unit trusts, fixed deposits and shares, among others. Additionally, you can choose whether to invest your Ordinary Account or Special Account balance.

If you are serious about wealth management Singapore financial advisory firms are what you should seek. Financial advisors can offer sound advice on where to invest and how to reduce the risk of losing all your hard-earned money. With the help of a financial advisor, you can decide what type of investment you must go into. Aside from this, a financial advisor can help you manage other finance-related matters like insurance. So if you need guidance in insurance planning Singapore financial advisors can be of great help.

How To Find A Good Financial Advisor?

If you're a risk-taker, you probably wouldn't have reservations in terms of investing your CPF savings in another entity rather than your account. However, you should not always be complacent in investing your money, especially without a reliable financial advisor to guide you. A financial advisor can help you decide on CPF investment including its risks and opportunities.

The Internet is an effective tool in looking for different financial advisory firms. Check the reputation, range of services, and success stories of the company before getting their services. Seeking help from a financial advisor is important for you to know how to make your money grow fast, whether through CPF investment or putting up a business.




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